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Q3 2010 Earnings Call – EOG Resources, Inc.

EOG Resources, Inc. · Nov 3, 2010 · 23 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. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 1
    NYSE Stock Symbol: EOG Investor Relations Contacts Common Dividend: 0.62 Maire A. Baldwin, Vice President - IR Basic Shares Outstanding: 254.0 Million (713) 651-6364, Fax (713) 651-6473 mbaldwineogresources.com Internet Address:…
  2. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 2
    Crude Oil and NGLs Natural 23% Gas 33% Crude Oil Natural and NGLs Gas 67% 77% 2007 2011E % North American Production* * 2007 conversion based on historical price ratio of oil to gas of 10.6:1, NGLs 5.3:1. 2011E based on…
  3. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 3
    Economics of Oil Plays Exceed Natural Gas and NGLs Best Proven Horizontal Oil Inventory in Industry Unique Asset Base and Growth Drivers 75% of Liquids Production is Crude Oil 25% is NGLs EOG_1110-2
  4. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 4
    Net After Royalty (NAR) Estimate Net Acres Total Estimated Resource Potential* (000s) South Texas Eagle Ford 900 MMboe 505 Bakken/Three Forks 420 MMboe 580 Barnett Combo Core 370 MMboe 160 Leonard Shale 65 MMboe 49 of 120 DJ…
  5. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 5
    No Change to Oil and Liquids Rich Investments - 80% of Capex Directed to Holding and Developing These Assets - No Excessive Debt Run-Up Due to Natural Gas Asset Dispositions 20% of Capex Directed to Dry Gas - Holding Sweet Spot…
  6. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 6
    Preliminary** 2010E* 2011E 2012E Total Company 9% 10% 12% Crude Oil and Condensate 36% 53% 30% NGLs 27% 39% 16% Total Company Liquids 34% 49% 26% North American Gas -2% -4%*** 1%*** Other Gas 20% -8% 9% Tolerance +/-2% 2011 -…
  7. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 7
    80% 77% 71% 69% 67% 59% 53% 47% 41% 33% 31% 29% 23% 20% Preliminary 2006 2007 2008 2009 2010E** 2011E 2012E Liquids (Crude Oil and NGLs) Natural Gas * 2006 - 2009 converted based on historical price ratios as…
  8. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 8
    77% Oil, 88% Liquids (Crude, Condensate and NGLs) Not a Typical Shale Borderline Carbonate Reservoir - Horizontal Data Indicates Significant Early Matrix Flow - Vertical Data Indicates Long-Term Sustained Matrix Support Predictable Play…
  9. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 9
    Captured Reserves* - Oil 690 MMbo - NGLs 100 MMBbl San Antonio - Gas 661 Bcf Total 900 MMboe, NAR EOG Cherry-Picked Optimum Oil Window Mature Oil Acreage Window Volatile Oil Maturity Window Provides Wet Gas Solution Gas Drive…
  10. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 10
    Brothers 1H IP: 1,760 Bopd + 2,090 Mcfd Brothers 3H IP: 2,130 Bopd + 1,771 Mcfd Harper 10H IP: 1,070 Bopd +980 Mcfd Milton 11H IP: 914 Bopd + 803 Mcfd Borgfeld 1H IP: 709 Bopd + 337 Mcfd Borgfeld 2H Orr 3H IP: 847 Bopd + 287…
  11. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 11
    Wells Performing Better Than Original Models 3D Seismic Shot Over Much of 505,000 Acre Block - New 20-Mile Sweet Spot Extension - Drilling Longer Laterals Now That We Know Fault Picture Completing Wells in Patterns to Maximize Reserve…
  12. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 12
    580,000 Total Net Acres - Early, Premier Position Canada 2010 Individual Well Results Consistent with Expectations Ed and Paul 1-17H IP 2,000 Bopd - 10-Rig Development Program Bakken Lite Area Drilling Initial Stepouts on 640-Acre…
  13. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 13
    Increased Core Area Again to 160,000 Net Acres Combo Core Area 160,000 Net Acres Estimated Captured Reserves* 370 MMboe, NAR - Revenues 90% Liquids Weighted Oil 77% Ft. Worth 2010 Wells Averaging 337 Mboe, NAR/Well, Same as…
  14. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 14
    Slagle 1 539 Bopd + 307 Mcfd Slagle 2H 495 Bopd + 138 Mcfd Nutter 1H 672 Bopd + 838 Mcfd Posey C 3H Strickland 1 536 Bopd + 416 Mcfd 865 Bopd + 1,212 Mcfd Strickland A 2H 1,118 Bopd + 1,801 Mcfd Roth 2H 500 Bopd +…
  15. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 15
    Control 120,000 Total Net Acres in Play - 49,000 Acres Proven to Date Prospective Area Eddy Lea Potential* Reserves 65 MMboe, NAR in Lea County - Successful Extension into 18,000 Acre Western Area - Elk Wallow 11 State Wells…
  16. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 16
    Critter Creek Jake 2-01H Highly Fractured Oil Shale Play Pattern - Requires Additional Production History to Evaluate Rock Matrix Contribution NE CO Current 3-Rig Drilling Program - Drilling Activity Concentrated on 100,000 of…
  17. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 17
    Haynesville/Bossier Shale Play Area 50 160,000 Net Acres 100 150 - Early Mover in Major Texas Sweet Spot - Strong Economics from Both Haynesville TX LA and Bossier Shales EOG Blackstone 4 5 23 MMcfd HSVL Potential Reserves* 10…
  18. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 18
    600,000 EOG Has Highest % of Sweet Spot Acreage 500,000 400,000 Acres 300,000 Area ATROR Direct* 200,000 Sweet Spot 43% HBP Remainder 6% - 28%** **7,500 Lateral TX 100,000 25% 35% 67% 22% 0 7.5% CHK1 Co. ECA…
  19. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 19
    EOG Reserves Within 5% of Independent Engineering Analysis Prepared by DeGolyer and MacNaughton 22 Straight Years Reviewed 81% of Proved Reserves in 2009 Conservative - Successful Efforts Accounting - Zero Goodwill - Credit Ratings…
  20. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 20
    Will Outspend Operating Cash Flow in 2010 and Likely in 2011 Expect to Make Up Shortfall Primarily with Natural Gas Asset Sales 2010 600MM to 1Bn Expected to Close by YE 2011 Plan to Sell 1+Bn Additional Natural Gas Acreage and/or…
  21. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 21
    50% 40% 30% 20% 10% 0% Co. 1 Co. 2 Co. 3 EOG Co. 4 Peer Co. 5 Co. 6 Co. 7 Co. 8 Co. 9 Co. 10 Co. 11 Average Net Debt-to-Total Capitalization Ratio (Including Preferred Stock) at June 30, 2010** * Peers (Excluding…
  22. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 22
    1999 - 2009 11 Year Average 18.7% 7.3% 11.4% EOG Peer Group* * Peer Group (Excluding EOG): APA, APC, CHK, COG, DNR, DVN, ECA, NBL, NFX, PXD, RRC, SWN and XTO; Reconciliation schedule for EOG posted to EOG website,…
  23. Q3 2010 Earnings Call – EOG Resources, Inc. – slide 23
    Horizontal Oil From Unconventional Rock is Real - Assets Generating Consistent and Repeatable Results EOG Has Captured First Mover Advantage Key Differentiator Horizontal Oil Will Drive Strong 2010 - 2012+ Debt Adjusted Production…

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