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Barclays Global CEO Energy Power Conference – EOG Resources, Inc.

EOG Resources, Inc. · Sep 4, 2018 · 20 slides

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Slides

  1. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 1
    Bill Thomas
  2. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 2
    Leader in ROCE Through Commodity Price Cycles Leader in Disciplined Growth Low-Cost Producer Competitive in Global Oil Market Commitment to Safety and the Environment Delivering Long-Term Shareholder Value Barclays_0918-3
  3. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 3
    WTI Oil: 17 28 26 61 71 95 48 60 HHub Gas: 2.20 4.10 3.40 7.20 4.20 3.70 2.70 3.00 30% 27% 25% 26% 13% Reset to Return to 20% Average Premium 10%+ 1998-2017 Strategy in 2018 18% 18% 15% 16% 14% 12% 8% 5% 5% 4% 4% 4%…
  4. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 4
    25% 20% 15% 10% 5% 0% -5% EOG A B C D E F G H I Source: FactSet consensus. (1) Debt-adjusted to remove effect of leverage. Total shares = diluted shares outstanding plus net-debt divided by LTM stock price.…
  5. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 5
    17 EOG One of 68 Companies in S&P 500 with Double-Digit ROCE and Growth 11 10 10 7 4 4 3 1 1 0 0 Info. Tech. Healthcare Cons. Disc. Financials Industrials Energy Energy Materials Cons. Real Estate Telecom. Utilities…
  6. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 6
    Minimum Direct ATROR1 of Premium Wells Increases with Higher Prices Industry-Leading Cash Returns 100%+ 60% Payback…
  7. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 7
    9,500 8,000 6,000 3,200 Feb 2016 Feb 2017 Feb 2018 Aug 2018 Resource 2.0 BnBoe 5.1 BnBoe 7.3 BnBoe 9.2 BnBoe Potential2 Per Well 625 MBoe 850 MBoe 900 MBoe 970 MBoe Replaced 2x Planned 2018 Completions YTD (1)…
  8. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 8
    Internal Prospect Generation First Mover Advantage Exploration Best Rock / Best Plays Low-Cost Acreage Most Prolific U.S. Horizontal Wells Culture Fastest U.S. Horizontal Driller Rate-of-Return Driven Industry Leading…
  9. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 9
    Bcfd 40 U.S. Horizontal Gas Production 35 30 Marcellus 25 20 First Horizontal EOG Shale Gas Well Barnett 15 Barnett Marcellus Haynesville Haynesville Fayetteville 10 Eagle Ford Woodford 5 Utica 0 2001 2002 2003…
  10. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 10
    MMBod 6 U.S. Horizontal Oil Production 5 4 Permian First Horizontal EOG Oil Well 3 Eagle Ford Eagle Ford Barnett Permian DB 2 Bakken Combo DJ Basin Bakken 1 DJ Basin SCOOP/STACK Other Hz. Oil Plays 0 2005 2006…
  11. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 11
    Total Oil Production (MBod) Bakken/ Three Forks 1,100 (20%) Powder River Basin 80 (2%) DJ Basin 6 Plays Make up 94% of U.S. 410 (8%) Horizontal Oil Production 5.4 MMBod Mid Continent 260 (5%) Permian 2,100 Total…
  12. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 12
    479 216 214 201 200 193 178 172 161 141 EOG Co. 1 Co. 2 Co. 3 Co. 4 Co. 5 Co. 6 Co. 7 Co. 8 Co. 9 Source: IHS December 2017; gross operated crude and condensate production. Companies: APC, CHK, CLR, COP, CXO, DVN, MRO,…
  13. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 13
    300 250 200 150 100 50 0 EOG A B C D E F G H I J K L M N O P Q R S T Source: Sanford C. Bernstein & Co. Thousand Club includes wells with peak 30-day production over 1,000 Boed. Represents 4,000 out of…
  14. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 14
    Direct ATROR1 EOG 143% Industry 115% 113% 65% 45% 41% 26% 12% Eagle Ford Permian Powder River Bakken EOG % 93% 82% 78% 65% Premium2 (1) ATROR calculated using 50 WTI and 3.00 NYMEX fixed for life of well. Assumes…
  15. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 15
    7.2 6.2 6.1 5.7 4.7 4.5 4.3 2012 2013 2014 2015 2016 2017 Target (1) Well Costs = Drilling, Completion, Well-Site Facilities and Flowback. Normalized to 5,300 lateral. Barclays_0918-16
  16. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 16
    ( Per BOE) 12.861 11.391 G&A 9.951 9.911 9.292 Transportation LOE 2014 2015 2016 2017 2018E 2018E** (1) Excludes one-time expenses. See reconciliation schedules. (2) Based on midpoint of 2018 guidance, as of August 2,…
  17. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 17
    MT WY Powder River Basin Sheridan PRB Core Area Net Resource Potential 2.1 BnBoe1 Crook Over 1,600 Net Premium Locations Campbell Weston Johnson EOG Precision Targeting Identifies Best 30 Feet of Rock in Mowry and Niobrara…
  18. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 18
    4,240 Revenue Well Cost 3,270 3,240 2,780 2,735 1,055 810 820 620 640 DB Wolfcamp Oil PRB Niobrara PRB Mowry Eagle Ford Woodford Oil Window (1) Revenue calculated using 40 WTI, 2.50 NYMEX and 15 NGL fixed for life of…
  19. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 19
    Generate Over 1.5 Bn Free Cash Flow1 at 60 Oil in 2018 High-Return Organic Growth - Diverse and Deep Premium Drilling Inventory - Organic Exploration & Low-Cost Leasing for New High-Return Plays - 18% Oil Growth2 in 2018 Balance…
  20. Barclays Global CEO Energy Power Conference – EOG Resources, Inc. – slide 20
    200% EOG 166% 160% 120% S&P 500 80% 98% 40% 0% WTI -28% -40% -80% Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Data through 8/29/18.…

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