Apache Declares Cash Dividend

The Board of Directors of Apache Corporation (NYSE, Nasdaq: APA) 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 Aug. 22, 2006, to stockholders of record on July 21, 2006, at the rate of 10 cents per share.

The dividend on the Series B preferred stock is payable July 31, 2006, to holders of record on July 15, 2006. 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, the United Kingdom sector of the North Sea and Australia.