TABLE OF CONTENTS 2018 Guidance Update....... 4 Second-Quarter 2018 Financial and Operational Results....... 14 Second-Quarter 2018 Regional Summary...... 21 Open Commodity Derivative Positions..... 34 Glossary of Referenced…
2018 GUIDANCE UPDATE 4
APA ADJUSTED PRODUCTION OUTLOOK 2018 Production Guidance Update (Mboe/d) Annual Quarterly Updating 2018 guidance to 394 2Q18 exceeded guidance by 7 Mboe/d (+2%) Mboe/d Establishing 3Q18 guidance of 398 Mboe/d 398 394 390…
UNITED STATES PRODUCTION OUTLOOK 2018 Production Guidance Update (Mboe/d) Annual Quarterly Increasing 2018 guidance to 260 2Q18 exceeded guidance by 7 Mboe/d (+3%) Mboe/d Establishing 3Q18 guidance of 270 Mboe/d 270 260…
PERMIAN PRODUCTION OUTLOOK 2018 Production Guidance Update (Mboe/d) Annual Quarterly Increasing 2018 guidance to 210 Establishing 3Q18 guidance of 220 Mboe/d Mboe/d 220 210 202 183 FY18E 1Q18A 2Q18A 3Q18E 7
ALPINE HIGH PRODUCTION OUTLOOK 2018 Production Guidance Update (Mboe/d) Annual Quarterly Updating 2018 guidance to 45 Establishing 3Q18 guidance of 50 Mboe/d Mboe/d (midpoint of prior range) 50 45 32 26 FY18E 1Q18A…
INTERNATIONAL PRODUCTION OUTLOOK 2018 Production Guidance Update (Mboe/d) Annual Quarterly Updating 2018 guidance to 134 Establishing 3Q18 guidance of 128 Mboe/d Mboe/d Decrease primarily due to annual maintenance turnaround…
FY 2018 GUIDANCE Production & Capital * Includes exploration and production capital, gathering, transmission, and processing capital, capitalized general and administrative expenses, capitalized interest, and non-oil & gas capital.…
REVISED APACHE 2018 CAPITAL BUDGET 70% of total investment allocated to Permian Basin (3) 3.4 Billion Increased Capital Guidance Other U.S.(1) Completion efficiencies requires 2 7% additional rigs to optimize rig-frac crew ratio in…
FY 2018 GUIDANCE Other Income Statement Items (1) Apache adopted a new accounting regulation in 2018 that changed the way certain gathering, transmission and processing (GTP) costs related to natural gas and natural gas liquids are…
3Q 2018 GUIDANCE 13
2Q18 FINANCIAL AND OPERATIONAL RESULTS 14
SECOND-QUARTER 2018 KEY METRICS Reported Production 464 Mboe/d Adjusted Production(1) 390 Mboe/d Oil and Gas Capital Investment(2) 833 Million Adjusted EBITDAX(2) 1.3 Billion Earnings Per Share 0.51 Adjusted Earnings Per…
PRODUCTION AND REVENUES BY PRODUCT 2Q 2018 Reported Production Oil and Gas Revenue 464 MBOE/D 1.94 Billion 53% 81% Oil Production Oil Revenue Oil Natural Gas NGLs Note: Reported production includes noncontrolling interest…
ADJUSTED PRODUCTION RECONCILIATION 2Q 2018 Mboe/d 500 464 450 400 34 390 350 40 300 250 200 150 100 50 - (1) 2Q '18 Reported Egypt Tax Barrels Noncontrolling Interest 2Q '18 Adjusted Production Production US Volumes…
OPERATING CASH MARGINS 2Q 2018 Egypt North Sea Permian Other US 80.00 70.00 71 / Boe 60.00 50.00 53 / Boe 53 Per Boe 40.00 45 Per Boe 37 / Boe 30.00 25 31 / Boe 20.00 18 / Boe Per Boe 20 Per Boe 12 / Boe 11 / Boe 10.00 8 /…
NET DEBT RECONCILIATION 2Q 2018 ( in millions) 9,000 110 96 26 991 8,000 4 7,259 181 7,365 7,000 932 6,000 5,000 4,000 3,000 2,000 1,000 0 Net Debt E&P and GTP Other Dividends Leasehold & Asset Sales Changes in Cash…
OIL AND GAS CAPITAL INVESTMENT (in millions) 1Q18 (1) 2Q18 (1) E&P and GTP Investment: Permian . 477 490 MidCon / Gulf Coast . 65 24 Midstream ... 115 116 Gulf of Mexico 8 19 United States... 665 649 Egypt (Apache's…
SECOND-QUARTER 2018 REGIONAL SUMMARY 21
SECOND-QUARTER 2018 GLOBAL OPERATIONS GLOBAL KEY STATS Reported Production: 464,109 Boe/d Drilled & Completed Wells*: 105 gross, 95 net Rigs: Avg 33 rigs UNITED STATES STATS Reported Production: 255,495 Boe/d Drilled &…
2Q 2018 PERMIAN REGION SUMMARY Midland Basin PERMIAN KEY STATS SECOND-QUARTER 2018 Reported Production: 201,832 Boe/d Averaged 5 rigs and 2 frac crews in the quarter Drilled & Completed Wells*: 69 gross, 64 net Rigs: Avg 17 rigs…
UNITED STATES ONSHORE WELL HIGHLIGHTS Avg 30-Day Avg 30-Day IP Pad / Well Formation Area County Lateral % Oil IP/Well Boepd/1,000 Ft Midland Basin Lynch A Unit 30-37 (8 Wells) Wolfcamp Wildfire Upton 7,287 1,275 Boe/d 176 76%…
RECENT ALPINE HIGH WELL RESULTS As of July 30, 2018 Pad / Well Description Strategic Implications Results (gross) Recent production of 93 MMcf/d Half-section spacing test of and 200 Bopd Blackfoot 12-well pad 3 Woodford landing…
SIGNIFICANT PRODUCTION RAMP IN 2H AT ALPINE HIGH DRIVEN BY WELL TIMING 92 wells to be placed on production in 2018 More than 70% to be connected in June through December Alpine High 2018 Wells Placed on Production Avg Monthly Well…
ALPINE HIGH COST PROGRESS Unit Well Cost Basis Summary 10.0 2,200 9.0 2,000 6711 ft 8.0 1,800 6445 ft 7154 ft 8052 ft 4787 ft 7028 ft Average Well Cost MM 4696 ft 5044 ft 1,600 7.0 4500 ft 1,400 /ft 6.0 1,380/ft…
2018-2019 PERMIAN BASIN GAS POSITIONING Production Flow Risk Price Exposure 2018 2019 2018 2019 Uncommitted Firm Transport Firm Transport Production 9% 8% Other 11% Other Basin Firm Uncommitted Basin Firm 5% Transport Production…
2018-2019 PERMIAN BASIN OIL POSITIONING Production Flow Risk Price Exposure 2018 2019 2018 2019 Basis Hedges 4% Basis West West Hedges Texas Texas 16% Term Sour Sour GC/Cushing GC/Cushing Sales 30% Term Sales 30% Based Midland…
2Q 2018 INTERNATIONAL WELL HIGHLIGHTS 2Q 2018 Egypt Well Highlights Program Success Rate 30-Day Well Name Basin % Oil Average IP Ptah-27 Shushan 2,831 Boe/d 100% Ptah-30 Shushan 2,140 Boe/d 100% 83% Siwa 2 L-6 Faghur 2,130…
EGYPT: PRODUCTION DETAIL 1Q 2018 2Q 2018 Liquids Gas Liquids Gas (Bbls/d) (Mcf/d) Boe/d (Bbls/d) (Mcf/d) Boe/d Gross Production 203,684 758,275 330,063 208,015 801,727 341,636 Reported Production 96,207 343,901 153,524 97,312 340,991…
EGYPT: APACHES 6.2 MILLION GROSS ACRE FOOTPRINT NW Razzak East Bahariya SAES Apache legacy acreage Apache new concessions East Bahariya adds 650,000 gross acres highly prospective for oil 33
OPEN COMMODITY DERIVATIVE POSITIONS As of July 31, 2018 34
GLOSSARY OF REFERENCED TERMS Capital Budget: Includes exploration and production capital, gathering, transmission, and processing capital, capitalized general and administrative expenses, capitalized interest and non-oil & gas capital.…
NON-GAAP RECONCILIATIONS 36
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…
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…
NON-GAAP RECONCILIATION Regional Cash Flows Reconciliation of Net Cash Provided by Operating Activities to Cash Flows from Continuing Operations before Changes in Operating Assets and Liabilities Cash flows from continuing operations…
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 Operations before Changes in Operating Assets and…
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…
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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