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CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp

Chesapeake Energy Corp · Feb 12, 2014 · 18 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. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 1
    CREDIT SUISSE ENERGY SUMMIT FEBRUARY 12, 2014 VAIL, CO Credit Suisse Energy Summit 2/12/2014 1
  2. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 2
    OUTLOOK HIGHLIGHTS Expected total capital expenditures to range from 5.2 5.6 billion Planned reduction of 20% YOY and 60% compared to 2010-12 average Projected production growth of 8 10%, adjusted for 2013 asset sales Absolute…
  3. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 3
    OUTLOOK SUMMARY 2014E Absolute production growth(1): Liquids 14 18% Oil 1 5% NGL(2) 40 45% Natural gas (2) 0% Total production 2 4% Daily rate (mboe) 680 695 % of production mix from liquids 29% % O/G revenues from liquids(3)…
  4. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 4
    ADJUSTED PRODUCTION GROWTH 2013 Asset Sale Adjustments (mmboe) 247 - 253 242 (1.2) (3.5) (3.6) (4.8) 229 2013 N. Eagle Ford Haynesville Miss. Lime JV Marcellus 2013 2014E Production Adjusted Production Outlook(1)…
  5. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 5
    PRODUCTION PROFILE NGL Oil Assoc. Natural Gas Dry Shale Gas Conventional Natural Gas Oil, NGL and associated natural gas from liquids plays continue to drive production growth. Credit Suisse Energy Summit 2/12/2014 6
  6. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 6
    CAPITAL DISCIPLINE (1) (1) 2014 total capital expenditures expected to range from 5.2 5.6 billion; planned reduction of 20% YOY and 60% compared to 2010-12 average (1) 2013E and 2014E based on midpoints of company issued…
  7. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 7
    2014 HEDGES Natural Gas Oil 68% 58% 4.15/mcf 93.92/bbl NYMEX NYMEX 47% 21% Swaps Collars 4.18/mcf 4.09 - 4.38/mcf (1) Hedged positions based on Outlook as of 2/6/2014; 21% of 2014 gas production is hedged under collar…
  8. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 8
    GAS DIFFERENTIALS 2013E 2014E Gathering & Transportation(1) (1.25)/mcf (1.38 1.43)/mcf Volume Shortfall(2) (0.03)/mcf (0.12 0.17 )/mcf Regional Basis Differentials (0.29)/mcf (0.15 0.20)/mcf BTU Uplift 0.17/mcf 0.05 0.10/mcf…
  9. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 9
    SENIOR NOTE PROFILE (1) 4,294 Sr. Debt and Average Average Term Loan Term Loan: Maturity: Interest Rate: Convertibles 12.8 Billion 5.1 years 5.9% Other Sr. Notes ( in MM) 1,800 1,700 1,660 1,112 1,100 650 500 2014…
  10. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 10
    KEY STRATEGIC TENETS Financial discipline Balance capital expenditures with cash flow from operations Divest noncore assets and noncore affiliates Reduce financial and operational risk and complexity Achieve investment grade…
  11. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 11
    SUPPLEMENTAL OPERATIONAL DATA Credit Suisse Energy Summit 2/12/2014 12
  12. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 12
    OPERATIONS 2014E % of Total E&P Capex by Play(1) 2014E Avg. Operated Rig…
  13. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 13
    EAGLE FORD Avg. Well Cost ( in mm) Focused on continuous improvement Cycle time improvement of 20% in 2014 95% pad drilling utilization in 2014 Targeting further well cost improvement Plan to average 15 - 18 operated rigs in…
  14. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 14
    EAGLE FORD TRAJECTORY Maximizing investment efficiency Short-term rig reduction to develop inventory Future drilling approximately a 1:1 ratio of spuds to TIL Short-term reduction in oil volume growth during transition Operated…
  15. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 15
    UTICA Spud to Rig Release Cycle Times (days) Largest and most experienced operator Drilled more than 450 wells to date 25 cores tested in CHKs proprietary Reservoir Technology Center Improvement in EURs and PV through completion…
  16. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 16
    MARCELLUS NORTH Continue to set production records Net Production (mmcf/d) Dec13 net production 845 mmcf/d 2014 development plan targeting EURs 10 Bcf and ROR 100% 80% of wells drilling on existing pads in 2013; targeting 95% in…
  17. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 17
    HAYNESVILLE SHALE 570,000 gross acres delineated and HBP Avg. Well Cost ( in mm) Industry leading position in the core Targeted Range: 700 operated producing wells More than 550 drill site pads constructed 4,500 well inventory on…
  18. CREDIT SUISSE ENERGY SUMMIT – Chesapeake Energy Corp – slide 18
    CORPORATE INFORMATION CHESAPEAKE HEADQUARTERS PUBLICALLY TRADED SECURITIES CUSIP TICKER 9.5% Senior Notes due 2015 165167CD7 CHK15K 6100 N. Western Avenue 3.25% Senior Notes due 2016 165167CJ4 CHK16 Oklahoma City, OK 73118 6.25%…

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