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2Q 2018 Earnings Conference Call – ConocoPhillips

ConocoPhillips · Jul 26, 2018 · 15 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 Earnings Conference Call – ConocoPhillips – slide 1
    2Q18 Earnings Conference Call July 26, 2018
  2. 2Q 2018 Earnings Conference Call – ConocoPhillips – slide 2
    D O N WA L L E T T E EVP, Finance, Commercial & CFO
  3. 2Q 2018 Earnings Conference Call – ConocoPhillips – slide 3
    2Q18 Summary: Delivering Cash Flow Expansion; Keeping Our Discipline Strategic Financial Operational Delivering on disciplined priorities Delivering strong free cash flow Delivering our operational plan Achieved stated debt target…
  4. 2Q 2018 Earnings Conference Call – ConocoPhillips – slide 4
    2Q18 Earnings Summary: Power of a Diversified Portfolio Highlights Sequential adjusted earnings benefited from 1,291 Adjusted 1,136 improved realized prices, partially offset by operating cost increases related to seasonal…
  5. 2Q 2018 Earnings Conference Call – ConocoPhillips – slide 5
    Focus on Free Cash Flow Generation & Differential Return of Capital 2Q18 B 2Q18 Marker Prices Brent 74.35/BBL WTI 67.99/BBL 0.1 0.1 Henry Hub 2.80/MMBTU 2.0 3.2 Includes 0.4B Alaska WNS 2.1 bolt-on acquisition moved from…
  6. 2Q 2018 Earnings Conference Call – ConocoPhillips – slide 6
    AL HIRSHBERG EVP, Production, Drilling & Projects
  7. 2Q 2018 Earnings Conference Call – ConocoPhillips – slide 7
    2Q18 Operations Highlights: Another Quarter of Strong Execution 2Q18 production of 1,211 MBOED; includes 5 MBOED for Alaska Western North Slope acquisition Grew 5% vs. 2Q17 underlying production1 of 1,153 MBOED Lower 48 Big 3…
  8. 2Q 2018 Earnings Conference Call – ConocoPhillips – slide 8
    2018 Operations Outlook Production (MBOED) Operated capital scope unchanged; 6B capital reflects partner- 1,356 20% operated activity, execution efficiency and inflation PRODUCTION PER DEBT- Excludes acquisitions of Alaska WNS…
  9. 2Q 2018 Earnings Conference Call – ConocoPhillips – slide 9
    Question & Answer Session
  10. 2Q 2018 Earnings Conference Call – ConocoPhillips – slide 10
    Appendix
  11. 2Q 2018 Earnings Conference Call – ConocoPhillips – slide 11
    2018 Production Guidance (MBOED) 1,215 - 1,255 27% 1,356 20% PRODUCTION PRODUCTION 1,202 PER DEBT- PER DEBT- ADJUSTED ADJUSTED 52 SHARE 181 1,225 - 1,255 SHARE GROWTH2 Dispositions1 GROWTH2 Dispositions1 12% 9% PRODUCTION…
  12. 2Q 2018 Earnings Conference Call – ConocoPhillips – slide 12
    Full-Year 2018 Guidance Full-year 2018 production: 1,225 1,255 MBOED 3Q18 production: 1,215 1,255 MBOED Adjusted operating costs: 5.7B Capital expenditures: 6B; excludes announced acquisitions of 0.4B Alaska Western North Slope…
  13. 2Q 2018 Earnings Conference Call – ConocoPhillips – slide 13
    1H18 Performance Company Cash Flow B 1H18 Marker Prices Brent 70.55/BBL WTI 65.43/BBL Henry Hub 2.90/MMBTU 0.3 3.5 5.7 Includes 0.4B Alaska bolt-on and 0.1B 5.0 Montney acreage acquisition 8.4 0.7 1.1 4.1 2018…
  14. 2Q 2018 Earnings Conference Call – ConocoPhillips – slide 14
    2018 Annualized Net Income Sensitivities Crude Brent/ANS: 105-125MM for 1/BBL change WTI: 45-55MM for 1/BBL change WCS: 10-15MM for 1/BBL change Does not incorporate contingent payment of CA6MM quarterly for every CA1 WCS price…
  15. 2Q 2018 Earnings Conference Call – ConocoPhillips – slide 15
    2018 Annualized Cash Flow Sensitivities Consolidated Operations Equity Affiliates1 (45-75/BBL WTI) (50-75/BBL WTI) Crude: Expect distributions from equity affiliates at 50/BBL Brent/ANS: 100-110MM for 1/BBL change 1/BBL movement in…

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