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2Q 2018 Corporate Presentation – Marathon Oil Corp

Marathon Oil Corp · Aug 1, 2018 · 24 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 2018 Corporate Presentation – Marathon Oil Corp – slide 1
    Second Quarter 2018 Financial and Operational Review August 1, 2018
  2. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 2
    Multi-Basin Execution Drives Returns and Growth Full-year guidance raised, budget unchanged Execution Generated 250MM of organic free cash flow in 2Q18 2Q18 avg. production: MRO 419 MBOED (+5% q/q, ex-Libya); U.S. Resource Play 285…
  3. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 3
    Execution Driving Enhanced Corporate Returns Resource play guidance raised for 2nd consecutive quarter, budget unchanged Previous Current 2018 vs 2017 Metrics Original Plan Guidance Guidance CROIC1 improvement: 30% 65% 70% 50 WTI…
  4. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 4
    Total Company Cash Flow for 2Q18 1 250MM in organic free cash flow 2.3B full year development capital budget unchanged Guiding to 2H18 resource play leasing and exploration (REx) capex of 100-150MM vs 1H18 actual capex of 250MM…
  5. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 5
    Differentiated Position in Top 4 U.S. Basins Multi-basin portfolio provides flexibility Appraise / Delineate Early Development Full Field Development Bakken MRO 2Q18 Oil Mix by Pricing Basis 2Q 2018 avg. 82 MBOED (84% oil)…
  6. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 6
    Another Quarter of Outstanding Eagle Ford Performance 50% increase in 90-day cumulative production compared to 2016 Production Volumes and Wells to Sales Production averaged 106 net MBOED, 2% 120 90 higher than 1Q 2018 Operated…
  7. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 7
    Consistent 2Q Results Across Expanded Eagle Ford Core Leske Lott 2 well pad Avg: 1,417 BOED (46% oil) Franke May Unit B 5,080 LL Gonzales 3 well pad Avg: 1,646 BOED (78% oil) Wilson 5,790 LL De Witt Coy City Ranch Unit B 4…
  8. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 8
    Bakken Oil Production Up 14% Sequentially Greater than 100% increase in 90-day cumulative production compared to 2016 Production Volumes and Wells to Sales Production averaged 82 net MBOED, 11% 100 30 higher than 1Q 2018 Operated…
  9. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 9
    Record Setting Bakken Performance Continues Delivered two new record Three Forks wells Historic Middle Bakken Well Performance Sherman Pad Mountrail 2 new wells 4,000 30-day avg: 3,614 BOED Hunts Along Pad 3,500 (75% oil) 4 new…
  10. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 10
    Oklahoma Shifting to Pad Development SCOOP Woodford Infill Exceeding Expectations Production Volumes and Wells to Sales Production averaged 80 net MBOED, up 100 30 7% from 1Q 2018 on flat wells to sales Operated Wells to Sales…
  11. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 11
    Oklahoma 2H18 Activity Focused on Infill Drilling 34 completions in 1H18; full-year guidance of 40-50 wells to sales unchanged Olive June Blaine Kingfisher Ruthie Irven John Mike Stroud BIA Siegrist Infill Roser Avg. IP 30: 900…
  12. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 12
    Capturing D&C Efficiencies in Northern Delaware Production Volumes and Wells to Sales Production averaged 17 net MBOED, up 6% 20 25 from 1Q 2018 (oil up 7%) Operated Wells to Sales 16 20 13 gross operated wells to sales with…
  13. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 13
    International E&P Highlights Sequential improvement in E.G. EBITDAX World Class Gas Infrastructure International E&P production 121 net EGLNG EGLNG Plant Plant MBOED 3Q production guidance of 105 to 115 net MBOED; impacted by…
  14. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 14
    Resource Play Exploration (REx) Update Progressing Louisiana Austin Chalk Opportunity MRO Acreage Position Louisiana Austin Chalk Activity NATCHITOCHES GRANT LA SALLE 240,000 net acres leased to date…
  15. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 15
    Multi-Basin Execution Drives Returns and Growth Full-year guidance raised, 2.3B development capital budget unchanged U.S. Resource Plays Corporate Returns 6% BOED 70% 1 Sequential production growth 2018 improvement in CROIC…
  16. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 16
    Appendix
  17. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 17
    Volumes, Exploration Expenses & Effective Tax Rate 2018 (excluding Libya) 1Q 2Q 3Q 4Q Full Year United States Net Sales Volumes: - Crude Oil and Condensate (MBD) 164 168 - Natural Gas Liquids (MBD) 50 57 - Natural Gas (MMCFD) 420 435…
  18. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 18
    2018 Production Estimates Guidance adjusted for July non-core asset sales (5 MBOED 1H18 production, 76% oil) Available for Sale Available for Sale 3QE Year Estimate United States Total (MBOED) 290 - 300 - Crude Oil (MBD) 165 - 175…
  19. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 19
    2018 Estimates Year Estimate United States Cost Data Production Operating 4.75 5.75 DD&A 19.75 22.25 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…
  20. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 20
    Net Sales Volumes and Realizations U.S. Divestiture-Adj. Sales Volumes Intl Production & Sales Volumes (Ex-Libya) 300 150 125 200 100 MBOED MBOED 298 75 283* 127 124 121 121 219* 114 115 100 50 25 0 0 2Q…
  21. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 21
    2018 2Q Production Mix Eagle Ford Oklahoma 20% 23%* Total U.S. Resource Plays 48% 21% 59% 29% 24% Crude Oil/Condensate 56% NGLs Bakken Northern Delaware 20% Natural Gas 7% 9% 17% 20% 63% 84% * 2Q oil cut…
  22. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 22
    United States Crude Oil Derivatives As of July 31, 2018 Crude Oil (Benchmark to NYMEX WTI) 3Q 2018 4Q 2018 FY 2019 FY 2020 Three-Way Collars Volume (Bbls/day) 95,000 95,000 50,000 - Weighted Avg Price per Bbl: Ceiling 57.65 57.65…
  23. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 23
    United States Natural Gas Derivatives As of July 31, 2018 Natural Gas (Benchmark to NYMEX HH) 3Q 2018 4Q 2018 Three-Way Collars Volume (MMBtu/day) 160,000 160,000 Weighted Avg Price per MMBtu: Ceiling 3.61 3.61 Floor 3.00…
  24. 2Q 2018 Corporate Presentation – Marathon Oil Corp – slide 24
    Capital, Investment & Exploration 2018 budget reconciliation MM 2018 Budget 2018 YTD Actual Cash additions to Property, Plant and Equipment 1,300 Working Capital associated with PPE (16) Property, Plant and Equipment additions…

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