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November 2015 Investor Presentation – Chevron Corp

Chevron Corp · Nov 30, 2015 · 39 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. November 2015 Investor Presentation – Chevron Corp – slide 1
    Chevron 2015 Investor Presentation November 2015 2015 Chevron Corporation
  2. November 2015 Investor Presentation – Chevron Corp – slide 2
    Key Messages Long-term fundamentals attractive Long-term strategies and financial priorities remain sound Actions aligned with low price environment Capital spending reduced, project completion focus Cost reduction efforts…
  3. November 2015 Investor Presentation – Chevron Corp – slide 3
    Leading Operational Excellence Performance Days Away From Work Rate Indexed Tier 1 Loss of Containment Basis: 2010 = 100 0.20 100 75 0.10 50 25 1 1 1 1 1 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 CVX Ranking…
  4. November 2015 Investor Presentation – Chevron Corp – slide 4
    Significant New Supply Needed Long-Term Global Liquids Supply & Demand MMBD 120 10 to 15% natural Demand decline in existing base 100 production 290 Billion Barrels 80 Required between 2013 2035 60 60 MMBD new capacity…
  5. November 2015 Investor Presentation – Chevron Corp – slide 5
    Oil Markets Moving Towards Balance World Consumption & Production of Liquid Fuels Million Barrels Million Barrels per Day per Day 100 6.0 Global Production (left axis) 4.0 95 Global Consumption (left axis) 2.0 90 -…
  6. November 2015 Investor Presentation – Chevron Corp – slide 6
    U.S. Supply Responding to Lower Oil Prices 2015 U.S. Production* 30% MMBD reduction to U.S. 10.0 upstream investment 64% 9.5 drop in oil directed rigs since Oct 2014 peak 9.0 800 MBD decline to U.S. crude oil 8.5 Oct 2014…
  7. November 2015 Investor Presentation – Chevron Corp – slide 7
    Consistent Long-Term Strategies Upstream Grow profitably in core areas and build new legacy positions Downstream and Chemicals Deliver competitive returns and grow earnings across the value chain Gas and Midstream Enable the…
  8. November 2015 Investor Presentation – Chevron Corp – slide 8
    Financial Priorities Unchanged Indexed Dividend Growth Maintain and Basis: 2004 = 100 28 grow dividend Consecutive Annual Increases 300 (through 2015) Fund capital program 11% Compound Annual for future earnings 200 Growth…
  9. November 2015 Investor Presentation – Chevron Corp – slide 9
    Financial Performance 2014 3Q15 YTD Earnings 19.2 Billion 5.2 Billion C&E Spending 36.8 Billion 22.1 Billion Debt Ratio 15.2% 18.8% Dividends Paid 7.9 Billion 6.0 Billion 2015 Chevron Corporation 10
  10. November 2015 Investor Presentation – Chevron Corp – slide 10
    Significant Volume Growth Ahead Net Production MMBOED Base Shale & Decline/ Actual growth dependent upon: Tight Other Offshore LNG Asset sales PZ restart 0-3% PSC effects Project timing 2.57 Growth momentum continues 2014…
  11. November 2015 Investor Presentation – Chevron Corp – slide 11
    2015 Capital & Exploratory Program: 35 Billion By Region By Category Downstream & Other 2% 35% Chemicals 12% 8% North America Europe, Eurasia Exploration & Middle East 9% Upstream Base 24% Other Upstream* 13% Shale/Tight…
  12. November 2015 Investor Presentation – Chevron Corp – slide 12
    Significant Cut in C&E Total C&E Billions C&E reduction drivers 42 Completing projects 40 in-flight 35 25-28 Project pacing 20-24 Cost deflation 25 depending on market conditions Sept YTD 2013 2014 2015 2016 2017-18…
  13. November 2015 Investor Presentation – Chevron Corp – slide 13
    Reducing Cost Structure Actions Underway Spend Reduction Target Organizational 6-7,000 in employee reductions 4 Billion Potential Contractor reductions of similar additional amount Organizational 2 B opportunities Actions…
  14. November 2015 Investor Presentation – Chevron Corp – slide 14
    Asset Sales Program Update Asset Sales Billions Excellent progress towards original target 5 - 10 additional Additional 5-10 billion 15 11 Actuals through Key criteria: Sept 2015 Value-based 2014 - 17 2014 - 17 Guidance…
  15. November 2015 Investor Presentation – Chevron Corp – slide 15
    Strategy Focused on Competitive Returns Deliver competitive returns and grow earnings across value chain Improving Operational Excellence Growing higher return segments Petrochemicals Lubricants and Additives Focused Refining…
  16. November 2015 Investor Presentation – Chevron Corp – slide 16
    Demand Growth Points to Attractive Segments 2013 2025 Outlook 2013 2025 Outlook Petrochemicals Asia is the primary Fuel (by Region) 59% growth growth engine 17% growth Americas Americas Rest of World Rest of World Lubricants and…
  17. November 2015 Investor Presentation – Chevron Corp – slide 17
    A Strong Worldwide Portfolio Chemicals Portfolio Fuels Refining Feed & Market Advantages 2014 Capital Employed Pacific Rim Strength 36% 35% 29% 2017 Capital Employed 24% 45% 31%% 31 Olefins & Aromatics Production…
  18. November 2015 Investor Presentation – Chevron Corp – slide 18
    Chevron Phillips USGC Petrochemicals Project Overview & Progress 2015 Key Milestones 1,500 kMTA ethylene Baytown, TX 65% complete (5,000 people onsite) 1,000 kMTA polyethylene Old Ocean, TX Polyethylene reactors set in place…
  19. November 2015 Investor Presentation – Chevron Corp – slide 19
    Upstream Focus Areas Delivering volume growth from projects nearing completion New volumes accretive to cash margin Planning further reductions in the capital program Driving cost reduction and organizational efficiency…
  20. November 2015 Investor Presentation – Chevron Corp – slide 20
    Lowering Costs Projects & Operations Upstream Gross Operated Spend Leveraging purchasing power Other 11% Professional Negotiating supplier reductions Services 7% EPC 28% Rebidding key contracts Materials and Maintenance…
  21. November 2015 Investor Presentation – Chevron Corp – slide 21
    Driving Down Unit Costs in Deepwater Technology Advances i-field Ocean bottom node seismic Optimized completions Efficient Drilling Seafloor pumping Seafloor Pumps i-field automation Ocean Bottom Nodes (Seismic Imaging)…
  22. November 2015 Investor Presentation – Chevron Corp – slide 22
    Driving Cost Reductions and Efficiency Gulf of Mexico Thailand Tengiz Rig-less well stimulation Drill 500 wells per year Targeting high-productivity method developed Continue to improve well fracture zones 85% cost reduction per job…
  23. November 2015 Investor Presentation – Chevron Corp – slide 23
    Project Execution Focus Areas Increasing engineering maturity Strengthening design assurance Optimizing contracting strategy Verifying execution readiness Improving quality management 2015 Chevron Corporation 28
  24. November 2015 Investor Presentation – Chevron Corp – slide 24
    Divesting Assets Farm Downs 20092014 Farm Downs / Divestments Manage risk Exploration Pre-Sanction Production Reduce capital Duvernay Wheatstone Chad Leverage investment Nigeria OMLs Gorgon Netherlands Browse Nigeria OMLs Norway…
  25. November 2015 Investor Presentation – Chevron Corp – slide 25
    High Performing Base Enables Growth Reinvestment mitigates base decline Production Profile Base and Shale & Tight Infill drilling and workovers Average Annual Decline Base major capital projects 0 1% Shale & tight developments <…
  26. November 2015 Investor Presentation – Chevron Corp – slide 26
    Key Project Startups and Shale & Tight Assets Horn River and Liard Alder Clair Ridge Duvernay Hebron Marcellus Permian and Utica Chuandongbei Agbami Phase 3 Jack / St. Malo Sonam Tubular Bells Bangka Gorgon Wheatstone…
  27. November 2015 Investor Presentation – Chevron Corp – slide 27
    Permian Competitive costs and efficiency 2015 Horizontal Drilling Programs Agreed cost reductions 20-50% for major well spend categories Footage per day increased over 15% Frac stages per day increased by 20% Good rocks Strong…
  28. November 2015 Investor Presentation – Chevron Corp – slide 28
    Midland and Delaware Basins Midland Basin Delaware Basin 500,000 net acres 1 million net acres 8,200 liquids-rich prospects 6,400 liquids-rich prospects 49 MBOED* production 67 MBOED* production 11 active rigs 8 active rigs…
  29. November 2015 Investor Presentation – Chevron Corp – slide 29
    Gulf of Mexico Gulf of Lower Tertiary Trend Mexico World-Class Petroleum Basin* Most challenging wells in the world Miocene Deepest water developments in the world Trend Blind Jack & Buckskin & Big Deepwater St. Malo…
  30. November 2015 Investor Presentation – Chevron Corp – slide 30
    Leading Player in the Gulf of Mexico Core Shelf Assets DW Producing Fields Main Pass DW MCPs Wilcox Discoveries Bay Marchand Petronius Chevron Leases Shelf Eugene Island 101 MBOED South Timbalier Tubular Bells Blind Faith…
  31. November 2015 Investor Presentation – Chevron Corp – slide 31
    Strong Performance From Jack / St. Malo First production December 2014 Delivered on time and on budget 6 wells producing 80 MBOED Development drilling ongoing with top quartile performance Drilling efficiency increased 30%…
  32. November 2015 Investor Presentation – Chevron Corp – slide 32
    Hub-Scale GOM Discoveries Tigris Hub Concept Benefits Anchor Covers 24 GOM leases Multiple fields per facility Significant discovery Guadalupe oil discovery Reduces overall risk Pay across multiple Tiber and Gila acquisitions Lower…
  33. November 2015 Investor Presentation – Chevron Corp – slide 33
    Gorgon Progress 2015 Key Milestones Jansz-lo wells opened to pipeline Fuel gas import for plant commissioning Preparing to bring gas into plant Start-up gas turbine generators Nearly all critical subsystems required for All Train 2…
  34. November 2015 Investor Presentation – Chevron Corp – slide 34
    Wheatstone Progress 2015 Key Milestones All subsea infrastructure & flowlines installed Complete dredging program Platform hook-up and commissioning ongoing Install platform topsides (hook-up ongoing) All 9 wells drilled to top of…
  35. November 2015 Investor Presentation – Chevron Corp – slide 35
    Other Significant Start-ups 2015-2016 Angola LNG Moho Nord Mafumeira Sul Progressing repairs Construction on all Facilities scope 85% Implementing design packages in progress complete improvements Drilling commenced in Installed 3…
  36. November 2015 Investor Presentation – Chevron Corp – slide 36
    TCO Future Growth Optimization Current Status WPMP Sustains Plateau Reducing vendor and contractor costs FGP Grows Peak Production Capacity Progressing detailed engineering Constructing critical infrastructure Finalizing MOU…
  37. November 2015 Investor Presentation – Chevron Corp – slide 37
    Consistent Exploration Success 1.4 BBOE 66% 2.07 Value Creation Resource* Adds Success Rate Unit Finding Cost from Exploration in 2014 in 2014 in 2014 20042013 12 B 6 B TOT 3 B 2014 Discoveries RDS XOM (1) B 10.2 BBOE…
  38. November 2015 Investor Presentation – Chevron Corp – slide 38
    2015 Exploration Program Highlights SA/PZ Liard Basin Clair Duvernay Flemish Pass Midland & Marcellus & Utica Delaware Basins Morocco China Offshore Mauritania GOM DW Thailand Brazil Myanmar Nigeria Angola Western…
  39. November 2015 Investor Presentation – Chevron Corp – slide 39
    Growth Volumes Accretive to Leading Cash Margin Cash Margin Growth* Net Production MMBOED Percentage of 3.5 high margin barrels increasing 3.0 2.5 2.0 Volume growth increases 1.5 operating cash flow 1.0 0.5 0.0 25 /…

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