Page 135

APACHE CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued) Capitalized Costs The following table sets forth the capitalized costs and associated accumulated depreciation, depletion, and amortization, including impairments, relating to the Company’s oil and gas production, exploration, and development activities: United States 2015 Proved properties . . . . . . . . . . . $ Unproved properties . . . . . . . . .

Canada

51,693 $ 1,824 53,517 (48,161)

Accumulated DD&A . . . . . . . .

Egypt(1)

14,613 $ 234 14,847 (13,582)

North Australia Sea (In millions)

Other International

11,296 $ 30

- $ -

11,266 471

11,326 (7,779)

-

11,737 (9,129)

$

201 52

Total(1)

$

253 (201)

89,069 2,611 91,680 (78,852)

$

5,356 $

1,265 $

3,547 $

- $

2,608

$

52

$

12,828

2014 Proved properties . . . . . . . . . . . $ Unproved properties . . . . . . . . .

47,001 $ 4,151

14,003 $ 1,090

9,895 $ 529

8,289 $ 549

10,463 672

$

201 23

$

89,852 7,014

51,152 (27,205)

Accumulated DD&A . . . . . . . . $ (1)

23,947 $

15,093 (9,653)

10,424 (6,369)

5,440 $

8,838 (3,198)

4,055 $

5,640 $

11,135 (6,375) 4,760

224 (201) $

23

96,866 (53,001) $

43,865

Includes a noncontrolling interest in Egypt.

Costs Not Being Amortized The following table sets forth a summary of oil and gas property costs not being amortized at December 31, 2015, by the year in which such costs were incurred. There are no individually significant properties or significant development projects included in costs not being amortized. The majority of the evaluation activities are expected to be completed within five to ten years. Total

2015

2014

2012 and Prior

2013

(In millions)

Property acquisition costs . . . . . . . . . . . . . Exploration and development . . . . . . . . . . Capitalized interest . . . . . . . . . . . . . . . . . .

$

1,960 586 65

$

316 569 16

$

1,311 15 13

$

210 1 4

$

123 1 32

Total . . . . . . . . . . . . . . . . . . . . . . . . . . .

$

2,611

$

901

$

1,339

$

215

$

156

Oil and Gas Reserve Information Proved oil and gas reserves are the estimated quantities of natural gas, crude oil, condensate, and natural gas liquids (NGLs) that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing conditions, operating conditions, and government regulations. Estimated proved developed oil and gas reserves can be expected to be recovered through existing wells with existing equipment and operating methods. The Company reports all estimated proved reserves held under production-sharing arrangements utilizing the “economic interest” method, which excludes the host country’s share of reserves.

F-53

Apache 2015 Summary Annual Report  

Adapting to a changing environment

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