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Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp

Occidental Petroleum Corp · May 6, 2019 · 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. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 1
    Revised Occidental Proposal to Acquire Anadarko Occidental Petroleum Corporation May 6, 2019
  2. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 2
    Transaction Merits Unchanged Highly accretive to CFPS and Free CFPS after dividends 3.5 B free cash flow improvements through synergies and capital reduction 10-15 B of planned portfolio optimization and free cash flow support…
  3. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 3
    Substantial Scale Industry-Leading Returns Disciplined Growth Oxy & Anadarko: 100 B 20%+ 2021 PF 3.12/share Growing Dividend and CROCE Enterprise Value (1) Creating A High Attractive mix of U.S. unconventional, global Strong mix…
  4. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 4
    World Class Global Asset Portfolio With Focus Q4 2018A Production (Mboe/d) 7 Oman 8 Qatar 9 UAE 10 Colombia 30 year production 2nd Largest Oil Producer 30 Year Joint Venture Llanos Norte Basin and history in Oman in Offshore Qatar…
  5. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 5
    Premier, Complementary Global Asset Portfolio 1 Producer in the Permian 4 Producer in Gulf of Mexico 1 in CO2 EOR Projects Leading Position in Colombia 1 Producer in the DJ Basin Top 3 Producer of PVC, Chlorine, and Caustic…
  6. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 6
    Enhanced Offer Transaction Delivered improved proposal to acquire Anadarko 76.00 per share as of May 3, 2019 Updates 59.00 cash and 0.2934 Oxy shares per Anadarko share Planned Sale of Non-Core Assets Binding agreement with Total…
  7. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 7
    Revised Proposal Details Oxy proposal to acquire Anadarko for 76.00 per share as of May 3, 2019 59.00 cash and 0.2934 Oxy shares per Anadarko share Structure and Equity purchase price of 38 B Consideration Total transaction value of 57…
  8. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 8
    Berkshire Hathaway Financing Commitment Flexible, balance sheet friendly acquisition financing Financial support from, and affiliation with, the worlds most renowned Rationale investor Enhances competitive ability to pursue attractive…
  9. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 9
    Oxys Play Leading Delaware Basin Performance Average 6 Month Cumulative Oil by Operator Oxys Subsurface Knowledge, Data 160 Analytics and Execution Drive Basin 140 Leading Results 120 Top Delaware Basin Operator 100 74% better 6…
  10. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 10
    Delaware Basin Synergistic Assets Oxy is competitively advantaged with experience in Delaware Basin geology and regional supply logistics Oxy Aventine - Maintenance and Logistics Hub APCs acreage is located in the middle of Oxys core…
  11. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 11
    Significant Identified Synergies with Potential Upside Expected Pre-Tax Annual Synergies and Capital Reduction ( B) 1.5 3.5 Capital Synergies: 0.9 B 0.9 Opex/G&A Synergies: 0.6 1.1 B 0.5 Capital Reduction: 1.5 B Permian…
  12. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 12
    Delivering Value Pro Forma Per Common Share Accretion(1) Continued commitment to return +30% 2020 +40% 2021 of capital through growing dividend and share repurchases 4X 10X over time Debt reduction via CFPS (2) Capex (2)…
  13. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 13
    Unique Scale and Industry Leading Returns Q4 2018 Production (Mboe/d) (1) Current Dividend Yield 4.9% 41.0% 58.0% 30.3% 5% 5% 3,277 5% % Permian of Current Production 2% 1,299 700 579 PF Oxy Oxy Major Average Top 10…
  14. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 14
    Appendix 15
  15. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 15
    Oxy Consistently Returns Capital to Shareholders 5,000 Dividend Sustainable at 40 WTI 3.50 4,500 Consecutive Dividend Growth Since 2002 - 12% CAGR 3.00 MM Returned to Shareholders 4,000 33 B of Total Capital Returned Since…
  16. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 16
    Enhances Oxy as The Leading Operator in the Permian Combined Permian Position Current Permian Net Production (Mboe/d) 600 500 24% 400 Midland Basin 300 76% 200 100 0 EOG(3) (3) FANG(2) RDS CVX LPI PF…
  17. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 17
    Leading Position in the DJ Basin DJ Basin Free Cash DJ DEVELOPMENT AREA Flow and 400,000+ net acres 250+ Mboepd of production Growth Oil Treating Online Additional NPV uplift from mineral interest ownership Potential 155 MBOPD…
  18. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 18
    Gulf of Mexico Position Gulf of Significant cash flow generation Mexico Infrastructure in place Stable Free allows for ample tie- Cash Flow back opportunities Three year outlook for production 140 Mboe/d Rate of Return and…
  19. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 19
    OxyChem: Market Leading Position OxyChem at a Glance Earnings Highlights Major global exporter of all core products Positive cash flow generation throughout cycle Top tier global producer in every product produced Integrated assets…
  20. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 20
    Leading Midstream Assets and MLP NM Selected Domestic Asset Overview Oxy Midstream & Marketing Western Midstream DJ Basin Domestic: 600 MM of distributions from owned Permian EOR infrastructure MLP units including 13 processing…
  21. Revised Acquisition of Anadarko Petroleum – Occidental Petroleum Corp – slide 21
    Original Low Carbon Ventures Strategy Transaction Expands Mission Scale and Expertise to Leverage Oxy's CO2 enhanced EOR Apply Oxys Low Carbon Strategy to Lead Energy infrastructure and expertise for economic and social benefit…

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