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TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp

Chesapeake Energy Corp · May 16, 2018 · 26 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. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 1
    TPH HOTTER N HELL ENERGY CONFERENCE May 16, 2018
  2. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 2
    STRATEGY AND GOALS Our strategy remains unchanged resilient to commodity price volatility Financial discipline STRATEGIC GOALS Profitable and efficient growth from captured resources 1 Debt reduction Exploration of 2 3 billion…
  3. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 3
    1Q18 FINANCIAL AND OPERATIONAL RESULTS (1) (1) (2) 48% increase YOY 40% increase YOY 27% increase YOY (4) 11% increase YOY (3) 16% increase YOY (3) 5% increase YOY (1) See non-GAAP reconciliation on pages 24 and 25…
  4. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 4
    WY POWDER RIVER GROWING TO A CORE ASSET 45% oil, 60% liquids Oil growth engine Equivalent Net Volume (mboe/d) Over 80% oil growth YOY 35 Ramping up activity 30 Currently running four rigs 25 Stacked pay opportunities…
  5. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 5
    WY POWDER RIVER TURNER CUM BOE vs Producing Months Industry Turner Offsets 500,000 CHK Turner Producers 400,000 Cumulative boe 300,000 200,000 100,000 0 0 2 4 6 8 10 12 Producing Months Running…
  6. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 6
    WY POWDER RIVER TURNER SPACING UPDATE Linden six well spacing test South laterals at 1,980' spacing North laterals at 2,300' spacing Current average rate 750 bo/day and 5.9 mmcf/day (1,750 boe/day) Average FTP 2,750 psi…
  7. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 7
    WY TURNER CONTINUOUS IMPROVEMENT Drilling improvements Turner Capital Performance(1) /lateral ft Extending laterals 2,500 Batch drilling Slim hole casing design 2,000 Drilling days from 60+ to 21 Capital Costs (/lat.…
  8. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 8
    POWDER RIVER GO FORWARD Q2 2018 3 4 rigs Parkman 205 mmboe resource base 11 spuds (100% Turner) 425+ undrilled locations 1,980' spacing 12 TILs Sussex Turner spacing test TIL (Linden) 67 mmboe resource base Parkman E core 72…
  9. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 9
    SOUTH TEXAS CONTINUES TO DELIVER TX 4 5 rig program in 2018 Equivalent Net Volume (mboe/d) 140 Stacked pay potential 120 Upper Eagle Ford and Austin Chalk provide additional resource potential 100 Improved oil recovery…
  10. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 10
    MID-CON STACKED PAY POTENTIAL OK Oil growth potential Oswego provides low-cost, high-return oil Appraising new plays Equivalent Net Volume (mboe/d) 70 60 50 40 28%30oil, 46% liquids 20 10 0 Q1 Q2 Q3 Q4 Q1…
  11. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 11
    OSWEGO DELIVERING STRONG RESULTS OK Moving to extended laterals and multiwell pads Oswego Gross Oil Production (Average mbo/d) 14 76 wells producing, average D&C cost of 3.6 million 12 10 Continue to grow our position,…
  12. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 12
    GULF COAST DEEP HIGH-QUALITY INVENTORY LA Acreage position is 100% HBP, Equivalent Net Volume (mboe/d) 25% developed ideal for long 175 lateral development 150 Completions breakthrough is scalable across entire acreage…
  13. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 13
    UTICA FOCUSED ON VALUE OH Two-rig program in 2018 Equivalent Net Volume (mboe/d) 10% increase in projected 2018 gas 140 production with reduced capex, driving 120 more value into the program 100 Oil performance has improved…
  14. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 14
    UTICA WET GAS IMPROVEMENTS OH Oil Rate 800 40% improvement IP30: Oil Rate, Bopd 600 in IP30 due to completion design 400 200 0 2014 2015 2016 2017 2018YTD Original Design New Design Equivalent Rate 2,000…
  15. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 15
    MARCELLUS FREE CASH FLOW ENGINE PA Powerhouse shale gas asset Equivalent Net Volume (mboe/d) 75% ROR(1) 2018 program 150 Technology driving greater value Working additional market opportunities 125 Growth potential and…
  16. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 16
    TRANSFORMATION DELIVERING INCREASED MARGINS Cash cost leadership 30 Efforts to attack GP&T yielding positive results 25 Continued focus on delivering 20 value vs. volume /boe 15 10 5 0 Revenue / Boe Adj.…
  17. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 17
    RETURN ON CAPITAL 25% 45.00 Wtd Avg Revenue/boe 40.00 20% OCF/Net Debt+Equity 35.00 30.00 Return on Capital Revenue / boe 15% 25.00 20.00 10% 15.00 10.00 5% 5.00 0% 0.00 2012 2013 2014 2015 2016 2017…
  18. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 18
    APPROACHING FREE CASH FLOW NEUTRALITY Free Cash Flow 5,600 3,000 5,000 Excluding Asset Sales 2,000 Including Asset Sales 1,000 millions 2012 2015 2016 2017 2018E 0 2013 2014 -1,000 -2,000 -11,000…
  19. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 19
    CHESAPEAKE ENERGY: THE UNCONVENTIONAL LEADER A Transformed Company Leadership attributes Capital efficiency Operational excellence Portfolio depth Technology EH&S excellence Undervalued currency TPH Hotter N Hell Energy…
  20. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 20
    Appendix TPH Hotter N Hell Energy Conference 21
  21. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 21
    HEDGING POSITION AS OF 4/27/18 Natural Gas Oil NGL 2018 2018 2018 6% 6% 14% NGL Collars Collars Swaps 3.00/3.25/mcf 39.15/47/55/bbl HH WTI 57% 72% Swaps 2.96/mcf Swaps 53.78/bbl HH WTI 19% Propane Swaps 0.79/gal 1%…
  22. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 22
    DEBT MATURITY PROFILE 2018 OUTLOOK (1) 9.2 billion 7.10% 200 million Senior Notes & Term Loan WACD Revolving Credit Facility 3,000 Revolving Credit Facility Secured 2,500 Unsecured 2,047 Convertibles 2,000 1,868 1,500…
  23. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 23
    RECONCILIATION OF ADJUSTED NET INCOME AVAILABLE TO COMMON STOCKHOLDERS ( in millions except per share data) (unaudited) Three Months Ended March 31, 2018 2017 /Share(b)(c) /Share(b)(c) Net income (loss) available to common…
  24. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 24
    RECONCILIATION OF ADJUSTED EBITDA CHESAPEAKE ENERGY CORPORATION RECONCILIATION OF ADJUSTED EBITDA ( in millions) (unaudited) Three Months Ended March 31, 2018 2017 EBITDA (Non-GAAP) 703 455 Adjustments: Unrealized losses…
  25. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 25
    RECONCILIATION OF FREE CASH FLOW CHESAPEAKE ENERGY CORPORATION RECONCILIATION OF FREE CASH FLOW DATA ( in millions) (unaudited) Three Months Ended March 31, 2018 2017 Net cash provided by operating activities 656 99 Cash flows…
  26. TPH Hotter N Hell Energy Conference – Chesapeake Energy Corp – slide 26
    CORPORATE INFORMATION HEADQUARTERS PUBLICLY TRADED SECURITIES CUSIP TICKER 7.25% Senior Notes due 2018 165167CC9 CHK18A 6100 N. Western Avenue Oklahoma City, OK 73118 3mL + 3.25% Senior Notes due 2019 165167CM7 CHK19 WEBSITE: www.chk.com…

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