BARCLAYS CEO ENERGY- POWER CONFERENCE SEPTEMBER 3, 2014
TODAYS KEY MESSAGES Apache is transforming into a leading North American E&P company characterized by an extensive resource base, strong production growth and a continued focus on rate of return We are delivering profitable…
DECISIVE STEPS TAKEN IN 2013-14 Focusing portfolio Monetized GOM Shelf Exited Argentina Entered Egypt JV with Sinopec through sale of 1/3 interest Divested deepwater GOM development projects High-grading Canada portfolio…
TRANSFORMATION TO NORTH AMERICA North American Onshore International / GOM MBOE/D MBOE/D 353 350 343 350 300 300 41% 44% 250 250 207 200 184 200 38% 150 150 66% 59% 100 100 56% 62% 50 50 34% 0 0 2009 Q2 2014 2Q 2009…
TRANSFORMATION TO NORTH AMERICA 2009 Production 2Q 2014 Production 8% 8% 34% N.A. 9% 62% N.A. 13% 7% Onshore Onshore 11% 16% 10% 14% 3% Gulf of Gulf of Mexico 20% 2% Mexico 14% 13% 28% 19% 5% 537 MBOE/D 550…
EXTENSIVE NORTH AMERICAN RESOURCE BASE Proved Reserves Total Resources 1.7 BBOE 14.0 BBOE Canada 21% Central Canada Central GC Onshore 38% 24% 18% GC Onshore 4% Permian 54% 40% Permian 7 Note: Proved reserves…
APACHE NORTH AMERICA TODAY Extensive resource base of 14 BN BOE (12% booked) as of YE 2013 Delivering top quartile N.A. onshore liquids growth 2014 liquids growth target of 15-18% Achieved 18% YoY liquids growth in 2Q Continuing…
PERMIAN: LEADING ACREAGE POSITION 3.3 MM GROSS / 1.7 MM NET ACRES New Mexico CBP + N/NW Shelf Texas 850,000 Net Acres Midland Basin 635,000 Net Acres Delaware Basin 215,000 Net Acres Midland APA acreage APA…
PERMIAN: APA RIG ACTIVITY BY BASIN MOST ACTIVE DRILLER IN THE PERMIAN WITH 43 RIGS (28 HZ) of Rigs 16 15 14 Doubled Wolfcamp Hz rig count 13 12 over the past 12 months 11 Wolfcamp 10 9 8 7 6 5 4 3 2 1 0 Midland…
PERMIAN: TRACK RECORD OF GROWTH MBOE/D 180 Production of 155 MBOE/D in 2Q 2014, up 26% year-over-year 160 155 Added more than 88 MBOE/D 140 since 2010 127 120 Strong growth driven by the 108 Wolfcamp and Bone Springs 100 92…
PERMIAN: 2ND LARGEST PRODUCTION BASE MBOE/D 250 217 200 155 150 108 100 95 92 66 50 29 0 A APA B C D E F 12 Note: 2Q 2014 production. Peer companies include: Cimarex, Concho, Devon, Laredo, Occidental and Pioneer.
APACHE: PERMIAN SCALE AND GROWTH Company 2Q 14 MBOE/D 2Q 14 YOY Growth A 217 3% Apache 155 26% B 108 18% C 95 25% D 92 15% E 66 23% F 29 13% 13 Note: Peer companies include: Cimarex, Concho, Devon, Laredo, Occidental and…
CENTRAL: MULTIPLE OPPORTUNITIES FOR LONG TERM GROWTH MBOE/D 2Q 14 production 90 MBOE/D 100 91 90 90 Reducing rig count to address 1H 14 operational issues 80 70 Progressing new oil play in TX 61 Panhandle Canyon Lime 60 (2 Hz…
CENTRAL: CANYON LIME 100,000 CONTIGUOUS NET ACRES Oil resource play (80% liquids) with two potential landing zones Over 300 sq miles of 3D seismic Repeatable opportunity with Bivins East 41-1H* more than 400 locations in First…
EAST TX EAGLE FORD: HIGH IMPACT OIL GROWTH 511,000 GROSS / 203,000 NET ACRES Repeatable resource play Ferguson Crossing Robertson McCullough- Wineman 2H Brazos Riverside 30-day IP: 1,455 BOE/D Over 300 sq miles of new 3D seismic…
EAST TX EAGLE FORD: BUFFALO RANCH/REVEILLE FOCUSED PAD DEVELOPMENT 6,100 net acres (40 additional well locations) Focused on driving down costs Optimizing completions and testing 500 foot down spacing Currently fracing 6 well…
CANADA: LIQUIDS-RICH OPPORTUNITIES CURRENT ACREAGE1: 68 MBOE/D in 2Q 2014 1 3.8 million gross acres BC 2.8 million net acres AB Currently running 8 rigs SK Kaybob (Duvernay & Bluesky) (2 in Duvernay, 1 in Montney) New…
APACHE NORTH AMERICA TODAY Extensive resource base of 14 BN BOE (12% booked) as of YE 2013 Delivering top quartile N.A. onshore liquids growth 2014 liquids growth target of 15-18% Achieved 18% YoY liquids growth in 2Q Continuing…
FOCUSING ON NORTH AMERICAN ONSHORE Exiting the Wheatstone and Kitimat LNG projects Evaluating opportunities for our international portfolio Strategic transaction opportunities Separation through capital markets transaction 20
FOCUSING ON NORTH AMERICAN ONSHORE Exiting the Wheatstone and Kitimat LNG projects WHEATSTONE LNG (Australia) KITIMAT LNG (Canada) 8.9 MMTPA LNG; APA = 13% 10 MMTPA LNG; APA = 50% First production 4Q 2016 100 TCF recoverable…
HIGH QUALITY INTERNATIONAL PORTFOLIO Leading position in each region 1 oil producer in Egypt 1 gas supplier in Western Australia (7/MCF market) Most efficient operator in the U.K. North Sea Differentiated performance High…
EGYPT: 1 OIL PRODUCER CURRENT LEASEHOLD: 351 MBOE/D gross production In 2Q 6.8 MM gross acres 2014 Shushan-Khalda Matruh 24 Concessions Ridge Alamein Averaged 26 rigs and drilled 67 gross wells in 2Q 2014 Gindi / Beni Suef…
AUSTRALIA: NEAR-TERM OIL GROWTH WITH EXPLORATION POTENTIAL CURRENT LEASEHOLD: Phoenix South 50 MBOE/D production in 2Q 2014 18 million gross acres 9 million net acres Averaged 2 drilling rigs and drilled 2 gross wells Balnaves…
AUSTRALIA: CANNING BASIN DISCOVERY OPENS NEW OIL BASIN FOR EXPLORATION APA position in basin of 5 MM gross WA-435-P Phoenix South-1 acres Phoenix South-1 Discovery Encountered four discrete oil columns, each ranging between…
NORTH SEA: MOST EFFICIENT OIL OPERATOR CURRENT LEASEHOLD: Nevis & Ness 72 MBOE/D production in 2Q 2014, 1.3 MM gross acres 0.6 MM net acres Brent-linked oil portfolio (85%) Nevis South North Sea Maclure BERYL Forties Alpha…
TODAYS KEY MESSAGES Apache is transforming into a leading North American E&P company characterized by an extensive resource base, strong production growth and a continued focus on rate of return We are delivering profitable…
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