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Q3 2017 Presentation – EOG Resources, Inc.

EOG Resources, Inc. · Nov 3, 2017 · 36 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 – EOG Resources, Inc. – slide 1
    3Q 2017 NYSE Stock Symbol: EOG Investor Relations Contacts Common Dividend: 0.67 David J. Streit, Vice President IR/PR Common Shares Outstanding: 578 Million (713) 571-4902, dstreiteogresources.com Kimberly M. Ehmer, Director IR/PR…
  2. Q3 2017 Presentation – EOG Resources, Inc. – slide 2
    3Q 2017 Announced Two New Premium Oil Plays - Eastern Anadarko Basin Woodford Oil Window - Delaware Basin First Bone Spring Added 800 Net Locations to Premium Inventory, Totaling 8,000 Wells - Premium Resource Potential Increased…
  3. Q3 2017 Presentation – EOG Resources, Inc. – slide 3
    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 EOG _1117-4
  4. Q3 2017 Presentation – EOG Resources, Inc. – slide 4
    Internal Prospect Generation First Mover Advantage Exploration Best Rock / Best Plays Low Cost Acreage Most Prolific U.S. Horizontal Wells Culture Fastest U.S. Horizontal Driller Rate-of-Return Driven Industry Leading Completion…
  5. Q3 2017 Presentation – EOG Resources, Inc. – slide 5
    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% 13.2% 19% Average 18% 1998-2016 15% 16% 14% 12% 8% 5% 5% 4% 4% 2% 1% -4% 1998 1999 2000 2001 2002 2003 2004…
  6. Q3 2017 Presentation – EOG Resources, Inc. – slide 6
    Premium Non-Premium Direct ATROR* 100% 20% First Year Gross Oil 200,000 100,000 (Bbl/well) Direct Finding Cost 7 13 (/BOE) U.S. Production DD&A Higher ROCE MBOD /BOE 335.0 17.34 15.60 278.3 2016 2017E** 2016…
  7. Q3 2017 Presentation – EOG Resources, Inc. – slide 7
    Shifting to Premium Locations Premium Drilling Direct ATROR* (% Completed Premium Wells*) (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 * Percent of…
  8. Q3 2017 Presentation – EOG Resources, Inc. – slide 8
    MM 1,250 2017 Consensus Cash Flow After Capex & Dividend 1,000 Based on 50 WTI 750 500 EOG 250 0 (250) (500) (750) (1,000) Source: FactSet consensus, U.S E&P Companies 500MM market cap, as of 10/25/17.…
  9. Q3 2017 Presentation – EOG Resources, Inc. – slide 9
    Committed to the Dividend High Rate-of-Return Reinvestment 16 Increases in 17 Years - Focus on Premium Drilling - Grow Premium Inventory through 0.70 Organic Exploration 0.60 0.50 Maintain Strong Balance Sheet - Provides…
  10. Q3 2017 Presentation – EOG Resources, Inc. – slide 10
    8,000 7,200 6,000 4,300 3,200 Feb 2016 Aug 2016 Sep 2016 May 2017 Nov 2017 Resource 6.5 BnBoe 7.3 BnBoe 2.0 BnBoe 3.5 BnBoe 5.1 BnBoe Potential** Per Well 625 MBoe 815 MBoe 850 MBoe 900 MBoe 900 MBoe * Premium…
  11. Q3 2017 Presentation – EOG Resources, Inc. – slide 11
    EOG Acreage Outline High-Return Premium Play in Crude Oil Window CANADIAN OKLAHOMA - Added 260 Net Wells to Premium Inventory 50,000 Net Acres Prospective Oklahoma City - Accumulated for 750 per Acre CLEVELAND - 660 Spacing -…
  12. Q3 2017 Presentation – EOG Resources, Inc. – slide 12
    Delineated Fourth Premium Target in Delaware Basin 100,000 Net Acres Prospective in Northern Delaware Basin - 555 Total Net Premium Locations; 540 Net Premium Wells Remaining - 1,000 Spacing - Complete 10 Net Wells in 2017 vs. 3 in…
  13. Q3 2017 Presentation – EOG Resources, Inc. – slide 13
    Total Resource Undrilled Net Drilled & Undrilled Potential** Premium Play Acres Locations* (MMBoe) Locations*** Eagle Ford 528,000 7,200 3,200 2,425 Delaware Basin - Wolfcamp 346,000 2,660 2,900 1,700 - First Bone Spring 100,000…
  14. Q3 2017 Presentation – EOG Resources, Inc. – slide 14
    Wells with Peak Month Oil 1,600 Bopd Operators Plays 37% Drilled by EOG Bakken Eagle Ford EOG * Source: IHS Markit analysis of Super Hogs, defined as wells completed since January 2016 with peak month oil production…
  15. Q3 2017 Presentation – EOG Resources, Inc. – slide 15
    Direct ATROR* 91% EOG Industry 67% 65% 57% 23% 16% 9% 6% Permian Eagle Ford Powder River Bakken EOG % 80% 61% 55% 41% Premium** * ATROR calculated using 50 WTI and 3.00 NYMEX fixed for life of well. Assumes…
  16. Q3 2017 Presentation – EOG Resources, Inc. – slide 16
    7,000 Lateral Boed 1,400 Delaware Basin Oil Midland Basin Oil 1,200 Solid Colors: Oil 1,000 Gray Bar: Natural Gas 800 600 400 200 0 EOGA B C D E F G H I J K L M N O P Q R S T U V W X Y Z AA BB CC Well Count 75 6 10 12…
  17. Q3 2017 Presentation – EOG Resources, Inc. – slide 17
    Crude Oil (MBod) Wells to Sales 843 853 853 812 335 283 282 278 212 505 479 149 443 102 2011 2012 2013 2014 2015 2016 2017 Forecast** * Net U.S. crude oil production and wells to sales ** Based on midpoint of…
  18. Q3 2017 Presentation – 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. EOG _1117-19
  19. Q3 2017 Presentation – EOG Resources, Inc. – slide 19
    EOG _1117-20
  20. Q3 2017 Presentation – EOG Resources, Inc. – slide 20
    Data Collection Data Management Data Science Data Delivery Real-Time 65+ Proprietary Applications - Scalable Frac Fleets Rigs - Integrated Models - Predictive Analytics Algorithms Proprietary - Proprietary Algorithms Data Marts…
  21. Q3 2017 Presentation – EOG Resources, Inc. – slide 21
    3. Drill 2. Overall 1. Grade Rock Characteristics High to Low Quality Grade * Sample 1-foot core extracted from Lower Eagle Ford. Enlarged to show detail of the rock. Lower Eagle Ford EOG _1117-22
  22. Q3 2017 Presentation – EOG Resources, Inc. – slide 22
    Enhance Complexity to Contain Events Closer Contact More Surface Area to Wellbore Note: Microseismic dots represent well stimulation events during completions. EOG _1117-23
  23. Q3 2017 Presentation – EOG Resources, Inc. – slide 23
    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…
  24. Q3 2017 Presentation – EOG Resources, Inc. – slide 24
    EOG Competitive Globally Brent (/BBL) 100 90 80 New Marginal Cost of Oil US L48 Conv 70 ( 65 - 75) US L48 Conv Oil Sands Russia North Sea 60 GOM Angola Far East U.S. Tight Oil Brazil 50 Mexico Nigeria 40 Venezuela 30…
  25. Q3 2017 Presentation – EOG Resources, Inc. – slide 25
    Delaware Basin South Texas Eagle Ford Bakken Wolfcamp Oil Play YTD YTD 9.8 -11% 5.7 -4% 8.5 7.2 YTD 4.7 4.5 7.6 7.6 4.3 -6% 5.1 4.8 4.6 2015 2016 YTD Target 2015 2016 YTD Target 2015 2016 YTD Target * Normalized to…
  26. Q3 2017 Presentation – EOG Resources, Inc. – slide 26
    13.53 12.09* 10.55* 10.52** 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…
  27. Q3 2017 Presentation – EOG Resources, Inc. – slide 27
    Brushy Canyon City Hall Leonard A Leonard B 1st Bone Spring 4,800 2nd Bone Spring Wall Street 3rd Bone Spring Upper Wolfcamp Battery Park Middle Wolfcamp Lower Wolfcamp 150 40 Battery Park to Wall Street to City…
  28. Q3 2017 Presentation – EOG Resources, Inc. – slide 28
    Net Resource Potential 6.5 BnBoe* Roosevelt - Increased by 540 MMBoe With Introduction of First Bone Spring Northwest 6,885 Net Locations; 7,200 Laterals Shelf Chaves 143,000 Net Acres Average 13 Rigs Operating in 2017 Lea…
  29. Q3 2017 Presentation – EOG Resources, Inc. – slide 29
    346,000 Net Acres Prospective with Multiple Target Zones - 2,660 Net Wells NGLs 20% - Complete 110 Net Wells in 2017 vs. 71 in 2016 Oil Gas 53% Estimated Resource Potential 2.9 BnBoe,* Net to EOG 27% Oil Play - 226,000 Net…
  30. Q3 2017 Presentation – EOG Resources, Inc. – slide 30
    Second Bone Spring 289,000 Net Acres Prospective in Northern Delaware Basin NGLs 16% - 1,870 Net Wells; 850 Spacing - Complete 25 Net Wells in 2017 vs. 13 in 2016 Gas Oil 22% 62% Estimated Resource Potential 1.4 BnBoe,* Net to…
  31. Q3 2017 Presentation – EOG Resources, Inc. – slide 31
    Delaware Basin Wolfcamp Oil Wells Delaware Basin Second Bone Spring Wells Average Cumulative Production* Average Cumulative Production* (MBoe) (MBoe) 350 240 Thousands 2016 2016 300 2015 190 2015 250 200 140 150 90…
  32. Q3 2017 Presentation – EOG Resources, Inc. – slide 32
    Largest Oil Producer and Acreage Holder in the Eagle Ford FAYETTE - Average 8 Rigs Operating in 2017 San Antonio GUADALUPE - Complete 200 Net Wells in 2017 vs. 236 in 2016 BEXAR GONZALES LAVACA KINNEY UVALDE MEDINA…
  33. Q3 2017 Presentation – EOG Resources, Inc. – slide 33
    Eagle Ford West Wells Eagle Ford East Wells Average Cumulative Oil Production* Average Cumulative Oil Production* (Mbo) (Mbo) 175 175 2016 Thousands Thousands 2015 150 150 2014 2016 2013 125 2015 125 2014 2013 2012 100…
  34. Q3 2017 Presentation – EOG Resources, Inc. – slide 34
    Canada Complete 35 Net Wells in 2017 vs. 48 in 2016 State Line Stanley, ND Estimated Resource Potential 1.0 BnBoe* Bakken - 8,400 Lateral Lite Elm - 5.1 MM CWC** in 2016; Target 4.6 MM Coulee Bakken Core - 650 Spacing…
  35. Q3 2017 Presentation – EOG Resources, Inc. – slide 35
    Average 2 Rigs in Rockies in 2017 Powder River Basin PRB Core MT Exploration Powder River Basin Area Sheridan WY Crook PRB Turner Sand Identified as Premium Play - Testing 4,800 Column of Stacked Pay Campbell Weston Complete 35…
  36. Q3 2017 Presentation – EOG Resources, Inc. – slide 36
    Trinidad and Tobago Banyan & Osprey - Completed 2 Net Wells in 3Q 2017 TOBAGO - Initial Rates Greater Than 30 MMcfd ATLANTIC OCEAN - Complete 3 Additional Net Wells in 4Q 2017 TRINIDAD 4(a) Sercan Joint Development Project U(a)…

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