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May 2014 Investor Presentation – EOG Resources, Inc.

EOG Resources, Inc. · May 29, 2014 · 35 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. May 2014 Investor Presentation – EOG Resources, Inc. – slide 1
    NYSE Stock Symbol: EOG Investor Relations Contacts Common Dividend: 0.50 Maire A. Baldwin, Vice President IR Basic Shares Outstanding: 546.5 Million (713) 651-6364, Fax (713) 651-6473 mbaldwineogresources.com David J. Streit, Director…
  2. May 2014 Investor Presentation – EOG Resources, Inc. – slide 2
    Best Hz Crude Oil Assets in North America Strong Organic Crude Oil Production Growth - 2011 +52% - 2012 +39% 40% 4-Year CAGR - 2013 +40% - 2014E* +29% Differentiators Strong Organic Liquids Growth Driven by Crude Oil, Not…
  3. May 2014 Investor Presentation – EOG Resources, Inc. – slide 3
    1Q 2014 Increased FY Oil Growth to 29%* and Total Company Growth to 12%* Delivered 42% YOY Total Company Oil Growth and 18.5% Overall Growth Grew Non-GAAP EPS 56%,** EBITDAX 30%** and Discretionary Cash Flow 28%** Net Debt-to-Total…
  4. May 2014 Investor Presentation – EOG Resources, Inc. – slide 4
    Big Three Shale Plays Eagle Ford Eagle Ford, Bakken,** Permian*** January 2011 - December 2013 January 2010 December 2013 EOG Cumulative Gross Oil Production (MMbo) Cumulative Gross Oil Production (MMbo) EOG 200 100 80…
  5. May 2014 Investor Presentation – EOG Resources, Inc. – slide 5
    Eagle Ford Bakken/Three Forks Direct After-Tax Rate of Return* Delaware Basin Leonard DJ Basin Codell PRB Parkman PRB Turner 100% Delaware Basin Wolfcamp 60% DJ Basin Niobrara Midland Basin Wolfcamp 30% Barnett Combo…
  6. May 2014 Investor Presentation – EOG Resources, Inc. – slide 6
    ROE ROCE 17.9% 15.6% 14.3% 12.4% 11.8% 9.4% 2012* 2013* 2014E** 2012* 2013* 2014E** * See reconciliation schedule. ** Goldman Sachs estimates May 16, 2014, 96.50 WTI and 4.25 Henry Hub in 2014. EOG_SB_0514-5
  7. May 2014 Investor Presentation – EOG Resources, Inc. – slide 7
    2013 ROE 2013 ROCE 15.6% 12.4% 12.0% 9.9% 10.0% 9.8% 9.5% 8.2% 8.1% 7.9% 9.4% 9.0% 7.7% 7.7% 7.5% 7.4% 8.3% 8.1% EOG* Co. 1 Co. 2 Co. 3 Peer Co. 4 Co. 5 Co. 6 Co. 7 EOG* Co. 1 Co. 2 Peer Co. 3 Co. 4 Co. 5 Co. 6 Co. 7 Avg…
  8. May 2014 Investor Presentation – EOG Resources, Inc. – slide 8
    Tactical - 2014 Fund Capex with Discretionary Cash Flow Reduce Net Debt with Free Cash Flow Strategic - 2015+ Increase Dividend Increase Capex - Increase E&P Activity in Highest ATROR Plays - Increase Portfolio of Oil/Liquids…
  9. May 2014 Investor Presentation – EOG Resources, Inc. – slide 9
    2,600 Bakken and Eagle Ford 75% of Current Horizontal Crude Oil Production* 2,400 2,200 Rate of 2,000 Eagle Ford Growth Slowing 1,800 1,600 1,077 MBod* 1,400 1,200 1,000 800 Bakken 600 890 MBod* 400 200 0 Jan Jul Jan…
  10. May 2014 Investor Presentation – EOG Resources, Inc. – slide 10
    8,033 7,948 7,902 8,000 Rate of Growth is Slowing 8,005 7,500 7,067 7,000 2013 Growth = 0.84 MMbod 6,500 6,000 6,028 2012 Growth = 1.04 MMbod 5,500 2011 2012 2013 2014 * Source: EIA. Growth calculated as December to…
  11. May 2014 Investor Presentation – EOG Resources, Inc. – slide 11
    Extending Our Lead in Oil Increased 2014 Production Targets - Grow Crude Oil 29%* and Total Production 12%* YOY Capital Spending Targeted to High ATROR** Oil Plays - Eagle Ford, Bakken/Three Forks and Leonard - PRB Parkman and…
  12. May 2014 Investor Presentation – EOG Resources, Inc. – slide 12
    Codell 72,000 Net Acres in Sweet Spot Pole Creek 525-2413H Estimated Reserve Potential* 125 MMBoe, Net to EOG Jubilee 513-0820H Jubilee Target Well Economics for 9,000 Lateral 103-0433H - 695 Mboe EUR/Well, Gross; 560 Mboe, NAR…
  13. May 2014 Investor Presentation – EOG Resources, Inc. – slide 13
    Niobrara Jubilee 50,000 Net Acres in Sweet Spot 69-04H Jubilee Estimated Reserve Potential* 85 MMBoe, Net to EOG 30-07H Windy Target Well Economics for 9,000 Lateral 01-18H - 430 Mboe EUR/Well, Gross; 355 Mboe, NAR - 9 MM CWC…
  14. May 2014 Investor Presentation – EOG Resources, Inc. – slide 14
    Wyoming Parkman Bolt Bolt 30,000 Net Acres in Sweet Spot 429-05H 404-05H Estimated Reserve Potential* 75 MMBoe, Net to EOG Target Well Economics for 7,300 Lateral - 850 Mboe EUR/Well, Gross; 680 Mboe, NAR - 5 MM CWC and 100%…
  15. May 2014 Investor Presentation – EOG Resources, Inc. – slide 15
    Wyoming Turner 63,000 Net Acres in Sweet Spot Bolt 22-05H Estimated Reserve Potential* 115 MMBoe, Net to EOG Target Well Economics for 8,200 Lateral - 860 Mboe EUR/Well, Gross; 705 Mboe, NAR - 7.5 MM CWC and 100% Direct ATROR**…
  16. May 2014 Investor Presentation – EOG Resources, Inc. – slide 16
    Majority of Capex Increase Going to Top Plays: 2014* Eagle Ford, Bakken, Leonard, DJ and PRB 10 Gathering, Exploration and 9 8.1 to 8.3 Bn Processing Development 8 and Other Facilities 7.1 Bn Gathering, 7 Exploration & 10% 11%…
  17. May 2014 Investor Presentation – EOG Resources, Inc. – slide 17
    (Mbod) 300 284 250 64 Actual 200 62 150 45 100 38 55 20 50 0 2009 2010 2011 2012 2013 2014E* * Based on mid-point of full-year 2014 production estimates as of May 5, 2014. EOG_SB_0514-17
  18. May 2014 Investor Presentation – EOG Resources, Inc. – slide 18
    2014 Drilling Oil Net Wells Years* Eagle Ford 520 12 Bakken/Three Forks 86 8 Delaware Basin Leonard 40 40+ DJ Basin 39 12 Powder River Basin 34 8 Combo Delaware Basin Wolfcamp 14 75+ Midland Basin Wolfcamp 10 50+ 15 Years…
  19. May 2014 Investor Presentation – EOG Resources, Inc. – slide 19
    2011 2012 2013 2014E* 2015E - 2017E Crude Oil and Condensate 52% 39% 40% 29% Continued Best-in-Class NGLs 39% 32% 17% 12% Double-Digit Growth Total Company Liquids 48% 37% 34% 25% North American Gas -7% -9% -13% -6% Flat Other…
  20. May 2014 Investor Presentation – EOG Resources, Inc. – slide 20
    88% 88% 86% NGLs 79% 76% 71% 72% 59% 53% Oil 47% 41% 29% 28% 24% 21% 14% 12% 12% 2006 2007 2008 2009 2010 2011 2012 2013 2014E** Liquids (Crude Oil and NGLs) Natural Gas * 2006 - 2013 based on North American…
  21. May 2014 Investor Presentation – EOG Resources, Inc. – slide 21
    Annual Dividend Rate Net Debt-to-Total Cap*** 0.50 30% 33% 29% 26% 0.375 23% 0.32 0.34 21% 0.31 2010* 2011* 2012* 2013* 2014E** 2010 2011 2012 2013 1Q14 * Adjusted for 2-for-1 stock split effective March 31, 2014. **…
  22. May 2014 Investor Presentation – EOG Resources, Inc. – slide 22
    Largest Oil Producer and Acreage Holder in the San Antonio Eagle Ford - 1Q 2014 Oil Production Up 62% YOY - 207 MBoed, Net at March 31, 2014 Crude Oil Window Continued Outstanding Well Results Across Acreage (IP Rate) Wet Gas Window…
  23. May 2014 Investor Presentation – EOG Resources, Inc. – slide 23
    Big Fields Get Bigger Increased Estimated Potential Reserves* by 45% Reserve Potential* Since Discovery (BnBoe) Increased Total Well Count to 7,200, Net Locations - 12-Year Inventory of 60% ATROR** Drilling Locations 3.2 - Average…
  24. May 2014 Investor Presentation – EOG Resources, Inc. – slide 24
    215 152 127 74 33 2009 2010 2011 2012 2013 EOG_SB_0514-24
  25. May 2014 Investor Presentation – EOG Resources, Inc. – slide 25
    Atascosa County Kaiser Sr. A Unit 1H, B Unit 1H, C Unit 1H 2,530 - 2,820 Bopd Michael Wheeler Unit 3H, 4H Gonzales County 2,295 and 2,240 Bopd Riley Potts Unit 1H Neets Unit 1H 2,520 Bopd 4,940 Bopd Magoulas Unit 1H San Antonio…
  26. May 2014 Investor Presentation – EOG Resources, Inc. – slide 26
    Transformed into High ROR Crude Oil Growth Play Canada New Frac Technology Improves Recovery and Returns; Stanley, ND State Line Delivering 100% Direct ATROR* from Core and Antelope 86 MBoed Gross Production YE 2013, 38% Increase…
  27. May 2014 Investor Presentation – EOG Resources, Inc. – slide 27
    Average Cumulative Oil Production* Average 90-Day Cumulative Production* (30 Days) (MBo) (Bo) 45,000 40,000 35,000 2014 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…
  28. May 2014 Investor Presentation – EOG Resources, Inc. – slide 28
    Midland Basin New Mexico Texas Delaware Basin Leonard Wolfcamp Wolfcamp OOIP** per Net Potential Net Drilling Potential Section Reserves*** Delaware Basin Acres Years* Locations (MMBoe) (MMBoe) Leonard 73,000 40…
  29. May 2014 Investor Presentation – EOG Resources, Inc. – slide 29
    Both a Production and Exploration Play EOGs 3rd Best ROR Play NGLs 26% 73,000 Net Acres Oil - At Least 3 Potential Pay Zones Gas 50% 24% Estimated Reserve Potential* 550 MMBoe, Net to EOG EUR/Well 500 MBoe, Gross; 400 MBoe, NAR…
  30. May 2014 Investor Presentation – EOG Resources, Inc. – slide 30
    134,000 Net Acres - New Leases and Trades Have Increased Position - 3 Potential Pay Targets Estimated Reserve Potential* 800 MMBoe, Net to EOG NGLs Oil - Based on Low Initial Recovery Estimate, 2% - 3% 33% 31% Operations Gas…
  31. May 2014 Investor Presentation – EOG Resources, Inc. – slide 31
    Play Net Type Acres Haynesville 143,000 Gas and Combo Marcellus, Bradford County 46,000 Gas S. Texas Frio/Vicksburg 195,000 Gas and Combo Eagle Ford 68,000 Gas Barnett 298,000 Gas and Combo Uinta 94,000 Gas and Combo Horn River 127,000…
  32. May 2014 Investor Presentation – EOG Resources, Inc. – slide 32
    Trinidad and Tobago Trinidad ATLANTIC Expect Full Contract Deliverability in 2014 OCEAN TRINIDAD 4(a) 2014 Drilling Program to Maintain Future U(b) U(a) Deliverability SECC - 3-Well Development Program VENEZUELA…
  33. May 2014 Investor Presentation – EOG Resources, Inc. – slide 33
    Maintain Low Net Debt-to-Total Cap Ratio - Credit Ratings Moodys A3 / S&P A- Successful Efforts Accounting Zero Goodwill YE 2013 Dividend Increase 33% - 15 Increases in 15 Years - Largest Increase to Date EOG Reserves Within 5% of…
  34. May 2014 Investor Presentation – EOG Resources, Inc. – slide 34
    Crude Oil* 2014 Bbld /Bbl May 1 to June 30 176,000 96.45 July 1 to December 31 74,000 95.37 Natural Gas* 2014 MMBtud /MMBtu June 1 to December 31 330,000 4.55 2015 January 1 to December 31 175,000 4.51 * As of May 5, 2014.…
  35. May 2014 Investor Presentation – EOG Resources, Inc. – slide 35
    Rate-of-Return Focused Investments Drive Shareholder Value and Growth Exploration Focus - Premier Acreage Positions - Early-Mover Strategy Drives Low Leasing Costs Completions Designed In-House Using Self-Sourced Materials -…

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