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November 2017 Investor Presentation – Devon Energy Corp

Devon Energy Corp · Nov 15, 2017 · 24 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. November 2017 Investor Presentation – Devon Energy Corp – slide 1
    Investor Presentation November 2017 NYSE: DVN devonenergy.com
  2. November 2017 Investor Presentation – Devon Energy Corp – slide 2
    Devons Competitive Advantage STACK & Delaware focused Top-tier operating results Multi-decade growth platform Innovative culture 30,000 STACK & DELAWARE POTENTIAL LOCATIONS Significant financial strength Investor…
  3. November 2017 Investor Presentation – Devon Energy Corp – slide 3
    Devons 2020 Vision Focus on Deliver top-tier returns on invested capital financial returns Return cash to shareholders Advance STACK & Delaware activity Further high-grade Monetize less competitive assets asset portfolio…
  4. November 2017 Investor Presentation – Devon Energy Corp – slide 4
    2017 Capital Program Disciplined focus on value and returns 2 0 1 7 e E & P C A P I T A L 2.0-2.1 Billion Capital program funded within cash flow U.S. Rig Activity (20 development rigs in Q4) 10% OTHER Shifting to full-field…
  5. November 2017 Investor Presentation – Devon Energy Corp – slide 5
    Expanding High-Returning Oil Production Rapidly growing highest-value product U.S. Oil Production MBOD +20% (vs. Q4 16) +15% Driven by STACK & Delaware Basin (vs. Q4 16) 102(1) Building operational momentum into 2018 Q4…
  6. November 2017 Investor Presentation – Devon Energy Corp – slide 6
    Preliminary 2018 Outlook 2 0 1 8 e E & P C A P I TA L S TA C K & D E L AWA R E (2017 VS 2018) 2.0-2.5 Billion OPTIMIZED FOR RETURNS 30% INCREASE FUNDED WITHIN O P E R AT I N G C A S H F L O W OIL GROWTH TA R G E T I N G…
  7. November 2017 Investor Presentation – Devon Energy Corp – slide 7
    Significant Financial Strength Investment-grade credit ratings PROTECTING OUR ABILITY TO EXECUTE Disciplined Disciplined hedging program Hedging Q4 17:65% 1H 18:40% Excellent Liquidity Significant investment in EnLink Midstream…
  8. November 2017 Investor Presentation – Devon Energy Corp – slide 8
    Operational Excellence Capture Improve FULL VALUE RETURNS Maximize base production Optimize capital program Minimize controllable downtime Disciplined project execution Enhance well productivity Perform premier technical work…
  9. November 2017 Investor Presentation – Devon Energy Corp – slide 9
    Top-Tier Operating Performance Best-in-class well productivity DEVON WELL ACTIVITY Avg. 90-Day Wellhead IPs BOED, 20:1 400% 1,000 (Since 2012) 800 I M P R O V E M E N T 600 400 200 Peers Source: IHS/Devon. Top…
  10. November 2017 Investor Presentation – Devon Energy Corp – slide 10
    The Next Frontier Of Efficiency Gains Multi-zone manufacturing strategy underway Leading-edge development concept Debundling supply chain drives costs lower Massive technology upside remains ANACONDA MULTI-ZONE PROJECT 1…
  11. November 2017 Investor Presentation – Devon Energy Corp – slide 11
    Innovation Momentum - Technology Projects In Flight DRILLING & PRODUCTION WAT E R S U B S U RFAC E COMPLETIONS O P E R AT I O N S MANAGEMENT C O R P O R AT E Improved 3D seismic Cyber-geosteering Predictive pump failures…
  12. November 2017 Investor Presentation – Devon Energy Corp – slide 12
    STACK Franchise Asset Kingfisher Blaine Best-in-class acreage position Showboat Sonoyta Drilling Underway (24 wells) 670k net acres by formation Coyote Drilling Underway (7 wells) Sidney Privott Up to 4 target intervals per…
  13. November 2017 Investor Presentation – Devon Energy Corp – slide 13
    STACK Multi-Decade Growth Platform Best-in-class well results High-returning production growth STACK Avg. 90-Day Wellhead IPs Per 1,000 Lateral MBOED 120 BOED, 20:1 111 160 105 120 70% VS. PEER AVG. 95 70% 88 80 35% VS. Q4…
  14. November 2017 Investor Presentation – Devon Energy Corp – slide 14
    Showboat: Initial Multi-Zone STACK Project 5-rig drilling program underway Kingfisher Showboat Drilling Underway (24 wells) Co-developing 4 target intervals 5 operated rigs (2 drilling units) Project consists of 24 wells…
  15. November 2017 Investor Presentation – Devon Energy Corp – slide 15
    Delaware Basin Franchise Asset POTATO BASIN World-class oil opportunity Medusa TODD Q4 17 Spud (20 wells) Cobra Spud Muffin Tomb Raider Multi-decade growth platform Anaconda Flowing Back (10 wells) Boomslang Completing (11…
  16. November 2017 Investor Presentation – Devon Energy Corp – slide 16
    Delaware Basin Multi-Decade Growth Platform Basin Slope 1 Section 1 Section 6,500 DELAWARE Madera SANDS Lower Brushy A RISKED LOCATIONS LEONARD B 4,000 C 1.3 MM OF PAY 1st BONE SPRING 2nd…
  17. November 2017 Investor Presentation – Devon Energy Corp – slide 17
    Anaconda: Initial Multi-Zone Delaware Project THISTLE/GAUCHO Co-developing 3 Leonard shale intervals TODD Achieved savings of 1 MM per well (20%) Lea Anaconda Peak rates: Q4 17 Early flow rates are positive Anaconda…
  18. November 2017 Investor Presentation – Devon Energy Corp – slide 18
    Devons Competitive Advantage STACK & Delaware focused Top-tier operating results Multi-decade growth platform Innovative culture 30,000 STACK & DELAWARE POTENTIAL LOCATIONS Significant financial strength Investor…
  19. November 2017 Investor Presentation – Devon Energy Corp – slide 19
    Cash-Flow Generating Assets HEAVY OIL 35% 15% ENLINK HEAVY OIL 2.2B (1) CASH FLOW 2017e 30% 20% BARNET T EAGLE FORD BARNETT (1) Represents field-level cash flow before G&A and taxes EAGLE FORD Investor…
  20. November 2017 Investor Presentation – Devon Energy Corp – slide 20
    Rockies An Emerging Oil Growth Asset Premier Powder River Basin position POWDER RIVER BASIN ACTIVITY Q3 net production: 16 MBOED (80% oil) 400,000 net surface acres Stacked pay: 10 prospective intervals Initial Super Mario…
  21. November 2017 Investor Presentation – Devon Energy Corp – slide 21
    STACK Resource STACK RESOURCE GROSS RISKED GROSS UNRISKED FORMATION WINDOW NET ACRES LOCATIONS LOCATIONS Over-Pressured Oil 130,000 1,700 3,000 Meramec Liquids-Rich Gas 150,000 TBD 1,000 280,000 1,700 4,000 Condensate Corridor…
  22. November 2017 Investor Presentation – Devon Energy Corp – slide 22
    Delaware Basin Resource DELAWARE BASIN RESOURCE NET EFFECTIVE GROSS RISKED GROSS UNRISKED FORMATION ACRES LOCATIONS LOCATIONS Delaware Sands 160,000 600 1,500 Leonard Shale 160,000 1,000 3,500 Bone Spring 530,000 3,200 6,000…
  23. November 2017 Investor Presentation – Devon Energy Corp – slide 23
    Johnson County Divestiture Package Massive position in core of the Barnett Net acres: 610,000 Wise Denton Q3 net production: 148 MBOED (25% liquids) Denton Pursuing divestiture for Johnson County area Tarrant Parker 30 MBOED…
  24. November 2017 Investor Presentation – Devon Energy Corp – slide 24
    Hedge Position As of 10/27/17 OIL DERIVATIVES SWAPS COLLARS COMBINED VOLUME WEIGHTED VOLUME WEIGHTED AVG. WEIGHTED AVG. PERIOD VOLUME PROTECTED PERIOD (MBPD) AVG. PRICE (MBPD) FLOOR PRICE CEILING PRICE (MBPD) PRICE (/BBL) (/BBL)…

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