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SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp

Apache Corp · May 30, 2012 · 22 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. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 1
    SANFORD BERNSTEINS 28TH ANNUAL STRATEGIC DECISIONS CONFERENCE G. STEVEN FARRIS CHAIRMAN AND CEO MAY 30, 2012
  2. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 2
    APACHE: PROGRESS REPORT 3
  3. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 3
    1ST QUARTER 2012 RESULTS Production: 769 MBOE/D net Up 7% YOY* (50% liquids) Earnings: 1.2 BN** Up 4% YOY Cash Flow: 2.6 BN** Up 18% YOY Reserves: 3 BN BOE Alltime high (46% liquids) Reserves are yearend 2011. * Adjusted…
  4. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 4
    PROFITABLE LONGTERM GROWTH MBOE/D, Net 850 2012: 800 713% Growth 750 700 650 600 550 500 450 400 350 300 250 200 150 100 50 0 5 CAGR = 19922011. Projected 2012 Production growth = 5095 MBOE/D based on continuing…
  5. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 5
    APACHE HAS NEVER BEEN STRONGER 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) Earnings per Share (/share) *…
  6. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 6
    COMPETITIVE PER SHARE RESULTS Earnings per Share Cash Flow per Share % CAGR, 2006 2011 % CAGR, 2006 2011 12% 15% 8% 10% 4% 5% 0% NM 0% 4% 5% 8% 10% 12% 15% A APA B C D E A APA B C D E P/CF: 4.7 2.8 4.5 4.3 3.7 3.3 7…
  7. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 7
    MAINTAINING FINANCIAL DISCIPLINE 2011 Net Debt / EBITDA 5.0 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 APA Source: Goldman Sachs. Peer companies in group displayed: Anadarko, Berry, Bill Barrett, Cabot, Chesapeake, Devon,…
  8. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 8
    INDEPENDENT THINKING + RETURNS FOCUS Pursued our path of profitable, balanced growth while the industry charged into North America gas Positioned to grow, capture opportunities 1Q12 Production+Cordillera* 1Q12 Revenue By Index…
  9. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 9
    INCREASING EMPHASIS ON NORTH AMERICA MBOE/D 450 434 400 Canada 357 350 310 Argentina 300 276 GOM Deepwater Argentina North Sea 250 Canada GOM Shelf North Sea 200 GOM Deepwater Australia GC Onshore Australia 150 GOM Shelf…
  10. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 10
    BENEFITING FROM RISING INTERNATIONAL GAS PRICES Realized Gas Price International Gas Revenue /MCF MM 7.00 350 6.00 300 North America 5.00 250 4.00 200 International 150 3.00 2.00 100 1.00 50 0.00 0 11
  11. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 11
    ACTIVE DRILLING ACROSS THE PORTFOLIO 1Q11 Cur. Region Rigs Rigs Highlight Permian 24 31 Doubled acreage in 2 years to 3 MM acres Active program with 600+ wells in 2012 Central 12 25 Closed Anadarko Basin Cordillera acquisition…
  12. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 12
    PERMIAN GROWTH CONTINUES New Mexico Texas 3MM acres: Central Basin Platform + Doubled over last 24 months N/NW Shelf 6 rigs (4 hz.) since Region established Midland Basin 31 operated rigs drilling now Yeso, 3 rigs 18 rigs…
  13. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 13
    CENTRAL REGION EXPANSION 1.5MM acres in Anadarko Cleveland 1 rigs Basin: Marmaton +50% in 2012 (Cordillera) 2 rigs Tonkawa 25 APA rigs drilling now 4 rigs Leading position in liquids play fairway: Granite Wash, Tonkawa,…
  14. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 14
    DEEPWATER ACTIVITY PICKS UP PACE Three projects with 2012 IP Wide Berth onstream April 2012 Mandy and Bushwood to come 2012 exploration focus on Mandy proven plays Recently spud Parmer exploration prospect Wide Berth 60 MMBOE…
  15. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 15
    NORTH SEA REGION Closed Mobil North Sea acquisition for Apaches first major North Sea expansion Beryl field and related properties Beryl/Brae pipeline and SAGE gas plant Scott/Telford nonop interest Continued rampup: 1Q12…
  16. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 16
    APACHE EGYPT Cairo Heba300 Apache Operated Apache Development Lease 11 MM gross acres, 162 MBOE/D (net) 20052010: doubled gross production 2011: 12% gross production growth 17
  17. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 17
    APACHE EGYPT: ACQUISITION SUCCESS BBL/D Production in Khalda II Acquired Leases MMCF/D Cairo Heba300 Apache Operated Apache Development Lease Apache Acquired from BP Success from BP Egypt acquisition: Oil production up…
  18. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 18
    2012 EXPLORATION: OPENING NEW PLAYS Alaska Cook Inlet New Canada Oil/liquids Plays 2 wells Developing within our 6 MM acres Seismic campaign North Sea Tryfan, Seagull N. Canyon Wash Egypt Stratigraphic Egypt Paleozoic Pursuit…
  19. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 19
    COOK INLET ALASKA OVERVIEW Apache has access to over 1 million net acres in the Cook Inlet 1.4 billion barrels oil recoverable undiscovered potential in basin Average field size is 238 mmboe Multiple untested structures with…
  20. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 20
    KENYA BLOCK L8 Kenya Large (1.25 MM acre), high potential frontier block located in the emerging play fairways of the East African Margin Apace Operates with 50% WI Targeting Oil play Multiple plays, targets Mbawa 1 Spud: 3Q…
  21. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 21
    ARGENTINA SHALE POSITION 900,000 net acres in Vaca Muerta; 450,000 net acres in liquids window In 201011, Apache led new gas development in the basin: Gas Plus: 89 MMCF/D at 4.94/MCF Q3Q4 2012: oil window drilling 5+…
  22. SANFORD BERNSTEIN DECISION CONFERENCE – Apache Corp – slide 22
    APACHE PROGRESS REPORT: SUMMARY MESSAGE Focus unchanged: Rate of return Portfolio balance Balance sheet strength Profitable long term growth Advantaged by financial strength, unique balance Robust multiyear growth inventory…

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