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1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co.

Newfield Exploration Co. · May 5, 2015 · 20 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. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 1
    NFX 1Q15 Update May 5, 2015
  2. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 2
    1Q15 Company highlights Strong Y-o-Y domestic, liquids and total company production growth1 Domestic production +21% 1Q15 NET PRODUCTION (MMBOE) Domestic liquids production +26% Oil 5.85 Total production +28% Total liquids…
  3. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 3
    Strong balance sheet with financial flexibility Highlights Strong capitalization MM YE 2014A YE 2015E2 2.1 B of pro forma liquidity1 Cash 14 109 Credit facilities 446 0 1.8x debt / Adj EBITDA1 Senior Notes 2,450 2,450 Total Debt…
  4. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 4
    1Q15 Average production by area Anadarko Uinta Williston Eagle China Production Basin Basin Basin Ford (Liftings) Oil (BOPD) 15,600 18,200 14,600 6,300 10,000 NGL (BOEPD) 15,200 800 1,800 2,300 -- Gas (BOEPD) 21,900 4,600 3,200…
  5. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 5
    Anadarko Basin world class resource Excellent petroleum system STACK Multiple stacked pays with 15+ identified productive 210,000 net acres horizons More than 100 Tcf of gas and 6 BBbls of oil produced to date from the basin On…
  6. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 6
    Recent Anadarko Basin well results Avg. Avg. Avg. Avg. Well Type Wells Lateral Gross Gross Gross Length 30-Day Rate 60-Day Rate 90-Day Rate SCOOP Wet Gas SXL 5 7,282 1,451 BOEPD 1,519 BOEPD 1,448 BOEPD SCOOP Oil 1 10,224 1,125 BOEPD…
  7. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 7
    Our gas to oil ratio (GOR) assumptions for STACK are being validated 100 66vertical verticalwells, wells,average averageGOR GOR Averageof Average of44oldest oldest STACK STACK wells wells Jan 2015type STACK TC curve GOR…
  8. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 8
    High initial oil volumes in STACK accelerate payout, enhance ROR 350 80% 300 Cumulative Oil Production (MBO) 60% 250 200 150 100 Oil EUR for 30-year life-of-well is 400 MBO (total EUR 950 MBOE) with 60% produced in…
  9. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 9
    STACK economics 1st year production OIL - 110 MBO (71%) SEPARATOR GAS - 265 MMcf (29%) WELLHEAD (10,000 lateral) 950 MBOE type curve well GAS PLANT 210 MMcf NGLs +/- 144 Bbls/MMcf 210/6 + NGLs + Oil 35 MBOE 38 MBNGL 110…
  10. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 10
    Initial STACK spacing pilots TEST 1 TEST 2 TEST 3 TEST 4 WDFD-WDFD MRMC-MRMC MRMC-MRMC MRMC-WDFD Horizontal Spacing 1,200 880 880 1,050 Spacing Vertical 175 400 Average production performing in-line with our STACK type…
  11. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 11
    What to look for in 2Q15 Strong 2Q15 domestic, liquids and total company production growth1 Domestic production up 5% Q-o-Q and 11% Y-o-Y Domestic liquids productionup 8% Q-o-Q and 19% Y-o-Y Total production up 7% Q-o-Q and 21% Y-o-Y…
  12. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 12
    2015e Production, cost and expense guidance Domestic China Total Production Oil (Mmbls) 20.1 21.4 5.0 25.1 26.4 NGLs (Mmbls) 7.7 8.2 -- 7.7 8.2 Natural Gas (Bcf) 115 122 -- 115 122 Total (Mmboe) 47.0 50.0 5.0 52.0 55.0 Expenses ( mm)1…
  13. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 13
    2Q15e Production, cost and expense guidance Domestic China Total Production Oil (Mmbls) 5.3 5.5 1.2 6.5 6.7 NGLs (Mmbls) 1.9 2.0 -- 1.9 2.0 Natural Gas (Bcf) 29 30 -- 29 30 Total (Mmboe) 12.1 12.5 1.2 13.3 13.7 Expenses ( mm)1 LOE2 69…
  14. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 14
    Single well economics 55/60/65 oil SCOOP Wet Gas SCOOP Oil STACK Bakken Lateral length (ft.) 5,900 8,900 9,000 9,000 IP 30 (Boe/d)1 1,535 948 835 939 Gross EUR (Mboe)2 2,000 1,200 950 680 % Liquids 50% 70% 70% 82% Gross well costs…
  15. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 15
    Valuable derivatives portfolio (as of 05/05/2015) 2015 Oil derivatives Realized oil price sensitivity2 3-way NYMEX (/Bbl) 2015 2016 Structures Swaps 4% 13% 55 75 70 60 80 75 65 84 80 Swaps + Short Puts 83% 360mm1 (18.0…
  16. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 16
    Oil hedging details as of 05/05/15 Volume/day Weighted-Average Price Swaps w/ Short Collars w/ Short Period Bbls Swaps Collars Puts1 Puts2 9,000 90.01 2Q 2015 38,500 72.03/89.96 2,000 75.00/90.00-104.00 7,000 90.00 3Q 2015…
  17. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 17
    Oil hedging details as of 05/05/15 Volume/day Weighted-Average Price Swaps w/ Short Collars w/ Short Period Bbls Swaps Purchased Calls2 Puts1 Puts3 33,000 73.48/89.97 1Q 2016 7,000 68.64 17,000 75.00/90.00-96.30 27,000…
  18. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 18
    Oil hedging details as of 05/05/15 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…
  19. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 19
    Gas hedging details as of 05/05/15 Volume/day Weighted-Average Price Swaps w/ Short Collars w/ Short Period MMBtus Swaps Collars Puts Puts 135,000 4.28 2Q 2015 105,000 3.93 - 4.74 135,000 4.28 3Q 2015 105,000 3.93 - 4.74…
  20. 1Q 2015 OPERATIONS UPDATE – Newfield Exploration Co. – slide 20
    Gas hedging details as of 05/05/15 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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