Second Quarter 2016 Earnings Call Jeff Woodbury Vice President, Investor Relations & Secretary July 29, 2016
Headlines Second quarter earnings of 1.7 billion Cash flow reflects durability of the integrated portfolio amid industry volatility Strong Chemical results highlight sustainable competitive advantages Advancing attractive new…
Business Environment Global economy mixed during the second quarter Brent per Barrel U.S. growth recovered 150 Signs of stabilization in China Slower growth in Europe and Japan 100 Crude oil prices increased 50 Natural gas…
2Q16 Financial Results Earnings 1.7 Earnings Per Share Diluted (dollars) 0.41 Shareholder Distributions 3.1 CAPEX 5.2 Cash Flow from Operations and Asset Sales1 5.5 Cash 4.4 Debt 44.5 Billions of dollars unless specified…
2Q16 Sources and Uses of Cash Cash balances decreased by 400M in the second quarter Beginning Cash 4.8 Earnings 1.7 Depreciation 4.8 5.5 Working Capital / Other (2.0) Proceeds Associated with Asset Sales 1.0 Shareholder…
Total Earnings 2Q16 vs. 2Q15 Earnings decreased 2.5B on lower Upstream and Downstream results 4,190 (1,737) Millions of Dollars (681) (29) (43) 1,700 2Q15 U/S D/S Chem C&F 2Q16 7
Total Earnings 2Q16 vs. 1Q16 Earnings decreased by 110M as stronger Upstream results partly offset lower Downstream and Chemical earnings and higher corporate charges Millions of Dollars 370 (81) (138) 1,810 (261) 1,700…
Upstream Earnings 2Q16 vs. 2Q15 Earnings decreased 1.7B due to sharply lower realizations Millions of Dollars 2,031 (2,240) 450 294 50 2Q15 Realization Vol/Mix Other 2Q16 9
Upstream Volumes 2Q16 vs. 2Q15 Volumes comparable to 2Q15: Liquids +39 kbd, natural gas 366 mcfd koebd 3,979 16 (39) 1 3,957 Price, Spend, Liquids: +41 & Other: +9 Gas: -40 Net Interest: +7 2Q15 Entitlements…
Upstream Earnings 2Q16 vs. 1Q16 Earnings increased 370M on higher liquids realizations, partially offset by lower seasonal gas demand in Europe and other items Millions of Dollars 960 (280) (310) 294 (76) 1Q16…
Downstream Earnings 2Q16 vs. 2Q15 Earnings decreased 681M on weaker refining margins partly offset by improved U.S. reliability and lower maintenance activity Millions of Dollars 1,506 (850) 130 40 825 2Q15 Margin…
Downstream Earnings 2Q16 vs. 1Q16 Earnings decreased 81M due to unfavorable foreign exchange effects and higher maintenance costs partly offset by improved margins Millions of Dollars 80 20 (180) 906 825 1Q16 Margin…
Chemical Earnings 2Q16 vs. 2Q15 Earnings comparable to 2Q15 with stronger margins and higher sales volumes offset by the absence of asset management gains Millions of Dollars 70 (250) 150 1,246 1,217 2Q15 Margin Vol/Mix…
Chemical Earnings 2Q16 vs. 1Q16 Earnings decreased 138M due to weaker margins and increased maintenance activity Millions of Dollars 1,355 (90) 20 (70) 1,217 1Q16 Margin Vol/Mix Other 2Q16 16
Upstream Papua New Guinea Adding quality resource to a successful business Proposed acquisition of InterOil Corporation Agreement worth more than 2.5 billion 45 per share stock transaction Contingent resource payment Access to…
Upstream Projects and Exploration Update Advancing attractive new investment opportunities On track to achieve 10 start-ups 2016/17 Hebron Utilities and Process Module fabrication complete Upper Zakum island production reached 100 KBD…
Upstream U.S. Unconventional Operated Portfolio Operations expertise drives growth, efficiency, inventory Permian/Bakken Production Development Cost Permian/Bakken Inventory2 Gross Operated Production (koebd) /OEB Cumulative…
Downstream & Chemical Growing Higher-Value Product Sales Selective investments in performance products Completed Taicang lubricants plant expansion Launched Exceed XP performance polymers U.K. Santoprene products plant expansion…
YTD 2016 Sources and Uses of Cash Integrated cash flow supports distributions and funds investments B 16 Cash Build 0.7B 14 Debt & Other Financing 5.1B PP&E Adds / Financial flexibility to invest through cycle 12 Investments…
Summary Delivering on commitments; creating long-term shareholder value Billions of dollars unless specified otherwise YTD16 Highlights Earnings 3.5 Resilient, integrated business Cash Flow from Operations 1 10.5 Progressing…
Loading...
