Investor Presentaiton

RAMPING A LARGE-SCALE GREENFIELD PLAY Comparison of Feb. '17 and Feb. '18 Alpine High Outlook ■■ Previous 4Q'18 production target shifted to 2H 2019 ■~37% fewer wells online at year-end 2017 than previously expected, 42 versus 70 ■■~23% fewer new wells planned in 2018, resulting in 50 fewer wells producing at year-end 2018, approximately 140 versus 190 ➤ Reduced 2018 D&C and facilities budget by ~$140 million and average rig count by 1.5 ➤ Increased average well cost assumption from $5.7 million to $6.2 million for cost inflation ■Replaced higher Boe/d dry gas wells with higher margin, lower Boe/d wet gas wells. Trading gas Boe's for oil and NGL barrels. Apache 19

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