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1Q 2018 Earnings Presentation – Marathon Oil Corp

Marathon Oil Corp · May 3, 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. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 1
    First Quarter 2018 Financial and Operational Review May 2, 2018
  2. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 2
    Strong growth, guidance raised, budget unchanged Execution Resource Capture MRO avg. 398 MBOED ex- Captured a largely contiguous Libya position in emerging Louisiana Austin Chalk play…
  3. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 3
    Rate of Change on Corporate Performance Metrics 2.3B development capital budget unchanged, resource play growth up 2018 vs 2017 Metrics At 50 WTI At 60 WTI At 65 WTI CROIC1 improvement: 30% 50% 65% CFPDAS2 improvement: 10% 30%…
  4. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 4
    Total Company Cash Flow for 1Q18 2018 development capital budget remains unchanged at 2.3B Q1 not ratable due to higher working interest and non-op pace relative to remainder of 2018 Resource play leasing and exploration (REx) capex…
  5. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 5
    Strong Eagle Ford Results Expanding the Core Production Volumes and Wells to Sales 120 90 Production averaged 104 net MBOED; approximately flat to 4Q 2017 Co-Op Wells to Sales 80 60 MBOED 34 gross operated wells to sales…
  6. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 6
    Positive 1Q Results Across Eagle Ford Position Carpenter Kellner Labus Pitman 4 well pad 3 well pad Avg: 1,688 BOED (78% oil) Avg: 1,373 BOED (79% oil) 6,570 LL 4,800 LL Wilson Karnes Henke Unit B Zaeske Eckols Unit 3 well pad 2…
  7. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 7
    Bakken Delivering Record Wells Across the Basin Production Volumes and Wells to Sales Production averaged 74 net MBOED, up 7% from 4Q 2017 80 30 Operated Wells to Sales 60 11 gross operated wells to sales 20 MBOED 40…
  8. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 8
    Record Setting Bakken Performance Hector success continues to expand the core Sherman Pad Historic Middle Bakken Well Performance Mountrail June & Chauncey June & Chauncey 30-day avg: 4,480 BOED (77% oil) 3,500 Wilbur IP24 7,570…
  9. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 9
    Oklahoma Delivered 25% Sequential Oil Growth Production Volumes and Wells to Sales Production averaged 75 net MBOED; 80 30 up 17% from 4Q 2017; oil up 25% 17 gross operated wells to sales; 14 Co-Op Wells to Sales 60 20 were…
  10. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 10
    2018 Oklahoma Activity Dominated by Infill Drilling All remaining infills are over pressured STACK and SCOOP Olive June Blaine Kingfisher Ruthie Cerny Avg. IP30: 603 BOED (64% oil) Irven John 3 Meramec (660 spacing) Delineation…
  11. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 11
    Northern Delaware Production up 45% Sequentially Production Volumes and Wells to Sales Production averaged 16 net MBOED; up 45% 16 25 from 4Q 2017 20 Co-Op Wells to Sales 12 9 gross operated wells to sales MBOED 15 8 10…
  12. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 12
    Driving Efficiency and Accelerating Subsurface Learning Integrated workflows to support predictive modeling Malaga Drilling Efficiency 1,200 Malaga drilling performance improves 20% 1,000 Multi-well pad efficiencies and well design…
  13. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 13
    International E&P Highlights EG consistently delivering free cash flow World Class Gas Infrastructure International E&P production 114 net MBOED EGLNG Plant 2Q production guidance of 115 to 125 net MBOED 520-580MM of EG EBITDAX…
  14. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 14
    Strong Growth and Guidance Raised, Budget Unchanged United States Corporate Returns 9% BOED & BOPD 65% Sequential production growth 2018 improvement in CROIC1 Eagle Ford Bakken Financial Flexibility 1,615 BOED 2,600 BOPD…
  15. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 15
    Appendix
  16. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 16
    Volumes, Exploration Expenses & Effective Tax Rate 2018 (excluding Libya) 1Q 2Q 3Q 4Q Full Year United States Net Sales Volumes: - Liquid Hydrocarbons (MBD) 214 - Natural Gas (MMCFD) 420 - United States Total (MBOED) 284…
  17. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 17
    2018 Production Estimates Available for Sale Available for Sale 2QE Year Estimate United States Total (MBOED) 280 290 - Crude Oil (MBD) 160 170 International Total (MBOED) 115 125 - Crude Oil (MBD) 30 40 Total Segments (MBOED)…
  18. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 18
    2018 Estimates Year Estimate United States Cost Data Production Operating 4.75 5.75 DD&A 20.75 23.25 S&H and Other* 3.75 4.25 International Cost Data Production Operating 4.75 5.75 DD&A 4.25 5.75 S&H and Other* 1.25…
  19. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 19
    Production Performance U.S. Divestiture-Adj. Sales Volumes Intl Production & Sales Volumes 300 175 150 33 31 27 32 125 8 200 12 MBOED 100 MBOED 284 261 * 75 * 122 114 121 122 100 205 114 115 50 25 0 0 1Q…
  20. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 20
    2018 1Q Production Mix Eagle Ford Oklahoma 19% Total U.S. 28% Resource Plays 48% 20% 61% 24% 24% Crude Oil/Condensate 58% NGLs Bakken Northern Delaware 18% Natural Gas 8% 10% 18% 19% 63% 82% 21
  21. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 21
    United States Crude Oil Derivatives As of April 27, 2018 Crude Oil (Benchmark to NYMEX WTI) 2Q 2018 3Q 2018 4Q 2018 1Q 2019 2Q 2019 3Q 2019 4Q 2019 FY 2020 Three-Way Collars Volume (Bbls/day) 85,000 95,000 95,000 40,000 40,000 10,000…
  22. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 22
    United States Natural Gas Derivatives As of April 27, 2018 Natural Gas (Benchmark to NYMEX HH) 2Q 2018 3Q 2018 4Q 2018 Three-Way Collars Volume (MMBtu/day) 160,000 160,000 160,000 Weighted Avg Price per MMBtu: Ceiling 3.61 3.61…
  23. 1Q 2018 Earnings Presentation – Marathon Oil Corp – slide 23
    Capital, Investment & Exploration 2018 budget reconciliation MM 2018 Budget 2018 YTD Actual Cash additions to Property, Plant and Equipment 662 Working Capital associated with PPE (40) Property, Plant and Equipment additions 622…

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