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UBS Global Oil and Gas Conference – Newfield Exploration Co.

Newfield Exploration Co. · May 22, 2018 · 30 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. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 1
    2018 UBS Global Oil and Gas Conference Gary D. Packer Executive Vice President & COO
  2. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 2
    NFX is Positioned to be an E&P Winner We have: Operational Scale and Quality Assets Capital Discipline and Self- Sustaining Growth Strong Margins, Debt-Adjusted Growth A Proven Track Record of Execution 2
  3. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 3
    YTD Highlights: Delivering On Our Plan We are on track to deliver our 2018 guidance and 3YR Plan 1Q18 domestic net production up 25% Y-o-Y: 173,600 BOEPD (41% oil, 61% liquids) RECORD 1Q18 Anadarko net production up 34% Y-o-Y:…
  4. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 4
    Strong Domestic Production Driven by Anadarko Basin Increased 2018E domestic production expectations based on strong 1Q results (ahead of 3YR Plan objectives) Raised Anadarko Basin 2018E guidance based on strong well performance On…
  5. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 5
    Anadarko Basin Driving Value 1,000,000 total net effective reservoir acres Plan to complete 140-160 wells in 2018 80% of total D&C 20-25% estimated production growth YOY 25-30% estimated oil growth YOY Continued focus on…
  6. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 6
    Operated Meramec Development Supports 3YR Plan 350 Development Projects In-Line / Above 3YR Plan TC 300 AVG. CUMULATIVE MBOE 250 200 150 100 STARK - 10 WELL INFILL 50 AVG. GPI: 9,953 REACHED PAYOUT in 12 MONTHS 0 0 2 4…
  7. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 7
    Velta June Project Providing Key Learnings Utilizing emerging technologies to unlock new opportunities and optimize resource development DNA sequencing Fiber Optics Fracture image logs Borehole microseismic Proppant and fluid…
  8. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 8
    Driving STACK Efficiencies Through Operational Leadership Completion Cost (/bbl)* Drilling Cost (/GPI) 500 15 2017 Peer Average 450 13 400 2017 Peer Average 11 350 9 300 7 250 5 200 2016 NFX 2017 NFX 2016 NFX 2017…
  9. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 9
    Proactive Marketing Unlocking 1Q18 Premium Realizations Anadarko Basin crude receiving 1Q18 Crude 1Q18 NGL 1Q18 Gas top-tier pricing amongst US basins (blended average of Basin % of WTI2 % of WTI2 % of HHub2 approximately 100% of…
  10. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 10
    Williston Basin Delivering Free Cash Flow Utilized on-anticline learnings to expand development to off-anticline infills Over 200 additional locations to develop 65 wells drilled in 3YR Plan 90-100 million FCF generated in 2018…
  11. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 11
    NFX is Positioned to be an E&P Winner We have: Operational Scale and Quality Assets Capital Discipline and Self- Sustaining Growth Strong Margins, Debt-Adjusted Growth A Proven Track Record of Execution 11
  12. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 12
    APPENDIX
  13. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 13
    1Q18 Domestic Results 4Q17 ACTUAL 1Q18 GUIDANCE 1Q18 ACTUAL PRODUCTION Oil (mbopd) 67 71 72 NGL (mbopd) 36 33 35 Gas (mmcfpd) 398 394 401 Total (mboepd) 170 167-173 174 EXPENSES (/BOE)* LOE 3.18 3.43 3.52 Transportation** 4.92…
  14. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 14
    1Q18 Basin Results ANADARKO WILLISTON UINTA ARKOMA PRODUCTION Oil (mbopd) 40.2 14.0 17.0 0.0 NGL (mbopd) 30.9 3.4 0.6 0.2 Gas (mmcfpd) 278.8 18.2 16.7 84.1 Total (mboepd) 117.5 20.4 20.3 14.3 EXPENSES (/BOE) LOE 2.06 4.96 10.44…
  15. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 15
    2018 Annual Guidance DOMESTIC GUIDANCE 2017 ACTUAL 2018 ESTIMATES PRODUCTION Oil (mbopd) 61.2 74 NGL (mbopd) 31.7 38 Gas (mmcfpd) 356.5 412 Total (mboepd) 152.2 175 - 185 EXPENSES (/BOE) LOE 3.47 3.43 Transportation* 5.40 4.95…
  16. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 16
    2018 Quarterly Guidance 1Q18 1Q18 DOMESTIC GUIDANCE 2Q18E 3Q18E 4Q18E GUIDANCE ACTUAL PRODUCTION Oil (mbopd) 71 72 72 77 75 NGL (mbopd) 33 35 37 38 42 Gas (mmcfpd) 394 401 402 412 430 Total (mboepd) 167-173 174 172 180 179 187 183…
  17. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 17
    STACK 3YR Plan Modeling Assumptions MODELING ASSUMPTIONS STACK STACK 3YR Plan Well Profile PRODUCTION 300 Avg. IP30 (BOEPD) 1,300 250 CUMULATIVE MBOE Avg. IP30 (% oil / % liquids) 59% / 79% Avg. EUR (mboe) 1,300 200 Avg. EUR…
  18. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 18
    SCOOP 3YR Plan Modeling Assumptions MODELING ASSUMPTIONS SCOOP Oil SCOOP Wet Gas SCOOP Oil 3YR Plan Type Curve PRODUCTION 350 Avg. IP30 (BOEPD) 1,035 1,750 300 250 Avg. IP30 (mbo oil / mboe liquids) 695 / 870 420 / 1,100 MBOE…
  19. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 19
    Williston Basin 3YR Plan Modeling Assumptions MODELING ASSUMPTIONS Williston Williston Basin 3YR Plan Type Curve 400 PRODUCTION Avg. IP30 (BOEPD) 2,121 300 Avg. IP30 (% oil / % liquids) 65% / 83% MBOE Avg. EUR (mboe) 1,050 200…
  20. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 20
    OIL HEDGING DETAILS AS OF 04/26/18 WEIGHTED-AVERAGE PRICE VOLUME SWAPS W/ COLLARS W/ SHORT PERIOD SWAPS COLLARS6 (BBL/D) SHORT PUTS5 PUTS7 47,000 54.90 -- -- -- -- -- -- -- -- 2Q 2018 14,000 -- -- 50.59-56.70 -- -- -- -- -- --…
  21. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 21
    OIL HEDGING DETAILS AS OF 04/26/18 WEIGHTED-AVERAGE PRICE VOLUME SWAPS W/ COLLARS W/ SHORT PERIOD SWAPS COLLARS (BBL/D) SHORT PUTS PUTS8 -- -- -- -- -- -- -- -- -- -- 1Q 2019 -- -- -- -- -- 36,500 -- -- -- 40.47/50.53-57.02 -- --…
  22. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 22
    OIL HEDGING DETAILS AS OF 04/26/18 The following table details the expected impact to pre-tax income (in millions, except prices) from the settlement of our derivative contracts, outlined on the previous slide, at various NYMEX oil…
  23. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 23
    GAS HEDGING DETAILS AS OF 04/26/18 WEIGHTED-AVERAGE PRICE VOLUME SWAPS W/ COLLARS W/ PERIOD SWAPS COLLARS (MMBTU/D) SHORT PUTS9 SHORT PUTS10 160,000 2.99 -- -- -- 40,000 -- 2.60/2.97 -- -- 2Q 2018 10,000 -- -- 2.90-3.15 -- 30,000…
  24. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 24
    GAS HEDGING DETAILS AS OF 04/26/18 WEIGHTED-AVERAGE PRICE PERIOD VOLUME (MMBTU/D) SWAPS COLLARS 10,000 2.91 -- 1Q 2019 100,000 -- 3.00-3.47 10,000 2.91 -- 2Q 2019 -- -- -- 10,000 2.91 -- 3Q 2019 -- -- -- 10,000 2.91 -- 4Q…
  25. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 25
    GAS HEDGING DETAILS AS OF 04/26/18 The following table details the expected impact to pre-tax income (in millions, except prices) from the settlement of our derivative contracts, outlined on the previous slide, at various NYMEX gas…
  26. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 26
    PROPANE HEDGING DETAILS AS OF 04/26/18 WEIGHTED-AVERAGE PRICE PERIOD VOLUME (BBL/D) SWAPS (/GAL) 2Q 2018 5,000 .819 3Q 2018 4,000 .811 4Q 2018 3,000 .807 25
  27. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 27
    PROPANE HEDGING DETAILS AS OF 04/26/18 The following table details the expected impact to pre-tax income (in millions, except prices) from the settlement of our derivative contracts, outlined on the previous slide, at various Mont Belvieu…
  28. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 28
    Non-GAAP reconciliation of Adjusted EBITDA Twelve Months Ended December 31, March 31, ( in millions) 2016 2017 2018 Net Income (1,230) 427 366 Adjustments to derive EBITDA: Interest expense, net of capitalized interest 103 89 90…
  29. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 29
    Endnotes 1) 3YR Plan type curve indicative of anticipated results of wells to be drilled in play during the 3YR Plan and is representative of estimated ultimate recovery from the well and are not indicative of cumulative historical…
  30. UBS Global Oil and Gas Conference – Newfield Exploration Co. – slide 30
    Key Definitions 3YR Plan Assumptions Estimated production, costs, expenses (inclusive of CAPEX) shown are expected to be within +/- 5% of the values illustrated. Commodity prices based on NYMEX STRIP pricing as of March 31, 2018. Adjusted…

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