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2Q 2017 Investor Presentation – Newfield Exploration Co.

Newfield Exploration Co. · Aug 1, 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. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 1
    NFX 2Q17 Update NFX is periodically published to keep stockholders aware of current operating activities at Newfield. It may include estimates of expected reserves, production volumes, costs and expenses, recent changes to hedging…
  2. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 2
    2Q17 Key Messages What You Need to Know 1. We are on-track to deliver our 3-year plan for double-digit CAGR in production at strip prices 2. We exceeded the mid-point of our 2Q17 domestic production guidance by nearly 4,000 BOEPD net…
  3. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 3
    Positive Results from Recent Stark Pilot NEW 9 infill wells in the Meramec Stark Pilot Average IP24: 1,500 BOEPD (71% oil, 85% liquids) Average IP30: 1,211 BOEPD (65% oil, 82% liquids) Production projecting above 1,100 MBOE TC…
  4. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 4
    Dorothy Pilot Outperforming TC After 200 Days After 200 days, cumulative production from Dorothy infill Dorothy Pilot wells is significantly above 1,100 MBOE TC Average IP30: 1,244 BOEPD (64% oil, 81% liquids) Current GEN17…
  5. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 5
    Eastern STACK Wells Projecting Above TC Continue to deliver TC or greater results across vast acreage position NEW average of 3 recent Eastern HBP wells projecting above 1,100 MBOE TC Average IP24: 1,647 BOEPD (66% oil, 82% liquids)…
  6. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 6
    SCOOP 2017 Infills Show Productivity Gains Tina Infill Wells Optimized completions, tighter density improve economics IP30: 1,708 BOEPD 17% increase in IP30 avg. rates 25% decrease in completed well costs 2X increase in completion…
  7. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 7
    Williston Basin: Continued Improvements, Expanding Inventory After nearly 200 wells, NFX continues to show performance Williston improvements in development phase Malm Pad Improvements in completion designs enhancing economics IP24:…
  8. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 8
    Appendix
  9. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 9
    2017 Capital investments YTD Total Company ( in millions) Capital Expenditures: Q1 Q2 Q3 Q4 FY17 Exploration & development 186 271 -- -- 457 Leasehold 30 24 -- -- 54 Pipeline -- 1 -- -- 1 Total Capital Expenditures1 216 296 -- --…
  10. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 10
    2Q17 Average Production by Area Anadarko Williston Uinta China Production Basin Basin Basin (Liftings) 1 Oil (bopd) 29,370 13,127 13,804 9,129 NGL (boepd) 23,561 3,152 381 -- Gas (boepd) 35,607 3,779 3,042 -- Total (boepd) 88,538…
  11. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 11
    2017e Production, Cost and Expense Guidance Domestic China Total Production Oil % 41% 100% 42% NGLs % 19% -- 19% Natural Gas % 40% -- 39% Total (mboepd)1 145.4 153.8 4.0 149.4 157.8 Expenses (/boe)2 LOE3,5 3.41 16.48 3.76…
  12. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 12
    3Q17e Production, Cost and Expense Guidance Domestic China Total Production Oil % 41% -- 41% NGLs % 19% -- 19% Natural Gas % 40% -- 40% Total (mboepd) 151.0 157.7 -- 151.0 157.7 Expenses (/boe)1 LOE2,4 3.26 -- 3.37 Transportation3…
  13. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 13
    Domestic Growth Outlook Domestic Production (Mboepd) Anadarko Basin Production (Mboepd) 190 210 170 180 35% 155 165 150 170 137 125 135 35% Forecast to be updated in the future 108 118 Gas 88 Forecast to be updated 65% in the…
  14. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 14
    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 4.8% YTM1 Net debt / adj EBITDA2 Fixed debt…
  15. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 15
    Non-GAAP reconciliation of Adjusted EBITDA Twelve Months Ended December 31, June 30, ( in millions) 2015 2016 2017 Net Income (3,362) (1,230) 306 Adjustments to derive EBITDA: Interest expense, net of capitalized interest 131 103…
  16. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 16
    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…
  17. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 17
    OIL HEDGING DETAILS AS OF 7/31/17 WEIGHTED-AVERAGE PRICE VOLUME SWAPS W/ PURCHASED COLLARS W/ SHORT PERIOD SWAPS (BBL/D) SHORT PUTS1 CALLS2 PUTS3 22,304 46.49 -- -- -- 13,000 -- 73.08/87.90 -- -- 3Q 2017 13,000 -- -- 73.08 -- --…
  18. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 18
    OIL HEDGING DETAILS AS OF 7/31/17 WEIGHTED-AVERAGE PRICE VOLUME SWAPS W/ PURCHASED COLLARS W/ SHORT PERIOD SWAPS (BBL/D) SHORT PUTS1 CALLS2 PUTS3 -- -- -- -- -- -- -- -- -- -- 1Q 2018 -- -- -- -- -- 12,000 -- -- -- 38/46-56.00…
  19. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 19
    OIL HEDGING DETAILS AS OF 7/31/17 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…
  20. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 20
    GAS HEDGING DETAILS AS OF 7/31/17 WEIGHTED-AVERAGE PRICE PERIOD VOLUME (MMBTU/D) SWAPS COLLARS 75,000 2.73 -- 3Q 2017 140,000 -- 2.79-3.20 75,000 2.73 -- 4Q 2017 170,000 -- 2.87-3.28 30,000 3.01 -- 1Q 2018 110,000 -- 3.16-3.74…
  21. 2Q 2017 Investor Presentation – Newfield Exploration Co. – slide 21
    GAS HEDGING DETAILS AS OF 7/31/17 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…

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