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2015 Capital Program – Anadarko Petroleum Corp

Anadarko Petroleum Corp · Mar 3, 2015 · 46 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. 2015 Capital Program – Anadarko Petroleum Corp – slide 1
    2015 Anadarko Investor Conference Call NYSE: APC www.anadarko.com INVESTOR RELATIONS John Colglazier Senior Vice President 832/636-2306 Robin Fielder Director 832/636-1462 Jeremy Smith Director 832/636-1544 WATTENBERG…
  2. 2015 Capital Program – Anadarko Petroleum Corp – slide 2
    Agenda NYSE: APC www.anadarko.com Presenter Title Strategic Overview Al Walker Chairman, President and CEO Financial Discipline Bob Gwin EVP, Finance and CFO U.S. Onshore Chuck Meloy EVP, U.S. Onshore Exploration and…
  3. 2015 Capital Program – Anadarko Petroleum Corp – slide 3
    Differentiating Performance NYSE: APC www.anadarko.com Proven Successful Track Record Deep and Balanced Portfolio Best-in-Class Capital Allocation Distinct Competitive Advantages Active Portfolio Management Production…
  4. 2015 Capital Program – Anadarko Petroleum Corp – slide 4
    Differentiating 5-Year Track Record NYSE: APC www.anadarko.com Divestiture-Adjusted Adjusted 8+% Sales-Volume Growth 4.5+ Billion Free Cash Flow 160+% Reserve Replacement 15/BOE F&D Deepwater Net 65% 160+% Reserve…
  5. 2015 Capital Program – Anadarko Petroleum Corp – slide 5
    Differentiating Depth & Quality NYSE: APC www.anadarko.com 8+ BBOE Lower-Risk Top-Tier U.S. Onshore Activation Costs: 35,000 per Flowing Barrel Resources Provide Relative Net Resources Predictability Visible Pipeline of…
  6. 2015 Capital Program – Anadarko Petroleum Corp – slide 6
    Differentiating Capital-Allocation Approach NYSE: APC www.anadarko.com Align Capital Investments with Anticipated Cash Inflows Maintain Flexibility with Short-Cycle U.S. Onshore Opportunities Leverage Midstream Advantage Advance…
  7. 2015 Capital Program – Anadarko Petroleum Corp – slide 7
    Differentiating Advantages NYSE: APC www.anadarko.com World-Class Exploration Provides Portfolio Option Value Industry-Leading Enhances Project Value Project Management Integrated Midstream Approach Maximizes Upstream…
  8. 2015 Capital Program – Anadarko Petroleum Corp – slide 8
    Differentiating Portfolio Management NYSE: APC www.anadarko.com Ongoing Commitment to Accelerate Value and Reduce Portfolio Complexity 12.5 Billion in Monetizations 2010 - 2014 6 Billion Divestitures 5+ Billion Carried-Interest…
  9. 2015 Capital Program – Anadarko Petroleum Corp – slide 9
    Preserving Value & Positioning for the Future NYSE: APC www.anadarko.com Maintain Portfolio Flexibility to Accelerate as Returns Improve Focus on Driving Efficiencies and Cost Savings Exercise Financial Discipline Continue to be…
  10. 2015 Capital Program – Anadarko Petroleum Corp – slide 10
    2015 Initial Expectations NYSE: APC www.anadarko.com 2015 Expectations Sales Volumes (MMBOE)** 295 - 301 5% YOY Oil Sales-Volume Growth Capital (Billions)1 5.4 - 5.8 Minimal Incremental Cost Savings Assumed Reserve Replacement2…
  11. 2015 Capital Program – Anadarko Petroleum Corp – slide 11
    Flexible Capital Allocation Preserves Value NYSE: APC www.anadarko.com 2015 Capital Expectations: 5.4 - 5.8 Billion* Corporate 3% Short Cash Cycle Mid Cash Cycle Long Cash Cycle 55% 30%…
  12. 2015 Capital Program – Anadarko Petroleum Corp – slide 12
    Strong Financial Position NYSE: APC www.anadarko.com 3 Billion Cash-on-Hand* S&P Material Borrowing Capacity BBB 3 Billion 5-Year Revolving Credit Facility Stable 2 Billion 364-Day Facility 3 Billion Commercial Paper Moodys Baa2…
  13. 2015 Capital Program – Anadarko Petroleum Corp – slide 13
    WES & WGP: 15+ Billion Value for Anadarko NYSE: APC www.anadarko.com Anticipate Periodic Transactions Anadarko WES Independently Funds Significant Midstream Expansions 88% GP LP* Provides Visible Cash Source Western Gas 8%…
  14. 2015 Capital Program – Anadarko Petroleum Corp – slide 14
    2015 Multiples With/Without Hedging Impact NYSE: APC www.anadarko.com E&P Valuations 2015 EV/EBITDA 16.0x 14.0x 12.0x 10.0x 8.0x 6.0x 4.0x Small-Cap Median Mid-Cap Median Large-Cap Median Anadarko Anadarko…
  15. 2015 Capital Program – Anadarko Petroleum Corp – slide 15
    Financial Discipline as a Competitive Advantage NYSE: APC www.anadarko.com Preserve Balance Sheet Strength Committed to Solid Investment Grade Rating Ongoing Portfolio-Management Activity 4.5+ Billion Adjusted Free Cash Flow*…
  16. 2015 Capital Program – Anadarko Petroleum Corp – slide 16
    U.S. Onshore: 2015 Playbook NYSE: APC www.anadarko.com Maintain High HSE Standards Outstanding Safety Performance 1.00 Leverage Continuous Improvement Culture 0.60 TRIR Capture Supply Chain Savings 0.50 0.30 Focus on Base…
  17. 2015 Capital Program – Anadarko Petroleum Corp – slide 17
    U.S. Onshore: Maintain Flexibility & Preserve Value NYSE: APC www.anadarko.com Will Reduce Onshore Rig Count by 40% from 2014 2015 CAPITAL BUDGET 3.8 BILLION Defer 125 Completions Until Costs Align with Commodity Prices Midstream…
  18. 2015 Capital Program – Anadarko Petroleum Corp – slide 18
    Wattenberg: World-Class Asset NYSE: APC www.anadarko.com Consolidated Core Acreage 1.5+ BBOE Current Net Resources WATTENBERG Net Acres: 350,000 500+ MMBOE Upside with Downspacing Light Oil 4,000 Identified HZ Drilling Locations…
  19. 2015 Capital Program – Anadarko Petroleum Corp – slide 19
    Wattenberg Infrastructure: Staying Ahead of the Game NYSE: APC www.anadarko.com Multiple Delivery Options to Maximize Value Oil Takeaway Capacity 120 Recent Additions 300 MMcf/d Lancaster Cryogenic Plant Current MBOPD 150,000…
  20. 2015 Capital Program – Anadarko Petroleum Corp – slide 20
    Delaware Basin Wolfcamp: Its BIG NYSE: APC www.anadarko.com Activity Demonstrates Commerciality Top-Tier Acreage Position DELAWARE BASIN NEW MEXICO Gross Acres: 610,000 1+ BBOE Net Resource Potential TEXAS Net Acres: 255,000 100+…
  21. 2015 Capital Program – Anadarko Petroleum Corp – slide 21
    Delaware Basin: Building the Foundation for Future Growth NYSE: APC www.anadarko.com APC, WES & JV Infrastructure DELAWARE BASIN Year-End 2014 Infrastructure Gross Acres: 610,000 Net Acres: 255,000 Gas Gathering Pipelines 780 Miles…
  22. 2015 Capital Program – Anadarko Petroleum Corp – slide 22
    Delaware Basin Wolfcamp: Advancing an Onshore Mega Project NYSE: APC www.anadarko.com Complete Reservoir Evaluation and Planned Development Options Lease-Commitment Activity 3-Section Pooled Unit 3D Development View Test Stacked-Pay…
  23. 2015 Capital Program – Anadarko Petroleum Corp – slide 23
    Eagleford: Maximizing Scale Advantages NYSE: APC www.anadarko.com 250+ MBOE/d Gross Processed Sales Volumes 1,400+ Wells Drilled to Date EAGLEFORD 2,000 Identified Drilling Locations Gross Acres: 332,000 Dimmit Net Acres: 162,000…
  24. 2015 Capital Program – Anadarko Petroleum Corp – slide 24
    Eagleford: Large-Scale Infrastructure Advantages NYSE: APC www.anadarko.com EAGLEFORD Year-End 2014 Infrastructure Brasada Processing NGL Pipeline to Mt. Belvieu Gross Acres: 332,000 Plant Net Acres: 162,000 Oil Gathering…
  25. 2015 Capital Program – Anadarko Petroleum Corp – slide 25
    U.S. Onshore: Delivering Capital-Efficient Liquids Growth NYSE: APC www.anadarko.com Core Positions in 3 Major Horizontal Oil Plays Track Record of Top-Tier Results 92,000 BOE/d Growth in 2014 Wedge Volumes Added at 35,000 per…
  26. 2015 Capital Program – Anadarko Petroleum Corp – slide 26
    NYSE: APC www.anadarko.com INVESTOR RELATIONS John Colglazier Senior Vice President 832/636-2306 Robin Fielder Director 832/636-1462 Jeremy Smith Director 832/636-1544 LUCIUS SPAR, GULF OF MEXICO International &…
  27. 2015 Capital Program – Anadarko Petroleum Corp – slide 27
    High-Impact Projects Deliver Differentiating Value NYSE: APC www.anadarko.com Stable Higher-Margin Liquids Sales Volumes High-Quality Assets 160 150 - 160 149 148 Industry-Leading Project Management 141 147 143 MBbl/d Manage…
  28. 2015 Capital Program – Anadarko Petroleum Corp – slide 28
    Industry-Leading Project Management Enhances Value NYSE: APC www.anadarko.com Excellent Safety Performance Anadarko is Fast & Efficient (IPA) Project Delivery Track Record Fast/High-Cost Fast/Low-Cost Schedule Performance…
  29. 2015 Capital Program – Anadarko Petroleum Corp – slide 29
    Advancing Mega Developments NYSE: APC www.anadarko.com Lucius Ramping Toward Capacity DESIGN ONE: BUILD TWO Caesar/Tonga Adding Incremental Oil Volumes Lucius: 80,000 BOPD Spar Sanction to First Production: 3 Years Heidelberg on…
  30. 2015 Capital Program – Anadarko Petroleum Corp – slide 30
    Mega Projects Provide Significant Volumes & Cash NYSE: APC www.anadarko.com Consistently Delivering High-Value Growth Visible Growth 250 3.5+ Billion Value Accelerated Estimated Sales Volumes Lucius: 476 Million Carry for 6.2%…
  31. 2015 Capital Program – Anadarko Petroleum Corp – slide 31
    Lucius: Differentiating Value NYSE: APC www.anadarko.com 2+ Billion BTAX Net Value GULF OF MEXICO Gross Acres: 2.3 Million Development Capital Carried Moccasin 1-Year Anticipated Payout Discovery First Oil 3 Years from…
  32. 2015 Capital Program – Anadarko Petroleum Corp – slide 32
    Heidelberg: Replicating Lucius Success NYSE: APC www.anadarko.com First Oil Anticipated Mid-2016 GULF OF MEXICO 3 Years from Sanction Heidelberg Unit Gross Acres: 2.3 Million 31.5% WI Project 75% Complete Future Spar 2 Rigs…
  33. 2015 Capital Program – Anadarko Petroleum Corp – slide 33
    Ghana: Premium-Value Oil Growth NYSE: APC www.anadarko.com Jubilee: Producing 100,000+ BOPD GHANA Gross Acres: 0.3 Million High Margins: 90/Bbl EBITDAX in 2014 125+ MMBO Produced Since 2010 Wawa Gas Off-Take to Enable Increased…
  34. 2015 Capital Program – Anadarko Petroleum Corp – slide 34
    Algeria: 3 World-Class Developments in Sahara Desert NYSE: APC www.anadarko.com High Margins: 72/Bbl EBITDAX in 2014 BLOCK ALGERIA 404A HBNS CPF Gross Acres: 0.5 Million El Merk Drives Record Net Production in 2014 10 miles El…
  35. 2015 Capital Program – Anadarko Petroleum Corp – slide 35
    Mozambique LNG: Competitive Global LNG Supply Source NYSE: APC www.anadarko.com Enormous Recoverable Resources MOZAMBIQUE 75+ Tcf on Offshore Area 1 OFFSHORE AREA 1 Gross Acres: 1+ Million Scalable Onshore Development to 50+ MMTPA…
  36. 2015 Capital Program – Anadarko Petroleum Corp – slide 36
    Mozambique LNG: Progressing World-Class Project to FID NYSE: APC www.anadarko.com MOZAMBIQUE Independent Certified Sufficient to Support OFFSHORE AREA 1 Reserves Initial Trains Gross Acres: 1+ Million Establishing Legal &…
  37. 2015 Capital Program – Anadarko Petroleum Corp – slide 37
    Continuous Mega-Project Pipeline Delivering Results NYSE: APC www.anadarko.com Growing Long-Life, High-Margin Oil Production Increasing Liquids Composition 100% Advancing Multiple Development Projects 85% 82% Liquids 74% 77%…
  38. 2015 Capital Program – Anadarko Petroleum Corp – slide 38
    Proven Exploration Strategy NYSE: APC www.anadarko.com Consistent Focus on Strengths Portfolio-Based Decisions 5-Year Track Record Risk Assessment Explore/ Optimize/ Capture Test 65% Deepwater Focused on Value Creation Deep Drill…
  39. 2015 Capital Program – Anadarko Petroleum Corp – slide 39
    Creating Unmatched Value with Optionality NYSE: APC www.anadarko.com Net Discovered 6.5 BBOE Resources 10 Billion Capital Invested 13 Billion Monetized 2005 - 2014 5 BBOE Resources Retained 250 MBOE/d Net Production…
  40. 2015 Capital Program – Anadarko Petroleum Corp – slide 40
    Exploration Successes in 2014 NYSE: APC www.anadarko.com Deepwater Drilling Success Rate Leveraged Our Success 100% 200 Million Funding Through Farm-Outs 2014 Top-10 Drilling Success 80% Deepwater 3+ Billion Monetizations…
  41. 2015 Capital Program – Anadarko Petroleum Corp – slide 41
    2015 Deepwater & International Exploration Activity NYSE: APC www.anadarko.com 2015 CAPITAL BUDGET 600 MILLION Expl Drilling Appr 52% Drilling 28% Gulf of 2+ MM Gross Acres North 3 - 4 Exploration & 1 MM Gross Acres G&G…
  42. 2015 Capital Program – Anadarko Petroleum Corp – slide 42
    2015 Gulf of Mexico Exploration Activity NYSE: APC www.anadarko.com Shenandoah: Advancing Toward GULF OF MEXICO Development Gross Acres: 2.3 Million 3 - 5 Gross Wells Appraisal Well Up-Dip to Shenandoah-2 Thorvald Opal Yeti:…
  43. 2015 Capital Program – Anadarko Petroleum Corp – slide 43
    2015 International Deepwater Exploration Activity NYSE: APC www.anadarko.com Cte dIvoire Advancing Toward Commerciality Paon: Appraisal Well and DST Colombia: Drilling Under Way Kronos: Large 3-Way Calasu: Multi-Target 4-Way…
  44. 2015 Capital Program – Anadarko Petroleum Corp – slide 44
    Leveraging Exploration as a Competitive Advantage NYSE: APC www.anadarko.com Capture with High Working Interest Perform Early Science Develop High-Quality Projects Leverage Reputation Ensure Win-Win Partnerships 2 Billion…
  45. 2015 Capital Program – Anadarko Petroleum Corp – slide 45
    Proven Exploration Strategy with an Eye on the Future NYSE: APC www.anadarko.com Accelerating Portfolio Value Leveraging Our Success Providing Option Value Value Creation from New Fields, Organic Unconventionals and DROs (2009 -…
  46. 2015 Capital Program – Anadarko Petroleum Corp – slide 46
    Preserving Value & Positioning for the Future NYSE: APC www.anadarko.com Balanced Portfolio with Unmatched Depth and Quality Demonstrated Commitment to Financial Discipline Efficient Capital-Allocation Approach Active Portfolio…

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