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2Q Update Presentation – Newfield Exploration Co.

Newfield Exploration Co. · Jul 31, 2018 · 27 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. 2Q Update Presentation – Newfield Exploration Co. – slide 1
    2Q18 UPDATE NFX NFX is periodically published to keep stockholders aware of current operating activities at Newfield. It may include estimates of expected production volumes, costs and expenses, recent changes to hedging positions…
  2. 2Q Update Presentation – Newfield Exploration Co. – slide 2
    2Q18 Highlights: Anadarko Basin Drives Outperformance 2Q18 reached new heights for the Company Domestic net production up 30% YoY: 186,700 BOEPD (39% oil, 62% liquids) Anadarko Basin net production up 45% YoY: 131,100 BOEPD (32% oil,…
  3. 2Q Update Presentation – Newfield Exploration Co. – slide 3
    Raising 2018 Guidance Based on Strong Anadarko Results Raising 2018E domestic and Anadarko Basin production expectations (on BOE basis) based on strong 1H18 results and reiterating total oil volumes 2018E Domestic and Anadarko Basin…
  4. 2Q Update Presentation – Newfield Exploration Co. – slide 4
    1H18 Anadarko Basin Adjustments From Partner Activity Operated Production OBO Production Gas NGLs Oil 23% 35% 34% Avg. 1H18: 8% 69% 124,000 BOEPD Gas: 39% / NGL: 28% / Oil: 33% 31% Anadarko Basin CAPEX 35 573 25 mm…
  5. 2Q Update Presentation – Newfield Exploration Co. – slide 5
    Unlocking Resource Expansion in NW STACK SCORE Program Recent Newfield operated wells demonstrate 400 6 prolific nature of NW STACK 350 5 AVG. CUMULATIVE MBOE Recent well highlights (IP30s): 300 4 250 WELL COUNT CHARLES…
  6. 2Q Update Presentation – Newfield Exploration Co. – slide 6
    Newfield Has Led Development of Water Solutions in STACK Existing Permanent Water Pipelines Future Permanent Water Pipelines Barton Water Treatment Facility 8 Since 2015, NFX has invested 80 MM on permanent water pipelines…
  7. 2Q Update Presentation – Newfield Exploration Co. – slide 7
    Leverage Profile Improvement Ahead of Schedule FCF generation in 2Q18 has placed Net debt / adj. EBITDA at 1.7x (Ahead of FY18 guidance) Expanding liquidity to over 2.4 billion 2.0 billion undrawn unsecured credit facility 293 million…
  8. 2Q Update Presentation – Newfield Exploration Co. – slide 8
    2Q18 Results NFX is periodically published to keep stockholders aware of current operating activities at Newfield. It may include estimates of expected production volumes, costs and expenses, recent changes to hedging positions and…
  9. 2Q Update Presentation – Newfield Exploration Co. – slide 9
    2Q18 Domestic Results 1Q18 ACTUAL 2Q18 GUIDANCE 2Q18 ACTUAL PRODUCTION Oil (mbopd) 72 72 74 NGL (mbopd) 35 37 43 Gas (mmcfpd) 401 402 422 Total (mboepd) 174 172180 187 EXPENSES (/BOE)* LOE 3.43 3.43 3.13 Transportation** 5.01…
  10. 2Q Update Presentation – Newfield Exploration Co. – slide 10
    2Q18 Basin Results ANADARKO WILLISTON UINTA ARKOMA PRODUCTION Oil (mbopd) 42.1 14.3 17.6 0.0 NGL (mbopd) 38.3 3.4 0.6 0.4 Gas (mmcfpd) 304.4 19.9 14.7 81.0 Total (mboepd) 131.1 21.0 20.7 13.9 EXPENSES (/BOE) LOE 2.29 5.59 9.87…
  11. 2Q Update Presentation – Newfield Exploration Co. – slide 11
    2018 Annual Guidance DOMESTIC GUIDANCE 2017 ACTUAL 2018 ESTIMATES* PRODUCTION Oil (mbopd) 61.2 74 NGL (mbopd) 31.7 41 Gas (mmcfpd) 356.5 425 Total (mboepd) 152.2 180 190 EXPENSES (/BOE) LOE 3.47 3.47 Transportation** 5.40 4.93…
  12. 2Q Update Presentation – Newfield Exploration Co. – slide 12
    2018 Quarterly Guidance 1Q18 2Q18 2Q18 DOMESTIC GUIDANCE 3Q18E* 4Q18E* Actual Guidance Actual PRODUCTION Oil (mbopd) 72 72 74 73 77 73 77 NGL (mbopd) 35 37 43 40 46 40 46 Gas (mmcfpd) 401 402 422 420 450 420 450 Total (mboepd)…
  13. 2Q Update Presentation – Newfield Exploration Co. – slide 13
    APPENDIX NFX is periodically published to keep stockholders aware of current operating activities at Newfield. It may include estimates of expected production volumes, costs and expenses, recent changes to hedging positions and…
  14. 2Q Update Presentation – Newfield Exploration Co. – slide 14
    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…
  15. 2Q Update Presentation – Newfield Exploration Co. – slide 15
    SCOOP 3YR Plan Modeling Assumptions MODELING ASSUMPTIONS SCOOP Oil SCOOP Wet Gas SCOOP Oil 3YR Plan Type Curve PRODUCTION 300 Avg. IP30 (BOEPD) 1,035 1,750 250 Avg. IP30 (mbo oil / mboe liquids) 695 / 870 420 / 1,100 200 MBOE…
  16. 2Q Update Presentation – Newfield Exploration Co. – slide 16
    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…
  17. 2Q Update Presentation – Newfield Exploration Co. – slide 17
    OIL HEDGING DETAILS AS OF 07/16/18 WEIGHTEDAVERAGE PRICE VOLUME SWAPS W/ COLLARS W/ SHORT PERIOD SWAPS COLLARS (BBL/D) SHORT PUTS5 PUTS6 60,000 56.58 3,500 44.00/56.78 3Q 2018 28,000 55.81 3,500 44.00/56.78 4Q 2018…
  18. 2Q Update Presentation – Newfield Exploration Co. – slide 18
    OIL HEDGING DETAILS AS OF 07/16/18 WEIGHTEDAVERAGE PRICE VOLUME SWAPS W/ COLLARS W/ SHORT PERIOD SWAPS COLLARS (BBL/D) SHORT PUTS PUTS8 1Q 2019 36,500 40.47/50.5357.02 2Q 2019 33,500 40.48/50.5157.04 3Q 2019 27,000…
  19. 2Q Update Presentation – Newfield Exploration Co. – slide 19
    OIL HEDGING DETAILS AS OF 07/16/18 The following table details the expected impact to pretax income (in millions, except prices) from the settlement of our derivative contracts, outlined on the previous slide, at various NYMEX oil…
  20. 2Q Update Presentation – Newfield Exploration Co. – slide 20
    GAS HEDGING DETAILS AS OF 07/16/18 WEIGHTEDAVERAGE PRICE VOLUME SWAPS W/ COLLARS W/ PERIOD SWAPS COLLARS (MMBTU/D) SHORT PUTS8 SHORT PUTS9 180,000 2.97 40,000 2.60/2.97 3Q 2018 10,000 2.903.15 30,000 2.30/2.873.32 150,000…
  21. 2Q Update Presentation – Newfield Exploration Co. – slide 21
    GAS HEDGING DETAILS AS OF 07/16/18 WEIGHTEDAVERAGE PRICE PERIOD VOLUME (MMBTU/D) SWAPS COLLARS 10,000 2.91 1Q 2019 100,000 3.003.47 10,000 2.91 2Q 2019 10,000 2.91 3Q 2019 10,000 2.91 4Q 2019 23
  22. 2Q Update Presentation – Newfield Exploration Co. – slide 22
    GAS HEDGING DETAILS AS OF 07/16/18 The following table details the expected impact to pretax income (in millions, except prices) from the settlement of our derivative contracts, outlined on the previous slide, at various NYMEX gas…
  23. 2Q Update Presentation – Newfield Exploration Co. – slide 23
    PROPANE HEDGING DETAILS AS OF 07/16/18 WEIGHTEDAVERAGE PRICE PERIOD VOLUME (BBL/D) SWAPS (/GAL) 3Q 2018 5,000 .830 4Q 2018 3,000 .807 Denotes update 25
  24. 2Q Update Presentation – Newfield Exploration Co. – slide 24
    PROPANE HEDGING DETAILS AS OF 07/16/18 The following table details the expected impact to pretax income (in millions, except prices) from the settlement of our derivative contracts, outlined on the previous slide, at various Mont Belvieu…
  25. 2Q Update Presentation – Newfield Exploration Co. – slide 25
    NonGAAP reconciliation of Adjusted EBITDA Twelve Months QTD Ended ( in millions) 3Q17 4Q17 1Q18 2Q18 June 30, 2018 Net Income 87 95 86 119 387 Adjustments to derive EBITDA: Interest expense, net of capitalized interest 22 23 23 22…
  26. 2Q Update Presentation – Newfield Exploration Co. – slide 26
    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…
  27. 2Q Update Presentation – Newfield Exploration Co. – slide 27
    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 June 30, 2018. Adjusted…

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