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Q1 Earnings Conference Call and Webcast – Chevron Corp

Chevron Corp · Apr 27, 2012 · 21 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. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 1
    First Quarter 2012 Earnings Conference Call and Webcast Pat Yarrington Vice President and Chief Financial Officer Jeanette Ourada General Manager, Investor Relations April 27, 2012 2012 Chevron Corporation
  2. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 2
    Financial Highlights 1Q12 Earnings 6.5 Billion 1Q12 Earnings per Diluted Share 3.27 ROCE (trailing 12 months thru 3/31/12) 21.1% Debt Ratio (as of 3/31/12) 6.9% 1Q12 Share Repurchases 1.25 Billion 2012 Chevron…
  3. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 3
    Superior Dividend Growth Cumulative Increase Percent 400 CAGR = 6% CAGR = 11% 11.1 % 1Q12 Increase Chevron S&P 100 300 25 Consecutive 200 annual increases 100 100 Consecutive years of 0 1987 1995 2003 2011 dividend…
  4. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 4
    (1) Sources and Uses of Cash 1Q12 Billions 10 0.4 0.9 0.5 1.25 1.6 5 8.4 5.9 0 Sources Uses (12) Sources of Cash: Cash flow from operations Other Asset sales (2) Uses of Cash: Capital expenditures Dividends Share…
  5. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 5
    (1) Chevron Earnings 1Q12 vs. 4Q11 Millions Downstream Other 49 Upstream 865 434 6,471 5,123 4Q11 1Q12 Earnings Earnings (1) Net income attributable to Chevron Corporation. 2012 Chevron Corporation 6
  6. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 6
    U.S. Upstream Earnings 1Q12 vs. 4Q11 Millions Opex Other Realizations Volumes -20 -15 125 -166 1,605 1,529 4Q11 1Q12 Earnings Earnings 2012 Chevron Corporation 7
  7. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 7
    International Upstream Earnings 1Q12 vs. 4Q11 Millions Realizations Opex FX Liftings Other 250 -205 105 -195 555 4,642 4,132 4Q11 1Q12 Earnings Earnings 2012 Chevron Corporation 8
  8. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 8
    Worldwide Net Oil & Gas Production 1Q12 vs. 4Q11 MBOED Base Business Price & External Major Capital Effects Constraints Projects -7 -17 14 2,641 2,631 4Q11 1Q12 2012 Chevron Corporation 9
  9. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 9
    Net Production Sensitivity Guidance Total Net Production Net Production Sensitivity 25% PSC 75 to Brent Crude Oil Price 12% variable royalty Reported net production variance 50 and sensitivity to Brent based only on price…
  10. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 10
    U.S. Downstream Earnings 1Q12 vs. 4Q11 Millions Chemicals Other Opex -22 90 Volume 459 200 Margins 100 -204 295 4Q11 1Q12 Earnings Earnings 2012 Chevron Corporation 11
  11. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 11
    International Downstream Earnings 1Q12 vs. 4Q11 Millions Asset Sales Other -68 Opex 195 Margins 345 345 218 143 -55 130 4Q11 1Q12 Earnings Earnings 2012 Chevron Corporation 12
  12. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 12
    (1) All Other Net Charges 1Q12 vs. 4Q11 Millions -504 -553 Corporate Charges & Other Tax 4 45 4Q11 Net 1Q12 Net Charges Charges (1) Includes mining operations of coal and other minerals, and power generation. 2012…
  13. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 13
    Superior Financial Performance Segment ROCE 60 29 % 50 40 Upstream 30 3 3 1 2011 Adjusted ROCE 20 4 2 10 0 2007 2008 2009 2010 2011 35 14 % 25 Downstream 15 5 2 2 2011 Adjusted ROCE 2 5 6 1 Ranking Relative to…
  14. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 14
    Upstream Portfolio Delivers Strong Realizations and Competitive Cost Structure Realizations Upstream Costs per BOE per BOE 80 1 45 4 65 30 2 1 4 4 3 3 1 50 15 3 35 0 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011…
  15. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 15
    Upstream Portfolio Delivers Superior Cash Margins Oil and Gas Cash Margins Per BOE 38.86 40 35 2011 30 27.62 27.55 27.40 25.12 25 2010 2011 2011 22.55 2011 2011 2010 2010 2010 2011 20 2009 2010 2010 15 2009 2009 2009 2009…
  16. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 16
    Strategic Progress Upstream First production Nigeria: Usan project U.S. GOM: Caesar Tonga Australia Wheatstone LNG HOA with Chubu Electric Downstream Sanctioned Singapore additives plant expansion Continued asset…
  17. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 17
    Significant 2012 Progress on Major Capital Project Milestones Startup Final Investment Front-End Engineering Decision and Design Usan: Nigeria Mafumeira Sul: Angola Mad Dog II: DW GOM Tahiti-2: DW GOM TCO future growth and…
  18. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 18
    Questions Answers 2012 Chevron Corporation 19
  19. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 19
    Appendix Reconciliation of Chevrons Adjusted Earnings TOTAL UPSTREAM 1Q12 2011 4Q11 3Q11 2Q11 1Q11 2010 2009 2008 2007 Adjusted Earnings * (MM) 6,171 24,786 5,737 6,201 6,871 5,977 17,677 10,632 21,619 15,468 Adjustment Items:…
  20. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 20
    Reconciliation of Chevrons Adjusted Earnings TOTAL DOWNSTREAM, INCLUDING CHEMICALS 2011 4Q11 3Q11 2Q11 1Q11 2010 2009 2008 2007 Adjusted Earnings * (MM) 3,091 (61) 1,486 1,044 622 2,228 (67) 3,152 2,689 Adjustment Items: Asset…
  21. Q1 Earnings Conference Call and Webcast – Chevron Corp – slide 21
    Reconciliation of Chevrons Adjusted Earnings TOTAL DOWNSTREAM, EXCLUDING CHEMICALS 2011 4Q11 3Q11 2Q11 1Q11 2010 2009 2008 2007 Adjusted Earnings * (MM) 2,383 (200) 1,294 852 437 1,737 (314) 3,026 2,412 Adjustment Items: Asset…

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