UBS Global Oil & Gas Conference 2012 Gary Luquette President North America Exploration and Production May 23, 2012 Austin, Texas 2012 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 2 2 time to do it right. 0.05 2 1 0.00 2007 2008 2009 2010 2011 1 CVX Ranking Relative to Competitors 1…
A Strong Global Upstream Portfolio 748 MBOED 617 MBOED 2011 Net Production By Region North America Europe, Eurasia and Middle East 2.7 MMBOED 2011 Proved Reserves By Region 656 MBOED 653 MBOED Africa & Latin America…
North America A Strong Business No. 1 in U.S. upstream earnings* Beaufort Sea No. 1 producer in California Explore Mackenzie Delta No. 2 oil producer in the Permian Basin Unconventio nal Resource No. 3 producer in the U.S.…
North America Diverse Portfolio with Robust Investment Opportunities 2011 Production 750 MBOED Expected C&E spend by asset class 2012 to 2017 Unconventional Shelf Heavy Oil Deepwater Deepwater 15% 40% Heavy Oil 18% 26%…
U.S. Liquids-Rich Opportunity Queue Liquids-rich portfolio Liquids as % of Total Production compared to peer group 80 Continued to pull away 70 from competitor range in 2011 60 Project queue enables additional production growth…
U.S. Strong Financial Performance Peer-leading 2011 Net Income per BOE net income per BOE 30 30% higher 25 net income per BOE than 20 closest competitor 15 10 5 0 CVX RDS BP COP XOM 2012 Chevron U.S.A. Inc. All rights…
U.S. Diverse Portfolio of Unconventional Resources 3 million net acres in Thousand Acres 13 unconventional plays (Chevron Net) Utica Significant acreage with Wolfcamp - Delaware wet gas and/or liquids potential Wolfcamp -…
Unconventional Play West Texas NE W ME X I CO TE X AS Initial activity will focus on Permian liquid rich plays Basin Wolfcamp Play - Midland Basin Midland Basin 300,000+ net acres 200+ wells in 2012 Delaware Wolfcamp Play -…
Unconventional Play 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…
California Legacy Production Driven by Heavy Oil Over a century of legacy assets Coalinga Portion of California 7 billion barrels of oil-equivalent: shown in this satellite image. recovered net production San Ardo Kettleman 8…
Gulf of Mexico Key Focus Area 244 MBOED (2011) Five drill ships Robust project queue and exploration program Shelf position provides strategic advantage 2012 Chevron U.S.A. Inc. All rights reserved. 13
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…
Technology to Increase Recovery in the Lower Tertiary 20% recovery factor < 10% recovery factor Gas Injection for Optimized Enhanced Oil Waterflood Recovery Long Life Seafloor In-Well Pumps Natural Flow Pumps 2012…
Well-Positioned for Today and Tomorrow Diverse Portfolio Oil-Weighted Advantage Strong Project Queue Significant Growth Opportunities 2012 Chevron U.S.A. Inc. All rights reserved. 16
Questions & Answers 2012 Chevron U.S.A. Inc. All rights reserved.
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