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NORTH SEA OIL EXPANSION – Apache Corp

Apache Corp · Sep 21, 2011 · 12 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. NORTH SEA OIL EXPANSION – Apache Corp – slide 1
    North Sea Oil Expansion September 21, 2011
  2. NORTH SEA OIL EXPANSION – Apache Corp – slide 2
    Highlights Acquisition of Mobil North Sea LLC Grows APAs North Sea business materially: Production up 54% P1 Reserves up 44% Exploitation, technology opportunity set: Excellent fit with Apaches proven capabilities Forties: more…
  3. NORTH SEA OIL EXPANSION – Apache Corp – slide 3
    Transaction Summary Transaction value: 1.75 billion To be reduced by cash flow from effective date to closing Effective date: January 1, 2011 Current performance: Net Production: 28,602 BOE/D 1H 2011 (66% oil and liquids) P1…
  4. NORTH SEA OIL EXPANSION – Apache Corp – slide 4
    Apaches North Sea Production Assets Forties Area Beryl Area Scott/Telford Area Nevis, Ness Bacchus Beryl Forties Scott Nevis South Nelson Buckland Telford 5 miles Skene Oil field 5 miles Condensate field 5 miles Maclure 100…
  5. NORTH SEA OIL EXPANSION – Apache Corp – slide 5
    Other North Sea Assets Other Mobil North Sea LLC Assets Exploration blocks: Apache WI Operator Mobil North Sea LLC Beryl/Brae Gas Pipeline 25% APA SAGE Gas Plant 25% APA 50 miles Benbecula Exploration Block 30% Shell Benbecula…
  6. NORTH SEA OIL EXPANSION – Apache Corp – slide 6
    Mobil North Sea: Asset Evaluation Legacy major assets with significant drilling potential High production efficiency Recent upgrades: ready for new drilling, workovers Quality oil reservoirs: high initial rates, strong RORs…
  7. NORTH SEA OIL EXPANSION – Apache Corp – slide 7
    Current Production Outlook Net MBOE/D, Mobil North Sea LLC 140 Historical PDP Forecast 120 Nonoperated 100 80 Operated 60 40 20 0 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006…
  8. NORTH SEA OIL EXPANSION – Apache Corp – slide 8
    Apaches Track Record Forties Field Production Reserves Acquired (2003): 145 MM BOE P1 MB/D APACHE: 118% above trend 75 Production (20032010): 70 65 161 MM BOE 60 55 Current Reserves (YE 2010): 50 155 MM BOE P1 45 40 2011…
  9. NORTH SEA OIL EXPANSION – Apache Corp – slide 9
    Apaches Track Record Forties Target Portfolio 2003 Forties Target Portfolio 2011 38 targets 106 drilled since 2003 81 remaining Apache drilled wells currently produce 50,000 B/D 10
  10. NORTH SEA OIL EXPANSION – Apache Corp – slide 10
    Positioned to Leverage Technology APA results in Forties enabled by latest geophysics Forties Field: CrossSection Displayed Below technology, inhouse expertise: New fieldwide seismic surveys in 2005, 2010 (4D) Continuous…
  11. NORTH SEA OIL EXPANSION – Apache Corp – slide 11
    Apache North Sea: Profile Apache Mobil Combined North Sea North Sea LLC Profile Net Production (1H 2011) Oil+NGLs MBBL/D 52.2 18.9 71.1 Gas MMCF/D 2.1 58.4 60.6 MBOE/D 52.6 28.6 81.2 % Liquids 99% 66% 88% % of Apache 7% 11% P1…
  12. NORTH SEA OIL EXPANSION – Apache Corp – slide 12
    Portfolio Balance and Reach Pro Forma: APA+Mobil North Sea Hydrocarbon Province Product, Market Argentina Permian 46 MBOE/D 88 MBOE/D Central N. America 43 MBOE/D Liquids 20% Egypt Gulf Coast N. America 165 MBOE/D 24 MBOE/D…

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