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Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co.

Newfield Exploration Co. · Jan 10, 2018 · 26 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. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 1
    Goldman Sachs Global Energy Conference January 2018
  2. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 2
    Key Messages 1. Focused on value creation 2. Solid capital structure 3. Cash flow per share growth 4. Margin expansion 5. Best-in-class execution 6. Premier resource inventory in World-class Anadarko Basin 7. Moving to…
  3. Goldman Sachs Global Energy Conference 2018 – 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. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 4
    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…
  5. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 5
    Cash flow per share growth outpacing oil prices Cash flow per share growth outpacing WTI led by increased oil production1 Mbopd Disc CFPS WTI ( / bbl) 1.50 80 1.30 65.5 60 1.00 54.6 0.86 48 40 0.50 33 20 0.00 - Q1'16…
  6. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 6
    Anadarko Basin driving NFX margin expansion Margin LOE Transportation & Prod tax1 NFX asset margin Anadarko asset margin / boe / boe 30 30 28 25 20 19 23 19 4 5 2 2 6 5 4 5 2015 YTD 2017 2015 YTD 2017 % Anadarko…
  7. Goldman Sachs Global Energy Conference 2018 – 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. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 8
    World-class Anadarko Basin resource FORMATION Oswego/Big Newfield has 350,000 net acres in Anadarko Basin PENNSYLVANIAN Lime Multiple liquids-rich geologic horizons Atoka Robust source rock Morrow / Springer Largest and…
  9. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 9
    Top tier economics Single-Well Breakeven Prices ( / Bbl) 55 40 25 Note: Assumes 10% IRR, based on flat oil price of 50/bbl and gas price of 3/mmbtu Source: Analyst report 9
  10. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 10
    have sustained basin activity and production growth thru-cycle Horizontal SCOOP / STACK Production Production WTI Price WTI Price Mboe/d Oil Price Drop /Bbl 400 Price stability Lower commodity prices 120 Assessment Investment…
  11. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 11
    Newfield is moving to full-field development in STACK Executing a comprehensive Meramec pilot program Multiple vertical and horizontal spacing configurations being tested Selective placement across oil and volatile oil fluid…
  12. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 12
    STACK Velta June infill pilot 12-well spacing pilot in Meramec 4Q17e date of first production Play-leading, advanced technology development pilot: Fiber optics Borehole micro-seismic High resolution pressure monitoring Formation…
  13. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 13
    Appendix
  14. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 14
    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 --…
  15. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 15
    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…
  16. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 16
    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…
  17. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 17
    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…
  18. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 18
    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 -- --…
  19. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 19
    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 -- -- --…
  20. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 20
    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…
  21. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 21
    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…
  22. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 22
    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 --…
  23. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 23
    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…
  24. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 24
    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…
  25. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 25
    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…
  26. Goldman Sachs Global Energy Conference 2018 – Newfield Exploration Co. – slide 26
    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…

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