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…
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…
Success Continues in Block 58 Offshore Suriname Announced major discovery at Kwaskwasi-1 at end of July o 149 meters of net pay in Campanian Maka 86 meters of net volatile oil / condensate pay Discovery Jan 2020 63 meters of net…
Kwaskwasi 1: Santonian Drilling Fluid Isotope Analysis API Gravity and Gas Oil Ratio Predictions Approx. Depth GOR avg API avg Zone (m) (scf/bbl) (deg) 1 5790-5925 1187 34 2 5985-6010 1070 34 3 6110-6220 1099 34 4 6362-6492 967…
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, Cash Flow Generator Apache North Sea Acreage Focused on sustaining cash flow generation capacity Beryl Realizing cost savings in all categories Attractive exploration opportunities in Beryl area: o…
United States Key Focus Areas Over 2.9MM gross acres (1.8MM net acres) at year-end 2019 Central Basin Platform Focused on LOE reductions, minimal capital activity Permian curtailments of 4,500 BOE/D remain offline Southern…
Appendix 11
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…
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…
2020 Liability Management Update Updated Debt Maturity Profile (MM)(1) 1,600 2Q 2020 open market repurchases reduced aggregate LT debt by 147 MM at a 36% discount to par 1,200 Took advantage of strong market conditions in August to…
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…
Apache / Total Suriname Joint Venture Summary Terms and Production Sharing Contract Mechanics Suriname Govt Profit Oil Split by 20% R-Factor Joint Apache 40% Total 40% Venture Staatsolie 20% Gross Apache 40% Contractors…
Summary of Terms Suriname PSC Apache / Total JV Cost oil recovery ceiling of 80% after royalty payment Parties have the right to alternate proposals of exploration wells up to 8 wells per year Unrecovered cost oil balances carried…
Commodity Hedging Program Open Commodity Derivative Positions As of July 28, 2020 Note: B Bought; S - Sold 18
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…
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 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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