Apache Declares Cash Dividends

The Board of Directors of Apache Corporation has declared regular cash dividends on the company's common shares and Series B Cumulative Preferred Stock.

The dividend on the common shares is payable on Feb. 22, 2007, to stockholders of record on Jan. 22, 2007, at the rate of 15 cents per share.

The dividend on the Series B preferred stock is payable Jan. 31, 2007, to holders of record on Jan. 15, 2007. The payment will be $14.20 per share, which is equivalent to $1.42 per depository share, each representing 1/10th of a share of Series B preferred stock. The Series B preferred is not currently listed on any exchange.

Apache's annual meeting will be held at 10:00 a.m. Central Time on Wednesday, May 2, 2007, at the Hilton Houston Post Oak Hotel, 2001 Post Oak Boulevard, Houston, Texas. Shareholders of record at the close of business on Tuesday, March 13, 2007, are entitled to receive notice of the meeting and to vote the shares of Apache common stock they held as of that date.

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