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Q2 2009 EARNINGS CALL – EOG Resources, Inc.

EOG Resources, Inc. · Aug 7, 2009 · 26 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. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 1
    NYSE Stock Symbol: EOG Investor Relations Contacts Common Dividend: 0.58 Maire A. Baldwin, Vice President - IR Basic Shares Outstanding: 251.9 Million (713) 651-6364, Fax (713) 651-6473 mbaldwineogresources.com Internet Address:…
  2. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 2
    EOG is Changing Known as Efficient North American Natural Gas Producer Evolving to Efficient North American Producer Balanced Liquids and Natural Gas Portfolio Continue to Have the Same Efficient Attributes and Focus - ROCE - Low Debt…
  3. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 3
    EOG Resources Exploration Strategy Deep Inventory of Undeveloped Gas Reserves Low Capture Costs as First/Early Mover Into Resource Plays Scalable Volume Growth Capacity with Gas Price Recovery Transferring Demonstrated Horizontal…
  4. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 4
    EOG Resources Increased Liquids Weighting N th A North American i P Production d ti Mi Mix* * 76% 75% 70% 65% 50% 50% 35% 30% 24% 25% 2006 2007 2008 2009E** 2013E Liquids (Crude Oil and NGLs) Natural Gas…
  5. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 5
    EOG vs. Peer Group* 26% 2008 ROCE 21% 13% 10% 7% 5% 4% 4% Co. G EOG Co. A Co. B Co. C Average Co. D Co. E Co. F -8% * Peer Group (Excluding EOG): APA, APC, CHK, DVN, NBL, PXD, XTO; Reconciliation schedule for EOG…
  6. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 6
    EOG vs. Peer Group* Returns Matter Before and After Barnett Impact 1999 - 2004 1999 - 2008 6 Year Average ROCE 10 Year Average ROCE Before Barnett Shale Before and After Barnett Shale 20.0% 17.3% 8.1% 7.1% 11.9% 10.2% EOG…
  7. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 7
    EOG Resources Organic Production Growth Estimates Feb August 2008A 2009E* 2009E** 2010E Total Company 15% 3% 5.5% Total Company Crude Oil and Condensate 46% 10% 17% Total Company NGLs 31% 24% 46% Total Liquids…
  8. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 8
    EOG Resources Deep Drilling Inventory Includes Potential Net Proved Reserves Play Reserve Range* at December 31, 2008 B Barnett tt Sh Shale l Combo C b 200 200 MMboe MMb 8 4 MMboe 8.4 MMb Bakken Oil 80 MMboe 48 MMboe…
  9. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 9
    EOG Resources Best Bakken Producers - Mountrail County, ND Horizontal Wells Wells* 94 37% 61 50% 34 8% 33 100% 16% 18% 23 55% 14 7% 76% 9 100% 8 79% 14% 12% 13% 22% 100% 38% 50% EOG Co A Co. All Others Co B Co.…
  10. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 10
    EOG Resources North Dakota - Horizontal Bakken Oil EOG Has Best Position in the Entire Trend Bakken Core Parshall Field Highest g Rate of Return Big g Oil Play y in North America 100,000 Net Acres 9MM Barrels of Oil in Place…
  11. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 11
    EOG Resources North Dakota Transporting Bakken Oil to Market Third-Party Pipeline at Capacity Rail and Other Transportation Facilities Under Construction - Loading Facility Stanley, ND - Unloadingg Facility y Stroud,, OK -…
  12. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 12
    Barnett Shale Average Peak Rates* Jan 2007 - July y 2008 (Mcfed) 2,500 2,000 Field Wide + 1,700 Mcfed 1,500 1,000 500 0 Company: EOG A B C D E F G H I J K L M N O P Q Wells: 560 714 63 65 129 577 155 54 730 375…
  13. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 13
    EOG Resources Best Barnett Producers - Johnson County Horizontal Wells With 3 MMcfd* 203 95 55 55 46 EOG Co. A All Others Co. B Co. C Combined % of Each Companys Wells 3 MMcfd 28% 13% 13% 29%…
  14. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 14
    EOG Resources Barnett Shale Play Barnett Gas Continued Excellent Well Performance in Johnson and Hill Counties - Currently Running 7 Rigs Barnett Combo Oil Play with Value Added from Natural Gas and NGLs - 194,000 194 000 Acres…
  15. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 15
    EOG Resources 2009 - 2012E Production Forecast Barnett Combo and Gas Plays (MMcfed) 800 700 600 B Barnett tt C Combo b 500 400 300 200 Barnett Gas 100 0 Jan-09 Sep-09 Jan-10 Sep-10…
  16. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 16
    EOG Resources Waskada Field, Manitoba Legacy Acreage 100% WI - Horizontal Drilling Technology Applied to Oil Reservoir Net Reserves 25 MMbo* Average 30 Day Production 200 Bopd/Well Expect Net Production to Increase from…
  17. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 17
    EOG Resources Natural Gas Running Room Haynesville Recent Activity in DeSoto Parish, Louisiana - Five Wells IP Average 14 to 16 MMcfd Each 116,000 Net Acres Potential 3 - 4 Net Tcf Tcf* of Reserves Currently Running 4 Rigs -…
  18. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 18
    EOG Resources Best Haynesville Producers* 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% EOG Co. 1 Co. 2 Co. 3 Co. 4 EOG Co. 1 Co. 2 Co. 3 Co. 4 EOG Co. 1 Co. 2 Co. 3 Co. 4 % Wells 14 MMcfd % Wells 10 MMcfd %…
  19. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 19
    EOG Resources British Columbia Shale Gas 157,500 Net Acres in the Horn River Basin - Activity to Date on the West Side of Basin Shale Thickness 500 - Rock Quality Better Than Barnett Activity - 7 Horizontals Flowing to Sales -…
  20. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 20
    EOG Resources International Trinidad and Tobago g Trinidad ATLANTIC OCEAN TRINIDAD All-in Full Cycle ATROR* 26% Since Inception 4(a) U(a) Have Identified Prospects with 1 - 2 Tcf Potential U(b) SECC…
  21. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 21
    EOG Resources Reserve and Production Growth Net Reserve Growth Net Production Growth (Tcfe) (MMcfed) 9,000 2,500 11% 8,000 11% 7,000 2,000 12% 6,000 5.5% 14% 1,500 5,000 8,689 15% 4,000 10% 7,745 2,098 6,802 1,000 11%…
  22. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 22
    2004 - 2008 5-Year CAGR Debt Adjusted Production Growth Per Share* 12% 12% 9% 7% 5% 4% 3% 2% 2% 1% 0% 0% Co. 11 Co. 12 Co. 13 EOG Co. 1 Co. 2 Co. 3 Co. 4 Co. 5 Co. 6 Co. 7 Peer Co. 8 Co. 9 Co. 10 Avg -1% 1% -4%…
  23. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 23
    EOG vs. Peer Group* Significant Balance Sheet Flexibility 60% 50% 40% 30% 20% 10% 0% EOG Co. 1 Co. 2 Co. 3 Co. 4 Co. 5 Peer Co. 6 Co. 7 Co. 8 Co. 9 Co. 10 Co. 11 Average Net Debt to Total Capitalization Ratio…
  24. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 24
    EOG Resources Financial Strategy No Significant 2008 or 1H 2009 Asset Impairments or Reserve Writedowns EOG Reserves Within 5% of Independent Engineering Analysis Prepared by DeGolyer and MacNaughton 21 Straight Years - Reviewed…
  25. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 25
    EOG Resources Focus on Cost Control* - 2008A 6.00 Average = 4.68/Mcfe 5.00 4.00 3.00 2.00 1.00 0.00 EOG Co. 1 Co. 2 Co. 3 Co. 4 Co. 5 Co. 6 Co. 7 Co. 8 Co. 9 LOE (Including Transportation) DD&A G&A Net…
  26. Q2 2009 EARNINGS CALL – EOG Resources, Inc. – slide 26
    EOG Resources Conclusions Outstanding All Around 2008 Metrics Compared to Large-Cap Peers - Best Equity Performance - Highest g ROCE - Lowest All-in Finding Cost - Highest Debt Adjusted Production Growth Per Share - Lowest Unit Costs -…

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