Third-Quarter 2023 Financial & Operational Supplement November 1, 2023
3Q 2023 Key Metrics 3Q 2023 Reported Production 412 Mboe/d Adjusted Production(1) 340 Mboe/d Cost Incurred in Oil and Gas Property 572 Million Upstream Capital Investment(2) 474 Million Net Cash Provided by Operating…
APA Corporate Strategy is Basis for Strong Partnership Foundation For Disciplined Financial Leveraging Long-term Success Approach Diversified Portfolio Prioritize long-term, full-cycle Return a minimum of 60% of Diversify risk…
3Q Asset Update APA CORPORATION 5
Recent Highlights Permian Execution and Well Performance Returned 65% (440 Million) of Free Drive 3Q23 Oil Volumes Above Guidance Cash Flow to Shareholders in the First Three Quarters of 2023 Adjusted Production(1)(2) of 340…
3Q 2023 Global Portfolio Global 412,252 BOE/D 50% / 17% / 33% 48 Gross, 44 Net 23.5 Reported Production Oil / NGL / Gas Drilled & Completed Wells Avg Rigs United States International 225,639 BOE/D 186,613 BOE/D Reported…
U.S. Update Asset Highlights 3Q 2023 Asset Stats Strong performance continues to drive oil production volumes ahead of 225,639 BOE/D guidance Reported Production 37% / 29% / 34% Oil / NGL / Gas Southern Midland Basin: Averaged 3…
Egypt Update Asset Highlights 3Q 2023 Asset Stats 138,575 BOE/D Drilling program delivering; on-plan for average drilling days, well Reported Production connection timing, and average oil IPs 64% / 0% / 36% Oil / NGL / Gas Rig…
Suriname Update Block 58 (TotalEnergies Operated) Announced Oil Hub Project at Sapakara and Krabdagu Completed successful appraisal drilling program at Krabdagu Plan to proceed with FEED study for a 200 MBO/D FPSO Underpinned by an…
North Sea Update Asset Highlights 3Q 2023 Asset Stats 48,038 BOE/D Achieved high-end of guidance, driven by strong initial production from the Reported Production Storr North well 74% / 3% / 23% Oil / NGL / Gas 0 Gross, 0 Net…
Guidance 4Q 2023 Commentary Production (MBOE/D) United States. 224 (37.5% oil) Excludes impact of potential gas curtailments Egypt (Reported). 138 (66% oil) North Sea.. 44 (78% oil) Sequential decline due to compressor repairs at Beryl…
Upstream Capital Investment 1Q 2023 2Q 2023 3Q 2023 Total ( in millions) United States 291 308 300 899 Egypt (excluding noncontrolling interest) 123 133 149 405 North Sea 54 56 15 125 Suriname 27 19 10 56 Upstream Capital…
Egypt Production Detail 2Q 2023 3Q 2023 Oil Gas Oil Gas (Bbls/d) (Mcf/d) Boe/d (Bbls/d) (Mcf/d) Boe/d Gross Production 140,652 517,291 226,867 144,528 472,744 223,319 Reported Production 87,790 337,413 144,026 88,521 300,326 138,575 %…
Suriname PSC and APA / Total Energies 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 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 eight wells per year Unrecovered cost oil balances…
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 20
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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