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BAML 2014 GLOBAL ENERGY CONFERENCE – Newfield Exploration Co.

Newfield Exploration Co. · Nov 10, 2014 · 16 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. BAML 2014 GLOBAL ENERGY CONFERENCE – Newfield Exploration Co. – slide 1
    Executing Our Vision Larry Massaro Chief Financial Officer Bank of America Merrill Lynch 2014 Global Energy Conference November 2014
  2. BAML 2014 GLOBAL ENERGY CONFERENCE – Newfield Exploration Co. – slide 2
    Todays Presentation Executing Our Vision 2014 Highlights Focus Area Updates 2
  3. BAML 2014 GLOBAL ENERGY CONFERENCE – Newfield Exploration Co. – slide 3
    Executing Our Vision 1. Focus the asset base FACTS: - U.S. onshore, liquids-rich plays Sold 2.5 B in assets Growth is oil dominated - Asset sales fund U.S. growth Prod mix 55% liquids FACTS: 2. Expand liquids inventory SCOOP/STACK…
  4. BAML 2014 GLOBAL ENERGY CONFERENCE – Newfield Exploration Co. – slide 4
    YTD Highlights Strong execution 2014e production moved to upper-end of guidance (47.4 MMBOE) Added 50,000 net acres YTD in Anadarko Basin (275,000 total acres) Successfully tested STACK vertical spacing pilot; continued production…
  5. BAML 2014 GLOBAL ENERGY CONFERENCE – Newfield Exploration Co. – slide 5
    Production by Focus Area Original 4Q14e: 100 MBOEPD 140 Eagle Ford NOW: 105 MBOEPD 120 Williston Anadarko* 100 Uinta MBOEPD (net) 80 To be updated in 60 Feb. 2015 40 20 0 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14e…
  6. BAML 2014 GLOBAL ENERGY CONFERENCE – Newfield Exploration Co. – slide 6
    Outperforming in Each Focus Area Focus 2013 2014 Original 2014 Final Delta % Change Y-o-Y Area Production Guidance Guidance Growth (MMBOE) (MMBOE) (MMBOE) (MMBOE) Anadarko 7.2 14.3 14.8 0.5 3% 106% Basin Uinta 8.2 8.6 9.4 0.8 9%…
  7. BAML 2014 GLOBAL ENERGY CONFERENCE – Newfield Exploration Co. – slide 7
    Total Debt / LTM EBITDA - Retired LTD with asset sale 3.0x proceeds 2.0x 1.0x - Improved credit metrics 0.0x YE12 YE13 Current Debt Maturity Schedule (MM) - Staggered debt maturities 2,000 Credit Facility Bonds 295 drawn…
  8. BAML 2014 GLOBAL ENERGY CONFERENCE – Newfield Exploration Co. – slide 8
    Improved Drilling Performance Across Portfolio Uinta Uteland Butte SXL Uinta - GMBU 50 10 10.8 MM D&C DAYS DAYS 25…
  9. BAML 2014 GLOBAL ENERGY CONFERENCE – Newfield Exploration Co. – slide 9
    Anadarko Basin Increased acreage to 275,000 net Anadarko Daily Production* acres Liquids Gas 50,000 2014e production to more than double 40,000 over 2013 volumes BOEPD (net) 30,000 Continued high liquids cut; gas/oil 20,000…
  10. BAML 2014 GLOBAL ENERGY CONFERENCE – Newfield Exploration Co. – slide 10
    STACK Production-Delineation Continues John is the furthest step- out well to-date to the northwest John 821 BOEPD IP30-day avg. (84% Oil) Connie & Freeman are the first Meramec Connie 935 BOEPD IP30-day avg. STACKed vertical…
  11. BAML 2014 GLOBAL ENERGY CONFERENCE – Newfield Exploration Co. – slide 11
    STACK Vertical Spacing Test STACK Vertical Spacing Test Connie Well (Upper Meramec) 935 BOEPD IP30-day avg. (87% oil) Freeman Well (Lower Meramec) 680 BOEPD IP30-day avg. (85% oil) Spaced 275 vertically in Meramec Meramec Shale…
  12. BAML 2014 GLOBAL ENERGY CONFERENCE – Newfield Exploration Co. – slide 12
    Springer Shale Strengthens SCOOP Inventory Adds inventory on HBP SCOOP acreage Up to 150 thick Highly siliceous, organic rich High permeability and porosity Over-pressured Three recent non-op Springer wells had average 24-hr IP…
  13. BAML 2014 GLOBAL ENERGY CONFERENCE – Newfield Exploration Co. – slide 13
    Uinta Basin Forecasting 15% YoY growth in 14; (up Uinta Daily Production 800,000 BOE from original forecast) Liquids Gas 30,000 SXL drilling campaign in Central Basin delivering encouraging results BOEPD (net) 20,000 Recent…
  14. BAML 2014 GLOBAL ENERGY CONFERENCE – Newfield Exploration Co. – slide 14
    Uteland ButteSignificant Resource Potential and Returns ROR% Price deck* 80% 80 90 100 60% 40% 20% 0% 12 11 10 D&C cost ( MM) - Days to depth decreasing - Completed well costs per lateral foot improving - Recent wells…
  15. BAML 2014 GLOBAL ENERGY CONFERENCE – Newfield Exploration Co. – slide 15
    Williston Basin Forecasting 50% YoY growth in 14 Williston Daily Production YTD SXLs average 7.5 MM (including Liquids Gas 20,000 facilities) 15,000 Full-field development, targeting Middle BOEPD (net) Bakken and Three-Forks 1…
  16. BAML 2014 GLOBAL ENERGY CONFERENCE – Newfield Exploration Co. – slide 16
    Todays Focus Continued execution of three-year plan Invest in high-value liquids plays Grow cash flow Balanced the budget Expand inventory Navigate oil price uncertainty Hedge position protects cash flow Maintain balance…

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