1Q 2022 Key Metrics 1Q 2022 Reported Production 404 Mboe/d Adjusted Production(1) 322 Mboe/d Cost Incurred in Oil and Gas Property 439 Million Upstream Capital Investment(2) 361 Million Net Cash Provided by Operating…
Recent Highlights Generated 675 Million Returned 304 Million to Shareholders Through of Free Cash Flow(1) in 1Q22 Dividends & Share Repurchases in 1Q22 Returned 101% (1.2 Billion) of Free Cash Flow 1Q22 Upstream Capital…
APA Corporation Strategy Foundation For Disciplined Leveraging Long-Term Financial Approach Diversified Success Portfolio Prioritize long-term, full-cycle returns Return a minimum of 60% of Free Diversify risk through a…
ESG Vision Be at the forefront of industrys efforts to measure, disclose AIR and mitigate emissions E WATER Preserve freshwater resources and leverage technology to maximize water reuse S COMMUNITIES +PEOPLE Provide…
Compensation-linked ESG Goals Short-term Goals Long-term Goal Egypt: 40% reduction of upstream flaring in Established long-term incentive Egypt by year-end compensation-linked emissions People: Develop and implement a future of…
1Q Asset Update 8
1Q 2022 Global Portfolio GLOBAL 404,042 BOE/D 47% / 16% / 37% 26 Gross, 26 Net 16 Reported Production Oil / NGL / Gas Drilled & Completed Wells(1) Avg Rigs UNITED STATES INTERNATIONAL 210,953 BOE/D 193,089 BOE/D Reported…
1Q 2022 Operating Cash Margins Egypt North Sea United States(2) 120 114 / Boe 100 80 86 Per Boe 60 66 / Boe + 32 vs. 4Q 56 52 / Boe 38 40 Per Boe 28 / Boe Per Boe + 14 vs. 4Q + 4 20 Leverage to Brent / NBP pricing & 14…
U.S. Update ASSET HIGHLIGHTS 1Q 2022 ASSET STATS Southern Midland Basin: Averaged 2 rigs & placed 4 gross wells on 210,953 BOE/D Reported Production production in 1Q22 33% / 29% / 38% o Anticipate placing 6 wells on production in…
Egypt Update ASSET HIGHLIGHTS 1Q 2022 ASSET STATS 149,938 BOE/D Adjusted production uplift of 13% following PSC modernization Reported Production Gross production flat with 4Q21 57% / 0% / 43% Oil / NGL / Gas o Deferred a number…
North Sea Update ASSET HIGHLIGHTS 1Q 2022 ASSET STATS 43,151 BOE/D Reported Production Benefited from a 84 million uplift in revenue as a result of exposure to 82% / 3% / 15% NBP pricing in 1Q22 versus 2018-2020 historical…
Suriname Update Block 58 (APA 50% WI) o Five exploration discoveries since Jan. 2020 Recent discovery at Krabdagu-1 exploration well o Flow testing complete; in pressure build-up stage of Sapakara South-1 both tested zones Maersk…
Guidance 2Q 2022 FY 2022 Commentary Production (Mboe/d) United States. 206 210 FY unchanged FY reduced for higher oil price PSC effects, slightly lower gross oil Egypt (Reported) 154 154 outlook from timing delays North Sea. 38 44 FY…
APA Debt Maturity Profile As of March 31, 2022 Significant Balance Sheet De-Leveraging Actions YE 2021 March 2022 213 million (April 22 notes) called at par in January Notes & Debentures(1) 6,344MM 5,032MM Completed 1.1 billion…
New APA Credit Facilities US1.8 Billion 1.5 Billion Established a US1.8 billion committed credit facility for general Revolving Credit Letter of Credit corporate purposes maturing in April 2027 Facility Facility o Unsecured facility…
Open Commodity Derivative Positions (As of May 3, 2022) Weighted Avg Price Production Period Trade Type Index Units Daily Volume / Unit Natural Gas Basis Hedges May 2022 December 2022 Basis Swap IF Waha / IF HSC MMBtu 206,367…
Upstream Capital Investment ( in Millions) 1Q22 United States....................... 175 Egypt (Apache's interest only) 98 North Sea.. 36 Suriname.................................. 52 Upstream Capital Investment Total 361…
Egypt: Production Detail 4Q 2021 1Q 2022 Liquids Gas Liquids Gas (Bbls/d) (Mcf/d) Boe/d (Bbls/d) (Mcf/d) Boe/d Gross Production 134,801 600,919 234,954 135,132 597,812 234,767 Reported Production 68,753 277,142 114,943 85,509…
Glossary of Referenced Terms Upstream Capital Investment: Includes exploration, development, gathering, processing, and transmission capital, capitalized overhead, and settled asset retirement obligations. 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…
Non GAAP Reconciliation Cash Flow Before Changes in Operating Assets & Liabilities and Free Cash Flow Reconciliation of Net Cash Provided by Operating Activities to Cash Flows from Operations before Changes in Operating Assets and…
Non GAAP Reconciliation Segment 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 operations before…
Non GAAP Reconciliation Net Debt Reconciliation of Debt to Net Debt Net debt, or outstanding debt obligations less cash and cash equivalents, is a non-GAAP financial measure. Management uses net debt as a measure of the Company's…
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 APA's…
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