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Q3 2017 Presentation – Newfield Exploration Co.

Newfield Exploration Co. · Oct 31, 2017 · 23 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. Q3 2017 Presentation – Newfield Exploration Co. – slide 1
    NFX 3Q17 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. Q3 2017 Presentation – Newfield Exploration Co. – slide 2
    3Q17 Key Messages What You Need to Know 1. We exceeded the mid-point of our 3Q17 net domestic production guidance by 4,650 BOEPD and again raised our 2017 outlook Total Company net production was 161,700 BOEPD (42% oil and 64%…
  3. Q3 2017 Presentation – Newfield Exploration Co. – slide 3
    Newfield is Focused on Value Creation Tomorrows Winners Sustainable Value Creation Premium Inventory Vast, High Quality Resource High-Grade Drilling Inventory 40% + IRR Combination of Returns and Growth Profitable Growth…
  4. Q3 2017 Presentation – Newfield Exploration Co. – slide 4
    STACK Freeman & Stark Infill Wells vs. Type Curve Stark Pilot Freeman Pilot NEW Freeman pilot (9 infill wells in the Meramec) Average IP30: 1,278 BOEPD (70% oil, 84% liquids) Average IP60: 1,156 BOEPD (67% oil, 83% liquids) Stark…
  5. Q3 2017 Presentation – Newfield Exploration Co. – slide 5
    Recent Strong STACK HBP Results and Record Setting Oil Well NANCY 1809 1H-32 JOLEE 1H-5 H&W 1H-28X NEW Hoile & HBP Wells vs. 440 MBO Oil TC IP30: 1,233 BOEPD IP30: 1,303 BOEPD IP30: 1,852 BOEPD 100 76% Oil 55% Oil 63% Oil GPI: 4,479…
  6. Q3 2017 Presentation – Newfield Exploration Co. – slide 6
    SCOOP McClelland & Tina Comparison vs. Type Curve Tina Wells NEW McClelland development (8 infill wells in the Woodford) IP120: 1,465 BOEPD Average IP30: 1,966 BOEPD (36% oil, 70% liquids) Tina development (7 infill wells in the…
  7. Q3 2017 Presentation – Newfield Exploration Co. – slide 7
    NFX is the Best-in-Class Driller Active drilling programs in several basins NFX Williston Avg. Ft/Day vs. Peers allows rapid transfer of lessons learned Constant benchmarking against peers encourages continual improvement…
  8. Q3 2017 Presentation – Newfield Exploration Co. – slide 8
    Data Analytics Is Changing The Game For Newfield & Industry Initiated in 2013 Thousands of Oklahoma wells catalogued in database dating back to 2010 6 billion usable data points impacting decisions Realized learnings enhance our…
  9. Q3 2017 Presentation – Newfield Exploration Co. – slide 9
    Appendix
  10. Q3 2017 Presentation – Newfield Exploration Co. – slide 10
    2017 Capital investments YTD Total Company ( in millions) Capital Expenditures: Q1 Q2 Q3 Q4 YTD Exploration & development 186 271 304 -- 761 Leasehold 30 24 12 -- 66 Pipeline -- 1 -- -- 1 Total Capital Expenditures1 216 296 316 --…
  11. Q3 2017 Presentation – Newfield Exploration Co. – slide 11
    3Q17 Average Production by Area Anadarko Williston Uinta China Production Basin Basin Basin (Liftings) 1 Oil (bopd) 36,910 14,068 14,458 2,598 -- NGL (boepd) 31,209 3,768 434 -- Gas (boepd) 36,689 4,072 3,110 Total (boepd) 104,808…
  12. Q3 2017 Presentation – Newfield Exploration Co. – slide 12
    2017e Production, Cost and Expense Guidance Domestic China Total Production Oil % 40% 100% 42% NGLs % 21% -- 20% Natural Gas % 39% -- 38% Total (mboepd)1 150.0 154.0 4.7 154.7 158.7 Expenses (/boe)2 LOE3,5 3.48 15.65 3.84…
  13. Q3 2017 Presentation – Newfield Exploration Co. – slide 13
    4Q17e Production, Cost and Expense Guidance Domestic China Total Production Oil % 39% -- 39% NGLs % 22% -- 22% Natural Gas % 39% -- 39% Total (mboepd) 162.0 174.0 -- 162.0 174.0 Expenses (/boe)1 LOE2,4 3.20 -- 3.30 Transportation3…
  14. Q3 2017 Presentation – Newfield Exploration Co. – slide 14
    Solid capital structure 1.8 bn unsecured credit facility maturing 2020 2.3 bn of total liquidity No fixed debt maturities until 2022 Weighted average fixed debt maturity of 6 years at 4.3% YTM1 Net debt / adj EBITDA2 Fixed debt…
  15. Q3 2017 Presentation – Newfield Exploration Co. – slide 15
    Non-GAAP reconciliation of Adjusted EBITDA Twelve Months Ended December 31, September 30, ( in millions) 2015 2016 2017 Net Income (3,362) (1,230) 345 Adjustments to derive EBITDA: Interest expense, net of capitalized interest 131 103…
  16. Q3 2017 Presentation – Newfield Exploration Co. – slide 16
    OIL HEDGING DETAILS AS OF 10/30/17 WEIGHTED-AVERAGE PRICE VOLUME SWAPS W/ PURCHASED COLLARS W/ SHORT PERIOD SWAPS (BBL/D) SHORT PUTS1 CALLS2 PUTS3 31,000 47.52 -- -- -- 11,000 -- 73.09/88.01 -- -- 4Q 2017 11,000 -- -- 73.09 -- --…
  17. Q3 2017 Presentation – Newfield Exploration Co. – slide 17
    OIL HEDGING DETAILS AS OF 10/30/17 WEIGHTED-AVERAGE PRICE VOLUME SWAPS W/ PURCHASED COLLARS W/ SHORT PERIOD SWAPS (BBL/D) SHORT PUTS1 CALLS2 PUTS3 -- -- -- -- -- -- -- -- -- -- 1Q 2019 -- -- -- -- -- 28,000 -- -- --…
  18. Q3 2017 Presentation – Newfield Exploration Co. – slide 18
    OIL HEDGING DETAILS AS OF 10/30/17 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…
  19. Q3 2017 Presentation – Newfield Exploration Co. – slide 19
    OIL HEDGING DETAILS AS OF 10/30/17 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. Q3 2017 Presentation – Newfield Exploration Co. – slide 20
    GAS HEDGING DETAILS AS OF 10/30/17 WEIGHTED-AVERAGE PRICE PERIOD VOLUME (MMBTU/D) SWAPS COLLARS 75,000 2.73 -- 4Q 2017 170,000 -- 2.87-3.28 30,000 3.01 -- 1Q 2018 190,000 -- 3.14-3.73 150,000 2.99 -- 2Q 2018 40,000 --…
  21. Q3 2017 Presentation – Newfield Exploration Co. – slide 21
    GAS HEDGING DETAILS AS OF 10/30/17 WEIGHTED-AVERAGE PRICE PERIOD VOLUME (MMBTU/D) SWAPS COLLARS 10,000 2.91 -- 1Q 2019 90,000 -- 3.00-3.48 10,000 2.91 -- 2Q 2019 -- -- -- 10,000 2.91 -- 3Q 2019 -- -- -- 10,000 2.91 -- 4Q 2019…
  22. Q3 2017 Presentation – Newfield Exploration Co. – slide 22
    GAS HEDGING DETAILS AS OF 10/30/17 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…
  23. Q3 2017 Presentation – Newfield Exploration Co. – slide 23
    GAS HEDGING DETAILS AS OF 10/30/17 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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