Disciplined Growth Strategy KEY STRATEGIC OBJECTIVES KEY ACCOMPLISHMENTS IN 2018 1 Fund high-return projects U.S. oil growth ahead of plan 2 Generate free cash flow No change to capital spending outlook Corporate cost savings:…
Executing The Multi-Year Business Plan 2018e Multi-Year Targets (2017-2020) U.S. oil production +15% 17% CAGR (retained assets) 17% YoY growth Total BOE production +5% 7% CAGR (retained assets) 9% YoY growth in U.S. Per-unit…
Strategic Deployment Of Excess Cash 4 billion share-repurchase program underway KEY INITIATIVES UNDERWAY Represents 20% of outstanding shares 2.7 billion repurchased to date (as of 11/7/18) 4 Billion share-repurchase program…
Significant Financial Strength Investment-grade credit ratings PROTECTING OUR ABILITY TO EXECUTE Substantial liquidity: 3.1 billion of cash Excellent Liquidity Cash: 3.1B Low Net debt to EBITDA target: 1.0x to 1.5x Leverage Net…
Highly-Regarded ESG Performance OVERALL SCORE ENVIRONMENT SCORE ENVIRONMENT SCORE SOCIAL SCORE +41% +10% TOP-QUARTILE PERFORMANCE 58 Peer Group Avg. 54 79 SOCIAL SCORE VERSUS PEER AVG. VERSUS PEER AVG. DVNs SCORE: 2 DVNs…
Operational Excellence Capture Improve FULL VALUE RETURNS Maximize base production Optimize capital program Minimize controllable downtime Disciplined project execution Enhance well productivity Perform premier technical work…
2019 Preview: Keeping Our Discipline OPTIMIZED FOR RETURNS OIL GROWTH SHARE REDUCTION E & P C A P I TA L P R O G R A M U . S . R E TA I N E D A S S E T S O U T S TA N D I N G S H A R E S 2.4-2.7 Billion 15%-19% Growth 20%…
Protecting Pricing & Flow Assurance KEY MESSAGES Access to Premium Gulf Coast Markets Majority of production has access to Gulf Coast STACK Delaware Basin oil production is price protected Firm transport: 30 MBOD (Marketlink) Firm…
Securing The Supply Chain Expect mid-single digit inflation in 2019 SERVICES& &SUPPLIES SUPPLIESSECURED SECURED SERVICES Efficiencies expected to offset cost pressures Multi-year development plans allow for longer-term…
Delaware Basin Franchise Asset POTATO BASIN Eddy Lea World-class oil opportunity TODD North Thistle 34 Drilling Boundary Raider Area Spud Muffin Multi-decade growth platform Drilling Q4 2018 Spud Up to 15 target intervals…
Delaware Basin Advantaged State-Line Area Well productivity reaching record highs Accelerating activity in 2019 Average Cumulative Oil Production Per Well (MBO) Upstream Capital (B) 1 Billion 150 2018 2015-2017 avg. 100 2019e 50…
STACK Next Steps To Optimize Development Returns Upcoming activity highly accretive to corporate UPCOMING STACK DEVELOPMENT ACTIVITY return targets Developments Online Kingfisher Showboat Growth trajectory re-established by year…
Rockies An Emerging Growth Opportunity Accelerating capital activity in 2019 RECENT POWDER RIVER BASIN ACTIVITY Turner Expect to operate 4 rigs by early next year Niobrara RU JFW Fed 13 3X & 4X Super Mario Area Avg. 30-Day IP: 1,500…
Thank you. For additional information see our Q3 Operations Report Thank you.
Q3 2018 Key Modeling Stats & Outlook KEY METRICS Q3 ACTUALS Q3 2018 - ASSET DETAIL DELAWARE STACK ROCKIES EAGLE FORD BARNETT HEAVY OIL U.S. oil retained (MBbls/d) 125 RETAINED PRODUCTION Canada oil (MBbls/d) 102 Oil (MBbl/d) 44 29 15 31 -…
2018 Outlook: U.S. Growth Initiatives Ahead Of Plan U.S. growth exceeding expectations YTD KEY MESSAGES 2018e oil production growth rates (retained assets) +17% (vs. 2017) U.S. oil growth to accelerate into 2019 No change to…
Divestiture Program Accelerates Value Creation Resource quality & depth allows for high-grading T R A N S A C T I O N D E TA I L S of portfolio Announced 4.7 billion of divestitures to date Closed EnLink transaction in July (3.125…
Eagle Ford & Barnett Shale EAGLE FORD OVERVIEW BARNETT SHALE OVERVIEW 10% FREE CASH FLOW 500 2018 Dow JV Activity OIL GROWTH MILLION IN 2018e (VS Q2 2018) Dewitt Divest Details Sale price: 50 million Q3 Results Wise…
Heavy Oil Overview & Outlook Q3 net production: 104,000 Boe per day SAGD Sweet Spot Jackfish 1 maintenance impact: 15 MBOD Jackfish 2&3 produced at nameplate capacity LOE per Boe declined 16% vs. Q2 2018 Full-scale operations…
Heavy Oil Mitigating Pricing Pressures In 2019 Actively adding WCS financial swaps in 2019 Canadian Heavy Oil Marketing Opportunities (21 MBOD at 23 off WTI in 1H 2019) Jackfish Secured firm transport to Gulf Coast WCS Pricing…
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