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The Power of The Permian – Pioneer Natural Resources Co.

Pioneer Natural Resources Co. · Nov 10, 2017 · 20 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. The Power of The Permian – Pioneer Natural Resources Co. – slide 1
    THE POWER OF THE PERMIAN 1
  2. The Power of The Permian – Pioneer Natural Resources Co. – slide 2
    PERMIAN BASIN TAKES GLOBAL STAGE Total Recoverable Resource (BBOE)1 0 20 40 60 80 100 120 140 160 Ghawar, Saudi Arabia Permian Basin, USA Produced To Date Midland Basin Delaware Basin Burgan, Kuwait Safaniyah, Saudi Arabia…
  3. The Power of The Permian – Pioneer Natural Resources Co. – slide 3
    IMPACT OF HORIZONTAL TECHNOLOGY IN THE MIDLAND BASIN Midland Basin Spraberry/Wolfcamp Production Spraberry/Wolfcamp production has increased 1,200,000 BOEPD since 2009 From 2009 to 2012, production growth primarily…
  4. The Power of The Permian – Pioneer Natural Resources Co. – slide 4
    THE TWO LARGEST U.S. OIL SHALE PLAYS Delaware Midland Midland Basin Delaware Basin Basin Basin 75 BBOE recoverable Estimates indicate resource potential similar resource Avalon Shale Clear Fork potential to the Midland Basin 1st…
  5. The Power of The Permian – Pioneer Natural Resources Co. – slide 5
    PERMIAN BASIN CONTINUES TO GROW Permian Basin is the only continuously growing major U.S. oil shale since downturn began 3.0 Nov. 2014 OPEC Decision Permian 2.5 Basin Million Barrels Oil Per Day 2.0 1.5 Eagle Ford 1.0…
  6. The Power of The Permian – Pioneer Natural Resources Co. – slide 6
    PERMIAN BASIN HORIZONTALS ARE A GAME CHANGER The Permian Basin has produced 35 BBOE in the past 90 years with an estimated 150 BBOE recoverable resource remaining 2.5 160 Permian Basin Tight Oil Production 140 Daily Oil…
  7. The Power of The Permian – Pioneer Natural Resources Co. – slide 7
    U.S. OIL PRODUCTION Average Monthly Oil Production Weekly Data Monthly Data 10.0 9.5 9.0 8.5 8.0 MMBOPD Hurricane 7.5 Impacts 7.0 6.5 6.0 5.5 5.0 4.5 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Source: EIA,…
  8. The Power of The Permian – Pioneer Natural Resources Co. – slide 8
    Horizontal Oil Rig Count Peak: 1,115 10/27/17: 630 +155% vs. bottom U.S. 10/27/17: 339 Peak: 349 +192% vs. bottom Bottom: 247 Permian Bottom: 116 Source: Baker Hughes 9
  9. The Power of The Permian – Pioneer Natural Resources Co. – slide 9
    W E L L P R O D U C T I V I T Y A N D B R E A K E V E N S C O N T I N U E TO I M P R O V E Midland Basin Delaware Basin Cumulative Oil (Mbbls) Cumulative Oil (Mbbls) Months Months 100 120 Breakeven (/bbl) Breakeven…
  10. The Power of The Permian – Pioneer Natural Resources Co. – slide 10
    OIL BREAKEVENS BY SHALE PLAY IN NORTH AMERICA 50 Breakeven Oil Price (/BBL) 40 30 20 10 - Midland Basin considered the top oil shale play in North America with a breakeven oil price of 24/BBL Source: Citi Research…
  11. The Power of The Permian – Pioneer Natural Resources Co. – slide 11
    NORT H A ME R ICA N SHA LE P LAY OIL BR E A K E VE NS BY C OMPA NY 50 Breakeven Oil Price (/BBL) 40 30 20 10 - Pioneers world-class Midland Basin acreage position drives industry leading breakeven oil price…
  12. The Power of The Permian – Pioneer Natural Resources Co. – slide 12
    EXTERNAL PERMIAN OIL GROWTH FORECASTS ARE ALL OVER THE BOARD Jefferies IHS Bentek Pira Goldman Citi Citi (Midstream) 60 Citi (Midstream) 50 Wells Fargo Parkman Whaling Bernstein RSEG 8,000 8,000 7,000 7,000 6,000 6,000…
  13. The Power of The Permian – Pioneer Natural Resources Co. – slide 13
    PERMIAN BASIN ACTIVITY REMAINS STRONG Net Horizontal Number of Company Resource Permian Growth (%) Rig Count Locations (BBOE) Pioneer 20 20,000+ 10 30% - 32% ExxonMobil 2030 in 2018 +7,000+ 6 45% through 2020 1 Apache 16…
  14. The Power of The Permian – Pioneer Natural Resources Co. – slide 14
    LARGEST US GAS PRODUCTION BY BASIN 30 Appalachia 25 Billion Cubic Feet Per Day 20 15 10 Permian Basin Haynesville Eagle Ford 5 - Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Source: EIA,…
  15. The Power of The Permian – Pioneer Natural Resources Co. – slide 15
    HAYNESVILLE SHALE GAS PRODUCTION 12 120 10 100 Billion Cubic Feet Per Day Horizontal Rig Count 8 80 6 60 Rig Count 4 40 2 20 Production - - Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Haynesville gas production…
  16. The Power of The Permian – Pioneer Natural Resources Co. – slide 16
    PERMIAN GAS GROWTH Permian gas production expected to grow 17% per year from 8.8 BCFPD today to 18 BCFPD by 2023 Source: Bernstein Research U.S. Natural Gas & MLPs (10/24/2017) 17
  17. The Power of The Permian – Pioneer Natural Resources Co. – slide 17
    PIONEER AT A GLANCE Largest Midland Basin (Spraberry/Wolfcamp) Active Drilling Areas acreage position with decades of oil drilling inventory 800 M gross acres with 20 M drilling locations Raton Low cost with high returns Low…
  18. The Power of The Permian – Pioneer Natural Resources Co. – slide 18
    E A R LY R E SU LT S FR OM 1 2 V E R SIO N 3 .0 + C O M P LE T IO N S E NC O U R A G ING North University Area: LSS Updated Hutt Area: Wolfcamp B Updated End October End October Version 3.0+: 3 wells in Q2 Version 3.0+: 3 wells in…
  19. The Power of The Permian – Pioneer Natural Resources Co. – slide 19
    JO MILL PERFORMANCE ENCOURAGING Jo Mill wells since Q4 2014 Updated End October Cumulative Production (MBOE)1 Jo Mill POP Locations 4 POPs during Q2 2017: 8,250 avg. lateral length Q3 Jo Mill POPs 5 POPs between Q4 2014 and…
  20. The Power of The Permian – Pioneer Natural Resources Co. – slide 20
    PIONEERS 10-YEAR VISION Targeting to grow production to 1+ MMBOEPD in 2026 Reflects organic compound annual production growth of 15%+ drilling high-return wells Growth driven by world-class Spraberry/Wolfcamp asset low cost with…

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