Framework for Long-Term Value Creation BALANCED PORTFOLIO APPROACH U.S. / International: Relatively Even Capital Split Onshore / Offshore: Short, Medium and Long-Cycle Exploration / Development: Conventional & Unconventional…
Apache Strategic Approach REDUCE DEBT PAY DIVIDEND Maintain 1 per share Target 935 MM over 4 years (3.5% current yield) LIVE WITHIN FREE CASH FLOW FUND SURINAME / SUSTAIN / GROW OIL Flat to low-single digits OTHER…
2020 Plan Commentary 2020 Plan Commentary Upstream capital budget of 1.6 - 1.9 billion Low-single digit YOY oil growth, Alpine High gas centered around 50 WTI average oil price and NGL decline Shift Permian activity to Egypt, North…
Organizational Re-Design Deliver more dynamic planning and capital allocation Improve collaboration and alignment EXPLORATION DEVELOPMENT OPERATIONS Simplify the organization CFO IT SUPPORT Legal Energy Tech Commercial HR…
Doing More with Less in the U.S. U.S. Production / Rig Count 400 120 350 100 300 291 280 270 - 285 261 77 251 80 250 224 2020 Commentary 206 Permian rig count reduced 200 60 No activity at Alpine High Sustain or grow Permian oil…
Permian Basin Apache is a Top-Tier Permian Player Key Focus Areas Over 2.9MM gross acres (1.8MM net acres) at year- end 2019 Central Basin Platform Focused on: Oil production in Midland / Delaware Waterflood activities in Central…
Egypt: Laying Foundation for Oil-Focused Initiatives Apache Egypt Acreage: 5.1 million acres Countrys largest oil producer and acreage holder Relatively insulated at lower oil prices due to PSC mechanics Years of inventory…
North Sea: High Margins, High Returns, Free Cash Flow Focused on sustaining production and cash flow Apache North Sea Acreage generation capacity 100% drilling success rate in 2019 (10 of 10) Attractive exploration opportunities…
Block 58: Offshore Suriname Stabroek Area Exxon Discoveries Apache holds 1.4 MM acres in anchor Block Pacora Payara Uaru Suriname Liza Mako Offshore Yellowtail 50 / 50 Joint-Venture with Total S.A.(1) Hammerhead Snoek…
Apache Takeaways Diversified portfolio / Flex capital with commodity price environment Prioritize long-term returns over short-cycle growth Sustain the dividend, reduce debt Well positioned in Guyana / Suriname super basin with…
Appendix 14
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…
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. in December 2019…
Guyana Basin Stratigraphic 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…
Full Year 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…
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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