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2017 Leverage Finance Conference – Chesapeake Energy Corp

Chesapeake Energy Corp · Oct 3, 2017 · 22 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 Leverage Finance Conference – Chesapeake Energy Corp – slide 1
    2017 LEVERAGED FINANCE CONFERENCE Scottsdale, Arizona October 3, 2017 Sponsored by Deutsche Bank 1
  2. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 2
    OUR STRATEGY STRONG THROUGH COMMODITY PRICE CYCLES BUSINESS STRATEGIES: Financial Discipline 2H 2017 and 2018 Priorities Business Development Delivering the 2017 plan Profitable and Efficient Growth from 2 3 billion of asset…
  3. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 3
    MOMENTUM BUILDING INTO 4Q17 DELAYS OF 3Q17 ARE BEHIND US 600 Total Company Production Estimated 3Q17 total production of 542 mboe/d Net production (mboe/d) 550 Estimated 3Q17 oil production of 86 mbo/d 500 4Q17 production…
  4. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 4
    OPERATIONS SETTING THE STAGE AS WE ENTER 2018 Oil growth, efficiencies creating margin expansion 120 Projected Total Oil Production Drilling longer laterals 100 Enhanced completion designs Net production (mbo/d) Testing…
  5. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 5
    2017 CAPITAL ALLOCATION FLEXIBLE PROGRAM VALUE FOCUSED Powder River Basin 2 Rigs / 1 Frac Crew 25 30 Spuds 23 28 TILS Powder River Basin Hotspot advantage Stacked pay opportunities Significant resource potential 2017…
  6. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 6
    POWDER RIVER BASIN BUILDING MOMENTUM Moving to development phase Net Production Potential 40 Analyst Day Projection Oil growth provided by 35 Sussex, Turner and Niobrara 30 25 mboe/d More Turner and Sussex 20 TILs in 2H17…
  7. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 7
    POWDER RIVER BASIN TURNER UPDATE OUTSTANDING INITIAL RESULTS Graham 23-35-71 15H TIL 9/8/2017 (6 days) 4,500' lateral Peak rate to date 1,700 boe/d (80% oil) Well still cleaning up CUM BOE/1000 FT vs Producing Months OIL…
  8. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 8
    POWDER RIVER BASIN TURNER UPDATE FUTURE TESTS Third rig in October Turner focused Potential tests for 2017 2018 Spacing Test 6 wells Current assumption 2,640 Extents Test 5 wells OIL CONDENSATE Continuing to evaluate…
  9. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 9
    POWDER RIVER BASIN SUSSEX SANDSTONE HIGHLY ECONOMIC OIL PLAY Dominant position in the play Sussex Performance CHK Sussex Development mode Industry Sussex Gross Cumulative Production (mboe) Utilizing seismic to delineate…
  10. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 10
    POWDER RIVER BASIN SUSSEX SANDSTONE WHERE WE ARE NOW AND WHERE WE ARE GOING TURNING IN LINE UPCOMING LOCATIONS 10 gas condensate wells 15 volatile oil wells Finishing completions in September 6 gas condensate wells 1 black oil…
  11. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 11
    2017 CAPITAL ALLOCATION FLEXIBLE PROGRAM VALUE FOCUSED South Texas Oil production growth engine Eagle Ford Shale 6 Rigs / 4 Frac Crews Longer laterals driving value 175 195 Spuds 155 175 TILS Enhanced completions yielding…
  12. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 12
    SOUTH TEXAS EAGLE FORD ACCELERATING VALUE WITH LONGER LATERALS South Texas F&D Cost (1) (/boe) Large remaining potential 21 17 Estimated net resources of 2.0 bboe 15 11 9 2013 2014 2015 2016 2017E Oil growth engine 10%…
  13. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 13
    SOUTH TEXAS EAGLE FORD MORE VALUE, LESS CAPITAL INTENSITY Blakeway 1 C DIM 2H What we are learning 250 Cumulative Production (mbo) 200 Longer laterals are paying off 150 Enhanced completions with upspacing are leading to…
  14. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 14
    2017 CAPITAL ALLOCATION FLEXIBLE PROGRAM VALUE FOCUSED Gulf Coast Haynesville Shale Longer laterals creating 3 Rigs / 2 Frac Crews 30 35 Spuds greater value 32 37 TILS Refracs improve capital efficiency Bossier resource…
  15. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 15
    HAYNESVILLE DELIVERING EXCEPTIONAL PRODUCTIVITY Haynesville Production(1) 4,500 Delivering monster IPs 4,000 CHK Wells Hunter 1H 38 mmcf/d, 7,500' lateral, 3Q 2017 TIL Gross Cumulative Production (Mmcf) Average Nguyen 1H…
  16. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 16
    2017 CAPITAL ALLOCATION FLEXIBLE PROGRAM VALUE FOCUSED Appalachia 2 Rigs / 2 Frac Crews 50 65 Spuds 110 130 TILS Appalachia Optimizing stimulation designs Utica oil growth Significant resource potential 2017 DEUTSCHE…
  17. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 17
    MARCELLUS SHALE ENHANCED COMPLETIONS DELIVERING VALUE Industry Well Record results 61 mmcf/d McGavin 6H McGavin E WYO 6H, IP30 55 mmcf/d IP: 61 mmcf/d Enhanced completion design TIL 7/28/2017, 10,500' lateral Core expansion…
  18. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 18
    OUR STRATEGY STRONG THROUGH COMMODITY PRICE CYCLES BUSINESS STRATEGIES: Financial Discipline 2H 2017 and 2018 Priorities Business Development Delivering the 2017 plan Profitable and Efficient Growth from 2 3 billion of asset…
  19. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 19
    Appendix 2017 DEUTSCHE BANK LEVERAGED FINANCE CONFERENCE 20
  20. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 20
    HEDGING POSITION Natural Gas Oil NGL OctDec 2017 (1) OctDec 2017 (1) OctDec 2017 (1) 10% 8% Collars 3.25/3.68/mcf NYMEX 82% 63% 72% Swaps 3.16/mcf NYMEX Swaps 50.36/bbl Propane Swaps 0.76/gal 532 bcf of 2018 gas…
  21. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 21
    REDUCED DEBT AND PUSHED BACK MATURITIES 9.4 billion Principal balance 9/30/2017(1) Secured Pro forma for LM activity announced 9/27/17 300 million in additional net proceeds from issuance for 2,500 GCP, including repurchase of…
  22. 2017 Leverage Finance Conference – Chesapeake Energy Corp – slide 22
    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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