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2013 YEAR END UPDATE – Newfield Exploration Co.

Newfield Exploration Co. · Feb 25, 2014 · 25 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. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 1
    NFX 2013 Year-End Update February 25, 2014 NFX is periodically published to keep stockholders aware of current operating activities at Newfield. It may include estimates of expected production volumes, costs and expenses, recent…
  2. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 2
    Table of Contents 2013 Highlights 3 Year-end 2013 Proved Reserves 5 2014 Outlook 6 Anadarko Basin 9 Uinta Basin 15 Williston Basin 19 Guidance 21 Hedge Summaries 22 All information refers to Continuing Operations 2
  3. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 3
    2013 Highlights Improved organizational focus 2013 Production by Product Continued to refine portfolio Sold Malaysian business for 898 million China sale process ongoing Superior operational execution 52% 48% Increased production…
  4. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 4
    Full-Year Drilling Campaign Summary Avg. Avg. Avg. Avg. Well Type Wells Gross IP Gross Gross Gross (24-Hours) 30-Day Rate 60-Day Rate 90-Day Rate SCOOP Wet Gas (1) 15 1,903 BOEPD 1,439 BOEPD 1,424 BOEPD 1,430 BOEPD SCOOP Oil 7 1,511…
  5. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 5
    Year-end 2013 Domestic Proved Reserves Pre-tax PV-10 up 44% y-o-y to 6.6 billion Proved Reserves by Area Liquids reserves up 26% y-o-y 52% are liquids 28% 36% Proved developed reserves increased 15% y-o-y 5% 20% 11% Reserves are…
  6. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 6
    2014 Capital Expenditures and Production Guidance 2014 CAPEX Williston Basin 14 Cap-ex: 330 MM 1.6 B* 4 operated rigs 14 prod: 6 MMBOE, up 40% 11% 25% 20% Uinta Basin 14 Cap-ex: 400 MM 44% 3-5 operated rigs 14 prod: 8.6…
  7. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 7
    Delivering Results Liquids-focused production growth Cash flow growth Improving efficiencies Liquids Growth Cash Flow Growth 40 1600 MMBOE (net) 30 1200 MM 20 800 10 400 0 0 2013 2014e 2015e 2016e 2013 2014e 2015e…
  8. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 8
    Production by Area 140 Eagle Ford 120 Williston Anadarko* 100 Uinta MBOEPD (net) 80 60 40 20 0 1Q13 2Q13 3Q13 4Q13 1Q14e 2Q14e 3Q14e 4Q14e 1H15e 2H15e 2016e *Includes SCOOP and STACK; Excludes Granite Wash 8
  9. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 9
    Anadarko Basin Expands Liquids Portfolio ANADARKO BASIN* TOTAL Resource Total Remaining TOTAL Resource Total Remaining YE 2013 Proved Reserves + Gross Proved Reserves + Gross Play Type Net Acres Proved Net Unrisked SXL Locations Net…
  10. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 10
    Anadarko Basin Defining the Resource Potential STACK Spacing Branch Pad (SCOOP Wet Gas) Woodford Plays Upper Meramec 6-well average: 700 of Hydrocarbon Interval STACK 6,750 Lateral length 150,000 net acres 2,072 BOEPD avg.…
  11. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 11
    Anadarko Basin* Drive liquids production growth Anadarko Daily Production 100% production growth in 2014 50,000 Liquids Gas 100% liquids growth 40,000 85% oil growth BOEPD (net) 30,000 SCOOP Wet Gas in development 20,000…
  12. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 12
    SCOOP Drilling Efficiencies (1Q13-4Q13) Increased lateral lengths by 28% Decreased cost per gross perforated interval (GPI) by 17% Best-in-Class SCOOP well TDd in 26 days - Gregory 5H-28 (39%WI) - 19,348 Total measured depth 8.1 MM…
  13. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 13
    Anadarko Basin SCOOP Development Type Curves SCOOP Wet Gas Economics (SXL) 1,400 Drilling Program 2013: 14 Operated Wells 1,200 SCOOP Wet Gas (5,900') 2014e: 20 Operated Wells 1,000 14,000 16,000 Depth SCOOP Oil (8,900')…
  14. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 14
    Anadarko Basin STACK 700 STACK Economics (SXL) Development Type Curve Drilling Program 600 STACK Type Curve (9,000') 2013: 8 Operated Wells 500 2014e: 18 Operated Wells 8,000 11,000 Depth 400 BOEPD 9-12 MM Gross Well Cost…
  15. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 15
    Uinta Basin Developing GMBU waterflood Uinta Daily Production 200 infill wells 30,000 Liquids Gas Increasing water injection volumes Expanding 10-acre infill pilots BOEPD (net) 20,000 Assessing high-potential plays in Central…
  16. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 16
    Uinta Basin Greater Monument Butte Unit (GMBU) 20-Acre Infill Green River Waterflood 120 Development Type Curve Drilling Program 2013: 204 Operated Wells 100 2014e: 200 Operated Wells 5,000 Avg. Depth 80 1.13 MM Gross Well Cost…
  17. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 17
    Uinta Basin Central Basin Uteland Butte Uteland Butte Economics (SXL) Development Type Curve Drilling Program 2,000 2013: 5 Operated Wells 2014e: 9 Operated Wells 800 MBOE 8,750 Avg. Depth 1,500 600 MBOE 10-12 MM Gross Development…
  18. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 18
    Uinta Basin Central Basin Wasatch SXL Wasatch Economics (SXL) Development Type Curve Drilling Program 2900 2013: 1 Operated Wells 1,200 MBOE 2014e: 4-5 Operated Wells 800 MBOE 10,000 Avg. Depth 2200 13-15 MM Gross Development Well…
  19. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 19
    Williston Basin In full-field development Williston Daily Production 35% production growth in 2014 20,000 Liquids Gas Improved efficiencies through pad drilling 15,000 BOEPD (net) Targeting Middle Bakken and 1st bench 10,000 of…
  20. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 20
    Williston Basin TYPE CURVES (10,000 Lateral) Bakken Economics (SXL) 1000 Drilling Program Bakken TFS 2013: 37 Operated Wells 800 2014e: 43 Operated Wells BOEPD 11,000 Avg. Depth 600 8.4 MM Gross Well Cost 450-950 MBOE EUR…
  21. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 21
    Production, Cost & Expense Guidance* 2013 2014e 1Q14e Production: Oil (MMBO) 14.2 16.4 18.2 3.8 3.9 NGLs (MMBbls) 5.2 7.8 8.3 1.5 1.7 Natural Gas (BCF) 124 119 - 129 28.5 29.0 Total (MMBOE) 40.1 44.0 48.0 10.1 10.4 Total LOE (MM)…
  22. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 22
    Oil Hedging Details as of 02/20/14 Volume/day Weighted-Average Price Swaps w/ Short Collars w/ Short Period Bbls Swaps Collars Puts2 Puts1 15,000 89.60 1Q 2014 16,000 75/95.16 6,000 75.83/90.83-102.93 19,000 90.07 2Q 2014…
  23. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 23
    Oil Hedging Details as of 02/20/14 The following table details the expected impact to pre-tax income (in millions, except prices) from the settlement of our derivative contracts, outlined on the previous slide, at various NYMEX oil…
  24. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 24
    Gas Hedging Details as of 02/20/14 Volume/day Weighted-Average Price Swaps w/ Short Collars w/ Short Period MMBtus Swaps Collars Puts Puts 235,000 3.98 1Q 2014 65,000 3.75 - 4.62 235,000 3.98 2Q 2014 65,000 3.75 - 4.62…
  25. 2013 YEAR END UPDATE – Newfield Exploration Co. – slide 25
    Gas Hedging Details as of 02/20/14 The following table details the expected impact to pre-tax income (in millions, except prices) from the settlement of our derivative contracts, outlined on the previous slide, at various NYMEX gas…

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