COVID-19 A PAC H E R ES PO NS E GLOBAL Prioritizing Health & Safety Of Employees And Communities In Which We Operate Acted quickly to close offices throughout organization Procured a pandemic / infectious disease response helicopter…
1Q 2020 Key Metrics 1Q 2020 Reported Production 468 Mboe/d Adjusted Production(1) 423 Mboe/d Cost Incurred in Oil and Gas Property 497 Million Upstream Capital Investment(2) 442 Million Net Cash Provided by Operating Activities…
Positioning To Withstand Volatility Disciplined Leveraging Strong Liquidity Financial Diversified Profile Approach Portfolio Managing towards Cash Flow International assets generating more Manageable bond maturities over next…
Decisive Actions Taken Managing To Cash Flow Neutrality & Preserving Liquidity Reduced 2020 upstream capital investment to approximately 1.1 BN(1,2) ( 55% from 2019) Decreased annual dividend payout by 340 MM ( 90%) Implemented…
Apaches Diversified Portfolio Managing Through Near-Term Volatility United States North Sea Egypt Eliminating all drilling & completion Reduced to essential personnel and Field operations unaffected thus far by activity (final rig…
Ample Liquidity Runway Apache Credit Facility 5,000 4,000 800 millions 3,000 937 2,000 4,000 1,000 2,263 - Committed April 2021 2023 Availability Facility(1) LC Postings(2) Bond Maturities(1) 3.2 BN of availability…
Success in Block 58 Offshore Suriname Announced significant oil discovery at Sapakara West-1 on April 2nd Campanian / Santonian at least 79 meters (259 feet) of net oil/gas condensate pay Maka Discovery Encountered a distinct fan…
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…
1Q Results 11
1Q 2020 Global Portfolio GLOBAL 467,771 BOE/D 49% / 18% / 33% 44 Gross, 43 Net 21 Reported Production Oil / NGL / Gas Drilled & Completed Wells(1) Avg Rigs UNITED STATES INTERNATIONAL 282,636 BOE/D 185,135 BOE/D Reported…
1Q Permian Summary REGION HIGHLIGHTS REGION STATS 273,091 BOE/D Averaged 4 rigs, 1 frac crew and placed 12 wells on production in the Reported Production Midland basin 36% / 29% / 35% Substantially completed drilling first 3 mile…
1Q Egypt Summary REGION HIGHLIGHTS REGION STATS 116,525 BOE/D PSC effects positively impacted adjusted production volumes (gross 2% vs. 4Q19) Reported Production 63% / 1% / 36% Program success rate: 94% (15 out of 16 wells) Oil /…
1Q North Sea Summary REGION HIGHLIGHTS REGION STATS 68,610 BOE/D Production increase driven by high-volume Garten-2 well Reported Production Peak 30-day rate on managed choke of 13,425 BOPD and 14,010 MMCFD 81% / 3% / 16% Oil / NGL…
1Q 2020 Operating Cash Margins International Assets Benefit From Premium Pricing & Product Mix Egypt North Sea United States 50 47 / Boe 45 40 38 / Boe 35 32 30 Per Boe 25 26 20 Per Boe 21 / Boe 15 / Boe 15 12 / Boe 12 10…
Appendix 17
Commodity Hedging Program Open Commodity Derivative Positions Substantial 2020 hedges centered around as of May 6, 2020 2Q/3Q to mitigate near-term risk of full crude oil storage Significant Midland/Cushing basis hedges for…
Credit Facility Profile Substantial Revolver Capacity and Long Runway 4 Billion Revolving Credit Facility Apaches 4 BN committed credit facility for general corporate Facility Type Senior Unsecured purposes, matures March 2024…
Bond Maturity Profile Manageable Near-Term Maturities MM 1,600 Debt Summary Amount Outstanding (MM)(1) 8,217 1,400 Weighted Average Maturity (Years) 17 1,200 Weighted Average Coupon (%) 4.877% 1,000 800 600 400…
Upstream Capital Investment ( in Millions) 1Q20 Permian... 239 MidCon / Gulf Coast... 5 Gulf of Mexico. 17 United States... 261 Egypt (Apache's interest only). 99 North Sea 51 Other .... 31 Upstream Capital Investment…
Egypt: Production Detail 4Q 2019 1Q 2020 Liquids Gas Liquids Gas (Bbls/d) (Mcf/d) Boe/d (Bbls/d) (Mcf/d) Boe/d Gross Production 187,166 677,819 300,136 185,408 655,410 294,643 Reported Production 79,907 275,811 125,875 74,095…
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…
Non GAAP Reconciliations 24
Non GAAP Reconciliation Adjusted Earnings 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 exclude the…
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 and…
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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