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Q2 Earnings Conference Call and Webcast – Chevron Corp

Chevron Corp · Jul 29, 2011 · 20 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. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 1
    Second Quarter 2011 Earnings Conference Call and Webcast George Kirkland Vice Chairman and Executive Vice President, Upstream and Gas Pat Yarrington Vice President and Chief Financial Officer Jeanette Ourada General Manager,…
  2. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 2
    Financial Highlights 2Q11 Earnings 7.7 Billion 2Q11 Earnings per Diluted Share 3.85 ROCE (trailing 12 months thru 6/30/11) 19.4% Debt Ratio (as of 6/30/11) 9.1% 2Q11 Share Repurchases 1.0 Billion 2011 Chevron 3
  3. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 3
    (1) Sources and Uses of Cash Billions 2Q11 YTD 2011 12 25 0.7 2.0 1.0 20 1.75 1.6 3.0 15 4.5 6 10.7 10 20.5 7.8 12.4 5 0 0 Sources Uses Sources Uses (2) Sources of Cash: Cash flow from operations Other net sources…
  4. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 4
    (1) Chevron Earnings 2Q11 vs. 1Q11 Millions Other Downstream Upstream 205 422 894 7,732 6,211 1Q11 2Q11 Earnings Earnings (1) Net income attributable to Chevron Corporation. 2011 Chevron 5
  5. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 5
    U.S. Upstream Earnings 2Q11 vs. 1Q11 Millions Other Realizations Opex -55 136 420 1,950 1,449 1Q11 2Q11 Earnings Earnings 2011 Chevron 6
  6. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 6
    International Upstream Earnings 2Q11 vs. 1Q11 Millions Opex Realizations Exploration Expense Other -205 -140 -137 875 4,528 4,921 1Q11 2Q11 Earnings Earnings 2011 Chevron 7
  7. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 7
    Worldwide Net Oil & Gas Production 2Q11 vs. 1Q11 MBOED Base Business Price & External Effects Constraints -8 Major Capital Projects -66 8 2,760 2,694 1Q11 2Q11 2011 Chevron 8
  8. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 8
    U.S. Downstream Earnings 2Q11 vs. 1Q11 Millions Indicator Margins Opex Other -35 -58 215 564 442 1Q11 2Q11 Earnings Earnings 2011 Chevron 9
  9. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 9
    International Downstream Earnings 2Q11 vs. 1Q11 Timing Millions Effects FX Other -55 35 Margins 155 480 445 445 165 180 1Q11 2Q11 Earnings Earnings 2011 Chevron 10
  10. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 10
    (1) All Other Net Charges 2Q11 vs. 1Q11 Millions Corporate -183 Charges & Other -388 Tax 54 151 1Q11 Net 2Q11 Net Charges Charges (1) Includes mining operations of coal and other minerals, and power generation.…
  11. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 11
    Upstream Update 2011 Chevron
  12. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 12
    Superior Financial Performance 30 1 2Q11 Adjusted 25 1 1 29.01 1 Earnings Per BOE 20 1 2 15 3 10 2 5 0 2006 2007 2008 2009 2010 1Q11 2Q11 60 1H11Adjusted 32% ROCE 40 2 2 2 1 20 2 3 1 Ranking Relative to…
  13. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 13
    2011 Production Outlook 1H 2011 production: Net Production MBOED 2.73 MMBOED at 111/bbl 3,000 2.76 MMBOED at 79/bbl Original Outlook 2,790 MBOED Revised full year production 2,750 outlook: 2.73 MMBOED at 111/bbl 2,500 2.76…
  14. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 14
    Positioned for Long Term Growth Net Production Guidance of 1% CAGR from MBOED 2010 to 2014 is unchanged 3,000 Production target of 3.3 MMBOED at 79/bbl in 2017 unchanged 2,000 1% per year 2010-2014 Growth projects on track…
  15. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 15
    2011 Exploration Activity Duvernay Poland Lagavulin Coronado China Deepwater Bears Hump Buckskin Liberia Moccasin Moho Bilondo Orthrus-2 Frade Angola Nigeria Acme West Currently Drilling Vos Key 2011 Wells…
  16. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 16
    Chief and Tug Hill An Expanding Position in the Marcellus Acquired additional 228,000 net Marcellus Acreage Map acres of high quality Marcellus Pennsylvania shale Existing New Strong synergies with current Ohio operations…
  17. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 17
    Upstream Progress Russia/Kazakhstan Start of construction for Caspian Pipeline expansion Australia Gorgon 25% complete Gorgon Drilling first development well Wheatstone Signed LNG SPAs with Tokyo Electric Wheatstone FID on…
  18. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 18
    Strategic Progress Upstream Continued progress on MCPs Resumed drilling activity in GOM Acquired new resource opportunities Downstream Government approval for UK/Ireland refining and marketing asset sales Progress on…
  19. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 19
    Questions Answers 2011 Chevron 20
  20. Q2 Earnings Conference Call and Webcast – Chevron Corp – slide 20
    Appendix Reconciliation of Chevrons Adjusted Earnings TOTAL UPSTREAM 1H11 2Q11 1Q11 2010 2009 2008 2007 2006 Adjusted Earnings * (MM) 12,848 6,871 5,977 17,677 10,632 21,619 15,468 13,493 Adjustment Items: Asset Impairments &…

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