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Bank of America 2014 Global Energy Conference – Apache Corp

Apache Corp · Nov 13, 2014 · 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. Bank of America 2014 Global Energy Conference – Apache Corp – slide 1
    BANK OF AMERICA 2014 GLOBAL ENERGY CONFERENCE NOVEMBER 13, 2014
  2. Bank of America 2014 Global Energy Conference – Apache Corp – slide 2
    OVERVIEW Apache is transforming into a leading North American E&P company characterized by an extensive resource base, strong production growth and a continued focus on rate of return We are delivering profitable growth,…
  3. Bank of America 2014 Global Energy Conference – Apache Corp – slide 3
    THIRD-QUARTER HIGHLIGHTS North American onshore liquids production exceeded 211,000 barrels of oil equivalent per day (Boe/d), up 15 percent* from the prior year Record Permian production of 162,000 Boe/d, up 23 percent from the…
  4. Bank of America 2014 Global Energy Conference – Apache Corp – slide 4
    TRANSFORMATION TO NORTH AMERICA Decisive steps taken in 2013-2014 Monetized GOM Shelf Exited Argentina Entered Egypt JV with Sinopec through sale of 1/3 interest Divested deepwater GOM development projects High-graded Canada…
  5. Bank of America 2014 Global Energy Conference – Apache Corp – slide 5
    TRANSFORMATION TO NORTH AMERICA North American Onshore International / GOM(1) MBOE/D MBOE/D 355 353 350 350 300 300 40% 44% 250 250 207 200 184 200 37% 150 66% 150 60% 56% 100 100 63% 50 50 34% 0 0 2009 3Q 2014 2009…
  6. Bank of America 2014 Global Energy Conference – Apache Corp – slide 6
    TRANSFORMATION TO NORTH AMERICA 2009 Production(1) 3Q 2014 Production(2) 8% 8% 34% N.A. 12% 9% 63% N.A. 7% Onshore Onshore 11% 16% 10% 14% 3% Gulf of 2% Gulf of Mexico 20% Mexico 14% 13% 29% 5% 19% 537 MBOE/D…
  7. Bank of America 2014 Global Energy Conference – Apache Corp – slide 7
    PERMIAN: LEADING ACREAGE POSITION 3.3 MM GROSS / 1.7 MM NET ACRES New Mexico CBP + N/NW Shelf Texas 850,000 Net Acres Midland Basin 635,000 Net Acres Delaware Basin 215,000 Net Acres Midland APA acreage APA…
  8. Bank of America 2014 Global Energy Conference – Apache Corp – slide 8
    PERMIAN: TRACK RECORD OF GROWTH MBOE/D 180 Production of 162 MBOE/D in 3Q 2014, up 23% year-over-year 160 162 Added more than 95 MBOE/D 140 since 2010 127 120 Strong growth driven by the 108 Wolfcamp and Bone Springs 100 92…
  9. Bank of America 2014 Global Energy Conference – Apache Corp – slide 9
    PERMIAN: 2ND LARGEST PRODUCTION BASE MBOE/D 250 224 200 162 150 113 103 98 100 68 50 33 0 A APA B C D E F 10 Note: 3Q 2014 production. Peer companies include: Cimarex, Concho, Devon, Laredo, Occidental and Pioneer.
  10. Bank of America 2014 Global Energy Conference – Apache Corp – slide 10
    APACHE: PERMIAN SCALE AND GROWTH Company 3Q 14 MBOE/D 3Q 14 YOY Growth A 224 6% Apache 162 23% B 113 20% C 103 30% D 98 19% E 68 16% F 33 36% 11 Note: Peer companies include: Cimarex, Concho, Devon, Laredo, Occidental and…
  11. Bank of America 2014 Global Energy Conference – Apache Corp – slide 11
    CENTRAL: TARGETING RATE OF RETURN IMPROVEMENT AND CANYON LIME GROWTH MBOE/D 3Q 14 production 91 MBOE/D 100 91 91 90 Reduced rig count 40% since mid year to address 1H 14 80 operational issues 70 61 Shifting capital to new oil…
  12. Bank of America 2014 Global Energy Conference – Apache Corp – slide 12
    CENTRAL: CANYON LIME 100,000+ CONTIGUOUS NET ACRES Oil resource play (80% liquids) with two potential landing zones Over 300 sq miles of 3D seismic Repeatable opportunity with Bivins East 41-1H* more than 400 locations in First Canyon…
  13. Bank of America 2014 Global Energy Conference – Apache Corp – slide 13
    EAST TX EAGLE FORD: HIGH IMPACT OIL GROWTH 511,000 GROSS / 203,000 NET ACRES Repeatable resource play Ferguson Crossing Robertson McCullough- Wineman 2H Brazos Riverside 30-day IP: 1,455 BOE/D Over 300 sq miles of new 3D Brazos…
  14. Bank of America 2014 Global Energy Conference – Apache Corp – slide 14
    EAST TX EAGLE FORD: BUFFALO RANCH/REVEILLE FOCUSED PAD DEVELOPMENT 6,100 net acres (40 additional well locations) Focused on driving down costs Optimizing completions and testing 500 foot down spacing Brought on 6 wells…
  15. Bank of America 2014 Global Energy Conference – Apache Corp – slide 15
    CANADA: FOCUS ON LIQUIDS-RICH DUVERNAY AND MONTNEY CURRENT ACREAGE1: 64 MBOE/D in 3Q 2014 1 Kaybob 3.8 million gross acres (Duvernay & Bluesky) BC 2.8 million net acres AB Currently running 12 rigs SK (2 in Duvernay, 1 in…
  16. Bank of America 2014 Global Energy Conference – Apache Corp – slide 16
    INTERNATIONAL OVERVIEW High quality international portfolio Leading position in each region 1 oil producer in Egypt 1 gas supplier in Western Australia (7/MCF market) Most efficient operator in the U.K. North Sea Differentiated…
  17. Bank of America 2014 Global Energy Conference – Apache Corp – slide 17
    TODAYS KEY MESSAGES Apache is transforming into a leading North American E&P company characterized by an extensive resource base, strong production growth and a continued focus on rate of return We are delivering profitable…
  18. Bank of America 2014 Global Energy Conference – Apache Corp – slide 18
    APPENDIX 19
  19. Bank of America 2014 Global Energy Conference – Apache Corp – slide 19
    EXITING THE WHEATSTONE AND KITIMAT LNG PROJECTS WHEATSTONE LNG (Australia) KITIMAT LNG (Canada) 8.9 MMTPA LNG; APA = 13% 10 MMTPA LNG; APA = 50% First production 4Q 2016 100 TCF recoverable gas in Liard, Horn River Basins 85%…
  20. Bank of America 2014 Global Energy Conference – Apache Corp – slide 20
    EGYPT: 1 OIL PRODUCER CURRENT LEASEHOLD: 346 MBOE/D gross production in 3Q 6.8 MM gross acres 2014 Shushan-Khalda Matruh 24 Concessions Ridge Alamein Averaged 27 rigs and drilled 63 gross wells in 3Q 2014 Gindi / Beni Suef…
  21. Bank of America 2014 Global Energy Conference – Apache Corp – slide 21
    AUSTRALIA: NEAR-TERM OIL GROWTH WITH EXPLORATION POTENTIAL CURRENT LEASEHOLD: Phoenix South 56 MBOE/D production in 3Q 2014 18 million gross acres 9 million net acres Averaged 2 drilling rigs and drilled 5 gross wells Balnaves…
  22. Bank of America 2014 Global Energy Conference – Apache Corp – slide 22
    NORTH SEA: MOST EFFICIENT OIL OPERATOR CURRENT LEASEHOLD: Nevis & Ness 65 MBOE/D production in 3Q 2014, 1.3 MM gross acres 0.6 MM net acres Brent-linked oil portfolio (85%) Nevis South North Sea Maclure BERYL Commissioned the…

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