Apache : Presentation Annual Shareholder

Annual Shareholder Meeting

May 23, 2019

Forward-Looking Statements

Certain statements in this presentation contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 including, without limitation, expectations, beliefs, plans, and objectives regarding anticipated financial and operating results, asset divestitures, estimated reserves, drilling locations, capital expenditures, price estimates, typical well results and well profiles, type curve, and production and operating expense guidance included in this presentation. Any matters that are not historical facts are forward looking and, accordingly, involve estimates, assumptions, risks and uncertainties, including, without limitation, risks, uncertainties, and other factors discussed in our most recently filed Annual Report on Form 10-K, recently filed Quarterly Reports on Form 10-Q, recently filed Current Reports on Form 8-K available on our website, www.apachecorp.com, and in our other public filings and press releases. These forward-looking statements are based on Apache Corporation's (Apache) current expectations, estimates, and projections about the company, its industry, its management's beliefs, and certain assumptions made by management. No assurance can be given that such expectations, estimates, or projections will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results, or other expectations expressed in this presentation, including, Apache's ability to meet its production targets, successfully manage its capital expenditures and to complete, test, and produce the wells and prospects identified in this presentation, to successfully plan, secure necessary government approvals, finance, build, and operate the necessary infrastructure, and to achieve its production and budget expectations on its projects.

Whenever possible, these "forward-looking statements" are identified by words such as "expects," "believes," "anticipates," "projects," "guidance," "outlook," "will," and similar phrases. Because such statements involve risks and uncertainties, Apache's actual results and performance may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Unless legally required, we assume no duty to update these statements as of any future date. However, you should review carefully reports and documents that Apache files periodically with the Securities and Exchange Commission.

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 presentation, such as "resource," "resource potential," "net resource potential," "potential resource," "resource base," "identified resources," "potential net recoverable," "potential reserves," "unbooked resources," "economic resources," "net resources," "undeveloped resource," "net risked resources," "inventory," "upside," 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, 2018 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 may be provided in this presentation that includes financial measurements that are not required by, or presented in accordance with, generally accepted accounting principles (GAAP). These non-GAAP measures should not be considered as alternatives to GAAP measures, such as net income, total debt, or net cash provided by operating activities, and may be calculated differently from, and therefore may not be comparable to, similarly titled measures used at other companies. For a reconciliation to the most directly comparable GAAP financial measures, please refer to Apache's first quarter 2019 earnings release and first quarter 2019 Financial & Operational Supplement at www.apachecorp.com.

None of the information contained in this document has been audited by any independent auditor. This presentation is prepared as a convenience for securities analysts and investors and may be useful as a reference tool. Apache may elect to modify the format or discontinue publication at any time, without notice to securities analysts or investors.

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In Memoriam

Raymond Plank

May 29, 1922 - November 8, 2018

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In Memoriam

John Kocur

May 16, 1927 - February 26, 2019

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Apache Transformation

1Q 2015	April 2015	June 2015	September 2016	June 2017	November 2018
CEO / CFO	Canada &	Australia Exit	Announced	Canada Exit	Closed Altus
Announcement	Australia LNG		Alpine High		Midstream
	Exit		Discovery		Transaction

	2014	4Q 2018
Total Production (Reported)	647 Mboe/d	482 Mboe/d
Permian Production	159 Mboe/d	236 Mboe/d
US / Int'l Production Mix (Reported)(1)	45% / 55%	59% / 41%
Oil Production Mix (Reported)(1)	50%	52%
Capital Investment (FY)(2)	$10.7 billion	$3.75 billion
Rig Count	119 rigs	31 rigs	(1)	2014 production includes
Net Debt (Period End)	$10.5 billion	$7.5 billion
(2)	2018 capital investment includes
				Australia and Canada production.
				$3.1 billion for upstream capital
Annual Dividend (Period End)	$1.00/Shr	$1.00/Shr
	Altus capital investment.
				investment and $627 million of

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Vision

Our VISIONis to be the premier exploration and production company, contributing to global progress by helping meet the world's energy needs.

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Delivering Value

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Operational Excellence

		Egypt
UK North Sea

United States

Suriname

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Global Platform for Discovery

Our strategy is to seek high- impact, large scale plays with a relatively low cost of entry.

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Commitment to Safety

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Innovation

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ESG Leadership - Global Sustainability

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Our People, Our Greatest Asset

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President's Award

President's Award

Jon Graham

Diamond Award

Diamond Award

Mark Nygard

Innovation Award

Innovation Award

Braden Bowie

Heart of Apache

Heart of Apache

Mike Grisby

Thank You

The 2019 Annual Shareholder Meeting has come to an end.

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