APA Investment Case Robust FCF generation capacity and strong visibility into years of sustained production within legacy portfolio Returning a minimum of 60% of free cash flow to shareholders through share repurchases and ordinary…
APA Overview US Egypt North Sea Suriname
United States Currently running 3 rigs onshore U.S. U.S. Acreage o 2 rigs operating in the Permian Basin with continuous frac crew NEW OKLAHOMA dedicated to Southern Midland Basin completions MEXICO o Drilling predominantly longer…
Egypt: PSC Modernization Enables Return to Growth Apache Egypt Acreage: 5 million acres Countrys largest oil producer and onshore acreage holder; identified an extensive, high-quality inventory 2.5 MM-acre high-density 3-D seismic…
Egypt: Positive Near-Term Impacts of PSC Modernization 2022 plan to double average drilling rig count & increase well completions by 3x compared with 2021 Gross oil production forecasted to increase 13 15% in 2022 APA / Sinopec…
North Sea Apache North Sea Acreage Production now trending up following two quarters of Apache substantial maintenance and compressor downtime Beryl Storr-2 development well commenced production in late Dec. 2021 (APA 59%);…
Suriname Block 58 (APA 50% WI): 4 exploration discoveries since Jan. 2020, appraisal program underway Sapakara South-1 appraisal flow test indicates Sapakara connected resource of 325-375 MM barrels of oil South-1 in place in a…
Appendix
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…
Debt Maturity Profile Current(1) Apache Notes & Debentures(2) 6,344MM Reduced notes & debentures(2) by 1.7 BN in 2021 Avg. Coupon 5.075% 1,500 o Annual interest expense lowered by 20% (79 MM) Avg. Maturity 13.8 Years 1,333 542 MM…
Pro Forma Impact of Egypt PSC Modernization on 2021 & 2022 2022 72 2021 72 Brent Brent Previous Modernized APA / Sinopec JV Terms Terms Modernized Terms Gross Volume (Mboe/d) 232 - 234 250 - 255 Reported Volume(1) (Mboe/d) 114…
Egypt Oil Production Returning to a Growth Trajectory Oil Oil Production (Mbo/d) Production (Mbo/d) Anticipate significant increase in long- 200 term oil production from 15-rig program 150 Gross gas production expected to…
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