Apa Corporation · NASDAQ:APA
Apa — Apache — Corporate Update (April 2020)
9 slides from Apa's corporate update, Apr 9, 2020
Slide 1: Investor Update April 2020
Investor Update April 2020
Slide 2: Notice to Investors
Notice to Investors Certain statements in this presentation contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 including, without limitation, expectations, beliefs, plans, and objectives regardin
Slide 3: Apache is Well-Positioned to Withstand COVID-19 and a Market Downturn
Apache is Well-Positioned to Withstand COVID-19 and a Market Downturn Our experienced management team, diverse asset portfolio and new organizational structure are already enabling Apache to be more agile and respond quickly to changing commodity price environments Disciplined Financial Strategy Div
Slide 4: Decisive Actions Support our Strategic and Near-Term Priorities
Decisive Actions Support our Strategic and Near-Term Priorities Decisive Actions Taken Reduced 2020 upstream capital investment by ~$1.2 - $1.4 billion, year-over-year (-54% at midpoint of guidance) Capital allocation to projects with positive return potential and longer cycle times Permian activity
Slide 5: Recent Debt Financing Efforts
Recent Debt Financing Efforts $MM (1) Amount Outstanding excludes Altus, and is before unamortized discount and debt issuance costs. Successful debt management exercises in 2018 and 2019 Absolute debt paydown of $363MM in the same time period Through these two efforts, eliminated $1.6B of debt matur
Slide 6: Relentless Drive to Continually Enhance our Compensation Practices
Relentless Drive to Continually Enhance our Compensation Practices For 2020 we have introduced significant improvements to our compensation practices that address areas of considerable shareholder interest and consensus 40% Combined weighting of Annual Returns & Free Cash Flow Value-Based Measures E
Slide 7: MD&C Committee Review of Executive Compensation Program
The MD&C Committee has reviewed our executive compensation program, which is heavily weighted toward equity, and has determined that the current oil price environment has had a significant impact on management’s compensation As such, the MD&C Committee has decided that further compensation decisions
Slide 8: Substantial Progress on Organizational Re-Design
Substantial Progress on Organizational Re-Design EXPLORATION DEVELOPMENT OPERATIONS SUPPORT CFO Legal Commercial Accounting IT HR Administration Deliver more dynamic planning and capital allocation Improve collaboration and alignment Simplify the organization Enable value-adding technology adoption
Slide 9: Continuing to Operate Within Our Framework for Long-Term Value Creation
Continuing to Operate Within Our Framework for Long-Term Value Creation BALANCED PORTFOLIO APPROACH U.S. / International: Relatively Even Capital Split Onshore / Offshore: Short, Medium and Long-Cycle Exploration / Development: Conventional & Unconventional OPERATIONAL FLEXIBILITY Actively Manage Ca