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HOWARD WEIL ENERGY CONFERENCE – Apache Corp

Apache Corp · Mar 23, 2015 · 25 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 1
    RIGHT PEOPLE. RIGHT ACREAGE. RIGHT STRATEGY
  2. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 2
    KEY UPDATES Delivered on 2014 operational plan and guidance Reacted quickly to falling oil price environment Reduced rig count in North America from 90 in 3Q 2014 to 17 rigs today Anticipate closing Wheatstone and Kitimat LNG…
  3. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 3
    POSITIONING FOR SUCCESS IN MULTIPLE OIL PRICE SCENARIOS Establishing medium and long-term field development plans under three price scenarios Continuing to attack the cost structure G&A, LOE and Capex Consolidating and high-grading…
  4. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 4
    STRATEGY Focused on Organization, Technology and Capital Allocation STRATEGY New integrated team approach with aligned Organization incentives Vertically integrated supply chain Thorough understanding of entire hydrocarbon…
  5. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 5
    PORTFOLIO TRANSFORMATION: PRODUCTION 2009 Production(1) Pro Forma 4Q 2014 Production(2) International International & GOM & GOM 34% N.A. Onshore 60% N.A. Onshore 537 MBOE/D 609 MBOE/D 50% Liquids 62% Liquids N.A. Onshore…
  6. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 6
    PORTFOLIO TRANSFORMATION: RESERVES 2009 Proved Reserves 2014 Proved Reserves(1) International & International & GOM GOM 52% N.A. 72% N.A. Onshore Onshore 2.4 BBOE 2.2 BBOE 45% liquids 61% Liquids (1) Proved reserves as…
  7. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 7
    STRATEGIC TRANSACTIONS OVER LAST 5 YEARS 125 7 14.8 Divested 5 110 1 3 7 5 6 95 2 4 8 9 3 1 2 4 80 5 3 WTI Oil Natural Gas 65 15.5 Bn Acquired 1 1/4/2010 1/4/2011 1/4/2012 1/4/2013 1/4/2014 1/4/2015 Major Acquisitions…
  8. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 8
    2014 WAS A PIVOTAL YEAR FOR APACHE Key leadership changes Closed or announced 7 billion of asset sales, including LNG exit Enhanced and expanded N.A. properties through 1.5 billion of leasehold and property acquisitions Added 100+…
  9. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 9
    ACREAGE Extensive inventory in four liquids-rich basins TOTAL NORTH AMERICAN ONSHORE Acreage: 9.8 MM Gross / 4.9 MM Net Proved Reserves: 1.6 BBOE Undeveloped Resource: 13.1 BBOE CANADA CENTRAL PERMIAN Eagle Ford 9
  10. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 10
    2015 NORTH AMERICAN CAPITAL PLAN Capex(1): 2.1 2.3 Bn 9 Primary Plays 2015 AVG RIGS 9 Primary Plays Delaware Basin Horizontals 4-5 (2) Canada Southern Midland Basin 2-4 9% CBP/NW Shelf Horizontals 2-3 Eagle Eagle Ford (Area B) 1…
  11. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 11
    PERMIAN REGION Central Basin Platform / NW Shelf Industrys 3rd largest acreage positon Midland Basin Achieved record production of 169 MBOE/D in 4Q 14 Delware Basin Hz 25% YoY production growth 20 mi APA acreage Averaged 40…
  12. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 12
    DELAWARE BASIN Acres 230,000 net Lea Planned 2015 Rigs 4-5 rigs Pecos Bend Eddy Inventory 1,400 Hz locations Loving Winkler WAHA Focusing primarily on Bone Springs Ward Reeves Testing additional targets and well designs…
  13. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 13
    SOUTHERN MIDLAND BASIN WOLFCAMP Acres 200,000 net Planned 2015 Rigs 2-4 rigs Glasscock Wildfire Inventory 2,900 locations Midland Powell- Drilling initial wells in Midland Miller County area Upton Reagan Multiple landing…
  14. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 14
    CENTRAL BASIN PLATFORM / NORTHWEST SHELF Yeso Acres 865,000 net Planned 2015 Rigs 2-3 rigs (1-2…
  15. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 15
    EAGLE FORD Robertson Acres 288,000 net Grant Well Pad: 4 well 30-day average IP Brazos Planned 2015 Rigs 1 rig of 750 BOE/D (88% Oil) Inventory(1) 3,000 Hz locations Burleson Reducing rig count in 2015 to 1 Grimes from peak of 12…
  16. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 16
    CANYON LIME Acres 130,000 net Bivins East 41-1H* Lateral length: 5,500 Planned 2015 Rigs 1 rig Cum Oil: 67,000 BO (10 mo.) Inventory 800 Hz locations Continued step out testing in lower zone Planning upper zone test in 2015…
  17. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 17
    INTERNATIONAL / GOM 2015 Capital Plan Expected capital budget of 2015 Capex: 1.5 -1.7 Bn 1.5 - 1.7 Bn is a decrease of 1.1 Bn from 2014 spending Australia & GOM Capital budget is exclusive of 30% any LNG capex North Sea &…
  18. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 18
    EGYPT: APACHE IS THE 1 OIL PRODUCER CURRENT LEASEHOLD: 6.8 MM gross acres 344 MBOE/D gross production In Shushan-Khalda Ridge Matruh 24 Concessions 4Q 2014, flat sequentially from 3Q Alamein Favorable Brent pricing Gindi / Beni…
  19. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 19
    EGYPT: TRACK RECORD OF LONG-TERM PRODUCTION GROWTH Gross Prod. Mboe/d 375 348 350 325 300 275 43% 250 225 200 175 150 125 100 57% 75 50 25 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010…
  20. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 20
    NEW OIL DISCOVERIES IN THE WESTERN DESERT Major APA Egypt Field Discoveries BERENICE PTAH Field Names Reserves, MMBOE Year Ptah (est) 33 (2P) 2014 Berenice (est) 15 (2P) 2014 30-Day IP Rates (BOE/D) Phiops 17 2008 Berenice-01:…
  21. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 21
    NORTH SEA: POSITIVE MOMENTUM CURRENT LEASEHOLD: Highest quarterly production rate 1.3 MM gross acres of 81 MBOE/D in 4Q 2014 0.6 MM net acres BERYL Industry-leading production efficiency greater than 90% North Sea Approximately…
  22. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 22
    NORTH SEA 2014 PRO FORMA CASH FLOW SENSITIVITY Brent Oil Price in Millions 38% oil price decrease = 120 1,500 17% AT cash flow decrease 96 / Bbl 100 1,200 1,250 80 1,100 / Bbl 1,000 80 1,000 60 / Bbl 60 750 40 500…
  23. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 23
    KEY TAKEAWAYS Delivering operationally Leading the peer group with 60% capital reduction in 2015 Balance sheet stability through LNG exit Receiving Brent oil pricing on approximately 50% of total volumes 23
  24. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 24
    2015 NORTH AMERICA ONSHORE GUIDANCE Production Region Guidance 40% Gulf Coast Oil 400 Permian 41% 358 56 43% Oil Oil 45% Central Oil Canada 302 Total NA Relatively Flat Onshore MBOE/D - 2014 2014 2014Sales*…
  25. HOWARD WEIL ENERGY CONFERENCE – Apache Corp – slide 25
    2015 INTERNATIONAL + GOM GUIDANCE Production Region Guidance 61% Egypt Gross Oil Egypt Net Australia 300 289 82 GOM North Sea 41% 60% Oil GOM Oil 60% N. Sea Oil Total Intl Slight Growth 207 GOM MBOE/D GOM…

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