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2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp

Chesapeake Energy Corp · Feb 23, 2017 · 19 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. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 1
    2016 FULL-YEAR AND FOURTH QUARTER EARNINGS February 23, 2017
  2. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 2
    4Q16 FINANCIAL AND OPERATIONAL RESULTS (1) (1) ADJ. EPS ADJ. EBITDA PROD. and G&A EXP. 0.07 384mm 10% QOQ. 4.26/boe (2) ADJ. PRODUCTION LIQUIDS MIX (4) ADJ. OIL PRODUCTION 4% QOQ. (3) 26% of total production 4% QOQ.…
  3. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 3
    2017 CAPITAL ALLOCATION AND FOCUS FLEXIBLE PROGRAM BUILDING FOR GROWTH IN 2018 2017 Capital Marcellus Shale 10 15 Spuds 50 60 TILS Powder River Basin 25 30 Spuds 28 33 TILS Utica Shale 40 50 Spuds 70 80 TILS Haynesville…
  4. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 4
    SOUTH TEXAS ASSET OVERVIEW UNDRILLED ACREAGE, POSITIONED FOR GROWTH 260,000 Net Acres in Eagle Ford 99% HBP/HBO Extended laterals driving value and providing strong oil growth in 2017 and 2018 Secure acreage position…
  5. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 5
    MID-CONTINENT WEDGE & OSWEGO RAPID OIL GROWTH LOW-COST, HIGH-RETURN OIL VOLUME 2 rigs 2 rigs Active in 2017 drilling 40 50 Wedge play Active in 2017 drilling 60 70 Oswego wells with 40 50 TILs wells with 55 65 TILs Cycle time of 38…
  6. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 6
    POWDER RIVER BASIN 2017 CAPITAL PROGRAM 2017 Focus Areas 2 rigs Active in 2017 drilling 25 30 wells Teapot with 28 33 TILs Parkman E, A, B/C & Deep Surrey Sussex Niobrara Turner Frontier Mowry Q4 2016 EARNINGS…
  7. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 7
    GULF COAST WORLD-CLASS RESOURCE CA 1H ROTC 1H Delivering monster IPs ROTC 1H 40 mmcf/d, 10,000' lateral, 5,200 lbs/ft CA 1H 38 mmcf/d, 10,000' lateral, 3,000 lbs/ft Nabors 2H 19 mmcf/d, 5,200 lateral, 5,000 lbs/ft 3 rigs…
  8. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 8
    UTICA SHALE VALUE OPTIMIZATION 2 rigs Active in 2017 drilling 40 50 wells with 70 80 TILs Value focused (1) DUC ROR 90% (1) New drill ROR 50% 2017 Focus Areas Operational highlights Average completed lateral length…
  9. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 9
    MARCELLUS SHALE SUSTAINABLE FREE CASH GROWTH Actual Production Significant flexibility to Free cash machine 2,400 maximize with favorable pricing 2,200 Delivers 225mm in 2017 (1) Limited capital required 2,000 Future 1,800…
  10. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 10
    RETURNING TO GROWTH PORTFOLIO STRENGTH AND OIL GROWTH WILL DRIVE MARGIN EXPANSION Total Production (mboe/d) (1) Oil Production (mbo/d) (1) 750 140 700 120 650 600 100 550 80 500 450 60 4Q'16 4Q'17E 4Q'18E…
  11. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 11
    Substantial progress on every front Strategic targets 2016 2020 Reduced total leverage by Grow production 5 15% 50% (11.2 billion) annually Improved cash costs by Expand margin through 50% per boe 10 20% annual oil growth…
  12. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 12
    Q4 2016 EARNINGS 13
  13. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 13
    RECONCILIATION OF ADJUSTED EARNINGS PER SHARE CHESAPEAKE ENERGY CORPORATION RECONCILIATION OF ADJUSTED NET INCOME AVAILABLE TO COMMON STOCKHOLDERS (in millions, except per share data) (unaudited) THREE MONTHS ENDED: December 31,…
  14. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 14
    RECONCILIATION OF ADJUSTED EBITDA CHESAPEAKE ENERGY CORPORATION RECONCILIATION OF ADJUSTED EBITDA ( in millions) (unaudited) December 31, December 31, THREE MONTHS ENDED: 2016 2015 EBITDA (198) (2,371) Adjustments: Unrealized…
  15. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 15
    2017 CAPITAL BUDGET 2017 Capital Budget 2017 budget of 1.9 2.5 billion 1.9 2.5B 0.2B Cap Int. 2017 investment expected to deliver FCF in 2018 1.7B Lower DUC working inventory 0.25B Cap Int. 1.7 2.3B D&C 1.45B D&C 2016…
  16. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 16
    OPTIMIZING DOWNSTREAM COMMITMENTS Optimizing Commitments To Further Increase EBITDA Reducing Commitments 7 billion reduction GP&T Commitments ( billion) In midstream and marketing YE14 YE15 YE16 YE17 commitments since 2014 16.0…
  17. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 17
    DEBT MATURITY PROFILE Pro forma tender results, OMRs, 6.25% Euro note maturity and 6.50% 2017 redemption Q4 2016 EARNINGS 18
  18. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 18
    HEDGING POSITION Natural Gas Oil NGL 2017 (1) 2017 (1) 2017 (1) 3% 7% 3.00/3.48/mcf Collars NYMEX 71% 68% 68% Swaps 3.07/mcf NYMEX Swaps 50.19/bbl Ethane Swaps 0.28/gal 120 bcf hedged in 2018 with swaps at an…
  19. 2016 Full Year and Q4 2016 Earnings – Chesapeake Energy Corp – slide 19
    CORPORATE INFORMATION HEADQUARTERS PUBLICLY TRADED SECURITIES CUSIP TICKER 7.25% Senior Notes due 2018 165167CC9 CHK18A 6100 N. Western Avenue 3mL + 3.25% Senior Notes due 2019 165167CM7 CHK19 Oklahoma City, OK 73118 WEBSITE:…

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