Third Quarter 2014 Earnings Conference Call and Webcast Pat Yarrington Vice President and Chief Financial Officer Jeff Shellebarger President, Chevron North America Exploration & Production Jeff Gustavson General Manager,…
Sources and Uses of Cash Billions 3Q14 2014 YTD 15 40 0.5 3.75 2.6 1.0 30 1.25 5.9 10 5.3 2.2 2.0 20 5 25.0 25.7 8.7 8.3 10 0 0 Sources Uses Sources Uses Sources of Cash: Cash flow from operations* Net debt…
Chevron Earnings 3Q14 vs. 3Q13 Millions Positive FX swing (640 million) Downstream Other 79 Upstream Upstream Lower realizations and liftings Higher OPEX and DD&A -443 1,007 5,593 + FX swing 4,950 + Lower exploration…
Chevron Earnings 3Q14 vs. 2Q14 Millions Positive FX swing (600 million) Upstream Downstream Other -123 Upstream Lower realizations -615 666 Gains on asset sales + FX swing 5,665 5,593 5,593 + Lower exploration expenses…
U.S. Upstream Earnings 3Q14 vs. 2Q14 Millions Realizations Exploration Expenses Other Lower liquids and natural gas prices Volumes -85 -175 40 95 Higher liquids volumes 1,054 Lower exploration expense 929 Economic buyout…
International Upstream Earnings 3Q14 vs. 2Q14 Millions Realizations Lower crude oil prices and Liftings Asset liftings FX Other Sales -420 -95 -35 Absence of gain on sale of interests in Chad/Cameroon -430 490 4,210 3,720…
Worldwide Net Oil & Gas Production 3Q14 vs. 2Q14 MBOED Turnaround Asset Permian growth Shale & Activity Sales Tight 23 -18 Lower planned turnaround activity 18 Chad sale 2,568 2,545 2Q14 3Q14 2014 Chevron…
Worldwide Net Oil & Gas Production 3Q14 vs. 3Q13 MBOED Turn- Production around Entitlement Shale & Activity Effects Asset Base Higher Permian and Vaca Tight 19 Sales Business/ Muerta production -28 Other -20 40 -28 Lower…
U.S. Downstream Earnings 3Q14 vs. 2Q14 Millions Asset Chemicals/ Sales Other Completion of turnarounds and Opex reliability investments Realized 115 -123 Margins Volumes 110 Pascagoula Base Oil Plant 30 contributions 160…
International Downstream Earnings 3Q14 vs. 2Q14 Millions Other Lower crude supply costs FX Timing 54 Positive inventory effects Effects Margins 105 Favorable FX 70 578 145 204 2Q14 3Q14 Earnings Earnings 2014…
North America Exploration and Production Update 2014 Chevron Corporation
North America E&P Overview Canada 30% of Chevron Production 70 MBOED Deep, Diverse Portfolio Legacy base business Deepwater Shale & Tight LNG San Joaquin Appalachian/ Valley 176 MBOED Michigan Strong Cash Generator…
Active Deepwater Exploration & Development Producing Assets Major Capital Projects Leading Position Discoveries Main Pass Largest leaseholder Planned Exploration Drills Chevron Leases Net production 200 MBOED* Bay Marchand…
Strong Permian Position Leading Position Midland and Delaware Basin* Largest undeveloped leaseholder Net Unconventional Production (MBOED) 2 MM net acres 250 17,000 prospects 200 Advantaged Acreage 60% no royalty 150 30% low…
Midland Basin Increasing Activity and Exceeding Plan 500,000 net acres 8,200 liquids-rich prospects 47 MBOED* production 18 active rigs Midland 370 wells expected in 2014 Odessa Bradford Ranch horizontal program…
Delaware Basin Expanding Horizontal Programs 1 million net acres Hobbs, NM 6,400 liquid-rich prospects 48 MBOED* production 11 active rigs Monahans, TX 180 wells expected in 2014 Salado Draw horizontal program ongoing…
Other Shale and Tight Activity Duvernay 330,000 net acres 90% of acreage in liquids rich window Completed farm-down with carry Two horizontal appraisal well pads spudded in Central Focus Area Utica / Marcellus Prioritized…
Other Highlights Upstream El Segundo, CA Refinery Australia continued to progress Gorgon & Wheatstone LNG projects Bangladesh achieved first production expansion of Bibiyana field Downstream U.S. completion of several…
Key Messages Priorities Unchanged Consistent Strategies Execution Focus Value Creation Macro Environment Response Long-Term View for Investments Sharpened Cost and Capital Management Value-Driven Portfolio Decisions…
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