3rd Quarter 2012 Conference Call Ryan Lance, Chairman and CEO Jeff Sheets, EVP, Finance and CFO Matt Fox, EVP, Exploration & Production October 25, 2012
Third-Quarter Highlights Strong performance in first full quarter as an independent E&P company Strategic Continued progress on strategic asset disposition program Significant exploration activity continues Achieved quarterly…
State of the Business Business continues to run well Annual planned maintenance activities completed Volume and margin growth plans on target North American unconventional drilling programs achieving production milestones Major…
FINANCIAL REVIEW 3Q12 Performance Adjusted Earnings Adjusted Earnings (MM) Adjusted earnings down 7% vs. 3Q11; up 15% vs. 2Q12 Production volumes as planned Solid performance across the portfolio Maintenance completed as…
FINANCIAL REVIEW 3Q12 Performance Production Gas O Liquids T H MBOED E R 6
FINANCIAL REVIEW Lower 48 & Latin America Production (MBOED) Realized Prices Liquids Gas 3Q11 4Q11 1Q12 2Q12 3Q12 Crude 89 94 99 90 90 (/Bbl) NGL 52 52 45 35 31 (/Bbl) Nat Gas 4.15 3.48 2.65 2.10 2.64 (/Mcf) Adjusted…
FINANCIAL REVIEW Alaska Production (MBOED) Realized Prices Liquids Gas 3Q11 4Q11 1Q12 2Q12 3Q12 Crude 107 109 112 112 107 (/Bbl) Adjusted Earnings (MM) Major turnaround activity in 3Q12 completed as planned Realized…
FINANCIAL REVIEW Asia Pacific & Middle East Production (MBOED) Realized Prices1 Liquids Gas 3Q11 4Q11 1Q12 2Q12 3Q12 Crude 112 111 118 109 105 (/Bbl) Nat Gas 10.68 9.99 10.40 11.47 10.64 (/Mcf) Adjusted Earnings (MM)…
FINANCIAL REVIEW Europe Production (MBOED) Realized Prices Liquids Gas 3Q11 4Q11 1Q12 2Q12 3Q12 Crude 115 110 121 110 110 (/Bbl) Nat Gas 9.08 9.88 9.98 9.52 8.87 (/Mcf) Adjusted Earnings (MM) 3Q12 production impacted by…
FINANCIAL REVIEW Other International Production (MBOED) Realized Prices1 Liquids Gas 3Q11 4Q11 1Q12 2Q12 3Q12 Crude 115 112 122 109 108 (/Bbl) Nat Gas 2.36 2.36 2.52 2.45 3.44 (/Mcf) Adjusted Earnings (MM) 2Q12 earnings…
FINANCIAL REVIEW Corporate and Other Adjusted Earnings (MM) 3Q12 results include benefits from: Licensing revenue Foreign exchange rates 2012 annual adjusted earnings impact of approximately 850 MM Repaid 2.0 B of debt in the…
FINANCIAL REVIEW Operating Segments Margins and Returns Income per BOE () Cash Contribution per BOE () Return on Capital Employed Cash Return on Capital Employed Metrics are adjusted for Special Items. 14
FINANCIAL REVIEW 3Q12 Performance Company Cash Flow B 2 1 3 1 Beginning cash and restricted cash includes cash and cash equivalents of 1.04 B and restricted cash of 5.00 B. 2 Cash from continuing operating activities was…
OPERATIONS REVIEW Lower 48 & Latin America Eagle Ford Condensate Stabilization Eagle Ford ramp-up continuing Achieved 86 MBOED peak rate during 3Q12 Expect 100 MBOED peak rate during 4Q12 Adding infrastructure to maximize sales…
OPERATIONS REVIEW Canada Christina Lake Expansion Oil Sands programs ramping up Expect to reach 100 MBOED milestone in 4Q12 Christina Lake Phase D first production ahead of schedule Surmont 2 construction progressing Narrows Lake…
OPERATIONS REVIEW Alaska Kuparuk 2012 turnarounds completed Kuparuk 14 days ahead of schedule Alpine and Prudhoe completed as planned Sanctioned Alpine West (CD5) Continuing ANS Gas LNG concept selection Preparing for a…
OPERATIONS REVIEW Asia Pacific & Middle East APLNG Australia activities on track Continued progress on APLNG Successful Poseidon appraisal well at Boreas-1 Drilled and cored first well in Canning Basin China recovery and new…
OPERATIONS REVIEW Europe Jasmine Jacket Install at Judy U.K. focus on growth projects Completed a 44-day turnaround at Judy Jasmine first oil expected 2nd half of 2013 Installed Jasmine pipeline and jackets Drilling results…
OPERATIONS REVIEW Other International MLN, Algeria Completed sale of 30% interest in NMNG Libya production at pre-conflict levels Executed Faregh Gas Sales Agreement Kashagan first production expected in 1st half of 2013…
Summary Plans Remain on Track Strong operational quarter first full quarter post spin Focused on executing major projects and drilling programs Building conventional and unconventional exploration portfolio Executing asset…
COP Non-GAAP Reconciliations ROCE Operating Segments 3Q11 4Q11 1Q12 2Q12 3Q12 Numerator (MM) Net Income Attributable to ConocoPhillips 2,616 3,390 2,937 2,267 1,798 Adjustment to exclude special items (704) (1,276) (1,096) (732)…
COP Non-GAAP Reconciliations CROCE Operating Segments 3Q11 4Q11 1Q12 2Q12 3Q12 Numerator (MM) Net Income Attributable to ConocoPhillips 2,616 3,390 2,937 2,267 1,798 Adjustment to exclude special items (704) (1,276) (1,096) (732)…
COP Non-GAAP Reconciliations Earnings and Cash per BOE - Operating Segments 3Q11 4Q11 1Q12 2Q12 3Q12 Millions, except per BOE amounts Net Income Attributable to ConocoPhillips 2,616 3,390 2,937 2,267 1,798 Adjustment to exclude special…
COP Non-GAAP Reconciliations Reconciliation of Earnings to Adjusted Earnings Millions of dollars, except per share amounts 2011 2012 3Q 4Q 1Q 2Q 3Q Consolidated Earnings 2,616 3,390 2,937 2,267 1,798 Adjustments: Impairments -…
COP Non-GAAP Reconciliations Reconciliation of Earnings to Adjusted Earnings Millions of dollars, except per share amounts 2011 2012 3Q 4Q 1Q 2Q 3Q Canada Earnings (loss) 73 (110) (549) (94) (31) Adjustments: Impairments - 190…
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