Fitch Affirms Apache's Long-Term Ratings at 'BBB+'; Revises Outlook to Positive

Fitch Ratings has affirmed the Issuer Default Rating and senior unsecured ratings of Apache Corporation

at 'BBB+'. In addition, Fitch has revised the company's Outlook to Positive from Stable. Ratings for the company's preferreds have been withdrawn. Approximately $10.93 billion in debt is impacted by today's rating action. A full list of ratings follows at the end of this press release. KEY RATINGS DRIVERS Apache's ratings are supported by the company's recent debt repayments; rising exposure to liquids (liquids production reached 55% on a pro forma basis in Q3, the highest in the company's history); good size and