Track record BPX Energy Dave Lawler CEO, BPX Energy Brian Pugh COO, BPX Energy BP UPSTREAM INVESTOR DAY AND FIELDTRIP
BPX Energy core values, mission, and strategy Core values Mission Strategy Safety and the Build a premier Develop newly acquired environment independent onshore and legacy shale plays business focused on through efficient capital…
Track record Mission delivery Proven Proven Material free assets track record cash flow growth Proven top-tier assets Proven track Material free cash flow located in the core of the record of execution growth achieved through…
Track record BHP acquisition base case + upside1 increasing confidence that value creation can exceed model 65 WTI 3.25 HH Further upside potential Base case 55 WTI 2.75 HH 45 WTI Midstream 2.25 HH 10.5bn…
Track record Proven Permian, Eagle Ford, and Haynesville acreage Permian Eagle Ford Haynesville 128 active rigs in Reeves, Culberson 44 active rigs across 5 counties 51 active rigs in Haynesville and Loving counties 1,800 wells in…
Track record Stellar economics across a range of prices Breakeven WTI1 4.6bn boe resource base from BHP US onshore Resources Locations asset acquisition bn boe 0.3 0.3 500 Highly economic across a variety of price ranges 2,700…
Track record Synergies 350m annually from three categories On track to deliver synergies ahead of plan General & administrative Production cost Financial 200-220m 100-120m 50-60m Scaled engineering Intelligent Operations Trading…
Track record Capital efficiency primary development high-density, multi-zone, long-lateral development strategy Permian subsurface Haynesville subsurface (including legacy) Up to 6 wells Avalon 3 wells Bossier Up to 8 wells 2nd Bone…
Track record Additional resource potential under-developed zones prevalent across three plays Permian subsurface Haynesville subsurface (including legacy) Up to 6 wells Avalon 3 wells Bossier Up to 8 wells 2nd Bone Spring Wolfcamp…
Track record Permian integrated development plan installation of midstream assets to improve capital efficiency and decrease operating costs Completing wells Centralised processing Controlling midstream assets aligns the entire…
Track record Proven track record established top tier performance in legacy Southern Haynesville play Average single well cumulative production BPX gross production in Haynesville cumulative gross gas volume, mmboe gross production,…
Track record Proven track record material cost reduction achieved through proprietary intelligent operations model Traditional operating model: disparate Company operated unit Headcount systems and data silo information require…
Track record Intelligent operations example algorithm based work management system Proprietary system more efficiently manages workforce & activity 43% fewer workers doing 10% more work, with higher value Directly…
Track record Near term development Permian, Eagle Ford & Haynesville 2019 Plan Planned Divestments 2019-2021 Plan 2bn Capital 2-2.5bn Wamsutter 2019 capital p.a. Rig 16 San Juan Rig 15-25 count operated count operated rigs…
Track record Transforming the portfolio simplifying the business and increasing liquids production BP Lower 48 BPX Energy before acquisition (2018) post-integration (2021) Operated wells 9,400 3,500 Basins 6 3 Capital budget…
Track record BHP acquisition base case + upside1 increasing confidence that value creation can exceed model 65 WTI 3.25 HH Further upside potential Base case 55 WTI 2.75 HH 45 WTI Midstream 2.25 HH 10.5bn…
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