High-Quality Global Portfolio Production Reserves Resources 1,578 MBOED1 8.2 BBOE2 44 BBOE3 10% 22% 19% 22% 24% 31% 17% 16% 19% 32% 46% 12% 10% 6% 14% APME Canada Europe & North Africa Alaska Lower 48 3 1 1Q16…
1Q16 Response to Continued Low Prices Brent Price /BBL Macro Environment 120 Weak commodity price environment continued into 2016 Oversupply in market continues 100 Ongoing concern about the global economy 80 Historical Credit…
Creating Value Through the Cycles Portfolio Attributes Allocation Principles Diverse, low-decline base production Strong Balance Growing Dividend Sheet Reduce debt to Target annual real growth less than 25B Large, low cost of…
Maintaining Discipline Across Time Horizons Short Term Medium Term Longer Term Weaker Prices Price Recovery Cycles and Volatility Protect against protracted downturn Priority to strengthen balance sheet Achieve target debt level…
Exercising Flexibility, Maintaining Flat Production Capital Operating Costs1 Production2 11.4B 2.7B FLAT PRODUCTION REDUCTION REDUCTION 12 1,600 2016 vs. 2015 20 10 16 1,200 8 12 6 800 8 17.1B 9.7B 4 8.0B 7.0B 10.1B 400…
Diversified Portfolio Provides a Unique Advantage Capital Canada Europe 10.1B 293 MBOED2 216 MBOED2 New projects Europe Surmont 2 on line, and drilling adding to low Alaska offset decline 5.7B decline base APME Canada Europe…
Lower 48 and Canada Foster Creek Lower 48 Canada Transitioned from 13 operated rigs at year-end 2015 to 3 Increasing bitumen production further shifts product mix operated rigs in April to liquids Current plan yields 10%…
Alaska and Europe & North Africa Alaska Production from major projects offsetting decline Ramping up production at CD5 and Drill Site 2S Project activity underway at GMT 1 Europe & North Africa Continuing development drilling…
Asia Pacific & Middle East and Other International Asia Pacific & Middle East Expect first cargo from Train 2 in 4Q16 Ramping up at Gumusut following gas and water injection Progressing Malikai toward startup in 2017 APLNG…
2016 Operations Outlook Expect 2016 full-year production to be in line with 20151 SAFETY REMAINS TOP 2Q16 production guidance: 1,500 to 1,540 MBOED PRIORITY Expect to run 3 rigs in the Lower 48 through 2016 5.7B 2016 CAPITAL…
Appendix
Annualized Net Income Sensitivities Crude Brent/ANS: 100-120MM for 1/BBL change WTI: 30-40MM 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…
Investor Information Stock Ticker Investor Relations Contacts: NYSE: COP Telephone: +1 281.293.5000 Website: www.conocophillips.com/investor Ellen DeSanctis: ellen.r.desanctisconocophillips.com Sidney J. Bassett:…
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