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Credit Suisse Energy Summit – Newfield Exploration Co.

Newfield Exploration Co. · Feb 13, 2017 · 12 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. Credit Suisse Energy Summit – Newfield Exploration Co. – slide 1
    Credit Suisse 22nd Annual Energy Summit Larry S. Massaro Executive Vice President & CFO
  2. Credit Suisse Energy Summit – Newfield Exploration Co. – slide 2
    We delivered on our 2016 priorities Priorities Actions 1 Maintain strong balance sheet Reduced capex, high graded investments, cut costs & expenses 2 HBP STACK leasehold Active drilling substantially holds legacy acreage by…
  3. Credit Suisse Energy Summit – Newfield Exploration Co. – slide 3
    2017Preparing to Win Maintain strong balance sheet Use cash on hand to accelerate adding SCOOP/STACK rigs late 2016/early 2017 Maintain strong coverage ratios Continue to high-grade capital investments Anadarko Basin to receive…
  4. Credit Suisse Energy Summit – Newfield Exploration Co. – slide 4
    Newfield: Strong Record of Growth in Anadarko Basin 100 80 NGL Production 60 MBOEPD Oil 40 Production 20 Gas Production 0 2011 2012 2013 2014 2015 2016 4
  5. Credit Suisse Energy Summit – Newfield Exploration Co. – slide 5
    SCOOP/STACK Offer Optionality Across Position W E E W Crude API 60 40 SW NE NE SW Crude API 60 40 Newfield dominant position overlaps extensive liquids window 5
  6. Credit Suisse Energy Summit – Newfield Exploration Co. – slide 6
    Initial results from recent upsized completions 120 Recent Upsized Completions1 10 80 Well Count MBOE 5 40 0 0 0 20 40 60 80 100 Days Online STACK Current completion design: 2,100 lbs/ft & 2,100 gals/ft Recent…
  7. Credit Suisse Energy Summit – Newfield Exploration Co. – slide 7
    Initial results from recent spacing pilots 150 150 Chlouber Pilot vs Type Curve1 Dorothy Pilot vs Type Curve1 100 100 MBOE MBOE 50 50 0 0 0 20 40 60 80 100 0 20 40 60 80 100 Days Online Days Online Initial results…
  8. Credit Suisse Energy Summit – Newfield Exploration Co. – slide 8
    Preparing for Full Field Development 700 of section could allow for up to 30 development wells per DSU Testing tighter vertical and lateral well spacing 60 250 feet vertically, 660 1,050 feet laterally Up to 4 layers in Meramec,…
  9. Credit Suisse Energy Summit – Newfield Exploration Co. – slide 9
    Improved capital structure Highlights Improved liquidity (Bn)1 Increased liquidity 1.0 Bn 2.5 Reduced total debt by 600 mm Maintained 2.0x net debt / EBITDA 1.5 Staggered debt maturities 2.6 Bn of hedging gains since 2009 2012…
  10. Credit Suisse Energy Summit – Newfield Exploration Co. – slide 10
    So, Why own Newfield today Track Record: Did itcan do it again Weathered commodity price cycles History of finding and developing valuable plays Proven operator Asset Quality The Anadarko Basin provides premium returns TODAY…
  11. Credit Suisse Energy Summit – Newfield Exploration Co. – slide 11
    Appendix
  12. Credit Suisse Energy Summit – Newfield Exploration Co. – slide 12
    Non-GAAP reconciliation of Adjusted EBITDA Twelve Months Ended December 31, September 30, ( in millions) 2014 2015 2016 Net Income 900 (3,362) (1,906) Adjustments to derive EBITDA: Interest expense, net of capitalized interest 147 131…

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