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Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co.

Newfield Exploration Co. · Jul 29, 2014 · 27 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. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 1
    NFX a Story of Continued Execution 2Q14 Update July 29, 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…
  2. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 2
    Table of Contents Highlights 3 Production by Area 4 Uinta Basin SXL Update 5 Focus Area Updates Anadarko Basin 15 Williston Basin 19 China Update 20 Summary of Well Results 21 Guidance 22 Derivative Position Summaries 23 All…
  3. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 3
    Highlights 2Q14 production exceeds guidance mid-point by 2Q14 Production by Product 1.0 MMBOE 2Q14 adjusted net income: 59 MM; 2Q14 cash flow from operations: 336 MM 45% 55% Increased 2014 capital investments to 1.7 B, reflecting…
  4. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 4
    Production by Area 2014e Total Production: 140 46.5 48.5 MMBOE Eagle Ford 120 Williston 104 MBOEPD Anadarko* 100 Uinta MBOEPD (net) 80 60 40 20 0 *Includes SCOOP and STACK; Excludes Granite Wash ** Company plans…
  5. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 5
    Uinta Basin What You Need to Know 1. Significant Resource, Deep Inventory of Oil Prospects 1 billion barrel net recoverable resource Low-Risk Greater Monument Butte Unit (GMBU) development Emerging, prolific horizontal oil plays in…
  6. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 6
    The Uinta A Prolific Basin NFX is Utahs largest oil producer 230,000 net acres 80% average working interest Recent new entrants to the basin NFX BACKGROUND: Entered Basin in August 2004 Acquired Monument Butte field (GMBU)…
  7. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 7
    Central Basin Offers Multiple Stacked Plays 1,400 of Oil Saturated Interval Horizon Tested Uteland Butte Wasatch Thickness 100 200 900 1,200 Porosity 6 20% 3 10% 7
  8. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 8
    Our Recent SXL Wells Show Strong Production Results Altamont / Bluebell UTAH Jorgensen Ranch Existing Wells Green River Aubrey 2 Perank Central Basin Close Greater Monument Butte Unit (GMBU) Natural Buttes 10…
  9. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 9
    Recent SXLs Show Improved Production 5 recent SXLs have average IP of 2,100 BOEPD gross Strong 30, 60 & 90-day average rates 5 Additional wells drilling / completing Current Best-in-Class Uteland Butte SXL wells to be drilled &…
  10. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 10
    Recent Uteland Butte SXLs Outperforming 800 MBOE Type Curve 2,250 800 MBOE SXL Type Curve 2,000 600 MBOE SXL Type Curve 1,750 Close Close 4-15-22-3-2WH Actual Data Jorgensen 2-4-9-3-2WH Actual Data Jorgensen 1,500 BOEPD…
  11. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 11
    Recent Wasatch SXLs Consistent with Type Curves 2,750 1200 MBOE SXL Type Curve 2,500 800 MBOE SXL Type Curve 2,250 Aubrey 2-15-22-3-2WH Actual Data Perank 13-10-3-3-3WH Actual Data 2,000 1,750 30-day Avg.= 1,428 BOEPD (91% oil)…
  12. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 12
    Achieving Drilling Efficiencies in Uteland Butte NFX is a proven operator in the Uteland Butte SXL Uinta Basin Days vs. Depth (Spud to RR) 50 SXLs are reducing completed well 40 costs per lateral foot 30 Days-to-Depth improving…
  13. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 13
    90% Oil Cut in Uinta Generates Superior Revenue Cumulative 90-Day Production MBOE (gross) 90-Day Revenue, MM (gross)** 200 6 5 150 4 100 3 2 50 1 0 0 SCOOP Wet Uinta SXLs* Williston Uinta SXLs* SCOOP Williston Gas SXL…
  14. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 14
    Uinta Basin 2014e growth forecast to nearly double Uinta Daily Production to 10% YoY Liquids Gas 30,000 SXL drilling campaign in Central Basin shows encouraging results BOEPD (net) 20,000 Assessing high-potential Central…
  15. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 15
    Anadarko Basin* 32% production growth over 1Q14 and Anadarko Daily Production* 130% over 2Q13 50,000 Liquids Gas 26% liquids growth over 1Q14 and 130% over 2Q13 40,000 BOEPD (net) 30,000 100% YoY estimated production growth…
  16. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 16
    SCOOP Wet Gas Well Performance 28 wells plotted SCOOP Wet Gas Type Curve against type curve 1,800 6,182 average lateral 1,600 length Type Curve (5,900) 1,400 Actual NEW Yandell development (5 XL 1,200 wells) averaged 24-HR…
  17. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 17
    SCOOP Oil Well Performance 15 wells plotted against SCOOP Oil Type Curve type curve 2,000 7,720 average lateral 1,800 length Type Curve (8,900) 1,600 Actual 1,400 1,200 BOEPD 1,000 800 600 400 200 0 0 100 200 300…
  18. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 18
    STACK Well Performance 800 11 wells plotted against STACK Type Curve type curve 700 10,087 average lateral length 600 Type Curve (9,000) Actual 500 BOEPD 400 300 200 100 0 0 200 400 600 Days Online 18
  19. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 19
    Williston Basin 21% production growth over 1Q14 and Williston Daily Production 54% over 2Q13 Liquids Gas 20,000 YTD SXLs (10,000 laterals) drilled for 15,000 7.9 MM (including facilities) BOEPD (net) Full-field development,…
  20. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 20
    Pearl Update Topsides are Loaded and Ready to Sail Completing repairs to Jacket Topsides loaded; installation planned in August 2014 NFXs Pearl Facility: First oil is expected in 4Q14 and production is expected late 2014 /…
  21. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 21
    YTD Summary of Well Results Avg. Avg. Avg. Avg. Well Type Wells Gross IP Gross Gross Gross (24-Hours) 30-Day Rate 60-Day Rate 90-Day Rate Uteland Butte SXL (1) 3 2,157 BOEPD 1,532 BOEPD 1,323 BOEPD 1,154 BOEPD Wasatch SXL (2) 2 2,068…
  22. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 22
    Production, Cost & Expense Guidance* 2014e 2Q14 3Q14e Production: Oil (MMBO) 18.1 18.7 4.5 4.6 4.8 NGLs (MMBbls) 7.6 8.1 2.0 2.1 2.2 Natural Gas (BCF) 125 130 33.1 32 Total (MMBOE) 46.5 48.5 12.1 12.1 12.3 Total LOE (MM) 486 119…
  23. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 23
    Oil Hedging Details as of 07/28/14 Volume/day Weighted-Average Price Swaps w/ Short Collars w/ Short Period Bbls Swaps Collars Puts2 Puts1 21,000 89.86 3Q 2014 16,000 75.00/95.16 6,000 75.83/90.83-102.93 23,000 89.94 4Q 2014…
  24. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 24
    Oil Hedging Details as of 07/28/14 Volume/day Weighted-Average Price Swaps w/ Short Collars w/ Short Period Bbls Swaps Collars Puts2 Puts1 24,000 73.54/90.76 1Q 2016 17,000 75.00/90.00-96.30 18,000 75.00/91.05 2Q 2016 19,000…
  25. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 25
    Oil Hedging Details as of 07/28/14 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…
  26. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 26
    Gas Hedging Details as of 07/28/14 Volume/day Weighted-Average Price Swaps w/ Short Collars w/ Short Period MMBtus Swaps Collars Puts Puts 235,000 3.98 3Q 2014 65,000 3.75 - 4.62 235,000 3.98 4Q 2014 65,000 3.75 - 4.62…
  27. Q2 2014 CORPORATE PRESENTATION – Newfield Exploration Co. – slide 27
    Gas Hedging Details as of 07/28/14 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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