Second- Quarter 2023 Financial & Operational Supplement AUGUST 2, 2023
2Q 2023 Key Metrics 2Q 2023 Reported Production 399 Mboe/d Adjusted Production(1) 325 Mboe/d Cost Incurred in Oil and Gas Property 595 Million Upstream Capital Investment(2) 516 Million Net Cash Provided by Operating…
APA Corporation Strategy Foundation For Disciplined Financial Leveraging Long-Term Success Approach Diversified Portfolio Prioritize long-term, full-cycle Return a minimum of 60% of Diversify risk through a balanced returns…
2Q Asset Update APA CORPORATION 5
Recent Highlights Returned 131% (123 Million) 2Q23 Upstream Capital of Free Cash Flow to Investment(1) of 516 Million Shareholders in 2Q23 Reducing full-year Capital Repurchased 46 Million of Stock Investment to 1.9 Billion at…
2Q 2023 Global Portfolio Global 398,930 BOE/D 50% / 16% / 34% 54 Gross, 53 Net 24 Reported Production Oil / NGL / Gas Drilled & Completed Wells(1) Avg Rigs United States International 212,786 BOE/D 186,144 BOE/D Reported…
U.S. Update Asset Highlights 2Q 2023 Asset Stats 212,786 BOE/D Connected 21 new wells, over two-thirds of which were placed on-line Reported Production during June. Timing expected to drive significant production increase again in…
Egypt Update Asset Highlights 2Q 2023 Asset Stats 2Q23 gross oil production and well completions in-line with 144,026 BOE/D expectations Reported Production 61% / 0% / 39% Exploration drilling success rate of 50% year to date (14 of…
North Sea Update Asset Highlights 2Q 2023 Asset Stats 42,118 BOE/D Prolonged operational downtime impacted 2Q23 results by Reported Production approximately 2 Mboe/d 83% / 2% / 15% Oil / NGL / Gas Production commencement from…
Suriname Update Block 58 (APA 50% WI, TTE Operated) Ongoing oil resource assessment at Krabdagu Successfully tested three oil reservoirs, confirming high quality and deliverability Krabdagu-3 confirms and extends the oil resource 14…
Guidance 3Q 2023 FY 2023(1) FY 2023 Commentary Production (Mboe/d) United States. 223 (36% oil) 217 (36% oil) Excludes impact of future gas curtailments in event of Waha price weakness Egypt (Reported). 140 (64% oil) 143 (64% oil)…
Upstream Capital Investment 1Q23 2Q23 Total United States 291 308 599 Egypt (excluding noncontrolling interest) 123 133 256 North Sea 54 56 110 Suriname 27 19 46 Upstream Capital Investment Total 495 516 1,011 For a…
Egypt Production Detail 1Q 2023 2Q 2023 Oil Gas Oil Gas (Bbls/d) (Mcf/d) Boe/d (Bbls/d) (Mcf/d) Boe/d Gross Production 140,764 545,049 231,606 140,652 517,291 226,867 Reported Production 87,794 356,350 147,186 87,790 337,413 144,026 %…
Upstream Capital Investment: Includes exploration, development, gathering, processing, and transmission capital, capitalized overhead, and settled asset retirement obligations. Excludes capital investment for property acquisitions,…
Non-GAAP Reconciliations APA CORPORATION 18
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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