BARCLAYS CAPITAL CEO ENERGY CONFERENCE September 11, 2013
TRACK RECORD OF LONG-TERM GROWTH THE EVOLUTION OF APACHES PORTFOLIO N.A. Onshore Liquids MBOE/D, Net Expansion 850 800 Continued International 750 Expansion 700 650 600 550 500 First 450 International Entry 400 350 300…
THE EVOLUTION OF APACHES PORTFOLIO LIFE CYCLES Beginning End % Time Frame Life Cycle Description (MBOE/D) (MBOE/D) Increase 1993 to 1997 First International Entry 86 170 +98% - Egypt, Canada and Australia 1999 to 2003 Continued…
OPTIMIZING THE CURRENT LIFE CYCLE PORTFOLIO REBALANCING: EXPAND NORTH AMERICA ONSHORE LIQUIDS 2009 Production by Region 2Q 13 Pro Forma Production by Region* 583 MBOE/D 630 MBOE/D Australia Argentina Australia Argentina Central…
REMAIN FOCUSED ON TOP TIER RETURNS THREE YEARS ENDED 12/31/2012 ROACE: 3 Year Average ROE: 3 Year Average 16% 16% 14% 14% 12% 12% 10% 10% 8% 8% 6% 6% 4% 4% 2% 2% 0% 0% OXY A APA APA NBL C DVN D APC E EOG F A…
2ND QUARTER 2013 RESULTS Net income: 1.0 BN Cash flow: 2.6 BN* N.A. Onshore liquids growth: 42% increase YoY Net daily production: 790 MBOE/D 54% Liquids 45% N.A. Onshore 27% Permian + Central * Cash from operations before…
PORTFOLIO OF LEADING POSITIONS Growing through the drillbit: 1 driller onshore U.S. (nearly 80 rigs) 1 in Permian Basin (45 rigs/20 Hz) 2 in Anadarko Basin (31 rigs / 30 Hz) 1 Independent operator in UK North Sea (Brent oil) 1…
2013 ROADMAP TO VALUE CREATION Accelerate North America onshore drilling 25%+ N.A. onshore liquids growth Advance major projects (including LNG) 2.2B capex for project development (1.2B for LNG) 700MM for projects with 2014 IP (25…
2013 ROADMAP TO VALUE CREATION Rebalance portfolio for consistent, profitable growth 7 billion asset sales and monetizations announced to date Pay down debt (financial flexibility) Board authorization to repurchase up to 30 MM…
ACCELERATION OF N.A. LIQUIDS GROWTH LIQUIDS (NET BARRELS/DAY) NET BOE/DAY 160,000 250,000 Permian Central Permian Central 136 214 140,000 200,000 120,000 100,000 150,000 80,000 100,000 89 60,000 39 40,000 50,000…
RESOURCE BASE: VISIBLE, PREDICTABLE UPSIDE* PREDOMINANTLY ONSHORE NORTH AMERICAN LIQUIDS Proved Reserves + Proved Reserves Permian / Central Resources 2.9 BBOE 11.7 BBOE Canada Argentina Australia Canada North Sea 5%…
PERMIAN BASIN RAMPING UP HORIZONTAL DEVELOPMENT New Mexico Texas Resource Summary* Acreage: Gross 3.5 MM Net 1.6 MM Net Resources 3.8 BBOE Midland Identified Locations 34,518 2012 Highlights 108 MBOE/D Net Production 20 mi…
PERMIAN OIL: DELIVERING PROFITABLE GROWTH Avg. Op. MBOE/D Rigs (Line) 2013 Plans (Bar) 45 E&D Capital 2.4B 120 40 Average Rigs 34 100 Mariner 35 Closing Gross Wells 700 Total / 180 Hz 80 BP Closing 30 Horizontal Oil Wolfcamp…
WOLFCAMP SHALE: BUILDING ON 2012 SUCCESS Apache Wolfcamp Shale Summary Wolfcamp APA Gross Acres (000) 450 Shale APA Net Acres (000) 345 Horizontal Wells Drilled 2012 21 Horizontal Wells Planned 2013 90+ Drilling Locations 971…
BARNHART WOLFCAMP SHALE PRODUCTION GROWTH: UP 5X TO 11.1 MBOE/D OVER THE PAST YEAR Scott Sugg Lease: 46 Wells 29 Producers 25,000 45 Daily Prod: 6,400 BO + 8.6 MMCFG 18,815 MCFD 40 20,000 35 Well Count 30 BOPD/MCFD…
CLINE SHALE: EXPANDING HZ PROGRAM Apache Cline Shale Summary APA Gross Acres (000) 650 APA Net Acres (000) 520 Horizontal Wells Drilled 2012 6 Horizontal Wells Planned 2013 30+ Deadwood area Drilling Locations 2,321 Inventory Net…
CLINE SHALE LEADING GLASSCOCK CO. CLINE PLAYER Deadwood Horizontal Cline Average Daily Production Marlin 900 Barracuda 45 2H Marlin 47 2H Lee 800 Squire Type Curve* 700 600 Red Snapper 500 BOEPD Hammerhead Huitt 400…
CENTRAL REGION HZ DRILLING FUELING EXPLOSIVE GROWTH Kansas Resource Summary* Acreage: Gross 1.9 MM Net 1.0 MM Texas Anadarko Basin Net Resources 5.4 BBOE Identified Locations 32,546 Canyon Wash 2012 Highlights Oklahoma 79…
CENTRAL REGION: CONSISTENT, PROFITABLE GROWTH MBOE/D Avg. Op (Bar) Rigs (Line) 2013 Plans 30 E&D Capital 1.4B 90 Avg. Rigs 29 (28 Hz) 80 Gross Wells 300 total / 285 Hz 25 Targets Liquids-rich GW, Oily 70 Tonkawa, Marmaton,…
DRIVING DOWN COSTS IN RESOURCE PLAYS Drilling and Completion Costs Focus Reducing drilling days Reducing frac costs Pad drilling Self sourcing Optimizing bit selection Optimizing frac designs Mud programs Synergies from pad drilling…
NORTH SEA: DELIVERING OIL GROWTH Doubled portfolio 2012 (Beryl) 2012 Cash Flow: 1.5B* Nevis & Ness Beryl Complexes 2013 Plans: Buckland 900 MM (drill 27 wells) Maclure Skene New Forties platform SAGE Pipeline Scott &…
EGYPT REGION OPERATIONS CONTINUE UNINTERRUPTED 2012 Highlights Matruh Shushan Gross Production 363 Mboe/d Faghur Alamein Cash Flow 2.7 Bn** Capex 1.1 Bn Ghindi Average Rigs 25 Ghazalat Abu Gharadig Beni Suef Gross Wells…
EGYPT GROSS PRODUCTION OVER TIME MBOE/D 17 years of uninterrupted production growth 375 362 363 350 325 321 300 279 145 150 41% 275 250 132 222 225 117 200 175 93 81 88 150 60 125 47 38 217 213 59% 100 35 189 8 29…
EGYPT NET REVENUE OVER TIME PREDOMINATELY OIL in MM 4,500 Apache 1 Oil Producer in Egypt 4,791 4,554 621 11% 504 4,000 3,500 3,372 495 3,000 2,739 2,553 2,500 507 490 2,012 2,000 4,170 4,050 89% 1,664 404 1,500…
RECENT EGYPT DISCOVERIES CONFIRM OPPORTUNITIES IN WESTERN DESERT 28
AUSTRALIA: WORLD CLASS DEVELOPMENT PIPELINE 2Q 2013 Update Apache Acreage 40 Miles 2Q13 Production 57,147 BOE/D (38% oil) 2Q13 Avg. Rigs 3 70 MBOE/D expected to come online over next 4 years with major projects including:…
LNG DEVELOPMENT: MULTI-DECADE PROJECTS WHEATSTONE LNG (Australia) KITIMAT LNG (Canada) Construction underway First mover in Canada 8.9 MMTPA LNG 10 MMTPA LNG 1.25 BCF/D Phase 1 1.5 BCF/D Phase 1 First cargo 2016 Chevron…
ILLUSTRATIVE WHEATSTONE LNG CASH FLOWS PRELIMINARY PROJECTIONS THROUGH 2021 2017E 2018E 2019E 2020E 2021E Net Production (MBOE/D) 14 30+ MM Estimated Payback Period 4.5 Years 1,250 1,000 750 500 Cumulative 250 Capex…
2013 ROADMAP FOR VALUE GROWTH Accelerate North America onshore liquids growth Advance major projects (including 2 world class LNG hubs) Rigorously drive down costs Continue to grow our dividend Rebalance portfolio for consistent,…
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