Barclays CEO Energy Power Conference Jeff Miller President, Halliburton September 8, 2015
Comparing the Cycles Index of the US Rig Count 1.00 Indexed Rig Count 0.80 0.60 1997-2001 -43% 2001-2008 2008-2011 -53% 2014-Curr -57% 0.40 1 7 13 19 25 31 37 43 49 55 61 67 73 79 85 91 97 103 109 115 121 127 133…
Macro Outlook Customer Capital Allocation Lower Average Cost of Supply Higher Average Cost of Supply Lowest Cost of Supply High OPEC North America Source of Flexible Growth Unconventionals Full-Cycle Project Returns North…
Why North America is Attractive Service Opportunity % of Total Spend Per Well Up to…
Strategic Markets Deep Water Mature Fields Unconventionals Lowest Cost per Foot Incremental Barrels and Lowest Cost per BOE Reservoir Delivery Maximum Recovery We collaborate, execute and innovate to create value for our…
Challenges in Deepwater 400 80% 48% Development 70% 300 60% Exploration Success Rate Demand by Well Type 50% (2010-2014) Well Count 200 40% 30% 100 20% 10% 55% Development 0 0% 2010 2011 2012 2013 2014…
Improving Unconventional Economics DRILLING SUPPLY FRAC OF THE OPTIMIZATION CHAIN FUTURE + + COST PER BOE = (PRODUCTION UNIT COST) + SUBSURFACE CUSTOM INSIGHT CHEMISTRY 2014 HALLIBURTON. ALL RIGHTS RESERVED. 10
Improving Unconventional Economics DRILLING SUPPLY FRAC OF THE OPTIMIZATION CHAIN FUTURE CUSTOMER ADOPTION EARLY EARLY LATE LAGGING ADOPTERS MAJORITY MAJORITY ADOPTERS + + = + TIME SUBSURFACE CUSTOM INSIGHT CHEMISTRY…
Reservoir Recovery Planned Equidistant well spacing Geometric stage placement 2014 HALLIBURTON. ALL RIGHTS RESERVED. 12
Reservoir Recovery Planned Realized BYPASSED RESERVES BYPASSED RESERVES 2/3 of Stages Underperform Less than 8% Oil Recovery Factor 2014 HALLIBURTON. ALL RIGHTS RESERVED. 13
Improving Unconventional Economics DRILLING SUPPLY FRAC OF THE OPTIMIZATION CHAIN FUTURE CUSTOMER ADOPTION EARLY EARLY LATE LAGGING ADOPTERS MAJORITY MAJORITY ADOPTERS + + = + TIME SUBSURFACE CUSTOM INSIGHT CHEMISTRY…
Portfolio Approach to Technology INFILL PADS Maximizing Recovery PRODUCTION REFRAC PADS NEW WELLS Lowest Cost Per Increasing Current Wells Barrel Reserves 2014 HALLIBURTON. ALL RIGHTS RESERVED. 15
Barclays CEO Energy Power Conference Christian Garcia Acting CFO
North America Outlook Rig count appears to be bottoming but currently has unfavorable 1.00 Indexed US Rig Count since the end of the second quarter mix toward vertical rigs. 0.80 3Q15 vs 2Q15 9% 0.60 -6% 0.40 1 7 13 19…
International Outlook International Rig Count is Down 13% Year-to-Date Middle East 2% Land 11% Offshore 19% Offshore vs Land Activity and Pricing Currency Headwinds Source: Baker Hughes International Rig Count 2014…
Halliburton and Baker Hughes Creating a Leading Oilfield Services Company Shareholder Timing Agreement Substantial Compliance Approval With DOJ with DOJ 2nd Request Deal Targeted Closing Announced In Late 2015 Next Steps…
Summary Z Looking through the Cycle North America offers the greatest upside in the recovery Making progress towards the Baker Hughes acquisition 2014 HALLIBURTON. ALL RIGHTS RESERVED. 20
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