This excerpt taken from the APA 10-K filed Mar 2, 2009.
These excerpts taken from the APA 10-K filed Feb 29, 2008.
This excerpt taken from the APA 10-K filed Mar 1, 2007.
Our revenues are sensitive to changes in prices received for our products. A substantial portion of our production is sold at prevailing market prices which fluctuate in response to many factors that are outside of our control. Given the current tightly balanced supply-demand market, small variations in either supply or demand, or both, can have dramatic effects on prices we receive for our oil and natural gas production. Political instability and availability of alternative fuels could impact worldwide supply, while other economic factors could impact demand.
Oil and Natural Gas Prices
While the market price received for crude oil and natural gas varies among geographic areas, crude oil trades in a worldwide market, whereas natural gas, which has a limited global transportation system, is subject to local supply and demand conditions. Consequently, price movements for all types and grades of crude oil generally move in the same direction, while natural gas price movements generally follow local market conditions.
Apache primarily sells its natural gas into four markets:
For specific marketing arrangements by segment, please refer to Item 1 and 2. Business and Properties of this Form 10-K.