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CREDIT SUISSE ENERGY SUMMIT – Apache Corp

Apache Corp · Feb 25, 2015 · 27 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. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 1
    02.25.2015 RIGHT PEOPLE. RIGHT ACREAGE. RIGHT STRATEGY
  2. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 2
    TODAYS KEY MESSAGES Strong 4Q 2014 results Positioning for success in low oil price environment Driving returns through new processes and initiatives Portfolio transformation Right people, right acreage, right strategy 2
  3. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 3
    4Q OPERATIONAL HIGHLIGHTS Pro forma global production growth Up 12% YoY 609 MBOE/D Pro forma N.A. onshore oil production growth Up 21% YoY 153 MBOE/D Pro forma international oil production growth Up 15% YoY 145 MBOE/D…
  4. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 4
    POSITIONING FOR SUCCESS IN LOW OIL PRICE ENVIRONMENT Attacking the cost structure Consolidating acreage Lowering North American base production decline rate Establishing medium and long-term field development plans for various…
  5. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 5
    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…
  6. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 6
    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…
  7. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 7
    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…
  8. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 8
    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…
  9. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 9
    2014 WAS A PIVOTAL YEAR FOR APACHE Several 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…
  10. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 10
    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 10
  11. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 11
    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 Food (Area B)…
  12. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 12
    PERMIAN REGION Central Basin Platform / NW Shelf 3rd largest acreage positon Achieved record production of 169 MBOE/D SMB Wolfcamp in 4Q 14 Delware Basin Hz 25% YoY production growth Averaged 40 rigs (26 20 mi APA acreage…
  13. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 13
    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…
  14. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 14
    SOUTHERN MIDLAND BASIN WOLFCAMP Deadwood Acres 200,000 net Planned 2015 Rigs 2-4 rigs Glasscock Wildfire Inventory 2,900 locations Midland Scottish Rite Hospital Powell- Drilling initial wells in Wildfire Miller Multiple…
  15. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 15
    CENTRAL BASIN PLATFORM / NORTHWEST SHELF Yeso Acres 865,000 net Planned 2015 Rigs 2-3 rigs (1-2…
  16. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 16
    EAGLE FORD Grant Well Pad: Robertson Acres 288,000 net 4 well average 24-hour peak rate of 1,282 BO/D Brazos Planned 2015 Rigs 1-2 rigs and 1 MMCF/D Inventory(1) 3,000 Hz locations Burleson Reducing rig count in 2015 to 1-2…
  17. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 17
    CANYON LIME Acres 130,000 net Planned 2015 Rigs 1-2 rigs Bivins East 41-1H* Lateral length: 5,500 Cum Oil: 67,000 BO (10 mo.) Inventory 800 Hz locations Masterson 87-1H Currently Drilling Continued step out testing LIT 110-H &…
  18. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 18
    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 &…
  19. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 19
    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 2014 gross oil production Gindi /…
  20. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 20
    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…
  21. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 21
    NEW OIL DISCOVERIES IN THE WESTERN DESERT PTAH Major APA Egypt Field Discoveries BERENICE Field Names Reserves, MMBOE Year Ptah (est) 33 (2P) 2014 Berenice (est) 15 (2P) 2014 Phiops 17 2008 Hydra 60 2007 Berenice AEB (2P…
  22. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 22
    NORTH SEA: FIRING ON ALL CYLINDERS 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…
  23. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 23
    NORTH SEA 2014 PRO FORMA CASH FLOW SENSITIVITY Brent Oil Price in Billions 120 38% oil price decrease = 1.50 17% AT cash flow decrease 96 / Bbl 100 1.20 1.25 80 1.11 80 1.00 80 1.00 / Bbl 60 60 60 0.75 / Bbl 40 0.50…
  24. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 24
    TODAYS KEY TAKEAWAYS Strong 4Q 2014 results Positioning for success in low oil price environment Driving returns through new processes and initiatives Portfolio transformation Right people, right acreage, right strategy 24
  25. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 25
    APPENDIX
  26. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 26
    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 2014 2014…
  27. CREDIT SUISSE ENERGY SUMMIT – Apache Corp – slide 27
    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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