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March 2018 Investor Presentation – Devon Energy Corp

Devon Energy Corp · Mar 8, 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. March 2018 Investor Presentation – Devon Energy Corp – slide 1
    Investor Presentation March 2018 NYSE: DVN devonenergy.com
  2. March 2018 Investor Presentation – Devon Energy Corp – slide 2
    Devons Competitive Advantage Delaware & STACK focused Top-tier operating results Multi-decade growth platform Disciplined capital allocation 30,000 DELAWARE & STACK POTENTIAL LOCATIONS Significant financial strength Investor…
  3. March 2018 Investor Presentation – Devon Energy Corp – slide 3
    2020 Vision: Strategic Principles TOP OBJECTIVE: OPTIMIZE RETURNS & DELIVER CAPITAL-EFFIECENT, CASH-FLOW GROWTH Maximize cash flow Leverage technology to optimize base production and aggressively reduce per-unit cash costs.…
  4. March 2018 Investor Presentation – 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 15% 15% MID-TEENS CAGR PER-UNIT CASH COST…
  5. March 2018 Investor Presentation – Devon Energy Corp – slide 5
    2020 Vision: Management Compensation RETURN MEASURE 1 CASH RETURN ON CAPITAL EMPLOYED Cash Flow from Operations + After-tax Interest Expense + EnLink Distributions TA R G E T = Average Book Equity + Average Net Debt 20% RETURN…
  6. March 2018 Investor Presentation – Devon Energy Corp – slide 6
    2018 Capital & Production Outlook FOCUSED DEVELOPMENT OPTIMIZED FOR RETURNS OIL GROWTH PROGRAM S E L F F U N D E D AT 2 0 1 8 e E & P C A P I TA L D E L AWA R E & S TAC K 50 WTI 2.2-2.4 Billion 35% Increase N O P L A N S TO I N C…
  7. March 2018 Investor Presentation – Devon Energy Corp – slide 7
    Significant Financial Strength PROTECTING OUR ABILITY Investment-grade credit ratings TO EXECUTE Excellent Up to 1.5 billion debt reduction in 2018 Liquidity Cash: 2.7B EnLink Investment Market Value: 3.2B Disciplined hedging…
  8. March 2018 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. March 2018 Investor Presentation – Devon Energy Corp – slide 9
    Innovation Momentum - Technology Projects In Flight DRILLING & PRODUCTION WAT E R SUBSURFACE 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 Water-treatment…
  10. March 2018 Investor Presentation – Devon Energy Corp – slide 10
    The Next Frontier Of Efficiency Gains Multi-zone manufacturing strategy underway 10 multi-zone projects scheduled in 2018 Initial results encouraging 1 million savings per well at Anaconda project MULTI-ZONE 30% drilling…
  11. March 2018 Investor Presentation – Devon Energy Corp – slide 11
    Certainty Of Execution Efficiencies at multi-zone projects to offset 2 0 1 8 C A P I T A L P R O G R A M industry inflation Services and supplies secured in 2018 Efficiencies to drive rig reductions SERVICES & SUPPLIES Delaware…
  12. March 2018 Investor Presentation – Devon Energy Corp – slide 12
    Delaware Basin Franchise Asset POTATO BASIN World-class oil opportunity TODD Medusa Drilling Cobra Tomb Raider Multi-decade growth platform Spud Muffin Anaconda 10 Wells Online Boomslang Up to 15 target intervals Flowing Back…
  13. March 2018 Investor Presentation – Devon Energy Corp – slide 13
    Delaware Basin Multi-Zone Projects Ramping Up Anaconda project online THISTLE/GAUCHO Initial multi-zone project Anaconda 10 Wells Online Achieved savings of 1 MM per well Lea Boomslang 30-day rates: 1,600 BOED per well Eddy…
  14. March 2018 Investor Presentation – Devon Energy Corp – slide 14
    Delaware Basin Multi-Decade Growth Platform Most active asset in 2018 High-returning production growth Production (MBOED) 85 725 MM E&P CAPITAL 60 40% 100 WELLS ONLINE EXIT RATE GROWTH Q4 2017 Q1 2018e Q2 2018e Q3 2018e Q4…
  15. March 2018 Investor Presentation – Devon Energy Corp – slide 15
    Delaware Basin Significant Resource Opportunity Basin Slope 1 Section 1 Section 300,000 DELAWARE Madera SANDS Lower Brushy A NET SURFACE ACRES LEONARD B 4,000 C 1.3 MM OF PAY 1st BONE SPRING…
  16. March 2018 Investor Presentation – Devon Energy Corp – slide 16
    STACK Franchise Asset Kingfisher Blaine Best-in-class acreage position Showboat Completing (24 wells) Minnie Haha 600k net acres by formation Coyote Cascade Completing (7 wells) 2018 Spud (7 wells) Kraken Up to 4 target…
  17. March 2018 Investor Presentation – Devon Energy Corp – slide 17
    STACK Multi-Zone Results Encouraging Showboat drilling concluded Blaine Kingfisher 30% drilling efficiencies reached Coyote Showboat (2 drilling units) Average cost savings: 500k per well Completing (7 wells) Completing (24…
  18. March 2018 Investor Presentation – Devon Energy Corp – slide 18
    STACK Multi-Decade Growth Platform Activity shifting to economic core High-returning production growth Production (MBOED) 140 (40% oil growth) WOODFORD MERAMEC ACTIVIT Y 95% 117 111 105 E&P CAPITAL 95 2018e Q1 2017 Q2 2017…
  19. March 2018 Investor Presentation – Devon Energy Corp – slide 19
    Devons Competitive Advantage Delaware & STACK focused Top-tier operating results Multi-decade growth platform Disciplined capital allocation 30,000 DELAWARE & STACK POTENTIAL LOCATIONS Significant financial strength Investor…
  20. March 2018 Investor Presentation – Devon Energy Corp – slide 20
    Thank you. For additional information see our Q4 Operations Report Thank you.
  21. March 2018 Investor Presentation – Devon Energy Corp – slide 21
    Cash-Flow Generating Assets HEAVY OIL 35% 15% ENLINK HEAVY OIL 2.3B (1) CASH FLOW 2017 30% 20% BARNET T EAGLE FORD BARNETT (1) Represents field-level cash flow before G&A and taxes. EAGLE FORD Investor…
  22. March 2018 Investor Presentation – Devon Energy Corp – slide 22
    Rockies An Emerging Oil Growth Asset POWDER RIVER BASIN ACTIVITY Premier Powder River Basin position Q4 net production: 19 MBOED 400,000 net surface acres Stacked pay: 10 prospective intervals Super Mario Turner activity…
  23. March 2018 Investor Presentation – Devon Energy Corp – slide 23
    Hedge Position As of 12/31/17 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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