Altus Midstream Summary Overview Commentary Simplified Structure In November 2018, Kayne Anderson and Apache formed a Public Investors Apache Corporation publicly-traded midstream C-corp Altus Midstream Company (Altus or Altus…
Investment Merits Permian pure-play public midstream C-corp Unique Public Investment Exposure to full midstream value chain from Permian to the Gulf Coast Opportunity Strong sponsorship from premier independent E&P company in…
Gathering & Processing Overview Asset Map Current Asset Highlights Rich Gas Processing: 380 MMcf/d of capacity in service Lean Gas Treating / Compression: 400 MMcf/d of capacity in service Gas Gathering Pipelines: 111 miles in…
Joint Venture Pipelines Overview Pipeline Map Commentary Altus owns or has the option to participate in five joint venture pipeline projects 16%(1) of KMIs GCX (Exercised) Nat Gas 27% of KMIs Permian Highway (Option) 33% of…
Alpine High Overview 9
Alpine High: A World-Class Resource Play Unprecedented hydrocarbon column 5,000 feet Vertically stacked oil, rich gas, and lean gas fairways Scale 300,000 net acres at year-end 2018 5,000+ locations identified as of October 2017…
Stacked Pay From 13 Landing Zones Parasequences Parasequences 3rd BONE SPRING High frequency, rapidly rising and falling sea level 13 environment landing WOLFCAMP zones so far; UNCONFORMITY PENNSYLVANIAN 5,000 vertical…
Alpine High Rich Gas Development Underway Formulation and Areal and Optimization and Focused near-term confirmation vertical transition to full development and setting of concept delineation field development up the long-term…
Financial Overview 13
Financial Overview Altus Midstreams simple structure is a key point of differentiation No debt and undrawn revolver provide strong liquidity No incentive distribution rights 450 million of cash(1) and an undrawn 800 million(2)…
Financial Flexibility Altus has a five-year revolving credit facility Flexible terms Pro forma credit for JV pipelines before in-service Competitive Investment Grade pricing grid Two one-year extension options Evaluating other…
Financial Guidance Update Apache Upstream Update: In February 2019, Apache established its 2019 upstream capital budget of 2.4 billion, which represents a decrease of 22% relative to 2018 Capital reduction reflects goal of cash flow…
Financial Guidance ALTM Midstream Growth Capital Investments(1) ALTM Midstream Adjusted EBITDA(1) ( in millions) ( in millions) % Attributable to JV Pipelines % Attributable to JV Pipelines 75-85% 60-70% 0% 35-45% 55-65% 55-65%…
Altus Long-Term Growth Potential Expect 10+% Adjusted EBITDA growth in 2022 and beyond Depth of Alpine High inventory provides long runway for growth Significant free cash flow(1)(2) generation potential in 2021 and beyond Enables…
Appendix 19
Details on Joint Venture Pipelines Gulf Coast Permian Salt Creek EPIC Crude Shin Oak Express Highway NGL Line Product Natural Gas Crude Natural Gas NGL NGL Operator Kinder Morgan EPIC Kinder Morgan Enterprise Products ARM…
Altus Midstream Agreements with Apache The area of dedication encompasses a total of 540,000 gross acres (as denoted by the red outline) Includes existing Apache acreage and any future acreage acquired by Apache(1) Midstream…
Alpine High Takeaway Apache has contracted takeaway capacity (through a combination of volume commitments and acreage/plant dedications) from Altus Midstreams infrastructure Provides flow assurance to liquid markets at attractive…
Alpine High Well Highlights Reeves 1 2 Lateral Avg 30-Day Avg 30-Day IP BTU Pad / Well Formation Area County Length IP/Well Boepd/1,000 Ft Content (Ft) Northern 1 Mont Blanc (6 Wells) Woodford Reeves 4,824 3,137…
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