specifically , the company closed on several divestitures of non-core , gas-weighted assets in the oklahoma and texas panhandle areas . these decisions progressed apache 's efforts to invest to prioritize long-term returns and cash flow , strengthen its balance sheet , and maintain the company 's dividend . during 2019 , apache reported a loss attributable to common stock of $ 3.6 billion , or $ 9.43 per diluted common share , compared to net income of $ 40 million , or $ 0.11 per share in 2018 . the 2019 results include asset impairments of $ 2.9 billion and unproved leasehold impairments of $ 619 million . these non-cash impairments were primarily related to the company 's upstream assets in alpine high and gathering and processing assets from the consolidated results of altus midstream . given the prevailing gas and ngl price environment and disappointing performance of recent multi-well development pads , apache materially reduced planned investment and currently has no future drilling plans at alpine high . 28 operational highlights key operational highlights for the year include : united states equivalent production from the permian region , which accounts for 91 percent of apache 's total u.s. production , increased 21 percent from 2018 to 2019 driven by the success of the midland basin oil-focused drilling program and production increases at its alpine high field . the permian region averaged 11 operated rigs during the year , drilling 233 gross wells . international the egypt region 's gross equivalent production decreased 7 percent and net production decreased 11 percent from 2018 primarily a result of natural decline and fewer wells brought on-line during the period . the region continues to build and enhance its robust drilling inventory , supplemented with recent seismic acquisitions and new play concept evaluations , on both new and existing acreage . the north sea region averaged 3 rigs during 2019 , drilling 11 gross development wells with a 100 percent success rate . during the year , the region averaged production of 61 mboe/d and contributed $ 1.3 billion of revenues . production increased 9 percent from 2018 , primarily the result of production from the garten field , which came on-line in november 2018. the north sea region 's storr exploration discovery came on-line in the fourth quarter of 2019 , and its second well at garten came on-line in the first quarter of 2020. the first well at the company 's storr development is a high-rate gas condensate well that is tied back to existing infrastructure at the beryl alpha platform . the garten # 2 well encountered approximately 1,200 feet of net pay and compares favorably to the garten # 1 well , which came on-line in november 2018 with initial 30-day production rates of 13 mb/d and 17 mmcf/d from 700 feet of net pay . apache holds a 100 percent working interest in the garten complex . during 2019 , the company drilled an exploration well , the maka central-1 , in block 58 offshore suriname and announced a significant oil discovery in january 2020. the well successfully tested the presence of hydrocarbons in multiple stacked targets in the upper cretaceous-aged campanian and santonian intervals . the well confirmed 73 meters of oil pay and 50 meters of light oil and gas condensate pay , and appraisal planning is underway . the company began drilling its second exploration well , sapakara west-1 , in january 2020. following completion of the sapakara west-1 , the company will drill a third , and likely a fourth exploration test in block 58 during 2020. in december 2019 , apache entered into a joint venture agreement to explore and develop block 58 offshore suriname . under the terms of the agreement , apache and total s.a. will each hold a 50 percent working interest in block 58 , which comprises approximately 1.4 million acres in water depths ranging from less than 100 meters to more than 2,100 meters . in exchange for a 50 percent interest , apache will receive various forms of consideration , including $ 5 billion of carry for its first $ 7.5 billion of appraisal and development capital and 25 percent carry on all appraisal and development capital beyond its first $ 7.5 billion . the company also received $ 100 million at closing and $ 75 million in the first quarter of 2020 for reimbursement of 50 percent of all costs incurred on block 58 to date . apache will receive an additional $ 75 million upon achievement of first oil production . apache will operate the drilling of the first three exploration wells in the block ( and may operate a fourth ) , including the maka central-1 well , and subsequently transfer operatorship to total . for a more detailed discussion related to apache 's various geographic regions , please refer to “ upstream exploration and production properties—operating areas ” set forth in part i , item 1 and 2 of this form 10-k. acquisition and divestiture activity over apache 's 65-year history , the company has repeatedly demonstrated its ability to capitalize quickly and decisively on changes in its industry and economic conditions . a key component of this strategy is to continuously review and optimize apache 's portfolio of assets in response to these changes . most recently , apache has completed a series of divestitures designed to monetize nonstrategic assets and enhance apache 's portfolio in order to allocate resources to more impactful exploration and development opportunities . these divestments include : midcontinent/gulf coast divestiture in the second quarter of 2019 , apache completed the sale of non-core , gas-weighted assets in the woodford-scoop and stack plays for aggregate cash proceeds of approximately $ 223 million . story_separator_special_tag the impairments for alpine high and altus midstream were associated with the company 's fourth quarter 2019 capital plan allocation decision to materially reduce planned investment in the alpine high play . during 2018 , the company recorded asset impairments totaling $ 511 million in connection with fair value assessments , including $ 328 million for oil and gas proved properties in the u.s. and egypt , $ 56 million impairment of a gathering and processing facility in oklahoma , $ 113 million for the impairment of an equity method investment based on a negotiated sales price , a $ 10 million impairment on the carrying values of capitalized exploratory well costs related to the sale of unproved properties in the north sea , and $ 4 million for inventory write-downs . the following table presents a summary of asset impairments recorded for 2019 , 2018 , and 2017 : replace_table_token_18_th financing costs , net financing costs incurred during the period comprised the following : replace_table_token_19_th net financing costs decrease d $ 16 million from 2018 . the decrease is primarily related to lower interest expense and a smaller loss recognized from the extinguishment of debt in two separate debt tender offer transactions occurring during 2019 and 2018 as further discussed below under “ capital resources and liquidity . ” interest income in 2019 decreased $ 9 million compared to the prior year on lower average cash balances held by the company . 37 provision for income taxes income tax expense in 2019 totaled $ 674 million . during 2019 , apache 's effective tax rate was impacted primarily by an increase in the amount of valuation allowance against the company 's u.s. deferred tax assets . income tax expense in 2018 totaled $ 672 million . during 2018 , apache 's effective tax rate was impacted primarily by the adjustment to the provision amounts recorded in 2017 related to the enactment of the tax cuts and jobs act ( the tcja ) and an increase in the company 's valuation allowance . on december 22 , 2017 , the tcja was signed into law . in addition to reducing the corporate income tax rate from 35 percent to 21 percent effective january 1 , 2018 , certain provisions in the tcja move the u.s. away from a worldwide tax system and closer to a territorial system for earnings of foreign corporations , establishing a participation exemption system for taxation of foreign income . the new law includes a transition rule to effect this participation exemption regime . as a result of the enacted legislation , taxpayers were required to include in taxable income for the tax year ending december 31 , 2017 , the pro rata share of deferred income of each specified foreign corporation with respect to which the taxpayer is a u.s. shareholder . in 2017 , the company recorded a $ 419 million provisional deferred tax expense attributable to the deemed repatriation of foreign earnings required under the tcja . also on december 22 , 2017 , the sec staff issued staff accounting bulletin no . 118 ( sab 118 ) , which provides guidance for the application of accounting standards codification ( asc ) topic 740 , income taxes , for the income tax effects of the tcja . sab 118 provides a measurement period which should not extend beyond one year of the enactment date of the tcja . in 2018 , the company recorded an additional $ 103 million deferred tax expense attributable to the deemed repatriation of foreign earnings . this deferred tax expense combined with the provisional amount recorded in 2017 were fully offset by available foreign tax credits . the company completed its analysis of the income tax effects of the tcja in the fourth quarter of 2018. apache recorded a full valuation allowance against its u.s. net deferred tax assets . apache will continue to maintain a full valuation allowance on its u.s. net deferred tax assets until there is sufficient evidence to support the reversal of all or some portion of this allowance . for additional information regarding income taxes , please refer to note 10—income taxes in the notes to consolidated financial statements set forth in part iv , item 15 of this form 10-k. 38 capital and operational outlook apache 's strategic approach and multi-year outlook emphasizes retaining cash flow in excess of the company 's dividend payments , reducing outstanding debt , prioritizing long-term returns over growth , aggressively managing its cost structure , and advancing exploration and appraisal activities in suriname . apache 's differentiated asset portfolio and continued capital allocation discipline will drive these efforts . apache currently plans to invest $ 1.6 billion to $ 1.9 billion in its upstream oil and gas activities in 2020 , assuming wti pricing of approximately $ 50 per barrel . in terms of capital allocation , alpine high will receive minimal to no funding , and some capital will be shifted from permian oil projects to our egypt region . based on current plan projections , for 2020 , the company expects to : maintain its current dividend ; retain cash flow to initiate progress on debt reduction goals ; allocate approximately $ 200 million to exploration ; and achieve flat-to-low single-digit corporate oil production growth , year-over-year . to the extent wti pricing continues to fall , capital investment will be reduced , as will near-term production outlooks . however , if oil prices move materially higher , the company will prioritize further debt reduction over increasing capital activity . apache also continues cost management efforts , centralizing the organization and emphasizing incentives directly related to specific asset performance rather than a region focus . the company expects to achieve at least $ 150 million of annual savings from overhead and operating cost reductions associated with this initiative . separate from the company 's upstream oil and gas activities , altus will primarily direct

cash and cash equivalents at december 31 , 2019 , apache had $ 247 million in cash and cash equivalents , of which approximately $ 6 million was held by altus . the majority of the cash is invested in highly liquid , investment-grade instruments with maturities of three months or less at the time of purchase . debt at december 31 , 2019 , outstanding debt , which consisted of notes , debentures , subsidiary credit facility borrowings , and finance lease obligations , totaled $ 8.6 billion , of which approximately $ 406 million was related to altus . current debt as of december 31 , 2019 , included $ 11 million for finance lease obligations , of which $ 10 million was related to altus . available credit facilities in march 2018 , the company entered into a revolving credit facility with commitments totaling $ 4.0 billion . in march 2019 , the term of this facility was extended by one year to march 2024 ( subject to apache 's remaining one-year extension option ) pursuant to apache 's exercise of an extension option . the company can increase commitments up to $ 5.0 billion by adding new lenders or obtaining the consent of any increasing existing lenders . the facility includes a letter of credit subfacility of up to $ 3.0 billion , of which $ 2.08 billion was committed as of december 31 , 2019 . the facility is for general corporate purposes and committed borrowing capacity fully supports apache 's commercial paper program . letters of credit are available for security needs , including in respect of abandonment obligations assumed in various north sea acquisitions . as of december 31 , 2019 , there were no borrowings or letters of credit outstanding under this facility . at apache 's option , the interest rate per annum for borrowings under the 2018 facility is either a base rate , as defined , plus a margin , or the london inter-bank offered rate ( libor ) , plus a margin . apache also pays quarterly a facility fee at a per annum rate on total commitments .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash and cash equivalents at december 31 , 2019 , apache had $ 247 million in cash and cash equivalents , of which approximately $ 6 million was held by altus . the majority of the cash is invested in highly liquid , investment-grade instruments with maturities of three months or less at the time of purchase . debt at december 31 , 2019 , outstanding debt , which consisted of notes , debentures , subsidiary credit facility borrowings , and finance lease obligations , totaled $ 8.6 billion , of which approximately $ 406 million was related to altus . current debt as of december 31 , 2019 , included $ 11 million for finance lease obligations , of which $ 10 million was related to altus . available credit facilities in march 2018 , the company entered into a revolving credit facility with commitments totaling $ 4.0 billion . in march 2019 , the term of this facility was extended by one year to march 2024 ( subject to apache 's remaining one-year extension option ) pursuant to apache 's exercise of an extension option . the company can increase commitments up to $ 5.0 billion by adding new lenders or obtaining the consent of any increasing existing lenders . the facility includes a letter of credit subfacility of up to $ 3.0 billion , of which $ 2.08 billion was committed as of december 31 , 2019 . the facility is for general corporate purposes and committed borrowing capacity fully supports apache 's commercial paper program . letters of credit are available for security needs , including in respect of abandonment obligations assumed in various north sea acquisitions . as of december 31 , 2019 , there were no borrowings or letters of credit outstanding under this facility . at apache 's option , the interest rate per annum for borrowings under the 2018 facility is either a base rate , as defined , plus a margin , or the london inter-bank offered rate ( libor ) , plus a margin . apache also pays quarterly a facility fee at a per annum rate on total commitments .
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 Suspicious Activity Report : specifically , the company closed on several divestitures of non-core , gas-weighted assets in the oklahoma and texas panhandle areas . these decisions progressed apache 's efforts to invest to prioritize long-term returns and cash flow , strengthen its balance sheet , and maintain the company 's dividend . during 2019 , apache reported a loss attributable to common stock of $ 3.6 billion , or $ 9.43 per diluted common share , compared to net income of $ 40 million , or $ 0.11 per share in 2018 . the 2019 results include asset impairments of $ 2.9 billion and unproved leasehold impairments of $ 619 million . these non-cash impairments were primarily related to the company 's upstream assets in alpine high and gathering and processing assets from the consolidated results of altus midstream . given the prevailing gas and ngl price environment and disappointing performance of recent multi-well development pads , apache materially reduced planned investment and currently has no future drilling plans at alpine high . 28 operational highlights key operational highlights for the year include : united states equivalent production from the permian region , which accounts for 91 percent of apache 's total u.s. production , increased 21 percent from 2018 to 2019 driven by the success of the midland basin oil-focused drilling program and production increases at its alpine high field . the permian region averaged 11 operated rigs during the year , drilling 233 gross wells . international the egypt region 's gross equivalent production decreased 7 percent and net production decreased 11 percent from 2018 primarily a result of natural decline and fewer wells brought on-line during the period . the region continues to build and enhance its robust drilling inventory , supplemented with recent seismic acquisitions and new play concept evaluations , on both new and existing acreage . the north sea region averaged 3 rigs during 2019 , drilling 11 gross development wells with a 100 percent success rate . during the year , the region averaged production of 61 mboe/d and contributed $ 1.3 billion of revenues . production increased 9 percent from 2018 , primarily the result of production from the garten field , which came on-line in november 2018. the north sea region 's storr exploration discovery came on-line in the fourth quarter of 2019 , and its second well at garten came on-line in the first quarter of 2020. the first well at the company 's storr development is a high-rate gas condensate well that is tied back to existing infrastructure at the beryl alpha platform . the garten # 2 well encountered approximately 1,200 feet of net pay and compares favorably to the garten # 1 well , which came on-line in november 2018 with initial 30-day production rates of 13 mb/d and 17 mmcf/d from 700 feet of net pay . apache holds a 100 percent working interest in the garten complex . during 2019 , the company drilled an exploration well , the maka central-1 , in block 58 offshore suriname and announced a significant oil discovery in january 2020. the well successfully tested the presence of hydrocarbons in multiple stacked targets in the upper cretaceous-aged campanian and santonian intervals . the well confirmed 73 meters of oil pay and 50 meters of light oil and gas condensate pay , and appraisal planning is underway . the company began drilling its second exploration well , sapakara west-1 , in january 2020. following completion of the sapakara west-1 , the company will drill a third , and likely a fourth exploration test in block 58 during 2020. in december 2019 , apache entered into a joint venture agreement to explore and develop block 58 offshore suriname . under the terms of the agreement , apache and total s.a. will each hold a 50 percent working interest in block 58 , which comprises approximately 1.4 million acres in water depths ranging from less than 100 meters to more than 2,100 meters . in exchange for a 50 percent interest , apache will receive various forms of consideration , including $ 5 billion of carry for its first $ 7.5 billion of appraisal and development capital and 25 percent carry on all appraisal and development capital beyond its first $ 7.5 billion . the company also received $ 100 million at closing and $ 75 million in the first quarter of 2020 for reimbursement of 50 percent of all costs incurred on block 58 to date . apache will receive an additional $ 75 million upon achievement of first oil production . apache will operate the drilling of the first three exploration wells in the block ( and may operate a fourth ) , including the maka central-1 well , and subsequently transfer operatorship to total . for a more detailed discussion related to apache 's various geographic regions , please refer to “ upstream exploration and production properties—operating areas ” set forth in part i , item 1 and 2 of this form 10-k. acquisition and divestiture activity over apache 's 65-year history , the company has repeatedly demonstrated its ability to capitalize quickly and decisively on changes in its industry and economic conditions . a key component of this strategy is to continuously review and optimize apache 's portfolio of assets in response to these changes . most recently , apache has completed a series of divestitures designed to monetize nonstrategic assets and enhance apache 's portfolio in order to allocate resources to more impactful exploration and development opportunities . these divestments include : midcontinent/gulf coast divestiture in the second quarter of 2019 , apache completed the sale of non-core , gas-weighted assets in the woodford-scoop and stack plays for aggregate cash proceeds of approximately $ 223 million . story_separator_special_tag the impairments for alpine high and altus midstream were associated with the company 's fourth quarter 2019 capital plan allocation decision to materially reduce planned investment in the alpine high play . during 2018 , the company recorded asset impairments totaling $ 511 million in connection with fair value assessments , including $ 328 million for oil and gas proved properties in the u.s. and egypt , $ 56 million impairment of a gathering and processing facility in oklahoma , $ 113 million for the impairment of an equity method investment based on a negotiated sales price , a $ 10 million impairment on the carrying values of capitalized exploratory well costs related to the sale of unproved properties in the north sea , and $ 4 million for inventory write-downs . the following table presents a summary of asset impairments recorded for 2019 , 2018 , and 2017 : replace_table_token_18_th financing costs , net financing costs incurred during the period comprised the following : replace_table_token_19_th net financing costs decrease d $ 16 million from 2018 . the decrease is primarily related to lower interest expense and a smaller loss recognized from the extinguishment of debt in two separate debt tender offer transactions occurring during 2019 and 2018 as further discussed below under “ capital resources and liquidity . ” interest income in 2019 decreased $ 9 million compared to the prior year on lower average cash balances held by the company . 37 provision for income taxes income tax expense in 2019 totaled $ 674 million . during 2019 , apache 's effective tax rate was impacted primarily by an increase in the amount of valuation allowance against the company 's u.s. deferred tax assets . income tax expense in 2018 totaled $ 672 million . during 2018 , apache 's effective tax rate was impacted primarily by the adjustment to the provision amounts recorded in 2017 related to the enactment of the tax cuts and jobs act ( the tcja ) and an increase in the company 's valuation allowance . on december 22 , 2017 , the tcja was signed into law . in addition to reducing the corporate income tax rate from 35 percent to 21 percent effective january 1 , 2018 , certain provisions in the tcja move the u.s. away from a worldwide tax system and closer to a territorial system for earnings of foreign corporations , establishing a participation exemption system for taxation of foreign income . the new law includes a transition rule to effect this participation exemption regime . as a result of the enacted legislation , taxpayers were required to include in taxable income for the tax year ending december 31 , 2017 , the pro rata share of deferred income of each specified foreign corporation with respect to which the taxpayer is a u.s. shareholder . in 2017 , the company recorded a $ 419 million provisional deferred tax expense attributable to the deemed repatriation of foreign earnings required under the tcja . also on december 22 , 2017 , the sec staff issued staff accounting bulletin no . 118 ( sab 118 ) , which provides guidance for the application of accounting standards codification ( asc ) topic 740 , income taxes , for the income tax effects of the tcja . sab 118 provides a measurement period which should not extend beyond one year of the enactment date of the tcja . in 2018 , the company recorded an additional $ 103 million deferred tax expense attributable to the deemed repatriation of foreign earnings . this deferred tax expense combined with the provisional amount recorded in 2017 were fully offset by available foreign tax credits . the company completed its analysis of the income tax effects of the tcja in the fourth quarter of 2018. apache recorded a full valuation allowance against its u.s. net deferred tax assets . apache will continue to maintain a full valuation allowance on its u.s. net deferred tax assets until there is sufficient evidence to support the reversal of all or some portion of this allowance . for additional information regarding income taxes , please refer to note 10—income taxes in the notes to consolidated financial statements set forth in part iv , item 15 of this form 10-k. 38 capital and operational outlook apache 's strategic approach and multi-year outlook emphasizes retaining cash flow in excess of the company 's dividend payments , reducing outstanding debt , prioritizing long-term returns over growth , aggressively managing its cost structure , and advancing exploration and appraisal activities in suriname . apache 's differentiated asset portfolio and continued capital allocation discipline will drive these efforts . apache currently plans to invest $ 1.6 billion to $ 1.9 billion in its upstream oil and gas activities in 2020 , assuming wti pricing of approximately $ 50 per barrel . in terms of capital allocation , alpine high will receive minimal to no funding , and some capital will be shifted from permian oil projects to our egypt region . based on current plan projections , for 2020 , the company expects to : maintain its current dividend ; retain cash flow to initiate progress on debt reduction goals ; allocate approximately $ 200 million to exploration ; and achieve flat-to-low single-digit corporate oil production growth , year-over-year . to the extent wti pricing continues to fall , capital investment will be reduced , as will near-term production outlooks . however , if oil prices move materially higher , the company will prioritize further debt reduction over increasing capital activity . apache also continues cost management efforts , centralizing the organization and emphasizing incentives directly related to specific asset performance rather than a region focus . the company expects to achieve at least $ 150 million of annual savings from overhead and operating cost reductions associated with this initiative . separate from the company 's upstream oil and gas activities , altus will primarily direct

