4TH QUARTER 2011 CONFERENCE CALL – ConocoPhillips

ConocoPhillips · Jan 25, 2012 · 27 slides

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Slides

FourthQuarter Overview Adjusted Earnings 2.7 B 2.02 Adjusted EPS / 4.39 CFPS 1.60 MMBOED production Cash from Operations 94% refining utilization 5.8 B Progressed asset divestiture program Return on Capital 3% of shares…
Company Adjusted Earnings 4Q11 vs. 4Q10 MM 249 6 495 2,667 1,929 4Q10 Adjusted E&P R&M Other 4Q11 Adjusted Earnings Earnings 3
Company Adjusted Earnings 2011 vs. 2010 MM 1,401 1,250 646 2,535 12,157 8,825 2010 Adjusted E&P R&M LUKOIL Other 2011 Adjusted Earnings Earnings 4
E&P Production 4Q11 vs. 4Q10 MBOED 30 43 Nat. Gas 20 Liquids 10 23 38 2 1,729 1,597 4Q10 Dispositions Libya Russia Bohai Bay Operations 4Q11 5
E&P Production 2011 vs. 2010 MBOED 48 39 Nat. Gas 20 23 15 Liquids 28 8 1,752 1,619 2010 Dispositions Libya Russia Bohai Bay Operations 2011 6
E&P Adjusted Earnings 4Q11 vs. 4Q10 MM 95 745 155 2,349 1,854 4Q10 Adjusted Prices & Other Sales Volumes Costs & Other 4Q11 Adjusted Earnings Market Impacts Earnings Adjusted 4Q11 vs. 4Q11 vs. Earnings 4Q10 4Q11 4Q10…
E&P per BOE Metrics E&P Income per BOE E&P Cash Contribution per BOE / BOE / BOE 30 30 25 25 20 20 15 15 24.07 26.29 29.35 26.98 27.27 10 10 11.66 14.34 17.09 15.49 15.99 5 5 0 0 4Q10 1Q11 2Q11 3Q11 4Q11 4Q10 1Q11 2Q11…
R&M Adjusted Earnings 4Q11 vs. 4Q10 MM 21 113 148 207 201 50 4Q10 Adjusted Margins & Other Volumes Operating Other 4Q11 Adjusted Earnings Market Impacts Costs Earnings Adjusted 4Q11 vs. Realized 4Q11 vs. Earnings 4Q10…
R&M per BBL Metrics R&M Income per BBL R&M Cash Contribution per BBL / BBL / BBL 5 5 4 4 3 3 2 2 1 1 1.41 2.49 3.32 4.79 1.50 0.70 1.74 2.58 4.08 0.70 0 0 4Q10 1Q11 2Q11 3Q11 4Q11 4Q10 1Q11 2Q11 3Q11 4Q11 Based on…
Other Segments Adjusted Earnings 4Q11 vs. 4Q10 MM 4Q10 4Q11 156 118 118 91 (154) (305) Chemicals Midstream Corporate 11
Company Cash Flow 4Q11 B 2.7 4.0 0.9 5.8 3.1 0.1 6.0 6.4 4Q11 CFO Proceeds Capital Dividends Share Debt & Other 4Q11 Beginning from Program Repurchase Ending Cash Cash & Short- Dispositions & Short-term term…
Sources and Uses of Cash 2011 Total 29.7 B Other Cash & ST 1.2 Invest. Dividends 4.1 3.6 Asset Sales 4.8 Capital Program Share 14.0 Repurchases 11.1 CFO 19.6 Debt Reduction 1.0 Sources of Cash Uses of Cash 13
Capital Structure 100 40 50 80 40 30 29 69 66 63 31 60 24 23 30 25 26 20 40 20 10 20 10 0 0 0 '09 '10 '11 '09 '10 '11 '09 '10 '11 Equity B Balance Sheet DebttoCapital Debt B Ratio % 14
ROCE/CROCE Return on Capital Employed Cash Return on Capital Employed 30% 30% 25% 25% 20% 20% 15% 15% 10% 10% 17% 20% 23% 5% 5% 6% 10% 14% 0% 0% 2009 2010 2011 2009 2010 2011 Adjusted to exclude LUKOIL. 15
3Year Repositioning Plan: 2010 2012 Portfolio optimization 10.7 B in proceeds from asset dispositions / 9.5 B from LUKOIL share sales 5 10 B incremental asset sales in 2012 Returns enhancement Increased ROCE from 6% in 2009 to 14% in…
Production and Reserves Per Share Production per Share boe/sh 0.48 Reserves per Share 3-5% Growth 5.7 boe per share in 2010 0.46 6.4 boe per share in 2011 0.44 5% Growth 12% increase 0.42 0.40 2010 2011 2012E…
Outlook Operations Exploration Major projects 18
Appendix 19
4Q11 vs. 3Q11 Total Company Adjusted Earnings (MM) E&P Adjusted Earnings (MM) 74 975 157 74 120 69 3,453 2,192 2,349 2,667 3Q11 Adjusted Earnings Prices, Margins & Other Volumes Other 4Q11 Adjusted Earnings 3Q11 Adjusted…
COP NonGAAP Reconciliations 2011 2010 Millions of dollars, except per share amounts 3Q 4Q Yr 3Q 4Q Yr Consolidated Earnings 2,616 3,390 12,436 3,055 2,041 11,358 Adjustments: Impairments 318 649 967 - 638 1,756 Cancelled projects - 28…
COP NonGAAP Reconciliations 2011 2010 Millions of dollars 3Q 4Q Yr 3Q 4Q Yr E&P Earnings 1,762 1,604 8,242 1,564 1,688 9,198 Adjustments: Impairments - 629 629 - 638 638 Cancelled projects - - 54 - - 85 Net (gain)/loss on asset…
COP NonGAAP Reconciliations 2011 2010 Millions of dollars 3Q 4Q Yr 3Q 4Q Yr R&M Earnings (loss) 789 1,714 3,751 268 207 192 Adjustments: Impairments 318 - 318 - - 1,118 Cancelled projects - 28 28 - - 29 Net (gain)/loss on asset…
COP NonGAAP Reconciliations 4Q10 2010 1Q11 2Q11 3Q11 4Q11 2011 1 GAAP E&P Net Income - MM 1,688 9,198 2,352 2,524 1,762 1,604 8,242 GAAP E&P Net Income1 - / BOE 10.61 14.38 15.35 16.91 12.45 10.92 13.95 non-core earnings impacts -…
COP NonGAAP Reconciliations 4Q10 2010 1Q11 2Q11 3Q11 4Q11 2011 1 GAAP R&M Net Income - MM 207 192 482 766 789 1,714 3,751 GAAP R&M Net Income1 - / BBL 0.70 0.17 1.75 2.67 2.69 5.99 3.29 non-core earnings impacts - MM (gains) and…
COP NonGAAP Reconciliations ROCE 2009 2010 4Q11 2011 Numerator (MM) Net income 4,492 11,417 3,410 12,502 After-tax interest expense 838 772 148 632 GAAP ROCE earnings 5,330 12,189 3,558 13,134 Non-core earnings impacts 616 (2,533)…
COP NonGAAP Reconciliations CROCE 2009 2010 2011 Numerator (MM) EBIDA1 14,624 21,248 21,068 Non-core earnings impacts 616 (2,533) (279) Adjusted EBIDA 15,240 18,715 20,789 Adustment to exclude LUKOIL (1,220) (1,252) (239) Adjusted…
COP NonGAAP Reconciliations E&P - ROCE Chemicals - ROCE 2010 2011 2010 2011 Numerator (MM) Numerator (MM) Net income 9,251 8,303 Net income 498 745 After-tax interest expense 91 79 After-tax interest expense - - GAAP ROCE earnings…

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