earnings release operations supplement - Apache Corporation

2013 1st quarter

EARNINGS RELEASE OPERATIONS SUPPLEMENT

APACHE FIRST-QUARTER 2013 EARNINGS RELEASE OPERATIONS SUPPLEMENT

TABLE OF CONTENTS Overview ............................................................................................................................................................................... 2

NORTH AMERICA .............................................................................................................................................................. 5

Permian......................................................................................................................................................................... 5

Central .......................................................................................................................................................................... 8

Gulf Coast Onshore ..................................................................................................................................................... 11

Gulf of Mexico Shelf.................................................................................................................................................... 12

Gulf of Mexico Deepwater .......................................................................................................................................... 13

Canada ........................................................................................................................................................................ 14

INTERNATIONAL ............................................................................................................................................................. 18

Egypt ........................................................................................................................................................................... 18

Australia ...................................................................................................................................................................... 20

North Sea .................................................................................................................................................................... 22

Argentina .................................................................................................................................................................... 24

1


NOTICE TO INVESTORS This operations supplement contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act

of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and, whenever possible, are identified by

use of the words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects” and similar references to

future periods. Any matters that are not historical facts are forward-looking and, accordingly, involve estimates, assumptions, risks

and uncertainties, including, without limitation, our assumptions about the market prices of oil, natural gas, NGLs and other

products or services, our commodity hedging arrangements, the supply and demand for oil, natural gas, NGLs and other products or

services, production and reserve levels, drilling risks, economic and competitive conditions, the availability of capital resources,

capital expenditure and other contractual obligations, and our ability to complete, test and produce the wells identified in this

supplement. Because such statements involve risks and uncertainties, Apache’s actual results and performance may differ

materially from the results expressed or implied by the forward-looking statements contained in this Supplement. Other important

factors that could cause actual results to differ materially from expected results are described in “Risk Factors” in our most recently

filed Annual Report on Form 10-K, recent Quarterly Reports on Form 10-Q and amendments thereto, available on our Web site and

in our other public filings and press releases. There is no assurance that Apache's expectations will be realized, and readers are

cautioned not to place undue reliance on forward looking statements, which speak only as of the date hereof. Unless otherwise

required by law, we assume no duty to update these statements as of any future date.

Cautionary Note to Investors: The United States Securities and Exchange Commission ("SEC") permits oil and gas companies, in their

filings with the SEC, to disclose only proved, probable, and possible reserves that meet the SEC's definitions for such terms. Apache

may use certain terms in this operational update supplement, such as “resources,” “potential resources,” “resource potential,”

“reserves potential,” and other similar terms that the SEC guidelines strictly prohibit Apache from including in filings with the SEC.

Such terms do not take into account the certainty of resource recovery, which is contingent on exploration success, technical

improvements in drilling access, commerciality and other factors, and are therefore not indicative of expected future resource

recovery and should not be relied upon. Investors are urged to consider carefully the disclosure in Apache’s Annual Report on Form

10-K for the fiscal year ended December 31, 2012, available from Apache at www.apachecorp.com or by writing Apache at: 2000

Post Oak Blvd., Suite 100, Houston, Texas 77056 (Attn: Corporate Secretary). You can also obtain this report from the SEC by calling

1-800-SEC-0330 or from the SEC's website at www.sec.gov.

Certain information provided in this supplement includes financial measurements that are not required by, or presented in

accordance with, generally accepted accounting principles (GAAP), including these measures: adjusted earnings, pre-tax margin, and

cash from operations. These non-GAAP measures should not be considered as alternatives to GAAP measures, such as net income or

cash from operating activities, and may be calculated differently from, and therefore may not be comparable to, similarly titled

measures used at other companies. Reconciliation to the most directly comparable GAAP financial measure has been provided.

None of the information contained in this document has been audited by any independent auditor. This supplemental document is

prepared as a convenience for securities analysts and investors and may be useful as a reference tool. Apache intends to continue to

publish this supplement in conjunction with our quarterly earnings release, but may elect to modify the format or discontinue

publication at any time, without notice to securities analysts or investors.

2


Overview North America onshore drilling drives liquids production growth 6 percent

over the fourth quarter 2012 and 45 percent over the first quarter 2012

Apache averaged 119 rigs world-wide during the first quarter, with 79 onshore North American rigs.

The company drilled 402 gross development wells with 355, or nearly 90 percent, located onshore North America,

at a 99 percent success rate.

North American onshore regions, which include Permian, Central, Gulf Coast Onshore and Canada, collectively

drove liquids production growth 6 percent over the fourth quarter of 2012 (24 percent on an annualized basis).

The Permian and Central regions were main drivers of North America onshore liquids growth.

These two regions drilled 263 gross development wells, or 65 percent of the total.

Permian and Central combined to grow liquids production 10,000 barrels per day over the fourth quarter of

2012, or 9 percent, to 129 Mbbls per day, which represented nearly 31 percent of total world-wide liquids

production.

Combined production from the Permian and Central regions was nearly 206 Mboe per day, or over 26 percent of

total company production.

Total world-wide net daily production of oil, natural gas, and natural gas liquids averaged 781.8 Mboe per day in

the first quarter with liquids production comprising 53 percent of the total.

APACHE WORLDWIDE OPERATIONS

Argentina Australia

Egypt

North SeaCanada

Central

Permian

GOM Shelf

Gulf Coast Onshore

GOMDeepwater

3


45%

37%

11%7%

25%28%

29%

18%

FIRST-QUARTER PRODUCTION BY REGION

782 Mboe/d

North America International Liquids Natural Gas

Australia Argentina

Canada

Permian

Central

GOM Shelf

GOM DW GC Onshore

North Sea

Egypt

FIRST-QUARTER PRODUCTION BY PRODUCT

782 Mboe/d

FIRST-QUARTER REVENUE BY PRODUCT

$4.2 Billion

International Liquids

North American

Liquids

North American Gas

International Gas

International Liquids $1.9 Bn

North American

Liquids $1.5 Bn

North American Gas

$0.5 Bn

International Gas

$0.3 Bn

11%

15%

4%

14%12%

2%

19%

10%

7% 6%

N.A. Onshore

44%

4


1Q

2012

1Q

2013

Inc

(Dec)

% Inc

(Dec)

Total Company 769 782 13 1.6%

Total Company - Egypt Without Tax 714 737 23 3.3%

Total Excluding Egypt 607 630 23 3.7%

North Sea 79 79 0 0.0%

% Liquids 49% 53%

GOM Offshore 119 105 -14 -11.8%

Other International Regions 116 99 -17 -14.2%

U.S. Onshore Gas 73 95 22 29.6%

44.6%N.A. Onshore Liquids 114 165 51

-18.4%Canada Gas 106 87 -19

0

100

200

300

400

500

600

700

800

900

1Q 2012 1Q 2013

MBOE/D

38

86

99

119

0

20

40

60

80

100

120

140

160

180

200

220

1Q 2012 1Q 2013

MBOE/D

63

88

16

40

0

20

40

60

80

100

120

140

160

180

200

220

1Q 2012 1Q 2013

MBBLS/D

1Q 2012 VERSUS 1Q 2013 PRODUCTION COMPARSION

CENTRAL AND PERMIAN PRODUCTION

44.6%

18.4%

3.7%

38.7%

1.6% 769

607

782

630

137

205

79

128 Permian

Central Oil

Liquids

NGLs

58% 62% % Liquids

Permian 20%

Central 129%

Total 50%

% Increase

Oil 40%

NGLs 148%

Total Liquids 62%

% Increase

114

165 187

259 293

346

129%

20%

40%

148%

713 737 3.3%

50%

62%

5


NORTH AMERICA Permian First-quarter 2013 production in the Permian Region averaged 119,435

Boe/d (74 percent liquids), increasing 20 percent over the first quarter of

2012.

Production was affected by unplanned facility downtime resulting in

deferred production of approximately 3,000 Boe/d, triple that of the same

quarter in 2012.

For the quarter, the Permian Region averaged 37 drilling rigs and drilled

187 gross (149 net) wells.

Drilling at Deadwood continued to lead the region in production growth with horizontal drilling programs in the

Wolfcamp (Irion County), Wichita Albany (Andrews County) and Yeso (New Mexico) plays ramping up with higher

growth rates.

Midland Basin

Cline Shale

Wolfcamp Shale

Delaware Basin

Central Basin Platform North & North West Shelf

Yeso

PERMIAN KEY STATS

First-Quarter 2013

Q1 Production: 119,435 Boe/d

Q1 Wells: 187 wells, 149 net

Q1 Rigs: Avg 37 rigs

APACHE PERMIAN REGION ACREAGE AND KEY PLAYS

Miles 50

Apache Acreage

6


Permian (Continued) MIDLAND BASIN VERTICAL Apache has an estimated 1.1 million gross acres (625,000 net) in the Midland Basin Vertical play area with an

estimated 1.7 Bboe of resource potential from over 17,800 identified drilling locations.

During the first quarter, Apache continued its vertical program targeting Wolfwood and Fusselman in its

Deadwood area, averaging 10 drilling rigs.

The Wolfwood program is expanding to the north and south with 20-acre spacing being evaluated.

The new Deadwood plant was processing 57 million cubic feet per day (MMcf/d) and gas deliveries will be

expanded to accommodate projected growth from our 2013 drilling program.

NORTHWEST SHELF - YESO Apache has approximately 105,000 gross acres (70,000 net) in the Yeso play with 1,800 identified locations and an

estimated 108 MMboe of resource potential.

During the first quarter of 2013 approximately 24 wells were completed and producing.

The Yeso drilling program, which included late 2012 wells that were brought on line in the first quarter, resulted in

1,200 Bo/d and 1.8 MMcf/d gross production for March.

*Less than 30-day IP

PERMIAN WELL HIGHLIGHTS

First-Quarter 2013

PLAY/TARGET WELL NAME TVD LATERAL IP

Midland Basin Vertical - Fusselman Barracuda 45 #5 10,125’ N/A 338 Boe/d*

Weaver 23 #2 10,544’ N/A 253 Boe/d

Midland Basin Vertical – Wolfberry Augusta Barrow 1401 11,500’ N/A 230 Bo/d

Midland Basin – Wolfcamp/Strawn Cleveland 5 #2 10,842’ N/A 339 Boe/d

Redtail 48 #1 10,420’ N/A 326 Boe/d*

Midland Basin – Wolfcamp Shale Bennie 4342 H81M 7,000’ 4,300’ 600 Boe/d*

Midland Basin – Cline Shale Barracuda 45 #3H 9,320’ 4,450’ 457 Boe/d

Barracuda 45 #4H 9,250’ 4,560’ 511 Boe/d

Central Basin Platform – Clearfork Seth Campbell 70 5,429’ N/A 384 Boe/d

Seth Campbell 71 5,396’ N/A 467 Boe/d

Central Basin Platform – Wichita Albany / ABO Three Bar SU 107HR 7,050’ 4,002’ 814 Boe/d

Three Bar SU 109H 7,040’ 5,189’ 1,110 Boe/d

Northwest Shelf – Yeso A State #56 5,965’ N/A 210 Boe/d

Delaware Basin – 2nd

Bone Springs Chaparrel 89-1H 9,400’ 5,078’ 617 Boe/d

7


Permian (Continued)

WOLFCAMP SHALE

Apache has an estimated 450,000 gross acres (345,000 net) prospective for Wolfcamp Shale development with an

estimated 347 MMboe of resource potential from 971 identified drilling locations.

First-quarter 2013 activity was focused on the Barnhart area (Irion County) where horizontal rigs drilled Upper and

Middle Wolfcamp laterals and a single vertical rig drilled delineation and test wells.

Early test results encouragingly show that shorter one-mile laterals targeting the Wolfcamp shale can be drilled

and completed more quickly and at lower well costs than previous laterals.

The shorter lateral was used to complete the Bennie H81M well, which tested at 577 Bo/d and 925 Mcf/d.

CLINE SHALE Apache has an estimated 650,000 gross acres (520,000 net) prospective for Cline Shale development with an

estimated 642 MMboe of resource potential from 2,300 identified drilling locations.

Using one of the largest Cline Shale petrophysical databases in the industry, Apache has increased its Lower Cline

Shale inventory and continues to improve drilling results and well performance.

Apache completed an additional 11 horizontal wells during the first quarter targeting the Lower Cline in the

Deadwood area and 28 additional wells are planned for the remainder of the year.

Currently, a total of 13 wells are producing at a combined rate of 1,540 Bo/d and 2.3 MMcf/d.

CENTRAL BASIN PLATFORM (CBP) Apache has an estimated 1.7 million gross acres (780,000 net) in the CBP with an estimated 690 MMboe of

resource potential from nearly 9,800 identified drilling locations.

Horizontal activity targeting the Wichita Albany / ABO interval at the Three Bar field in Andrews County resulted in

two more successful well tests during the first quarter.

By the end of the first quarter, the Three Bar Shallow Unit has produced 327 MBbls of oil from six completed wells.

Production facility construction gained momentum and now 12 additional wells are planned for 2013.

DELAWARE BASIN Apache has an estimated 609,000 gross acres (287,000 net), which are prospective for the Wolfbone and

Avalon/Bone Springs formations with an estimated 284 MMboe of resource potential from over 1,800 identified

drilling locations.

Apache drilled four vertical Wolfbone exploratory wells in Pecos County and is currently testing three of the four

wells in various Bone Spring and Wolfcamp zones across the leasehold.

Several exploratory and development wells are planned for this area in 2013 and a horizontal program is planned

for the second half of the year.

8


Central First-quarter 2013 production in the Central Region was 86,215 Boe/d, up

9 percent over the fourth quarter of 2012 and up 129 percent over the

first quarter of 2012.

Total liquids production increased 28 percent to 40 Mbbl/d (46 percent of

total production) over the fourth quarter of 2012 and up 301 percent over

first quarter of 2012.

For the quarter, the Central Region averaged 25 drilling rigs and drilled 78

gross (43 net) wells.

Apache continues to work numerous plays across its 1.9 million gross acreage position focusing on the liquids-rich

Granite Wash and the oily Tonkawa, Marmaton, Cottage Grove, Cleveland and Canyon Wash plays.

*Less than 30-day IP

CENTRAL WELL HIGHLIGHTS

First-Quarter 2013

PLAY/TARGET WELL NAME COUNTY TVD IP

Cottage Grove Simmons 3-30H Beckham 10,400’ 1,915 Bo/d, 1,747 Mcf/d*

Stiles #17-4H Wheeler 10,660’ 1,222 Bo/d, 1,536 Mcf/d

Tonkawa

Oak 2-16HD Ellis 8,519’ 719 Bo/d, 1,800 Mcf/d

Inselman 3-10H Ellis 8,595’ 610 Bo/d, 1,575 Mcf/d

CR 2-17H Ellis 8,338’ 555 Bo/d, 2,450 Mcf/d

Granite Wash

Jill 43 #4-54H Wheeler 13,500’ 506 Bo/d, 10,739 Mcf/d

Jill 54 #6-54H

Wheeler 13,525’ 416 Bo/d, 7,989 Mcf/d

Abraham 3206H

Hemphill 11,200’ 150 Bo/d, 5,500 Mcf/d*

Cleveland MeKeel 226 #4H Ochiltree 7,963’ 417 Bo/d, 415 Mcf/d

Alexander 66 #1HC Hemphill 9,113’ 458 Bo/d, 496 Mcf/d

Canyon Granite Wash Boys Ranch 116 #3 Oldham 9,700’ 395 Bo/d, 332 Mcf/d

CENTRAL KEY STATS

First-Quarter 2013




9


Central (Continued)

GRANITE WASH Apache holds approximately 720,000 gross (350,000 net) acres prospective for the Granite Wash with an

estimated resource potential of 4.5 Bboe from 22,800 drilling locations.

First-quarter 2013 production in the Granite Wash was 28,129 Boe/d (44 percent liquids).

During the quarter, Apache drilled and completed 25 gross (19 net) Granite Wash wells, for a total of 495 gross

(217 net) wells now on production in the play.

TONKAWA Apache holds an estimated 634,000 gross (310,000 net) acres prospective for the Tonkawa with an estimated

resource potential of 202 MMboe from 2,800 drilling locations.

First-quarter 2013 production in the Tonkawa was 8,330 Boe/d (74 percent liquids).

During the quarter, Apache drilled and completed 22 gross (9 net) Tonkawa wells, for a total of 380 gross (156 net)

wells now on production in the play.

Canyon Wash

Granite WashTonkawa

Marmaton

Cleveland

APA Acreage

APACHE CENTRAL REGION ACREAGE AND KEY PLAYS

10


Central (Continued)

MARMATON Apache holds an estimated 662,000 gross (512,000 net) acres in the Marmaton with an estimated resource

potential of 161 MMboe from 1,593 drilling locations.

First-quarter 2013 production in the Marmaton was 12,042 Boe/d (47 percent liquids).

During the quarter, Apache drilled and completed six gross (two net) Marmaton wells, for a total of 123 gross (56

net) wells now on production in the play.

CLEVELAND Apache holds an estimated 527,000 gross (268,000 net) acres in the oil-rich Cleveland play with an estimated

resource potential of 195 MMboe from 2,302 drilling locations.

First-quarter 2013 production in the Cleveland was 3,328 Boe/d (68 percent total liquids / 53 percent oil).

During the quarter, Apache drilled and completed 12 gross (6 net) Cleveland wells, for a total of 188 gross (72 net)

wells now on production in the play.

COTTAGE GROVE First-quarter 2013 production in the Cottage Grove was 3,512 Boe/d (83 percent liquids / 71 percent oil).

During the quarter, Apache drilled and completed seven gross (four net) Cottage Grove wells, for a total of 36

gross (19 net) wells now on production in the play.

CANYON WASH Apache holds an estimated 141,000 gross (93,000 net) acres prospective for the Canyon Wash in the Bivins Ranch

area (Whittenburg Basin) with an estimated 101 MMboe of resource potential from 1,016 drilling locations.

First-quarter 2013 production in the Canyon Wash was 3,846 Boe/d (69 percent liquids / 59 percent oil).

During the quarter, Apache drilled and completed six gross (three net) Canyon Wash wells, for a total of 19 gross

(11 net) wells now on production in the play.

11


Gulf Coast Onshore First-quarter 2013 production in the Gulf Coast Onshore Region was

29,859 Boe/d, essentially flat compared to the fourth quarter of 2012.

Gas production increased from the fourth quarter of 2012 due to

increasing gross gas sales at Atchafalaya Bay Field from 140 MMcf/d to

155 MMcf/d. This was partially offset by compressor downtime at Main

Pass 69 and freezing issues in various fields.

During the quarter, Apache averaged three drilling rigs in the Region

drilling a total of 10 gross (nine net) wells with a 90 percent success rate.

GULF COAST ONSHORE WELL HIGHLIGHTS First-Quarter 2013

PLAY/TARGET WELL NAME TD IP

Frio Crook-Chapman 10,965’ 890 Bo/d, 10.3 MMcf/d

J-4 Sand SL 1278 #21 5,357’ 260 Bo/d, 150 Mcf/d

GULF COAST ONSHORE KEY STATS

First-Quarter 2013 Q1 Production: 29,859 Boe/d


Q1 Rigs: Avg 3 rigs

APACHE GULF COAST ONSHORE REGION ACREAGE AND KEY PROJECTS

Golden Meadow

Chapman Ranch

Giddings

Atchafalaya Bay

50 Miles

Apache Acreage

12


Gulf of Mexico Shelf First-quarter 2013 production in the Gulf of Mexico Shelf was 92,024

Boe/d, a 4-percent decline from the fourth quarter of 2012.

During the quarter, Apache averaged five rigs and drilled a total of six

operated wells.

Apache and Energy XXI formed a joint venture over approximately 100

blocks in the Main Pass Concession (APA 75-percent working interest)

which will target sub-salt exploration / exploitation.

Wide Azimuth and Short Cable seismic acquisitions will enhance imaging to aid the exploration / exploitation of the

new joint venture sub-salt play.

GULF OF MEXICO SHELF HIGHLIGHTS First-Quarter 2013

PLAY/TARGET WELL NAME TD IP

OE Sand GI 54 A-1ST 15,959’ 1,050 Bo/d, 1.4 MMcf/d

NS Sand GI 47 O-7ST 12,292’ 1,225 Bo/d, 1.2 MMcf/d

GOM SHELF KEY STATS First-Quarter 2013



Q1 Rigs: Avg 5 rigs

APACHE GULF OF MEXICO SHELF REGION LEASEHOLDS AND KEY PROJECTS

Main Pass Area

Ship Shoal Eugene Island

50 Miles

Apache Leasehold

13


Gulf of Mexico Deepwater First-quarter 2013 production in the Gulf of Mexico Deepwater was

13,311 Boe/d, a 26 percent decline from the fourth quarter of 2012.

The Apache-operated Staurolite well, targeting the Lower Pleistocene oil

objective, spud during mid-March and is expected to reach total depth of

21,000 feet during the second quarter of 2013.

Apache was the apparent high bidder on five blocks during the March

2013 OCS Sale – 227.

LUCIUS DEVELOPMENT During the first quarter, a development well was drilled and tested on the eastern flank of the field.

Two additional development wells are scheduled to be drilled in 2013 before the rig will begin completion

activities in the field.

First production is anticipated in the second half of 2014.

HEIDELBERG During the first quarter, fabrication of the spar began, which will be an 80,000 Bo/d Lucius look-a-like facility.

Initial production is expected in 2016.

GOM DW KEY STATS First-Quarter 2013


Q1 Wells: 1 well, <1 net

Q1 Rigs: Avg 0.2 rigs

APACHE GULF OF MEXICO DEEPWATER REGION LEASEHOLDS AND KEY PROJECTS

Apache Leasehold

Heidelberg

Lucius

Staurolite

San Marcos Bushwood

50 Miles

14


Canada First-quarter 2013 production in Canada was 110,368 Boe/d, down from the

fourth quarter of 2012 as continued decreases in dry natural gas drilling

resulted in natural gas declines. Natural gas production decreased from 550

MMcf/d to 519 MMcf/d in the first quarter of 2013 compared to the fourth

quarter of 2012.

Deferred production totaled 4,100 Boe/d for the first quarter due to

unplanned third-party downtime and other third-party infrastructure issues.

The region continued its transition to more oil and liquids-rich gas developments.

During the first quarter, the region operated an average of 11 drilling rigs and drilled 82 gross (66 net wells).

DUNVEGAN Apache continued to build on its success developing the Dunvegan oil program. The region drilled 10 wells (seven

operated and three non-operated) in the first quarter. This play targets significant oil accumulations.

Through a detailed understanding of the geology, Apache has successfully high graded its operated drill locations,

delivering test rates averaging almost 200 Bo/d.

Wells in this play are currently expected to deliver an average of 160 MBoe reserves per well with 79 percent

derived from liquids.

CANADA KEY STATS First-Quarter 2013




APACHE CANADA REGION ACREAGE AND KEY BASINS

150 Miles

Apache Acreage

15


Canada (Continued)

BLUESKY (LIQUIDS-RICH HORIZONTAL PROGRAM) In the first quarter of 2013, Apache drilled nine wells (eight operated and one non-operated) with production rates

ranging from 1.5 to 8.0 MMcf/d. The average liquid yield for the play was 45 Bbls/MMcf with 44 percent from

condensate.

Bluesky has made a significant impact in the Kaybob area which saw overall production grow by approximately 50

percent over the past two years.

VIKING In the Brownfield area, Apache drilled 3 horizontal Viking wells which came on production in the first quarter 2013.

Production for the first-quarter horizontal program was approximately 300 Bo/d with all wells expected to be on

production in July after the spring break up.

Apache also drilled 12 vertical wells with seven of these wells currently on production. The four remaining wells

will be tied-in to either primary or secondary zones.

CANADA WELL HIGHLIGHTS First-Quarter 2013

PLAY/TARGET WELL NAME IP

Dunvegan

16-34-060-20W5 166 Bo/d, 0.2 MMcf/d

4-28-60-20W5 190 Bo/d, 0.4 MMcf/d

03-09-61-18W5 319 Bo/d, 0.2 MMcf/d

Bluesky 04-21-057-19W5 1,700 Boe/d (Test Rate)

08-07-057-19W5 81 Bo/d, 3.0 MMcf/d

Sparky 02-23-36-05W4 176 Boe/d (post clean-up)

01-23-36-05W4 100 Boe/d (post clean-up)

16


Canada (Continued)

SPARKY In total 12 horizontal wells were drilled in the first quarter 2013 with eight of these currently on production.

Production, which was drilled in late 2012, commenced at a six well pad in South Glazier and initial production is in

line with expectations.

Apache has recently expanded the play to the east and anticipates further expansion to the west in late 2014.

HOUSE MOUNTAIN WATERFLOOD In the first quarter of 2013, eight producers and two injectors were drilled at House Mountain (Phase 4 Program).

Total Phase 4 Program gross production of 1,395 Bo/d with cumulative to date production of 76,504 Bbls.

VIRGINIA HILLS NON-UNIT WATERFLOOD During the first quarter of 2013, Apache drilled seven horizontal wells of which five have been completed, two

producing and two more on production at the end of April.

Cumulative production to date is 7,625 Bbls of oil with production of 254 Bo/d gross.

17


Canada (Continued)

KITIMAT LNG PROJECT (50% APA) On Feb. 11, 2013, Apache announced that the transaction with Chevron Canada Ltd. had closed with Apache

Canada receiving net proceeds of $405 million.

Under the terms of the transaction, Apache will operate the upstream development, and Chevron will operate the

plant and pipeline.

During the first quarter, Kitimat Upstream maintained production and continued active drilling resulting in two

tenure wells, one in Liard and one in Horn River, with both wells encountering expected reservoir quality.

A 102-square-mile 3D seismic program was completed in Horn River during the first quarter.

Apache also acquired a special extension for a third year in a row on approximately 57,000 acres for 13 expiring

drilling licenses in the north Liard Basin.

At 54 ̊ ̊ north, Kitimat is one of North America’s closest ports to Asian markets.

Kitimat-Tokyo3,988 nm, 10 daysQatar-Tokyo6,500 nm, 16 days

0 100

KM

Liard

18


EGYPT KEY STATS First-Quarter 2013

Q1 Gross Production: 351,613 Boe/d

Q1 Net Production:

With Tax: 152,250 Boe/d

% of Gross: 43.3%

Without Tax: 107,614 Boe/d

% of Gross: 30.6%



INTERNATIONAL Egypt In Egypt, Apache’s operations continue unabated. The region averaged 26 rigs and reported quarterly average

gross oil production of 199,174 Bo/d and gross gas production of 915 MMcf/d, for a total of 351,613 Boe/d.

Total gross production was down 2 percent from the fourth quarter of 2012, which is the primary reason why

Apache’s net production decreased by 9,208 Boe/d.

Across the region, Apache drilled a total of 36 gross (33 net) wells in the first quarter, including five exploration

wells and one appraisal well drilled to total depth. Three wells were drilled in the Faghur Basin, two along the

Khalda Ridge, and one in the Abu Gharadig Basin (four of

these wells encountered logged pay).

Khalda area properties had significant new discoveries which

included the Amoun NE-1X and SIWA L-1X wells. At the end

of the first quarter, six exploration wells were still drilling

including two in the Faghur Basin, two in the Khalda Ridge

area, and two in the Abu Gharadig Basin.

Hydra early gas production was achieved on Jan. 25 with the

opening of the Hydra 5 well to the Bapetco-operated Obayied

gas plant. The Hydra Full Field Conceptual Study was

completed in early February. The development plan is for a

phased approach to allow accelerated implementation.

In Qarun, Apache redesigned casing strings to help improve completion techniques and time, improve artificial lift

recovery, and provide a better down-hole working environment.

EGYPT WELL HIGHLIGHTS First-Quarter 2013

PLAY/TARGET WELL NAME TVD IP

KHAT-2AB AMOUN NE1 13,800’ 1,490 Bo/d

M. & L. A/ R G KARAMA-15 7,900’ 1,589 Bo/d

A/RG

WD33-6X 12,500’ 1,380 Bo/d

MRZK 107 6,400’ 871 Bo/d

AG 110 11,300’ 910 Bo/d

SAFA NTRK-G-1X 15,460’ 1,522 Bo/d, 14.8 MMcf/d

PEPI 10 14,500’ 1,276 Bo/d

19


Egypt (Continued)

EGYPT PRODUCTION DETAIL

1Q 2013 1Q 2012

Oil (MBbls/d) Gas (Mcf/d) Oil (MBbls/d) Gas (Mcf/d)

Gross Production 199,174 914,635 215,131 910,002

Net Production With Tax 91,315 365,612 99,490 376,067

% of Gross 46% 40% 46% 41%

Net Production Without Tax 63,919 262,171 64,465 251,437

% of Gross 32% 29% 30% 28%

APACHE EGYPT REGION ACREAGE AND KEY BASINS

Faghur

ShushanMatruh

Alamein

Ghindi

Beni SuefAbu Gharadig

20


APACHE AUSTRALIA REGION ACREAGE AND KEY PROJECTS

Australia First-quarter 2013 production was 55,734 Boe/d, down 8 percent from the

fourth quarter of 2012 due to three tropical cyclones which impacted

production and created reconnection issues on the Ningaloo Vision FPSO

following cyclone Narelle. Total deferred production was approximately

3,500 Boe/d.

During the first quarter, the region operated an average of three drilling

rigs and drilled two gross wells.

The Stag-48H horizontal oil development well was drilled from the Stag oil platform and logs indicate that the well

intersected a total of 1,549 feet of high resistivity oil pay. The well results validated the interpretation of

hydrocarbon distribution based on both the reservoir engineering simulation model and the Stag OBC seismic

inversion model.

MACEDON The BHP-operated Macedon Project is reported to be over 94 percent complete and on schedule for first gas late

in the third quarter of 2013.

Apache expects net daily production of 35 MMcf/d.

AUSTRALIA KEY STATS First-Quarter 2013



Q1 Rigs: Avg 3 rigs

40 Miles

Apache Acreage

21


Australia (Continued)

BALNAVES The Armada Claire FPSO is currently in the shipyard undergoing conversion and refurbishment.

All contracts have been executed, and the project remains on schedule for 2014 first production.

JULIMAR (WHEATSTONE LNG) During the quarter, Apache and its partners signed a long-term sales and purchase agreement with Chubu Electric

Power Company to deliver 1 million tons per year of LNG from the Wheatstone project.

The Wheatstone LNG project has over 80 percent of its offtake secured under long-term sales contracts.

AUSTRALIA WELL HIGHLIGHTS First-Quarter 2013

PLAY/TARGET WELL NAME TD LATERAL IP

M. Australis Stag 48 2,236’ 1,549’ 2,400 Bo/d (gross)

22


APACHE NORTH SEA REGION ACREAGE AND KEY PROJECTS

North Sea First-quarter 2013 production in the North Sea was 79,128 Boe/d, a record

production rate for the North Sea Region.

During the quarter, the region averaged four rigs and completed six wells

(including workovers).

Included within the drilling program was Forties Echo platform

development well 22/6a-E40Z, which was successfully drilled into the

uppermost sand in the Main Echo Channel and encountered 74 meters

measured depth net oil pay along a high-angle completion hole. Initial 30 day average production was 4,290 Bo/d.

On April 24, 2013, the Tonto-1 came on stream at 10,346

Bo/d after being drilled to a total depth of 6,325 feet

followed by a horizontal completion. The first Tonto Field

development well was drilled from the Forties Bravo

platform and encountered 62 feet of net oil pay in an

Eocene aged sandstone reservoir that overlies Forties

Field.

The Tonto Field qualifies for the UK small field tax

allowance with initial production to commence in second

quarter 2013.

In November, Apache was awarded 11 new licenses,

effective January 2013, covering 19 full or partial blocks

from the UK Department of Energy & Climate Change.

Included in these licenses is all of the available acreage

around the Beryl field plus two key licenses near the

Forties field.

NORTH SEA KEY STATS First-Quarter 2013


Q1 Wells Completed: 6 wells

Q1 Rigs: Avg 4 rigs

Beryl Buckland

Nevis & Ness

Complexes

Skene Maclure

SAGE Gas Plant

SAGE Pipeline

Scott & Telford

Forties Bacchus

Aviat Nelson

Seagull

North Sea

23


NORTH SEA WELL HIGHLIGHTS First-Quarter 2013

PLAY/TARGET WELL NAME IP

Forties FES13 (22/6A-E40z) 4,290 Bo/d

FES11a 1,500 Bo/d

24


APACHE ARGENTINA REGION ACREAGE AND KEY BASINS

Argentina First-quarter 2013 production in Argentina was 43,495 Boe/d, down 7

percent from the fourth quarter of 2012, due to natural production

decline and lower development drilling activity.

During the quarter, the region averaged two rigs and drilled two net

wells.

Apache focused on recompletions in the Neuquén basin (Lajas, Lotena

and Centenario reservoirs) and increased lift capacity jobs in several

fields in both Austral and Neuquén basins.

NEUQUÉN BASIN Under the Gas Plus program of the Neuquén Basin, two

wells reached total depth and one was completed in the

first quarter 2013.

During the first quarter, Apache averaged 93 MMcf/d of

Gas Plus volume at $4.95 per Mcf.

Also during the quarter, Apache drilled two exploration

wells and participated in two non-operated wells

targeting Vaca Muerta shale oil and wet gas trends.

The region is currently working on a strategy for a second

phase of exploration activity for all of Apache’s Vaca

Muerta exploration and exploitation acreage.

Apache holds approximately 1.3 million net acres in the

Vaca Muerta shale window, of which 586,000 net acres

are in the oil window of the play.

ARGENTINA KEY STATS First-Quarter 2013



Q1 Rigs: Avg 2 rigs

1,000 KMS

Basin Limits

Apache Acreage

earnings release operations supplement - Apache Corporation

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