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4Q 2017 Earnings Conference Call – ConocoPhillips

ConocoPhillips · Feb 1, 2018 · 18 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. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 1
    4Q17 Earnings Conference Call FEBRUARY 1, 2018
  2. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 2
    R YA N L A N C E Chairman & CEO
  3. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 3
    Delivering on Our Disciplined, Returns-Focused Value Proposition 2017: Full Activation of our Plan 2018: Execute the Plan, Plus Portfolio reset; 16B dispositions; Maintain capital scope; Portfolio strong organic RRR1 bolt-on…
  4. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 4
    D O N WA L L E T T E EVP, Finance, Commercial & CFO
  5. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 5
    Strong Momentum on Improving Profitability Highlights Full-year 2017 adjusted earnings of 0.7B 540 Adjusted 4Q17 adjusted earnings benefited from improved Earnings realized prices, higher underlying production1, (MM) 198 and…
  6. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 6
    Strong Financial Position Entering 2018 4Q17 B 4Q17 Marker Prices Brent 61.39/BBL WTI 55.35/BBL Henry Hub 2.93/MMBTU 0.1 0.1 1.3 2.5 1.5 0.3 1.0 Includes Includes 0.2B 0.3B from from L48 Ecuador acreage settlement…
  7. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 7
    Focused on Free Cash Flow Generation and Delivering Priorities B 2017 Marker Prices Brent 54.27/BBL WTI 50.90/BBL Henry Hub 3.11/MMBTU 2.5B 10.9 FREE CASH FLOW 3.0 CFO1 exceeded capital expenditures and Buybacks investments by…
  8. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 8
    AL HIRSHBERG EVP, Production, Drilling & Projects
  9. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 9
    2017 Preliminary Reserve Replacement 200% organic reserve replacement ratio (1,904) (168%) 117% Total RRR replacement from net additions 431 6,424 Canada 67% 605 518 Lower 48 33% 5,038 4,520 YE 2016 Dispositions YE…
  10. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 10
    2017 Operating Highlights Strong operational and safety performance Delivered 3% underlying production growth1 for 4.6B of capital; 19% growth on a per debt-adjusted share basis Successfully activated Lower 48 Big 3 growth engine…
  11. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 11
    What to Watch For in 2018 Deliver with Discipline Production (MBOED) 5.5B capital plan unchanged 1,356 13% PRODUCTION PER DEBT- Expect 2018 full-year underlying production per debt-adjusted ADJUSTED share growth2 of 13% vs. 2017…
  12. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 12
    Question & Answer Session
  13. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 13
    Appendix
  14. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 14
    2017 Performance Company Cash Flow B 2017 Marker Prices Brent 54.27/BBL WTI 50.90/BBL Henry Hub 3.11/MMBTU 13.9 7.9 7.1 0.1 4.6 1.3 0.2 3.0 8.2 3.7 2017 Beginning CFO Excluding Total Working Disposition Debt Capital…
  15. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 15
    2018 Production Guidance Analyst and Investor Meeting 2018 Guidance 2018 Guidance 1,355 1,356 185 Dispositions 191 3 1,195 1,235 1,180 1,220 20 1,150 1,165 2017 2018E AIM 2017 2018E Production (MBOED) Production…
  16. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 16
    Full-Year 2018 Guidance Full-year 2018 production: 1,195 1,235 MBOED 1Q18 production: 1,180 1,220 MBOED Adjusted operating costs: 5.7B Capital expenditures: 5.5B DD&A: 5.8B Adjusted corporate segment net loss: 1.0B…
  17. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 17
    2018 Annualized Net Income Sensitivities Crude Brent/ANS: 105-125MM for 1/BBL change WTI: 45-55MM for 1/BBL change WCS: 10-15MM for 1/BBL change Does not incorporate contingent payment of CA6MM quarterly for every CA1 WCS price…
  18. 4Q 2017 Earnings Conference Call – ConocoPhillips – slide 18
    2018 Annualized Cash Flow Sensitivities Consolidated Operations Equity Affiliates1 (45-65/BBL WTI) (50-65/BBL WTI) Crude: Expect distributions from all equity affiliates at 50/BBL Brent/ANS: 100-110MM for 1/BBL change 1/BBL…

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