Second Quarter 2015 Earnings Call Jeff Woodbury Vice President, Investor Relations & Secretary July 31, 2015
Headlines Second quarter earnings of 4.2 billion Delivering on our investment and operating commitments Downstream and Chemical results underscore resilience of integrated model Upstream volumes of 4.0 MOEBD increased 3.6%;…
Business Environment Global economic growth improved in the second quarter U.S. economy rebounded Europe's economy improved China stabilized but Japan tapered Crude oil prices partly recovered; natural gas prices declined…
2Q15 Financial Results Earnings 4.2 Earnings Per Share Diluted (dollars) 1.00 Shareholder Distributions 4.1 CAPEX 8.3 Cash Flow from Operations and Asset Sales1 9.4 Cash 4.4 Debt 33.8 Billions of dollars unless specified…
2Q15 Sources and Uses of Funds Cash decreased by 0.8B in the second quarter Beginning Cash1 5.2 Earnings 4.2 Depreciation 4.5 9.4 Working Capital / Other 0.1 Proceeds Associated with Asset Sales 0.6 PP&E Adds / Investments and…
Total Earnings 2Q15 vs. 2Q14 Earnings decreased 4.6B due to lower Upstream earnings, partially offset by stronger Downstream and Chemical results Millions of Dollars 8,780 (5,850) 405 60 4,190 795 2Q14 U/S D/S Chem C&F…
Total Earnings 2Q15 vs. 1Q15 Earnings decreased by 750M as lower Upstream and Downstream earnings were partly offset by higher Chemical results Millions of Dollars 4,940 (824) (161) 264 (29) 4,190 1Q15 U/S D/S Chem C&F…
Upstream Earnings 2Q15 vs. 2Q14 Earnings down 5.9B due to lower realizations and decreased gains on asset sales, partly offset by favorable volume/mix effects Millions of Dollars 7,881 (4,530) 330 (1,650) 2,031 2Q14…
Upstream Earnings 2Q15 vs. 1Q15 Earnings decreased 824M as higher liquids realizations were more than offset by unfavorable volumes/mix and tax effects Millions of Dollars 600 (420) (1,000) 2,855 2,031 1Q15 Realization…
Downstream Earnings 2Q15 vs. 2Q14 Earnings increased 795M due to stronger refining margins, partially offset by higher maintenance Millions of Dollars 1,100 (80) (230) 1,506 711 2Q14 Margins Vol/Mix Other 2Q15 13
Downstream Earnings 2Q15 vs. 1Q15 Earnings decreased 161M due to higher maintenance activities, partly offset by improved refining margins Millions of Dollars 140 (160) 1,667 (140) 1,506 1Q15 Margin Vol/Mix Other 2Q15 14
Chemical Earnings 2Q15 vs. 2Q14 Earnings increased 405M reflecting higher margins and asset management gains, partly offset by unfavorable forex effects Millions of Dollars 20 50 1,246 340 841 2Q14 Margin Vol/Mix Other…
Chemical Earnings 2Q15 vs. 1Q15 Earnings increased 264M due to asset management gains, partly offset by higher maintenance Millions of Dollars 230 1,246 982 (10) 40 1Q15 Margin Vol/Mix Other 2Q15 16
Upstream Exploration and Projects Update Creating value through the cycle Pursuing high-quality resource additions Significant oil discovery in Guyana Ongoing drilling in Romania and Kurdistan Demonstrating project execution…
Upstream U.S. Lower 48 Onshore Update Unlocking value of a 15+ BOEB resource base 3-Year Average U.S. E&D Costs1 Cost per Barrel of Proved Reserves Added (/OEB) Leading producer onshore U.S. 30 Progressing development of Bakken,…
Summary Delivering on our investment and operating commitments Billions of dollars unless specified otherwise 1H15 Highlights Earnings 9.1 Capturing Downstream & Chemical value Upstream Production (MOEBD) 4.1 Superior project…
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