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UBS Global Oil and Gas Conference – Apache Corp

Apache Corp · May 26, 2011 · 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
    A U S T R A L I A A R G E N T I N A C A N A D A E G Y P T N O R T H S E A U . S . C E N T R A L U . S . G U L F UBS Global Oil and Gas Conference May 26, 2011
  2. UBS Global Oil and Gas Conference – Apache Corp – slide 2
    Apache Today Key Metrics 732 MBOE/D net (Q1 2011) 49% Oil, 51% Gas 25% growth YOY 9 BN Cash Flow (Q1 2011 annualized) 48 BN equity value ARated, 24% debt/cap 3
  3. UBS Global Oil and Gas Conference – Apache Corp – slide 3
    Consistent Focus: Rate of Return 2010 ROACE 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% A APA C D E F G H I J Peers displayed: Anadarko, Chesapeake, Devon, Encana, EOG, Newfield, Noble, Occidental and Talisman. 4
  4. UBS Global Oil and Gas Conference – Apache Corp – slide 4
    Consistent Focus: Rate of Return AT Rate of Return on Drilling Program ROR /BOE 100 40% Drilling Capital ROR 90 35% WTI 80 30% 70 All Costs 25% ROR 60 20% HH 50 NatGas 40 15% 30 10% 20 5% 10 0% 0 2003 2004 2005 2006…
  5. UBS Global Oil and Gas Conference – Apache Corp – slide 5
    Consistent Focus: Rate of Return Apaches Regional Model: Autonomous regions: Rate of Return Driven Tough local competitors Empowered to optimize every decision Argentina Central Performance systems: Common Apache language North…
  6. UBS Global Oil and Gas Conference – Apache Corp – slide 6
    Strength in Balance, Reach Hydrocarbon Province Product, Market Argentina Permian 44 MBOE/D 84 MBOE/D N. America Central Liquids 42 MBOE/D 21% Gulf Coast N. America Egypt NatGas 22 MBOE/D 171 MBOE/D 34% Canada 128 MBOE/D…
  7. UBS Global Oil and Gas Conference – Apache Corp – slide 7
    Strength in Financial Discipline Debt / Cash Flow 3.50 3.25 3.00 2.75 2.50 2.25 2.00 1.75 1.50 1.25 1.00 0.75 0.50 0.25 0.00 A B C D E F G H APA I Peers displayed: Anadarko, Chesapeake, Devon, Encana, EOG, Newfield, Noble, Occidental…
  8. UBS Global Oil and Gas Conference – Apache Corp – slide 8
    1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 MBOE/D, Net 2004 2005 2006 2007 2008 2009 2010 Result: Profitable Long Term Growth 9 Q1 2011 0 100 200 300 400 500 600 700 800
  9. UBS Global Oil and Gas Conference – Apache Corp – slide 9
    Result: Profitable Long Term Growth Production per Share 7.0% Growth (CAGR) APA 6.0% During Last 2 Years 5.0% 4.0% 3.0% Peers 2.0% 1.0% 0.0% 1.0% 2.0% 0 5 10 15 20 25 30 35 Cash Flow per BOE (Q1 2011) Peers displayed:…
  10. UBS Global Oil and Gas Conference – Apache Corp – slide 10
    Apache in 2011 1317% production growth expected Updated capital program: 8.1BN +8% from initial 7.5BN allocation Remains below expected cash flow generation Strengthening balance sheet further Building 2012+ inventory Remain…
  11. UBS Global Oil and Gas Conference – Apache Corp – slide 11
    2012+ Inventory: Value of a Rich Portfolio Permian CBP Horizontals Deepwater Heidelberg Australia Julimar/Wheatstone Eunice Area NM Exploration Zola Deadwood GC Onshore Gulf Coast Onshore Exploration Spraberry Canada Enhanced Oil…
  12. UBS Global Oil and Gas Conference – Apache Corp – slide 12
    Apache in 20122015 Robust multiyear growth inventory, based on: Projects in progress Inventory currently identified in key plays 201215 inventory perspective: Annual production growth potential of 612% Average associated capital of…
  13. UBS Global Oil and Gas Conference – Apache Corp – slide 13
    Permian 2 industry player New Mexico 3 MM gross acres, 84 MBOE/D net Strong free cash flow generator (2011: investing 55% of projected lease level income) Diverse asset base, Texas exposure to every play Leading horizontal…
  14. UBS Global Oil and Gas Conference – Apache Corp – slide 14
    Central US Midcontinent Oklahoma 1 MM gross acres, mostly held production 42 MBOE/D net Granite Wash growth driver: 2 industry player Texas 200 K gross acres 810+ rig program to 2015 Unlocking oil plays: Apache Hogshooter Cherokee…
  15. UBS Global Oil and Gas Conference – Apache Corp – slide 15
    Gulf of Mexico MS AL FL Louisiana Texas 20 mi Gulf of Mexico Apache 1 position in the GOM Shelf: Entry position in GOM deepwater: 695 OCS blocks, 111 MBOE/D net Major discoveries: Lucius, Heidelberg High ROR, quick…
  16. UBS Global Oil and Gas Conference – Apache Corp – slide 16
    Canada 8MM gross acres across plays Apache High graded via purchase of BPs Canada upstream business 128 MBOE/D net Alberta Saskatchewan Liquidsdriven running room: Enhanced Oil Recovery Cardium Viking Glauconite Edmonton…
  17. UBS Global Oil and Gas Conference – Apache Corp – slide 17
    Egypt Alexandria Cairo Apache 20 mi 11 MM gross acres, 171 MBOE/D net Multibasin, stacked pay portfolio Doubled production 20052010 Expansion of gas facilities Target: +100 MBOE/D gross by 2015 New Plays:…
  18. UBS Global Oil and Gas Conference – Apache Corp – slide 18
    Australia Apache 3 acreage holder in Carnarvon Basin (6.7MM gross acres) Indian Ocean Prolific area Similar size to GOM, 5% of wells 65 MBOE/D net (reflects cyclone+facility downtime) Explorationdriven project pipeline +50…
  19. UBS Global Oil and Gas Conference – Apache Corp – slide 19
    North Sea Apache Forties Field: 30 mi Largest oil field in UKCS Norway Doubled acquisition P1 reserves Beat production trend by 100% Q1 best well in 20 years: 11 MB/D Large, refreshed drilling inventory North Sea 5060 MBO/D…
  20. UBS Global Oil and Gas Conference – Apache Corp – slide 20
    Argentina Chile Paraguay Leading N. American E&P company Multibasin portfolio: Neuquen, TDF, Cuyo, Noroeste Brazil Pacific Argentina Fundamental price upside (/MCF): Ocean Uruguay Built footprint 1 Buenos Aires Latest contracts…
  21. UBS Global Oil and Gas Conference – Apache Corp – slide 21
    Asia LNG Wheatstone LNG (Australia) Kitimat LNG (Canada Pacific) Two LNG projects to monetize world class assets: Access to premium prices Significant resource base with long runway Steady longterm cash flow 22
  22. UBS Global Oil and Gas Conference – Apache Corp – slide 22
    Our Key Messages Focus unchanged: rate of return Upside from 2010 transactions already tangible Robust multiyear growth inventory: The value of a rich portfolio: we have many ways to win Economics by play and project outlined in…

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