Credit Suisse Energy Summit 2013 Gary Luquette President North America Exploration and Production February 6, 2013 Vail, Colorado 2013 Chevron U.S.A. Inc. All rights reserved.
Strong Safety Culture Total Days Away From Work Rate 0.20 Do it safely or not at all. 0.15 0.10 There is always 0.05 2 time to do it right. 2 2 1 0.00 2008 2009 2010 2011* 2012 1 CVX Ranking Relative to Competitors 1…
A Strong Global Upstream Portfolio 724 MBOED 579 MBOED 2012 Net Production By Region North America Europe, Eurasia and Middle East 2.6 MMBOED 2012 Proved Reserves By Region 612 MBOED 695 MBOED Africa & Latin America…
Upstream Continues to Execute the Right Strategies Grow profitably in core areas and build new legacy positions Operational excellence Maximizing value of base business Selection and execution of major capital projects Superior…
North America A Strong Business No. 1 in U.S. upstream earnings* No. 1 liquids producer in the U.S.* Beaufort Se Explore No. 1 producer in California No. 2 producer in the Permian Unconventio nal Resource Basin…
North America Diverse Portfolio with Robust Investment Opportunities 2012 Production 725 MBOED Expected C&E spend by asset class 2013 to 2017 Unconventional Heavy Oil Deepwater Shelf 14% Deepwater 35% 26% Heavy Oil 18% 7%…
WTI Discount Expected to Narrow post 2015 U.S. Crude Oil Production WTI Price Differential to Brent Million Barrels per Day Real 2011 /bbl 8 0 Alaska Offshore 6 -5 4 Other Lower-48 Onshore -10 2 -15 Tight Oil - -20…
U.S. Liquids-Rich Opportunity Queue Liquids-rich portfolio Liquids as % of Total Production compared to peer group 80 Continue to pull away 70 from competitor range 60 Project queue enables additional production growth 50…
U.S. Strong Financial Performance Peer-leading YTD 3Q 2012 Net Income per BOE net income per BOE 25 80% higher 20 net income per BOE than nearest competitor 15 10 5 0 CVX COP BP XOM Competitor analysis based on…
Gulf of Mexico Key Focus Area 235 MBOED (2012) Five drill ships Robust project queue and exploration program Shelf position provides strategic advantage 2013 Chevron U.S.A. Inc. All rights reserved. 11
Growth from Deepwater Gulf of Mexico Jack/St. Malo Big Foot Moccasin/Buckskin Startup in 2014 Startup in 2014 First exploration well drilled Production capacity of Production capacity of after moratorium lifted 177 MBOED 79 MBOED…
U.S. Diverse Portfolio of Unconventional Resources Thousand Acres 3.5 million net acres in (Chevron Net) 13 unconventional plays Utica Significant acreage with Wolfbone- Delaware wet gas and/or liquids potential Wolfcamp-…
Unconventional Plays West Texas & New Mexico NN EWEWMM EXI EXI COCO TEXA TEXASS Initial activity will focus on liquid rich plays Permia Permian n Basin Basin Midland Basin Midlan Midland Wolfcamp, Cline, Atoka d Basin…
Unconventional Plays Northeast U.S. CVX Acreage Marcellus: 700,000+ acres Marcellus Shale Early well results exceeding Utica Shale expectations Measured pace at current prices Building execution capability to intersect more…
Canada LNG opportunity 50 percent interest in Kitimat Grows our Global LNG portfolio Builds on our LNG capabilities Significant resource and acreage capture in the proved and emerging Horn and Liard basins Long term economic…
Well-Positioned for Today and Tomorrow Diverse Portfolio Oil-Weighted Advantage Strong Project Queue Significant Growth Opportunities 2013 Chevron U.S.A. Inc. All rights reserved. 17
Questions & Answers 2013 Chevron U.S.A. Inc. All rights reserved.
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