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CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co.

Newfield Exploration Co. · May 10, 2014 · 28 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. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 1
    Fulfilling Our Vision The Path to Value Creation Gary D. Packer COO Citi Global Energy & Utilities Conference May 2014
  2. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 2
    Todays Presentation Fulfilling Our Vision The Path to Value Creation Delivering Results Our Focus Areas 1Q14 Highlights Focus Area Updates Anadarko Basin Uinta Basin Williston Basin 2014 Milestones 2
  3. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 3
    Fulfilling Our Vision The Path to Value Creation Our Vision: To be recognized as the premier independent E&P company, delivering operational excellence, top tier business 52% 48% results and value to our shareholders, employees…
  4. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 4
    Delivering Results 201316e 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 2016e Total LOE G&A 12.00 6.00 8.00 4.00 /BOE /BOE 4.00…
  5. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 5
    Our Focus Areas Commonality Williston Basin 14 Capex: 330 MM 4 operated rigs Liquidsfocused horizontal 14 prod: 6 MMBOE, up 40% drilling Multistacked geologic pays Uinta Basin 14 Capex: 400 MM 35 operated rigs 14 prod: 8.6…
  6. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 6
    1Q14 Highlights Production exceeded guidance midpoint by 0.4 1Q14 Production by Product MMBOE Adjusted net income of 60 MM; cash flow from operations of 345 MM 46% 54% Reiterated 2014 capital investments of 1.6 B 1Q14 CapEx: 423 MM…
  7. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 7
    Anadarko Basin* 18 wells placed online since late 4Q13 Anadarko Daily Production* 20% production growth over 4Q13 and 50,000 Liquids Gas 100% over 1Q13 40,000 25% liquids growth over 4Q13 and 100% BOEPD (net) over 1Q13…
  8. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 8
    SCOOP Wet Gas Well Performance 23 wells plotted SCOOP Type Curve 1,800 against type curve 6,464 average lateral 1,600 length SCOOP Wet Gas (5,900') Type Curve 1,400 SWG Actuals (6,464') Actual NEW Wright 1,200 development (5…
  9. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 9
    SCOOP Oil Well Performance 15 wells plotted against SCOOP Type Curve type curve 2,000 7,720 average lateral 1,800 length SCOOP Oil (8,900') Type Curve 1,600 SO Actuals (7,720') Actual NEW Gregory 1,400 development (4 wells)…
  10. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 10
    STACK Well Performance 800 11 wells plotted against STACK Type Curve type curve 700 10,087 average lateral length 600 Type Curve STACK Type Curve (9,000) NEW Mary well 24 500 STACK Actuals Actual (10,087) HR IP of 832 BOEPD…
  11. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 11
    SCOOP Midstream Upgrade Additional Processing Capacity Completed NEW Interconnect adding 100 North Processing MMcf/d of capacity Southern Hills NGL Line Additional expansions NEW Interconnect Capacity 100 MMcf/d planned…
  12. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 12
    Uinta Basin 15% production growth over 1Q13 Uinta Daily Production SXL drilling campaign in Central Basin shows encouraging results 30,000 Liquids Gas Assessing highpotential Central Basin BOEPD (net) 20,000 plays 3 New…
  13. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 13
    Williston Basin Recently completed 16 wells Williston Daily Production 10% production growth over 4Q13 20,000 Liquids Gas and 50% over 1Q13 15,000 BOEPD (net) Recent SXLs (10,000 laterals) drilled for 10,000 8.4 MM (including…
  14. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 14
    2014 Milestones Anadarko Basin 100% YoY production growth SCOOP Wet Gas moves to full development Test SCOOP Oil spacing pilots HBP and derisk STACK acreage Test the Lower Meramec in STACK Uinta Basin Assess highpotential plays…
  15. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 15
    Additional Information
  16. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 16
    Summary of 1Q14 Well Results Avg. Avg. Avg. Avg. Well Type Wells Gross IP Gross Gross Gross (24Hours) 30Day Rate 60Day Rate 90Day Rate SCOOP Wet Gas SXL 5 2,006 BOEPD SCOOP Wet Gas XL 4 1,142 BOEPD 845 BOEPD 758 BOEPD SCOOP Oil…
  17. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 17
    Production by Area 140 Eagle Ford 120 Williston Anadarko* 100 Uinta MBOEPD (net) 80 60 40 20 0 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14e 3Q14e 4Q14e 1H15e 2H15e 2016e *Includes SCOOP and STACK; Excludes Granite Wash 18
  18. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 18
    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')…
  19. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 19
    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 912 MM Gross Well Cost…
  20. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 20
    Uinta Basin Greater Monument Butte Unit (GMBU) 20Acre 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…
  21. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 21
    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 1012 MM Gross Development…
  22. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 22
    Uinta Basin Central Basin Wasatch SXL Wasatch Economics (SXL) Development Type Curve Drilling Program 2900 2013: 1 Operated Wells 1,200 MBOE 2014e: 45 Operated Wells 800 MBOE 10,000 Avg. Depth 2200 1315 MM Gross Development…
  23. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 23
    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 450950 MBOE EUR (66%…
  24. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 24
    Production, Cost & Expense Guidance* 2014e 1Q14 2Q14e Production: Oil (MMBO) 16.4 18.2 4.1 4.0 4.2 NGLs (MMBbls) 7.8 8.3 1.7 1.7 1.9 Natural Gas (BCF) 119 129 29.8 30.0 31.0 Total (MMBOE) 44.0 48.0 10.7 10.7 11.3 Total LOE (MM)…
  25. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 25
    Oil Hedging Details as of 04/28/14 Volume/day WeightedAverage Price Swaps w/ Short Collars w/ Short Period Bbls Swaps Collars Puts2 Puts1 19,000 90.07 2Q 2014 16,000 75/95.16 6,000 75.83/90.83102.93 21,000 89.86 3Q 2014…
  26. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 26
    Oil Hedging Details as of 04/28/14 The following table details the expected impact to pretax income (in millions, except prices) from the settlement of our derivative contracts, outlined on the previous slide, at various NYMEX oil…
  27. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 27
    Gas Hedging Details as of 04/28/14 Volume/day WeightedAverage Price Swaps w/ Short Collars w/ Short Period MMBtus Swaps Collars Puts Puts 235,000 3.98 2Q 2014 65,000 3.75 4.62 235,000 3.98 3Q 2014 65,000 3.75 4.62 235,000…
  28. CITI GLOBAL ENERGY AND UTILITIES CONFERENCE – Newfield Exploration Co. – slide 28
    Gas Hedging Details as of 04/28/14 The following table details the expected impact to pretax 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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