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RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp

Apache Corp · Mar 5, 2013 · 29 slides

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Slides

  1. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 1
    RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE March 5, 2013
  2. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 2
    2012 HIGHLIGHTS Repositioned portfolio with greater emphasis on North American oil and liquids growth Significantly expanded drilling inventory in the North Sea Sustained active operations while mitigating risks in Egypt Achieved…
  3. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 3
    2013: APACHES FOCUS FOR THE YEAR AHEAD 1. Continue to build upon Apaches strong track record of profitable, rate-of-return driven growth 2. Accelerate North American onshore liquids growth 3. Build future value with mid to long-term,…
  4. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 4
    BUILDING UPON APACHES STRONG TRACK RECORD 5
  5. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 5
    APACHES STRONG TRACK RECORD PROFITABLE LONG-TERM GROWTH MBOE/D, Net 850 800 750 700 650 600 550 500 450 400 350 300 250 200 150 100 50 0 2013E 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002…
  6. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 6
    APACHES STRONG TRACK RECORD PROFITABLE GROWTH PER SHARE 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 Cash Flow per Share (/share) Adjusted…
  7. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 7
    APACHES STRONG TRACK RECORD UNIQUE, BALANCED COMMODITY MIX DRIVES PERFORMANCE 4Q Production Breakout By Product 4Q Revenue Breakout By Product 800 MBOE/D 4.4 B 26% 27% 46% 35% 17% 30% 7% 12% International Liquids…
  8. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 8
    APACHES STRONG TRACK RECORD UNIQUE INTL GAS MIX: BENEFITTING FROM RISING PRICES Realized Gas Price International Gas Revenue /MCF MM 7.00 350 6.00 300 North America 5.00 250 4.00 200 3.00 150 International 2.00 100 1.00…
  9. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 9
    10 APACHES STRONG TRACK RECORD CONSISTENTLY DELIVERING TOP TIER RETURNS ROACE - 3YR Weighted Average ROE 3YR Weighted Average 16% 16% 15% 14% 13% 14% 13% 12% 12% 10% 10% 10% 10% 8% 7% 8% 7% 6% 6% 6% 6% 5% 5% 4% 4%…
  10. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 10
    ACCELERATE NORTH AMERICAN ONSHORE LIQUIDS GROWTH 11
  11. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 11
    ACCELERATE NA ONSHORE LIQUIDS GROWTH Capital focus: 55% of 2013 E&D capital dedicated to NA Onshore regions Drilling focus: 75% of all 2013 wells will be drilled in NA Onshore 40% of all wells drilled in NA Onshore will be…
  12. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 12
    ACCELERATE NA ONSHORE LIQUIDS GROWTH REPRESENTS 55% OF 2013 E&D CAPITAL PLAN Total 2013 Capital: 10.5 B Region E&D Capital: 8.3 B* Central, 1.4B Projects, 2.2B 13% 21% New Ventures, 0.1B Argentina, 0.2B 1% 2% NA Onshore…
  13. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 13
    ACCELERATE NA ONSHORE LIQUIDS GROWTH ACCELERATING VALUE FROM RECENT ACQUISITIONS Liquids Growth (Bbl/d) BOE Growth (Boe/d) 120,000 180,000 Permian Permian Central 160,000 Central 100,000 140,000 80,000 120,000 100,000 60,000…
  14. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 14
    ACCELERATE NA ONSHORE LIQUIDS GROWTH PERMIAN: RAMPING UP HZ DEVELOPMENT New Mexico Texas 2012 Highlights Production Growth +18% YoY (108 Mboe/d) Liquids Growth 25% YoY Production Replacement 262%* Midland Proved Reserves 800…
  15. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 15
    ACCELERATE NA ONSHORE LIQUIDS GROWTH WOLFCAMP SHALE: BUILDING ON 2012 HZ SUCCESS Apache Acreage in Play Fairway Wolfcamp Shale Opportunity Set Wolfcamp Gross Acres; (Net) 450,000; (345,000) Shale Net BOE/D (Dec.) 3,700 2012 Hz…
  16. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 16
    ACCELERATE NA ONSHORE LIQUIDS GROWTH CLINE SHALE: EXPANDING HZ PROGRAM Apache Acreage in Play Fairway Cline Shale Opportunity Set Gross Acres; (net) 650,000; (520,000) Net BOE/D (Dec.) 800 2012 Hz Wells 6 Deadwood Drilling…
  17. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 17
    ACCELERATE NA ONSHORE LIQUIDS GROWTH CENTRAL: HZ DRILLING FUELING SIGNIFICANT GROWTH Kansas 2012 Highlights Production Growth +10% QoQ (79 Mboe/d in Q4) Liquids Growth +24% QoQ (31 Mboe/d in Q4) Texas Anadarko Basin Production…
  18. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 18
    ACCELERATE NA ONSHORE LIQUIDS GROWTH 2013 OBJECTIVE: ENHANCING RETURNS BY CUTTING COSTS During 2012, day rates for vt rigs came down (5-7% drop) as did completion costs (as much as 30% drop) in Permian and Central APA focused on…
  19. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 19
    BUILDING FOR THE FUTURE 20
  20. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 20
    BUILDING FOR THE FUTURE 21% OF 2013 CAPITAL FOR MID TO LONG-TERM PROJECTS 13 Capex Total CAPEX: 10.5B Project (MM) Online in 2014 Project CAPEX: 2.2B Balnaves 230 Coniston 170 Other E&D Varanus Comp 110 3.7B Other 130 Australia…
  21. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 21
    BUILDING FOR THE FUTURE AUSTRALIAS EXTENSIVE DEVELOPMENT PIPELINE 2012 Highlights Production 64.6 Mboe/d Wells Drilled 15 (10 exploration) Full year of production at Devils Creek Gas Plant; Operational Macedon Project over 90%…
  22. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 22
    BUILDING FOR THE FUTURE LNG DEVELOPMENTS WITH A STRATEGIC PARTNER Wheatstone LNG NW Australia Kitimat LNG NW Canada Construction underway 1st mover for Canadian exports 1st cargo projected YE16 Monetizes 50 TCF Monetizes 11…
  23. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 23
    BUILDING FOR THE FUTURE NORTH SEA: ACCELERATING DRILLING ON EXPANDED FOOTPRINT 2012 Highlights Production Growth +36% YoY (75 Mboe/d) Wells Drilled 21 Awarded 11 operated & 1 non-op new licenses; Installed jacket for Forties…
  24. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 24
    CLOSING 25
  25. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 25
    APACHE CONTINUES TO DELIVER STRONG RESULTS 2012 production up 5.4% to 779 Mboe/d* 51% oil and liquids Production growth in 32 out of last 34 years Strong production replacement 2012 cash margins at over 40 per Boe 2012 Adjusted…
  26. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 26
    AND YET APACHE TRADES AT A SIGNIFICANT DISCOUNT TO COMPETITORS Price / Book Value Price / 2013E Earnings 3.0x 24.0x 2.5x 19.9x 2.3x 18.8x 2.5x 20.0x 16.7x 1.9x 15.1x 2.0x 1.6x 16.0x 11.0x 1.5x 12.0x 1.0x 0.9x 7.9x 1.0x 8.0x…
  27. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 27
    2013: APACHES FOCUS FOR THE YEAR AHEAD 1. Continue to build upon Apaches strong track record of profitable, rate-of-return driven growth 2. Accelerate North American onshore liquids growth 3. Build future value with mid to long-term,…
  28. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 28
    APPENDIX 29
  29. RAYMOND JAMES 34TH ANNUAL INSTITUTIONAL INVESTORS CONFERENCE – Apache Corp – slide 29
    RECENT EGYPTIAN DISCOVERIES CONFIRMING ADDITIONAL EXPLORATION OPPORTUNITIES Amoun NE-1X Discovery on the north flank of Apache Conc. WD 33-5 Amoun NE-1X Khalda Ridge Karama-15 Tested at a 3,186 Bo/d and condensate and 11 mmcf/d…

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