4Q and Full-Year 2019 Key Metrics 4Q 2019 FY 2019 Reported Production 487 Mboe/d 474 Mboe/d Adjusted Production(1) 430 Mboe/d 413 Mboe/d Cost Incurred in Oil and Gas Property 548 Million 2,529 Million Upstream Capital…
Highlights Delivered a 23% YOY reduction in upstream capital 4Q19 Adjusted production of investment in 2019; below budget of 2.4 billion 430 MBOE/D Exceeded guidance range of 418 425 MBOE/D 2020 upstream capital investment of 4Q19…
Apache 2020 Priorities PAY DIVIDEND REDUCE DEBT GENERATE FREE CASH FLOW SUSTAIN OIL APPRAISE AND PRODUCTION EXPLORE SURINAME 5
2020 Plan Commentary 2020 Plan Commentary Upstream capital budget of 1.6 - 1.9 billion Base plan contemplates 5-6 rigs in Permian, centered around 50 WTI average oil price 9-11 in Egypt, 2-3 in North Sea, 1 in Suriname Generate…
ESG Investing in Our People, Community and Environment Recent ESG Initiatives Linked 2020 ESG performance directly to short-term incentive compensation Initiated alignment of disclosures with Sustainability Accounting Standards Board…
4Q Results 8
4Q 2019 Global Portfolio GLOBAL 487,202 BOE/D 49% / 34% / 17% 74 Gross, 70 Net 21 Reported Production Oil / Gas / NGL Drilled & Completed Wells(1) Avg Rigs UNITED STATES INTERNATIONAL 298,567 BOE/D 188,635 BOE/D Reported…
4Q Permian Summary Midland Basin REGION STATS 288,043 BOE/D Averaged 4 rigs, 1 frac crew and placed 19 wells on production Reported Production 16-well pad (Lynch-Tippett) at Wildfire delivers strong oil production on 1.5 mile…
4Q Egypt Summary REGION HIGHLIGHTS REGION STATS 125,875 BOE/D Continued exploration success in 4Q Reported Production Kadesh Aqsa 1X IP 7,000 Boe/d, 29% condensate in Matruh concession Barakat Deep 2X confirms significant gas find,…
4Q North Sea Summary REGION HIGHLIGHTS REGION STATS 62,760 BOE/D Gas condensate well at Storr online in November 2019 Reported Production Cumulative production of more than 380,000 BO and 4.6 BCF (online more than 100 days) 80% / 17%…
4Q 2019 Operating Cash Margins Brent Oil Price Exposure and Product Mix Drive Strong International Margins Egypt North Sea Permian 60 57 / Boe 50 46 / Boe 40 41 Per Boe 30 35 27 / Boe Per Boe 20 16 / Boe 18 11 / Boe Per…
Block 58 Offshore Suriname: Significant Oil Discovery at Maka Central - 1 Ranger Block 58 comprises 1.4 MM acres with 50+ prospects mapped Stabroek Area Exxon Discoveries Announced a 50/50 JV with Total S.A. on Block 58 in December…
Guidance 15
United States Production 2020 Production Guidance Update (Mboe/d) 280 270 - 285 261 251 224 206 2015 2016 2017 2018 2019 2019 2020E 2020 Note: Lower end of 2020 estimated range assumes full lean gas volume curtailments…
International Production 2020 Adjusted Production Guidance Update (Mboe/d) 167 166 144 134 133 133 - 137 2015 2016 2017 2018 2019 2019 2020E 2020 Note: Includes North Sea production and Egypt adjusted production. This…
2020 Guidance (1) Refer to glossary of referenced terms for definition of Upstream Capital Investment. 19
1Q 2020 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…
Appendix 21
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…
Organizational Re-Design Deliver more dynamic planning and improved capital allocation Improve collaboration and alignment EXPLORATION DEVELOPMENT OPERATIONS Simplify the organization CFO IT SUPPORT Legal Energy Tech…
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…
Egypt: Production Detail 3Q 2019 4Q 2019 Liquids Gas Liquids Gas (Bbls/d) (Mcf/d) Boe/d (Bbls/d) (Mcf/d) Boe/d Gross Production 189,118 673,065 301,296 187,166 677,819 300,136 Reported Production 85,005 275,569 130,934 79,907…
Non GAAP Reconciliations 27
Non GAAP Reconciliation Adjusted Earnings (Quarter to Date) 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…
Non GAAP Reconciliation Adjusted Earnings (Year to Date) 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…
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…
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 Upstream Capital Investment Reconciliation of Costs Incurred to Upstream Capital Investment Management believes the presentation of upstream capital investments is useful for investors to assess Apache's…
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