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Scotia Howard Weil 2018 Energy Conference – Marathon Oil Corp

Marathon Oil Corp · Mar 26, 2018 · 15 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. Scotia Howard Weil 2018 Energy Conference – Marathon Oil Corp – slide 1
    Scotia Howard Weil Energy Conference Lee Tillman President & Chief Executive Officer March 26, 2018
  2. Scotia Howard Weil 2018 Energy Conference – Marathon Oil Corp – slide 2
    Key Messages Exceeded 2017 production guidance within cash flow including dividend at 51 WTI; sold Canadian Oil Sands & acquired Northern Delaware Self-funding 2018 development capital at 50 WTI including dividend; 500MM…
  3. Scotia Howard Weil 2018 Energy Conference – Marathon Oil Corp – slide 3
    Rate of Change on Corporate Performance Metrics 2018 vs 2017 Metrics At 50 WTI At 60 WTI CROIC1 improvement: 30% 50% CFPDAS2 improvement: 10% 30% Total production Boe growth: 10 - 14% Oil growth: 16 - 20% Resource play…
  4. Scotia Howard Weil 2018 Energy Conference – Marathon Oil Corp – slide 4
    Successful Portfolio Transformation Continues 7 Country exits since 2013 4.2B in divestitures Since 2016 Libya 450MM Shift to lower cost, higher margin U.S. Simplifying & concentrating resource plays portfolio Oil Sands Mining*…
  5. Scotia Howard Weil 2018 Energy Conference – Marathon Oil Corp – slide 5
    Transformation Drives Mix Shift and Margin Uplift U.S. Resource Plays % of Total Production Mix* U.S. resource plays production contribution up significantly from % U.S. Resource Plays +20% 2015 70% Production % increasing…
  6. Scotia Howard Weil 2018 Energy Conference – Marathon Oil Corp – slide 6
    90% 2018 Development Capital to U.S. Resource Plays 2018 Development Capital Budget 2018 Overview 2.3B Disciplined capital program balances returns and strategic objectives with growth as an outcome Bakken 2.3B Development Capital…
  7. Scotia Howard Weil 2018 Energy Conference – Marathon Oil Corp – slide 7
    Eagle Ford Sets Execution Standard 2018 Capex: 710MM 2017 Highlights D&C Co-Op 12% D&C Non-Op 180d cumulative well production increased 4% Facilities & Other 20% from 2016 Set avg. single well drilling pace record with 4,200…
  8. Scotia Howard Weil 2018 Energy Conference – Marathon Oil Corp – slide 8
    Atascosa Results Yield Improved Returns Q4 2017 wells & upcoming Q1 2018 activity Labus Pittman Challenger Unit C 4 well pad 7 well pad Avg: 1,969 BOED (92% oil) Avg: 1,698 BOED (90% oil) 5,200 LL 5,500 LL Carpenter Kellner 4 well…
  9. Scotia Howard Weil 2018 Energy Conference – Marathon Oil Corp – slide 9
    High Confidence Bakken Delivers Strong Returns 2018 Capex: 590MM 2017 Highlights D&C Co-Op 180d cumulative well production increased 6% D&C Non-Op 9% Facilities & Other 40% from 2016 Top tier drilling efficiency Early Hector…
  10. Scotia Howard Weil 2018 Energy Conference – Marathon Oil Corp – slide 10
    Bakken Best in Basin Performance Continues Hector success expanding the core Historic Industry Middle Bakken Well Performance Mountrail 3,000 2,500 Myrmidon 30 -day IP (BOPD) 2,000 McKenzie 1,500 1,000 Big Head Pad 1 well…
  11. Scotia Howard Weil 2018 Energy Conference – Marathon Oil Corp – slide 11
    Oklahoma 2018 Focus on Overpressured STACK 2018 Capex: 410MM 2017 Highlights D&C Co-Op Production increased 54% from 2016 19% D&C Non-Op Consistent outperformance of STACK volatile Facilities & Other oil wells Successful 1st STACK…
  12. Scotia Howard Weil 2018 Energy Conference – Marathon Oil Corp – slide 12
    Multi-well Pads Comprise 80% of 2018 Drilling Program 7 STACK Meramec Blaine Kingfisher infill pilots 1 STACK Meramec / Woodford infill pilot Canadian Grady Caddo 2 SCOOP Woodford Garvin Wet Gas infill pilots…
  13. Scotia Howard Weil 2018 Energy Conference – Marathon Oil Corp – slide 13
    Building Northern Delaware Momentum 2018 Capex: 380MM D&C Co-Op 2017 Highlights 5% D&C Non-Op Doubled production since mid-year close 11% Facilities & Other Avg. IP30s from 11 wells in 4Q of 1,835 BOED Drilling costs down 20%…
  14. Scotia Howard Weil 2018 Energy Conference – Marathon Oil Corp – slide 14
    Strong Malaga-Focused 4Q17 in Northern Delaware 1Q18 activity in Red Hills, Ranger and Malaga Ranger Arrowhead China Draw Q4 2017 11 Wells to sales Ranger Q1 2018 (8 pads) 1 Well to Sales Avg: 1,835 BOED Malaga Q1…
  15. Scotia Howard Weil 2018 Energy Conference – Marathon Oil Corp – slide 15
    Returns-Driven 2018 Development Capital Program Concentrated Capital Allocation Capital allocation drives corporate returns resulting in Resource Plays strong oil growth 90% Self-funding at 50 WTI including dividend 500MM…

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