2Q 2020 Key Metrics 2Q 2020 Reported Production 435 Mboe/d Adjusted Production(1) 394 Mboe/d Cost Incurred in Oil and Gas Property 269 Million Upstream Capital Investment(2) 216 Million Net Cash Provided by Operating…
Apaches Strategy Foundation For Leveraging Disciplined Long-Term Diversified Financial Success Portfolio Approach Prioritizing returns over production International assets generating more Aggressively managing cost structure…
Debt Reduction & Suriname Are Clear Priorities WTI Oil Price INCREMENTAL CASH FLOW TO < 30 30 - 40 40+ RETURN TO INVESTORS Primarily focus on debt reduction until Debt/EBITDAX is reduced to at least 1.5x, then focus will shift to…
Opportunistic Debt Repurchases During Second Quarter 2Q 2020 Open Market Repurchases ( in Millions) Amount Repurchase Remaining Yield to Reduced Aggregate LT Debt by 147 MM Maturity Repurchased Price(1) Term (Yrs) Maturity (%) at a…
Success Continues in Block 58 Offshore Suriname Announced major discovery at Kwaskwasi-1 o 149 meters of net pay in Campanian o 129 meters of net pay in Santonian Maka Discovery Jan 2020 Kwaskwasi Discovery July 2020 Following…
3Q20 Guidance New 3Q 2020 Quarterly Guidance Guidance Production (Mboe/d) United States 235 245 International (Adjusted) 135 Total Adjusted Production. 370 380 Upstream Capital Investment ( in millions)(1).... 190 Upstream…
ESG Highlights New for 2020 Linked 2020 ESG performance directly to annual incentive compensation 60% year-over-year decrease in U.S. flared volumes YTD Apache is a strong community partner in our areas of operation, focused on…
2Q Results 10
2Q 2020 Global Portfolio GLOBAL 435,448 BOE/D 51% / 17% / 32% 45 Gross, 45 Net 12 Reported Production Oil / NGL / Gas Drilled & Completed Wells(1) Avg Rigs UNITED STATES INTERNATIONAL 250,589 BOE/D 184,859 BOE/D Reported…
2Q 2020 Operating Cash Margins Egypt North Sea United States(2) 50 45 International realizations averaged an 40 unprecedented 5.50 per barrel discount to Brent due to market volatility 35 30 25 22 / Boe 26 / Boe 10 20 Per Boe…
2Q Egypt Summary REGION HIGHLIGHTS REGION STATS 127,342 BOE/D Adjusted production positively impacted by PSC effects from lower prices Reported Production 63% / 1% / 36% Oil / NGL / Gas Drilling success continues in 2Q 22 Gross,…
2Q North Sea Summary REGION HIGHLIGHTS REGION STATS Actively managed production in response to price volatility 57,517 BOE/D o Curtailments of 10,000 BOE/D (81% Oil) Reported Production o Reinstated as realizations improved later in…
2Q U.S. Summary REGION HIGHLIGHTS REGION STATS Placed 20 wells on production in April and eliminated all drilling 250,589 BOE/D activity by mid-May Reported Production o At quarter end, 15 DUCs at Alpine High and 47 DUCs in other…
Appendix 16
Commodity Hedging Program Open Commodity Derivative Positions As of July 28, 2020 Note: B Bought; S - Sold 17
Credit Facility Profile 4 Billion Revolving Credit Facility Apaches 4 BN committed credit facility for general corporate purposes, matures March 2024 Facility Type Senior Unsecured o Unsecured facility held by 18 banks, 17 of which…
Upstream Capital Investment ( in Millions) 1Q20 2Q20 261 52 United States...... 99 79 Egypt (Apache's interest only)..... 51 52 North Sea. 31 33 Other....................... Upstream Capital Investment Total 442 216 For a…
Egypt: Production Detail 1Q 2020 2Q 2020 Liquids Gas Liquids Gas (Bbls/d) (Mcf/d) Boe/d (Bbls/d) (Mcf/d) Boe/d Gross Production 185,408 655,410 294,643 173,546 642,003 280,547 Reported Production 74,095 254,579 116,525 80,749…
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 22
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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