The BusinessWeek 50 Ranking
10
Apache
When Apache got its start in 1954, the thrill of the oil business lay in drilling new exploratory wells. Now oilmen realize it's much safer to "acquire and exploit" existing fields, and few do that better than Houston-based Apache. The company hiked production at the Forties Field in the North Sea by 50% after acquiring it from BP PLC (BP), all the while cutting costs by automating production and switching from diesel generators to natural gas produced on-site. Earnings jumped 52% last year, giving Apache a staggering 31.5% net margin. Expect more canny deals this year.
Company Info
| 2004 Rank | 28 |
| STOCK INFO | APA |
| Market Value | $20.5 BILLION |
| Total Return | (1-yr.) 53.6%
(3-yr.) 155.3% |
| 2004 sales | $5.3 BILLION |
| Sales Growth | (1-yr.) 26%
(3-yr.) 27.0% |
| Net income | $1.7 BILLION |
| Net Income Growth | (1-yr.) 52%
(3-yr.) 37.6% |
| Net Margin* | 31.5% |
| Return on Equity* | 20.3% |
| Industry | ENERGY |
| CORPORATE WEB SITE | |
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*Trailing 12 months
Company data as of 2/28/05 provided by Standard & Poor's Compustat
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Company Snapshot
Apache Corporation operates as an energy company worldwide. The company’s principal activities include the exploration, development, and production of natural gas, crude oil, and natural gas liquids. In North America, its exploration and production interests are focused in the Gulf of Mexico, the Gulf Coast, the Permian Basin, the Anadarko Basin, and the Western Sedimentary Basin of Canada. Outside of North America, the company has exploration and production interests offshore Western Australia, offshore and onshore Egypt, offshore the People's Republic of China, offshore the United Kingdom in the North Sea, and onshore Argentina. As of December 31, 2003, Apache had total estimated proved reserves of 843.9 million barrels of crude oil, condensate, and natural gas liquids and 4.9 Tcf of natural gas. The company holds its interests in many of its United States, Canadian, and international properties through operating subsidiaries. The company was formed as a Delaware corporation in 1954 by Truman Anderson, Raymond Plank, and Charles Arnao under the name Apache Oil Corporation. The company’s principal executive offices are located in Houston, Texas.
No. of Employees
NA
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