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Q2 2015 Earnings Call – Chesapeake Energy Corp

Chesapeake Energy Corp · Aug 5, 2015 · 20 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. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 1
    2Q 2015 EARNINGS August 5, 2015 1 I 2Q 2015 EARNINGS 8/5/2015
  2. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 2
    2Q15 FINANCIAL & OPERATIONAL RESULTS ADJ. EARNINGS/FDS ADJ. EBITDA PROD. and G&A EXP. ( 0.11) 600 mm 8% YOY 5.40/boe(1) ADJ. PRODUCTION LIQUIDS MIX(3) ADJ. OIL PRODUCTION 13% YOY (2) 28% of Total Production 11% YOY…
  3. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 3
    NORTHEAST OPERATIONS CONTINUOUS PERFORMANCE Marcellus Utica Annual Spuds per Rig Operational performance delivering production with less capital 30 23 25 18 19 15 More footage drilled per day 13 14 Fewer drilling days 2012…
  4. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 4
    UTICA PRESERVING VALUE THROUGH CURTAILMENT 900 Chesapeake Marketed vs. Capacity Daily Spot Sales TETCO OPEN 800 700 TGP Utica BH Short Term FT DTI Natrium to Market 275 mmcf/d MPP Gross operated gas curtailment TGP Utica BH…
  5. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 5
    UTICA CONCENTRATED LEASEHOLD IN DRY GAS WINDOW Significant position in emerging dry gas Utica Dry Gas Opportunity CHK Leasehold 300,000 net acres in dry gas window 159,000 net acres concentrated in development fairway…
  6. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 6
    POWDER RIVER BASIN PREMIER POSITION WITH MULTIPLE STACKED HORIZONS Sussex Niobrara Large stacked horizon operated core position Parkman Mowry Frontier Turner 365,000 net acres; 787,000 net stacked Federal Unit Play Outlines…
  7. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 7
    POWDER RIVER BASIN SUSSEX CONTINUOUS IMPROVEMENT Sussex Well Results Average Spud to Spud Days 35 Federal Unit (Approved) 28 Sussex Core CHK Leasehold 21 21 18 Peak 1,000 boe/d 1H 2014 2H 2014 1H 2015 2H 2015E FY 2016E (88%…
  8. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 8
    EAGLE FORD LOW-COST VALUE GENERATION 2Q15 operational updates 2Q15 average completed well cost of 5.2 mm First Upper Eagle Ford well planned for 3Q15 6 wells drilled with lateral lengths greater than 9,000 Currently drilling our…
  9. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 9
    EAGLE FORD SPACING TEST UPDATE 60 Southern Wet Gas Area No appreciable production impact from Cumulative Oil Mbo reduced spacing 40 Ongoing tests continue to support increase of 500' 20 600 700 wells to 4,500 total undrilled…
  10. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 10
    HAYNESVILLE STRATEGIC DEVELOPMENT DRIVES VALUE CREATION 2Q15 operational updates Maintained 6 rig development program Two 7,500 lateral tests flowing an average of 16 mmcf/d for over 100 days 9% sequential production increase to…
  11. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 11
    HAYNESVILLE BREAKING THROUGH DEVELOPMENT BARRIERS 8.6 mm 7,500 lateral test results Estimated D&C cost Production test exceeds offset wells by 10 mmcf/d and 1,300psi flowing pressure Wells continue to clean up and improve in…
  12. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 12
    ANADARKO BASIN STACKED RESERVOIRS Approximate Net Acres Des Moines GW: 334,000 Douglas: 27,000 Checkboard: 63,000 Tonkawa: 243,000 Upper Cleveland: 134,000 Lower Cleveland: 49,000 Hoxbar Oil Sands: 140,000 Woodford: 35,000…
  13. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 13
    CHESAPEAKES OKLAHOMA STACK OVERVIEW CHK NET ACRES TOTAL NET LOCATIONS(1) NET PROVED RESERVES 1.8million 4,500 377 mmboe ANNUAL CURRENT NET RESOURCE(2) NET PRODUCTION DAILY PRODUCTION 36.1mmboe (2015E) 102mboe/d 2.1bboe NET…
  14. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 14
    CHK GAS DIFFERENTIALS 1.80 - 2.02 1.80 - 2.02 1.85 Reduced 2015 differentials by 0.07/mcf due to lower estimated MVC shortfall payment (1) 2016 assumes activity consistent with 4Q 2015 budget 15 I 2Q 2015 EARNINGS 8/5/2015
  15. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 15
    CHK GAS DIFFERENTIALS BY COMPONENT (1) 2.07 2.00 1.96 1.82 1.88 1.76 1.39 1.37 Estimated non-basis differential marginally increases in 3Q15 and 4Q15 Largely due to portfolio mix CHK continues to realize increased volume…
  16. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 16
    2015 CAPEX AND ACTIVITY Note: Data above based on Outlook issued 8/5/2015 17 I 2Q 2015 EARNINGS 8/5/2015
  17. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 17
    WIDESPREAD STACKED-PAY OPPORTUNITIES ACTIVITY IN MAJOR MIDCONTINENT PRODUCTIVE FORMATIONS CLEVELAND SANDS PENNSYLVANIAN HOXBAR OIL SANDS OSWEGO MT. FRONT WASH CHESTER MISSISSIPPIAN MERAMEC OSAGE EMERGING PLAYS…
  18. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 18
    HAYNESVILLE ENHANCING BASE PERFORMANCE REFRAC UPDATE Pre and Post Refrac Rate 4,000 30 Well Count Over 700% improvement in production 25 Avg Production Rate (Mcfpd) (based on 30 day avg. of post & pre) 3,000 20 Avg 30 day…
  19. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 19
    RECONCILIATION OF ADJUSTED EARNINGS PER SHARE ( in mm) Three Months Ended: 6/30/2015 6/30/2014 Net income available to common stockholders (4,151) 145 Adjustments, net of tax: Unrealized (gains) losses on commodity derivatives 220…
  20. Q2 2015 Earnings Call – Chesapeake Energy Corp – slide 20
    CORPORATE INFORMATION CHESAPEAKE HEADQUARTERS PUBLICLY TRADED SECURITIES CUSIP TICKER 6100 N. Western Avenue 3.25% Senior Notes due 2016 165167CJ4 CHK16 Oklahoma City, OK 73118 6.25% Senior Notes due 2017 027393390 N/A WEBSITE:…

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