2016 Capital Program Down 50% 75% below 2014 7,000 140 Focus on balance sheet 75%75% Reduction Reduction protection with optionality to 6,000 5.7B 120 further adjust program Program designed to: 5,000 100 Maximize allocation to…
70% Capital Allocation to Resource Plays Short-cycle investments continue to provide flexibility 2016 CAPEX 1.4B by asset / activity Eagle Ford 42% Other North Exploration America 11% 2% Oklahoma Corporate Resource 3%…
Reduced Activity Across Resource Basins Maintain Eagle Ford execution efficiency; retain STACK term leases 5% Oklahoma: 204MM Bakken: 193MM 22% 26% 39% 69% 39% Protect High Value Term Leases Focus on Base Business 2 rig…
Moderating Spend Across Remaining Portfolio Three long-cycle projects expected to start up in 2016 Oil Sands: 41MM Kurdistan: 72MM Drive Costs Lower Progress Developments Step change improvement in sustaining capital Atrush: First oil…
2016 Production Reflects Capital Reduction 1Q volumes impacted by EG and UK downtime MRO Available for Sale Volumes Guidance Guidance 500 500 OSM: 40 - 50 OSM: 45 - 50 E&P: 335 - 355 E&P: 320 - 340 417* 422* 381* 400 45 400 49…
Committed to Balance Sheet Protection Flexible capital program weighted to short-cycle investments Capital program 50% below 2015: Maximize allocation to short-cycle resource plays Complete long-cycle projects Minimize conventional…
APPENDIX
2016 North America Activity U.S. Resource Plays Bakken Gross Gross Average Total Operated Operated Net Wells Net Wells 2016 Rig CAPEX Wells Wells to Drilled to Sales Count Drilled Sales 193MM 0.5 8 10 13 15 10 12 19 22…
2016 Capital Program Percent of MM Total North America Eagle Ford 601 42% Bakken 193 13% Oklahoma Resource Basins 204 14% Other 153 11% Total North America 1,151 80% International 169 12% Exploration* 31 2% Total E&P 1,351…
Loading...
