Diversified and balanced portfolio

Hydrocarbon province	Product, market

Apache’s balanced portfolio approach reduces the risk of being over leveraged to any one country, geologic play or commodity. Historically, Apache has delivered consistent financial performance relative to its peers.  Successfully generating predictable earnings and strong cash flow throughout commodity cycles is a testament to this strategy.

As indicated above, Apache’s production is evenly balanced with 49 percent of its equivalent production oil and natural gas liquids and 51 percent natural gas. Over half of our liquids production is tied to Brent crude prices. North American natural gas comprises 33 percent of total equivalent production with 18 percent of total equivalent production tied to international natural gas prices.

We produce from 10 different operating regions in six different countries. No single region or country represents more than 20 percent of the company. Within those regions, Apache has exposure to a variety of geologic basins and plays without being overleveraged to any single play type, commodity or activity.

Worldwide Apache has many ways to win and many places to invest capital. With a broad international portfolio of opportunities, Apache has the luxury of being able to shift capital investment to those countries, areas, or play types that yield the highest margins and growth opportunities.

Balanced activity exposure

Apache's broad portfolio of opportunities