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HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp

Apache Corp · Mar 25, 2014 · 20 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 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 1
    HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE G. STEVEN FARRIS MARCH 24, 2014
  2. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 2
    STRATEGIC REPOSITIONING FOR NEXT GROWTH PHASE N.A. Onshore MBOE/D, Net Liquids 800 Expansion GOM 750 International 700 North America 650 Repositioned for Onshore 600 International Next Growth Phase 550 Expansion 537 500…
  3. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 3
    REPOSITIONING OBJECTIVES Focused portfolio: growth assets, free cash flow assets Powered by North America onshore Play to our core strength in operational execution Production growth: visible, predictable, repeatable Rate of…
  4. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 4
    DECISIVE STEPS TAKEN IN 2013-14 Delivered portfolio repositioning GOM Shelf sale (retaining 50% of exploration portfolio) Egypt JV with Sinopec Argentina sale1 Canada transitioning Accelerated North America liquids growth:…
  5. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 5
    REPOSITIONED PORTFOLIO North America Onshore GOM International 20091 2013 Pro Forma2 8% 8% 34% North 11% 60% North 7% America 14% America 11% 10% Onshore 17% Onshore 13% 3% 20% GOM 2% 14% 13% GOM Shelf 23% 24%…
  6. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 6
    APACHE TODAY Proven leader in oil-levered North America growth: 1 growth generator in Permian + Anadarko basins Strongly positioned to drive the companys growth Major free cash flow assets: Egypt, North Sea, Australia: 1 positions…
  7. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 7
    1 GROWTH GENERATOR IN THE PERMIAN BASIN MBOE/D, Net Average MBOE/D Added in 2013 20 19 18 Central Basin Midland Platform Basin 16 Delaware Basin 14 12 10 8 3.3MM acres (1.7MM net) 127 MBOE/D in 2013 6 22% liquids…
  8. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 8
    MULTI-PLAY ANADARKO BASIN GROWTH ENGINE 58 YEAR TRACK RECORD Horizontal Well Liquids Drive APAs Growth % Liquids 20% 34% 50% MBOE/D, Net 100 91 90 15 mi 80 APA acreage 70 61 1.8MM acres (1MM net) 60 91 MBOE/D in 2013 50 45…
  9. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 9
    MULTI-YEAR TRACK RECORD: PROVEN DRIVERS Liquids Track Record (B/D) BOE/D Track Record 160,000 250,000 151 Permian Central Permian Central 227 140,000 200,000 120,000 100,000 150,000 80,000 100,000 89 60,000 39 40,000…
  10. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 10
    LEADER IN NORTH AMERICA LIQUIDS GROWTH 2013 % Growth 34% 34% 26% 21% 15% 5% APA A B C D E 14 Note: Peers include: Anadarko, Chesapeake, Devon, EOG, and Occidental. Latest 2013 company guidance used for companies who…
  11. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 11
    CENTRAL TEXAS EAGLE FORD 2014 PROGRAM 2014 Eagle Ford Plans Acres (000) 488 (182 net) 2014 Capital (MM) 300 2014 Avg. Rigs 4 2014 Gross Wells 40+ Testing play and evaluating resource potential 150 250 Locations 3 rigs…
  12. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 12
    INTERNATIONAL: SUSTAINABLE FREE CASH FLOW WITH UPSIDE Egypt, North Sea Australia BERYL North Sea Apache Acreage Oil Field Gas Field FORTIES Sustainable free cash flow generation Visible growth project pipeline 1 BN in…
  13. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 13
    WHEATSTONE LNG Pre-Tax Cash Flow at 100 Brent1 Illustrative Free Cash Flow Profile MM 20-Year Contracts 1,100 900 700 500 300 100 First production in 2016 -100 -300 85% contracted (oil-based pricing) Pre-Tax Cash Flow -500…
  14. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 14
    KITIMAT LNG A Commercialize 50 TCF gross discoveries in Liard, Horn River Basins Most advanced LNG project in Canada 10 MMTPA LNG, APA currently 50% Apache operates upstream 2013: Chevron became operator of downstream 2014:…
  15. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 15
    2014 EXPECTATIONS 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 19 Note: All growth rates based on 2013 pro…
  16. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 16
    2014 CAPITAL PLAN North America Onshore GOM International E&P Capital = 8.5 Bn1 Australia North Sea 0.8 Bn 0.9 Bn 9% 11% Central 1.7 BN Egypt 0.9 Bn 20% 11% 64% North GOM America 0.5 Bn 6% Onshore 7% Canada 0.6 Bn…
  17. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 17
    WE ARE ALREADY DELIVERING IT 2013 Production Growth 2014 Plan2 Reported1 Retained Assets 8% 6.4% 5% -1.3% Note 1. All growth rates exclude Egypt tax barrels and noncontrolling interest. 2013 continuing operations. 21 Note…
  18. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 18
    RETURNING CAPITAL TO SHAREHOLDERS Dividend 13% per share growth in 2012 18% per share growth in 2013 25% per share growth in 2014 Strategy: consistently grow our dividend at attractive rates Buyback 1.2 BN 2013 + 2014 YTD Our…
  19. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 19
    HIGH-GRADED PORTFOLIO: ENHANCED PREDICTABILITY 2017: Wheatstone LNG1 At full ramp-up: MBOE/D, Net 1 BN annual free cash flow 700 30 MBOE/D, net No decline for decades 650 600 550 Enhanced predictability with 500 high-graded…
  20. HOWARD WEIL 42ND ANNUAL ENERGY CONFERENCE – Apache Corp – slide 20
    APACHE TODAY Proven leader in oil-levered North America growth: 1 growth generator in Permian + Anadarko basins 60% of company production in NA onshore (and rising) Major free cash flow assets: 1 BN/year FCF from Egypt, North Sea,…

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