2019 YTD Highlights Streamlined U.S. portfolio with Mid-Con exit Signaled lower capital spending with modest oil production growth in 2020 Redirecting capital from Alpine High to oil-weighted projects in Permian Announced…
Plan Commentary & Key Objectives 2020 Plan Key Objectives Budget 10 20% below 2019 upstream capital Deliver attractive risk-adjusted returns at investment of 2.4 billion moderate pace of growth Generate positive Free Cash Flow,…
Organizational Re-Design Current Environment APA Response APA decentralized model: Initiated in mid-summer Low commodity Very little investor Limits collaboration and a redesign of our prices and volatility interest in Energy…
The new model will enable us to Deliver more proactive planning and improved capital allocation Minimize duplication and redundancy Improve collaboration and alignment Enable value-adding technology adoption Targeting at Least…
3Q 2019 Global Portfolio GLOBAL 450,644 BOE/D 51% / 33% / 16% 64 Gross, 63 Net 20 Reported Production Oil / Gas / NGL Drilled & Completed Wells(1) Avg Rigs UNITED STATES INTERNATIONAL 265,910 BOE/D 184,734 BOE/D Reported…
Doing More with Less in the U.S. U.S. Production & Rig Count 400 120 350 100 300 283 292 286 - 290 259 264 266 251 80 250 222 74 206 200 Mid-Con sale & 60 Alpine High volume curtailments 150 40 100 21 18 16 15 12 20…
Permian Basin Apache is a Top-Tier Permian Player Over 2.9MM gross acres at year-end 2018 Key Focus Areas Averaged 5 rigs in Midland / Delaware, 5 in Alpine High Central Basin in 3Q19 Platform Focused on: Oil production in Midland…
Egypt: Laying Foundation for Oil-Focused Initiatives Apache Egypt Acreage: 6.2 million acres Countrys largest oil producer and acreage holder Maintained relatively constant gross production for more than 6 years Delivers stable…
North Sea: High Margins, High Returns, Free Cash Flow Apache North Sea Acreage Sustaining production and cash flow generation capacity 100% drilling success rate in 2019 (10 of 10) Excellent exploratory success in Beryl area:…
Offshore Suriname: High-Impact Oil Exploration Ranger Block 58 comprises 1.4 MM acres (100% APA) Stabroek Area in an active hydrocarbon system Exxon Discoveries Multiple plays, 50+ significant prospects Pacora mapped to date Liza…
Framework for Long-Term Value Creation BALANCED PORTFOLIO APPROACH Exploration / Development Conventional / Unconventional Oil / Liquids Rich Gas / Lean Gas OPERATIONAL FLEXIBILITY Actively Manage Capital Allocation to Reflect…
2019 Guidance (1) Refer to glossary of referenced terms for definition of Upstream Capital Investment. (2) Represents combination of 100% Altus Midstream Company operating expense and Apache upstream GPT costs. (3) Excludes dry…
Glossary of Referenced Terms Upstream Capital Investment: Includes exploration, development, gathering, processing, and transmission capital, capitalized overhead, and settled asset retirement obligations, and excludes capitalized…
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