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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 27, 2000
APACHE CORPORATION
(Exact name of registrant as specified in Charter)
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<S> <C> <C>
DELAWARE 1-4300 41-0747868
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification Number)
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2000 POST OAK BOULEVARD
SUITE 100
HOUSTON, TEXAS 77056-4400
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (713) 296-6000
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ITEM 5. OTHER EVENTS
On July 27, 2000, Apache Corporation reported second quarter basic net
income of $1.23 per common share, or $140.4 million, more than four times the 28
cents per common share, or $29.6 million, reported in the prior-year period.
Cash from operations rose to $3.03 per common share, or $346 million,
up from $1.45 per common share, or $153 million, in the year-earlier period.
During the first half of 2000, Apache earned basic net income of $2.21
per common share, up from 26 cents per share in the first half of 1999,
exceeding Apache's record basic net income of $1.73 per common share for all
four quarters of 1999.
The improvement in financial performance during the second quarter of
2000 reflected a 32-percent increase in liquid hydrocarbon production, to
118,629 barrels per day, and a 22-percent increase in natural gas production, to
765 million cubic feet per day, as well as higher oil and gas prices. Apache
realized $25.88 per barrel of oil, up from $16.03 per barrel in the year-earlier
period; $3.07 per thousand cubic feet (Mcf) of gas, up from $2.02 per Mcf; and
$17.62 per barrel of natural gas liquids, up from $8.56 per barrel.
Second quarter revenues were $488.1 million, up from $246.4 million in
the prior-year period. At the end of the quarter, Apache's debt was
approximately 43 percent of total capitalization.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
APACHE CORPORATION
Date: July 27, 2000 /s/ Z. S. Kobiashvili
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Z. S. Kobiashvili
Vice President and General Counsel
