Apache Corp.

Infobox_Company
company_name = Apache Corporation
company_
company_type = Public
company_slogan = "Sense of Urgency"
foundation = 1954
location = Houston, Texas
key_people = G. Steven Farris, President & CEO
revenue = profitUS$9.97 billion (2007)
industry = Oil Production
num_employees = 3521 (2007)
products = Petrochemical products
homepage = http://www.apachecorp.com

Apache Corporation nyse|APA is an independent oil and gas corporation based in Houston, Texas.

Apache has become a large multinational company, with regional offices and operations in Argentina, Australia, Canada, Egypt and UK North Sea.

In 2008, Apache's market capitalization is approximately $31 billion. The company reserves are roughly half oil and half natural gas.

History

*1954 Apache Oil Corporation is founded in Minneapolis, Minnesota, by Truman Anderson, Raymond Plank and Charles Arnao.
*1955 The first wells were drilled in the Cushing field, between Tulsa and Oklahoma City.
*1960 Apache acquired interests in the Foshay Tower (a Minneapolis landmark). The 32-story imitation of the Washington Monument, will become Apache’s headquarters location from the early ‘60s until 1984.
*1967 Fagerness #1 oil discovery.
*1969 Apache Corporation shares were listed on the New York Stock Exchange (nyse|APA).
*1970 Apache expanded in agriculture with the acquisition of "Fresno, California’s S&J Ranch".
*1971 Apache Corporation formed Apache Exploration Company (subsequently “Apexco”) as the oil and gas operating child company.
*1977 Following the sale of Apexco, Apache operates "GHK"'s drilling program in the Anadarko basin.
*1980 Apache acquired non-operating interest (through participation in the Shell Joint Venture) in the Gulf Of Mexico, opening the door to production on the Offshore Continental Shelf.
*1981 Apache created Apache Petroleum Company (APC), US's first master limited partnership (MLP).
*1986 Apache acquired "Oxi", marking Apache’s entry to the Gulf of Mexico as an operator.
*1987 Apache moved its headquarters of 33 years from Minneapolis to Denver.
*1991 Apache acquired the "MW Petroleum" assets from Amoco, buying Apache a position in the Permian Basin of West Texas.
*1992 Headquarters moved to Houston, Texas
*1993 Apache acquires "Hadson Energy Resources", expanding Apache's assests to offshore Western Australia.
*1994 Apache entered Egypt by acquiring a 25 percent non-operated interest in the Qarun Concession alongside the "Phoenix Resource Companies".
*1995 Apache acquired "Dekalb Energy Canada Ltd", marking Apache's return to Canada; Apache acquired 315 oil and gas fields in the Permian Basin, the Texas-Louisiana Gulf Coast, western Oklahoma, East Texas, the Rocky Mountains and the Gulf of Mexico from Texaco.
*1999 Acquisition of Shell assets in the Gulf of Mexico.
*2001 $410 million worth of Repsol assets acquisition made Apache the largest producer of liquid hydrocarbons in Egypt’s Western Desert.
*2002 Apache Corporation drilled its first deepwater wells in the West Mediterranean Concession offshore Egypt.
*2003 Apache acquired the Forties Field from BP, the largest field ever discovered in the United Kingdom North Sea.
*2005 Apache and ExxonMobil completed a series of agreements that provided for transfers and joint ventures across a broad range of properties in the Permian Basin of West Texas and New Mexico, Western Canada, onshore Louisiana, and the Gulf of Mexico Shelf.
*2006 Apache completed the sale of its oil production interest in China to Australia-based ROC Oil Company Limited for US$260 million. It also bought a large majority of BP's Gulf of Mexico Shelf properties.
*2007 A test horizontal well at the Van Gogh project, in Exmouth Gulf, Western Australia, produced 9,694 barrels per day.
*2008 fire at Varanus Island facility in Western Australia stops natural gas production and causes an energy crisis.

External links

* [http://www.apachecorp.com Apache Corporation Homepage]