Production
Production averaged 561,239 barrels of oil equivalent (boe) per day during 2007, a 12-percent increase and the 28th annual increase in the last 29 years. Fourth-quarter production averaged 574,646 boe per day, up 8 percent from the prior-year period.
Apache's production averaged 501,131 boe per day during 2006, up 10 percent; 2006 was the first year for the company's production to exceed one-half million equivalent barrels per day and the 27th increase in the past 28 years. Apache's liquid hydrocarbon production averaged 236,286 barrels per day and natural gas output averaged 1.59 billion cubic feet per day.
Reserves
Proved reserves at 2007 year-end totaled 2.45 billion boe, up 6 percent from 2006 and the 22nd consecutive annual increase. Apache replaced 167 percent of its 2007 production, including 140 percent from drilling activity.
In 2006 proved reserves climbed to a record 2.3 billion barrels of oil equivalent (boe), up 9 percent for the 21st consecutive annual increase. Cash from operations before changes in operating assets and liabilities totaled a record $5 billion in 2006, up from $4.7 billion in 2005.
