Skip to main content SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. Investor Presentation | Shale Experts
Loading...
Pm

SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co.

Newfield Exploration Co. · Mar 24, 2015 · 31 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. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 1
    Newfield Exploration Company Scotia Howard Weil 2015 Energy Conference
  2. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 2
    Strategy deliver value through-cycle Through-cycle vision 2015 Priorities Focus on domestic onshore basins with High-grade capital investments multiple stacked horizons Allocate 70% of budget to the Make disciplined capital…
  3. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 3
    Stronger today well positioned for the future 815 MM issuance Restructured long- of common stock term debt Financial strength & flexibility Extended and Reduced / high- upsized credit graded Cap-Ex and facility to 1.8 B…
  4. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 4
    Strong balance sheet with financial flexibility Highlights Strong capitalization millions YE 2014A PF YE 20144 2.3 bn of pro forma liquidity1 Cash3 14 344 Credit facilities3 446 0 1.7x pro forma debt / Adj EBITDA2 Senior Notes 2,450…
  5. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 5
    Attractive investment plan today and tomorrow 2015E Capital budget Pro forma production (Mboe/d)2 +18% 2015 China over 2014 3% Uinta Other Liquids Gas +7% Q415 7% 8% 146 over Q414 125 Williston 96 12% 85 Anadarko 70% 2012…
  6. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 6
    Demonstrated performance Pro forma production (Mboe/d)1 Pro forma discretionary cash flow (bn)1 125 1.2 96 85 1.0 0.6 2012 2013 2014 2012 2013 2014 Liquids Gas Pro forma proved reserves1 Anadarko Anadarko Anadarko 28% 7%…
  7. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 7
    Large, foundational oil-rich resource base YE 2014 Net unrisked Gross proved drilling identified Net reserves resource potential Domestic Areas acres (Mmboe) (Mmboe)1 locations1 Anadarko Basin Hz 295,000 181 1,829 5,446 Uinta Basin…
  8. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 8
    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 Bn Bbls of oil produced to date from the basin On…
  9. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 9
    Anadarko Basin significant growth engine Production (Mboe/d) Proved reserves (Mmboe) Liquids Gas 181 61 42 116 20 35 7 5 14 2011 2012 2013 2014 2015E 2011 2012 2013 2014 NFX wells 4 26 41 67 94 drilled Anadarko…
  10. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 10
    SCOOP best-in-class operator D&C Cost / lateral ft. and drilling days 2015 vs. 2012 D&C / ft.1 (48%) 2,500 D&C / lateral ft. Days to depth 100 2,153 Days to depth2 (34%) 2,000 1,847 80 1,721 1,500 60 56 1,118 50 50 1,000 40 33…
  11. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 11
    STACK rapidly advancing economics D&C Cost / lateral ft. and drilling days 2015 vs. 2012 D&C / ft.1 (47%) D&C / lateral ft. Days to depth 2000 1,768 Days to depth2 (41%) 60 50 1500 1,259 1,122 40 37 33 942 1000 30 25 22 20…
  12. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 12
    STACK production delineation continues IP30 AVG John 1H-5X 781 BOEPD (84% Oil) 75% production Scheffler 1H-9X 1641 BOEPD (84% Oil) Currently Drilling delineated Industry Well Recent successes Kenneth 1H-30X 1041 BOEPD (83%…
  13. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 13
    Newfield Exploration a leading E&P company Financial strength and flexibility Demonstrated performance Large, foundational oil-rich resource base Core position in world class Anadarko Basin 13
  14. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 14
    Appendix
  15. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 15
    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…
  16. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 16
    Anadarko Basin excellent petroleum system Tonkawa Sand Wade Sand Largest and deepest onshore US basin Medrano Sand World class source rocks with TOC of 10 to 15% Marchand Sand 2,000 to 3,000 ft. of stacked resource reservoirs…
  17. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 17
    Williston Basin proven operator SASKATCHEWAN Highlights MONTANA NORTH WILLIAMS Oil resource play in full development mode DAKOTA Demonstrated ability to drive down costs and Westberg maximize returns Stable oil production with…
  18. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 18
    Uinta Basin significant oil resource Central Basin Type Log Lower Black Shale Uinta Basin Proven petroleum system Upper Castle with 2,000 of stacked oil pays UTAH Peak Prolific source rocks 2,000 - Oil Saturated Sandstones,…
  19. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 19
    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…
  20. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 20
    1Q15e Production, cost and expense guidance Domestic China Total Production Oil (Mmbls) 4.8 5.0 0.7 5.6 5.7 NGLs (Mmbls) 1.8 1.9 -- 1.8 1.9 Natural Gas (Bcf) 29 -- 29 Total (Mmboe) 11.4 11.8 0.7 12.2 12.5 Expenses ( mm)1 LOE2 71 12 84…
  21. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 21
    Pro forma capitalization and credit metrics at YE 2014 815 mm 400 mm Revolver 700 mm Equity offering + upsize + Sr Notes issuance millions YE 14 As adjusted As further adjusted PF YE 14 1 Cash 14 383 377 344 Credit facilities1 446…
  22. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 22
    Reconciliation of key statistics as adjusted for asset sales Adjustments for Asset Sales We have presented certain growth figures net of assets sales. The following tables reflect the impact of asset sales on production and reserves…
  23. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 23
    Reconciliation of key statistics as adjusted for asset sales Proved Reserves (MMBOE) 2012 2013 2014 Crude Oil Crude Oil Total Oil and Total Oil and Total Oil Equivalents Condensate NGLs Natural Equivalents Condensate NGLs Natural…
  24. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 24
    Non-GAAP reconciliations Reconciliation of net cash provided by operating activities to discretionary cash flow net of asset sales: Year ended December 31, 2012 2013 2014 (in millions) Net cash provided by operating activities 1,147…
  25. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 25
    Non-GAAP reconciliations (continued) Pre-tax present value of reserves (PV-10) is a non-GAAP financial measure and generally differs from the standardized measure of discounted future net cash flows (the most directly comparable…
  26. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 26
    Valuable derivatives portfolio (as of 2/20/2015) 2015 Oil derivatives Realized oil price sensitivity2 3-way NYMEX (/Bbl) 2015 2016 Structures Swaps 4% 13% 55 75 70 60 80 75 65 85 80 Swaps + Short Puts 83% 360mm1 (18.0…
  27. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 27
    Oil hedging details as of 02/20/15 Volume/day Weighted-Average Price Swaps w/ Short Collars w/ Short Period Bbls Swaps Collars Puts1 Puts2 8,000 90.63 1Q 2015 38,500 72.03/90.08 2,000 75.00/90.00-104.00 9,000 90.01 2Q 2015…
  28. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 28
    Oil hedging details as of 02/20/15 Volume/day Weighted-Average Price Swaps w/ Short Collars w/ Short Period Bbls Swaps Collars Puts1 Puts2 33,000 73.48/89.97 1Q 2016 17,000 75.00/90.00-96.30 27,000 74.44/89.99 2Q 2016 19,000…
  29. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 29
    Oil hedging details as of 02/20/15 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…
  30. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 30
    Gas hedging details as of 02/20/15 Volume/day Weighted-Average Price Swaps w/ Short Collars w/ Short Period MMBtus Swaps Collars Puts Puts 135,000 4.28 1Q 2015 105,000 3.93 - 4.74 135,000 4.28 2Q 2015 105,000 3.93 - 4.74…
  31. SCOTIA HOWARD WEIL 2015 ENERGY CONFERENCE – Newfield Exploration Co. – slide 31
    Gas hedging details as of 02/20/15 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…

From the store

Browse maps, data & reports in the Shale Experts store