Exhibit 2 Apache Corporation, Selected Historical Financial Data(in S millions, except as ed) 1986 19871988 1989 1990 Income statements 106.0 100.5 141.7 246.9 273.4 operating Expenses Depreciation, depletion and amortization 82.1 184.6 614 96.3 116.8 Operating costs 23.5 25.5 27.6 42.5 44.6 Gathering and marketing costs 313 22.1 Administrative, selling and other 14.6 18.9 14524 5 Financing costs, net 15.9 110 Income from continuing operations before ncome taxes (30.1)(1436) 7.1 32.0 574 Provision for income taxes (148) 621) 1.6 172 Income from continuing operations (153) (81.5) 5.5 22.2 40.2 Discontinued operations Income from discontinued operations, net of income taxes 0.0 Gain on sale of discontinued ations, net of 0.0 8.8 0.0 Net income before extraordinary item (10.9) 72.1) 8.1 222 Extraordinary item Gain on early extinguishment from 0.0 1.0 0.0 (10.9) (71.0) 222 Balance sheets Current assets 89.6 121.0 1092 1326 138.5 Property and equipment, net 490.7 570.9 6036 6634 4.3 20.0 21.6 28.2 644.6 504.4 701.7 829.7 Curre 75.6 91.3 873 1055 1176 debt 260.9 238.8 198.1 200.0 Shareholders'equity 2074 128.8 206.9 350.3 386.8 Financial Ratio Return on assets 1.3% 2.9% 4.8% Return on average equity 54% 8.0% 10.9% Current ratio 1.17 1.23 Debt capital ratio 34.1% Interest expense(net) 14.5 nterest coverage Debt rating(subordinated convertible Price-earnings rat 33.2 194 s287 s203 s2.70 Common shares outstanding(millions) 20.3 Year-end stock price s71∥2 s778$183/8 Unlevered(asset) betab 0.82 bThe mean asset beta, estimated by morgan Stanley for six independent companies including Apache, was 0.64DO NOT COPY MW Petroleum Corporation (A) 295-029 9 Exhibit 2xxx Apache Corporation, Selected Historical Financial Data (in $ millions, except as noted) 1986 1987 1988 1989 1990 Income Statements Revenues 106.0 100.5 141.7 246.9 273.4 Operating Expenses: Depreciation, depletion and amortization 82.1 184.6 61.4 96.3 116.8 Operating costs 23.5 25.5 27.6 42.5 44.6 Gathering and marketing costs 14.4 31.3 22.1 Administrative, selling and other 14.6 18.9 16.7 23.4 21.5 Financing costs, net 15.9 15.1 14.5 21.4 11.0 Income from continuing operations before income taxes (30.1) (143.6) 7.1 32.0 57.4 Provision for income taxes (14.8) (62.1) 1.6 9.8 17.2 Income from continuing operations (15.3) (81.5) 5.5 22.2 40.2 Discontinued operations: Income from discontinued operations, net of income taxes 4.4 0.6 2.6 0.0 0.0 Gain on sale of discontinued operations, net of income taxes 0.0 8.8 0.0 0.0 0.0 Net income before extraordinary item (10.9) (72.1) 8.1 22.2 40.2 Extraordinary item: Gain on early extinguishment from debt, net of income taxes 0.0 1.1 1.0 0.0 0.0 Net income (loss) (10.9) (71.0) 9.1 22.2 40.2 Balance Sheets Current assets 89.6 121.0 109.2 132.6 138.5 Property and equipment, net 490.7 363.4 570.9 603.6 663.4 Other assets 64.3 20.0 21.6 28.2 27.8 Total assets 644.6 504.4 701.7 764.4 829.7 Current liabilities 75.6 91.3 87.3 105.5 117.6 Long term debt 260.9 238.8 320.0 198.1 200.0 Shareholders’ equity 207.4 128.8 206.9 350.3 386.8 Financial Ratios Return on assets 1.3% 2.9% 4.8% Return on average equity 5.4% 8.0% 10.9% Current ratio 1.17 1.26 1.11 1.23 1.13 Debt / capital ratio 55.7% 65.0% 60.7% 36.1% 34.1% Interest expense (net) 15.9 15.1 14.5 21.4 11.0 Interest coverage 1.7 2.5 6.2 Debt rating (subordinated convertible debentures) Ba3 B2 B2 NRa Ba3 Price - earnings ratio 33.2 19.4 17.9 Cash flow per share $2.87 $2.45 $2.03 $2.70 $3.52 Common shares outstanding (millions) 20.3 20.1 33.0 44.0 44.7 Year-end stock price $9 $7 1//2 $7 7/8 $18 3/8 $14 5/8 Unlevered (asset) betab 0.82 aNot rated. bThe mean asset beta, estimated by Morgan Stanley for six independent companies including Apache, was 0.64