Investor Presentaiton

RAMPING A LARGE-SCALE GREENFIELD PLAY 4Q '18 Outlook Today Versus a Year Ago ■Reservoir and well performance continues to be very strong Proven oil potential ■Some volume ramp deferred due to less capital and fewer wells in 2017/2018 Deliberate, strategic changes to the program ➤ Shift to multi-well pads / patterns, midstream integration, shifting some dry gas wells to wet gas ➤ Increased investment in science, testing and delineation, which deferred some development ■ Other factors reflected in current outlook Apache ➤ Cost inflation higher today ➤ Surface use and right-of-way agreement delays; equipment delivery and construction delays 18

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