SANFORD C. BERNSTEINS STRATEGIC DECISIONS CONFERENCE MAY 28, 2014
REPOSITIONED FOR PROFITABLE GROWTH Focused portfolio Growth assets, free cash flow Powered by oil-levered North America onshore Play to our core strength in operational execution Production growth Visible, predictable,…
READY FOR THE NEXT GROWTH PHASE STRATEGIC SHIFT TO N.A. ONSHORE EXPANSION MBOE/D, Net N.A. ONSHORE 800 EXPANSION 750 700 650 600 INTERNATIONAL 550 EXPANSION 500 450 400 350 300 INTERNATIONAL 250 ENTRY 200 150 100 50…
DECISIVE STEPS TAKEN IN 2013-14 Repositioned portfolio JV with Sinopec in Egypt Divested GOM Shelf (retaining 50% of exploration portfolio), Argentina, Lucius and Heidelberg Transitioned Canada Returned capital to shareholders…
REPOSITIONED PORTFOLIO 2009 Production1 Q1 2014 Pro Forma Production 2 8% 8% 34% N.A. 10% 62% N.A. 12% 7% Onshore Onshore 11% 16% 10% 14% 3% Gulf of Mexico 20% Gulf of 2% Mexico 14% 13% 27% 19% 6% 537 MBOE/D 548…
N.A. ONSHORE RESOURCE BASE: VISIBLE, PREDICTABLE UPSIDE Pro Forma Proved Reserves1 Total Resources2 1.7 BBOE 14.0 BBOE Canada 21% Canada Central Central GC Onshore 24% 38% 18% GC Onshore 4% 54% Permian Permian 40% 7…
Q1 2014 HIGHLIGHTS EXECUTING OUR PLAN & DELIVERING RESULTS Adjusted Earnings: 1.78/share (707MM)1 Operating Cash Flow: 2.2 BN1 N.A. Onshore Liquids Growth: 21% increase YoY Global Production: 640 MBOE/D Pro Forma Production: 548…
PERMIAN: 1 GROWTH GENERATOR Average MBOE/D added in 2013 20 19 15 MBOE/D, Net Central Basin Midland Platform Basin 10 Delaware Basin 5 0 APA A B C D E F 3.3MM acres (1.7MM net) 127 MBOE/D in 2013 22% liquids…
PERMIAN: Q1 2014 HIGHLIGHTS AVERAGED 38 RIGS AND COMPLETED 196 WELLS Mboe/d Rigs (bars) Production and Operated Rig Count Growth (line) Q1 2014 Results 160 50 150 MBOE/D Average Production APA Permian 45 +25% YoY 140 region…
FIELD/AREA PERMIAN: RIGS AND RESULTS APA Well Name Landing Zone Peak IP rate 1st Flow Date Lateral Length DEADWOOD YESO Greatwhite 44 1H Cline Hz (Lower) APA Hz rigs APA Vt rigs Crow Fed 23H 956 BOE/D (25) (11) Yeso Hz 652…
CENTRAL: 58 YEAR TRACK RECORD Horizontal Well Liquids Drive APAs Growth MBOE/D, Net 100 91 80 61 60 45 40 20% 34% 50% 15 mi 20 Liquids Liquids Liquids APA acreage Granite Wash Tonkawa Canyon Wash/Lime 0 Cleveland Marmaton…
CENTRAL: CANYON WASH/LIME Boys Ranch 116 5 Acres (000) 150 (100 net) Canyon Wash 30 Day IP 2,246 BO/D 2014 New Wells 12 Apache 244 sq mile 3D Resources 107 MMBOE net Bivins LIT 110 1H System Series Group Canyon Lime Horizontal…
GULF COAST: EAST EAGLE FORD TARGETING OIL IN NORTHERN WINDOW Maverick Basin and Apache Acreage: San Marcos Arch East Texas Basin 500,000 gross acres Coniacian, Santonian, 200,000 net acres Campanian Austin Chalk Austin…
GULF COAST: EAST EAGLE FORD SIGNIFICANT POTENTIAL Robertson 5 rigs running, ramp up to 8 by mid- Milam Brazos year Spud 15 wells to date Grimes Burleson 5 wells currently on production Lee Focused on driving down costs…
GULF COAST: EAST EAGLE FORD STRONG RESULTS TO DATE Company B 12 industry wells with 30 day IP: 626 BO/D Average 30-day rates of 590 BOE/D 695 619 APA Stasny - Porterfield EF 1H 530 551 636 Peak Rate: 728 BOE/D 282 512 605 586…
CANADA: FOCUS ON LIQUIDS-RICH OPPORTUNITIES Total Q1 2014 Rigs APA Hz rigs (11) Note: One rig not depicted in Midale . Wapiti (Montney) House Mountain (Swan Hills) Kaybob 3.9 MM acres (3.0 MM net) 1 (Bluesky &…
INTERNATIONAL: SUSTAINABLE FREE CASH FLOW WITH UPSIDE EGYPT, NORTH SEA AUSTRALIA 88,093 BOPD, 377,357 MCFPD 59,092 BOPD, 45,071 MCFPD 16,825 BOPD, 215,792 MCFPD Beryl Julimar Balnaves Gindi / Beni Suef North Sea Coniston…
LNG: MONETIZING SIGNIFICANT APACHE DISCOVERIES WHEATSTONE LNG (Australia) KITIMAT LNG (Canada) 8.9 MMTPA LNG, APA = 13% 10 MMTPA LNG; APA = 50% First production 4Q 2016 100 TCF recoverable gas in Liard, 85% contracted (oil-based…
2014 CAPITAL PLAN E&P Capital = 8.5 Bn1 Australia North Sea 0.8 Bn 0.9 Bn 9% Central 11% 1.7 BN Egypt 0.9 Bn 20% 11% 64% North GOM America 6% 0.5 Bn Onshore 7% Canada 0.6 Bn 6% 31% Gulf Coast Permian 0.5 Bn 2.6…
2014 NORTH AMERICA ONSHORE PLAN E&D capital of 5.4BN 1,400 gross wells (875 horizontal) 15% to 18% North America onshore liquids growth Driven by oil Continue delineation of liquids plays Gulf Coast: Eagle Ford oil Central:…
2014 GUIDANCE ON TRACK 15-18% North America onshore liquids growth Driven by oil Double-digit global liquids growth 5-8% global BOE production growth Capex ex LNG = within cash flow 23 All growth rates based on 2013 pro…
THREE YEAR OUTLOOK: HIGH GRADED PORTFOLIO PROVIDING ENHANCED PREDICTABILITY MBOE/D, Net 700 Liquids growth driven by oil 650 600 Strong international 550 FCF generation 500 450 Capex ex LNG = cash flow 400 350 300 250 200…
APACHE TODAY: POSITIONED FOR PROFITABLE GROWTH Proven leader in oil-levered N.A. growth: 62% of production N.A. onshore (& growing) Major free cash flow assets: 1 BN/year FCF from Egypt & North Sea Industry shift to execution:…
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