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Credit Suisse Best of Breed Conference – Chesapeake Energy Corp

Chesapeake Energy Corp · May 11, 2015 · 18 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. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 1
    LEADERSHIP PERFORMANCE VALUE CREDIT SUISSE 3RD ANNUAL SHALE REVOLUTION SYMPOSIUM UTICA SHALE PRESENTATION MAY 11, 2015 Utica Shale Presentation 5/11/2015 1
  2. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 2
    UTICA A DIVERSITY OF VALUE CREATION OPPORTUNITIES Over 1 Million Net Acres in Play Core Acreage Potential Locations at Strip Pricing(1) 236,000+ net acres in Wet Gas Window 1,570 potential locations 300,000+ net acres in Dry…
  3. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 3
    UTICA INDUSTRY LEADING PERFORMANCE Drilling Performance Average Well Cost 30 1,200 12 Drill Days Penetration Rate 25 1,000 10 Gross Capex / Well, mm 20 800 8 Drill Days Ft / Day 15 600 6 10 400 4 5 200 2 0 0…
  4. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 4
    UTICA CONTINUOUS IMPROVEMENT Spud to RR (days) Well Cost (MM) Lateral Length (ft) Well Cost per ft lateral (/ft) 19 1,300 8.2 7,900 7.2 6.7 1,160 6,200 14 13 1,040 5,150 2013 2014 2015E 2013 2014 2015E 2013 2014 2015E 2013…
  5. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 5
    UTICA ENHANCED COMPLETIONS PROGRESS Completion Performance 20% EUR improvement driven by 41 enhanced completions Lateral Length per Well Stages per Well Longer lateral lengths 29 Increased stages per well 17 Tailored…
  6. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 6
    UTICA REINVESTING IN CHESAPEAKES VALUE CREATION MACHINE Drilling Program Avg Well Cost (MM) 8.2 7.2 1.1 6.7 (1) 0.7 2013 Base Well 5,400 LL & 0.3 1.1 53% LL Increase Previous Frac 2013 to 2015E Design 6.7 6.2 6.0 10%…
  7. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 7
    UTICA TECHNICAL EXCELLENCE TAILORED FIELD DEVELOPMENT Leveraging 600 square miles of 3D seismic and 5,300 feet of core to optimize development Redefining targeting to yield 15% higher EUR/ft 500 Well Spacing Adjusting well…
  8. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 8
    UTICA TECHNICAL EXCELLENCE CUSTOMIZED CLUSTER SPACING Completion customized to reservoir and maturity Evolution driven by rigorous core analysis and supported by extensive field testing Ultra Reduced Cluster Spacing Reduced…
  9. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 9
    THE RESULT: A UTICA NAV THAT IS STRONG AND GROWING UPSIDE 10,000 960 8,920 9,000 8,470 480 8,000 420 7,060 780 7,000 1,970 6,000 NAV MM 5,000 7.1 8.9 Billion Utica NAV at PV10 & Strip Price 4,000 4,160 3,000…
  10. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 10
    UTICA WET GAS WINDOW A PROVEN PERFORMER NW Wet Type Curve NE Wet Type Curve 1,150 mboe EUR 1,450 mboe EUR 3.5 bcf 6.3 bcf 330 mbo 70 mbo 8,000 LL / 7.9MM 8,000 LL / 5.9MM 370 Potential 840 Potential Locations Locations SW…
  11. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 11
    UTICA WET GAS WINDOW CONFIDENCE IN WELL RESULTS Northwest Wet Gas Northeast Wet Gas 10000 10000 1000 1000 1000 1000 Gas Rate (mcfd) Gas Rate (mcfd) Oil Rate (bpd) Oil Rate (bpd) 100 100 100 100 10 10 10 1 10 1…
  12. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 12
    UTICA IMPROVING PERFORMANCE LEADS TO CORE EXPANSION Columbiana County Well Results Optimized completions 2,000 Early Wells 1,800 3 Wells New Wells Enhanced geologic interpretation 1,600 Expected Type Curve 1,400 Targeting…
  13. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 13
    UTICA BASE OPTIMIZATION Operating more efficiently Decreasing downtime through 2015 Base Gross Operated Production better winter operations 200 preparation 180 Choke management 160 Pressure maintenance program 140 120…
  14. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 14
    UTICA DRY GAS DEVELOPING THE PORTFOLIO 5.9 mmcf/d 14 mmcf/d 7.1 mmcf/d 300,000 acres Net dry gas acres in Jefferson, Columbiana County, 8.8 mmcf/d OH and Beaver County, PA 6.9 mmcf/d 14.7 mmcf/d 17.7 mmcf/d 1,050+…
  15. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 15
    UTICA OIL WINDOW EXTENDING THE BOUNDARY OF OPPORTUNITY 770 bo / 1.3 mmcf Parker 3H Peak 24-hr production (1st sales June 2014) 80,000 net acres High-Graded Oil Window Acreage 500+ locations Oil Window Test Area Leveraging…
  16. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 16
    UTICA PROCESSING AND FIRM TRANSPORTATION ADVANTAGES Highlights: Excellent flexibility with gathering/processing system Upper Midwest & Canadian Kensington I, II, III 99.7% runtime on majority of system Markets 600 mmcf/d Access…
  17. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 17
    UTICA 2015 FIRM TRANSPORTATION BREAKDOWN Leading Firm Transport Rates Gulf Coast Exposure Advantage 0.50 90% 0.45 80% 0.40 70% 0.35 60% 0.30 50% 0.25 40% 0.20 30% 0.15 0.10 20% 0.05 10% - 0% CHK A B C D E CHK A B C D E…
  18. Credit Suisse Best of Breed Conference – Chesapeake Energy Corp – slide 18
    UTICA NATURAL GAS LIQUIDS ATEX Ethane Commitment Utica Barrel Composition 10% 27% 20% 43% 2015 2016 2017 2018 Current Capacity Former Capacity* ATEX: Right-sized ethane takeaway Leading NGL Storage Capacity capacity…

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