Skip to main content 4Q 2017 Operations Report – Devon Energy Corp Investor Presentation | Shale Experts
Loading...
Pm

4Q 2017 Operations Report – Devon Energy Corp

Devon Energy Corp · Feb 20, 2018 · 23 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 Operations Report – Devon Energy Corp – slide 1
    Q4 2017 Operations Report February 20, 2018 NYSE: DVN devonenergy.com Highlights & CEO Perspective 2 Q4 2017 Operating Results 9 Contents 2020 Vision: Strategic Priorities 3 Delaware Basin 11 2020 Vision: 3-Year Outlook 4 STACK…
  2. 4Q 2017 Operations Report – Devon Energy Corp – slide 2
    Highlights & CEO Perspective Three-Year Outlook 15% corporate-level rates of return CEO Perspective 2.5 billion of cumulative free cash flow through 2020 Devons Inflection Point Per-unit cash cost savings of 15 percent by 2020 Since…
  3. 4Q 2017 Operations Report – Devon Energy Corp – slide 3
    2020 Vision: Strategic Priorities TOP OBJECTIVES: OPTIMIZE RETURNS & DELIVER CAPITAL-EFFICIENT, CASH-FLOW GROWTH Maximize cash flow Leverage technology to optimize base production and aggressively reduce per-unit cash costs.…
  4. 4Q 2017 Operations Report – Devon Energy Corp – slide 4
    2020 Vision: 3-Year Outlook 3-YEAR PERFORMANCE TARGETS (1) (ASSUMING 50 WTI & 3 HENRY HUB) FREE CASH FLOW GENERATION ABOVE 50 WTI & 3 HH 25% CAGR DELAWARE + STACK OIL PRODUCTION MID-TEENS CAGR 15% PER-UNIT CASH 15%…
  5. 4Q 2017 Operations Report – Devon Energy Corp – slide 5
    2020 Vision: Management Incentives ALIGNING COMPENSATION WITH SHAREHOLDERS In an effort to further refine performance management within Devon, Additionally, the company will provide transparency to the results the company has…
  6. 4Q 2017 Operations Report – Devon Energy Corp – slide 6
    2018 Detailed Guidance Shift to Development Mode Drives Capital Efficiency Higher Key Messages In 2018, Devons E&P capital investment is expected to range from 2.2 to 2.4 billion (see table). Self-funded at 50 WTI Nearly 90% of the…
  7. 4Q 2017 Operations Report – Devon Energy Corp – slide 7
    2018 Detailed Guidance Q1 2018 Capital and Production Outlook Strategic Deployment of Excess Cash Devons E&P activity in Q1 is expected to result in 600 million of The companys top capital allocation priority in 2018 is to fund its…
  8. 4Q 2017 Operations Report – Devon Energy Corp – slide 8
    Q4 2017 Key Modeling Stats Q4 RESULTS Q4 GUIDANCE Q4 ACTUALS HEAVY OIL U.S. oil (MBbls/d) 120 - 125 114 Canada oil (MBbls/d) 135 - 140 132 Total NGLs (MBbls/d) 99 - 103 106 Total gas (MMcf/d) 1,184 - 1,216 1,175 Total (MBoe/d) 551 - 571…
  9. 4Q 2017 Operations Report – Devon Energy Corp – slide 9
    Q4 2017 Operating Results Timing of Non-Operated Activity Limits Volumes in Q4 Q4 2017 OIL VARIANCE (MBOD) Devons production averaged 548,000 Boe The timing of non-operated well tie-ins was per day in the fourth quarter (64%…
  10. 4Q 2017 Operations Report – Devon Energy Corp – slide 10
    Q4 2017 Operating Results Outstanding Operated Well Productivity in Q4 Drill-Bit Success Drives U.S. Oil Reserves 32% Higher Importantly, Devons operated wells in Q4 were delivered on plan and At Dec. 31, 2017, Devons proved reserves…
  11. 4Q 2017 Operations Report – Devon Energy Corp – slide 11
    Delaware Basin Delaware Production Highlights MBOED 85 Current daily rates 65 MBOED Exit rate growth of 40% in 2018 40% Production ramps at Anaconda 60 Record drilling times at Boomslang Wolfcamp drilling activity…
  12. 4Q 2017 Operations Report – Devon Energy Corp – slide 12
    Delaware Basin Production Ramps at Anaconda Multi-Zone Development Activity Building Momentum in 2018 A key driver of production growth in Q4 was In addition to the Anaconda project, Devon has 6 additional multi-zone developments that…
  13. 4Q 2017 Operations Report – Devon Energy Corp – slide 13
    Delaware Basin Record Drilling Efficiencies at Boomslang Wolfcamp Activity Advances in World-Class Rattlesnake Area Another key multi-zone project is the 11-well Devon also continues to advance its initial Wolfcamp multi-zone…
  14. 4Q 2017 Operations Report – Devon Energy Corp – slide 14
    Delaware Basin Multi-Zone Projects Progressing as Planned Future Projects Accelerated by Innovative Permitting Strategy In addition to the Boomslang and Seawolf projects (discussed on page 13), Devon has several other multi-zone…
  15. 4Q 2017 Operations Report – Devon Energy Corp – slide 15
    STACK Meramec Oil Window Delivers Outstanding Well Results in Q4 Highlights In Q4, top-line production in the STACK increased 33% compared to the year-ago period. The Current daily rates 130,000 BOED most significant growth was…
  16. 4Q 2017 Operations Report – Devon Energy Corp – slide 16
    STACK Activity Shifting to Meramec Oil Window Full-Field Development Accelerates: 7 Projects Scheduled for 2018 Devon expects to invest 700 million of As Devons STACK assets transition from appraisal to full-field development, an…
  17. 4Q 2017 Operations Report – Devon Energy Corp – slide 17
    STACK Drilling Efficiencies Reach 30% at Showboat Showboat Completion Activity Underway Devons initial multi-zone STACK The rig productivity represents a 30% In early February, completion activity began development, the Showboat…
  18. 4Q 2017 Operations Report – Devon Energy Corp – slide 18
    STACK The Prestigious 4000 Club Best-In-Class STACK Position: Ownership in 90% of Top 50 Wells The companys strong operated well Devon has the premier STACK position in the industry with 600,000 net acres by formation in productivity…
  19. 4Q 2017 Operations Report – Devon Energy Corp – slide 19
    Rockies POWDER RIVER BASIN ACTIVITY Highlights Production advances 26% in Q4 Turner spacing tests online Super Mario activity accelerates in 2018 Niobrara delineation activity underway Super Mario Highlights Q4 Activity…
  20. 4Q 2017 Operations Report – Devon Energy Corp – slide 20
    Rockies 2018 Outlook: Super Mario Area Builds Momentum Niobrara Appraisal Underway In 2018, Devon expects its capital investment in the Rockies to be 150 million and expects to Devon possesses significant upside potential spud 20 new…
  21. 4Q 2017 Operations Report – Devon Energy Corp – slide 21
    Cash Flow Generating Assets Summary Devon possesses top-tier cash flow generating assets in North HEAVY OIL America (see graphic) and the companys strategy with these assets is two-fold: 1) Efficiently manage base production and…
  22. 4Q 2017 Operations Report – Devon Energy Corp – slide 22
    Cash Flow Generating Assets Heavy Oil Attractive WCS Hedges Underpin Strong Cash Flow in 2018 2018e CASH FLOW (MM) For 2018, Devon expects net production to range from 127,000 to 133,000 Boe per day. The Upstream Revenue 1,000…
  23. 4Q 2017 Operations Report – Devon Energy Corp – slide 23
    Cash Flow Generating Assets Barnett Shale Johnson County Divestiture Package Progressing Net production averaged 149,000 Boe per day or 894 MMcfe per day To bring forward value in the Barnett Shale, Devon is working toward during Q4.…

From the store

Browse maps, data & reports in the Shale Experts store