All Time Horizons Matter Short Term Medium Term Long Term Safely execute the Manage path to cash Maintain capital business flow neutrality flexibility Deliver current year Maintain balance sheet Lower the cost of plan for lower…
Long-Term Performance Cash Flow Neutrality Sustainable Growth Reserves Ability to achieve cash flow neutrality at 8.9 BBOE 60/BOE Brent in 2017 and beyond Additional capital and operating cost flexibility Deflation capture…
Jeff Sheets EVP, Finance and CFO
2Q15 Performance Adjusted Earnings Highlights Strong operational performance; year-over-year production growth of 4% Adjusted 14% year-over-year lower operating costs, adjusted for Earnings 2,003 pension settlement and…
2Q15 Production From Continuing Operations 4% PRODUCTION GROWTH 69 30 Liquids 37 APLNG Gas 18 Other Gas 14 1,556 1,595 Total 69 2Q14 Downtime & Dispositions Net Growth 2Q15 All volumes in MBOED. 1 Excludes Libya…
1H15 Performance Company Cash Flow B 1H15 Marker Prices 2.4 Brent 57.95/BBL WTI 53.20/BBL 4.4 Henry Hub 2.82/MMBTU 0.6 2Q15 1.1 Debt of 24.9B Debt-to-capital ratio of 34% 5.7 1.8 0.1 5.1 3.8 2015 Beginning CFO Excluding…
2015 Guidance Update Expect to achieve higher end of full-year 2-3% production growth target 3Q production range of 1,510 1,550 MBOED Guidance reductions provide a net cash flow benefit of 0.9B Capital expenditures lowered from…
Matt Fox EVP, Exploration & Production
Lower 48 and GOM Exploration Update Lower 48 Surmont 2Q15 production of 556 MBOED; increased 3% vs. 2Q14 Crude oil production increased 9% vs. 2Q14 Currently running 13 rigs 6 in Eagle Ford, 4 in Bakken and 3 in Permian Pilot…
Canada and Alaska CD5 AND DRILL SITE 2S SPUD FIRST WELLS CD5 Canada Alaska 2Q15 production of 306 MBOED; increased 8% vs. 2Q14 2Q15 production of 174 MBOED Surmont 2 first steam in May; on track for first production First wells…
Europe and Asia Pacific & Middle East Europe 2Q15 production of 206 MBOED Achieved first production at Enochdhu; Alder topsides module installed Eldfisk II and Ekofisk South continuing to ramp up Successfully completed turnaround…
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