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BAML 2015 Global Energy Conference – Chesapeake Energy Corp

Chesapeake Energy Corp · Nov 10, 2015 · 16 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. BAML 2015 Global Energy Conference – Chesapeake Energy Corp – slide 1
  2. BAML 2015 Global Energy Conference – Chesapeake Energy Corp – slide 2
    3Q?15 FINANCIAL AND OPERATIONAL RESULTS (1) Includes stock-based compensation (2) Adjusted for asset sales (3) Oil and NGLs collectively referred to as ?liquids? Note: Reconciliation of non-GAAP measures to comparable GAAP measures…
  3. BAML 2015 Global Energy Conference – Chesapeake Energy Corp – slide 3
    NEAR-TERM STRATEGY Preserve cash flow generation capability ? Enhance field development ? Leading-edge technology to drive capital efficiency Use operating and capital flexibility as a strength ? Optimize base production…
  4. BAML 2015 Global Energy Conference – Chesapeake Energy Corp – slide 4
    FINANCIAL STABILITY MAXIMIZING LIQUIDITY ? Proactively working to increase liquidity ? Amended credit facility agreement maturing in 2019 ? Noncore divestitures expected to total $200 ? $300mm by 1Q?16 ? Maintaining capital…
  5. BAML 2015 Global Energy Conference – Chesapeake Energy Corp – slide 5
    ? Financial security and flexibility > Borrowing base confirmed at $4.0 billion > Facility maturing in 2019 > Covenants restructured in light of low commodity prices > $2.4 billion of additional secured debt available, should…
  6. BAML 2015 Global Energy Conference – Chesapeake Energy Corp – slide 6
    OPERATIONAL LEADERSHIP ? Enhanced base production of existing assets ? Generated an additional 7 mmboe net YTD ? Focused programs on compression and artificial lift ? Reduced downtime through enhanced winterization activities ~7…
  7. BAML 2015 Global Energy Conference – Chesapeake Energy Corp – slide 7
    SUBSTANTIAL GROWTH OPPORTUNITIES MID-CONTINENT: MERAMEC AND OSWEGO ? Meramec ? First well 27 days spud to RR ? Second well 18 days spud to RR ? Oswego ? Three Oswego wells drilled to date BANK OF AMERICA ? 2015 GLOBAL ENERGY…
  8. BAML 2015 Global Energy Conference – Chesapeake Energy Corp – slide 8
    SUBSTANTIAL VALUE UNDER HBP ACREAGE UPPER MARCELLUS ? Recent successful appraisal of the Upper Marcellus unlocks more than 1,000 economic locations(1) ? Well 1 peak rate 19 mmcf/d ? Well 2 peak rate 17 mmcf/d ? Future test wells in…
  9. BAML 2015 Global Energy Conference – Chesapeake Energy Corp – slide 9
    OPTIMIZING VALUE FROM BASE PRODUCTION UTICA SHALE ? Operating more efficiently ? Compressor/Artificial lift optimization ? Pressure maintenance program ? Choke management ? Better winter ops preparation ? Midstream improvements…
  10. BAML 2015 Global Energy Conference – Chesapeake Energy Corp – slide 10
    DEVELOPMENT OPTIMIZATION EAGLE FORD ? Leveraging Chesapeake?s technical advantage ? First wells with laterals greater than 12,500? on flowback ? 13,000? wells provide capital reduction of more than 20% when compared to two 6,500?…
  11. BAML 2015 Global Energy Conference – Chesapeake Energy Corp – slide 11
    TURNING EFFICIENCY INTO VALUE HAYNESVILLE ? Extended laterals ? Two 7,500? lateral tests flowing an average of 16.1 mmcf/d for more than 170 days ? Production test of first three 10,000? laterals in 4Q?15 ? Technological innovation…
  12. BAML 2015 Global Energy Conference – Chesapeake Energy Corp – slide 12
    Multilateral Wells Multisection Extended Laterals APPLYING NEW TECHNOLOGIES MID-CONTINENT ? Multilateral wells ? First multilateral expected to TIL mid-December ? Potential to spread technology to other plays ? significant cost…
  13. BAML 2015 Global Energy Conference – Chesapeake Energy Corp – slide 13
    PORTFOLIO STRENGTH AND FLEXIBILITY $0.00 $10.00 $20.00 $30.00 $40.00 $50.00 $60.00 PRB SUSSEX MISS LIME EAGLE FORD MID-CON STACK Oil Break-Even (PV-10) $0.00 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 HAYNESVILLE UTICA…
  14. BAML 2015 Global Energy Conference – Chesapeake Energy Corp – slide 14
    CHESAPEAKE?S STRATEGIC SCORECARD Chesapeake is executing on its strategy to simplify and optimize the business for a prosperous future Financial Stability Maximize liquidity Credit facility maturing in 2019; Covenants restructured in…
  15. BAML 2015 Global Energy Conference – Chesapeake Energy Corp – slide 15
    (1) Adjusted net income available to common stockholders and adjusted earnings per share assuming dilution are not measures of financial performance under accounting principles generally accepted in the United States (GAAP), and should…
  16. BAML 2015 Global Energy Conference – Chesapeake Energy Corp – slide 16
    RECONCILIATION OF ADJUSTED EBITDA (1) Operating cash flow represents net cash provided by operating activities before changes in assets and liabilities. Operating cash flow is presented because management believes it is a useful adjunct…

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