Financial Highlights

Apache's strategy is built on a diversified portfolio that is balanced geographically, geologically and by product mix (oil vs. gas).

With 42 million acres, Apache has an asset base with opportunities that span the globe.

Operations are established in areas with growing economies and generally positive business and legal environments. Our goal is to build core areas that will support a sustainable program of lower-risk, repeatable drilling opportunities, balanced by higher-risk, higher-reward exploration in core growth areas such as Australia, Canada and Egypt.

Performance Highlights

(A) NON-GAAP FINANCIAL MEASURE: The annual report discusses Apache's cash from operations before changes in operating assets and liabilities. Management believes the information is useful for investors because it is used internally and widely accepted by those following the oil and gas industry as a financial indicator of a company's ability to generate cash to internally fund exploration and development activities, fund dividend programs, and service debt. It is also used by research analysts to value and compare oil and gas exploration and production companies, and is frequently included in published research when providing investment recommendations. Cash from operations before changes in operating assets and liabilities, therefore, is an additional measure of liquidity, but is not a measure of financial performance under GAAP and should not be considered as an alternative to cash flows from operating, investing, or financing activities.

Year-End Share Price

Investors benefited from Apache's record performance as Wall Street took notice of Apache's visible catalysts for continued growth into the next decade.

Production and Reserves

Apache's seven core areas include five outside the United States that represent 60 percent of production and reserves. No single basin contributes more than 25 percent of production. Virtually all core areas have large undeveloped acreage with opportunities for future growth.

Exploration and Development Capital

Drilling opportunities from Apache's operating regions are judged on rate of return using conservative price assumptions. Cash flow from the U.S. regions funds the company's international expansion.

Annual Production and Proved Reserves

Liquid hydrocarbons represent about half of Apache's 2007 production but two-thirds of revenues. Apache replaced 167 percent of its 2007 production, including 140 percent from drilling activity.

Revenues and Net Cash

Strong commodity prices and record production fueled revenue growth. Record cash from operations provided funds for the company's drilling program.

ROACE and Capitalization

Apache's strong balance sheet, with debt at 22 percent of capitalization, provides financial flexibility to pursue its growth strategy in a time of economic uncertainty.

Earnings per Diluted Common Share and Return on Equity

Apache's balanced product mix and growing production profile in a rising commodity price environment fueled record earnings and strong returns.

"Finding a way”

“Finding a way” embodies Apache Corporation's 53-year quest to build a significant and profitable oil and gas company, providing energy to meet constantly increasing global demand for the long-term benefit of our shareholders.

From scraping together $250,000 to launch the company in 1954, to acquiring 1,050 square miles of three-dimensional seismic data at the environmentally sensitive tip of South America during 2007, Apache's work ethic and its values have been the guiding principles behind "finding a way."

In 2007, your company:

• Increased production 12 percent to 561,000 barrels of oil equivalent (boe) per day, the 28th annual increase in the last 29 years;
• Grew proved reserves by 6 percent to 2.4 billion boe, the 22nd consecutive year of reserve growth;
• Earned a record $2.8 billion, or $8.39 per diluted common share. Excluding the non-cash impact of foreign currency fluctuations and tax rate changes on deferred tax balances, Apache's 2007 adjusted earnings* were $8.65 per share, or 25 percent above 2006 adjusted earnings; and
• Generated a record $6.2 billion of cash from operations before changes in operating assets and liabilities.*, *Non-GAAP

These are the year's key statistics. The rest of the story lies in the underlying asset value and future resource potential that the company has built. With 42 million gross acres in seven core operating regions, Apache has a deep inventory of opportunities across our portfolio that will enable the company to continue to grow profitably into the next decade.

Over the course of a half century, a company is confronted with countless challenges and constant change. Most of all, "finding a way" means not giving in to conventional thinking while having the determination to overcome any challenge to continue our record of profitable growth. The difference between success and failure is measured in inches, not miles, and to continue on our path of progress, we must constantly find new opportunities to fuel our growth-most recently, through exploration.

In 2007, our exploration and development program provided significant momentum for future growth. Apache's "ACE" core growth areas of Australia, Canada and Egypt will further that momentum.

In Australia, we discovered natural gas with the Julimar-1 well on the WA-356-P block in the Carnarvon Basin. With two additional discoveries, Apache booked our share of 650 billion cubic feet (Bcf) of estimated proved reserves. Five additional appraisal wells are planned for 2008, and we believe the ultimate size of this gas accumulation could be in the range of 2 to 4 trillion cubic feet (Tcf). Apache is developing our Reindeer discovery at a time of strong demand for Carnarvon Basin natural gas; industry prices recently have risen to a multiple of the company's average price of $1.89 per thousand cubic feet (Mcf) in 2007. We hope to sanction the Julimar gas development in late 2008.

In Canada, Apache had encouraging results in the Ootla area of British Columbia, where we are continuing to test the commercial and geological potential of the Muskwa Shale. With our partner, EnCana, we have amassed 417,000 gross acres-the largest single acreage position in this sizable emerging play.

In Egypt, we made several deep Jurassic oil and gas discoveries, including the Jade, Alexandrite and Imhotep discoveries in the Matruh Concession on the northern side of the Khalda area.

Behind each of these discoveries are teams of experienced, creative geologists, geophysicists and engineers equipped with Apache's sense of urgency, the best technological tools, and a determination to find a way to overcome obstacles.

For example, when the wheels of 3-D seismic survey equipment became bogged down in the muddy terrain of Argentina's Tierra del Fuego, Apache's exploration group brought in tracked vehicles used in the Canadian Arctic Region to accelerate the completion of the seismic survey in this environmentally sensitive area. This survey already is yielding results in added production.

Apache also tested a new method of acquiring 3-D seismic information that speeds the job while increasing the quality of the data. Using 12 large, independently controlled Vibroseis seismic source trucks in Egypt's Western Desert, we set a new record for acquiring data with more than 6,000 shots in just over eight hours.

One essential element of Apache's progress over the last 53 years is our commitment to long-term growth over short-term gratification. It seems that every week, another large institution is crippled by the impact of short-term thinking that disregards long-term consequences. The sub-prime credit debacle that has dragged the U.S. economy into recession is one such example. Essentially, mortgage brokers and bankers were rewarded for taking excessive risks by originating loans with little regard for the borrowers' ability to repay.

Apache employees thrive in a culture that values and rewards them for growth that is both profitable and sustainable.

As this report was being prepared, our employees achieved a goal that, when established in 2005, appeared to be an impossible dream: doubling the company's share price by the end of 2008.

Since kicking off the 2005 Share Appreciation Plan, our long-term shareholders have seen the value of the company more than double, increasing market capitalization by more than $19 billion. For this achievement, 2,800 Apache employees will receive approximately 2 million shares with total value equal to about 1 percent of the market value growth. More than 90 percent of the incentives will be paid to non-executives, with employees receiving shares equivalent to at least half of their annual salaries. The shares will be paid in four annual installments, providing a strong retention incentive at a time when the competition for good people is considerable.

A New Era For Energy

While Apache focuses on its long-term goals, we are faced with unprecedented short-term volatility in global crude oil markets. The phenomenal rise of crude oil prices-from $61 per barrel in January 2007 to $110 per barrel in March 2008-is the product of many complex factors and signals the emergence of a new competitive era for energy across the globe.

Population growth and emerging economies such as China and India have pushed oil demand from 65 million barrels per day to 85 million barrels per day in 20 years. At current prices, the nations of the world are spending more than $3 trillion annually to secure crude oil. The fastest-growing demand is from less-developed countries to fuel progress and advance their standards of living.

For U.S. consumers, the recent rise in energy prices has been startling, because the nation had become accustomed to inexpensive energy after the price spikes in the 1970s and 1980s. At the end of the 1990s, energy took a smaller bite out of disposable income than it did at the end of World War II.

While increased demand, turmoil in the oil-rich Middle East and the weak U.S. dollar play large roles in rising oil prices, many analysts have concluded that the tremendous increase in speculation in oil futures markets by hedge funds, pension funds and other investors has become one of the significant factors in setting oil prices.

Speculative trading brings liquidity to commodity markets, allowing companies to hedge their exposure to commodity prices. Apache has used this strategy to lock in the economic returns of acquisitions and development projects.

But large-scale speculation can hurt the economy by distorting market signals regarding supply and demand in the physical market and lead to excessive price volatility. We believe today's trading volume of oil futures contracts-15 times that of physical demand-is excessive and has had an undue influence on today's lofty prices.

Our Role in the New Era

Apache's primary responsibility is to find and develop oil and natural gas that will provide a competitive return for our shareholders, fuel economic growth, and help raise living standards. We applaud the recent trends toward conservation and development of viable alternatives to fossil fuels. However, these alternatives will not ebb the world's demand for fossil fuels for many years.

In 2007, in addition to our effective exploration program, we pushed ahead on six large development projects that are expected to add over 100,000 barrels of oil equivalent per day of new production in 2009, 2010 and 2011. These projects include the Van Gogh and Pyrenees oil developments and Reindeer and Julimar gas projects offshore Western Australia, as well as expansion of the Salam gas plant and secondary oil recovery projects in Egypt.

Apache has traversed enough price cycles over our 53 years to recognize that it would be imprudent to base our investment decisions on $100 per barrel oil. We use conservative price forecasts, and, when appropriate, have employed hedges to protect the economic viability of acquisitions and development projects with long lead times.

In addition to building a profitable corporation that provides essential energy supplies, we have a responsibility to be stewards of the environment in which we operate and to do our part to improve living standards. Our operations in Egypt-where we are the third-largest producer and an important source of foreign investment-illustrate the many ways we try to meet our responsibilities.

We provide direct employment for 2,000 Egyptians, $9 million in revenue for the government each day, and energy supplies for the growing economy. In the Western Desert, we are converting diesel generators to cleaner-burning, less-expensive natural gas. We also tapped the spirit of our workforce, along with the generosity of our officers, employees, directors, industry colleagues and friends, to build 200 one-room schools for girls from rural villages who had not been able to attend school.

Elsewhere in this annual report, we describe other aspects of Apache's stewardship commitment, including some exciting new initiatives.

At Apache, "finding a way" also means avoiding the beaten path. Our initial investment in Egypt, at a time when other operators were leaving, set the stage for the emergence of one of the company's core growth areas. We see similar opportunities for growth in Australia, Canada and Argentina.

Apache's 2007 was an outstanding year by most measures for our shareholders and our skilled and dedicated team. Although we anticipate turbulent times ahead as the U.S. economy struggles to right itself, we remain dedicated to adding value for our shareholders.

Raymond Plank Chairman and Founder	G. Steven Farris President, Chief Executive Officer and Chief Operating Officer

Making stellar discoveries Down Under

Australia

With 7.6 million acres and an active drilling program, Apache has several catalysts for growth in Australia. Development of the Van Gogh and Pyrenees oil fields in the Exmouth Basin are expected to add significant production volumes by the end of the decade, and the Julimar and Reindeer fields in the Carnarvon Basin are expected to contribute to future gas volumes.

In 2007, oil production increased 16 percent and gas production rose 5 percent from the prior year. Proved reserves increased 31 percent to an estimated 268 million barrels of oil equivalent.

In 2008, Apache is planning to drill five additional wells at Julimar-an April 2007 Carnarvon discovery with estimated gross recoverable resource potential of 2 to 4 Tcf of natural gas. Also in the Carnarvon, Apache plans to drill two key exploration wells at Halyard and Marley.

The 2008 exploration program includes a seven-well program planned in the Gippsland Basin, across a large offshore acreage position adjacent to some of Australia's most prolific producing fields. Estimated resource potential in this program is more than 500 million barrels of oil equivalent.

Australia also provides a good example of the evolution of international gas markets as domestic users face competition for supply from international markets through the development of liquefied natural gas (LNG) facilities. Natural gas prices in the Carnarvon Basin increased from under $2 per Mcf to more than $7 per Mcf in the past year as demand increased from the Western Australia mining industry and large takeaway capacity from LNG facilities. Apache expects to sign a contract to sell gas from the Reindeer development during 2008, with first production in 2010.

Bright future in an ancient land

Egypt

Growth in Apache's Egypt Region continued in 2007, with net oil production increasing 7 percent and net gas production climbing 11 percent. The region is on track to achieve its goal of doubling operated production from 2005 levels by 2010.

Apache drilled several deep Jurassic oil and gas discoveries with substantial flow rates during 2007, including the Jade, Alexandrite, and Imhotep discoveries in the Matruh Concession in the northern part of the Khalda area. Other discoveries were recorded in the Northeast Abu Gharadig Concession operated by Shell, and on the East Ras Budran Concession, an onshore area near the Gulf of Suez, where a well tested more than 1,900 barrels of oil per day. Appraisals of all of these discoveries are planned during 2008.

The 2008 exploration program reaches across a range of plays and prospects that highlights the extent of Apache's portfolio, including prospects from the shallow Upper Bahariya and Abu Roash to the Cretaceous Alem el Bueib to the deep Jurassic formations. The region plans to drill four wildcats on the 9-million-acre Tharwa farm-in acquired during 2007.

By year-end 2008, Apache expects to complete construction of two new processing plants at the Salam gas plant which are expected to add net production of 90 MMcf to 100 Mcf of gas and 4,500 barrels of condensate per day. Continued expansion of several water-flood projects, with additional drilling and increased water injection capacity, is expected to build toward net production of 20,000 barrels of oil per day.

Scouting the northwest

Canada

Exploration and development activity in Apache's Canadian Region reaches across 6.8 million gross acres in the provinces of Alberta, British Columbia, Saskatchewan and the Northwest Territories.

Production and reserves declined somewhat in 2007 as a result of a reduction in capital spending associated with cost inflation and reduced gas-price realizations. The reduction in capital did not reflect our belief in the vast hydrocarbon potential in Western Canada.

Apache's 2008 winter drilling program includes nine wells in the Ootla area of British Columbia in the Muskwa Shale play with 50-percent partner EnCana. The program is designed to determine the commerciality of the play and will include experiments with multi-stage fracture stimulation programs to enhance flow rates. The potential recoverable resource from the combined holdings of 417,000 acres is an estimated 9 to 16 Tcf of gas net to Apache.

The region continues to target shallow gas accumulations, including coal bed methane (CBM) in fields such as Provost and Nevis; Apache is one of Canada's largest producers of CBM. With joint-venture partner EnCana, Apache is evaluating the commercial potential of the Mannville coals in the Nevis and Provost areas with net resource potential exceeding 1 Tcf. The North and South Grant Lands obtained through farm-ins in 2004 and 2005 provide additional CBM potential.

TAPPING Reliable STREAMS OF PRODUCTION

United States

Apache's Central Region brings the balance of long-lived reserves and consistent drilling results in the Permian Basin of West Texas and New Mexico, East Texas and the Anadarko Basin of Western Oklahoma.

The Gulf Coast Region consistently delivers high returns on invested capital and cash flow significantly in excess of its exploration and development spending.

In 2007, the Central Region increased production 18 percent by drilling 335 productive wells and augmented the region's asset base with the acquisition of producing properties in the Permian Basin with estimated proved reserves of 70 million barrels of oil equivalent. In 2008, the region will continue to actively exploit fields in the Permian Basin and Western Oklahoma.

The Gulf Coast Region, the company's largest in terms of production volume and revenues, comprises Apache's interests in and along the Gulf of Mexico, in the areas on - and offshore Louisiana and Texas. Apache has been the largest held-by-production acreage holder and the second-largest producer in Gulf waters less than 1,200 feet deep since 2004.

Gulf Coast activities in 2007 focused on an active drilling program, completing 65 out of 84 wells drilled, and restoring production impacted by the 2005 hurricanes. In 2008, the region will continue to develop opportunities near the company's extensive production base.

Encouraging activity in South America

Argentina

Activity increased in Argentina in 2007, the first full year of operation for Apache's newest core area.

At year's end, the Seccion Baños 2004-the first significant well drilled from a 700-square-mile (1,800-square-kilometer), 3-D seismic survey in Argentina's Tierra del Fuego-commenced production at a daily rate of 1,635 barrels of oil and 1.3 MMcf of gas from the Lower Cretaceous Springhill sandstone.The discovery followed two wells that developed the previously unexploited discovery at Cabo Nombre Sur, located offshore 4.2 miles (7 km) to the south of the latest well. On the mainland, Apache established the commerciality of two gas areas in the Neuquén Basin.

Apache receives low government-regulated pricing on a substantial portion of its natural gas production-an average of 76 cents per Mcf. Recently, we have signed contracts for the unregulated increment for approximately $3 per Mcf, although for reduced volumes. In response to gas shortages, the government has re-evaluated its gas pricing regulations and recently announced a "new gas/old gas" policy similar to U.S. regulations in the late 1970s. Gas shortages suggest that the government eventually may allow even regulated prices to increase in order to encourage more investments. No details have been published, and the effectiveness of the new regulations remains unclear. However, natural gas is in short supply and opportunities to find and develop it are abundant.

In November 2007, Apache was awarded exploration rights on two blocks comprising 1 million net acres on the Chilean side of Tierra del Fuego. The acreage is adjacent to Apache's 552,000 net acres on the Argentinean side of the island and represents a natural extension of our expanding exploration and production operations. Apache is finalizing the contracts with the Chilean government and plans to acquire 3-D seismic data in 2008.

Fostering efficiency in the Forties

North Sea

Apache's investments at the Forties Field were focused on enhancing the operating efficiency of the platforms and looking ahead to increasing the ultimate recovery from the largest field ever discovered in the United Kingdom sector of the North Sea, with an estimated 5 billion barrels of original oil in place.

Several key facilities projects were commissioned during 2007, including new power generation and multi-platform gas and power distribution systems, export pumping, produced water-handling and injection systems, and drilling rig-package upgrades.

Although operating efficiency improved 11 percent from 2006, production was 8 percent below 2006 levels as drilling was deferred to focus on completing topside projects. In 2008, completion of several facilities upgrades is planned, as well as 15 new wells that will add to the field's productive capacity. The inventory of future drilling projects was updated with a newly reprocessed seismic survey that identified bypassed oil in the main reservoir units.

Considering the global perspective

Stewardship

The dictionary defines stewardship as "the careful and responsible management of something entrusted to one's care." Apache's commitment to stewardship spans five decades and reaches from environmental responsibility to the multi-faceted goal of leaving the world a better place.

Environment

Because Apache is part of an industry that derives benefit from the earth's resources, we maintain a commitment to operate in an environmentally responsible manner throughout the world.

Apache incorporates voluntary, cost-effective actions to reduce, sequester or offset greenhouse gas emissions. Apache has identified emission reduction projects that are clearly economic to implement, yet result in significant reductions of greenhouse gases.

In 2007, Apache commissioned the innovative Forties Field natural gas ring main system that permitted replacement of diesel-burning electric generators with more efficient, cleaner-burning, natural gas electric generators. The completion of a gas and power ring and the installation of new electric generators increased the efficiency of the field, cut gas flaring and consumption of diesel fuel, and reduced emissions of carbon dioxide (CO2) by about 25 percent.

Similarly, Apache is replacing diesel-powered generators in Egypt's Western Desert with gas-powered units, another effort that will reduce emissions by 3,900 tons while cutting costs by $20 million per year.

In Canada, Apache's Midale Field Enhanced Oil Recovery Project is injecting 10 million tons of CO2 into oil reservoirs that would have been emitted from a coal gasification plant in North Dakota.

Also in Canada, Apache injects a mixture of CO2 and hydrogen sulfide (H2S) in an enhanced oil recovery project in the Keg River oil reservoir. The project injects 32,000 tons of CO2 and has enabled Apache to cease operation of a sulfur plant. In a related development, the buoyant market for sulfur has enabled the company to sell a stockpile of 200,000 tons of sulfur for use in fertilizer.

Leaving the World a Better Place

Almost every week, across Apache's operating regions, employees are volunteering or providing financial support for a wide range of educational, civic and charitable activities. The company's philanthropic activities place a special emphasis on education, the environment, and the arts.

To foster the giving spirit, in 2007, Apache donated $683,000 to match contributions from 700 employees to the organizations of their choice.

One initiative, which joins Apache's environmental stewardship with its philanthropic activities, gained significant momentum in 2007 and early 2008. The Apache Foundation Tree Program is now about one-third of the way toward achieving its goal of planting 1 million trees, with a focus in areas near significant Apache operations.

Trees are an effective way to improve communities and the environment by reducing sound, producing oxygen, storing carbon, providing shade, reducing erosion and increasing property values. In 2007, the foundation donated trees to schools, communities and conservation programs.

Apache's support for the Ucross Foundation in Wyoming reaches back to its founding more than 25 years ago. The foundation is best known in the arts through the more than 1,100 fellowships that have been granted through its Artists-in-Residence program. Alumni of this program have received Broadway's Tony Awards, Pulitzer Prizes and other national and international recognition.

Fund for Teachers is now in its eighth year of providing summer sabbaticals and growth experiences for teachers from pre-kindergarten through high school across the nation. Teachers, chosen for the creativity of proposals of their own design, return from their experiences motivated to teach and transfer their enthusiasm and commitment for lifetime learning to their bright-eyed pupils. Fund for Teachers has created opportunities for more than 3,100 teachers, 550 of them in 2007, with awards of up to $5,000 each.

As noted earlier in this report, Apache partnered with Springboard - Educating the Future, a U.S. non-profit; Egypt's National Council for Childhood and Motherhood; and Egyptian non-profit Sawiris Foundation to build 200 schools to provide the first opportunity for many young Egyptian girls-particularly in rural areas-to attend school and learn to read, write and perform basic arithmetic.

Apache's newest initiative grew from Chairman and Founder Raymond Plank's recent reunion with Dr. William T. Close, 65 years after their first encounter in the U.S. Army Air Corps. Dr. Close, who spent 16 years practicing medicine in Africa, provided keen insight into the daily struggle to provide medical care in some of the poorest nations in the world.

Dr. Close and a group of dedicated professionals are developing a new program that will send talented U.S.-trained nursing educators to poor countries for six to eight weeks, enabling them to immerse themselves in the education system of the host country, and providing an interactive experience that will be valuable for the educators and the students. With the agreement of this great humanitarian, this new initiative will be called the W.T. Close Fund for Teaching Nurses.

As with any new venture, this program will need financial support to grow. If you are interested in joining us, please call 800.705.6410 or 713.296.7490 or e-mail info@wtclosefundforteachingnurses.org.

To learn more about Apache's outreach initiatives, please visit this page on Apache's Web site, www.apachecorp.com/about_us/our_commitments, or go to the following Web sites: www.ucrossfoundation.org, www.fundforteachers.org and www.springboarded.org. We invite you to join our employees, directors, friends and others to support these worthy programs.

At Apache, stewardship is part of the culture and fabric. Raymond Plank distills the concept with these words: "You should leave the world a better place than you found it."

Shareholder Information

The Company has paid cash dividends on its common stock for 43 consecutive years through December 31, 2007. Future dividend payments will depend upon the Company's level of earnings, financial requirements and other relevant factors.

Apache common stock is listed on the New York and Chicago stock exchanges and the NASDAQ Stock Market (symbol APA). At December 31, 2007, the Company's shares of common stock outstanding were held by approximately 7,000 shareholders of record and 363,000 beneficial owners. Also listed on the New York Stock Exchange are:

Apache Finance Canada's 7.75% notes, due 2029 (symbol APA 29)

Corporate Offices

One Post Oak Central
2000 Post Oak Boulevard, Suite 100
Houston, Texas 77056-4400
713.296.6000

Independent Public Accountants

Ernst & Young L.L.P.
Five Houston Center
1401 McKinney Street, Suite 1200
Houston, Texas 77010-2007

Stock Transfer Agent and Registrar

Wells Fargo Bank, N.A.
Attn: Shareowner Services
PO Box 64854
South St. Paul, Minnesota 55164-0854
651.450.4064 or 800.468.9716

Communications concerning the transfer of shares, lost certificates, dividend checks, duplicate mailings or change of address should be directed to the stock transfer agent. Shareholders can access account information on the Web site:

www.shareowneronline.com

Dividend Reinvestment Plan

Shareholders of record may invest their dividends automatically in additional shares of Apache common stock at the market price. Participants may also invest up to an additional $25,000 in Apache shares each quarter through this service. All bank service fees and brokerage commissions on purchases are paid by Apache. A prospectus describing the terms of the Plan and an authorization form may be obtained from the Company's stock transfer agent, Wells Fargo Bank, N.A.

Direct Registration

Shareholders of record may hold their shares of Apache common stock in book-entry form. This eliminates costs related to safekeeping or replacing paper stock certificates. In addition, shareholders of record may request electronic movement of book-entry shares between your account with the Company's stock transfer agent and your broker. Stock certificates may be converted to book-entry shares at any time. Questions regarding this service may be directed to the Company's stock transfer agent, Wells Fargo Bank, N.A.

Annual Meeting

Apache will hold its annual meeting of shareholders at:

Ballroom, Hilton Houston Post Oak
2001 Post Oak Boulevard, Houston, Texas
Thursday, May 8, 2008, 10am
Apache plans to webcast the annual meeting live; connect through the Apache Web site:

www.apachecorp.com

Stock Held in “Street Name”

The Company maintains a direct mailing list to ensure that shareholders with stock held in brokerage accounts receive information on a timely basis. Shareholders wanting to be added to this list should direct their requests to:
Apache’s Public and International Affairs Department
2000 Post Oak Boulevard, Suite 100
Houston, Texas 77056-4400
by calling 713.296.6157
or by registering on Apache’s Web site:

www.apachecorp.com

Form 10-K Request

Shareholders and other persons interested in obtaining, without cost, a copy of the Company's Form 10-K filed with the Securities and Exchange Commission may do so by writing to:
Cheri L. Peper, Corporate Secretary
2000 Post Oak Boulevard, Suite 100
Houston, Texas 77056-4400

Investor Relations

Shareholders, brokers, securities analysts or portfolio managers seeking information about the Company are welcome to contact:

Robert J. Dye, Vice President of Investor Relations
713.296.6662
Members of the news media and others seeking information about the Company should contact:

Bill Mintz, Director of Public Affairs, at
713.296.7276

Web Site

www.apachecorp.com

APACHE'S SAFETY COMMITMENT

As the company's operations have expanded across the globe, spreading Apache's safety culture has been an important objective, building on a foundation of field-driven empowerment of workers to accept personal responsibility for safety. Apache believes that work-related injuries and illnesses are prevent-able, and continues to foster safety leadership throughout the organization, engage employees and contractors in worker competency programs, and perform critical self-evaluations to detect potential compliance issues.

The number of injuries experienced that resulted in time away from work declined 14 percent in 2007 from 2006, and the rate of recordable injuries was 7 percent below 2006 levels. Driving safety programs resulted in 34 percent fewer accidents in 2007 than in 2006.

Board of Directors

Corporate Officers