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EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp

Apache Corp · Aug 14, 2013 · 28 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. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 1
    EXPLORING WHATS POSSIBLE IN THE PERMIAN John Christmann VP, Permian Region August 14, 2013
  2. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 2
    TRACK RECORD OF LONG-TERM GROWTH MBOE/D, Net 850 800 750 700 650 600 550 500 450 400 350 300 250 200 150 100 50 0 2004 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2005 2006 2007 2008…
  3. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 3
    PROFITABLE LONG TERM 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 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012…
  4. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 4
    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 OXY APA C DVN NBL…
  5. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 5
    PORTFOLIO OF LEADING POSITIONS Growing through the drillbit: 1 driller onshore U.S. (over 80 rigs) 1 in Permian Basin (45 rigs/20 Hz) 1 in Anadarko Basin (35 rigs/34 Hz) 1 Independent operator in UK North Sea (Brent oil) 1 Egypt…
  6. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 6
    2013 ROADMAP TO VALUE CREATION Accelerate North America onshore drilling 25%+ NA onshore liquids growth 4.6B capex (55% of E&D total) Drill over 1,000 gross wells Advance major projects (including 2 world class LNG hubs) 2.2B capex…
  7. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 7
    ACCELERATION OF N.A. LIQUIDS GROWTH LIQUIDS (NET BARRELS/DAY) NET BOE/DAY 160,000 250,000 Permian Permian Central 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…
  8. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 8
    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%…
  9. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 9
    APACHE PERMIAN A MAJOR GROWTH BUSINESS UP 18% Q2 12 TO Q2 13 1 most active driller in the basin 2012 Highlights Q2 Production: 123,246 boe/d Production Growth +18% YoY (108 Mboe/d) New Mexico Texas Liquids Growth 25% YoY…
  10. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 10
    ACCELERATING ACTIVITY 6X INVESTMENT, 7X OPERATED RIG COUNT IN 3 YEARS Apache Permian Evolution: 2010 2011 2012 2013E Employees 345 662 816 896 Investment 0.4B 1.2B 2.3B 2.4B Rigs 5 25 32 34 Horizontal Wells 20 40 104 180…
  11. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 11
    PERMIAN BASIN RESOURCES* Net Resources Acreage Identified Locations 3.8 BBOE 3.5 MM gross (1.6 MM net) 34,518 CBP + N/NW Shelf Midland Vertical Locations 9,798 Locations 17,816 Central Basin Platform Net MMBOE 691 North & North West…
  12. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 12
    APACHE HORIZONTAL PLAY ACTIVITY 2010-13 Midland Deadwood Shale Plays Drilled and Proved (11) Nine New Plays Planned for 2013 13
  13. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 13
    MIDLAND BASIN MULTI-PLAY GROWTH ENGINE Leonard Lime APA acreage Midland Vertical Target Cline Shale Target Midland Basin Leonard Wolfcamp Shale Target Cline Shale Leonard Upper Spraberry Wolfcamp Shale Lower Spraberry…
  14. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 14
    DEADWOOD VERTICAL PROGRAM Wolfcamp Sawfish 37 2 107 MBOE Squire 9006 305 MBOE New Fusselman L. Wolfcamp locations from 3D Ballenger 2903 192 MBOE seismic in NE and Core Pushing out Core boundaries to northern Deadwood…
  15. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 15
    MIDLAND BASIN DEADWOOD: IMPACTIVE GROWTH APA acreage Aggressive growth: production up 8.2x to 24.6MBOE/D in 31 months of APA as operator Reduced vertical wolf-wood rigs from 16 to 5 due to maximizing plant capacity and meeting all…
  16. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 16
    CLINE SHALE HORIZONTAL EXPLOITATION Apache Acreage in Play Fairway Cline Shale Opportunity Set Gross Acres; (net) 650,000; (520,000) Drilling Inventory 2,321 locations Identified Resources 642 MMBOE net 2013 Planned Hz 30…
  17. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 17
    CLINE SHALE STACKED SHALE HORIZONTAL TARGETS Midland Basin Apache Acreage Type Log Leonard Lime Gamma Ray Organic Indicator Leonard Leonard Reservoir Parameters (Lower Cline) Upper Spraberry Deadwood Shale Prolific,…
  18. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 18
    CLINE SHALE LEADING GLASSCOCK CO. CLINE PLAYER Marlin Deadwood Horizontal Cline Average Daily Production Lee 900 Squire Barracuda 45 2H 800 Marlin 47 2H Red Snapper 700 Type Curve Hammerhead 600 Huitt 500 BOEPD…
  19. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 19
    WOLFCAMP SHALE PROVEN HORIZONTAL OPPORTUNITY Apache Acreage in Play Fairway Acres (000) 450 (345 net) Net MBOE/D (June) 5.3 Wolfcamp 2013 New Wells 44 (26 producing wells) Shale Drilling Inventory 971 Locations 347 MMBOE net…
  20. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 20
    Miller 36 HM 1 Fracd 15 stages Midland Co. 2013 MIDLAND BASIN HZ 4.37 MM Lateral 5032 PROJECTS 931 BOPD 936 MCFPD 6th day flow back Pioneer DL Hutt C 1H 24 hr IP: 1693 BOEPD Peak 20 day: 1510 BOEPD 75% Oil 7380 Lateral…
  21. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 21
    WOLFCAMP SHALE 1400 FEET OF STACKED PAY SECTIONS Midland Basin Apache Acreage Type Log Leonard Lime Gamma Ray Organic Indicator Reservoir Parameters Dean (Upper & Middle Wolfcamp) Leonard Prolific, Permian age organic shales…
  22. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 22
    BARNHART WOLFCAMP/CLINE ACTIVITY & RESOURCE POTENTIAL Basin (West) Shelf (East) Clinch Bennie Scott-Sugg Scott 54 1 Sugg 2829 2H Scott Sugg 1213 6H Scott 13 1 Sugg Strip 6H Acreage Acreage 5051 1H A A Dean Upper Wolfcamp…
  23. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 23
    BARNHART WOLFCAMP SHALE (MIDLAND BASIN) IRION COUNTY Scott Sugg Lease: 29 Producers Daily Prod: 6,400 BO + 8.6 MMCFG 46 Wells 25,000 45 18,815 MCFD 40 20,000 35 Well Count 30 BOPD/MCFD 15,000 14 Wells 25 9,282…
  24. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 24
    BARNHART D&C COST REDUCTION 12.0 10.0 9.6 C D 8.0 7.4 6.8 in MM 6.0 7.0 4.8 4.2 4.0 2.0 2.6 2.6 2.6 0.0 1Q 2012 4Q 2012 2Q 2013 25
  25. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 25
    BARNHART WATER RECYCLING 2013 Cumulative Frac Water 12 Non Potable Water Recycled Water 10 Updated 7/24/2013 8 Cumulative MMBW 6 4 2 0 26
  26. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 26
    CENTRAL BASIN PLATFORM PRODUCTION HEART OF THE BASIN, WITH UPSIDE APA acreage Acres (000) 1,700 (780 net) North Shelf Northwest Shelf NET MBOE/D (June) 65.4 2013 New Wells 253 (204 Vert.+49 Hor.) Drilling Inventory 9,798 Locations…
  27. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 27
    THREE BAR SHALLOW UNIT 102 GR Porosity H Wichita- Albany 10 107 3H HR Upper W-A Landing Zone DRILLING (3) COMPLETING (6) Lower W-A DRILLED, PRODUCING (9) 10 100 Landing Zone 11 4H HR 10 10 Wolfcamp 28 10 9H 3H 1H…
  28. EXPLORING WHATS POSSIBLE IN THE PERMIAN – Apache Corp – slide 28
    EXPANDING OPPORTUNITY DRIVERS: SCALE+BREADTH, TECHNICAL WORK, HORIZONTALS All APA locations are specifically identified and technically supported May 2011: 5000 Locations Opportunity expansion expected: June 2012: 34,518 Locations…

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