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Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc.

EOG Resources, Inc. · Nov 11, 2015 · 24 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. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 1
  2. Bank of America Merrill Lynch Global Energy Conference – 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. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 3
    High-Quality Assets With Scale - Large Eagle Ford, Bakken and Delaware Basin Footprints - Scale Drives Cost Savings and Leverages Technology Gains - Most Productive, Lowest-Cost, Horizontal Oil Wells in the U.S. Innovation and Technology…
  4. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 4
    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…
  5. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 5
    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…
  6. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 6
    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 BoAML_1115-5
  7. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 7
    2. Summarize 3. Drill and Identify 1. Scale Rock Characteristics High to Low Quality Best Target Eagle Ford BoAML_1115-6
  8. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 8
    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…
  9. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 9
    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…
  10. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 10
    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…
  11. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 11
    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…
  12. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 12
    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…
  13. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 13
    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…
  14. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 14
    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…
  15. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 15
    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,…
  16. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 16
    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…
  17. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 17
    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…
  18. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 18
    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,…
  19. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 19
    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.…
  20. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 20
    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)…
  21. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 21
    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…
  22. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 22
    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.…
  23. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 23
    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 -…
  24. Bank of America Merrill Lynch Global Energy Conference – EOG Resources, Inc. – slide 24
    Uniquely Positioned for Strong 2016 Performance Balanced Capex and Discretionary Cash Flow Increased Capital Flexibility - Fewer Rigs on Long-Term Contracts - Limited Retention Drilling Obligations - Few International Commitments…

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