Summary
GlobalData's "Apache Corporation Valuation Report, July 2010-Strategic and Operational Analysis" report provides detailed financial information for Apache Corporation, an independent company, engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids. The company owns a diverse and balanced oil and gas portfolio globally. Apache has E&P operations in seven regions spanning across five continents, including on the US Gulf Coast, US Central, Egypt, Australia, the North Sea, Canada and Argentina. The North America region (the US Gulf Coast, Central and Canada) contributed around 48% of the total production whereas the International region (Egypt, Australia, the North Sea and Argentina) contributed around 52% in 2009. The company has achieved economies of scale in all its operating regions, which enables it to reduce its per unit costs of production and operational risks. No single region contributed more than 27% of production in 2009, indicating that the company has a well-diversified asset portfolio.

Table of Contents
1 Table of contents 3
1.1 List of Tables 6
1.2 List of Figures 7
2 Apache Corporation, Company Overview 10
3 Apache Corporation, Watchlist for 2010 14
4 Apache Corporation, Investment Summary 15
4.1 Apache Exploring Significant Potential in Australia to Drive its Development Activities 15
4.2 Apache Utilizing Creative Technologies on Mature Assets to Enhance Its Production and Efficiency 17
4.3 Apache Strengthening Its Geographical Footprint in the International Market to Exploit Upcoming Opportunities; Most Diverse Asset Portfolio amongst Its Peer Group 17
4.4 Strategically Fit Upcoming Assets Assure Long Term Production; Securing Shareholders Value 19
4.5 Strong Liquidity Position through Optimized Capital Structure 21
4.6 Apache Recent Acquisition in Kitimat LNG Terminal Will Help the Company to Exploit Natural Gas Export Market Efficiently 22
5 Apache Corporation, SWOT Analysis 24
5.1 Strengths 24
5.1.1 Strong Geographical Revenue Base 24
5.1.2 Advanced Technology Capabilities 24
5.2 Weakness 24
5.2.1 Declining R/P Ratio in North Sea Region 24
5.3 Opportunities 24
5.3.1 Exploration Interest in Chile 24
5.3.2 New Upcoming Projects 24
5.3.3 Interest in Throughput Capacity of Kitimat LNG Terminal 25
5.4 Threats 25
5.4.1 Loosing Market Share to its Peers 25
6 Apache Corporation, Goals and Strategies 26
6.1 Expanding E&P Operations through Drill Bit While Also Exploring Acquisitions Opportunities 26
6.2 Extending Presence in GOM Deep Water Projects; Leveraging its Experience of North Sea and Australia 26
6.3 Diversifying Its Portfolio Globally; Still Competing In Its Core Regions 27
7 Apache Corporation, Production Overview 29
7.1 Production Profile 29
7.2 The US 29
7.3 Canada 30
7.4 Egypt  31
7.5 Australia 31
7.6 North Sea 32
7.7 Argentina 32
7.8 Key Upstream Projects Update 33
8 Apache Corporation, Development Overview 34
8.1 Development Profile 34
8.2 The US 34
8.3 Canada 35
8.4 Egypt  36
8.5 Australia 36
8.6 North Sea 36
8.7 Argentina 36
9 Apache Corporation, Exploration and M&A Highlights 37
9.1 Merger of Mariner Energy 39
9.1.1 Deal Synopsis 39
9.1.2 Apache's Acquisition of Mariner Energy will further consolidate its Gulf Shelf Position 40
9.1.3 Apache's Acquisition of Mariner and its Subsidiaries (Edge Petroleum) Will Strengthen the Company's GoM Operations 43
9.1.4 Mariner Energy's Assets Overview 43
9.1.5 New Onshore Plays 43
9.1.6 Apache Acquired Mariner Energy at Premium 43
10 Apache Corporation, Outlook 45
11 Apache Corporation, Forecast Production and Financial Statements 46
11.1 Income Statement (2007-2014E) 48
11.2 Balance Sheet (2007-2014E) 49
11.3 Cash Flow Statement (2007-2014E) 50
11.4 Financial Ratios 50
12 Apache Corporation, Valuation 53
12.1 Net Asset Value 53
13 Apache Corporation, Peer Comparision 57
13.1 Share Price Performance 57
13.2 Operational and Financial Performance 57
13.3 Key Financial and Operational Ratio 60
14 Apache Corporation, Key Risks 63
14.1 Political Instability 63
14.2 Fluctuating Crude oil and natural gas prices 63
14.3 Reserves and Drilling operations 63
14.4 Competition 63
14.5 Significant Exposure Across trading, treasury and foreign exchange Risk 63
15 Apache Corporation, Detailed Financial and Operational Metrics 64
15.1 Apache Corporation, Results of Oil & Gas Operations Per BOE Produced, Q4 2008-Q4 2009 64
15.1.1 Results of Oil & Gas Operations Per BOE Growth Rates, Q4 2008-Q4 2009 64
15.2 Apache Corporation, Quarterly E&P Costs Trends 65
15.2.1 Upstream Capital Expenditure, Q4 2008-Q4 2009 65
15.3 Apache Corporation, Total Oil and Gas Production 66
15.3.1 Total Crude Oil and Natural Gas Production Trend, Q4 2008-Q4 2009 66
15.3.2 Total Crude Oil & Natural Gas Production, By Country/Region, Q4 2008-Q4 2009 67
15.3.3 Total Crude Oil and Natural Gas Production Per Share, Q4 2008-Q4 2009 68
15.4 Apache Corporation, Crude Oil Production 69
15.4.1 Total Crude Oil Production Trend, Q4 2008-Q4 2009 69
15.4.2 Crude Oil Production, By Country/Region, Q4 2008-Q4 2009 70
15.5 Apache Corporation, Natural Gas Production 71
15.5.1 Total Natural Gas Production Trend, Q4 2008-Q4 2009 71
15.5.2 Natural Gas Production, By Country/Region, Q4 2008-Q4 2009 72
15.6 Apache Corporation, Total Oil and Gas, Reserves and Production 73
15.6.1 Total Crude Oil and Natural Gas Production and Reserves Trend, 2004-2009 73
15.6.2 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2004-2009 74
15.6.3 Total Crude Oil and Natural Gas Reserve Changes, 2004-2009 76
15.7 Apache Corporation, Crude Oil/Liquids Production and Reserve 77
15.7.1 Crude Oil/Liquids Production and Reserve Trend, 2004-2009 77
15.7.2 Crude Oil Production and Reserves By Country/Region, 2004-2009 78
15.7.3 Crude Oil/Liquids Reserve Changes, 2004-2009 80
15.8 Apache Corporation, Natural Gas Production and Reserve 81
15.8.1 Natural Gas Production and Reserve Trend, 2004-2009 81
15.8.2 Natural Gas Production and Reserves, By Country/Region, 2004-2009 82
15.8.3 Natural Gas Reserve Changes, 2004-2009 84
15.9 Apache Corporation, Total Crude Oil and Natural Gas Reserves Life Index 85
15.9.1 Total Crude Oil and Natural Gas Reserves Life Index, 2004-2009 85
15.9.2 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region,  2004-2009 86
15.10 Apache Corporation, Allocation of the Upstream Capital Expenditure 88
15.10.1 Upstream Capital Expenditure, 2004-2009 88
15.10.2 Acquisition Costs by Country/Region, 2004-2009 89
15.10.3 Exploration and Development Costs, By Country/Region, 2004-2009 91
15.11 Apache Corporation, Oil and Gas Cost Per boe, $/boe 93
15.11.1 Oil and Gas Cost Per boe, $/boe, 2004-2009 93
15.11.2 Oil and Gas Cost Per boe, $/boe, By Country/Region, 2004-2009 94
15.12 Apache Corporation, Oil and Gas Production Replacement Ratio 97
15.12.1 Oil and Gas Production Replacement Ratio, 2004-2009 97
15.12.2 Oil and Gas Production Replacement Ratio, By Country/Region, 2004-2009 98
15.13 Apache Corporation, Oil and Gas Revenue and Expenses 103
15.13.1 Oil and Gas Revenue and Expenses, 2004-2009 103
15.13.2 Oil and Gas Revenue and Expenses, By Country/Region, 2004-2009 104
15.14 Apache Corporation, Oil and Gas Revenue and Expenses, Per boe 109
15.14.1 Oil and Gas Revenue and Expenses, By boe, 2004-2009 109
15.14.2 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2004-2009 110
15.15 Apache Corporation, Oil and Gas Performance Metrics 115
15.16 Apache Corporation, Developed and Undeveloped Acreage 116
15.16.1 Gross and Net Developed and Undeveloped Acreage, 2004-2009 116
15.16.2 Gross and Net Developed and Undeveloped Acreage, By Country/Region,  2004-2009 117
15.17 Apache Corporation, Well Statistics 120
15.17.1 Producible Oil and Gas Well, 2004-2009 120
15.17.2 Producible Oil and Gas Well, By Country/Region, 2004-2009 121
15.17.3 Exploration and Development Wells Drilled, 2004-2009 126
15.17.4 Exploration and Development Wells Drilled, By Country/Region, 2004-2009 127
15.17.5 Developed Reserves per Well, Oil (Mbbl per Well), Gas (MMcf per Well), Oil & Gas (Mboe per Well), 2004-2009 130
15.17.6 Developed Reserves per Well, By Country/Region, 2004-2009 130
16 Appendix 133
16.1 Methodology 133
16.1.1 Coverage 133
16.1.2 Secondary Research 134
16.1.3 Primary Research 134
16.2 Data Sources 134
16.2.1 Company Source 134
16.2.2 SEC/Other Regulatory Filings 134
16.2.3 Agency Reports 134
16.2.4 Other Sources 134
16.3 Expert Panel Validation 134
16.4 Definitions 135
16.5 Unit of Measure 135
16.6 About GlobalData 136
16.7 Disclosure 136
16.8 Disclaimer 136

List of Tables
1.1 List of Tables
Table 1: Apache Corporation, Key Events, January 2009-April 2010 13
Table 2: Apache Corporation, Upcoming Assets in the Short Term, 2010 20
Table 3: Apache Corporation, Other Upcoming Assets, 2010 20
Table 4: Apache Corporation, Upstream Growth Profile, MMboe, 2010-2014 33
Table 5: Apache Corporation, Recent Transactions as a Buyer, 2009-2010 39
Table 6: Apache Corporation, Recent Transactions as a Seller, 2008-2010 39
Table 7: GlobalData, Net Asset Valuation on Mariner Energy, 2010 44
Table 8: Apache Corporation, Forecast Production ($m), 2007-2014E 46
Table 9: GlobalData, Price Forecast, 2010E-2014E 47
Table 10: Apache Corporation, Income Statement ($m), 2007-2014E 48
Table 11: Apache Corporation, Balance Sheet ($m), 2007-2014E 49
Table 12: Apache Corporation, Cash Flow Statement ($m), 2007-2014E 50
Table 13: Apache Corporation, Profitability Ratios, 2007-2014E 51
Table 14: Apache Corporation, Other Financial Ratios, 2007-2014E 52
Table 15: GlobalData, Price Forecast, 2010E-2014E 53
Table 16: Apache Corporation, Net Asset Value ($m and $/share), 2010 54
Table 17: Apache Corporation, Prospective Acreage & Non Proven Reserves, 2010 54
Table 18: Apache Corporation, NPV Per Unit Crude Oil & NGL, 2010 54
Table 19: Apache Corporation, NPV Per Unit Natural Gas, 2010 55
Table 20: Apache Corporation, NPV Per Unit Total Crude Oil and Natural Gas Production, 2010 55
Table 21: Apache Corporation, Sensitivity Analysis on Fair Value ($/share), 2010 56
Table 22: Apache Corporation Vs. Peer Group, Operational and Financial Performance, 2009 58
Table 23: Apache Corporation and its Peer Group Comparison, Financial Ratios, 2009 61
Table 24:  Apache Corporation, Results of Oil & Gas Operations Per BOE Produced, $/boe,  Q4 2008-Q4 2009 64
Table 25:  Apache Corporation, Results of Oil & Gas Operations Per BOE Growth Rates, %,  Q4 2008-Q4 2009 64
Table 26: Apache Corporation, Upstream Capital Expenditure, Q4 2008-Q4 2009 65
Table 27: Apache Corporation, Total Crude Oil and Natural Gas, Production, Q4 2008-Q4 2009 66
Table 28:  Apache Corporation, Total Oil & Gas Production, By Country/Region, MMboe,  Q4 2008-Q4 2009 67
Table 29:  Apache Corporation, Total Crude Oil and Natural Gas Production Per Share,  Q4 2008-Q4 2009 68
Table 30: Apache Corporation, Total Crude Oil Production, MMbbl, Q4 2008-Q4 2009 69
Table 31:  Apache Corporation, Crude Oil Production, By Country/Region, MMbbl,  Q4 2008-Q4 2009 70
Table 32: Apache Corporation, Total Natural Gas  Production, Bcf, Q4 2008-Q4 2009 71
Table 33:  Apache Corporation, Natural Gas Production, By Country/Region, Bcf,  Q4 2008-Q4 2009 72
Table 34: Apache Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2004-2009 73
Table 35: Apache Corporation, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, MMboe, 2004-2009 75
Table 36: Apache Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2004-2009 76
Table 37: Apache Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 2004-2009 77
Table 38:  Apache Corporation, Crude Oil Production and Reserves, By Country/Region, MMbbl, 2004-2009 79
Table 39: Apache Corporation, Crude Oil Reserve Changes,  MMbbl, 2004-2009 80
Table 40: Apache Corporation, Natural Gas Production and Reserves Metrics, Bcf, 2004-2009 81
Table 41: Apache Corporation, Natural Gas Production and Reserves, By Country/Region, Bcf, 2004-2009 83
Table 42: Apache Corporation, Natural Gas Reserve Changes, Bcf, 2004-2009 84
Table 43: Apache Corporation, Oil and Gas Reserves Life Index, Years, 2004-2009 85
Table 44: Apache Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 2004-2009 87
Table 45: Apache Corporation, Upstream Capital Expenditure, $m, 2004-2009 88
Table 46: Apache Corporation, Proved and Unproved Acquisition Costs, By Country/Region, $m, 2004-2009 90
Table 47:  Apache Corporation, Exploration and Development Costs, By Country/Region, $m, 2004-2009 92
Table 48: Apache Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2004-2009 93
Table 49:  Apache Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs  Per boe, $/boe, By Country/Region, 2004-2009 96
Table 50: Apache Corporation, Oil and Gas Production Replacement Ratio, %, 2004-2009 97
Table 51: Apache Corporation, 3-Year Wt. Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2004-2009 101
Table 52: Apache Corporation, Revenue and Expenses, $m, 2004-2009 103
Table 53: Apache Corporation, Revenue and Expenses, By Country/Region, $m, 2004-2009 107
Table 54: Apache Corporation, Oil and Gas Revenue and Expenses, $/boe, 2004-2009 109
Table 55: Apache Corporation, Oil and Gas Revenue and Expenses, $/boe, By Country/Region, 2004-2009 113
Table 56: Apache Corporation, Oil and Gas Performance Metrics, %, 2004-2009 115
Table 57: Apache Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2004-2009 116
Table 58:  Apache Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres,  2004-2009 119
Table 59: Apache Corporation, Producible Oil and Gas Wells, 2004-2009 120
Table 60: Apache Corporation, Producible Oil and Gas Wells, By Country/Region, 2004-2009 124
Table 61: Apache Corporation, Exploratory and Developed Wells, 2004-2009 126
Table 62:  Apache Corporation, Exploratory and Developed Wells, By Country/Region,  2004-2009 127
Table 63:  Apache Corporation, Developed Reserves per Well, Oil (Mbbl per Well), Gas  (MMcf per Well), Oil & Gas (Mboe per Well), 2004-2009 130
Table 64:  Apache Corporation, Developed Reserves per Well, By Country/Region, Mboe per Well, 2004-2009 132

List of Figures
1.2 List of Figures
Figure 1: Apache Corporation, Global Operations, 2010 10
Figure 2: Apache Corporation, Financial & Operational Overview, 2006-2009 11
Figure 3: Apache Corporation, Share Performance, April 2009-April 2010 12
Figure 4: Australia, State-Wise Natural Gas Production, 2002-2008 15
Figure 5: Apache Corporation, Upcoming Assets in Australia, 2010 16
Figure 6: Apache Corporation, Australia Forecast Production, 2010E-2015E 16
Figure 7: Apache Corporation, Production Across Diversified Regions, 2009 18
Figure 8:    Apache Corporation, International Production Comparison With Domestic Production, 2005-2009 18
Figure 9: Apache Corporation, International Production Peers Comparison, 2009 19
Figure 10:   Apache Corporation and Peer Group's Debt/Total Capitalization Ratio Comparison, 2007-2009 21
Figure 11: Apache Corporation, Contractual Obligation, 2010 & Beyond 22
Figure 12: Kitimat LNG Terminal Proximity With Asian Market, 2010 23
Figure 13:  Apache Corporation's Acquired GoM Deep Water Assets From Mariner Energy Inc, 2010 27
Figure 14: Apache Corporation, Diversified Asset Portfolio, 2010 28
Figure 15: Apache Corporation, Total Production From Upstream Assets, MMboe, 2006-2014E 29
Figure 16:  Apache Corporation, The US Production From Upstream Assets, MMboe,  2007-2014E 30
Figure 17:   Apache Corporation, Horn River Expected Production in Comparison With Total Canada Production, MMboe, 2010E-2014E 31
Figure 18: Apache Corporation, Total Production By Region, MMboe, 2007-2014E 32
Figure 19: Apache Corporation, Granite Wash-Utilizing Technology to Unlock Potential, 2010 35
Figure 20: Apache Corporation, Horn River Basin-Long Tern Natural Gas Resource, 2010 35
Figure 21:  Apache Corporation,  Comparison of Exploration Cost and Reserve Addition Through Drill bit, 2006-2009 37
Figure 22:   Apache Corporation, Comparison of Acquisition Cost and Reserve Addition Through Acquisition, 2006-2009 38
Figure 23: Apache Corporation, Operations Map, 2010 40
Figure 24: Apache Corporation, GOM Deepwater Portfolio, Post Acquisition, 2010 41
Figure 25: Apache Corporation, Permian Basin Map, Post Acquisition, 2010 41
Figure 26:   Apache Corporation, Growth in Proved Reserves and Comparison with Other Peer Group Companies, 2010 42
Figure 27: Apache Corporation, Growth in Total Production and Comparison with Other Peer Group Companies, 2010 42
Figure 28:  Apache Corporation and Peer Group, Relative Share Price Performance Index, March 2009-March 2010 57
Figure 29: Apache Corporation, F&D costs and Reserve Replacement Ratio, 2009 59
Figure 30: Apache Corporation, Operational and Financial Parameters in $/boe, 2009 59
Figure 31: Apache Corporation, Total Reserves and Production, MMboe, 2009 60
Figure 32: Apache Corporation and Peer Group Comparison, Valuation Ratio, 2009 62
Figure 33:   Apache Corporation, Results of Oil & Gas Operations Per BOE Produced, $/boe,  Q4, 2008-Q4, 2009 64
Figure 34: Apache Corporation, Upstream Capital Expenditure, $m, Q4 2008-Q4 2009 65
Figure 35:   Apache Corporation, Total Crude Oil and Natural Gas, Production, MMboe,  Q4 2008-Q4 2009 66
Figure 36:  Apache Corporation, Total Oil & Gas Production, By Country/Region, MMboe,  Q4 2008-Q4 2009 67
Figure 37:  Apache Corporation, Total Crude Oil and Natural Gas Production Per Share, boe/Share, Q4 2008-Q4 2009 68
Figure 38: Apache Corporation, Total Crude Oil Production, MMbbl, Q4 2008-Q4 2009 69
Figure 39:  Apache Corporation, Crude Oil Production, By Country/Region, MMbbl,  Q4 2008-Q4 2009 70
Figure 40: Apache Corporation, Total Natural Gas  Production, Bcf, Q4 2008-Q4 2009 71
Figure 41:  Apache Corporation, Natural Gas Production, By Country/Region, Bcf,  Q4 2008-Q4 2009 72
Figure 42:   Apache Corporation, Total Crude Oil and Natural Gas, Production and Reserves, MMboe, 2004-2009 73
Figure 43:   Apache Corporation, Total Oil & Gas Production (Reserves Reconciliation), By Country/Region, MMboe, 2004-2009 74
Figure 44:  Apache Corporation, Total Proved Oil & Gas Reserves, By Country/Region, MMboe, 2004-2009 74
Figure 45:  Apache Corporation, Total Crude Oil and Natural Gas Reserve Changes, MMboe, 2009 76
Figure 46: Apache Corporation, Crude Oil Production and Reserves Metrics, MMbbl, 2004-2009 77
Figure 47:  Apache Corporation, Oil Production (Reserves Reconciliation), By Country/Region, MMbbl, 2004-2009 78
Figure 48:  Apache Corporation, Total Proved Oil Reserves, By Country/Region, MMbbl,  2004-2009 78
Figure 49: Apache Corporation, Crude Oil Reserve Changes,  MMbbl, 2009 80
Figure 50: Apache Corporation, Natural Gas Production and Reserves Metrics, Bcf, 2004-2009 81
Figure 51: Apache Corporation, Gas Production (Reserves Reconciliation), By Country/Region, Bcf, 2004-2009 82
Figure 52:  Apache Corporation, Total Proved Gas Reserves, By Country/Region, Bcf,  2004-2009 82
Figure 53: Apache Corporation, Natural Gas Reserve Changes, Bcf, 2009 84
Figure 54: Apache Corporation, Oil and Gas Reserves Life Index, Years, 2004-2009 85
Figure 55: Apache Corporation, Gas Reserve Life Index, By Country/Region, Ratio, 2004-2009 86
Figure 56:  Apache Corporation, Oil & Gas Reserve Life Index, By Country/Region, Ratio, 2004-2009 86
Figure 57: Apache Corporation, Oil Reserve Life Index, By Country/Region, Ratio, 2004-2009 87
Figure 58: Apache Corporation, Upstream Capital Expenditure, $m, 2004-2009 88
Figure 59: Apache Corporation, Proved Acquisition Costs, By Country/Region, $m, 2004-2009 89
Figure 60:   Apache Corporation, Unproved Acquisition Costs, By Country/Region, $m,  2004-2009 89
Figure 61: Apache Corporation, Development Costs, By Country/Region, $m, 2004-2009 91
Figure 62: Apache Corporation, Exploration Costs, By Country/Region, $m, 2004-2009 91
Figure 63:  Apache Corporation, 3-Year Wt. Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs  Per boe, $/boe, 2004-2009 93
Figure 64:  Apache Corporation, 3-Year Wt. Avg. Oil & Gas Finding & Development Cost per boe, By Country/Region, $/boe, 2004-2009 94
Figure 65:   Apache Corporation, 3-Year Wt. Avg. Oil & Gas Finding Cost per boe, By Country/Region, $/boe, 2004-2009 94
Figure 66:   Apache Corporation, 3-Year Wt. Avg. Reserve Replacement Cost per boe, By Country/Region, $/boe, 2004-2009 95
Figure 67:   Apache Corporation, 3-Year Wt. Avg. Proved Acquisition Cost per boe, By Country/Region, $/boe, 2004-2009 95
Figure 68:  Apache Corporation, 3-Year Wt. Avg. Oil and Gas Production Replacement Ratio, %, 2004-2009 97
Figure 69:  Apache Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2004-2009 98
Figure 70:  Apache Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2004-2009 98
Figure 71:   Apache Corporation, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2004-2009 99
Figure 72:  Apache Corporation, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2004-2009 99
Figure 73:   Apache Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2004-2009 100
Figure 74:   Apache Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2004-2009 100
Figure 75: Apache Corporation, Revenue and Expenses, $m, 2004-2009 103
Figure 76:  Apache Corporation, Depreciation, Depletion & Amortization , By Country/Region, $m, 2004-2009 104
Figure 77: Apache Corporation, Income Tax/(Benefit), By Country/Region, $m, 2004-2009 104
Figure 78: Apache Corporation, Net Income/Loss, By Country/Region, $m, 2004-2009 105
Figure 79: Apache Corporation, Oil & Gas Revenue, By Country/Region, $m, 2004-2009 105
Figure 80: Apache Corporation, Pre-tax Profit, By Country/Region, $m, 2004-2009 106
Figure 81: Apache Corporation, Production Expenses, By Country/Region, $m, 2004-2009 106
Figure 82: Apache Corporation, Total Expenses, By Country/Region, $m, 2004-2009 107
Figure 83: Apache Corporation, Oil and Gas Revenue and Expenses, $/boe, 2004-2009 109
Figure 84:  Apache Corporation, Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2004-2009 110
Figure 85: Apache Corporation, Lifting Cost per boe, By Country/Region, $/boe, 2004-2009 110
Figure 86:  Apache Corporation, Annual Net Income per boe, By Country/Region, $/boe,  2004-2009 111
Figure 87:  Apache Corporation, Oil & Gas Revenue per boe, By Country/Region, $/boe,  2004-2009 111
Figure 88: Apache Corporation, Total DD&A per boe, By Country/Region, $/boe, 2004-2009 112
Figure 89: Apache Corporation, Total Revenue per boe, By Country/Region, $/boe, 2004-2009 112
Figure 90: Apache Corporation, Oil and Gas Performance Metrics, 2004-2009 115
Figure 91:  Apache Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2004-2009 116
Figure 92:  Apache Corporation, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2004-2009 117
Figure 93:  Apache Corporation, Total Net Undeveloped Acreage, By Country/Region, Acres, 2004-2009 117
Figure 94:  Apache Corporation, Total Gross Developed Acreage, By Country/Region, Acres, 2004-2009 118
Figure 95:  Apache Corporation, Total Net Developed Acreage, By Country/Region, Acres, 2004-2009 118
Figure 96: Apache Corporation, Producible Oil and Gas Wells, 2004-2009 120
Figure 97:  Apache Corporation, Gross Producible Gas Wells, By Country/Region, Number, 2004-2009 121
Figure 98:  Apache Corporation, Gross Producible Oil & Gas Wells, By Country/Region, Number, 2004-2009 121
Figure 99:  Apache Corporation, Gross Producible Oil Wells, By Country/Region, Number, 2004-2009 122
Figure 100: Apache Corporation, Net Oil & Gas Wells as % of Gross Oil & Gas Wells, By Country/Region, %, 2004-2009 122
Figure 101: Apache Corporation, Net Producible Gas Wells, By Country/Region, Number, 2004-2009 123
Figure 102: Apache Corporation, Net Producible Oil & Gas Wells, By Country/Region, Number, 2004-2009 123
Figure 103: Apache Corporation, Net Producible Oil Wells, By Country/Region, Number,  2004-2009 124
Figure 104: Apache Corporation, Exploratory and Developed Wells, 2004-2009 126
Figure 105: Apache Corporation, Developed Gas Reserves per Well (MMcf per Well), By Country/Region, 2004-2009 130
Figure 106: Apache Corporation, Developed Oil & Gas Reserves per Well (Mboe per Well), By Country/Region, 2004-2009 131
Figure 107: Apache Corporation, Developed Oil Reserves per Well (Mbbl per Well), By Country/Region, 2004-2009 131
Figure 108: GlobalData Methodology 133