Exercising Further Flexibility, Maintaining Flat Production Capital Production Operating Costs 3.7B REDUCTION 2015 LEVELS 1B REDUCTION 12 1,600 8 1,500 1,400 8 1,300 7 8.0B 7.7B 10.1B 1,200 7.7B 7.0B 6.4B 1,100 4 1,000…
Jeff Sheets EVP, Finance and CFO
2015 Summary Strategic Operational Financial Reduced capital 5% full-year production 1.7B adjusted loss; 2 expenditures 41% vs. 2014 growth 1.40 adjusted EPS loss Achieved 2.2B of non- Achieved first production 7.6B cash from…
Balance Sheet Strength Maintained Industry-wide credit downgrades expected Rating Agency Debt capacity within a given rating level shrinking across the industry Review Dividend reduction mitigates balance sheet usage 8 billion…
Matt Fox EVP, Exploration & Production
2016 Operational Priorities Expect 2016 full-year production to be flat to 20151 SAFETY 1Q16 production guidance: 1,540 to 1,580 MBOED REMAINS TOP PRIORITY Alaska: Progress GMT 1 project and exploration around existing…
Q&A
Annualized Net Income Sensitivities Crude Brent/ANS: 100-120MM for 1/BBL change WTI: 35-45MM for 1/BBL change WCS: 35-45MM for 1/BBL change North American NGL Representative blend: 5-10MM for 1/BBL change Natural Gas Henry…
2016 Outlook Guidance 2016 DD&A of 8.5B Reflects reduction in consolidated volumes Operating Costs of 7.0B Production and SG&A expense of 6.4B Exploration G&A and G&G of 0.6B Exploration Dry Hole and Impairment Expense of…
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