Apa Corporation · NASDAQ:APA
Apa — Apache — Shareholder Meeting (May 2018)
12 slides from Apa's shareholder meeting presentation, May 15, 2018
Slide 1: 2018 Annual Meeting Investor Outreach
2018 Annual Meeting Investor Outreach
Slide 2: Forward-looking statements
Forward-looking statements 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 re
Slide 3: Executive Summary
In 2017, we continued to position Apache for long-term, profitable growth in a challenging price environment Drove substantial progress at Alpine High, a world-class resource play that strengthens our position in the Permian Basin Completed strategic exit from Canada and divested other non-core asse
Slide 4: Positioned for success in challenging commodity price environment
Positioned for success in challenging commodity price environment Apache explores for, develops, and produces natural gas, crude oil, and natural gas liquids Our mission is to grow in an innovative, safe, environmentally responsible and profitable manner for the long-term benefit of our shareholders
Slide 5: 2017 performance update: key strategic achievements position Apache for long-term growth
2017 performance update Key strategic achievements position apache for long-term growth PERMIAN-FOCUSED GROWTH & ALPINE HIGH Top-tier Permian Basin position – including world-class resource discovery Alpine High – serves as Apache’s foundation for long-term growth Permian / 56% Other NAM / 12% Int’l
Slide 6: 2017 performance update: strong performance drives long-term value creation
2017 performance update Strong Performance drives long-term value creation 11% / 26% / 15% Outperformed targets in key health, safety, security, and environmental goals (TRIR, DART, and VIR, respectively)1 457 Average liquids and natural gas production across operations Mboe/d 138% 230 MMboe of tota
Slide 7: Best-in-class shareholder engagement program and history of responsiveness
FEBRUARY - APRIL Complete shareholder meetings, meet internally to review feedback received, and consider modification of governance policies and compensation plans Best-in-class Shareholder Engagement program and history of responsiveness Apache continues to prioritize substantive, extensive engage
Slide 8: 2017 Compensation Program Overview
2017 Compensation Program Overview compensation outcomes closely aligned with performance ELEMENT DETAIL Base Salary Target base pay at peer median Base salaries as a whole and individually are reviewed annually Annual Cash Incentive Bonus Achievement based on performance against pre-determined Corp
Slide 9: CEO compensation assessment and base salary aligned with peer median
1. Committee assessed Apache’s strong stock performance and key strategic achievements since our CEO began in the role TSR was 54.5% since the start of 2016 and 16.3% since the beginning of CEO tenure – each top-quartile among 11 peers Confirmed discovery of Alpine High in September 2016 – positioni
Slide 10: 2017 Annual Incentive Plan Results
2017 Annual Incentive Plan Results 2017 Annual Incentive Metrics Weight Achievement Operational (50%) Production of 399 thousand Barrels of Oil Equivalent/Day (MBOED) 10% 381 MBOED Replace 145% of 2017 Production at $10.50 per Barrel through Exploration and Development Adds: 145% of 2017 production
Slide 11: Annual Incentive refinements align with strategy and reflect shareholder feedback
Annual Incentive refinements align with strategy and Reflect shareholder feedback CHANGES IMPLEMENTED MD&C COMMITTEE RATIONALE 2017 Weighted Strategic Goal and Operational Goal components equally at 50% and removed the relative TSR measure – previously weighted at 10% Strengthen management focus on
Slide 12: Board Leadership To Oversee Execution
Board Leadership To Oversee Execution Industry Experience ________________________0__________________________________________________________ All 10 Directors Global Experience ________8__________________________________________________________________________ 8 Directors CEO/ Senior Officer Experie