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Q4 2015 Results Presentation – EOG Resources, Inc.

EOG Resources, Inc. · Feb 26, 2016 · 34 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. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 1
    NYSE Stock Symbol: EOG Investor Relations Contacts Common Dividend: 0.67 Cedric W. Burgher, SVP Investor and Public Relations Basic Shares Outstanding: 550 Million (713) 571-4658, cburghereogresources.com David J. Streit, Director IR…
  2. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 2
    Focus on Returns Shifting to Premium Locations - Generate at Least 30% Direct ATROR* at 40 Oil - Sustainable Improvement 10 Years of Inventory and Growing Grow Premium Inventory At Rapid Pace - Improve Existing Plays With…
  3. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 3
    A Record Year For Improvements Identified 2 BnBoe* and 3,200 Premium Net Well Locations Increased Capital Efficiency - Reduced Capital Spending 44% YOY and Maintained Flat U.S. Oil Production Identified 6x New Net Well Locations as…
  4. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 4
    High-Quality Assets With Scale - Large Eagle Ford, Bakken and Delaware Basin Footprints - Scale Drives Cost Savings and Leverages Technology Gains Innovation and Technology Focus - In-House Completion Design - Merging Data Science and…
  5. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 5
    3,200 Premium Net Well Locations With 2 BnBoe* 10 Years of High Rate-of-Return Drilling 100%+ 60% 30% 10% 30 40 50 60 * Estimated potential reserves net to EOG, not proved reserves. See reconciliation schedules.…
  6. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 6
    Premium Inventory 30% 60% Eagle Ford Delaware Basin Wolfcamp - Oil and Combo Delaware Basin 2nd Bone Spring Sand Delaware Basin Leonard Bakken/Three Forks Core 15% 40% 40 Oil 50 Oil Powder River Basin Wyoming DJ Basin 5%…
  7. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 7
    Resource Net Remaining Locations* Potential Play Acres Total Premium (MMBoe)** Eagle Ford 549,000 5,200 1,535 3,200 Bakken/Three Forks Core 120,000 590 330 620 Bakken/Three Forks Non-Core 110,000 950 400 Delaware Basin Wolfcamp…
  8. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 8
    120-Day Cumulative Oil Production* Shift to Premium Locations (Bbl per Foot Treated Lateral) Higher Well Productivity 20.9 Lower Costs 13.6 10.7 2014 2015 2016 Est * Domestic completions, gross oil production.…
  9. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 9
    10 288.9 300.00 284.4 270.0 9 8.3 Bn 250.00 8 0.7 Oil Production (MBopd) 7 1.4 Gathering, Processing and Other 200.00 Exploration and Development Facilities 6 Exploration and Development 5 - 44% 4.7 Bn 150.00 0.3 4 0.8…
  10. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 10
    1st 3 Months Number Bopd/Boed 113 of Wells 900 40 Wolfcamp Delaware Wolfcamp Midland 800 Natural Gas 35 Well Count 700 30 600 25 500 20 400 15 300 10 200 100 5 0 0 EOG A B C D E F G H I J K Average three-month…
  11. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 11
    Eagle Ford West Wells Eagle Ford East Wells Average Cumulative Crude Oil Production* Average Cumulative Oil Production* (Mbo) (Mbo) 140 140 2015 120 120 2014 2015 2013 100 2014 100 2013 2012 80 80 2012 60 60 40 40 20 20…
  12. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 12
    2010 Completions 540 Events /1,000 ft 2015 Completions 4,030 Events /1,000 ft Enhance Complexity to Contain Events Closer Contact More Surface Area to Wellbore Note: Microseismic dots represent well stimulation events…
  13. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 13
    3. Drill 2. Overall 1. Measure Rock Characteristics and Grade High to Low Quality Grade Lower Eagle Ford EOG_0216-12
  14. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 14
    Delaware Basin South Texas Eagle Ford Bakken Wolfcamp Oil Play 11.5 8.8 7.2 6.5 7.5 6.1 6.8 5.7 5.3 2014 2015 Target 2014 2015 Target 2014 2015 Target * Normalized to 4,500 lateral. * Normalized to 5,300 lateral. *…
  15. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 15
    17.02 15.39 14.49 13.72 12.84* 2014 1Q15 2Q15 3Q15 4Q15 G&P G&A Taxes Other Than Income Transportation LOE * Excludes one-time expense of 18.7 million related to early leasehold termination. Includes stock compensation…
  16. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 16
    EOG Competitive Globally Brent (/BBL) 100 90 80 New Marginal Cost of Oil Oil Sands 70 ( 65 - 75) US L48 Conv Russia North Sea 60 GOM Angola Far East U.S. Tight Oil Brazil 50 Mexico Nigeria 40 Venezuela 30 Russia Middle…
  17. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 17
    Brushy Canyon 4 Rigs 2016 Leonard A 550 MMBoe Net to EOG* Oil and Combo Play New Mexico Leonard B - 300- 500 Spacing Texas Red Hills 1st Bone Spring 4,800 500 MMBoe Net to EOG* 2nd Bone Spring Over-Pressured Oil Play…
  18. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 18
    168,000 Net Acres Prospective with Multiple Target Zones - 4,500 Average Lateral; 700 Spacing - 2,130 Net Drilling Locations NGLs 24% - Complete 60 Net Wells in 2016 vs. 28 in 2015 Oil 50% Gas Estimated Resource Potential 1.3…
  19. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 19
    Second Bone Spring Sand 111,000 Net Acres Prospective in Northern Delaware Basin - 1,250 Net Drilling Locations; 850 Spacing - Complete 10 Net Wells in 2016 vs. 27 in 2015 Estimated Resource Potential 500 MMBoe,* Net to EOG NGLs…
  20. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 20
    Largest Oil Producer and Acreage Holder in the Eagle Ford - Average 5 Rigs Operating in 2016 San Antonio FAYETTE - Complete 150 Net Wells in 2016 vs. 329 in 2015 GUADALUPE BEXAR GONZALES LAVACA KINNEY UVALDE MEDINA…
  21. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 21
    Canada Focus on Premium Locations in Bakken Core Complete 10 Net Wells in 2016 vs. 25 in 2015 State Line Stanley, ND Estimated Resource Potential 1.0 BnBoe* Bakken Lite - 1,540 Net Remaining Locations - 8,400 Lateral Elm Bakken…
  22. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 22
    Reset Company to Be Successful At Low Prices Improve Well Productivity with Technology and Innovation - Precision Lateral Targeting - High-Density Completions Lower Costs - Identify Further Efficiency Improvements - Enhance…
  23. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 23
    EOG_0216-22
  24. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 24
    (MBod) 2014 2015 2016 2017 +1,252 +721 -732 -233 9,694 9,653 9,479 9,456 9,433 9,449 9,428 9,407 9,318 9,345 9,370 9,315 9,201 9,197 9,125 9,129 9,041 8,959 8,987 8,926 8,835 8,815 8,754 8,687 8,603 8,577 8,678…
  25. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 25
    What Are The Drivers Production Increased 2 MMBod January 2013 to May 2015 - 11% Longer Laterals - 14% Enhanced Completion Technology - 75% Number of Wells Put to Sales Each Month Conclusion - Number of New Wells Put to Sales Most…
  26. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 26
    All Operators Are Not Equal Asset Quality - Highly Variable - Small Sweet Spots Sustainable Productivity Improvements - Driven by Operators with the Best Technology Cost Reductions - Cyclical for Many Operators Not Sustainable Very…
  27. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 27
    EOG 2X Industry Average Bopd 800 758 700 600 500 400 368 300 200 100 0 EOG Industry * Eagle Ford, Bakken, Permian, DJ and PRB. Source: IHS Performance Evaluator, supplied by IHS Global Inc.; Copyright (2016).…
  28. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 28
    Well Count Percent Oil 300 100% 250 Well Count 80% Percent Oil 200 60% 150 40% 100 20% 50 0 0% EOG A B C D E F G H I J K L M N O P Q R S * Source: Sanford C. Bernstein & Co. Thousand Club includes wells with…
  29. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 29
    359 EOG is Industry Leader 250 214 213 212 188 158 155 153 137 EOG A B C D E F G H I Source: IHS Performance Evaluator, supplied by IHS Global Inc.; Copyright (2016). Data as of Sept. 2015. Peer companies: APC, CHK, CLR,…
  30. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 30
    9.0% 7.6% 7.3% 6.5% 4.9% 4.3% 4.2% 4.2% 2.8% 2.5% EOG A B C Peer D E F G H Avg * Source: FactSet, adjusted earnings. Peer companies: APC, APA, CHK, DVN, HES, MRO, NBL and PXD. EOG_0216-29
  31. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 31
    0.70 Committed to the Dividend 0.67 0.67 16 Dividend Increases in 17 Years 0.60 0.59 0.50 0.40 0.38 0.34 0.31 0.32 0.29 0.30 0.26 0.20 0.18 0.12 0.10 0.08 0.05 0.06 0.03 0.04 0.04 0.04 0.00 1999 2000 2001…
  32. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 32
    Trinidad and Tobago Trinidad ATLANTIC OCEAN Complete One Net Well Late 2016 TRINIDAD 4(a) U(a) U(b) Limited Capital Spending in 2016 SECC VENEZUELA Active Exploration Program United Kingdom United Kingdom…
  33. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 33
    Maintain Strong Balance Sheet - Investment Grade Credit Ratings Successful Efforts Accounting Zero Goodwill 2.7 Billion in Available Liquidity - 0.7 Billion Cash at December 31, 2015 - 2.0 Billion Credit Facility Undrawn at December…
  34. Q4 2015 Results Presentation – EOG Resources, Inc. – slide 34
    9 8 7 6 5 4 3 2 1 0 A B C D E Peer F G H I J K L M EOG N O Avg Source: UBS Investment Research. Net debt as of 9/30/15 and 2016E EBITDAX as of January 22, 2016. Based on 40/Bbl WTI and 2.45/MMBtu. Peer…

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