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…
2018 HIGHLIGHTS Strong Financial Performance & Execution RETURN TO INVESTORS SUSTAINABLE BALANCED PORTFOLIO PRODUCTION GROWTH Exceeded 2018 CROIC(1) target of 18% Delivered 13% adjusted production Formed Altus Midstream Company…
2019 CAPITAL BUDGET & ACTIVITY United States 3.4 Billion 1Q-19 Guide of 625MM 10% Average 12 Rigs 29% Drill 85 wells at Alpine High focused primarily on rich gas 2.4 Billion development Drill 55 wells in Midland and 42 wells in…
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 31 18…
MIDLAND AND DELAWARE BASIN Driving Performance for Permian Basin Growth Southern Midland Basin production efficiency increased Key Focus Areas 12% on a per lateral foot basis from 2016 to 2018 New completion designs in Midland led to…
ALPINE HIGH Rich Gas Development Underway Formulation and Areal and Optimization and Focused Near-Term confirmation vertical transition to full Development and Setting Up of concept delineation field development the Long-Term 2014…
EGYPT Laying Foundation for Potential Growth Apache Egypt Acreage: 6.2 million acres 3-D seismic data acquisition over more than 1.25 million acres Identified approximately 40 new leads thus far Drilling commenced using new data…
NORTH SEA High Margins, High Returns, Free Cash Flow Apache North Sea Acreage Sustaining North Sea production Water flood management at Forties successfully mitigating decline Successes at Callater & Garten drive higher…
SURINAME: HIGH-IMPACT OIL EXPLORATION Block 58 is a 1.4 MM acre block on Ranger trend with a proven oil system Stabroek Area Exxon Discoveries Suriname 100% Apache owned Offshore Pacora 3-D seismic surveys & processing Payara…
BRENT STRIP Christmas Contango Brent Forward Curve (/bbl)/ January 2019 to January 2024 Source: Apache EF, Bloomberg 15
THE REST OF THE CS: BUTANES, C5+ Blending Components are Fighting RBOB Relative Price Gains Indexed to January 2016 / January 2016 to January 2019 2016 to 2019 Ethane +124% Y-Grade Composite is up 73% since the January 2016 2016…
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…
2019 CASH FLOW PRIORITIES Return to Investors Cash flow Increase Activity Build Cash Generated Above Plan Pricing Minimum 50% to investors Cash flow at Plan Pricing (53/bbl) Cash Flow at 45/bbl Cash Flow Maintenance…
NORTH SEA Garten Update Garten-1 Well Announced discovery in March 2018 (APA 100% WI) Garten-1 Brought online in December, now producing from 3 commingled zones Cumulative production of nearly 1 million barrels of oil & 1 Bcf of…
2019 CAPITAL BUDGET PRICE ASSUMPTIONS 2019E WTI 53.00 Benchmarks Brent 61.00 NYMEX Henry Hub 2.80 NBP Gas 7.00 NGLs 50% of WTI before T&F fees WTI Midland (2.50) Diffs Waha (1.30) Permian (1.30) 21
SIGNIFICANT INDUSTRY ACTIVITY INCREASE FOLLOWING ALPINE HIGH ANNOUNCEMENT September 2016 December 2018 WARD CULBERSON REEVES PECOS JEFF DAVIS Drilled/ DrillingCount: Drilled/ Drilling Count: 267267 Current…
ALPINE HIGH: DISTINCT SOURCE ROCK AND PARASEQUENCE INTERVALS 3rd BONE SPRINGS Parasequences High frequency, rapidly rising and falling sea level environment WOLFCAMP UNCONFORMITY PENNSYLVANIAN Tranquil marine Source…
ALPINE HIGH: GEOLOGY OF THE SOUTHERN DELAWARE BASIN IMMATURE South West Alpine High North East Evaporites 5,000 OIL Bone Springs / Wolfcamp 10,000 Penn / Barnett / Woodford Bone Springs / Wolfcamp WET GAS 15,000…
ALPINE HIGH: BLACKFOOT PATTERN & SPACING TEST (NOT TO SCALE) Drilled & Completing WELLBORES COLORED BY BATCH PAD 26
ALTUS MIDSTREAM: OVERVIEW Pure Play Permian Basin Company With Diversified G&P and Pipeline Assets Publicly traded C-Corp with 325MM shares outstanding (79% owned by Apache) 2.7 Billion market cap / 625MM in cash and zero debt, as…
ALTUS MIDSTREAM: PERMIAN PIPELINE ASSETS Pipelines Expected in Service by YE 2020 Altus owns or has the option to participate in five joint venture pipeline projects Nat Gas 16%(1) of KMIs GCX (Exercised) 27% of KMIs Permian…
A LEADER IN ESG ENGAGEMENT AND SUSTAINABILITY REPORTING DISCLOSING THE FACTS 1 tCO2e/Mboe = metric tons of carbon dioxide equivalent per thousands of barrels of oil equivalent 4 Workforce TRIR (Total Recordable Incident Rate)…
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…
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