Apache Increases Common Stock Dividend 25 Percent

Apache announced that its Board of Directors has voted to raise the quarterly cash dividend on its common stock 25 percent, to 10 cents per share from 8 cents per share, effective with the November dividend payment.

This is the fourth consecutive year in which Apache has increased its common stock cash dividend. The company also paid a 10 percent common stock dividend in 2002, a 5 percent common stock dividend in 2003 and split its common stock two-for-one in 2004.

The dividend on the common shares is payable Nov. 22, 2005, to stockholders of record on Oct. 24, 2005.

The Board declared a regular cash dividend on Apache's Series B Cumulative Preferred Stock, payable Nov. 1, 2005, to holders of record on Oct. 15, 2005. 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 Corporation is a large independent oil and gas company with core operations in the United States, Canada, Egypt, Australia and the United Kingdom sector of the North Sea.