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UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp

Apache Corp · May 22, 2013 · 29 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. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 1
    UBS GLOBAL OIL AND GAS CONFERENCE MAY 22, 2013
  2. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 2
    TRACK RECORD OF LONG-TERM GROWTH MBOE/D, Net 850 800 750 700 650 600 550 500 450 400 350 300 250 200 150 100 50 0 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008…
  3. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 3
    PROFITABLE LONG TERM GROWTH Production per Share (BOE/share) Reserves per Share (BOE/share) 0.75 9.00 0.60 7.50 6.00 0.45 4.50 0.30 3.00 0.15 1.50 0.00 0.00 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012…
  4. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 4
    TOP TIER RETURNS THREE YEARS ENDED 12/31/2012 ROACE: 3 Year Average ROE: 3 Year Average 16% 16% 14% 14% 12% 12% 10% 10% 8% 8% 6% 6% 4% 4% 2% 2% 0% 0% OXY A APA APA NBL C DVN D APC E EOG F A OXY APA C DVN NBL…
  5. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 5
    2012: ANOTHER STRONG YEAR Record Production: 779 MBOE/D (+5.4%)* Adjusted earnings: 3.8 BN** Cash flow: 10.2 BN*** Production replacement: 131%**** Dividend growth: +13% * Adjusted for dispositions ** Adjusted earnings…
  6. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 6
    2012 STRATEGIC HIGHLIGHTS Strategic steps: Doubled position in liquids-rich Anadarko Basin Expanded Kitimat LNG project Chevron new strategic partner Increased equity interest to 50% Contributed Liard 48Tcf of gas potential…
  7. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 7
    PORTFOLIO OF LEADING POSITIONS Growing through the drillbit: 2 driller onshore U.S. (over 70 rigs) 1 in Permian Basin (42 rigs/17 Hz) 2 in Anadarko Basin (28 rigs/26 Hz) 1 Independent operator in UK North Sea (Brent oil) 1…
  8. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 8
    BALANCED PORTFOLIO = SUSTAINABLE RETURNS Production Distribution Revenue Distribution /Bbl Oil: 109.22 /Bbl NGL: 44.43 Oil: 93.20 NGL: 27.58 International Liquids North America International 25% Liquids Liquids North America…
  9. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 9
    2013 PLAN: GROWTH THROUGH DRILLING Strong growth: 25%+ NA onshore liquids growth 4.6 Bn capex (55% of E&D total) Drill over 1,000 gross wells 3% to 5% Boe growth Build the future: 2.2 Bn capex for project development 700MM for…
  10. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 10
    PRODUCTION: SHIFTING TO N.A. ONSHORE BALANCED: NO REGION GREATER THAN 20% 782 MBOE/D Australia Argentina North Sea 7% 6% Central 10% 11% International Liquids 25% North America N.A. Egypt 19% LiquidsOnshore 15% Permian…
  11. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 11
    ACCELERATION OF N.A. LIQUIDS GROWTH LIQUIDS (NET BARRELS/DAY) NET BOE/DAY 140,000 250,000 Permian Central 129 Permian Central 120,000 206 200,000 100,000 80,000 150,000 60,000 89 100,000 39 40,000 50,000 20,000 0 0…
  12. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 12
    RESOURCE BASE* PREDOMINANTLY ONSHORE NORTH AMERICAN LIQUIDS Proved Reserves + Proved Reserves Permian / Central Resources 2.9 BBOE 11.7 BBOE Canada Argentina Australia Canada North Sea 5% International Egypt 3% Central…
  13. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 13
    PERMIAN BASIN RESOURCES* Net Resources Acreage Identified Locations 3.8 BBOE 3.5 MM gross (1.6 MM net) 34,518 CBP + N/NW Shelf Midland Vertical Locations 9,798 Locations 17,816 Central Basin Platform Net MMBOE 691 North & North West…
  14. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 14
    PERMIAN BASIN RAMPING UP HORIZONTAL DEVELOPMENT New Mexico Texas 2012 Highlights 108 Mboe/d Net Production +18% YoY Liquids Growth +25% YoY Midland Production 262%* Replacement Proved Reserves 800 MMboe Wells Drilled 104 Hz…
  15. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 15
    PERMIAN OIL: DELIVERING GROWTH MBOE/D Avg. Op. (Bar) Rigs (Line) 120 40 2013 Plans Mariner 35 1Q13 Production 119.4 Mboe/d 100 Closing BP Closing 30 E&D Capital 2.4B 80 APA Permian Average Rigs 34 Region 25 Established…
  16. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 16
    MIDLAND BASIN VERTICAL DEADWOOD: IMPACTIVE GROWTH Production up 8.4x to 25.4MBOE/D Wolfwood and Fusselman vertical plays Developing 40 ac. vertical locations Initiating 20 ac. infill development locations 5.9K identified future…
  17. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 17
    WOLFCAMP SHALE: BUILDING ON 2012 SUCCESS Apache Wolfcamp Shale Summary Wolfcamp APA Gross Acres (000) 450 Shale APA Net Acres (000) 345 Horizontal Wells Drilled 2012 21 Horizontal Wells Planned 2013 90+ Drilling Locations 971…
  18. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 18
    CLINE SHALE: EXPANDING HZ PROGRAM Apache Cline Shale Summary APA Gross Acres (000) 650 APA Net Acres (000) 520 Horizontal Wells Drilled 2012 6 Horizontal Wells Planned 2013 20+ Deadwood area Drilling Locations 2,321 Inventory Net…
  19. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 19
    CENTRAL REGION RESOURCES* Net Resources Acreage Identified Locations 5.4 BBOE 1.9 MM gross (1.0 MM net) 32,546 Cleveland Locations 2,302 Marmaton Net MMBOE 195 Locations 1,593 Cleveland Net MMBOE 161 Marmaton Canyon Wash…
  20. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 20
    CENTRAL REGION HZ DRILLING FUELING SIGNIFICANT GROWTH Kansas 2012 Highlights 79 Mboe/d in Q4 Net Production +10% QoQ Texas Anadarko Basin 31 Mboe/d in Q4 Liquids Production +24% QoQ Canyon Wash Production 341% * Oklahoma…
  21. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 21
    CENTRAL REGION: DELIVERING GROWTH MBOE/D Avg. Op (Bar) Rigs (Line) 90 30 2013 Plans 80 1Q13 86.2 Mboe/d 25 Production (46% Liquids) 70 E&D Capital 1.4B Cordillera Avg. Rigs 29 (28 Hz) 60 Closing 20 Gross Wells 300 total / 285…
  22. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 22
    CENTRAL REGION 2013 DRILLING HIGHLIGHTS Cleveland Tonkawa Tonkawa 496 MCFD 458 BOPD 610 BOPD 1,575 MCFD 719 BOPD 1,800 MCFD Canyon GW Cottage Grove 395 BOPD 332 MCFD 1,915 BOPD 1,747 MCFD Cottage Grove 1,222 BOPD…
  23. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 23
    DRIVING DOWN COSTS IN RESOURCE PLAYS Drilling and Completion Costs Focus Reducing drilling days Reducing frac costs Pad drilling Self sourcing Optimizing bit selection Optimizing frac designs Mud programs Synergies from pad drilling…
  24. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 24
    NORTH SEA: DELIVERING OIL GROWTH 79.1 MBOE/D 1Q 2013 88% liquids (Brent pricing) Nevis & Ness Beryl Complexes 10/MCF gas realizations Buckland Doubled portfolio 2012 (Beryl) Maclure Skene 2012 Cash Flow: 1.5 Bn* SAGE…
  25. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 25
    ADVANCING MAJOR PROJECTS 2.2 BN OF 2013 CAPITAL FOR PROJECT DEVELOPMENT Total CAPEX: 10.5B Project CAPEX: 2.2B 2013E Capex Project (MM) Other E&D Australian Oil Developments 530 3.7B GOM Deepwater 200 LNG: Julimar / Wheatstone…
  26. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 26
    AUSTRALIA: WORLD CLASS DEVELOPMENT PIPELINE 61 MBOE/D 4Q 2012 Apache Acreage 40 44% oil (111.34 / Bbl) Miles Gas now contracting at near 8/MCF 70 MBOE/D expected to come online over next 4 years with major projects including:…
  27. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 27
    LNG DEVELOPMENT: MULTI-DECADE PROJECTS WHEATSTONE LNG (Australia) KITIMAT LNG (Canada) Construction underway First mover in Canada 8.9 MMTPA LNG 10 MMTPA LNG 1.25 BCF/D Phase 1 1.5 BCF/D Phase 1 First cargo 2016 Chevron…
  28. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 28
    LIARD BASIN 48 TCF, BEST UNCONVENTIONAL GAS RESERVOIR IN NORTH AMERICA Apache has unlocked and secured Horn River Liard the highest quality shale reservoir in North America 15 Miles 424,000 gross acres (50% CVX) Huge…
  29. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 29
    2013 ROADMAP FOR VALUE GROWTH Accelerate North America onshore liquids growth Advance projects Rigorously drive down costs Grow our dividend Re-focus portfolio 4 Bn asset sales and monetizations Pay down 2 Bn of debt (financial…

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