Apache Increases Common Dividend 13 Percent to 17 Cents Per Share

The Board of Directors of Apache Corporation APA today announced it has raised the regular quarterly cash dividend on the company's common shares to 17 cents per share, an increase of 13 percent. "Apache's Board of Directors decided to increase the dividend based on the company's strong future growth prospects and financial position. Apache earned more in the first three quarters of 2011 than in any other full year and is on track to extend production growth to 31 out of the past 33 years.  With a balanced mix of oil and gas producing assets and a deep inventory of growth projects, we have confidence in Apache's future," said G. Steven Farris, Apache's chairman and chief executive officer. "The Board will continue to review the level of the common dividend annually in light of the company's further progress."