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Q1 2017 Update – Newfield Exploration Co.

Newfield Exploration Co. · May 2, 2017 · 21 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. Q1 2017 Update – Newfield Exploration Co. – slide 1
    NFX 1Q17 Update NFX is periodically published to keep stockholders aware of current operating activities at Newfield. It may include estimates of expected production volumes, costs and expenses, recent changes to hedging positions and…
  2. Q1 2017 Update – Newfield Exploration Co. – slide 2
    1Q17 Key Messages What You Need to Know 1. Our near-term business plan is aligned with todays market realities 2. We are on a course to balance our capital investments with cash flow while sustainably delivering double-digit production…
  3. Q1 2017 Update – Newfield Exploration Co. – slide 3
    Domestic Growth Outlook Domestic Production (Mboepd) Anadarko Basin Production (Mboepd) 190 210 NEW 170 180 155 165 35% 150 170 137 NEW 125 135 35% Forecast to be updated in the future 108 118 Gas 88 Forecast to be updated 65%…
  4. Q1 2017 Update – Newfield Exploration Co. – slide 4
    STACK Results from Recent Upsized Completions Burgess 1H-18 14 250 Record Oil Well 85% liquids 60% oil 12 Upsized Completion Well Count 200 85% liquids 70% oil 10 150 8 MBOE 6 100 4 50 2 0 0 STACK 0 50 100…
  5. Q1 2017 Update – Newfield Exploration Co. – slide 5
    Upsized Completions Enhancing STACK Oil Production 500 400 Cumulative Oil Production, MBO 80% 300 60% 200 Payout in 1.75 years2 100 STACK type curve Oil EUR3 is 470 MBO with 60% production in the first 5 years…
  6. Q1 2017 Update – Newfield Exploration Co. – slide 6
    Control of OperationsA Founding Business Principle Gas Gathering, Processing & Takeaway Access to Premium Oil Markets Water Management System 6
  7. Q1 2017 Update – Newfield Exploration Co. – slide 7
    Control of Operations Gas Gathering, Processing & Takeaway Mitigating risks and ensuring field-level execution through creation of diversified portfolio of gathering and processing partners MarkWest, EnLink, Enable, DCP and Targa…
  8. Q1 2017 Update – Newfield Exploration Co. – slide 8
    Control of Operations Access to Premium Oil Markets Newfields STACK acreage is in the oil STACK Oil Differential to NYMEX1 window - (1.00) Our STACK barrel is high-quality NFX Begins Moving Oil via Pipe (2.00) 42 43o API…
  9. Q1 2017 Update – Newfield Exploration Co. – slide 9
    Control of Operations Anadarko Water Management System 100 miles of water pipe 10 million Bbls of water storage New Barton facility to provide 30,000 Bbl/d of water recycling capacity Recycled water to provide an estimated 40%…
  10. Q1 2017 Update – Newfield Exploration Co. – slide 10
    Appendix
  11. Q1 2017 Update – Newfield Exploration Co. – slide 11
    1Q17 Average Production by Area Anadarko Williston Uinta China Production Basin Basin Basin (Liftings) 1 Oil (bopd) 29,744 12,667 12,889 7,144 NGL (boepd) 23,311 3,200 378 -- Gas (boepd) 34,824 3,070 3,020 -- Total (boepd) 87,879…
  12. Q1 2017 Update – Newfield Exploration Co. – slide 12
    2017e Production, Cost and Expense Guidance Domestic China Total Production Oil % 41% 100% 44% NGLs % 19% -- 18% Natural Gas % 40% -- 38% Total (mboepd)1 143.4 153.8 6.0 7.0 149.4 160.8 Expenses (/boe)2 LOE3 3.44 15.85 3.98…
  13. Q1 2017 Update – Newfield Exploration Co. – slide 13
    2Q17e Production, Cost and Expense Guidance Domestic China Total Production Oil % 40% 100% 44% NGLs % 19% -- 18% Natural Gas % 41% -- 38% Total (mboepd) 134.1 140.1 8.5 9.0 142.6 149.1 Expenses (/boe)1 LOE2 3.66 16.69 4.45…
  14. Q1 2017 Update – Newfield Exploration Co. – slide 14
    OIL HEDGING DETAILS AS OF 4/27/17 WEIGHTED-AVERAGE PRICE VOLUME SWAPS W/ PURCHASED COLLARS W/ PERIOD SWAPS (BBL/D) SHORT PUTS1 CALLS2 SHORT PUTS3 17,000 45.43 -- -- -- 10,000 -- 73.10/88.09 -- -- 2Q 2017 20,000 -- -- 74.05 --…
  15. Q1 2017 Update – Newfield Exploration Co. – slide 15
    OIL HEDGING DETAILS AS OF 4/27/17 The following table details the expected impact to pre-tax income (in millions, except prices) from the settlement of our derivative contracts, outlined on the previous slide, at various NYMEX oil…
  16. Q1 2017 Update – Newfield Exploration Co. – slide 16
    GAS HEDGING DETAILS AS OF 4/27/17 WEIGHTED-AVERAGE PRICE PERIOD VOLUME (MMBTU/D) SWAPS COLLARS 75,000 2.73 -- 2Q 2017 140,000 -- 2.79-3.20 75,000 2.73 -- 3Q 2017 140,000 -- 2.79-3.20 75,000 2.73 -- 4Q 2017 170,000 -- 2.87-3.28…
  17. Q1 2017 Update – Newfield Exploration Co. – slide 17
    GAS HEDGING DETAILS AS OF 4/27/17 The following table details the expected impact to pre-tax income (in millions, except prices) from the settlement of our derivative contracts, outlined on the previous slide, at various NYMEX gas…
  18. Q1 2017 Update – Newfield Exploration Co. – slide 18
    2016 Production and costs pro forma for divestitures Domestic 2015 FY 2016 FY Gas (mmcf/d) 339.7 369.5 Crude (mbls/d) 58.5 57.3 NGL (mbls/d) 23.4 29.3 Total Production (mboepd) 138.5 148.2 LOE (/boe) 4.75 3.86 Transportation…
  19. Q1 2017 Update – Newfield Exploration Co. – slide 19
    2017 Capital investments YTD Total Company ( in millions) Capital Expenditures: Q1 Q2 Q3 Q4 FY17 Exploration & development 186 -- -- -- 186 Leasehold 30 -- -- -- 30 Pipeline -- -- -- -- -- Total Capital Expenditures1 216 -- -- --…
  20. Q1 2017 Update – Newfield Exploration Co. – slide 20
    Solid capital structure 1.8 bn unsecured credit facility maturing 2020 2.4 bn of total liquidity No fixed debt maturities until 2022 Weighted average fixed debt maturity of 7 years at 4.6% YTM1 Net debt / adj EBITDA2 Fixed debt…
  21. Q1 2017 Update – Newfield Exploration Co. – slide 21
    Non-GAAP reconciliation of Adjusted EBITDA Twelve Months Ended December 31, March 31, ( in millions) 2015 2016 2017 Net Income (3,362) (1,230) (459) Adjustments to derive EBITDA: Interest expense, net of capitalized interest 131…

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