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Citibank Energy Investor Presentation – Chesapeake Energy Corp

Chesapeake Energy Corp · Dec 16, 2015 · 16 slides

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Slides

  1. Citibank Energy Investor Presentation – Chesapeake Energy Corp – slide 1
    CITIBANK ENERGY INVESTOR TOUR December 16, 2015
  2. Citibank Energy Investor Presentation – Chesapeake Energy Corp – slide 2
    3Q15 FINANCIAL AND OPERATIONAL RESULTS ADJ. EARNINGS/FDS ADJ. EBITDA PROD. and G&A EXP. (0.05) 560mm 9% YOY 4.88/boe(1) ADJ. PRODUCTION LIQUIDS MIX(3) ADJ. OIL PRODUCTION 3% YOY (2) 28% of total production 4% YOY (2)…
  3. Citibank Energy Investor Presentation – Chesapeake Energy Corp – slide 3
    NEAR-TERM STRATEGY Maximize Improve Use operating Preserve liquidity margins and capital cash flow flexibility as generation a strength capability Amended credit Restructure Optimize base Enhance field facility midstream…
  4. Citibank Energy Investor Presentation – 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 1Q16 Maintaining capital discipline during…
  5. Citibank Energy Investor Presentation – Chesapeake Energy Corp – slide 5
    FINANCIAL STABILITY CREDIT FACILITY AMENDMENT Financial security and flexibility Operational flexibility Borrowing base confirmed at Reduced commitments and 4.0 billion continually improving capital efficiency positions Chesapeake…
  6. Citibank Energy Investor Presentation – Chesapeake Energy Corp – slide 6
    OPERATIONAL LEADERSHIP Enhanced base production of Development teams extending existing assets technological limits with operations Generated an additional 7 mmboe program net YTD Drilled the longest laterals(1) in each Focused…
  7. Citibank Energy Investor Presentation – Chesapeake Energy Corp – slide 7
    SUBSTANTIAL GROWTH OPPORTUNITIES MID-CONTINENT: MERAMEC AND OSWEGO Meramec Mississippian/Meramec CHK Oswego All Rights Industry Shallow Rights CHK Rouce 4-17-10 1H First well 27 days spud to RR Initial CHK 9,350 Meramec well…
  8. Citibank Energy Investor Presentation – 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 Test Well 1 Future test…
  9. Citibank Energy Investor Presentation – Chesapeake Energy Corp – slide 9
    OPTIMIZING VALUE FROM BASE PRODUCTION UTICA SHALE Operating more efficiently 2015 Gross Operated Base Production 180 Compressor/Artificial lift 160 optimization 140 Pressure maintenance Avg Daily Rate (mboe/d) 120…
  10. Citibank Energy Investor Presentation – Chesapeake Energy Corp – slide 10
    DEVELOPMENT OPTIMIZATION EAGLE FORD Leveraging Chesapeakes technical advantage Rogers E-1H; 12,611 LL(1) First wells with laterals greater than 12,500 on flowback 13,000 wells provide capital reduction of more than 20% when…
  11. Citibank Energy Investor Presentation – 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 4Q15 Technological innovation and…
  12. Citibank Energy Investor Presentation – Chesapeake Energy Corp – slide 12
    APPLYING NEW TECHNOLOGIES MID-CONTINENT Extend and Multilateral Wells Multilateral Multilateral wells Mississippi Lime County Wilber 26-27-11 1H TD 10/8/2015 CHK Section Summary First multilateral expected to TIL…
  13. Citibank Energy Investor Presentation – Chesapeake Energy Corp – slide 13
    PORTFOLIO STRENGTH AND FLEXIBILITY Natural Gas Break-Even (PV-10) (1) Oil Break-Even (PV-10) (2) 3.50 60.00 3.00 50.00 2.50 40.00 2.00 30.00 1.50 20.00 1.00 10.00 0.50 0.00 0.00 HAYNESVILLE UTICA DRY UTICA WET…
  14. Citibank Energy Investor Presentation – Chesapeake Energy Corp – slide 14
    RECONCILIATION OF ADJUSTED EARNINGS PER SHARE ( in mm) Three Months Ended: 9/30/2015 9/30/2014 Net income available to common stockholders (4,695) 169 Adjustments, net of tax: Unrealized (gains) losses on commodity derivatives 58…
  15. Citibank Energy Investor Presentation – Chesapeake Energy Corp – slide 15
    RECONCILIATION OF ADJUSTED EBITDA ( in mm) Three Months Ended: 9/30/2015 9/30/2014 Cash provided by operating activities 318 1,184 Changes in assets and liabilities 158 109 (1) Operating cash flow 476 1,293 Net income (4,639)…
  16. Citibank Energy Investor Presentation – Chesapeake Energy Corp – slide 16
    CORPORATE INFORMATION HEADQUARTERS PUBLICLY TRADED SECURITIES CUSIP TICKER 6100 N. Western Avenue 3.25% Senior Notes due 2016 165167CJ4 CHK16 Oklahoma City, OK 73118 6.25% Senior Notes due 2017 027393390 N/A WEBSITE: www.chk.com 6.50%…

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