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CAPITAL STOCK (Tables) | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
Schedule of Common Stock Outstanding | The following table provides changes to the Company’s common shares outstanding for the years ended December 31, 2023, 2022, and 2021:
|  | For the Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
Balance, beginning of year |  | 311,559,149 |  |  | 346,930,765 |  |  | 377,482,630 |
Shares issued for stock-based compensation plans: |  |  |  |  |  |
Treasury shares issued |  | 2,016 |  |  | 1,996 |  |  | 3,133 |
Common shares issued |  | 725,914 |  |  | 791,381 |  |  | 649,231 |
Treasury shares acquired |  | (8,711,178) |  |  | (36,164,993) |  |  | (31,204,229) |
Balance, end of year |  | 303,575,901 |  |  | 311,559,149 |  |  | 346,930,765 |
Schedule of Reconciliation of Components of Basic and Diluted Net Income (Loss) Per Common Share | The following table provides a reconciliation of the components of basic and diluted net income per common share for the years ended December 31, 2023, 2022, and 2021:
|  | 2023 |  | 2022 |  | 2021
|  | Income |  | Shares |  | Per Share |  | Income |  | Shares |  | Per Share |  | Income |  | Shares |  | Per Share
|  | (In millions, except per share amounts)
Basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income attributable to common stock |  | $ | 2,855 |  |  | 308 |  |  | $ | 9.26 |  |  | $ | 3,674 |  |  | 332 |  |  | $ | 11.05 |  |  | $ | 973 |  |  | 374 |  |  | $ | 2.60 |
Effect of Dilutive Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock compensation awards |  | $ | — |  |  | 1 |  |  | $ | (0.01) |  |  | $ | — |  |  | 1 |  |  | $ | (0.03) |  |  | $ | — |  |  | 1 |  |  | $ | (0.01) |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income attributable to common stock |  | $ | 2,855 |  |  | 309 |  |  | $ | 9.25 |  |  | $ | 3,674 |  |  | 333 |  |  | $ | 11.02 |  |  | $ | 973 |  |  | 375 |  |  | $ | 2.59 |
Schedule of Description of Stock Based Compensation Plans and Related Costs | The following table summarizes the Company’s stock-settled and cash-settled compensation costs for the years ended December 31, 2023, 2022, and 2021:
|  | For the Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
|  | (In millions)
Stock-settled and cash-settled compensation expensed: |  |  |  |  |  |
Lease operating expenses |  | $ | 27 |  |  | $ | 82 |  |  | $ | 39 |
Exploration |  | 7 |  |  | 29 |  |  | 10 |
General and administrative |  | 50 |  |  | 193 |  |  | 108 |
Total stock-settled and cash-settled compensation expensed |  | 84 |  |  | 304 |  |  | 157 |
Stock-settled and cash-settled compensation capitalized |  | 13 |  |  | 44 |  |  | 18 |
Total stock-settled and cash-settled compensation costs |  | $ | 97 |  |  | $ | 348 |  |  | $ | 175 |
Schedule of Stock Options Activities | The following table summarizes stock option activity for the years ended December 31, 2023, 2022, and 2021:
|  | 2023 |  | 2022 |  | 2021
|  | Shares Under Option |  | Weighted Average Exercise Price |  | Shares Under Option |  | Weighted Average Exercise Price |  | Shares Under Option |  | Weighted Average Exercise Price
|  | (In thousands, except exercise price amounts)
Outstanding, beginning of year |  | 2,078 |  |  | $ | 57.71 |  |  | 3,012 |  |  | $ | 63.79 |  |  | 3,537 |  |  | $ | 72.10 |
Exercised |  | (12) |  |  | 42.38 |  |  | (99) |  |  | 42.09 |  |  | — |  |  | — |
Forfeited |  | — |  |  | — |  |  | (2) |  |  | 49.10 |  |  | — |  |  | — |
Expired |  | (601) |  |  | 80.53 |  |  | (833) |  |  | 81.56 |  |  | (525) |  |  | 119.83 |
Outstanding, end of year(1) |  | 1,465 |  |  | 48.48 |  |  | 2,078 |  |  | 57.71 |  |  | 3,012 |  |  | 63.79 |
Expected to vest |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Exercisable, end of year(1) |  | 1,465 |  |  | 48.48 |  |  | 2,078 |  |  | 57.71 |  |  | 3,012 |  |  | 63.79 |
(1)As of December 31, 2023, options exercisable and outstanding had a weighted average remaining contractual life of 3.1 years and aggregate intrinsic value of $33,000.
Schedule of Restricted Stock and Restricted Stock Units Activity | The following table summarizes stock-settled restricted stock unit activity for the years ended December 31, 2023, 2022, and 2021:
|  | 2023 |  | 2022 |  | 2021
|  | Units |  | Weighted Average Grant-Date Fair Value |  | Units |  | Weighted Average Grant-Date Fair Value |  | Units |  | Weighted Average Grant-Date Fair Value
|  | (In thousands, except per share amounts)
Non-vested, beginning of year |  | 1,885 |  |  | $ | 23.08 |  |  | 2,073 |  |  | $ | 19.98 |  |  | 1,552 |  |  | $ | 28.43 |
Granted |  | 661 |  |  | 41.60 |  |  | 847 |  |  | 29.90 |  |  | 1,506 |  |  | 16.46 |
Vested(3) |  | (975) |  |  | 23.31 |  |  | (978) |  |  | 22.39 |  |  | (857) |  |  | 29.13 |
Forfeited |  | (69) |  |  | 32.44 |  |  | (57) |  |  | 23.49 |  |  | (128) |  |  | 19.78 |
Expired |  | (22) |  |  | 27.81 |  |  | — |  |  | — |  |  | — |  |  | — |
Non-vested, end of year(1)(2) |  | 1,480 |  |  | 30.69 |  |  | 1,885 |  |  | 23.08 |  |  | 2,073 |  |  | 19.98 |
(1)As of December 31, 2023, there was $15 million of total unrecognized compensation cost related to 1,479,880 unvested stock-settled restricted stock units. (2)As of December 31, 2023, the weighted-average remaining life of unvested stock-settled restricted stock units is approximately 0.6 years. (3)The grant date fair values of the stock-settled awards vested during 2023, 2022, and 2021 were approximately $23 million, $22 million, and $25 million, respectively. The following table summarizes cash-settled restricted stock phantom unit activity for the years ended December 31, 2023, 2022, and 2021:
|  | For the Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
|  | (In thousands)
Non-vested, beginning of year |  | 5,709 |  |  | 6,402 |  |  | 4,423 |
Adjustment from ALTM transaction(1) |  | — |  |  | 143 |  |  | — |
Granted(2) |  | 1,972 |  |  | 2,568 |  |  | 4,441 |
Vested |  | (2,851) |  |  | (2,970) |  |  | (2,049) |
Forfeited |  | (340) |  |  | (434) |  |  | (413) |
Expired |  | (12) |  |  | — |  |  | — |
Non-vested, end of year(3) |  | 4,478 |  |  | 5,709 |  |  | 6,402 |
(1)Following the BCP Business Combination, certain employees were granted restricted stock phantom units based on APA’s common stock price to replace the equivalent value in restricted stock phantom units based on ALTM’s common stock price. (2)Restricted stock phantom units granted during 2023, 2022, and 2021 included 1,972,116, 2,512,602, and 4,375,546 awards, respectively, based on the per-share market price of APA common stock. Restricted stock phantom units granted during 2022 and 2021 included 55,546 and 65,327 awards, respectively, based on the per-share market price of ALTM common stock prior to the deconsolidation of Altus on February 22, 2022. (3)The outstanding liability for the unvested cash-settled restricted stock phantom units that had not been recognized as of December 31, 2023 was approximately $54 million. The following table summarizes cash-settled conditional restricted stock phantom unit activity for the years ended December 31, 2023, 2022, and 2021:
|  | For the Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
|  | (In thousands)
Non-vested, beginning of year |  | 4,835 |  |  | 4,531 |  |  | 3,417 |
Granted |  | 1,536 |  |  | 1,676 |  |  | 1,782 |
Vested |  | (1,593) |  |  | (656) |  |  | (76) |
Forfeited |  | (99) |  |  | (106) |  |  | (240) |
Expired |  | (50) |  |  | (610) |  |  | (352) |
Non-vested, end of year(1) |  | 4,629 |  |  | 4,835 |  |  | 4,531 |
(1)As of December 31, 2023, the outstanding liability for the unvested cash-settled conditional restricted stock phantom units that had not been recognized was approximately $24 million.

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