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2014 Outlook – Chesapeake Energy Corp

Chesapeake Energy Corp · Feb 6, 2014 · 16 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.

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  1. 2014 Outlook – Chesapeake Energy Corp – slide 1
    2014 OUTLOOK FEBRUARY 6, 2014 2014 Outlook 2/6/2014 1
  2. 2014 Outlook – 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. 2014 Outlook – 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. 2014 Outlook – 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. 2014 Outlook – 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. 2014 Outlook 2/6/2014 6
  6. 2014 Outlook – 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. 2014 Outlook – 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. 2014 Outlook – 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. 2014 Outlook – Chesapeake Energy Corp – slide 9
    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…
  10. 2014 Outlook – Chesapeake Energy Corp – slide 10
    SUPPLEMENTAL OPERATIONAL DATA 2014 Outlook 2/6/2014 11
  11. 2014 Outlook – Chesapeake Energy Corp – slide 11
    OPERATIONS 2014E % of Total E&P Capex by Play(1) 2014E Avg. Operated Rig…
  12. 2014 Outlook – Chesapeake Energy Corp – slide 12
    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…
  13. 2014 Outlook – Chesapeake Energy Corp – slide 13
    UTICA Spud to Rig Release Cycle Times (days) Largest and most experienced operator Drilled over 450 wells to date 25 cores tested in CHKs proprietary Reservoir Technology Center Improvement in EURs and PV through completion design…
  14. 2014 Outlook – Chesapeake Energy Corp – slide 14
    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…
  15. 2014 Outlook – Chesapeake Energy Corp – slide 15
    HAYNESVILLE SHALE CHKs position includes: Avg. Well Cost ( in mm) 570,000 gross acres delineated and HBP Targeted Range: Industry leading position in the core 700 operated producing wells Over 550 drill site pads constructed…
  16. 2014 Outlook – Chesapeake Energy Corp – slide 16
    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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