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MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc.

EOG Resources, Inc. · Mar 17, 2015 · 32 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. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 1
    NYSE Stock Symbol: EOG Investor Relations Contacts Common Dividend: 0.67 Cedric W. Burgher, SVP Investor and Public Relations Basic Shares Outstanding: 548 Million (713) 571-4658, cburghereogresources.com David J. Streit, Director IR…
  2. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 2
    Focus on Returns Maximize Return on Capital Invested in 2015 - Drill Best Plays: Eagle Ford, Delaware Basin and Bakken - Defer Well Completions Focus on Reducing Costs, Improving Well Productivity Maintain Strong Balance Sheet Take…
  3. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 3
    Operations 31% YOY Crude Oil Production Growth and 17% Total Company Production Growth - Three-Year CAGR 37% Crude Oil Growth Increased Total Company Net Proved Reserves 18% Achieved 249% Total Proved Reserve Replacement* at…
  4. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 4
    Organic Growth Leader Exploration and Technology Focus - Core Competency and Sustainable Competitive Advantage Exploration - Generate New Plays Internally Capture Premier Acreage Early-Mover Strategy Drives Low Leasing Costs - Identify…
  5. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 5
    Eagle Ford Bakken/Three Forks Direct ATROR* at Flat 55 Oil Direct ATROR* at Flat 65 Oil Delaware Basin Leonard Delaware Basin Wolfcamp Oil and Combo Delaware Basin 2nd Bone Spring Sand 35% 60% Powder River Basin Midland…
  6. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 6
    Minimum Drilling Play Locations* Years** Eagle Ford 5,500 11 Bakken/Three Forks 580 7 Delaware Basin Leonard 1,600 40 Delaware Basin 2nd Bone Spring Sand Evaluating Delaware Basin Wolfcamp 1,100 75 DJ Basin 460 12 Powder River…
  7. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 7
    ROCE** ROE** 16.4% 15.6% 13.7% 13.7% 14.1% 13.3% 12.4% 12.4% 12.4% 10.5% 9.1% 7.9% 5.5% Integrateds Integrateds Integrateds Integrateds 4.3% 3.4% 3.7% Majors Majors Majors Majors EOG*…
  8. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 8
    Gathering, Processing and Other 8.3 Bn Exploration and Development Facilities 0.7 Exploration and Development 1.0 4.9-5.1 Bn 0.4 0.6 6.6 4.0 2014 2015* 80% of 2015* Capex Going to Top Plays: Eagle Ford, Delaware…
  9. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 9
    +30% Benefit of Delaying Well Completion Six Months at Various Prices +25% +20% ATROR** +15% +10% +5% +0% -5% 50 55 60 65 70 75 Oil Price After Six Months* * 45 oil price first six months. Based on Eagle Ford…
  10. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 10
    Increase in Rate of Return by Deferring Completion Even if Oil Price Does Not Recover for 24+ Months 15% 10% ATROR** 5% 0% 6 9 12 15 18 21 24 Months of Deferred Completion* * 45 oil price until completion, then 65…
  11. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 11
    Peak 30-Day Rate of Top 20 2014 Well Count of Top 20 Thousand Club* Contributors Thousand Club* Contributors Boed 2,500 250 2,000 200 1,500 150 1,000 100 500 50 0 0 EOG 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15…
  12. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 12
    ATROR* 100% Higher Rate of Return at 65 Oil Than at 95 Oil in 2012 75% 2015 50% 2012 25% 0% 45 55 65 75 85 95 Oil Price * See reconciliation schedule. EOG_0315-11
  13. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 13
    80 70 60 50 40 30 20 10 0 EOG Co. 1 Co. 2 Co. 3 Co. 4 Co. 5 Co. 6 Co. 7 Co. 8 Co. 9 Peer Co. 10 Co. 11 Co. 12 Co. 13 Co. 14 Avg Source: First Call, Company Reports. Employee count YE 2013. Peer Group: APA, APC, CHK,…
  14. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 14
    14 EOG Maintains Stable LOE Despite Rising Liquids Mix 12 10 EOG Peers 2013 LOE 8 LOE/Boe 2011 2014 6 2010 2012 2013 4 2 0 0% 10% 20% 30% 40% 50% 60% 70% 80% Liquids Production Source: Company filings.…
  15. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 15
    0.70 Committed to the Dividend 0.67 Increased Dividend Twice in 2014 0.60 16 Dividend Increases in 15 Years 0.50 0.50 0.40 0.38 0.34 0.31 0.32 0.29 0.30 0.26 0.20 0.18 0.12 0.10 0.08 0.05 0.06 0.03 0.04 0.04…
  16. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 16
    Total Company Net Proved Reserves Increased 18% to 2.5 BnBoe Total Company Net Proved Liquids Reserves Increased 26% to 1.6 BnBbls - Liquid Reserves 64% of Total Reserves Reserve Replacement Ratio* Before Revisions Due to Price 249%…
  17. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 17
    Largest Oil Producer and Acreage Holder in the Eagle Ford - 15 Rigs Operating for 2015 San Antonio - Completed 534 Net Wells in 2014; Plan 345 in 2015 Multi-Well Pad Development - Higher Capital Productivity Crude Oil - Lumpy…
  18. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 18
    Eagle Ford West Wells Average Cumulative Crude Oil Production* Improving Well Productivity* (Mbo) (Mbo) 70 70 60 60 Cumulative Oil Production Cumulative Oil Production High-Density Completion 50 2014 50 39% 2013…
  19. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 19
    Completed Well Cost* Average Drilling Days (MM) (Spud-to-TD) 7.2 14.2 6.2 6.1 ** 5.7 10.9 8.9 4.3 2012 2013 2014 2015 Plan 2012 2013 2014 Record * Normalized to 5,300 lateral. CWC = Drilling, Completion and Well-Site…
  20. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 20
    Brushy Canyon Net to EOG* Leonard A New Mexico High ROR Oil Play 550 MMboe Texas - Spacing Tests Underway Leonard B Red Hills Leonard/ Bone Spring 4,800 1st Bone Spring 2nd Bone Spring Over-Pressured Oil Play Evaluating -…
  21. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 21
    Confirmed Highly Over-Pressured Oil Window in Northern Delaware Basin NGLs - Oil Mix Rises to 50% 24% - Economics Competitive with Other EOG Oil Plays Oil Gas 50% 26% Focused on Best 140,000 Net Acres with Multiple Pay Zones -…
  22. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 22
    90,000 Net Acres Prospective in Northern Delaware Basin - Moving Into Full Development in 2015 - Largest Relative Increase in Capital in 2015 Completed 3 Operated Net Wells in 2014 NGLs - Plan to Complete 37 Net Wells in 2015 14%…
  23. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 23
    Advanced Completions Driving Higher Production from Tighter Spaced Wells - 90-Day Cumulative Production Up 17% in 2014 80,000 Net Acres Estimated Reserve Potential* 550 MMBoe, Net to EOG NGLs 26% Oil Typical Well Gas 50% 24% -…
  24. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 24
    Cumulative Crude Oil Production* Average Well Spacing (Feet) (Mbo) 60 50 1,030 Cumulative Oil Production 2014 910 40 2013 835 2012 30 2011 560 20 10 0 0 10 20 30 40 50 60 70 80 90 2011 2012 2013 2014 Producing…
  25. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 25
    Optimizing Completion Formula Across Field and Within Canada Laterals of Single Wells Stanley, ND State Line Bakken Core 90,000 Net Acres Bakken Lite - Antelope Extension 20,000 Net Acres Elm Coulee Bakken Core Encouraging…
  26. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 26
    Average Completed Well Cost* Average Drilling Days (MM) (Spud-to-TD*) 22.7 10.5 10.4 9.3 8.2 16.1 12.0 10.4 7.1 2012 2013 2014 2015 Plan 2012 2013 2014 4Q14 Record * Normalized to 10,000 lateral. CWC = Drilling,…
  27. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 27
    Play Net Type Acres Marcellus, Bradford County 46,000 Gas Haynesville 143,000 Gas and Combo Eagle Ford 63,000 Gas Barnett 298,000 Gas and Combo Uinta 94,000 Gas and Combo S. Texas Frio/Vicksburg 195,000 Gas and Combo Horn River 127,000…
  28. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 28
    Trinidad and Tobago Trinidad ATLANTIC Expect Stable Production in 2015 OCEAN TRINIDAD 4(a) Drill 2 Net Wells to Maintain Deliverability U(b) U(a) SECC VENEZUELA United Kingdom United Kingdom East Irish Sea…
  29. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 29
    Maintain Low Net Debt-to-Total Cap Ratio - Credit Ratings Moodys A3 / S&P A- Successful Efforts Accounting Zero Goodwill 4.1 Billion in Available Liquidity - 2.1 Billion Cash at December 31, 2014 - 2.0 Billion Credit Facility Undrawn…
  30. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 30
    4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 Co. 2 Co. 1 Co. 8 Co. 3 Co. 5 Co. 4 Co. 9 Peer Co. 11 Co. 6 Co. 12 Co. 14 Co. 13 Co. 7 Co. 10 Co. 15 EOG Co. 16 Avg Source: UBS Investment Research. Based on 49/Bbl…
  31. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 31
    Crude Oil* 2015 Bbld /Bbl February 1 to June 30 47,000 91.22 July 1 to December 31 10,000 89.98 Natural Gas* 2015 MMBtud /MMBtu March 1 to March 31 225,000 4.48 April 1 to April 30 195,000 4.49 May 1 to December 31 175,000…
  32. MARCH 2015 INVESTOR PRESENTATION – EOG Resources, Inc. – slide 32
    Rate-of-Return Focused Investments Drive Shareholder Value Creation 2014 ROE/ROCE Average of Majors, Integrateds and Independent E&Ps Ready to Grow When Prices Improve - Uncompleted Wells - High-Return Drilling Eagle Ford, Delaware…

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