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AN UPDATE ON NFX – Newfield Exploration Co.

Newfield Exploration Co. · May 15, 2013 · 31 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. AN UPDATE ON NFX – Newfield Exploration Co. – slide 1
    An Update on NFX May 2013
  2. AN UPDATE ON NFX – Newfield Exploration Co. – slide 2
    We are focused on delivering profitable growth from North American resource plays. We have transitioned to a North American focused liquids company. We are pursuing strategic alternatives to maximize the value of our International…
  3. AN UPDATE ON NFX – Newfield Exploration Co. – slide 3
    Executing in all 4 major plays Continuing to deliver improved efficiencies Production on track for 2013-15e plan Pursuing Strategic Options for International businesses NEWFIELD EXPLORATION COMPANY (NYSE:NFX) 3
  4. AN UPDATE ON NFX – Newfield Exploration Co. – slide 4
    30% CAGR in EBITDA (2013-15e) 2013e DOMESTIC CAPEX 80% of Revenues Derived from Liquids 1.4 - 1.5B** Natural Gas 14% 26% NGLs 19% 60 Oil 48-57 25% 16% 43-49 50 37-40 37 40 MMBOE (net) 2014-15e DOMESTIC CAPEX/YR 1.5 -…
  5. AN UPDATE ON NFX – Newfield Exploration Co. – slide 5
    NET AVG. PRODUCTION BY AREA (BOEPD) 4Q12* 1Q13 2Q13e Uinta Cana Williston Eagle Ford Uinta 19,430 21,360 22,000 120 Cana 10,100 14,400 15,000 Williston 10,440 9,800 10,500 100 100 Eagle Ford 5,200 4,830 7,000 TOTAL 45,170 50,390…
  6. AN UPDATE ON NFX – Newfield Exploration Co. – slide 6
    NET AVG. PRODUCTION (BOEPD) OKLAHOMA 4Q12 4Q12 4Q12 1Q13 1Q13 1Q13 Oil NGLs Gas Oil NGLs Gas 2,200 3,200 4,700 3,500 4,600 6,300 HIGHLIGHTS: Our production in the Cana year-to-date is exceeding our original forecasts. Average…
  7. AN UPDATE ON NFX – Newfield Exploration Co. – slide 7
    1Q13: NFX /Gross Perforated Interval (GPI) decreased by 20% from prior period Less than half the cost of Peer average /GPI 2,500 8,761' 9,000' 2,255 8,000' 2,001 2,000 7,000' 6,301' 1,548 6,000' Drill & Case /GPI…
  8. AN UPDATE ON NFX – Newfield Exploration Co. – slide 8
    NET AVG. PRODUCTION (BOEPD) 4Q12 4Q12 4Q12 1Q13 1Q13 1Q13 Oil NGLs Gas Oil NGLs Gas 14,100 610 4,720 15,990 810 4,560 HIGHLIGHTS: Our Uinta Basin production is expected to grow about 10% in 13 and 20% in 14. New refinery capacity…
  9. AN UPDATE ON NFX – Newfield Exploration Co. – slide 9
    Uteland Butte Wasatch Central Basin 1,400 - Oil Saturated Sandstones, Dolomites, & Limestones Uteland Butte XL (3800 Lateral) Greater Monument Butte 10 Miles TF10 640 Section SXL Pilot Pads Horizontal Uteland Butte TF15…
  10. AN UPDATE ON NFX – Newfield Exploration Co. – slide 10
    Uteland Butte Recent 2 Well HZT Wasatch Average (3,200) 10,000 Wasatch 1,400 - Oil Saturated Sandstones, Dolomites, & Limestones Central Basin Greater Monument Butte 1,000 Daily (BOEPD) TF10 10 Miles 550 MBOE Average EUR…
  11. AN UPDATE ON NFX – Newfield Exploration Co. – slide 11
    HIGHLIGHTS: We have taken significant steps recently to identify and capture new markets for our growing oil production in the Uinta Basin. In 2011, we signed two separate agreements for 38,000 BOPD of firm refining capacity under 7…
  12. AN UPDATE ON NFX – Newfield Exploration Co. – slide 12
    NET AVG. PRODUCTION (BOEPD) 4Q12 4Q12 4Q12 1Q13 1Q13 1Q13 Oil NGLs Gas Oil NGLs Gas 7,760 1,040 1,640 7,320 940 1,540 HIGHLIGHTS: Our Williston Basin team delivered best in class wells in 1Q13. Not only were early production rates…
  13. AN UPDATE ON NFX – Newfield Exploration Co. – slide 13
    NET AVG. PRODUCTION (BOEPD) 4Q12 4Q12 4Q12 1Q13 1Q13 1Q13 Oil NGLs Gas Oil NGLs Gas 2,980 950 1,270 2,780 830 1,220 HIGHLIGHTS: Our Eagle Ford development is centered on the West Asherton field. We are running two operated rigs,…
  14. AN UPDATE ON NFX – Newfield Exploration Co. – slide 14
    An Update on NFX 1st Quarter 2013
  15. AN UPDATE ON NFX – Newfield Exploration Co. – slide 15
    2012* 2013e 2014e 2015e Domestic Production: Oil (MMBO) 11.1 13.5 14.5 16.8 19.0 20.6 25.3 NGLs (MMBbls) 2.3 4.2 4.7 7.2 8.0 6.9 8.5 Natural Gas (BCF) 140 115 125 114 132 112 136 Domestic Total (MMBOE) 36.8 37.0 40.0 43.0 49.0 46.0…
  16. AN UPDATE ON NFX – Newfield Exploration Co. – slide 16
    Domestic Intl Total Operating Expenses: Recurring LOE (per BOE): 5.50 6.15 15.40 17.00 7.05 7.80 Major Expense (per BOE): 1.65 1.80 2.00 2.20 1.70 1.90 Transportation (per BOE)*: 3.10 3.50 2.70 3.00 Total LOE (per BOE) 10.25 11.45…
  17. AN UPDATE ON NFX – Newfield Exploration Co. – slide 17
    Year-End 12 Incremental Total Gross Domestic Proved Net Unrisked Net Potential Liquids Plays Reserves Resource Acres Locations Uinta Central Basin* 23 763 67,400 3,000 Anadarko Cana 24 407 125,000 1,500 Uinta - Green River** 171…
  18. AN UPDATE ON NFX – Newfield Exploration Co. – slide 18
    Dominant Position, Proven Operator in Prolific Uinta Basin Waterflood Holds Significant Value 1,315 Gross Waterflood Locations Additional 2,485 Non-Waterflood/Other Potential Locations Refinery Contracts in Place to Match Future…
  19. AN UPDATE ON NFX – Newfield Exploration Co. – slide 19
    20 Acre Infill Waterflood Program 125 20-Acre Type Curve (BOPD) 1,315 Gross Infill Locations 1,040 20ac (Full Waterflood Patterns)** 276 40ac (Partial Waterflood Patterns)** 100 5,000 Avg. Depth 140 MBOE EUR (88% Oil, 3% NGLs, 9%…
  20. AN UPDATE ON NFX – Newfield Exploration Co. – slide 20
    HP Uteland Butte XL Well (3,800 Lateral) 540 Gross Drill Locations HP Uteland Butte XL Type Curve 10000 8,750 Avg. Depth 400 MBOE EUR (67% Oil, 0% NGLs, 33% Gas) Development Well Cost 6 - 7 MM 75% Avg. WI, 59% Avg. 1000 35% ROR…
  21. AN UPDATE ON NFX – Newfield Exploration Co. – slide 21
    Horizontal Wasatch XL Well (3,800 Lateral) HZT Wasatch Type Curve (3,800) 740 Gross Drill Locations 10000 10,000 Avg. Depth 540 MBOE EUR (76% Oil, 0% NGLs, 24% Gas) Development Well Cost 6 8 MM 1000 75% Avg. WI, 58.5% Avg.…
  22. AN UPDATE ON NFX – Newfield Exploration Co. – slide 22
    10-Year History in Oklahoma and the Woodford Formation Converted 1/3 of Cana Acreage into Development in 1 Year Long Laterals Improve Returns 50% ROR 2013-15 Activity Avg. Operated Rig Count: 6-8 Focused on Development Areas…
  23. AN UPDATE ON NFX – Newfield Exploration Co. – slide 23
    South Wet Gas South Oil North Oil Depth (ft) 14,000 16,000 12,000 14,000 8,000 12,000 Lateral Length (ft) 5,000 7,500 9,000 9,000 2013 Average Working Interest, Play Avg. 66%, 27% 91%, 47% 91%, 59% 2013 Average Net Revenue Interest,…
  24. AN UPDATE ON NFX – Newfield Exploration Co. – slide 24
    41,000 Net Acres in Development High ROR Oil Developments on and West of the Nesson Anticline 55,000 Net Acres outside of Increased Efficiencies in Development including Elm Coulee Development Pad Drilling AQUARIUM/WATFORD NFX Net…
  25. AN UPDATE ON NFX – Newfield Exploration Co. – slide 25
    TYPE CURVES (10,000 Lateral) Bakken Economics (10,000 Lateral) 1000 125 Operated Drill Locations Bakken TFS 11,000 Avg. Depth 800 700-950 MBOE EUR (69% Oil, 13% NGLs, 18% Gas) 10.5 MM Well Cost 600 BOEPD 57% Avg. WI, 45%…
  26. AN UPDATE ON NFX – Newfield Exploration Co. – slide 26
    Focused Developments to Grow Oil Production SXL Program Success Doubled EUR/Well Significant Reductions in Cost per Lateral Foot Drive Superior Returns 2013-15 Activity Avg. Operated Rig Count: 2 Unlock Potential in Shallower…
  27. AN UPDATE ON NFX – Newfield Exploration Co. – slide 27
    Mav Basin SXL EF (7,500 Lateral) 100 Drill Locations TYPE CURVE 7,000 Avg. Depth 1000 Mav EF 7500' Fashing EF 475-550 MBOE EUR (52% Oil, 23% NGLs, 25% Gas) 8.4 MM Well Cost 800 100% Avg. WI, 75% Avg. NRI BOEPD 30-50% ROR 600…
  28. AN UPDATE ON NFX – Newfield Exploration Co. – slide 28
    Volume/day WeightedAverage Price Swaps w/ Short Collars w/ Short Period Bbls Swaps Puts Collars Puts1 4,000 88.63 2Q 2013 10,000 75/97.49 22,000 80/95113.86 3,000 88.57 3Q 2013 10,000 75/97.49 24,700 80/95114.77 10,000…
  29. AN UPDATE ON NFX – Newfield Exploration Co. – slide 29
    The following table details the expected impact to pre-tax income (in millions, except prices) from the settlement of our derivative contracts, outlined on the previous slide, at various NYMEX oil prices. Oil Prices Period 70 80 90…
  30. AN UPDATE ON NFX – Newfield Exploration Co. – slide 30
    Volume/day WeightedAverage Price Swaps w/ Short Collars w/ Short Period MMBtus Swaps Collars Puts Puts 2Q 2013 270,000 4.281 3Q 2013 270,000 4.241 223,600 4.141 4Q 2013 49,7002 3.75 4.57 205,000 3.92 1Q 2014 65,000 3.75…
  31. AN UPDATE ON NFX – Newfield Exploration Co. – slide 31
    The following table details the expected impact to pre-tax income (in millions, except prices) from the settlement of our derivative contracts, outlined on the previous slide, at various NYMEX gas prices. Gas Prices Period 2 3 4 5 2Q…

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