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HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co.

Newfield Exploration Co. · Mar 26, 2014 · 36 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. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 1
    Fulfilling Our Vision The Path to Value Creation Lee K. Boothby Chairman, President & CEO Howard Weil Energy Conference March 2014
  2. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 2
    Todays Presentation Fulfilling Our Vision The Path to Value Creation Our Journey Redefining Newfield Exploration Newfield Today 2
  3. HOWARD WEIL ENERGY 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. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 4
    Our Journey Redefining Newfield
  5. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 5
    Howard Weil Diverse Portfolio Multiple Growth Areas Growing Resource Plays International Exposure Exploration Upside Financial Strength Visible Growth Strong Balance Sheet, Always 24% Production Growth in 2008 Ample Liquidity 6…
  6. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 6
    A Look Back Were We Too Diversified Onshore Vermillion 201 Ship Shoal 186 Arkoma Golden Trend Offshore Pyrenees Powerplay Sargent Woodford MidContinent Conventional West Gulf of Mexico West Granite Unconventional Wash Anadarko…
  7. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 7
    Asset Sales: YTD 306 MM for 28 legacy gas assets N O R T H M O N T A N A D A K O T A 277 MM for Deepwater GOM Sold GOM Shelf for 1.2 B (2007) ROCKY MOUNTAINS S O U T H D A K O T A 531MM for noncore Rockies W Y O M I N G…
  8. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 8
    Living Within Internal Resources YearsEnded December 31 (in millions) 2009 2010 2011 2012 2013 Sources: Cash Flow from Operations 782 1,110 1,332 1,203 1,373 Hedge Proceeds 883 456 195 135 60 Property Sales Proceeds 33 12 406 630…
  9. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 9
    Newfield Today
  10. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 10
    Howard Weil Focused Diverse Portfolio Liquids Growth Areas Resource Plays in Development International Exposure Exploration Upside Financial Strength Visible Growth Strong Balance Sheet 9% Production Growth in 2013 Ample…
  11. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 11
    Our Assets are More Alike than Different Williston Basin 14 Capex: 330 MM Liquidsfocused horizontal drilling 4 operated rigs 14 prod: 6 MMBOE, up 40% Multistacked geologic pays Deep inventory, scale Uinta Basin 14 Capex: 400 MM…
  12. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 12
    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 12
  13. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 13
    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…
  14. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 14
    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 in…
  15. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 15
    2014 Deliverables EXECUTE DELIVER EXPAND INVENTORY 2014 Plan within Budget Liquids Growth SCOOP/STACK Complete Transformation Cash Flow Growth Uinta HZT Program 15
  16. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 16
    Fulfilling Our Vision The Path to Value Creation Lee K. Boothby Chairman, President & CEO
  17. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 17
    Additional Information
  18. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 18
    FullYear Drilling Campaign Summary Avg. Avg. Avg. Avg. Well Type Wells Gross IP Gross Gross Gross (24Hours) 30Day Rate 60Day Rate 90Day Rate SCOOP Wet Gas (1) 15 1,903 BOEPD 1,439 BOEPD 1,424 BOEPD 1,430 BOEPD SCOOP Oil 7 1,511…
  19. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 19
    Yearend 2013 Domestic Proved Reserves Pretax PV10 up 44% yoy to 6.6 billion Proved Reserves by Area Liquids reserves up 26% yoy 52% are liquids 28% 36% Proved developed reserves increased 15% yoy 5% 20% 11% Reserves are 56%…
  20. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 20
    2014 Capital Expenditures and Production Guidance 2014 CAPEX Williston Basin 14 Capex: 330 MM 1.6 B* 4 operated rigs 14 prod: 6 MMBOE, up 40% 11% 25% 20% Uinta Basin 14 Capex: 400 MM 44% 35 operated rigs 14 prod: 8.6 MMBOE,…
  21. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 21
    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…
  22. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 22
    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…
  23. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 23
    Anadarko Basin Defining the Resource Potential STACK Spacing Branch Pad (SCOOP Wet Gas) Woodford Plays Upper Meramec 6well average: 700 of Hydrocarbon Interval STACK 6,750 Lateral length 150,000 net acres 2,072 BOEPD avg. 24hr…
  24. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 24
    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')…
  25. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 25
    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…
  26. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 26
    Uinta Basin Developing GMBU waterflood Uinta Daily Production 200 infill wells 30,000 Liquids Gas Increasing water injection volumes Expanding 10acre infill pilots BOEPD (net) 20,000 Assessing highpotential plays in Central…
  27. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 27
    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…
  28. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 28
    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…
  29. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 29
    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…
  30. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 30
    Williston Basin In fullfield 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…
  31. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 31
    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%…
  32. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 32
    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)…
  33. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 33
    Oil Hedging Details as of 02/20/14 Volume/day WeightedAverage 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 75.83/90.83102.93 19,000 90.07 2Q 2014…
  34. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 34
    Oil Hedging Details as of 02/20/14 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…
  35. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 35
    Gas Hedging Details as of 02/20/14 Volume/day WeightedAverage 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 4.62 235,000…
  36. HOWARD WEIL ENERGY CONFERENCE – Newfield Exploration Co. – slide 36
    Gas Hedging Details as of 02/20/14 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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