Apache Corporation
Encyclopedia
Apache Corporation is an American independent oil and gas corporation. It is headquartered in 1 Post Oak Central in the Uptown
district of Houston
, Texas
.
Apache has become a large multinational company, with regional offices and operations in the United States
, Argentina
, Australia
, Canada
, Egypt
and UK
North Sea
.
In 2010, Apache's market capitalization is approximately $30 billion. The company's proved reserves at year-end 2009 totaled 2.37 billion barrels of oil equivalent, roughly half oil and half natural gas.
district of Houston
, Texas
. In 2010 the President of Apache, Roger Plank, said that because the company has its headquarters in Houston, it wants to "support organizations that make Houston a better place to live."
Uptown Houston
The Uptown District of Houston is located 6.2 miles west of downtown and is centered along Post Oak Boulevard, Westheimer Road , and the Galleria...
district of Houston
Houston, Texas
Houston is the fourth-largest city in the United States, and the largest city in the state of Texas. According to the 2010 U.S. Census, the city had a population of 2.1 million people within an area of . Houston is the seat of Harris County and the economic center of , which is the ...
, Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
.
Apache has become a large multinational company, with regional offices and operations in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, Argentina
Argentina
Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
, Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
, Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
, Egypt
Egypt
Egypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
and UK
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
North Sea
North Sea
In the southwest, beyond the Straits of Dover, the North Sea becomes the English Channel connecting to the Atlantic Ocean. In the east, it connects to the Baltic Sea via the Skagerrak and Kattegat, narrow straits that separate Denmark from Norway and Sweden respectively...
.
In 2010, Apache's market capitalization is approximately $30 billion. The company's proved reserves at year-end 2009 totaled 2.37 billion barrels of oil equivalent, roughly half oil and half natural gas.
History
- 1954 Apache Oil Corporation is founded in Minneapolis, MinnesotaMinneapolis, MinnesotaMinneapolis , nicknamed "City of Lakes" and the "Mill City," is the county seat of Hennepin County, the largest city in the U.S. state of Minnesota, and the 48th largest in the United States...
, by Truman Anderson, Raymond Plank and Charles Arnao. - 1955 The first wells were drilled in the Cushing field, between Tulsa and Oklahoma CityOklahoma cityOklahoma City is the capital and largest city of the U.S. state of Oklahoma.Oklahoma City may also refer to:*Oklahoma City metropolitan area*Downtown Oklahoma City*Uptown Oklahoma City*Oklahoma City bombing*Oklahoma City National Memorial...
. - 1960 Apache acquired interests in the Foshay TowerFoshay TowerThe Foshay Tower, now the W Minneapolis – The Foshay hotel, is a skyscraper in Minneapolis, Minnesota. Modeled after the Washington Monument, the building was completed in 1929, months before the stock market crash in October of that year. It has 32 floors and stands high, plus an antenna mast...
(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 ExchangeNew York Stock ExchangeThe New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
. - 1970 Apache expanded in agricultureAgricultureAgriculture is the cultivation of animals, plants, fungi and other life forms for food, fiber, and other products used to sustain life. Agriculture was the key implement in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that nurtured the...
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 GHKs drilling program in the Anadarko basin.
- 1980 Apache acquired non-operating interest (through participation in the Shell Joint Venture) in the Gulf Of MexicoGulf of MexicoThe Gulf of Mexico is a partially landlocked ocean basin largely surrounded by the North American continent and the island of Cuba. It is bounded on the northeast, north and northwest by the Gulf Coast of the United States, on the southwest and south by Mexico, and on the southeast by Cuba. In...
, opening the door to production on the Outer Continental Shelf. - 1981 Apache created Apache Petroleum Company (APC), US's first master limited partnership (MLP).
- 1986 Apache acquired oil and gas assets from Occidental Petroleum (Oxy), marking Apache’s entry to the Gulf of MexicoGulf of MexicoThe Gulf of Mexico is a partially landlocked ocean basin largely surrounded by the North American continent and the island of Cuba. It is bounded on the northeast, north and northwest by the Gulf Coast of the United States, on the southwest and south by Mexico, and on the southeast by Cuba. In...
as an operator. - 1987 Apache moved its headquarters from Minneapolis to Denver.
- 1991 Apache acquired the MW Petroleum assets from AmocoAmocoAmoco Corporation, originally Standard Oil Company , was a global chemical and oil company, founded in 1889 around a refinery located in Whiting, Indiana, United States....
, buying Apache a position in the Permian Basin of West Texas. - 1992 Headquarters moved to Houston, TexasHouston, TexasHouston is the fourth-largest city in the United States, and the largest city in the state of Texas. According to the 2010 U.S. Census, the city had a population of 2.1 million people within an area of . Houston is the seat of Harris County and the economic center of , which is the ...
- 1993 Apache acquires Hadson Energy Resources, expanding Apache's assests to offshore Western Australia.
- 1994 Apache entered EgyptEgyptEgypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
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 CanadaCanadaCanada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
; Apache acquired 315 oil and gas fields in the Permian Basin, the Texas-Louisiana Gulf Coast, western Oklahoma, East Texas, the Rocky MountainsRocky MountainsThe Rocky Mountains are a major mountain range in western North America. The Rocky Mountains stretch more than from the northernmost part of British Columbia, in western Canada, to New Mexico, in the southwestern United States...
and the Gulf of Mexico from TexacoTexacoTexaco is the name of an American oil retail brand. Its flagship product is its fuel "Texaco with Techron". It also owns the Havoline motor oil brand....
. - 1996 Apache merged with Phoenix Resources and took over operations of the Qarun Concession in Egypt.
- 1999 Acquisition of ShellRoyal Dutch ShellRoyal Dutch Shell plc , commonly known as Shell, is a global oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the fifth-largest company in the world according to a composite measure by Forbes magazine and one of the six...
assets in the Gulf of Mexico. - 2001 Acquisition of $410 million worth of RepsolRepsol YPFRepsol YPF, S.A. is an integrated Spanish oil and gas company with operations in 29 countries...
assets expanded Apache's oil and gas operations 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 FieldForties oilfieldThe Forties Oil Field is the largest oil field in the North Sea, 110 miles east of Aberdeen. It was discovered in 1970 and first produced oil in 1975 under ownership of BP.-History:...
, the largest field ever discovered in the United KingdomUnited KingdomThe United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
North SeaNorth SeaIn the southwest, beyond the Straits of Dover, the North Sea becomes the English Channel connecting to the Atlantic Ocean. In the east, it connects to the Baltic Sea via the Skagerrak and Kattegat, narrow straits that separate Denmark from Norway and Sweden respectively...
from BPBPBP p.l.c. is a global oil and gas company headquartered in London, United Kingdom. It is the third-largest energy company and fourth-largest company in the world measured by revenues and one of the six oil and gas "supermajors"...
. - 2005 Apache and ExxonMobilExxonMobilExxon Mobil Corporation or ExxonMobil, is an American multinational oil and gas corporation. It is a direct descendant of John D. Rockefeller's Standard Oil company, and was formed on November 30, 1999, by the merger of Exxon and Mobil. Its headquarters are in Irving, Texas...
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 ChinaChinaChinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
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 AustraliaWestern AustraliaWestern Australia is a state of Australia, occupying the entire western third of the Australian continent. It is bounded by the Indian Ocean to the north and west, the Great Australian Bight and Indian Ocean to the south, the Northern Territory to the north-east and South Australia to the south-east...
, produced 9,694 barrels per day. - 2007 Apache CEO G. Steven Farris writes to the U.S. Securities and Exchange Commission in favor of limits on nonbinding shareholder proposals at public company annual meetings.
- 2008 Natural gas pipeline explosion at Apache's Varanus Island processing hub on 3 June 2008 curtailed supplies to industrial customers in Western Australia. Apache restored 60 percent of Varanus Island gas deliveries on Aug. 8, 2008. Various litigation has been instigated as a result of the Varanus Island gas pipeline explosion, including a claim lodged in Texas by Pankaj OswalPankaj OswalPankaj Oswal is an Indian Australian businessman. He was the Chairman and Managing Director of Burrup Holdings Limited. BOY is a Perth based company and one of the world's largest liquid ammonia production companies. Oswal has a fortune of over A$2 billion making him one of Australia's richest...
of Burrup Holdings. This case is ongoing. - 2010 Apache commenced production from Van Gogh development offshore Western Australia.
- 2010 Federal judge upholds Apache's decision to exclude from its annual meeting ballot a corporate governance proposal from a person who had not proven on a timely basis that he actually was one of the company's shareholders.
- 2010 Apache announces planned merger with Mariner Energy for $2.7 billion.
- 2010 Apache announces that it was purchasing major assets from BPBPBP p.l.c. is a global oil and gas company headquartered in London, United Kingdom. It is the third-largest energy company and fourth-largest company in the world measured by revenues and one of the six oil and gas "supermajors"...
in Texas, southeast New Mexico, western Canada, and Egypt for a total sum of $7 billion, to pay for BP's response to the Deepwater Horizon Oil SpillDeepwater Horizon oil spillThe Deepwater Horizon oil spill is an oil spill in the Gulf of Mexico which flowed unabated for three months in 2010, and continues to leak fresh oil. It is the largest accidental marine oil spill in the history of the petroleum industry...
. - 2011 Apache announces the discovery of eight new oil wells in EgyptEgyptEgypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
's Faghur Basin.
Corporate headquarters
Apache is headquartered in Suite 100 at 1 Post Oak Central in the UptownUptown Houston
The Uptown District of Houston is located 6.2 miles west of downtown and is centered along Post Oak Boulevard, Westheimer Road , and the Galleria...
district of Houston
Houston, Texas
Houston is the fourth-largest city in the United States, and the largest city in the state of Texas. According to the 2010 U.S. Census, the city had a population of 2.1 million people within an area of . Houston is the seat of Harris County and the economic center of , which is the ...
, Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
. In 2010 the President of Apache, Roger Plank, said that because the company has its headquarters in Houston, it wants to "support organizations that make Houston a better place to live."