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2019 Security Analyst Meeting Corporate Overview – Chevron Corp

Chevron Corp · Mar 5, 2019 · 16 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. 2019 Security Analyst Meeting Corporate Overview – Chevron Corp – slide 1
    Corporate overview Mike Wirth Chairman and Chief Executive Officer 2019 Chevron Corporation
  2. 2019 Security Analyst Meeting Corporate Overview – Chevron Corp – slide 2
    Positioned to win in any environment Advantaged portfolio delivers strong cash flow Unmatched balance sheet and low breakeven Disciplined, returns-driven capital allocation Superior cash returns to shareholders Chevron…
  3. 2019 Security Analyst Meeting Corporate Overview – Chevron Corp – slide 3
    Leading operational excellence Oil spills to land or water Thousands of barrels 40 Industry leading 30 Process safety workforce safety 20 improvement 10 1 1 1 2015 2016 2017 2018 CVX ranking relative to competitors…
  4. 2019 Security Analyst Meeting Corporate Overview – Chevron Corp – slide 4
    Growing demand for our products Global energy demand Global liquids demand MMBOED 125 MMBD 100 400 Supply gap 75 10 trillion 88MMBD 50 Renewables & hydro 25 Existing supply 300 Decline with no investment Nuclear 2017 2020…
  5. 2019 Security Analyst Meeting Corporate Overview – Chevron Corp – slide 5
    Advantaged portfolio a key differentiator Upstream Downstream & Chemicals Leading adjusted EPB 14.45 Leading adjusted EPB 2.66 7.4% production growth Highest complexity refinery system (NCI: 12.7) Unit production cost…
  6. 2019 Security Analyst Meeting Corporate Overview – Chevron Corp – slide 6
    Upside leverage and downside resilience Grow production Returns-driven & sustain margins capital allocation High Low price environment price environment Lower our cost structure Competitive dividend growth Competitive dividend…
  7. 2019 Security Analyst Meeting Corporate Overview – Chevron Corp – slide 7
    Strong reserves replacement Five-year reserve replacement ratio Reserves to production ratio 2013-2017 Years 150% 18 Reserves replacement through the price cycle 16 100% 14 12 50% Prudent and stable 10 reserves to…
  8. 2019 Security Analyst Meeting Corporate Overview – Chevron Corp – slide 8
    Permian value has more than doubled Permian resource Permian unconventional portfolio value BBOE 20 Resource 16.2 BBOE 15 up from 9.3 BBOE +6.9 2X 10 Value drivers Land optimization 5 Well performance Technology 2017…
  9. 2019 Security Analyst Meeting Corporate Overview – Chevron Corp – slide 9
    Portfolio high-grading continues Upstream assets Divestment criteria Strategic alignment San Joaquin Resource potential Mature Denmark Valley Relative economics U.K. Nigeria Central North Attractive value Azerbaijan…
  10. 2019 Security Analyst Meeting Corporate Overview – Chevron Corp – slide 10
    Best positioned for price uncertainty Net debt ratio 2019 cash flow breakeven 2018 /bbl Brent Industry-leading CV X 13.5% balance sheet CV X 51 Lowest breakeven XO TO M T TO BP T Brent volatility /bbl RD 150 RD S…
  11. 2019 Security Analyst Meeting Corporate Overview – Chevron Corp – slide 11
    Disciplined and ratable C&E Total capital & exploratory expenditures Ratable billions 18-20 19-22 Short-cycle, 20 20 high return Low execution risk 70% of 2019 spend delivers cash flow within 2 years 2018 2019 2020…
  12. 2019 Security Analyst Meeting Corporate Overview – Chevron Corp – slide 12
    Efficient capital deployment generates superior returns Cash capex over CFFO CFFO ROCE at 60/bbl Average % 2018-2021 % 2017-2023 75% 18 Price upside Low capital intensity Portfolio, cost & 16 Margin other 50% 14…
  13. 2019 Security Analyst Meeting Corporate Overview – Chevron Corp – slide 13
    Growing upstream cash generation Net production at 60/bbl Upstream cash margin at 60/bbl MMBOED /BOE Production growth 25 5-year: 3-4% CAGR 4.0 20 3.5 Sustained cash margins 15 3.0 10 2.5 5 2.0 2018 2021 2023…
  14. 2019 Security Analyst Meeting Corporate Overview – Chevron Corp – slide 14
    2019 cash generation covers all financial priorities Sources and uses of cash in 2019 at 60/bbl billions 30 Cash framework balanced…
  15. 2019 Security Analyst Meeting Corporate Overview – Chevron Corp – slide 15
    Returning more cash to shareholders d 5-year average shareholder distributions as % of CFFO and asset sales 2009-2023 50% 45% 40% Returning 35% Avg. Brent higher percentage of 60 cash flow to shareholders 30% Avg. Brent…
  16. 2019 Security Analyst Meeting Corporate Overview – Chevron Corp – slide 16
    Chevron offers a winning value proposition Disciplined financial priorities Competitive advantage Shareholder returns Maintain and grow dividend Strong free cash Unmatched flow balance sheet Fund capital program Advantaged 6%…

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