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MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp

Apache Corp · May 15, 2014 · 20 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 1
    2014 ANNUAL SHAREHOLDER MEETING MAY 15, 2014
  2. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 2
    STRATEGIC REPOSITIONING FOR NEXT GROWTH PHASE MBOE/D, Net N.A. Onshore Expansion 800 750 GOM International 700 North America Onshore 650 600 International Expansion 550 500 450 400 350 300 International Entry 250 200…
  3. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 3
    DECISIVE STEPS TAKEN IN 2013-14 Delivered portfolio repositioning GOM Shelf sale (retaining 50% of exploration portfolio) Egypt JV with Sinopec Argentina sale Canada transitioning Lucius and Heidelberg sale Accelerated North…
  4. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 4
    REPOSITIONING OBJECTIVES Focused portfolio: growth assets, free cash flow assets Powered by North America onshore Play to our core strength in operational execution Production growth: visible, predictable, repeatable Rate of…
  5. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 5
    REPOSITIONED PORTFOLIO North America Onshore GOM International 20091 2013 Pro Forma2 8% 8% 34% North 11% 60% North 7% America 14% America 11% 10% Onshore 17% Onshore 13% 3% 20% Gulf of 2% 14% 13% Mexico Gulf of 23%…
  6. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 6
    APACHE TODAY Proven leader in oil-levered North America growth: 1 growth generator in Permian + Anadarko basins Strongly positioned to drive the companys growth Major free cash flow assets: Egypt, North Sea, Australia: 1 positions…
  7. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 7
    1ST QUARTER 2014 RESULTS Adjusted Earnings: 1.78/share (707MM)1 Operating Cash Flow: 2.2 BN1 N.A. Onshore Liquids Growth: 21% increase YoY Production: 640 MBOE/D Pro Forma Production: 548 MBOE/D2 59% Liquids 62% N.A. Onshore 43%…
  8. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 8
    1 GROWTH GENERATOR IN THE PERMIAN BASIN MBOE/D, Net Average MBOE/D Added in 2013 20 19 18 Central Basin Midland Platform Basin 16 Delaware Basin 14 12 10 3.3MM acres (1.7MM net) 8 127 MBOE/D in 2013 6 22% liquids growth…
  9. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 9
    MULTI-PLAY ANADARKO BASIN GROWTH ENGINE 58 YEAR TRACK RECORD Horizontal Well Liquids Drive APAs Growth % Liquids 20% 34% 50% MBOE/D, Net 100 91 90 15 mi 80 APA acreage 70 61 1.8MM acres (1MM net) 60 91 MBOE/D in 2013 50 45…
  10. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 10
    CENTRAL TEXAS EAGLE FORD DELIVERING GROWTH 488,000 acres (182,000 net) 4 rigs running, ramp up to 8 by mid-year Drilled 10 wells to date Focused on driving down costs Recent 3D seismic over 300+ square miles, with additional in…
  11. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 11
    LIQUIDS RICH OPPORTUNITIES IN CANADA 4.1MM acres (3.2MM net) Avg. 1Q 2014 Rigs Kitimat 74.6 MBOE/D in 20131 Upstream APA Hz rigs (8) 30% liquids growth1 House Avg. 8 rigs in Q1 2014 Mountain 3,535 active wells (down from…
  12. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 12
    LEADER IN NORTH AMERICA LIQUIDS GROWTH 2013 % Growth 34% 34% 26% 21% 15% 5% APA A B C D E 13 Note: Peers include: Anadarko, Chesapeake, Devon, EOG, and Occidental.
  13. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 13
    INTERNATIONAL: SUSTAINABLE FREE CASH FLOW WITH UPSIDE Egypt, North Sea Australia BERYL North Sea Apache Acreage Oil Field Gas Field FORTIES Sustainable free cash flow generation Visible growth project pipeline 1 BN in…
  14. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 14
    WHEATSTONE LNG Pre-Tax Cash Flow at 100 Brent1 Illustrative Free Cash Flow Profile MM 20-Year Contracts 1,100 900 700 500 300 100 First production 4Q 2016 -100 -300 85% contracted (oil-based pricing) Pre-Tax Cash Flow -500…
  15. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 15
    KITIMAT LNG A Commercialize 50 TCF gross discoveries in Liard, Horn River Basins Most advanced LNG project in Canada 10 MMTPA LNG, APA currently 50% Apache operates upstream 2013: Chevron became operator of downstream 2014:…
  16. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 16
    2014 EXPECTATIONS 15-18% North America onshore liquids growth Driven by oil Double-digit global liquids growth 5-8% global BOE production growth Capex ex LNG = within cash flow 17 Note: All growth rates based on 2013 pro…
  17. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 17
    2014 CAPITAL PLAN North America Onshore GOM International E&P Capital = 8.5 Bn1 Australia North Sea 0.8 Bn 0.9 Bn 9% 11% Central 1.7 BN Egypt 0.9 Bn 20% 11% 64% North GOM America 6% 0.5 Bn Onshore 7% Canada 0.6 Bn…
  18. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 18
    RETURNING CAPITAL TO SHAREHOLDERS Dividend Increased 67% since January 1, 2012 Strategy: consistently grow our dividend at attractive rates Buyback 2.0 BN in 2013 and 2014 YTD Our shares remain a compelling value…
  19. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 19
    HIGH-GRADED PORTFOLIO: ENHANCED PREDICTABILITY 2017: Wheatstone LNG1 MBOE/D, Net At full ramp-up: 700 1 BN annual free cash flow 650 600 550 Enhanced predictability with 500 high-graded portfolio 450 Liquids growth driven by…
  20. MAY 2014 ANNUAL SHAREHOLDER MEETING – Apache Corp – slide 20
    APACHE TODAY Proven leader in oil-levered North America growth: 62% of company production in NA onshore (and rising) Major free cash flow assets: 1 BN/year FCF from Egypt, North Sea, Australia Incremental 1 BN/year free cash…

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