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November 2014 Investor Presentation – EOG Resources, Inc.

EOG Resources, Inc. · Nov 18, 2014 · 37 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. November 2014 Investor Presentation – EOG Resources, Inc. – slide 1
    NYSE Stock Symbol: EOG Investor Relations Contacts Common Dividend: 0.67 Maire A. Baldwin, Vice President IR Basic Shares Outstanding: 548 Million (713) 651-6364, Fax (713) 651-6473 mbaldwineogresources.com David J. Streit, Director IR…
  2. November 2014 Investor Presentation – EOG Resources, Inc. – slide 2
    Increased FY 2014E* Production Growth Targets Again - Crude Oil 27% 29% 31% - Total Company 12% 14% 16.5% Confirmed Crude Oil Window of Delaware Basin Wolfcamp 90,000 Net Acres Eagle Ford Completion Enhancements and Drilling…
  3. November 2014 Investor Presentation – EOG Resources, Inc. – slide 3
    Maximize the Rate of Return on Investment of Capital by Controlling Operating and Capital Costs and Maximizing Reserve Recoveries* Best Horizontal Crude Oil Assets in North America Peer-Leading Organic Crude Oil Production Growth -…
  4. November 2014 Investor Presentation – EOG Resources, Inc. – slide 4
    Exploration and Technology Focus Core Competency and Sustainable Competitive Advantage Exploration - Generate New Plays Internally Capture Premier Acreage Early-Mover Strategy Drives Low Leasing Costs - Identify Additional…
  5. November 2014 Investor Presentation – EOG Resources, Inc. – slide 5
    Eagle Ford Bakken/Three Forks Delaware Basin Leonard Oil Price Required for 10% Direct ATROR* Delaware Basin Wolfcamp Oil Direct ATROR* at Flat 80 Oil Price Delaware Basin 2nd Bone Spring Sand 100% 40 Powder River Basin Parkman Wyoming…
  6. November 2014 Investor Presentation – EOG Resources, Inc. – slide 6
    Minimum Drilling Play Locations* Years** Eagle Ford 6,000 12 Bakken/Three Forks 640 8 Delaware Basin Leonard 1,600 40 Delaware Basin 2nd Bone Spring Sand Evaluating Delaware Basin Wolfcamp 1,100 75 DJ Basin 460 12 Powder River…
  7. November 2014 Investor Presentation – EOG Resources, Inc. – slide 7
    Majority of Capex Increase Going to Top Plays: 2014* Eagle Ford, Bakken, Permian and Rockies 10 Gathering, Exploration and 9 8.1 to 8.3 Bn Processing Development 8 and Other Facilities 7.1 Bn Gathering, 7 Exploration & 10% 11%…
  8. November 2014 Investor Presentation – EOG Resources, Inc. – slide 8
    Tactical - 2014 High-Return Oil Growth Increased Dividend Twice - February +33% - August +34% Strategic - 2015+ Consider Further Dividend Increases High Rate-of-Return Capital Investment - Prioritize E&P Activity to Highest…
  9. November 2014 Investor Presentation – EOG Resources, Inc. – slide 9
    400 Extending Our Lead 350 EOG 300 OXY 250 CVX 200 150 100 50 0 Jan May Sep Jan May Sep Jan May Sep Jan May Sep Jan May 2010 2011 2012 2013 2014 * Source: IHS data through June 2014. Gross operated oil production. EOG_1114 v2-8…
  10. November 2014 Investor Presentation – EOG Resources, Inc. – slide 10
    2011 2012 2013 2014E* 2015E - 2017E Crude Oil and Condensate 52% 39% 40% 31% Continued Best-in-Class NGLs 39% 32% 17% 23% Double-Digit Growth Total Company Liquids 48% 37% 34% 29% North American Gas -7% -9% -13% 0% Flat Other…
  11. November 2014 Investor Presentation – EOG Resources, Inc. – slide 11
    70 60 50 40 30 20 10 Co. 13 0 EOG Co. 1 Co. 2 Co. 3 Co. 4 Peer Co. 5 Co. 6 Co. 7 Co. 8 Co. 9 Co. 10 Co. 11 Co. 12 Avg -10 Sources: Company filings, First Call. Production adjusted for Acquisitions/Dispositions…
  12. November 2014 Investor Presentation – EOG Resources, Inc. – slide 12
    300 288 250 68 Actual 220 200 62 158 150 45 113 100 38 75 55 20 50 0 2009 2010 2011 2012 2013 2014E* * Based on mid-point of full-year 2014 production estimates as of November 4, 2014. EOG_1114 v2-11
  13. November 2014 Investor Presentation – EOG Resources, Inc. – slide 13
    80 70 60 50 40 30 20 10 0 EOG Co. 1 Co. 2 Co. 3 Co. 4 Co. 5 Co. 6 Co. 7 Co. 8 Co. 9 Peer Co. 10 Co. 11 Co. 12 Co. 13 Co. 14 Avg Source: First Call, Company Reports. Peer Group: APA, APC, CHK, CLR, CXO, DNR, DVN, ECA,…
  14. November 2014 Investor Presentation – EOG Resources, Inc. – slide 14
    2013 Lease Operating Expense (LOE) vs. Liquids Production Mix 14.00 12.00 10.00 8.00 LOE/Boe 2011 EOG LOE Below YTD Peer Average and 6.00 2014 2010 Stable Despite Rising 2012 2013 Liquids Production Mix 4.00…
  15. November 2014 Investor Presentation – EOG Resources, Inc. – slide 15
    ROCE ROE 17.0% 15.6% 13.4% 12.4% 11.8% 9.4% 2012* 2013* 2014E** 2012* 2013* 2014E** * See reconciliation schedule. ** Goldman Sachs estimates October 29, 2014, 94.83 WTI and 4.38 Henry Hub in 2014. EOG_1114 v2-14
  16. November 2014 Investor Presentation – EOG Resources, Inc. – slide 16
    ROCE* ROE* 13.7% 13.4% 17.0% 12.4% 12.7% 15.6% 14.1% 13.6% 10.0% 9.5% 11.7% 11.2% 6.2% 8.0% Integrateds Integrateds Integrateds Integrateds 3.4% 3.7% Majors Majors Majors Majors EOG…
  17. November 2014 Investor Presentation – EOG Resources, Inc. – slide 17
    0.70 Committed to the Dividend 0.67 Increased Dividend Twice in 2014 0.60 16 Dividend Increases in 15 Years 0.50 0.50 0.40 0.375 0.34 0.31 0.32 0.29 0.30 0.255 0.20 0.18 0.12 0.10 0.08 0.05 0.06 0.03 0.035 0.04…
  18. November 2014 Investor Presentation – EOG Resources, Inc. – slide 18
    Brushy Canyon Net to EOG* MMboe Leonard A New Mexico High ROR Oil Play 550 MMboe Texas - Spacing Tests Underway Leonard B Red Hills Leonard/ Bone Spring 4,800 1st Bone Spring 2nd Bone Spring Over Pressured Oil Play Evaluating…
  19. November 2014 Investor Presentation – EOG Resources, Inc. – slide 19
    Decades of High-Return Drilling Inventory Net Net Net to EOG % Direct ATROR** Play Acres Locations MMboe* Crude Oil 2013 2014 Delaware Basin Leonard 80,000 1,600 550 50% 100% 100% 2nd Bone Spring Sand 90,000 70% n/a 100%…
  20. November 2014 Investor Presentation – EOG Resources, Inc. – slide 20
    Confirmed Highly Over-Pressured Oil Window in Northern Delaware Basin NGLs - Oil Mix Rises to 50% 24% Oil - Economics Competitive with Other EOG Oil Plays Gas 50% 26% Focused on Best 140,000 Net Acres with Multiple Pay Zones Gas -…
  21. November 2014 Investor Presentation – EOG Resources, Inc. – slide 21
    90,000 Net Acres Prospective in Northern Delaware Basin - Further Evaluating and Delineating Acreage - 20-Mile Step Out Well in 3Q 2014 Confirms Prospectivity NGLs Drilled and Participated in 21 Gross Wells Since 2013 14% - Plan to…
  22. November 2014 Investor Presentation – EOG Resources, Inc. – slide 22
    Completion Technology Driving Higher Production from Tighter Spaced Wells 80,000 Net Acres Estimated Reserve Potential* 550 MMBoe, Net to EOG NGLs Target Well Economics for 4,400-Foot Lateral 26% Oil - 500 MBoe EUR/Well, Gross;…
  23. November 2014 Investor Presentation – EOG Resources, Inc. – slide 23
    Tighter Spacing and Enhanced Completions (Bbl) Improve Well Productivity 60,000 50,000 26% Increase Cumulative Oil Production 40,000 Average of 2014 300 Spaced Pattern Wells 30,000 Average of 2013 20,000 Single…
  24. November 2014 Investor Presentation – EOG Resources, Inc. – slide 24
    Largest Oil Producer and Acreage Holder in the Eagle Ford - 23 Rigs Operating San Antonio - Drilled 392 Net Wells YTD, Plan 540 Net Wells in 2014 Multi-Well Pad Development - Higher Capital Productivity Crude Oil Window - Non-Linear…
  25. November 2014 Investor Presentation – EOG Resources, Inc. – slide 25
    Big Fields Get Bigger Third Reserve Increase in Four Years Increased Estimated Potential Reserves* by 45% in 2014 Reserve Potential* Since Discovery At Least Ten Years of Future Production Growth (BnBoe) Increased Total Well Count…
  26. November 2014 Investor Presentation – EOG Resources, Inc. – slide 26
    Footage Per Day Spud to TD (Average Days) 1,756' 22.3 1,561' 1,205' 16.1 14.2 935' 884' 10.9 8.9 4.3 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 Record YTD YTD EOG_1114 v2-25
  27. November 2014 Investor Presentation – EOG Resources, Inc. – slide 27
    Eagle Ford West Wells Improving Well Productivity* Average Cumulative Crude Oil Production* (Mbo) (Mbo) 70 70 60 60 Cumulative Oil Production Cumulative Oil Production High Density Frac 2014 YTD 39% 50 50 Increase…
  28. November 2014 Investor Presentation – EOG Resources, Inc. – slide 28
    April 2010 Feb 2012 Feb 2013 Feb 2014 Wells/Section (Unit) 5 10 10 - 16 16 Per Well Spacing (Acres) 130 Acres 65 Acres 40-65 Acres 40 Acres Est. Reserves, NAR 320 MBoe 450 MBoe 400 MBoe 450 MBoe CWC 5.25 MM 6 MM 6 MM 5.7 MM…
  29. November 2014 Investor Presentation – EOG Resources, Inc. – slide 29
    Gonzales County Neuse Unit 1H 4,170 Bopd Boothe Unit 12H, 13H Atascosa County 2,945 and 2,640 Bopd Stockhorst Unit 1H 2,105 Bopd DeWitt County San Antonio Boothe Unit 14H, 15H 3,310 and 3,445 Bopd Karnes County Lake Unit…
  30. November 2014 Investor Presentation – EOG Resources, Inc. – slide 30
    Transformed into High ROR Crude Oil Growth Play Through Improved Completions Canada Delivering 100% Direct ATROR* from Core and Antelope State Line Stanley, ND - Bakken Core 90,000 Net Acres Bakken - Antelope Extension 20,000 Net Acres…
  31. November 2014 Investor Presentation – EOG Resources, Inc. – slide 31
    Spud-to-TD* Average Completed Well Cost* (Days) (MM) 22.7 10.5 10.4 9.3 8.7 16.1 13.5 12.5 2012 2013 2014 Current 2012 2013 2014 Current YTD YTD * Normalized to 10,000 lateral. EOG_1114 v2-30
  32. November 2014 Investor Presentation – EOG Resources, Inc. – slide 32
    10 Years of High-Return Drilling Inventory Net Net Net to EOG % Direct Basin Play Acres Locations MMboe* Crude Oil API ATROR** DJ Codell 85,000 225 125 78% 36 100% Niobrara 50,000 235 85 71% 35 45% Powder River Parkman 30,000 115 75…
  33. November 2014 Investor Presentation – EOG Resources, Inc. – slide 33
    Targeting Codell and Niobrara, 39 Net Wells in 2014 Experimenting with Larger Frac Design Niobrara Target Economics for 9,400-Foot Laterals Codell Jubilee Jubilee 151-1034H Codell Niobrara 555-1034H 152-1034H 553-1034H 153-1034H…
  34. November 2014 Investor Presentation – EOG Resources, Inc. – slide 34
    Targeting Parkman and Turner, 34 Net Wells in 2014 Wyoming Experimenting with Larger Frac Design Parkman Turner Lateral Length 7,300 8,200 EUR/Well (Mboe) Gross 850 860 NAR 680 705 CWC (MM) 7.0 7.5 Direct ATROR* 100% 100% Parkman…
  35. November 2014 Investor Presentation – EOG Resources, Inc. – slide 35
    Trinidad and Tobago Trinidad ATLANTIC Expect Full Contract Deliverability in 2014 OCEAN TRINIDAD 4(a) 2H 2014 Drilling Program to Maintain Future U(b) U(a) Deliverability SECC - Plan to Drill 3 Net Wells VENEZUELA United Kingdom United…
  36. November 2014 Investor Presentation – EOG Resources, Inc. – slide 36
    Crude Oil* 2014 Bbld /Bbl November 1 to December 31 192,000 96.15 2015 January 1 to June 30 47,000 91.22 July 1 to December 31 10,000 89.98 Natural Gas* 2014 MMBtud /MMBtu December 1 to December 31 330,000 4.55 2015 January 1 to…
  37. November 2014 Investor Presentation – EOG Resources, Inc. – slide 37
    Rate-of-Return Focused Investments Drive Shareholder Value and Growth Peer-Leading Organic Crude Oil Production Growth 2014E ROE/ROCE Average of Majors, Integrateds and Independent E&Ps; Exploration Focus - Premier Acreage Positions -…

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