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Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co.

Newfield Exploration Co. · Apr 29, 2014 · 17 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. Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co. – slide 1
    NFX 1Q14 Update April 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 expenses, recent changes to…
  2. Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co. – slide 2
    Table of Contents 1Q14 Highlights 3 Summary of 1Q14 Well Results 4 Production by Area 5 Focus Area Updates 6 Anadarko Basin Uinta Basin Williston Basin Guidance 13 Derivative Position Summaries 14 All information refers to…
  3. Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co. – slide 3
    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…
  4. Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co. – slide 4
    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…
  5. Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co. – slide 5
    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 5
  6. Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co. – slide 6
    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…
  7. Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co. – slide 7
    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…
  8. Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co. – slide 8
    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)…
  9. Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co. – slide 9
    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…
  10. Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co. – slide 10
    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…
  11. Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co. – slide 11
    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…
  12. Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co. – slide 12
    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…
  13. Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co. – slide 13
    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)…
  14. Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co. – slide 14
    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…
  15. Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co. – slide 15
    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…
  16. Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co. – slide 16
    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…
  17. Q1 2014 OPERATIONS UPDATE – Newfield Exploration Co. – slide 17
    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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