Credit Suisse 2011 Energy Summit Bob Daniels Sr. Vice President, Worldwide Exploration February 8, 2011
Our Strategy Is Working Identify and Commercialize Exploration in High- Resources Potential Proven Basins 3+ BBOE 25+ Deepwater Identify and of Proved Exploration in Exploration and Commercialize Reserves in High-Potential…
Converting Resources to Value Monetized Shales 1.5B 10.5+ BBOE 10+ BBOE Accelerate Production Exploration De-Risked Exploration W. Africa and Reserve Growth 3.5+ BBOE Shales 3.5+ BBOE Brazil De GOM -R Prices and Service isk…
Our Portfolio is Delivering Capital-Efficient Base Replaces Production Mega Projects Add Significant Oil Reserves Shale Plays Are a New Source for Growth 3+ BBOE of Proved Reserves in Five Years 4 3+ BBOE 2.4 BBOE BBOE…
Raising the Performance Bar 7 - 9% Five-Year Production CAGR 150+% Reserve Replacement F&D Less Than 15/BOE Transition Discoveries to Development Line of Sight to Significant Production Growth 1,000 MBOE/d 700 400 2010…
Visible Growth from Mega Projects Additional Project Potential Lucius Wahoo 1,300 Tweneboa / Enyenra Heidelberg Vito Itaipu 1,000 MBOE/d Mahogany East Next Generation 700 Mozambique Gas Mercury Itauna Shenandoah 400 2010…
Our Track Record of Delivery Continues Exceeded 2010 Expectations March 2010 2010 Midpoint Results Record Sales Volumes (MMBOE) 228.5 235 Capital Expenditures, Including Expensed G&G ( Billion)…
Enhanced Liquidity and Financial Flexibility Ended 2010 with 3.7 Billion of Cash on Hand Access to 5-Year 5 Billion Undrawn Secured Facility Replaced and Upsized 1.3 Billion Revolver Maturing in 2013 Extended Near-Term Debt…
Capital-Efficient Base* Foundation for Growth…
Capital-Efficient U.S. Onshore Portfolio 4Q10 Net Sales 2.4 Bcfe/d Base Assets Net Acreage 15 Million 25 Tcfe Resource Base Scaleable Programs Enhancing Margins and Efficiencies Accelerating Shale Value Premier Acreage Position…
Marcellus Shale Net Risked Resources 6+ Tcf Marcellus Marcellus Shale Shale Play Play Results Gross Acreage: 750,000 NEW YORK Net Acreage: 260,000 IPs 7+ MMcf/d PENNSYLVANIA 4 - 6 Bcf EUR per Well PENNSYLVANIA 2010 Activity…
Eagleford Shale Net Risked Resources 450+ MMBOE Gross Acreage: 400,000 Net Acreage: 300,000 APC ACREAGE 2010 DEVELOPMENT AREA 400+ MBOE EURs MAVERICK 0 10 Miles 2,000+ Drill Sites ZAVALA 85% of Value from Liquids Excellent…
Our Big Boys are BIG 1+ BBOE Net Risked Resources Gross Resource Potential in MMBOE Itaipu Wahoo 200+ 300+ Moz. Gas Vito Dev Cost/BOE Heidelberg 200+ 200+ 300+ Jubilee El Merk 4+ Tcf 600- 600-1,500 Lucius 500-…
Focused Exploration in High-Potential Basins 60% Offshore Exploration Success Rate in 2010 100% Offshore Appraisal Success Rate in 2010 Deep, Multi-Year Inventory of Identified Prospects WEST SE SEASIA WESTAFRICA AFRICA 7 ASIA…
Creating Value from Exploration 2004 Through June 2010 Exploration Capital Spent 5.6 Billion Net Resources Discovered 1.8 BBOE TUBARO LAGOSTA Monetized 500 MMBOE 6 Billion ITAUNA MERCURY Booked 150 MMBOE 3 Billion BADIK…
Brazil Exploration Miles Discoveries Gross Acreage: 1 Million Wahoo BM-C-32 Itaipu 33% WI Itauna ITAIPU ITAIPU DISCOVERY Coalho DISCOVERY Esprito COALHO COALHO Santo Basin Near-Term Activity DISCOVERY DISCOVERY Itaipu…
Jubilee First Oil Achieved in 3.5 Years World-Class Development in Record Time Gross Acreage: 0.6 Million Unit WI: 23.5% Operator Resource Range of ANADARKO WI BLOCKS DISCOVERY FIELD WATER INJECTOR GAS INJECTOR 600 - 1,500 MMBOE…
Ghana: Big and Getting Bigger Gross Acreage: 0.6 Million Miles PROSPECT 0 10 3 Additional Major Discoveries DISCOVERED FIELD SUCCESSFUL WELL 2011 PLANNED EXPL DRILLING Mahogany East Tweneboa OWO OWO TWENEBOA TWENEBOA 2 2…
West Africa: Multi-Billion-Barrel Potential 30+ Jubilee-Type Prospects Spanning 7 MM Acres Active Exploration/Appraisal Program Outside Ghana 3 - 5 Wells Planned in 2011 APC ACREAGE SIERRA LEONE VENUS VENUS MERCURY MERCURY…
Mozambique: Emerging Growth Opportunity Gross Acreage: 6 Million 4 Major Discoveries APC APC Operator Mnazi Mnazi Bay Bay Operator OFFSHORE OFFSHORE AREA AREA 11 Tubaro (APC (APC WI WI 36.5%) 36.5%) Lagosta WINDJAMMER…
South China Sea Deepwater Exploration Gross Acreage: 7 Million Liwan 21-1 Prospect BOHAI BOHAI BAY BAY 64,000 Acre 4-Way Closure Supported by Amplitudes Liuhua Liuhua 29-1 29-1 Discovery Discovery SOUTH SOUTH CHINA CHINA SEA…
Built to Deliver Accelerating Value from Capital-Efficient Base Reaching Critical Mass in Shale Plays Advancing Sanctioned Mega Projects Transitioning Discoveries to Development Extending World-Class Exploration Program PRODUCTION…