Disclaimer Forward-Looking Statements This presentation and the oral statements made in connection therewith relate to a proposed business combination transaction between APA and Callon and contain forward-looking statements within the…
Disclaimer (continued) Non-GAAP Financial Measures This presentation includes financial information not prepared in conformity with generally accepted accounting principles (GAAP). Net debt and adjusted EBITDAX are non-GAAP measures. This…
APA + Callon Accretive Permian Transaction Permian pure-play with 145,000 total net acres Callon Asset 119,000 net acres in the Delaware Basin Overview 26,000 net acres in the Midland Basin Total Q3 2023 net production of 102 Mboe/d…
Transaction Highlights Enhances APAs Positioning as a Large Combined business of 500 Mboe/d of production and enterprise value Cap Independent of approximately 21 billion Complementary Permian Acreage Delivers scale and balance across…
Scale and Balance in the Midland / Delaware Delaware Midland APA Corporation Callon Petroleum (ex Alpine High) Net Midland / Delaware Acres (000s)(1) 281 145 Delaware: 84 119 Midland: 197 26 Net Midland / Delaware Production…
Callon Fulfills Criteria of APAs Disciplined M&A Approach APA M&A Strategy Callon Attributes APA continuously screens opportunities Attracts capital within APA portfolio to add scale in the U.S. and across global footprint Builds…
Significant Cost Synergies Identified Category Commentary Estimated Annual Run-Rate Savings Elimination of duplicate public company costs and optimizing G&A on the Overhead combined asset base 55 million Replacement of Callons…
Differentiated Large Cap Independent with Diverse Asset Base Enhanced Permian Position with Large-Scale International Production and Exploration Upside NORTH Balanced Global Production Base ALASKA SEA 3Q 2023 Production PERMIAN…
APAs Disciplined Financial Approach Return of Capital Balance Sheet Return a minimum of 60% of free cash APA intends to continue strengthening flow to shareholders through a Framework competitive base dividend and share Framework…
APA is a Highly Differentiated Large Cap E&P Short-cycle unconventional oil drilling inventory in the Permian is bolstered by transaction Diversified portfolio of Onshore conventional development in Egypt and the option to resume…
Attractive Pro Forma Maturity Profile 9/30/23 Pro Forma Debt Maturity Profile (MM)(1)(2) 3,389 Long-Term Debt Anticipated Term Loan Debt 1,608 1,500 551 516 325 500 211 235 2023 2024 2025 2026 2027 2028 2029 2030 .…
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