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UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp

Apache Corp · May 20, 2014 · 22 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 19-22, 2014
  2. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 2
    STRATEGIC REPOSITIONING FOR NEXT GROWTH PHASE MBOE/D, Net N.A. Onshore Expansion 800 750 GOM International 700 North America Onshore 650 600 International Expansion 550 500 450 400 350 300 International Entry 250 200…
  3. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 3
    DECISIVE STEPS TAKEN IN 2013-14 Delivered portfolio repositioning GOM Shelf sale (retaining 50% of exploration portfolio) Egypt JV with Sinopec Argentina sale Canada transitioning Lucius and Heidelberg sale Accelerated North…
  4. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 4
    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…
  5. UBS GLOBAL OIL AND GAS 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% Gulf of 2% 14% 13% Mexico Gulf of 23%…
  6. UBS GLOBAL OIL AND GAS 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. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 7
    1ST QUARTER 2014 RESULTS Adjusted Earnings: 1.78/share (707MM)1 Operating Cash Flow: 2.2 BN1 N.A. Onshore Liquids Growth: 21% increase YoY Production: 640 MBOE/D Pro Forma Production: 548 MBOE/D2 62% Liquids 59% N.A. Onshore 43%…
  8. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 8
    NORTH AMERICA ONSHORE POSITION Canada 2013PF Avg. Production1: 74.6 MBOE/D Undeveloped Resources: 2.8 BBOE Emerging Montney / Duvernay Shale Plays Permian 2013 Avg. Production: 127.1 MBOE/D Central Undeveloped Resources: 4.8…
  9. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 9
    N.A. ONSHORE 2013 HIGHLIGHTS North America onshore liquids growth 34% Most active N.A. onshore driller in 2013 Averaged 79 rigs and drilled 1,300 wells Outstanding organic production replacement and reserve growth Overall…
  10. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 10
    N.A. ONSHORE 2014 PLAN 2014 E&D capital of 5.4Bn 47% Permian; 32% Central Avg. Rigs 85; gross wells 1,400 875 horizontal gross wells 2014: 15% to 18% North America onshore liquids growth Driven by oil Continue delineation of…
  11. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 11
    N.A. ONSHORE RESOURCE BASE: VISIBLE, PREDICTABLE UPSIDE Eagle Ford Resources Under Assessment Pro Forma Proved Reserves1 Total Resources2 1.7 BBOE 14.0 BBOE Canada 21% Canada 24% Central Central 18% GC 4% 38% Onshore…
  12. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 12
    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 6% 0.5 Bn Onshore 7% Canada 0.6 Bn…
  13. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 13
    2014 PLAN FOCUSED ON ONSHORE LIQUIDS GROWTH Total N.A. 2014 E&D Capital = 5.4 Bn 2014 Plan Canada 2014 Project Capital* 0.6 Bn Avg. Rigs Total Wells GC Onshore 775 MM 0.5 Bn 11% 10% Permian 39 (23 Hz) 768 (297 Hz) Central…
  14. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 14
    PROVEN NORTH AMERICA GROWTH DRIVERS Liquids Track Record (B/D) BOE/D Track Record 160,000 250,000 Permian Central 218 Permian Central 141 140,000 200,000 120,000 100,000 150,000 80,000 100,000 89 60,000 39 40,000…
  15. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 15
    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 3.3MM acres (1.7MM net) 8 127 MBOE/D in 2013 6 22% liquids growth…
  16. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 16
    HZ WELL MANUFACTURING - LEVERAGING EXPERIENCE DRIVING EFFICIENCY ACROSS ALL DISCIPLINES Hz Drilling Operations Excellence Increasing pad drilling Horizontal Rig Count Sharing hz drilling best practices Frac Stimulation…
  17. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 17
    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…
  18. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 18
    CENTRAL TEXAS EAGLE FORD DELIVERING GROWTH 488,000 acres (182,000 net) 4 rigs running, ramp up to 8 by mid-year Drilled 10 wells to date Focused on driving down costs Recent 3D seismic over 300+ square miles, with additional in…
  19. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 19
    LIQUIDS RICH OPPORTUNITIES IN CANADA 4.1MM acres (3.2MM net) Avg. 1Q 2014 Rigs Kitimat 74.6 MBOE/D in 20131 Upstream APA Hz rigs (8) 30% liquids growth1 House Avg. 8 rigs in Q1 2014 Mountain 3,535 active wells (down from…
  20. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 20
    LEADER IN NORTH AMERICA LIQUIDS GROWTH 2013 % Growth 34% 34% 26% 21% 15% 5% APA A B C D E 21 Note: Peers include: Anadarko, Chesapeake, Devon, EOG, and Occidental.
  21. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 21
    N.A. ONSHORE LONG-TERM GROWTH PREDICTABLE, REPEATABLE, PROFITABLE MBOE/D, Net 450 400 350 300 250 200 150 100 50 0 2013PF 2014E 2015E 2016E Midpoint of expectation range displayed 22 Note: Pro forma for divested…
  22. UBS GLOBAL OIL AND GAS CONFERENCE – Apache Corp – slide 22
    NORTH AMERICAN POWERHOUSE Most active driller Track record of delivering consistent, repeatable growth Organic production replacement of 230% at 17 per BOE Substantial reduction of costs in resource plays Massive resource base…

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