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Barclays CEO Energy-Power Conference – EOG Resources, Inc.

EOG Resources, Inc. · Sep 11, 2014 · 26 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. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 1
    NYSE Stock Symbol: EOG Investor Relations Contacts Common Dividend: 0.67 Maire A. Baldwin, Vice President IR Basic Shares Outstanding: 547.5 Million (713) 651-6364, Fax (713) 651-6473 mbaldwineogresources.com David J. Streit, Director…
  2. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 2
    Economic Benefits Revenues and Royalties - Federal, State and Local Levels Reduction in Oil Imports Contribution to GDP Industry Activity 570 Bn Spent on Exploration and Development* 690 Hz Oil Rigs Operating Since January…
  3. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 3
    Bakken/ Three Forks 960 (30%) Powder River Basin 55 (2%) DJ Basin 130 (4%) 6 Plays Make up 95% of U.S. Horizontal Oil Production Mid Continent* 250 (5%) Permian 470 (15%) Eagle Ford 1,250 (39%) Source: IHS -…
  4. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 4
    Increased U.S. Supply - Lower U.S. Imports - Stabilized Prices Reindustrialization of U.S. Economy - Higher GDP Growth (Est 2% - 3% by 2020) - Lower Unemployment (Current 1.7 3MM Jobs by 2020) - Lower Trade Deficit (70B Last Year 200B in…
  5. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 5
    12 12000 10 10000 8 8000 6 6000 U.S. Crude Oil Data 4 4000 (MMBd) 2011 2012 2013 2014 YTD 2 2000 Production 5.7 (40%) 6.5 (44%) 7.4 (49.5%) 8.1 (53.3%) Imports 8.9 (60%) 8.5 (56%) 7.6 (50.5%) 7.1 (46.7%)…
  6. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 6
    600 400 200 0 -200 -400 -600 -800 -1,000 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Source: EIA EOG_Barc0914-5
  7. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 7
    Decline in U.S. Conventional Oil Production, Coinciding with 1973 Oil Embargo WTI-Brent Differential (/bbl)* Production (MMBD)* Technological Revolution Precipitates Drop in WTI-Brent Price Differential * Source:…
  8. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 8
    The Early Days 2000 Completed First Horizontal Multi-Stage Fracked Oil Wells in the Permian Basin 2003 Successful Multi-Stage Natural Gas Horizontal Shale Well in Barnett - Start of Horizontal Natural Gas Shale Boom 2005 - 2006…
  9. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 9
    The Exploration for Shale Oil 2006 - 2008 Technical Determination that Oil Molecules Could Move Through Shale Rock - Oil Molecules 7x Gas Molecules First Success, Horizontal Barnett Combo Oil Production in 2007 - Proved Oil Could…
  10. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 10
    Reserve Potential* Since Discovery Average Cumulative Crude Oil Production* (BnBoe) Eagle Ford West Wells (Mbo) 3.2 45 40 2014 YTD 2013 35 2.2 30 2012 1.6 25 2011 20 0.9 15 10 5 0 Apr 2010 Feb 2012 Feb 2013 Feb…
  11. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 11
    Average Cumulative Oil Production* Average 90-Day Cumulative Production* (30 Days) (MBo) (Bo) 45,000 40,000 35,000 127 113 30,000 25,000 20,000 2013 15,000 50 42 10,000 5,000 2012 0 0 10 20 30 2011 2012 2013 4Q 2013…
  12. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 12
    Completed Well Costs* Average Oil IP Rates* (MM) (Bopd) 6.9 6.4 1,263 5.3 5.0 783 737 691 2011 2012 2013 2014 2011 2012 2013 2014 YTD YTD * Normalized to 4,400-foot lateral. EOG_Barc0914-11
  13. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 13
    (Mbo) Better Wells on Tighter Spacing (Feet) 45 1,200 1,032 15% 40 911 1,000 35 17% 30 14% 800 836 25 600 20 554 15 400 10 200 5 0 0 2011 2012 2013 2014 YTD Average 80-Day Cumulative Oil* Well-Spacing *…
  14. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 14
    400 EOG Resources Extending Our Lead 350 EOG 300 OXY 250 CVX 200 150 100 50 0 Jan May Sep Jan May Sep Jan May Sep Jan May Sep Jan 2010 2011 2012 2013 2014 * Source: IHS data through April 2014. Gross operated…
  15. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 15
    70 60 50 40 30 20 10 Co. 12 Co. 13 0 EOG Co. 1 Co. 2 Co. 3 Co. 4 Co. 5 Co. 6 Peer Co. 7 Co. 8 Co. 9 Co. 10 Co. 11 Avg. -10 Apache Corp Anadarko Petroleum EOG Resources Devon Energy Continental Resources…
  16. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 16
    ROCE* ROE* 18.1% 15.6% 14.5% 14.1% 13.7% 13.6% 12.4% 12.7% 11.7% 11.2% 10.0% 9.5% 8.9% 6.6% Integrateds Integrateds Integrateds Integrateds 3.4% 3.7% Majors Majors Majors Majors EOG…
  17. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 17
    Types of Ability to Examples Reservoirs Produce Oil Shale Limited to Highest Eagle Ford Quality Shales DB Leonard Tight Sandstones Good DB Bone Spring Sand, PRB Parkman, DJ Codell Tight Carbonates Good Bakken EOG_Barc0914-16
  18. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 18
    Most Likely Not Another Large Horizontal Oil Play Like the Bakken or Eagle Ford Only Highest Quality Shale Can Produce Oil - Limited Opportunity for New Shale Oil Plays Potential Opportunities for New Shale Plays that Produce Gas, NGLs…
  19. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 19
    Brushy Canyon Net to EOG* MMboe New Mexico Leonard A Shale Texas High ROR Oil Play 550 MMboe - Spacing Tests Underway Leonard B Shale 1st Bone Spring Sand 4,800 Leonard/ Bone Spring 2nd Bone Spring Sand Over Pressured Oil Play…
  20. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 20
    % Net to EOG* Net Drilling Direct Play Crude Oil MMboe Locations ATROR** Years Leonard Shale 50% 550 1,600+ 40+ 100% Second Bone Spring Sand 70% Evaluating Evaluating Evaluating 100% Wolfcamp Shale 31% 800 1,100+ 75+ 70% Total…
  21. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 21
    % Net to EOG* Net Drilling Direct Basin Play Crude Oil MMboe Locations ATROR** Years DJ Codell Sand 78% 125 225 100% 12 Years Niobrara Shale 71% 85 235 40% Powder River Parkman Sand 69% 75 115 100% 8 Years Turner Sand 34% 115…
  22. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 22
    Eagle Ford and Bakken Currently Account for 69% of U.S. Horizontal Oil Production Eagle Ford and Bakken Oil Growth Slowing Permian Has Large Reserve Potential, but Rate of Oil Growth Slower than Eagle Ford U.S. Oil Growth Slowing…
  23. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 23
    3,000 2,800 Bakken and Eagle Ford 69% of Current Horizontal Crude Oil Production* 2,600 2,400 Permian 2,200 2,000 1,800 Eagle Ford 1,250 MBod* 1,600 1,400 Bakken 1,200 1,000 800 958 MBod* 600 400 200 0 Jan…
  24. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 24
    12.0 11.0 10.0 9.0 8.0 7.0 6.0 2014 2015 2016 2017 2018 2019 2020 EIA High Case EIA Base Case EIA Low Case Sell-Side Estimate Source: EIA, Sell Side Estimate. EOG_Barc0914-23
  25. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 25
    MMbd Displacement of Imports (Light) and Blending (Medium) 1.6 Refineries - Retooling/Expansions 1.0 - Total Additional Potential Capacity 2.6 - 3 Year Average Annual Crude Production Growth 0.7 Minimum Headroom for U.S. Light…
  26. Barclays CEO Energy-Power Conference – EOG Resources, Inc. – slide 26
    Enormous U.S. Economic Benefits Significant New Horizontal Oil in Vertically Stacked Shale, Sand and Carbonate Reservoirs Hz Oil Growth Slowing Significantly 2016 Forward No Near Term Over Supply of U.S. Oil EOG Will Continue to be a…

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