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JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc.

EOG Resources, Inc. · Jan 10, 2012 · 32 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. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 1
    NYSE Stock Symbol: EOG Investor Relations Contacts Common Dividend: 0.64 Maire A. Baldwin, Vice President - IR Basic Shares Outstanding: 268.9 Million (713) 651-6364, Fax (713) 651-6473 mbaldwineogresources.com Elizabeth M. Ivers,…
  2. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 2
    Strong Oil/Liquids Growth Majority is Crude Oil and Condensate 2010 +35% 2011E* +51% 2012E** +30% High-Value Production Generates Strong Growth in - EBITDA/Share - Cash Flow/Share - Earnings/Share Eagle Ford Crude Oil Asset…
  3. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 3
    Exploit Expertise in Horizontal Shale Technology to Capture First/Early Mover Positions in Crude Oil/Liquids Resource Plays - Leader in Horizontal Technology - Bullish on Long-Term Oil Fundamentals - Higher Margin Business Maintain…
  4. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 4
    Continue to Explore for New Hz Oil/Liquids Prospects Onshore North America Improve Recovery Factor in Existing Plays - Current Low Recovery of Oil-in-Place Eagle Ford 4% RF Bakken 10% RF - Current Focus on Well Spacing Secondary…
  5. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 5
    2 4 6 8 10 12 00 10000 12000 2000 4000 6000 8000 * Source: EIA Jan-1920 Jan-1923 Jan-1926 Jan-1929 Jan-1932 Jan-1935 Jan-1938 Jan-1941 Jan-1944 Jan-1947 Jan-1950 Jan-1953 Jan-1956…
  6. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 6
    First Mover in All U.S. Unconventional Horizontal Oil Plays Eagle Ford Biggest Oil Producer Premier 535,000 Net Acre Oil Window Bakken/Three Forks One of the Top Oil Producers in North Dakota 600,000 Net Acres Barnett Combo Biggest…
  7. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 7
    Capital Structure Active Drilling Program with Large Capex Requirements 2011 - 2012 to Hold Core Lease Positions - Plan to Execute with High ROR Program and Only Moderate Leverage On Track to Sell 1.6 Bn of Natural Gas and Midstream…
  8. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 8
    2011E Capex - 6.8 to 7.0 Bn* Including Facilities and Midstream Gathering, Exploration and Processing and Other Development Facilities 9% 7% Exploration and Development 84% Exploration and Development 83% 80% Focused…
  9. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 9
    2012E Capex 90% Focused on High ROR Crude Oil or Liquids-Rich Gas - Remaining 10% Allocated to Dry Gas Drilling to Hold Acreage If WTI Averages 85+ Capex Will Be at Least at 2011 Levels - Total Liquids Growth 27% vs. 2011 If WTI…
  10. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 10
    YTD Preliminary 9 Months FY 2010 2011 2011E* 2012E 2013+ Crude Oil and Condensate 35% 51% 51% 30% NGLs 29% 40% 35% 18% Continued Total Company Liquids 33% 47% 47% 27% *** Double Digit Growth North American Gas** -2% -3% -7% Other…
  11. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 11
    Crude and Condensate Total Liquids (Mbd) (Mbd) 195 154 147 113 105.1 74.7 78.8 55.2 61.5 45.5 43.4 31.2 2007 2008 2009 2010 2011E* 2012E** 2007 2008 2009 2010 2011E* 2012E** * Based on mid-point of full-year…
  12. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 12
    40% 30% 20% 10% Co. 9 Co. 10 0% EOG* Co. 1 Co. 2 Co. 3 Co. 4 Peer Co. 5 Co. 6 Co. 7 Co. 8 Avg -10% Source: Barclays Research, October 2011. * Peers: APC, APA, CNQ, CVE, CHK, DVN, NFX, NBL, OXY and PXD.…
  13. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 13
    79% 76% 75% 71% 69% 71% 59% 53% 47% 41% 29% 31% 29% 24% 25% 21% Preliminary 2006 2007 2008 2009 2010 YTD 2011 2011E** 2012E*** Liquids (Crude Oil and NGLs) Natural Gas * 2006 9 Mos 2011 based on North American…
  14. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 14
    Oil Recent Moderate Differential LLS to WTI New EOG Unloading Facility at St. James, LA In-Service April 2012 - Up to 100 MBopd EOG Capacity - Option to Bring in EOG Crude from Various Plays Bakken Eagle Ford Others - First Mover…
  15. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 15
    170% 140% 110% 80% 50% 20% Co. 11 Co. 12 -10% EOG Co. 1 Co. 2 Co. 3 Co. 4 Co. 5 Peer Co. 6 Co. 7 Co. 8 Co. 9 Co. 10 Avg -40% Source: Goldman Sachs estimates December 23, 2011, 113.00 WTI and 3.70 Henry Hub…
  16. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 16
    EBITDA Per Share Cash Flow Per Share 50% 50% 40% 40% 30% 30% 20% 20% 10% 10% 12 12 0% 0% EOG 1 2 3 4 5 6 Peer 7 8 9 10 11 EOG 1 2 3 4 5 6 Peer 7 8 9 10 11 Avg Avg -10% -10% Source: Goldman Sachs estimates…
  17. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 17
    250% 200% Peer Average 150% 100% 50% 0% EOG Co. 1 Co. 2 Co. 3 Co. 4 Co. 5 Co. 6 Co. 7 * Cash flow per barrel divided by F&D costs; Source: Bernstein Research, December 2011 Peers Include: APA, APC, CHK, DVN, ECA,…
  18. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 18
    0.70 0.64 0.61 0.60 0.58 0.51 0.50 0.40 0.36 0.30 0.24 0.20 0.16 0.12 0.10 0.10 0.08 0.08 0.06 0.07 0.00 1999* 2000* 2001* 2002* 2003* 2004* 2005 2006 2007 2008 2009 2010 2011 12 Dividend Increases in 12…
  19. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 19
    EOG Has Captured the Biggest Lower-48 Net Crude Oil Discovery in Past 40 Years Captured Reserves* Oil 690 MMBo NGLs 100 MMBbl Gas 661 Bcf San Antonio Total 900 MMBoe, NAR Largest Oil Producer in the Eagle Ford 53 MBoepd, Net…
  20. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 20
    Direct *ATROR% 140 120 100 5.5 MM EOG 2012 Target 80 60 7.0 MM Peer Well Cost 40 20 0 5.0 5.5 6.0 6.5 7.0 7.5 8.0 8.5 Completed Well Cost (MM) * Current 5 Year NYMEX Strip, 95 flat thereafter, 2012 NYMEX Average…
  21. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 21
    Well Quality is Improving - IP Rate of Some Recent Wells Approaching 3,000 Bopd Plus NGLs and Gas Early Positive Downspacing Results - Testing 7 Downspaced Pilot Patterns Well Costs Decreasing - Self-Sourced Fracs Will Be Big Cost…
  22. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 22
    2.0 1.8 *Based on Consistency of Reservoir Flow Rate and Liquid Content 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2 0.0 EOG Co. 1 Co. 2 Co. 3 Co. 4 Co. 5 Co. 6 Co. 7 Co. 8 Co. 9 Co. 10 Co. 11 Co. 12 Source: Bernstein Research…
  23. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 23
    One of the Top Oil Producers in North Dakota and Rocky Mountains Clarks Creek 3-0805H Three Forks 1,384 Bopd 600,000 Total Net Acres Early, Premier Position Canada - Primary Leasing Activity 2004 - 2007 Hardscrabble 2012 13-3526H…
  24. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 24
    600 Total 2,428 Wells 500 Average EUR 327 MBO 400 Average 300 200 100 0 EOG RESOURCES, HELIS OIL & GAS WHITING MUREX DAKOTA-3 E&P SLAWSON QEP ENERGY HUNT OIL FIDELITY ENERPLUS BRIGHAM OIL & GAS KODIAK OIL & GAS…
  25. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 25
    195,000 Net Acres in Core Area Recent Strong Wells Montague and Cooke Counties Bopd + Mcfd (Rich Gas) Combo Core Area 195,000 Net Acres - Abbey, Paul, Wales, Welsh 400 - 635 264 - 492+ (6 Wells) - Farrell A and B Unit (4 Wells)…
  26. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 26
    131,400 Net Acres Captured in Play Core University 9 2802H Area - Completed 26 Horizontal Wells to Date Mayer 5002H - 59,000 Acres Proven to Date - Two Separate Pay Targets Middle and Upper IRIO Linthicum M 1H Core Area…
  27. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 27
    Control 106,000 Total Net Acres in Play EOG Acreage - Completed 19 Horizontal Wells to Date - 62,000 Acres Proven to Date Prospective Eddy Lea Area - Multiple Bone Spring Objectives Underlie Shale Potential* Reserves 65 MMBoe,…
  28. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 28
    Haynesville/Bossier Shale Play Area 175,000 Net Acres 78% in Sweet Spot Sweet Spot - Third Largest Holder of Sweet Spot Acreage TX LA Potential Reserves* 11 Tcf, NAR - Haynesville 5.6 Tcf - Bossier 5.4 Tcf Have Decreased…
  29. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 29
    210,000 Net Acres in Pennsylvania Bradford Area - 50,000 Acres Bradford Area, 100% WI - 160,000 Acres Elk/Clearfield Area, 50% WI Elk/Clearfield Area Potential Reserves* 3.3 Tcf, NAR 9+ MMcfd PHC 26H Improvement in Well…
  30. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 30
    Trinidad and Tobago Trinidad ATLANTIC OCEAN TRINIDAD Developing 350 Bcf Toucan Discovery 4(a) U(a) - Will Supply Portion of 2012 - 2015 Gas Contracts U(b) SECC VENEZUELA United Kingdom United Kingdom…
  31. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 31
    EOG Reserves Within 5% of Independent Engineering Analysis Prepared by DeGolyer and MacNaughton 23 Straight Years Reviewed 77% of Proved Reserves in 2010 Conservative - Successful Efforts Accounting - Zero Goodwill - Credit Ratings…
  32. JANUARY 2012 CORPORATE PRESENTATION – EOG Resources, Inc. – slide 32
    EOG Has Largest Proven U.S. Horizontal Drilling Oil Inventory in Entire Industry EOG Has Captured Low Cost First-Mover Advantage Key Differentiator Horizontal Oil Assets Will Drive Strong 2011 2012+ Production Growth with High Margins -…

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