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MARCH 2012 CORPORATE PRESENTATION – Chevron Corp

Chevron Corp · Mar 13, 2012 · 50 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. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 1
    Upstream George Kirkland Vice Chairman and Executive Vice President Gary Luquette President North America Exploration and Production 2012 Chevron Corporation
  2. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 2
    A Strong Worldwide Portfolio 748 MBOED 617 MBOED 2011 Net Production By Region North America Europe, Eurasia and Middle East 2.7 MMBOED 2011 Proved Reserves By Region 656 MBOED 653 MBOED Africa & Latin America…
  3. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 3
    Upstream Themes Strategy Performance Growth 2012 Chevron Corporation 3
  4. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 4
    Upstream Continues to Execute the Right Strategies Grow profitably in core areas and build new legacy positions Operational excellence Maximizing value of base business Selection and execution of major capital projects Superior…
  5. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 5
    Resource to Reserves to Production Resource Factory Exploration Resource to Reserves P1 Residual hydrocarbons P2-P6 Production Business Development Mobile in-place hydrocarbons 2012 Chevron Corporation 5
  6. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 6
    Upstream Capital Investments 2012 Capital & Exploratory: 28.5 Billions 35 30 Atlas(1) Exploration 25 20 Major Capital 15 Projects 10 Marcellus(2) 5 Base 0 2010 2011 2012 (1) Treated as a business combination; not…
  7. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 7
    Upstream Themes Strategy Performance Growth 2012 Chevron Corporation 7
  8. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 8
    2011 Net Production Net Production: 2,673 Thousand Barrels of Oil-Equivalent Per Day Base Business 2,763 Price & External Constraints Major Capital (32) Projects 2,673 (103) 45 2010 2011 Actual Actual 79/bbl 111/bbl…
  9. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 9
    Base Business Performance Continues to Deliver Value Production Efficiency* Efficiency gains deliver Percent cumulative 100 MBOED net production 96 Optimization and process improvements generate 94 revenue and cost savings…
  10. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 10
    Major Capital Projects Continue to Drive Long-Term Reserve Growth Cumulative MCP Resources* and In 2010, expected recovery of Proved Reserves (Billion BOE) 30 sanctioned greenfield MCPs 8 2011 FIDs 5.6 billion BOE 7 6 5…
  11. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 11
    Strong Reserve Performance 2011 Reserve Replacement Ratio: 171% Reserve Billion Barrels of Oil-Equivalent Replacement Ratio Net 102% Additions 11.24 3 Year 10.55 Production Price 92% (0.98) 5 Year (0.15) 1.82 2010 2011…
  12. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 12
    2011 Startups and Ramp-ups AOSP Karachaganak Expansion Train 4 Platong II 3 Key Project Startups 4 Key Project Ramp-ups Perdido Frade Mafumeira Tombua- Norte Landana 2012 Chevron Corporation 12
  13. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 13
    Portfolio Delivers Strong Realizations and Competitive Cost Structure Realizations Upstream Costs per BOE per BOE 80 1 45 4 65 30 1 3 4 3 3 1 50 3 15 35 0 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 Realizations…
  14. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 14
    Portfolio Delivers Superior Cash Margins Oil and Gas Cash Margins Per BOE 38.86 40 35 2011 30 27.62 25.68 25 2010 2011 22.47 2011 20.49 19.91 20 2010 2010 2010 2009 2010 2010 15 2009 2009 2009 2009 2009 10 5 0 Based…
  15. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 15
    Superior Financial Performance Distancing From Competitors 30 1 25 1 26.36 2011 Adjusted 20 2 1 Earnings Per BOE 15 2 10 5 0 2007 2008 2009 2010 2011 60 50 % 2011 Adjusted 29 ROCE 40 30 3 3 2 20 4 10 1 Ranking…
  16. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 16
    Upstream Themes Strategy Performance Growth 2012 Chevron Corporation 16
  17. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 17
    18 Million Acres in Portfolio Additions Since 2009 Canada Thousand Acres Beaufort Poland (Chevron Net) Duvernay Marcellus Romania Utica Norway China DW Antrim Bulgaria Black Sea Liberia Beaufort Flemish Flemish Pass Pass…
  18. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 18
    Consistent Exploration Success BBOE % Cumulative Resources* 10.5 Resource Adds 49 Success Rate Added From Exploration 10 Year Total 10 Year Average BBOE 12 10 8 6 4 2 0 2011 Key Discoveries 2002 2011 2010 Key…
  19. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 19
    Superior Exploration Performance Resource* Replacement Average Underlying Finding Costs* 2002-2010 Percent Replacement 2002-2010 Per BOE 90% 3.58 3.19 3.24 69% 68% 2.54 59% 2.02 48% 1.83 37% 59% 37% Higher resource…
  20. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 20
    Delivering Sustained Resource Growth 2004 2011 Resource* Growth: 17% Billion Barrels of Oil-Equivalent 70 Additions Distribution 60 Production Africa 50 Sales Europe, Eurasia and Middle East 40 Asia-Pacific 30 20 Americas…
  21. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 21
    Key 2012 Exploration Activity Conventional Orphan Basin Canada GOM Shelf GOM DW Deep Gas DW China Liberia Nigeria Angola 2012 Australia Exploration C&E Unconventional Conventional 84% Focus Area Significant…
  22. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 22
    Key 2012 Exploration Activity Unconventional Silurian (Poland, Romania and Bulgaria) Duvernay Marcellus & Piceance Utica Wolfcamp Haynesville & Avalon Longli (China) & Bossier 2012 Vaca Muerta Exploration C&E…
  23. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 23
    A Strong Project Inventory Drives Future Growth Project Phase Project Spend Number of Projects Spend estimates for 2012 to 2017 as a percentage of total spend 100 Ramping-up 28% 75 Deepwater Construct 37% 50 14% Conventional…
  24. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 24
    Continued Growth From Major Capital Project Startups Between 2012 and 2014 28 Project Startups 11 Project Startups 250MM net Chevron Share 1B net Chevron Share Tahiti 2 Chuandongbei Jack/St. Malo Big Foot Agbami 2 EGTL…
  25. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 25
    Advancing the Inventory FID Milestones 2012 to 2014 12 Project FIDs 1B net Chevron Share Rosebank TCO Future Growth Hebron Mad Dog II Knotty Head Vietnam Gas Funiwa PZ Stage 1 Gendalo-Gehem Lucapa Projects 1B Gorgon T4…
  26. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 26
    Major Capital Projects Drive Future Growth Net Production 950 MBOED MBOED in Construction and 3,500 3,300 Design Evaluate 3,000 Design Progressing 2,500 Construction Design/Evaluate 2,000 Projects to FID 1,500 Producing…
  27. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 27
    Exposure to Oil Pricing Remains Consistent Through 2017 Net Production Current portfolio tilted toward Percent oil and oil-linked gas 100 80 % Gas 75 Oil-linked Growth in LNG maintains exposure to oil pricing in 2017 Gas 50…
  28. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 28
    Upstream Themes Future Growth Deepwater Heavy Oil Unconventional Sour Oil and Gas LNG 2012 Chevron Corporation 28
  29. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 29
    Deepwater Projects Deliver Production Growth Net Production* Deepwater production grows to MBOED 470 MBOED by 2017 500 400 300 200 100 Evaluate Design 0 Construct 2012 2017 Producing LNG 2012 Chevron Corporation…
  30. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 30
    Growth in Deepwater from 2012 Startups Usan Agbami 2 Tahiti 2 February startup Total cost 1.9B Total cost 2.3B Peak capacity of Drill and complete Commenced water 180 MBOD 10 additional wells injection in February Ramp up to peak…
  31. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 31
    Future Growth in Deepwater from Mid-Term Startups Jack/St. Malo Big Foot Tubular Bells Startup in 2014 Startup in 2014 FID in October 2011 Production capacity of Production capacity of Startup in 2014 177 MBOED 79 MBOED Total cost…
  32. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 32
    Technology to Increase Recovery in the Lower Tertiary 20% recovery factor < 10% recovery factor Gas Injection for Optimized Enhanced Oil Waterflood Recovery Long Life Seafloor In-Well Pumps Natural Flow Pumps 2012…
  33. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 33
    Heavy Oil Delivers Legacy Production Net Production Heavy oil production 400 MBOED MBOED in 2017 500 400 300 200 100 Evaluate 0 Design 2012 2017 Construct Producing 2012 Chevron Corporation 33
  34. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 34
    Decades of Experience Drive Future Growth Opportunities in Heavy Oil Kern River Duri Wafra Produced 2 billion Produced 2 billion Produced 400 million barrels of oil barrels of oil barrels of oil Current recovery factor Current…
  35. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 35
    Technology Enables Improved Recovery Recovery (% Original Oil in Place) Best-in-Class 80 Reservoir and Heat Management Kern River 60 Dedicated 40 Heavy Oil Center of Excellence 20 Duri 0 Worldwide 1900 1920 1940 1960 1980…
  36. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 36
    Unconventional Oil and Gas Supports Growth Beyond 2017 Net Production Unconventional production grows to MBOED 175 MBOED by 2017 250 Duvernay Niobrara Antrim 200 Collingwood Marcellus Utica 150 Haynesville Longli Wolfcamp…
  37. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 37
    Strong Position in the Marcellus and Utica Shales CVX Acreage Marcellus: 700,000+ acres Marcellus Shale Early well results exceeding Utica Shale expectations Measured pace at current prices Building execution capability to…
  38. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 38
    Diverse Portfolio of Unconventional Resources in the U.S. Lower 48 3 million net acres in Thousand Acres 13 unconventional plays (Chevron Net) Utica Significant acreage with Wolfcamp - Delaware Wolfcamp - Midland wet gas and/or…
  39. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 39
    Future Growth Unconventional Focus on Europe Poland POLAND Completed seismic in 2011 Started 2nd well 1Q 2012 Romania Complete seismic in 2012 Exploration drilling to commence late 2012 Bulgaria 100% interest in one block…
  40. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 40
    Future Growth Global Unconventional Opportunities Canada Argentina China Increased Duvernay 110,000 acres through Joint Study Agreement position to 250,000 acres El Trapial position with Sinopec covering Initial drilling program…
  41. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 41
    Upstream Themes Future Growth Deepwater Heavy Oil Unconventional Sour Oil & Gas LNG 2012 Chevron Corporation 41
  42. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 42
    Sour Oil and Gas Major Capital Projects Unlock Additional Value Net Production Sour production grows to 500 MBOED MBOED by 2017 500 400 300 200 100 0 2012 2017 2012 Chevron Corporation 42
  43. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 43
    Future Growth Sour Oil and Gas CPC Expansion Tengiz FGP Chuandongbei Phased increase in Expect to enter FEED Startup in 2013 capacity to 1.4 MMBOD mid-2012 Total cost 4.7B by 2016 Peak capacity of 560 mmscf/d production Total cost…
  44. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 44
    LNG Drives Future Production Growth Net Production* LNG production grows to 460 MBOED MBOED by 2017 500 400 300 200 100 Evaluate 0 Design 2012 2017 Construct Producing 2012 Chevron Corporation *Production…
  45. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 45
    Angola LNG 2012 Startup Greenfield 1 x 5.2 MMTPA LNG plant First cargo in 2Q 175 MBOED peak production Flexibility to market globally 2012 Chevron Corporation 45
  46. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 46
    Gorgon: Achieving Milestones and Advancing Toward First LNG Progress 2012 Milestones Construction 40% complete First module on Barrow Island Dredging complete Start construction of domestic Development drilling continues gas…
  47. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 47
    Wheatstone: Awarding Contracts and Ramping Up Construction Activity Progress 2012 Key Milestones FID in September 2011 Completion of pioneer camp Project cost 29 billion Cut first steel on platform topsides Awarded 13 billion in…
  48. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 48
    Continued Exploration Success Builds Momentum for Australia LNG Expansions 13 Discoveries Added 7 TCF Plan to Drill 4 Impact 2009-2011 of Resources* Wells in 2012 Kentish Knock-1 Discoveries Brederode-1 Orthrus-2…
  49. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 49
    On Track to Deliver in 2017 Superior portfolio of Price Normalized Net Production MBOED producing assets with a 3,500 Strong queue of major 3,300 capital projects 3,000 That grow production to 2,704 2,794 2,738 2,745 3,300…
  50. MARCH 2012 CORPORATE PRESENTATION – Chevron Corp – slide 50
    On Track to Deliver in 2017 Superior portfolio of Net Production MBOED producing assets with a 3,500 Strong queue of major 3,300 capital projects 3,000 That grow production to 2,704 2,763 2,673 2,680 3,300 MBOED ... 2,500…

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