Skip to main content 4Q 2018 Financial and Operational Supplement – Apache Corp Investor Presentation | Shale Experts
Loading...
Pm

4Q 2018 Financial and Operational Supplement – Apache Corp

Apache Corp · Feb 27, 2019 · 37 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. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 1
    FOURTH-QUARTER 2018 FINANCIAL & OPERATIONAL SUPPLEMENT
  2. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 2
    4Q AND FULL-YEAR 2018 KEY METRICS 4Q 2018 FY 2018 Reported Production 482 Mboe/d 466 Mboe/d Adjusted Production(1) 421 Mboe/d 395 Mboe/d Cost Incurred, GTP, and other Capital 1.2 Billion 4.1 Billion Investment Upstream Capital…
  3. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 3
    Delivering Value: 2018 & 4Q Highlights 2019 Capital Budget & Outlook 4Q Results Appendix Non-GAAP Reconciliations 4
  4. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 4
    FRAMEWORK FOR LONG-TERM VALUE CREATION BALANCED PORTFOLIO APPROACH Capital Allocation Focused on Maintaining Free Cash Flow Generators and Developing Long-Term Growth Optionality SUSTAINABLE PRODUCTION GROWTH Growing Permian Oil…
  5. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 5
    2018 HIGHLIGHTS Strong Financial Performance & Execution RETURN TO INVESTORS SUSTAINABLE BALANCED PORTFOLIO PRODUCTION GROWTH Exceeded 2018 CROIC(1) target Delivered 13% adjusted Formed Altus Midstream of 18% production growth…
  6. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 6
    4Q 2018 HIGHLIGHTS Production Growth & Efficiencies Drive Outstanding Performance Permian Oil Production of 99 MBOE/D Adjusted production exceeded guidance 421 MBOE/D 15% from 4Q17 in line with guidance North Sea achieved…
  7. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 7
    Delivering Value: 2018 & 4Q Highlights 2019 Capital Budget & Outlook 4Q Results Appendix Non-GAAP Reconciliations 8
  8. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 8
    2019 CAPITAL BUDGET HIGHLIGHTS Disciplined Plan with Capital Flexibility to Drive Returns & Growth Raising total adjusted 75% of upstream budget allocated production guidance to within United States 425,000 to 440,000 BOE per day 6…
  9. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 9
    2019 CAPITAL BUDGET & ACTIVITY United States 3.4 Billion 29% 10% Average 12 Rigs Drill 85 wells at Alpine High focused primarily on rich 2.4 Billion gas development Drill 55 wells in Midland and 42 wells in other Delaware 70%…
  10. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 10
    PERMIAN OIL PRODUCTION & RIG COUNT Delivering Growth More Efficiently 140 70 120 60 105 98 94 99 100 50 42 85 78 80 40 60 30 40 20 11 20 8 9 6 10 3 0 0 4Q14 4Q'14 4Q15 4Q'15 4Q16 4Q'16 4Q17 4Q'17 4Q18 4Q'18 4Q19E…
  11. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 11
    2019 CASH FLOW PRIORITIES Return to Investors Increase Activity Cash flow Build Cash Generated Above Plan Pricing Minimum 50% to investors Cash flow at Plan Pricing (53/bbl) Cash Flow at 45/bbl Cash Flow…
  12. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 12
    Delivering Value: 2018 & 4Q Highlights 2019 Capital Budget & Outlook 4Q Results Appendix Non-GAAP Reconciliations 13
  13. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 13
    4Q 2018 GLOBAL PORTFOLIO Balanced Portfolio Aligns Returns Focus & Strategic Objectives GLOBAL UNITED STATES INTERNATIONAL 482,298 BOE/D 283,464 BOE/D Reported Production 198,834 BOE/D Reported Production Reported Production 98…
  14. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 14
    4Q PERMIAN SUMMARY 33% YoY Net Production Growth MIDLAND BASIN REGION STATS Averaged 5 rigs, 2 frac crews, and placed 26 wells on production 235,936 BOE/D Well performance and completions timing drove 4Q oil growth Reported…
  15. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 15
    WELL HIGHLIGHTS: MIDLAND BASIN Wildfire MIDLAND BASIN Midland Glasscock 3 2 Hartgrove 1 4 Upton Benedum Reagan LATERAL AVG 30-DAY AVG 30-DAY IP PAD FORMATION AREA COUNTY OIL (FT) IP/WELL BOEPD/1,000 FT 1 Torpedo…
  16. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 16
    WELL HIGHLIGHTS: ALPINE HIGH/DELAWARE BASIN ALPINE HIGH OTHER DELAWARE BASIN Reeves 3 Eddy 1 2 LATERAL AVG 30-DAY AVG 30-DAY IP BTU PAD / WELL FORMATION AREA COUNTY (FT) IP/WELL BOEPD/1,000 FT CONTENT Alpine High…
  17. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 17
    4Q EGYPT SUMMARY Laying Foundation for Potential Growth REGION HIGHLIGHTS REGION STATS 3-D seismic data acquisition over more than 1.25 million acres 135,513 BOE/D o Identified approximately 40 new leads thus far Reported…
  18. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 18
    4Q NORTH SEA SUMMARY Highest Quarterly Production in Two Years REGION HIGHLIGHTS REGION STATS Successes at Callater and Garten drive higher production 63,321 BOE/D during quarter Reported Production 4 Gross, 4 Net Cumulative…
  19. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 19
    4Q 2018 OPERATING CASH MARGINS Brent Oil Price Exposure Drives High International Margins Egypt North Sea Permian 60.00 57 / Boe 50.00 47 / Boe 40.00 42 Per Boe 30.00 37 30 / Boe Per Boe 20.00 19 15 / Boe Per Boe 10 / Boe…
  20. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 20
    NET DEBT RECONCILIATION 4Q 2018 ( in millions) 10,000 169 89 84 357 9,000 852 191 8,000 7,610 628 7,490 7,000 852 6,000 5,000 4,000 3,000 2,000 1,000 0 Net Debt Label E&PLabel Capex Dividends Label & GTP Capex…
  21. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 21
    2019 GUIDANCE (1) Includes exploration, development, gathering, transmission, and processing capital, capitalized overhead, and settled asset retirement obligations, and excludes capitalized interest, non- cash asset retirement…
  22. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 22
    1Q 2019 GUIDANCE (1) Includes exploration, development, gathering, transmission, and processing capital, capitalized overhead, and settled asset retirement obligations, and excludes capitalized interest, non- cash asset retirement…
  23. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 23
    Delivering Value: 2018 & 4Q Highlights 2019 Capital Budget & Outlook 4Q Results Appendix Non-GAAP Reconciliations 24
  24. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 24
    GLOSSARY OF REFERENCED TERMS Upstream Capital Investment: Includes exploration, development, gathering, transmission, and processing capital, capitalized overhead, and settled asset retirement obligations, and excludes capitalized…
  25. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 25
    OIL AND GAS CAPITAL INVESTMENT (in millions) 1Q18 (1) 2Q18 (1) 3Q18 (1) 4Q18 (1) Upstream Investment: Permian . 477 490 636 619 MidCon / Gulf Coast . 65 24 23 19 Gulf of Mexico 8 19 18 17 United States..... 550 533 677 655…
  26. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 26
    2019 PERMIAN BASIN PRICING OIL NATURAL GAS Firm Basis Hedges Transport 24% 26% Midland EP Perm / Waha Other Based GC/Cushing Index Basin Based 61% 51% 6% 15% Basis Hedges 17% Firm transport and other basin contracts…
  27. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 27
    OPEN COMMODITY DERIVATIVE POSITIONS As of February 26, 2019 Oil Basis Volume Strike Instrument Index Period (bbls/d) Sell Basis Swap Midland/WTI Jan 2019 - Sep 2019 27,000 -8.60 Basis Swap Midland/WTI Oct 2019 - Dec 2019 15,000…
  28. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 28
    EGYPT: PRODUCTION DETAIL 3Q 2018 4Q 2018 Liquids Gas Liquids Gas (Bbls/d) (Mcf/d) Boe/d (Bbls/d) (Mcf/d) Boe/d Gross Production 210,050 766,128 337,738 209,684 751,848 334,992 Reported Production 97,882 331,681 153,163 86,980 291,196…
  29. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 29
    ALTUS SUMMARY INCOME STATEMENT ( in thousands) 30
  30. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 30
    ALTUS SUMMARY BALANCE SHEET & CASH FLOW STATEMENT Balance Sheet Cash Flow Statement ( in thousands) ( in thousands) 31
  31. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 31
    Delivering Value: 2018 & 4Q Highlights 2019 Capital Budget & Outlook Production Outlook 4Q Results Appendix Non-GAAP Reconciliations 32
  32. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 32
    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…
  33. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 33
    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…
  34. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 34
    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…
  35. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 35
    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…
  36. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 36
    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…
  37. 4Q 2018 Financial and Operational Supplement – Apache Corp – slide 37
    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…

From the store

Browse maps, data & reports in the Shale Experts store