Apache Corporation has completed the previously announced sale of common stock and depositary shares with net proceeds from the offerings to the company totaling approximately $3.48 billion after underwriting discounts and before expenses.

The option to purchase additional shares of common stock exercised by the underwriters increased the size of the common stock offering from 23 million shares to 26.45 million shares. The common stock offering was priced at $88 per share. Net proceeds, before expenses, from the common stock offering were approximately $2.26 billion.

The underwriters also exercised their option to purchase additional depositary shares that increased the size of the depositary share offering from 22 million shares to 25.3 million shares. Net proceeds, before expenses, from the depositary share offering were approximately $1.23 billion. Each depositary share represents a 1/20th interest in a share of the company's 6.00% Mandatory Convertible Preferred Stock, Series D, with an initial liquidation preference of $1,000 per share (equivalent to $50 liquidation preference per depositary share).

Goldman, Sachs & Co., BofA Merrill Lynch, Citi and J.P. Morgan were joint book-running managers for the offerings

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