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Executive Oil Conference – Apache Corp

Apache Corp · Nov 10, 2015 · 22 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. Executive Oil Conference – Apache Corp – slide 1
    11.10.15 RIGHT PEOPLE. RIGHT ACREAGE. RIGHT STRATEGY
  2. Executive Oil Conference – Apache Corp – slide 2
    KEY MESSAGES Aligned activity and spending for new price environment Strong balance sheet and liquidity Realigned the organization and streamlined the portfolio Returns and net present value focus Upside and growth potential…
  3. Executive Oil Conference – Apache Corp – slide 3
    REPOSITIONED FOR THE FUTURE Significant leadership, portfolio and capability changes over the last 21 months. Strategic Organizational Changes 2014 North American Update Unconventional resources CEO succession & new Organizational…
  4. Executive Oil Conference – Apache Corp – slide 4
    YTD 2015 ACCOMPLISHMENTS Strategic initiatives Exited LNG and Australia upstream business Strengthened the balance sheet by 4.9 billion dollars(1) Attacked the cost structure at every level Implementing a multi-year, multi-scenario…
  5. Executive Oil Conference – Apache Corp – slide 5
    APACHE IS DELIVERING 2015 third-quarter highlights Significantly exceeded our production plan Delivered correspondingly strong adjusted earnings and cash flow Raised our 2015 proforma production guidance: North America: 307,000 to…
  6. Executive Oil Conference – Apache Corp – slide 6
    MIRRORING ACTIVITY LEVEL TO CURRENT PRICE ENVIRONMENT Aligned activity with 50 WTI price environment Rig Count Price per Bbl WTI Oil Price Apache International Rigs 120 120 Apache North American Rigs 100 100 70% Capital…
  7. Executive Oil Conference – Apache Corp – slide 7
    CONTINUING TO ATTACK THE COST STRUCTURE Average Well Cost Gross G&A Lease Operating North America (1) Cash Cost(2) Expense Per BOE(3) 0% -10% -20% 18% -30% North American Capital 30% General and Lease Operating Expense 26%…
  8. Executive Oil Conference – Apache Corp – slide 8
    STREAMLINED PORTFOLIO Well balanced portfolio with diversified opportunity set Extensive resource base in North America, anchored by Permian Free cash flow generating assets with years of exploration and development in the Egypt and…
  9. Executive Oil Conference – Apache Corp – slide 9
    NORTH AMERICA OVERVIEW Large acreage positon across multiple oil- prone plays: Permian, Eagle Ford, Woodford and Duvernay/Montney All key plays have economic drilling opportunities at 50 oil Relatively low base decline rate…
  10. Executive Oil Conference – Apache Corp – slide 10
    PERMIAN: THE PREMIER U.S. OIL BASIN Industrys 3rd largest acreage position (3.2 MM gross) 3Q production of 170 Mboe/d, third largest in the Permian Relatively low decline rate of 22% reduces capital needed to replace…
  11. Executive Oil Conference – Apache Corp – slide 11
    PERMIAN: OVER 250% LIQUIDS GROWTH IN 6 YEARS 175 Liquids Mix 159 2009 70% 150 2010 71% 2011 69% 127 36 2012 72% 125 2013 75% 2014 77% 108 2015 77% 32 30 MBOEPD 100 92 30 23 75 66 29 18 52 19 12 50 92 16 8 1 72 25…
  12. Executive Oil Conference – Apache Corp – slide 12
    DELAWARE BASIN: HIGH RETURNS SUB 50 WTI Reduced average well cost by 40% from 8 million projected on Nov. 2014…
  13. Executive Oil Conference – Apache Corp – slide 13
    MIDLAND BASIN: MULTIPLE STACKED PAYS Focused on core acreage - increasing average IP rates Reduced well cost 32% from 7.9 million projected in Nov. 2014 Approximately 90% of our wells are drilled using 3-D seismic Expanding…
  14. Executive Oil Conference – Apache Corp – slide 14
    CENTRAL BASIN PLATFORM / NW SHELF Legacy asset continues to deliver Asset Characteristics Advantage 76,400 Boe/d net average production YTD 2015 Provides flexibility Diverse set of capital projects in low, volatile price…
  15. Executive Oil Conference – Apache Corp – slide 15
    CENTRAL BASIN PLATFORM / NW SHELF Diverse set of capital projects CBP/NW Shelf Vertical and Secondary and Tansil Yates Horizontal Drilling Tertiary Oil Recovery Seven Rivers Guadalupe Queen Grayburg 17 producing formations…
  16. Executive Oil Conference – Apache Corp – slide 16
    CENTRAL BASIN PLATFORM / NW SHELF Low production base decline rates 180 60% Annual Decline Rates 46% Permian Production 150 50% 120 14% (Boe/d) 40% of total Permian production 90 30% base decline 20% 60 CBP / 10% NW…
  17. Executive Oil Conference – Apache Corp – slide 17
    PERMIAN: COMPLETION COSTS REDUCTIONS Completion Costs Trend Barnhart Example Significant Cost Reductions -44% Decrease from 1Q Averages Hydraulic Horsepower Proppant Wireline Water Transfer Completion Costs per Well…
  18. Executive Oil Conference – Apache Corp – slide 18
    PERMIAN: INCREASING OUR SEISMIC COVERAGE Permian region has access to over 12,500 sq. miles of 3D 2015 Seismic Program by Basin (3D) seismic data NW Shelf 300 Sq. Miles Central Basin Platform 1,600 Sq. Miles Extensive…
  19. Executive Oil Conference – Apache Corp – slide 19
    SUMMARY Aligned activity and spending to lower for longer oil prices Greatly enhanced balance sheet Realigned the organization and streamlined portfolio Relentless focus on returns and net present value Aggressively reducing all…
  20. Executive Oil Conference – Apache Corp – slide 20
    DELAWARE BASIN Acres 230,000 net Lea Planned 2H15 Rigs 4 rigs Eddy Inventory 1,400 Hz locations WAHA Focusing primarily on Bone Loving Winkler Spring and Wolfcamp Reeves Ward Positive results from new Pecos Bend interval…
  21. Executive Oil Conference – Apache Corp – slide 21
    MIDLAND BASIN FOCUS AREA Acres 200,000 net Azalea Planned 2H15 Rigs 3 rigs Glasscock Wildfire Inventory 2,900 locations Midland Powell- Multiple landing zones Miller Realizing 32% well cost Upton Reagan reduction from 2014…
  22. Executive Oil Conference – Apache Corp – slide 22
    CENTRAL BASIN PLATFORM / NORTHWEST SHELF Cedar Lake Acres 865,000 net Planned 2H15 Rigs 2-3 rigs Inventory 1,000 Hz locations 4,500 Vt locations 76,400 Boe/d YTD 2015 net Seth Campbell production Low base decline rate (14%)…

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