Our Disciplined Growth Strategy KEY STRATEGIC OBJECTIVES Focusing investment in top U.S. oil growth plays 1 Fund high-return projects Capital programs designed to remain within cash flow Net debt to EBITDA target: 1.0x 1.5x 2…
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 Excellent Substantial liquidity: 3.1 billion of cash Liquidity Cash: 3.1B Low Leverage Net debt to EBITDA target: 1.0x to 1.5x Net…
Highly-Regarded ESG Performance OVERALL SCORE ENVIRONMENT SCORE ENVIRONMENT +43% VERSUS PEER AVG. DVNs SCORE: 2 PEER AVERAGE: 3.5 TOP-QUARTILE PERFORMANCE 58 Peer Group Avg. 54 SOCIAL +35% VERSUS PEER AVG. DVNs SCORE: 2 PEER…
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…
Protecting Pricing & Flow Assurance Majority of U.S. oil production has access to Gulf Coast Access to Premium Gulf Coast Markets markets (premium to WTI pricing) STACK Firm transport: 30 Delaware Basin positioned for attractive oil…
Securing The Supply Chain Multi-year development plans allow for longer-term SERVICES& &SUPPLIES SUPPLIESSECURED SECURED SERVICES commitments at below-market rates Decoupling bundled services across supply chain Expanded vendor…
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…
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 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 Curtailed Q4 production rates at Jackfish…
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