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UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co.

Pioneer Natural Resources Co. · May 22, 2012 · 20 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. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 1
    UBS Global Oil And Gas Conference May 22, 2012
  2. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 2
    Investment Highlights U.S. asset base Oil exposure from proved reserves + estimated resource potential of 5 BBOE and 30,000 drilling locations 3rd largest driller in the U.S. with 2012 drilling program focused in four liquids and…
  3. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 3
    Pioneer is the Third Most Active Driller in the U.S. Top U.S. Fields By Rig Count1 (Pioneer Operated Count in Green 58 rigs) 300 250 241 241 219 200 153 150 104 100 71 59 55 50 44 12 2 0 1) Source: ISI Group,…
  4. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 4
    Production Growth Targets MBOEPD 148 153 MBOEPD FY Guidance 147 120 104 46% 52% 58% 65% Liquids Liquids Liquids Liquids 1 1 1 2010 2011 Q1 Q2E-Q4E 2013E 2014E 2012 E 1) Reflects Tunisia and South Africa as…
  5. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 5
    2012E Capital Spending and Cash Flow1 Capital program includes: Drilling capital: 2.4 B 1,525 MM Spraberry Vertical Sensitivity to Commodity Prices ( MM) Includes 100 MM for infrastructure 8.00 275 MM Horizontal Wolfcamp Shale…
  6. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 6
    Substantial Operating Cash Flow Growth1 Billions 3.3 2.8 2.2 1.5 80% Revenue 90% Revenue From Liquids From Liquids 2011 2012E 2013E 2014E 1) Based on commodity prices of 100/bbl oil and 3/mcf gas for 2012 and 100/bbl…
  7. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 7
    Significant Proved Reserves and Resource Potential1 Proved Reserves + Estimated Resource Potential of 5 BBOE and 30,000 drilling locations 12/31/11 Proved Reserves: 1.1 BBOE2 Additional Net Resource Potential: 4.2 BBOE Eagle Ford…
  8. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 8
    PXD Largest Spraberry Acreage Holder, Driller and Producer 72 Spraberry Field Gross Production By Operator PXD Acreage (MBOEPD)1 (900,000 Acres; 75% HBP) 31 Spraberry Field 28 24 13 12 10 9 9 8 1) December 2011 IHS Data,…
  9. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 9
    Industry Increasing Horizontal Wolfcamp Shale Activity Average Drilling Rigs Average Lateral Length (Feet) (All Companies) 32 rigs currently (Pioneer, EOG, Approach) 7,400 19 4,700 5 Q4 2010 Q4 2011 Q4 2010 Q4 2011…
  10. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 10
    Horizontal Wolfcamp Shale Activity Ramping Up 400,000 acres potentially prospective Focused on holding acreage in southern 200,000 acres during 2012 and 2013 XBC Giddings Estate Currently targeting Wolfcamp B interval with First Two…
  11. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 11
    Spraberry Vertical Deeper Drilling Results 6,000 ft Upper Clear- Current Spraberry 40-acre type curve EUR including Lower Wolfcamp: 140 MBOE Spraberry fork Strawn Results 81 vertical wells put on production during Q1…
  12. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 12
    Spraberry Vertical Drilling Program 6,000 ft Upper Clear- 2012 Vertical Drilling Program Spraberry fork Currently running 40 vertical rigs; decreasing to 30 during 2H Spraberry Deepest Interval 2012 Blended Before…
  13. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 13
    Continuing to Successfully Grow Spraberry Production Spraberry Net Production1,2 (MBOEPD) 96 103 Benefited from 81 87 significant frac bank reduction (40 wells) 62 45 4 4 2011 Q1 Q2E - Q4E 2013E 2014E 690 vertical…
  14. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 14
    Eagle Ford Shale Operational Update Drilled 28 wells in Q1 2012; 26 wells put on production Running 12 rigs Current gross well cost: 7 MM - 8 MM 2012 drilling program before-tax IRR1 70%; impacted by low gas prices 2012 drilling…
  15. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 15
    Successfully Growing Eagle Ford Shale Production Eagle Ford Shale Net Production1 47 53 (MBOEPD) 37 41 23 12 2011 Q1 Q2E - Q4E 2013E 2014E 2012 E 25 29 MBOEPD FY Guidance Rigs 12 Mid-Year 12 14 162 1) Reflects…
  16. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 16
    Barnett Shale Combo Operational Update Drilled 9 wells in Q1; 10 wells put on production Running 2 rigs Target gross well cost for 5,000 lateral: 3.5 MM Gross EUR: 460 MBOE (16% oil, 42% NGLs, 42% gas) 30% before-tax IRR1; impacted…
  17. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 17
    Successfully Growing Barnett Shale Combo Production Barnett Shale Net Production (MBOEPD) 18 23 12 16 6 4 2011 Q1 Q2E - Q4E 2013E 2014E 2012 E 7 9 MBOEPD FY Guidance Rigs 2 2 4 4 18
  18. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 18
    Alaska - Oooguruk Successful onshore appraisal well in the Torok interval (100% WI) PXD Acreage Initial Development IP rate of 2,000 BOPD (well now shut in Area awaiting permanent onshore production facilities) Island Drill…
  19. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 19
    Why Invest In PXD Significant Upside Potential From: Oil exposure from proved reserves + estimated resource potential of 5 BBOE and 30,000 drilling locations Aggressive Spraberry & Eagle Ford Shale drilling program Extensive…
  20. UBS GLOBAL OIL AND GAS CONFERENCE – Pioneer Natural Resources Co. – slide 20
    Certain Reserve Information Cautionary Note to U.S. Investors --The U.S. Securities and Exchange Commission (the SEC) prohibits oil and gas companies, in their filings with the SEC, from disclosing estimates of oil or gas resources other…

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