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MARCH 2015 CORPORATE OVERVIEW – Chevron Corp

Chevron Corp · Mar 16, 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. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 1
    Corporate Overview John Watson Chairman and Chief Executive Officer 2015 Chevron Corporation
  2. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 2
    Key Messages Long-term fundamentals attractive Long-term strategies and financial priorities remain sound Actions aligned with low price environment Capital spending reduced, project completion focus Cost reduction efforts…
  3. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 3
    Leading Operational Excellence Performance Days Away From Work Rate Indexed Tier 1 Loss of Containment Basis: 2010 = 100 0.20 100 75 0.10 50 25 1 1 1 1 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 CVX Ranking…
  4. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 4
    2014 Financial Performance and Highlights Earnings 19.2 Billion Multiple Project Start-ups Jack / St. Malo, Tubular Bells, Bibiyana Cash Flow from 31.5 Billion Pascagoula Base Oil Plant Operations Execution Progress Gorgon,…
  5. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 5
    Industry Leading Profitability Upstream Earnings per Barrel Downstream Earnings* per Barrel 30 4 1 1 1 3 2 20 1 1 1 1 2 1 10 2 1 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 CVX Ranking Relative to IOC Competitors,…
  6. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 6
    Peer Leading Total Shareholder Return Total Shareholder Return as of 12/31/2014 10-Year TSR 5-Year TSR S&P 11.4% 11.5% XOM XOM S&P RDS RDS TOT BP TOT BP Dividend Returns Stock Price Appreciation 2015 Chevron…
  7. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 7
    Long-Term Demand Remains Robust Global Energy Demand MMBOED Growth 400 +40% driven by increasing population and Other expanding income 300 Coal 20% 200 increase in Gas liquids demand 100 Oil 45% increase in 0 2013 2035…
  8. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 8
    Significant New Supply Needed Long-Term Global Liquids Supply & Demand 10 to 15% natural MMBD decline in existing base 120 Demand production 100 80 290 Billion Barrels Required between 60 MMBD new 2013 2035 capacity needed…
  9. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 9
    Short-Term Market Imbalance and Outlook OPEC Spare Capacity & Inventory Change Supply Response Lags MMBD Price Change 12 10 Spare Capacity Low by 8 Historical Standards 6 4 Balance Potentially Driven 2 by Multiple…
  10. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 10
    U.S. Supply Responding to Lower Oil Prices Capex Reductions 2015 U.S. Production* Percent 40% MMBD reduction to U.S. Mid/Small Majors NOC Large Cap Cap upstream investment 10.0 40% 9.5 -12% drop in oil directed rigs since Oct…
  11. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 11
    Attractive Long-Term LNG Outlook Global LNG Supply and Demand MTPA LNG demand 500 expected to almost 400 Supply Opportunity double by 2025 U.S. Probable U.S. Under 300 Pacific Basin Intl. Under Construction 70 MTPA…
  12. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 12
    Consistent Long-Term Strategies Upstream Grow profitably in core areas and build new legacy positions Downstream and Chemicals Deliver competitive returns and grow earnings across the value chain Gas and Midstream Enable the…
  13. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 13
    Financial Priorities Unchanged Indexed Dividend Growth Maintain and Basis: 2004 = 100 grow dividend 27 Consecutive Annual 300 Fund capital program 11% Increases Compound Annual for future earnings 200 Growth Rate Maintain…
  14. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 14
    Balancing the Cash Equation 2015 to 2017 Cash Generation Drivers Cash Flow Growth Reduced Spend Asset Sales 20% upstream production Spend flexibility continues Successful divestment increase to increase each year program expanded…
  15. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 15
    Production Growth Outlook Maintained Projected Net Production MBOED 3.1 MMBOED Volume Growth 3,100 2017 target on track Asset LNG 2,571 Base* Sales Shale & Tight (136) (65) 730 20% Growth Offshore Leading industry peers…
  16. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 16
    Reduced Spending and Increasing Flexibility Total Capital & Exploratory Spend Billions Project spend declines 40 as projects come on-line 30 Flexibility increases to 8+ billion by 2017 20 Robust base business 10 investment…
  17. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 17
    Aggressive Cost Management Upstream Capital Cost Index External Costs Basis: 2004 = 100 Global effort across all categories 250 Aggressive approach, realizing results Index expected to decline 10% by 2016 200 Internal Costs…
  18. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 18
    Asset Sales Program Expanded Asset Divestment Proceeds* 2014 2017 15 Billion Strong 10 Billion 2014 results Significant Sales Value-based 2014 6 Billion Chad/Cameroon Duvernay decisions U.S. Midstream assets 2014 - 2016…
  19. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 19
    Free Cash Flow Covers Dividend by 2017 Cash Flow After Dividends Balance with minimal price recovery 2015* Downstream 2017 60/bbl & Chemicals 70/bbl Reduced Other Upstream Spend Volume Growth drives cash flow LNG Cash…
  20. MARCH 2015 CORPORATE OVERVIEW – Chevron Corp – slide 20
    Key Messages Long-term fundamentals attractive Long-term strategies and financial priorities remain sound Actions aligned with low price environment Capital spending reduced, project completion focus Cost reduction efforts…

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