Region overview

We have had a continuous presence in Argentina since 2001, which was expanded substantially by two acquisitions in 2006. We currently have operations in the Provinces of Neuquén, Rio Negro, Tierra del Fuego, and Mendoza. We have interests in 33 concessions, exploration permits, and other interests totaling 3.7 million gross acres in three of the main Argentine hydrocarbon basins: Neuquén, Austral and Cuyo. Our concessions have varying expiration dates ranging from three years to over 15 years remaining, subject to potential extensions.

FIRST-QUARTER 2013 UPDATE

• First-quarter 2013 production in Argentina was 43,495 barrels of oil equivalend (Boe) per day, 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 million cubic feet per day (MMcfd) of Gas Plus volume at $4.95 per thousand cubic feet.
• 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.