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2Q 2017 Operational Supplement – Apache Corp

Apache Corp · Aug 3, 2017 · 29 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. 2Q 2017 Operational Supplement – Apache Corp – slide 1
    FINANCIAL AND OPERATIONAL SUPPLEMENT
  2. 2Q 2017 Operational Supplement – Apache Corp – slide 2
    TABLE OF CONTENTS Second-Quarter 2017 Financial and Operational Results.. 4 Second-Quarter 2017 Regional Summary... 12 2017 Guidance Update........... 18 Non-GAAP Reconciliations... 25 3
  3. 2Q 2017 Operational Supplement – Apache Corp – slide 3
    2Q17 FINANCIAL AND OPERATIONAL RESULTS 4
  4. 2Q 2017 Operational Supplement – Apache Corp – slide 4
    SECOND-QUARTER 2017 KEY METRICS Reported Production 460 Mboe/d Adjusted Production(1) 388 Mboe/d Oil and Gas Capital Investment(2) 738 Million Adjusted EBITDAX(2) 850 Million Earnings Per Share 1.50 Adjusted Earnings Per…
  5. 2Q 2017 Operational Supplement – Apache Corp – slide 5
    PRODUCTION AND REVENUES BY PRODUCT 2Q 2017 Reported Production Oil and Gas Revenue 460 MBOE/D 1.35 Billion 53% 78% Oil Production Oil Revenue Oil Natural Gas NGLs Note: Reported volumes include noncontrolling interest and…
  6. 2Q 2017 Operational Supplement – Apache Corp – slide 6
    ADJUSTED PRODUCTION RECONCILIATION 2Q 2017 Mboe/d 500 460 450 400 28 388 350 44 300 250 200 150 100 50 - 2Q 2017 Egypt Tax Barrels (1) Noncontrolling Interest 2Q 2017 Reported Production Adjusted Production North…
  7. 2Q 2017 Operational Supplement – Apache Corp – slide 7
    OPERATING CASH MARGINS 2Q 2017 Egypt North Sea Permian Other NA 60.00 50.00 49 / Boe 40.00 35 / Boe 28 30.00 Per Boe 29 / Boe 20.00 29 20 / Boe 17 22 / Boe Per Boe Per Boe 11 12 / Boe 11 / Boe Per Boe 10.00 7 /…
  8. 2Q 2017 Operational Supplement – Apache Corp – slide 8
    NET DEBT RECONCILIATION 2Q 2017 ( in millions) 9,000 8,000 95 86 18 693 6,956 7,000 603 6,812 285 148 6,000 5,000 4,000 3,000 2,000 1,000 0 (2) Net Debt E&P and GTP Capex Dividends Other Leasehold & Cash Flow…
  9. 2Q 2017 Operational Supplement – Apache Corp – slide 9
    CASH FLOW BY REGION For the Quarter Ended June 30, 2017 (1) North Sea Egypt Canada U.S. and Other Consolidated ( in millions) Net cash provided by operating activities 207 346 22 176 751 Changes in operating assets and…
  10. 2Q 2017 Operational Supplement – Apache Corp – slide 10
    OIL AND GAS CAPITAL INVESTMENT (In millions) 11
  11. 2Q 2017 Operational Supplement – Apache Corp – slide 11
    SECOND-QUARTER 2017 REGIONAL SUMMARY 12
  12. 2Q 2017 Operational Supplement – Apache Corp – slide 12
    SECOND-QUARTER 2017 GLOBAL OPERATIONS GLOBAL KEY STATS NORTH AMERICA STATS INTERNATIONAL STATS Reported Production: 460,293 Boe/d Reported Production: 244,013 Boe/d Reported Production: 216,280 Boe/d Drilled & Completed Wells*: 66…
  13. 2Q 2017 Operational Supplement – Apache Corp – slide 13
    CANADA EXIT Strategic Rationale & Financial Benefits Exit from Canada to occur in three separate transactions Transaction First transaction closed June 30th, other two projected to close mid/late August Considerations Aggregate…
  14. 2Q 2017 Operational Supplement – Apache Corp – slide 14
    2Q 2017 PERMIAN REGION SUMMARY Midland Basin PERMIAN KEY STATS SECOND-QUARTER 2017 Reported Production: 145,533 Boe/d Averaged six rigs and two frac crews in the quarter Drilled & Completed Wells*: 36 gross, 35 net Operations…
  15. 2Q 2017 Operational Supplement – Apache Corp – slide 15
    2Q 2017 INTERNATIONAL SUMMARY EGYPT KEY STATS NORTH SEA KEY STATS SECOND-QUARTER 2017 SECOND-QUARTER 2017 Reported Production: 161,724 Boe/d Reported Production: 54,556 Boe/d Drilled & Completed Wells*: 25 gross, 25 net Drilled &…
  16. 2Q 2017 Operational Supplement – Apache Corp – slide 16
    EGYPT: PRODUCTION DETAIL 1Q 2017 2Q 2017 Liquids Gas Liquids Gas (Bbls/d) (Mcf/d) Boe/d (Bbls/d) (Mcf/d) Boe/d Gross Production 195,289 797,108 328,141 196,838 825,947 334,496 Net Production 102,673 407,194 170,539 97,841 383,296…
  17. 2Q 2017 Operational Supplement – Apache Corp – slide 17
    2017 GUIDANCE UPDATE 18
  18. 2Q 2017 Operational Supplement – Apache Corp – slide 18
    NORTH AMERICA PRODUCTION OUTLOOK Adjusted for Canada Exit (Mboe/d) 329 Canadian Volumes Excluded By Quarter 52 Mboe/d 50 Mboe/d 23-24 Mboe/d(1) 289 237 214 199 225 194 208 1Q17A 2Q17A 3Q17E 4Q17E 4Q18E Note: Adjusted…
  19. 2Q 2017 Operational Supplement – Apache Corp – slide 19
    INTERNATIONAL PRODUCTION OUTLOOK Quarterly Guidance Unchanged (Mboe/d) 164 156 158 147 144 154 146 146 1Q17A 2Q17A 3Q17E 4Q17E 4Q18E 55/bbl Note: Adjusted production. Includes North Sea and Egypt production. 20
  20. 2Q 2017 Operational Supplement – Apache Corp – slide 20
    APACHE PRODUCTION OUTLOOK Adjusted for Canada Exit (Mboe/d) 487 435 401 370 379 345 337 354 1Q17A 2Q17A 3Q17E 4Q17E 4Q18E 55/bbl Note: Adjusted production. 21
  21. 2Q 2017 Operational Supplement – Apache Corp – slide 21
    APACHE 2017 GUIDANCE Production & Capital Previous Updated 2017 2017 Daily Production (MBOE/D) Guidance Range Guidance Range North America (ex-Canada)............................................................... 206 - 211 206 - 211…
  22. 2Q 2017 Operational Supplement – Apache Corp – slide 22
    APACHE 2017 GUIDANCE Other Income Statement Items Previous Updated 2017 2017 Other Income Statement Items Guidance Range Guidance Range Operating Costs Lease Operating Expenses ( per BOE)......................................... 8.25…
  23. 2Q 2017 Operational Supplement – Apache Corp – slide 23
    OPEN COMMODITY DERIVATIVE POSITIONS As of August 1st, 2017 Oil Hedges Volume Instrument Index Period (bbls/d) Strike Put Option WTI July - December 2017 92,000 50.00 Put Option Platts Dated Brent July - December 2017 83,000 51.00…
  24. 2Q 2017 Operational Supplement – Apache Corp – slide 24
    NON-GAAP RECONCILIATIONS 25
  25. 2Q 2017 Operational Supplement – Apache Corp – slide 25
    NON-GAAP RECONCILIATION Adjusted Earnings Reconciliation of income attributable to common stock to adjusted earnings Our presentation of adjusted earnings and adjusted earnings per share are non-GAAP measures because they exclude the…
  26. 2Q 2017 Operational Supplement – Apache Corp – slide 26
    NON-GAAP RECONCILIATION Adjusted EBITDAX Reconciliation of net cash provided by operating activities to adjusted EBITDAX Management believes EBITDAX, or earnings before income tax expense, interest expense, depreciation, amortization and…
  27. 2Q 2017 Operational Supplement – Apache Corp – slide 27
    NON-GAAP RECONCILIATION Cash Flow From Operations Before Changes in Operating Assets and Liabilities Reconciliation of net cash provided by operating activities to cash flows from continuing operations before changes in operating…
  28. 2Q 2017 Operational Supplement – Apache Corp – slide 28
    NON-GAAP RECONCILIATION Net Debt Reconciliation of debt to net debt Net debt, or outstanding debt obligations less cash and cash equivalents, is a non-GAAP financial measure. Management uses net debt as a measure of the Company's…
  29. 2Q 2017 Operational Supplement – Apache Corp – slide 29
    NON-GAAP RECONCILIATION Oil and Gas Capital Investment Reconciliation of costs incurred and GTP capital investments to Oil and Gas Capital Investment Management believes the presentation of oil and gas capital investments is useful for…

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