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Investor Presentation – Chesapeake Energy Corp

Chesapeake Energy Corp · Nov 5, 2014 · 21 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. Investor Presentation – Chesapeake Energy Corp – slide 1
    Investor Presentation November 5, 2014
  2. Investor Presentation – Chesapeake Energy Corp – slide 2
    WHERE WE ARE TODAY CORPORATE PROGRESSION 2013 2014 2015 + TRANSFORMATION FOUNDATION E&P LEADERSHIP 3 I INVESTOR PRESENTATION 11/5/2014
  3. Investor Presentation – Chesapeake Energy Corp – slide 3
    APPLYING OUR BUSINESS STRATEGIES Balance capital expenditures with Develop world-class inventory cash flow from operations Target top-quartile operating and Divest noncore assets and financial metrics noncore affiliates Pursue…
  4. Investor Presentation – Chesapeake Energy Corp – slide 4
    3Q14 OPERATIONAL AND FINANCIAL RESULTS TOTAL ADJ. PROD. LIQUIDS MIX ADJ. OIL PROD. 11% YOY (1) to 29% of Total Production(2) 5% Q/Q (1) 726 mboe/d 28% in 2Q14 118.9 mbbls/d ADJ. EARNINGS/FDS ADJ. EBITDA CAPEX 12% YOY 7% YOY 8% YOY…
  5. Investor Presentation – Chesapeake Energy Corp – slide 5
    CAPITAL DISCIPLINE (1) 14.2 in billions 7.6 (2) 5.7 60% Decrease in 36% Increase in Operating Capital Investment Cash Flow (1) Operating Cash Flow before changes in assets and liabilities (2) 2014 based on midpoint of company Outlook…
  6. Investor Presentation – Chesapeake Energy Corp – slide 6
    GROWING PRODUCTION WHILE MANAGING INVENTORY Inventory Count mmboe 7 I INVESTOR PRESENTATION 11/5/2014
  7. Investor Presentation – Chesapeake Energy Corp – slide 7
    OPERATIONS UPDATE Operating cash flow(1) for first nine months of 3Q14 Daily Avg. Net Production (mboe/d) 2014 of approximately 4.2 billion, compared to capital expenditures of 3.5 billion(2) Adjusted production(3) for first nine…
  8. Investor Presentation – Chesapeake Energy Corp – slide 8
    EAGLE FORD ASSET OVERVIEW 3Q14 avg. net production of 102 mboe/d Up 12% sequentially Averaged 21 operated rigs (3 of which were spudder rigs) and connected 89 gross wells in 3Q14 449,000 net acres 61% avg WI, 46% avg NRI CHK Operated…
  9. Investor Presentation – Chesapeake Energy Corp – slide 9
    UTICA ASSET OVERVIEW 3Q14 avg. net production of 86 mboe/d Up 27% sequentially Averaged 7 operated rigs and connected 77 gross wells in 3Q14 Over 1 million net acres 250,000 net acres in wet gas window CHK/TOT JV Outline 300,000 net…
  10. Investor Presentation – Chesapeake Energy Corp – slide 10
    POWDER RIVER BASIN NIOBRARA ASSET OVERVIEW Net production of 14 mboe/d(1) Three operated rigs in 3Q14 and connected 17 gross wells in 3Q14 388,000+ net acres 79% avg. WI Buckinghorse Plant (4Q'14) expected to add 120 mmcf/d processing…
  11. Investor Presentation – Chesapeake Energy Corp – slide 11
    EXECUTING OUR PLAN Production growth(1) 9 12% Cash flow 5,250 5,450 MM Capital 5,000 5,400 MM(2) Cash costs LOE, G&A and interest expense Leverage Reduce adjusted leverage by 30% YE 2014 (1) Growth range based on 2013 production of…
  12. Investor Presentation – Chesapeake Energy Corp – slide 12
    NORTHERN MARCELLUS ASSET OVERVIEW 3Q14 avg. net production of 882 mmcfe/d Up 1% sequentially Averaged 3 operated rigs and connected 23 gross wells in 3Q14 230,000+ net acres(1) 39% avg. WI, 34% avg. NRI Avg. completed well cost of 7.0…
  13. Investor Presentation – Chesapeake Energy Corp – slide 13
    MID-CONTINENT ASSET OVERVIEW 3Q14 avg. net production of 96 mboe/d Averaged 18 operated rigs and connected 63 gross wells in 3Q14 249,000 net acres actively being developed in aggregate Mississippian Lime 164,000 net acres Miss. Lime…
  14. Investor Presentation – Chesapeake Energy Corp – slide 14
    HAYNESVILLE ASSET OVERVIEW 3Q14 avg. net production of 562 mmcfe/d Up 11% sequentially Averaged 9 operated rigs and connected 14 gross wells in 3Q14 387,000 net acres 71% avg WI, 57% avg NRI Avg. completed well cost of 8.2 million(2)…
  15. Investor Presentation – Chesapeake Energy Corp – slide 15
    BARNETT SHALE ASSET OVERVIEW 3Q14 avg. net production of 562 mmcfe/d 1 - 2 operated rigs in 2014 215,000 net acres 68% avg WI, 52% avg…
  16. Investor Presentation – Chesapeake Energy Corp – slide 16
    CURRENT HEDGE POSITION Natural Gas Oil 72% 64% 42% Swaps 4.09/mcf NYMEX 26% 94.22/bbl Three-Way NYMEX Collars 4.50-5.24/mcf NYMEX 4.11 - 4.37/mcf NYMEX Q4 2014 Total 2015 Volume (bcf) 194 319 Natural Gas Hedges Price (/mcf) 4.12 4.31…
  17. Investor Presentation – Chesapeake Energy Corp – slide 17
    UTICA DOWNSTREAM MARKETING ADVANTAGE Average transportation rates of 0.22 per mcf per day for balance of 2014 Dawn and 0.24 per mcf per day for 2015 Gulf Coast Market Access 440 MMcfd to the Gulf Coast for 2015 Utica 732 MMcfd to the…
  18. Investor Presentation – Chesapeake Energy Corp – slide 18
    REDUCING LEVERAGE (mm) 2012 2014E(1)(2) Term Loan 2,000 -- Long-Term Bonds 10,666 11,821 Credit Facility 418 -- GAAP Debt 13,084 11,821 10% VPPs 3,187 1,720 Operating & Finance Leases 1,255 -- Subsidiary Preferred 2,500 -- Corporate…
  19. Investor Presentation – Chesapeake Energy Corp – slide 19
    SENIOR NOTE PROFILE Sr. Notes: 11.8 billion Convertibles 9/30/2014 WACD 5.0% Other Senior Notes 2,263 Avg. Maturity: 5.2 years 1,800 1,700 1,500 1,500 1,100 1,015 500 396 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2.75%(1)…
  20. Investor Presentation – Chesapeake Energy Corp – slide 20
    RECONCILIATION OF ADJUSTED EARNINGS PER SHARE ( in mm, except per share data) Three Months Ended: 9/30/2014 9/30/2013 Net income available to common stockholders 169 156 Adjustments, net of tax: Unrealized losses on derivatives (384)…
  21. Investor Presentation – Chesapeake Energy Corp – slide 21
    RECONCILIATION OF ADJUSTED EBITDA ( in mm) Three Months Ended: 9/30/2014 9/30/2013 Cash provided by operating activities 1,184 1,381 Changes in assets and liabilities 109 31 (1) Operating cash flow 1,293 1,412 Net income 692 240…

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