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2014 Management Round Table – Chevron Corp

Chevron Corp · May 20, 2014 · 27 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. 2014 Management Round Table – Chevron Corp – slide 1
    2014 Management Round Table Houston, TX May 20, 2014 2014 Chevron Corporation
  2. 2014 Management Round Table – Chevron Corp – slide 2
    Agenda North America E&P Jeff Shellebarger 15 min. Deepwater Steve Thurston 45 min. Permian Basin Bruce Niemeyer 45 min. Break 15 min. Global Exploration Bobby Ryan 60 min. Pierre Breber Gas and Midstream Colin Parfitt 45 min.…
  3. 2014 Management Round Table – Chevron Corp – slide 3
    North America Exploration & Production Jeff Shellebarger President, Chevron North America Exploration and Production 2014 Chevron Corporation 4
  4. 2014 Management Round Table – Chevron Corp – slide 4
    Leading North America Positions Canada San Joaquin Valley 71 MBOED 177 MBOED Progressing Kitimat LNG Largest producer in California Promising Duvernay play 17,000 operating wells Oil sands and offshore projects International Heavy…
  5. 2014 Management Round Table – Chevron Corp – slide 5
    Significant Growth to End of Decade Project Startups Project Startups 13 250MM Chevron Share 10 1B Chevron Share Liard and Horn River Basins Kitimat Duvernay Hebron Marcellus and Utica Jack/St. Malo Stage 1 and 2…
  6. 2014 Management Round Table – Chevron Corp – slide 6
    Deepwater Exploration and Projects Steve Thurston Vice President, Deepwater Exploration and Projects 2014 Chevron Corporation 7
  7. 2014 Management Round Table – Chevron Corp – slide 7
    Leading Player in the Gulf of Mexico Core Shelf Assets DW Producing Fields Main Pass DW MCPs Wilcox Discoveries Petronius Planned Exploration Drills Bay Marchand Chevron Leases Shelf Eugene Island 105 MBOED South Timbalier…
  8. 2014 Management Round Table – Chevron Corp – slide 8
    Gulf of Mexico Start-ups Jack / St. Malo Big Foot Tubular Bells Planned start-up in 2014 Planned start-up in 2015 Operator forecast 177 MBOED capacity 79 MBOED capacity 3Q 2014 start-up FPU installed TLP tow to location in 2014 44…
  9. 2014 Management Round Table – Chevron Corp – slide 9
    Deepwater Gulf of Mexico Potential Cumulative Resource Estimates Prolific petroleum basin Discovered / Yet-to-Find BBOE 9 billion BOE produced 40 Norphlet 30 Lower Tertiary Significant resource potential 20 Miocene 10 24…
  10. 2014 Management Round Table – Chevron Corp – slide 10
    Technology Enabling Deepwater From Top to Bottom Seismic Imaging Ocean Bottom Nodes In-well retrievable Dual ESP gradient Reverse time migration drilling (DGD) Seismic imaging Seafloor pumps Integration of 3D basin and…
  11. 2014 Management Round Table – Chevron Corp – slide 11
    Permian Basin Bruce Niemeyer Vice President, Mid-Continent Business Unit 2014 Chevron Corporation 13
  12. 2014 Management Round Table – Chevron Corp – slide 12
    Permian Competitive Position Industry Trends Industry Well Count Midland and Delaware 6,000 Focused on liquids-rich plays 3,000 Shift to horizontal wells Increased activity in Delaware Basin 0 2003 2005 2007 2009 2011 2013…
  13. 2014 Management Round Table – Chevron Corp – slide 13
    Strong Position, Value Focused Development Superior lease position Largest undeveloped lease holder* 1.9 MM net acres across basin; 17,000 well prospects Advantaged acreage 60% no royalty, 30% low royalty Low lease holding costs;…
  14. 2014 Management Round Table – Chevron Corp – slide 14
    Unconventional Opportunities Midland Basin Delaware Basin Vertical play Approach Wolfcamp/Cline plays Leverage partners to de-risk plays Development concentrated on Continuing appraisal while western and eastern slopes…
  15. 2014 Management Round Table – Chevron Corp – slide 15
    Long-Term Potential Long-term growth with high Permian Basin Growth Net Production MBOED Rig Count value 250 50 Shorter cycle time; limited non- 200 40 productive capital 150 30 De-risking areas before moving to a…
  16. 2014 Management Round Table – Chevron Corp – slide 16
    Global Exploration Bobby Ryan Vice President, Global Exploration 2014 Chevron Corporation 19
  17. 2014 Management Round Table – Chevron Corp – slide 17
    Exploration Strategy Sets Direction & Drives Discipline Exploration Strategy Exploration Leadership Technical excellence Focused and high-impact Portfolio Risk-balanced global portfolio Performance Strategic and Benchmarked and…
  18. 2014 Management Round Table – Chevron Corp – slide 18
    Consistent Exploration Success 10.2 BBOE 56 % 59 % Exploration Resource(2) Resource(1) Adds Success Rate Success Rate Replacement 10 Year Total 10 Year Average in 2013 20032012 Percent Replacement 120% 110% XOM 95% RDS 77% 66%…
  19. 2014 Management Round Table – Chevron Corp – slide 19
    New Acreage is Required as Focus Areas Mature 23 Million 52 Million Highest 2011-2013 New Acreage acreage in Million Acres (Chevron Net) Net Acres Added Total Exploration Since 2011 Acres a decade Australian Bight Morocco China…
  20. 2014 Management Round Table – Chevron Corp – slide 20
    New Plays in Old Areas High Potential, Lower Risk Increasing Difficulty & Technology Need Focus Areas Gulf of MATURE Mexico Angola Nigeria Australia Increasing Difficulty & Technology Need EMERGING PLAY EXTENSION…
  21. 2014 Management Round Table – Chevron Corp – slide 21
    2014 Exploration Program Highlights Poland & Romania Liard Basin Duvernay Midland & Marcellus & Utica Delaware Basins Morocco China Offshore SA/PZ Myanmar GOM DW Liberia Kurdistan Region of Iraq Suriname Nigeria…
  22. 2014 Management Round Table – Chevron Corp – slide 22
    Gas and Midstream Pierre Breber Corporate Vice President and President, Chevron Gas and Midstream 2014 Chevron Corporation 26
  23. 2014 Management Round Table – Chevron Corp – slide 23
    Gas and Midstream Organization Apply commercial and functional excellence to enable the success of Upstream and Downstream & Chemicals Downstream Upstream Gas Supply & Energy Shipping Pipeline Power Comm. Trading…
  24. 2014 Management Round Table – Chevron Corp – slide 24
    LNG Outlook Global LNG Supply and Demand MTPA LNG demand 500 expected to almost Supply double by 2025 400 Opportunity U.S. Probable 300 Pacific U.S. Under Over 100 MTPA Construction Basin Intl. Under Construction of new…
  25. 2014 Management Round Table – Chevron Corp – slide 25
    Regionally Distinct Gas Pricing Global Gas/LNG Prices /MMBTU Regional gas 25 markets are 20 expected to persist Japan Avg. 15 LNG 10 NBP Market 5 characteristics and Henry Hub drivers differ 0 2005 2007 2009 2011 2013…
  26. 2014 Management Round Table – Chevron Corp – slide 26
    LNG Project Portfolio LNG Commitments MTPA Target 25 30% 20 25% 15% 70% 15 10 20% 85% 75% 5 15% 65% 0 Gorgon Foundation Wheatstone Foundation Pre-FID Projects Portfolio Term Commitments Yet to Commit Target Term…
  27. 2014 Management Round Table – Chevron Corp – slide 27
    Midstream Businesses Shipping: Expanding global fleet of LNG ships Supply and Trading: Flow assurance, value optimization and commercial opportunity capture Pipe Line and Power: Aligning assets with enterprise strategies…

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