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Q3 2015 Earnings Presentation – EOG Resources, Inc.

EOG Resources, Inc. · Nov 5, 2015 · 27 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. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 1
    NYSE Stock Symbol: EOG Investor Relations Contacts Common Dividend: 0.67 Cedric W. Burgher, SVP Investor and Public Relations Basic Shares Outstanding: 550 Million (713) 571-4658, cburghereogresources.com David J. Streit, Director IR…
  2. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 2
    3Q 2015 Increased Delaware Basin Resource Estimate by 1.0 BnBoe* - Increased Wolfcamp Shale Resource Estimate by 500 MMBoe* - Introduced Second Bone Spring Sand Resource Estimate of 500 MMBoe* - Total Resource Estimate 2.35 BnBoe*…
  3. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 3
    Direct ATROR* at Flat Oil Prices Eagle Ford Bakken/Three Forks Core Delaware Basin Wolfcamp - Oil and Combo Delaware Basin 2nd Bone Spring Sand Delaware Basin Leonard 40% 70% 50 Oil 60 Oil Powder River Basin Wyoming DJ…
  4. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 4
    Economics Today vs. 95 Oil Three Years Ago 100% 80% 75% 60% 60% 60% ATROR* 45% 40% 35% 35% 20% 0% Western Eagle Ford Delaware Basin Leonard 2012 95 Oil Today 60 Oil Today 50 Oil * See reconciliation schedule.…
  5. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 5
    8.8% 7.0% 6.6% 6.3% 4.8% 4.7% 4.1% 4.1% 2.8% 2.5% EOG Co. 1 Co. 2 Co. 3 Peer Co. 4 Co. 5 Co. 6 Co. 7 Co. 8 Avg * Source: FactSet, adjusted earnings. Peer companies: APC, APA, CHK, DVN, HES, MRO, NBL and PXD.…
  6. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 6
    Resource Net Remaining Drilling Potential Play Acres Locations* Years** (MMBoe)*** Eagle Ford 561,000 5,500 13 3,200 Bakken/Three Forks Core 120,000 590 14 620 Bakken/Three Forks Non-Core 110,000 950 400 Delaware Basin Wolfcamp…
  7. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 7
    2010 Completions 540 Events /1,000 ft 2015 Completions 4,030 Events /1,000 ft Enhance Complexity to Contain Events Closer Contact More Surface Area to Wellbore EOG_1115-8
  8. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 8
    2. Summarize 3. Drill and Identify 1. Scale Rock Characteristics High to Low Quality Best Target Eagle Ford EOG_1115-9
  9. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 9
    Gathering, Processing and Other 8.3 Bn Exploration and Development Facilities 0.7 Exploration and Development 1.0 4.7-4.9 Bn 0.3 0.8 6.6 3.7 2014 2015* * Based on full-year estimates as of November 5, 2015,…
  10. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 10
    14 EOG Maintains Stable LOE While Increasing Liquids Mix 12 10 EOG Peers 2014 LOE 8 LOE/Boe 2011 2014 2012 6 2013 2015E 2010 4 2 0 0% 10% 20% 30% 40% 50% 60% 70% 80% Liquids Production Source: Company…
  11. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 11
    0.70 Committed to the Dividend 0.67 Increased Dividend Twice in 2014 0.59 0.60 16 Dividend Increases in 16 Years 0.50 0.40 0.38 0.34 0.31 0.32 0.29 0.30 0.26 0.20 0.18 0.12 0.10 0.08 0.05 0.06 0.03 0.04 0.04…
  12. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 12
    Brushy Canyon Leonard A 550 MMBoe Net to EOG* New Mexico Oil and Combo Play Texas Red Hills Leonard B - 300- 500 Spacing 1st Bone Spring 4,800 500 MMBoe Net to EOG* 2nd Bone Spring Over-Pressured Oil Play - Testing…
  13. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 13
    156,000 Net Acres Prospective with Multiple Target Zones - 4,500 Average Lateral; 700 Spacing NGLs 24% - 2,050 Net Drilling Locations; Plan 35 Net Well Completions in 2015 Oil Gas 50% Estimated Reserve Potential* 1.3 BnBoe, Net to…
  14. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 14
    109,000 Net Acres Prospective in Northern Delaware Basin 1,250 Net Drilling Locations; Complete 35 Net Wells in 2015 NGLs - 850 Spacing 17% Estimated Reserve Potential* 500 MMBoe, Net to EOG Gas 23% Oil Typical Well 60% - 4,500…
  15. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 15
    Completed Well Cost* Average Drilling Days* (MM) (Spud-to-TD) 7.8 14.4 6.9 13.2 6.6 11.4 5.7 9.6 2014 2015 Plan Current Target 2014 2015 YTD 3Q15 Record * Normalized to 4,500 lateral. CWC = Drilling, Completion, Well-Site…
  16. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 16
    Cumulative Crude Oil Production* 91,000 Net Acres Prospective (Mbo) 70 2015 1,600 Net Drilling Locations; 10 Net Completions 2015 60 2014 2013 50 2012 Estimated Reserve Potential* 550 MMBoe, Net to EOG 40 2011 30 Typical Well…
  17. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 17
    Largest Oil Producer and Acreage Holder in the Eagle Ford - Average 15 Rigs Operating in 2015 San Antonio - Complete 300 Net Wells in 2015 Estimated Potential Reserves* 3.2 BnBoe; 7,200 Net Wells - EUR 450 MBoe/Well, NAR at 40-Acre…
  18. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 18
    Eagle Ford West Wells Eagle Ford West Completion Design Average Cumulative Crude Oil Production* 47 High-Density Wells* vs. 41 Low-Density Wells* 2014 Vintage Wells (Mbo) (Mbo) 140 Shallower 80 2015 2014 Decline Cumulative…
  19. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 19
    Completed Well Cost* Average Drilling Days* (MM) (Spud-to-TD) 6.1 14.2 5.7 5.5 5.3 10.9 8.9 7.7 4.2 2014 2015 Plan Current Target 2012 2013 2014 Current Record * Normalized to 5,300 lateral. CWC = Drilling,…
  20. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 20
    Estimated Reserve Potential 1.0 BnBoe* Canada - 1,540 Net Remaining Locations** - 8,400 Lateral State Line Stanley, ND - 7.0 MM CWC** - 650 Spacing Bakken Lite Core Highest Rate-of-Return Drilling Elm Bakken Core Coulee - 120,000…
  21. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 21
    Improving Operating Efficiencies Focus on Bakken Core; 2 Rigs Complete 25 Net Wells in 2015 vs. 59 Net Wells in 2014 2015 Operations - Add Infrastructure to Reduce Future Operating and Capital Costs - Zipper-Style Completion…
  22. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 22
    Completed Well Cost* Average Drilling Days* (MM) (Spud-to-TD) 8.8 20.8 7.8 7.0 14.7 6.5 12.4 7.6 5.6 2014 2015 Plan Current Target 2012 2013 2014 3Q15 Record * Normalized to 8,400 lateral. CWC = Drilling, Completion,…
  23. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 23
    Play Net Type Acres Marcellus / Utica 71,000 Gas Haynesville 143,000 Gas and Combo Eagle Ford 63,000 Gas Barnett 298,000 Gas and Combo Uinta 94,000 Gas and Combo S. Texas Frio/Vicksburg 195,000 Gas and Combo Horn River 127,000 Gas…
  24. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 24
    Trinidad and Tobago Trinidad ATLANTIC OCEAN Stable Production in 2015 TRINIDAD 4(a) Drill 4 Net Wells to Maintain Deliverability U(b) U(a) SECC VENEZUELA United Kingdom United Kingdom East Irish Sea (Conwy)…
  25. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 25
    Maintain Low Net Debt-to-Total Cap Ratio - Credit Ratings Moodys A3 / S&P A- Successful Efforts Accounting Zero Goodwill 2.7 Billion in Available Liquidity - 0.7 Billion Cash at September 30, 2015 - 2.0 Billion Credit Facility Undrawn…
  26. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 26
    4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 Co. 1 Co. 2 Co. 3 Co. 4 Co. 5 Peer Co. 6 Co. 7 Co. 8 Co. 9 Co. 10 Co. 11 Co. 12 Co. 13 Co. 14 EOG Co. 15 Avg Source: UBS Investment Research, as of October 19, 2015.…
  27. Q3 2015 Earnings Presentation – EOG Resources, Inc. – slide 27
    On Track to Achieve 2015 Objectives Improve Well Performance Through Technology and Innovation - Targeting - High-Density Completions Lower Capital and Operating Costs - Identify Efficiency Improvements - Improve Infrastructure -…

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