APACHE INVESTMENT ATTRIBUTES Top-tier Permian Basin position with extensive growth and development Balanced and focused opportunities portfolio Strong free cash flow generating assets in Egypt and North Sea Disciplined financial…
PERMIAN UPDATE Permian production bottomed in 2Q17, significant growth ramp has commenced Midland/Delaware Oil Production Outlook Mboe/d Delivering on unconventional oil production 4Q17 Midland+Delaware oil production 51 tracking…
ALPINE HIGH: A DIFFERENTIATED RESOURCE PLAY 336,000 Net Contiguous Acres 5,000+ thick hydrocarbon column Thick, contiguous, repeatable source rock in Barnett, Woodford and Pennsylvanian Only known area of Delaware Basin where source…
ALPINE HIGH SPANS THREE HYDROCARBON PHASES Overview Typical Well Economics(1) Predominantly in the Woodford and Barnett 3,500+ well locations Gas BTU content up to 1,500 EUR 9-15 Bcfe Wet Gas Recoverable oil volumes estimated at…
REPLACING CANADA WITH ALPINE HIGH Canada Alpine High(1) Exited Canada for net cash proceeds of 706 mm, plus Production 50 Mboe/d 50 Mboe/d elimination of 800 mm ARO in 2Q17 expected by May 2018 Reduces annual overhead and ARO…
INTERNATIONAL CASH FLOW FUNDS PERMIAN BASIN GROWTH Generated 512 mm of cash flow from Operating Cash Margins: 2Q17 operations (pre-WC) less oil and gas capital through first two quarters of 2017(1) Egypt North Sea 60.00 Brent-indexed…
2018 CAPITAL BUDGET CONSIDERATIONS Apaches philosophy is generally to be cash flow neutral on an all-inclusive basis The 2018 budget provided in February contemplated 55 oil and a 500 mm outspend, all of which was attributable to…
APACHE RECAP Prudently navigated the downturn and reduced leverage Streamlined the portfolio and successfully transitioned from Acquire and Exploit strategy to Low Cost Organic Growth strategy Discovered Alpine High, quickly ramped…
APPENDIX 11
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…
OIL AND GAS CAPITAL INVESTMENT (In millions) 13
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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