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2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc.

EOG Resources, Inc. · May 31, 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. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 1
  2. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 2
    U.S. Leader in Return on Capital Employed U.S. Oil Growth Leader Among Lowest Cost Producers in Global Oil Market Commitment to Safety and the Environment Create Significant Long-Term Shareholder Value Bernstein _0517-2
  3. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 3
    Premium Well Definition Minimum 30% Direct ATROR* at 40 Oil Does Not Change with Oil Prices More Oil from Fewer Wells - Higher Returns with Lower Finding and Development Costs - Drives Lower DD&A Rate and Higher ROCE Adding New…
  4. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 4
    2016 Wells Premium Non-Premium Direct ATROR* 100% 20% First Year Oil per Well (Gross, Bbl) 200,000 100,000 Direct Finding Cost (/Boe) 6.90 13.25 Capital Efficiency (/First Year Boed) 7,600 17,200 Number of Net Wells Completed…
  5. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 5
    Percent EOG Wells* Meeting Premium Drilling Direct ATROR* Premium Standard (Minimum Return for Premium) 90+% 80% 100%+ 60% 50% 30% 23% 14% 10% 2014 2015 2016 2017 2018+ Oil: 30 40 50 60 Est Est * Domestic gross completed…
  6. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 6
    Well Count 300 100% 250 15% of U.S. Hz Wells 1,000 BOED 80% 200 60% 150 40% 100 20% 50 0 0% EOG A B C D E F G H I J K L M N O P Q R S T * Source: Sanford C. Bernstein & Co. Thousand Club includes wells…
  7. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 7
    5,000 Lateral MBoe 200 Thousands EOG 150 Industry 100 50 0 Delaware Basin Delaware Basin Eagle Ford Bakken SCOOP/ Midland Basin Bone Spring Wolfcamp STACK Wolfcamp Cumulative nine-month production, normalized…
  8. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 8
    12-Month Cumulative MBO 300,000 300 EOG Delaware Basin Delaware Basin Peers 250 Midland Basin Peers 250,000 EOG Initiates: Precision Targeting Bubble Area Denotes 2016 30-Day IP Advanced Completions 200,000 200 2015…
  9. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 9
    Direct ATROR* Net Present Value per Well* (MM) 151% 5.9 4.8 104% 1.8 29% 15% 0.5 EOG EOG Industry Industry EOG EOG All Industry Industry Premium All Delaware Midland Premium Wells Delaware Midland Wells Wells Basin Basin…
  10. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 10
    Build on EOGs Premium Foundation Deliver Double-Digit High-Return Oil Production Growth - 18% YOY Growth at 47 Flat Oil* Balance Capex + Dividend with Discretionary Cash Flow - Complete 480 Net Wells - Average 26 Rigs in 2017…
  11. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 11
    mm 3,124 1,000 750 500 Cash Flow After Capex & Dividend 250 0 EOG (250) (500) (750) (1,000) JJ EOG EE GG II E M P T V Y Z A B C G H J K R U FF AA BB…
  12. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 12
    1Q 2017 Increased Premium Inventory by 1,200 Net Locations to 7,200 Wells - Premium Resource Potential Increased 27% to 6.5 BnBoe* - Increase 2.5X Forecast 2017 Well Completions - Added 700 Locations in Delaware Basin and 500 in…
  13. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 13
    7,200 6,000 4,300 3,200 1,740 Feb 2016 Aug 2016 Yates Sep 2016 May 2017 Resource 2.0 BnBoe 3.5 BnBoe 1.6 BnBoe 5.1 BnBoe 6.5 BnBoe Potential** Per Well 625 MBoe 815 MBoe 920 MBoe 850 MBoe 900 MBoe * Premium…
  14. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 14
    Delaware Basin South Texas Eagle Ford Bakken Wolfcamp Oil Play 1Q17 1Q17 9.8 -8% 5.7 -4% 8.5 7.2 1Q17 7.8 4.7 4.5 7.6 4.3 -6% 5.1 4.8 4.6 2015 2016 1Q17 Target 2015 2016 1Q17 Target 2015 2016 1Q17 Target * Normalized…
  15. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 15
    13.53 12.09* 10.55* 10.40** G&P G&A Transportation LOE 2014 2015 2016 2017E * Excludes one-time expenses of 19.4 million in 2015 related to early leasehold termination and 47.0 million in 2016 related to voluntary…
  16. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 16
    EOG Employees Are Incentivized to Deliver Returns Production and Reserve Growth/ Returns Replacement EOG 30% 6% A 10% 20% B 40% C 20% 10% D 25% E 10% 30% F 25% G 10% H 30% Source: Company Reports. Percentages…
  17. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 17
    WTI Oil: 17 28 26 61 71 95 46 HHub Gas: 2.20 4.10 3.40 7.20 4.20 3.70 2.50 30% 28% 26% 26% 22% 1998-2016 19% Average 18% 13.2% 15% 16% 14% 12% 8% 5% 5% 4% 4% 2% 1% -4% 1998 1999 2000 2001 2002 2003 2004…
  18. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 18
    MBopd 800 700 15%-25% CAGR 60 600 500 50 400 300 200 100 0 2016* 2017 2018 2019 2020 * Pro forma for full year of production from Yates in 2016. ** Discretionary Cash Flow Capex + Current Dividend. Bernstein…
  19. 2017 Bernstein Strategic Decisions Conference – EOG Resources, Inc. – slide 19
    Internal Prospect Generation First Mover Advantage Exploration Best Rock / Best Plays Low Cost Acreage Culture Most Prolific U.S. Horizontal Wells Fastest U.S. Horizontal Driller Rate-of-Return Driven Industry Leading…

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