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Q4 2015 Results – Apache Corp

Apache Corp · Feb 25, 2016 · 26 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. Q4 2015 Results – Apache Corp – slide 1
    02.25.2016 FOURTH-QUARTER 2015 EARNINGS SUPPLEMENT
  2. Q4 2015 Results – Apache Corp – slide 2
    TABLE OF CONTENTS 2015 Highlights. 3 Fourth-Quarter Financial Summary 7 Fourth-Quarter and 2015 Operations Summary.. 14 2016 Production and Capital Guidance.. 24 3
  3. Q4 2015 Results – Apache Corp – slide 3
    2015 HIGHLIGHTS 4
  4. Q4 2015 Results – Apache Corp – slide 4
    2015 HIGHLIGHTS Exceeded the top end of 2015 pro forma production guidance International and Offshore 176 Mboe/d; guided 172 to 174 Mboe/d North America Onshore 309 Mboe/d; guided 307 to 309 Mboe/d Reduced average North America…
  5. Q4 2015 Results – Apache Corp – slide 5
    2015 ASSET SALES: EXCEEDED 6 BILLION Proceeds Assets Divested (MM) Wheatstone LNG Project 2,800 Australia E&P Assets 1,900 Kitimat LNG 854 Yara Pilbara Fertilizer Plant 391 Other noncore assets 268 6,213 6
  6. Q4 2015 Results – Apache Corp – slide 6
    FY 2015 BALANCE SHEET IMPROVEMENTS (in billions) 12 3.2 billion reduction in net debt 10 Eliminated 900 million of 2017/2018 maturities 8 30% Only 700 million of debt maturing 6 through 2020 4 3.5 billion of liquidity from…
  7. Q4 2015 Results – Apache Corp – slide 7
    FOURTH-QUARTER FINANCIAL SUMMARY 8
  8. Q4 2015 Results – Apache Corp – slide 8
    FOURTH-QUARTER FINANCIAL SUMMARY Pro Forma Production(1) 489 BOE/D 0% YoY Adjusted EBITDA(1) 781 million 59% YoY Cash From Operations(1) 749 million 64% YoY (Before Changes in Current Assets and Liabilities) sd sd Adjusted…
  9. Q4 2015 Results – Apache Corp – slide 9
    QUARTERLY COST DECREASES 4Q14 TO 4Q15 Average Well Cost Gross Overhead - Lease Operating North America Cash Cost Expense Per Boe(1) 10% 0% -10% -20% -30% -40% North American Capital General and Lease Operating Expense…
  10. Q4 2015 Results – Apache Corp – slide 10
    4Q 2015 DEBT RECONCILIATION 10,000 9,000 8 484 94 616 854 113 749 8,000 7,310 7,122 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 Net Debt 9/30/15 E&P and GTP Capex Leasehold & U.S. Tax Payment Dividends…
  11. Q4 2015 Results – Apache Corp – slide 11
    OIL AND GAS CAPITAL INVESTMENT 4Q15 (1) YTD 2015 (1) E&P and GTP Investment: Permian ........................................................................................ 347 1,433 MidCon / Gulf Coast…
  12. Q4 2015 Results – Apache Corp – slide 12
    FY 2015 REGIONAL CASH MARGINS North Sea Egypt Permian Other NA 50.00 49 / Boe 45.00 40.00 37 / Boe 35.00 33 30.00 Per Boe 31 / Boe 25.00 26 20.00 Per Boe 20 22 / Boe 15.00 16 / Boe Per Boe 10 11 / Boe 11 / Boe 12 / Boe Per…
  13. Q4 2015 Results – Apache Corp – slide 13
    INTERNATIONAL CASH FLOW SENSITIVITY Egypt and North Sea fiscal regimes provide down-cycle protection while U.S. preserves upside potential Base Oil Price: 50 - 5 - 10 - 15 - 20 0% Percent Change in Regional Cash Flows (Cum)…
  14. Q4 2015 Results – Apache Corp – slide 14
    FOURTH-QUARTER AND 2015 OPERATIONS SUMMARY 15
  15. Q4 2015 Results – Apache Corp – slide 15
    PRO FORMA PRODUCTION RECONCILIATION 4Q 2015 Mboe/d 600 47 51 493 489 500 400 300 200 100 0 (1) 4Q 2015 Tax Barrels Noncontrolling interest 4Q 2015 Pro Forma Production Reported Production North American…
  16. Q4 2015 Results – Apache Corp – slide 16
    PRODUCTION AND REVENUES BY PRODUCT 4Q 2015 Reported Production Oil and Gas Revenue 493 MBOE/D 1.2 Billion 51% Oil Production 74% Oil Revenue Oil Natural Gas NGLs Note: Reported volumes are consistent with production…
  17. Q4 2015 Results – Apache Corp – slide 17
    FOURTH-QUARTER 2015 GLOBAL OPERATIONS GLOBAL KEY STATS N.A. ONSHORE KEY STATS INTERNATIONAL & GOM KEY STATS Reported Production: 493,071 Boe/d Reported Production: 307,875 Boe/d Reported Production: 185,196 Boe/d Completed Wells*:…
  18. Q4 2015 Results – Apache Corp – slide 18
    PERMIAN: 4Q 2015 REGION SUMMARY Midland Basin PERMIAN KEY STATS FOURTH-QUARTER 2015 Averaged three rigs and completed 30 operated wells Reported Production: 173,691 Boe/d Completed Wells: 57 gross, 52 net Completions focused in the…
  19. Q4 2015 Results – Apache Corp – slide 19
    FOURTH-QUARTER NORTH AMERICAN ONSHORE WELL HIGHLIGHTS Peak 30-Day IP / Play / Area Well Name County Lateral Peak 30-Day IP 1,000 Lateral Ft MIDLAND WOLFCAMP Wildfire June Tippet 17 1HM Midland 5,054 1,372 Boe/d 271 Wildfire June Tippet…
  20. Q4 2015 Results – Apache Corp – slide 20
    NORTH SEA: 4Q 2015 SUMMARY Forties Field NORTH SEA KEY STATS Completed four successful wells during quarter, including the T254 which FOURTH-QUARTER 2015 Reported Production: 71,598 Boe/d produced an initial production rate of 1,643…
  21. Q4 2015 Results – Apache Corp – slide 21
    NORTH SEA: 2015 DRILLING RECAP 2015 Program Success 2015 Forties Development Rate On Production Wells Connected Peak 30-Day Avg IP 1Q 0 NA 2Q 5 1,623 Boe/d 80% 3Q 4 2,389 Boe/d 4Q 2 1,081 Boe/d 2015 Program Success 2015 Beryl…
  22. Q4 2015 Results – Apache Corp – slide 22
    EGYPT: 4Q 2015 SUMMARY Development EGYPT KEY STATS FOURTH-QUARTER 2015 Ptah and Berenice fields current oil production approximately 30,000 gross bo/d Reported Production: 105,782 Boe/d Completed Wells: 23 gross, 20 net 12 wells…
  23. Q4 2015 Results – Apache Corp – slide 23
    APACHE OFFSHORE SURINAME MAP 24
  24. Q4 2015 Results – Apache Corp – slide 24
    2016 PRODUCTION AND CAPITAL GUIDANCE 25
  25. Q4 2015 Results – Apache Corp – slide 25
    2016 PRODUCTION GUIDANCE Based on flat 35/bbl WTI and Brent prices North American Onshore International and Offshore 400 43% 400 Oil 41% 42% Oil 350 Oil 350 309 300 263 273 300 69% 67% Oil Oil 250 -15% to -12% 250…
  26. Q4 2015 Results – Apache Corp – slide 26
    APACHE 2016 CAPITAL PROGRAM Regional Allocation Strategic Allocation Other 7% Canada & Other L48 11% Permian 29% Base Maintenance, Development Drilling, 30% 35% North Sea 30% Strategic & Exploration, Egypt 30% 23%…

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