BARCLAYS CEO ENERGY POWER CONFERENCE September 5, 2012
APACHE DELIVERS PROFITABLE GROWTH Production per Share (BOE/share) Reserves per Share (BOE/share) 0.75 9.00 0.60 7.50 6.00 0.45 4.50 0.30 3.00 0.15 1.50 0.00 0.00 Cash Flow per Share (/share) Adjusted Earnings per Share…
APACHE NOW: REALIZING UPSIDE Grow through the drill bit Leverage expanded U.S. onshore position 67K locations, 9.2 BN BOE Multi-year outlook: 6-9% production growth per share, with upside Living within our means Global…
LEADING US ONSHORE DRILLER U.S. Onshore Operated Rigs As of 24 August 2012: 60 116 50 40 30 20 10 0 A APA B C D E F G H I J K L M N O 5 Source: GHS Oilfield Services & Equipment Research 08/24/2012. Includes all…
PERMIAN OIL A KEY APACHE GROWTH AREA New Mexico Texas 1.8 MM net acre position Central Basin Platform + N/NW Shelf (+200% last 2 years) Midland Basin 104.5 Net MBOE/D in Q2 Yeso (+14% production YOY) Wolfcamp Shale Cline APA…
PERMIAN OIL: DELIVERING ASSET UPSIDE Net MBOE/D 110 40 Operated Rigs (Bar) (Line) 100 Mariner Closing 35 90 80 BP Closing 30 APA Permian 70 Region 25 Established 60 20 50 40 15 30 10 20 5 10 0 0 2010 2011 2012E 7
MIDLAND BASIN DEADWOOD: IMPACTIVE GROWTH Oil (Gross MBBL/D) Gas (Gross MMCF/D) 16 80 Apache Operated 14 70 12 60 10 50 8 40 6 30 3rd Party Operated 4 20 2 10 0 0 Aggressive growth: production up 7x to 21MBOE/D in 21…
WOLFCAMP SHALE ROBUST RESULTS, 971 FUTURE LOCATIONS TO DRILL Peak IP 30d Avg EUR Lateral Frac Well Status (BOE/D) (BOE/D) (MBOE) (ft.) Stages Scott Sugg 1H Prod 1255 726 682 7,322 23 Bennie 1H Prod 588 492 553 6,486 19 Clinch 1H…
ADVANCING OTHER HORIZONTAL PLAYS LATEST RESULTS Lower Cline shale Barracuda 45 2H: New Mexico Texas 662 BOPD, 0.9 MMCFD Central Basin Platform APA inventory: + N/NW Shelf Barracuda 45 2H Three Bar SU 101H Midland Basin Lower…
MIDCONTINENT LIQUIDS PLAYS A KEY APACHE GROWTH AREA 1.1 million net acre position APA acreage (+61% in 2012) Oklahoma 55.2 Net MBOE/D in Q2 12 (+42% production YOY) Texas APA operated rigs: January 6 Now 24 Evaluated…
PORTFOLIO STRATEGY BALANCE, OPPORTUNITY, FLEXIBILITY US onshore liquids drive current growth inventory, but APA has global flexibility: 2011 Production 2016E Production 41% U.S. Onshore 21% 12% U.S. Offshore 17% 12% Canada…
NORTH SEA: EXPLOITATION UPSIDE LATEST BERYL AREA DRILLING RESULTS B72: 11,600 BOPD, 13.0 MMCFD B73Y B73Y: 8,161 BOPD, 5.9 MMCFD 8,161 BOPD Nevis, Ness 5.9 MMCFD APA North Sea well delivery capacity: B72 90 net MBOE/D now Beryl…
GLOBAL EXPLORATION: MAJOR UPSIDE Liard Basin 48 net TCF discovery Williston Basin (Apache = 100%) New 300K net acre position 1 BN net BO potential Mississippian Lime Cook Inlet New 580K net acre position 1.3 BN net 2 BN net BO…
LIARD BASIN DISCOVERY 48 TCF MULTIPLIES APACHES EXPORT RESOURCE POTENTIAL Liard Horn Apache has unlocked and secured River the highest quality shale reservoir in North America British Columbia Alberta APA controls the heart of…
UPCOMING EXPLORATION EVENTS Mississippian Lime First well spud August 15 Initial play results in Q4 Williston Basin First well spud August 30 Initial play results in Q4 Kenya Deepwater Mbawa-1 spud August 10 Prospect results in…
MISSISSIPPIAN LIME DRILLING STARTS ON APAS 580K NET ACRES 580,000 net acres secured in Kansas, Nebraska Nebraska First mover in extension of Kansas horizontal oil plays Low entry cost Multiple stacked oil plays: Mississippian…
WILLISTON BASIN DRILLING STARTS ON APAS 320K NET ACRES 320,000 net acres secured First mover in extension of Bakken oil resource Low entry cost Multiple stacked oil plays Potential for 1,900 play locations, 1 BN BO play net…
VISIBLE, COMPANY-MOVING UPSIDE BN BOE, Net Current Further Upside New Ventures Running room of 30.0 oil projects APAs 8 other global regions Net resources identified: Liard: 48 TCF discovery Other exploration: 25.0 GOM Deepwater,…
APACHE NOW: REALIZING UPSIDE Grow through the drill bit Leverage expanded U.S. onshore position 67K locations, 9.2 BN BOE Multi-year outlook: 6-9% production growth per share, with upside Living within our means Global…
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