2017 UBS GLOBAL OIL AND GAS CONFERENCE Austin, Texas May 24, 2017
OUR STRATEGY STRONG THROUGH COMMODITY PRICE CYCLES BUSINESS STRATEGIES: Financial Discipline Near-term focus What we are doing now Business Development Margin expansion oil growth driven by the PRB, Profitable and new Eagle Ford…
2017 CAPITAL ALLOCATION FLEXIBLE PROGRAM VALUE FOCUSED Powder River Basin 2 Rigs / 1 Frac Crew Marcellus Shale D&C Asset Funding: 10% 1 Rig / 1 Frac Crew D&C Asset Funding: 5% Mid-Continent Utica Shale Capital allocation…
POWDER RIVER BASIN WHY THE POWDER RIVER BASIN MATTERS 2.7 bboe Of resource potential 2,600 risked locations Parkman 175 mmboe resource base 200+ undrilled locations 2,640' spacing Sussex 150 mmboe resource base Average 80%…
POWDER RIVER BASIN TURNER UPDATE OUTSTANDING INITIAL RESULTS Turner 1st well Turner 2nd well TIL 3/16/2017 7,100' lateral TIL 5/17/2017 4,500' lateral Peak rate 2,560 boe/d (78% oil) 17 miles from Sundquist location 30-day…
POWDER RIVER BASIN TURNER UPDATE WHAT WE KNOW 10,000 What we know today Cumulative Oil, bbl 7,500 Continuous reservoir across acreage 5,000 Industry Offsets 100 vertical industry penetrations 2,500 3-D seismic 0 00 5…
SUSSEX SANDSTONE MOVING TO DEVELOPMENT MODE Targeted development Single-well ROR: 25 50% (1) Currently drilling 3- and 6-well Sussex pads, 12 total TILs in Q3 (3 DUCs) Drilling 20 wells in 2017 1 PRB Sussex well 35 45/bbl oil…
POWDER RIVER BASIN PROVING THE STACKED PAY POTENTIAL 2017 Pending Tests Additional Turner results Net Production Potential Option to add a rig to focus on Current Prod Oil NGL Natural Gas 40 Turner development exclusively 35…
MID-CONTINENT MERAMEC DEVELOPING A CORE POSITION Willamette 1H (2-mile) Schoeppel 1H Meramec (St. Genevieve) Meramec (St. Genevieve) IP 30 = 1,367 boe/d, 62% oil IP 30 = 983 boe/d, 46% oil Osmus 1H (2-mile) Meramec (St.…
UTICA SHALE BACK TO A GROWTH TRAJECTORY Enhanced completions Average completed lateral length in 2017 9,600', 2017 Focus Areas 70 80 TILs planned in 2017, Activity split 50/50 in wet and dry focus areas 150mm Projected free…
SOUTH TEXAS BATCH DEVELOPMENT ENHANCED COMPLETIONS Faith Ranch 21,000 net acres 221 producing wells 163 lower Eagle Ford inventory 70% of project has new completion designs Faith Ranch 2017 Development 17 wells: 19…
SOUTH TEXAS UPDATE INCREASING OUR RETURN ON CAPITAL Blakeway 1C DIM 2H 120 Notable performance Blakeway 1C DIM 2H 100 TIL 3/22/2017 9,833' lateral 80 Cum Oil (MBO) Peak rate 3,184 boe/d (88% oil) 60 2,025 boe/d 30-day…
CHESAPEAKE UNLOCKING OUR POTENTIAL Doing more in 2H 2017 PRB Turner and Parkman results, 9 12 Sussex wells, Mowry test Mid-Continent Meramec moves to development, begin testing Chester Appalachia Enhanced completions in…
UNRECOGNIZED VALUE, UNLOCKED POTENTIAL Investment Thesis Resilient, strong, diverse portfolio PRB Stacked oil growth opportunities Mid-Continent Emerging Wedge play Marcellus FCF machine, best gas rock in country Utica Resource…
2017 UBS GLOBAL OIL AND GAS CONFERENCE 16
CHESAPEAKE OPERATING PERFORMANCE RELENTLESS FOCUS ON COST MANAGEMENT 2016 Production Expense (1) 25.00 2.50 2.70/boe 2017 production expense guidance 20.00 15% improvement YOY 15.00 3.05/boe /boe 2016 production…
HEDGING POSITION Natural Gas Oil NGL Apr Dec 2017 (1) Apr Dec 2017 (1) Apr Dec 2017 (1) 4% 4% Collars 3.25/3.68/mcf NYMEX 75% 64% 71% Swaps 3.04/mcf NYMEX Swaps 50.25/bbl Ethane Swaps 0.28/gal 298 bcf hedged in…
REDUCED DEBT AND PUSHED BACK MATURITIES 11.7 billion Principal balance at 9/30/2015 (1) 2.6 billion debt reduction over 18 months 9.1 billion Principal balance at 3/31/2017 3,000 2,870 2,500 2,320 2,213 2,196 9/30/2015…
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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