2019 Capital Budget & Operating Plan Supplemental Information & Investor Update U P DAT E D A S O F M AY 2 0 1 9
2019 Capital Budget & Operating Plan 2019 Highlights Capital (B) Production (MBOED) Pro-forma2 for 2019 capital guidance of 6.1B Corp & Other Corp & Other announced 25 APME APME acquisitions and 2019 production 1,300 1,350;…
2019 Capital Allocation Underscores Low-Risk, High-Value Portfolio 2019 Capital Allocation LNG & Oil Sands 100% 40-50 Exploration 70% directed toward Major Projects development programs 75% Unconventional 30-40 70% to be spent…
Recommitting to Our Priorities & Portfolio
2018 Highlights Delivering on Our New Order Value Proposition Strategy Financials Operations Portfolio Delivered on priorities 5.3B adjusted earnings; Safely executed capital Completed high-value 4.54 adjusted EPS program scope…
New Order Value Proposition Is Right For the Business Were In Todays E&P Industry Is Capital Intensive Mature Cyclical To Win, A Strategy Framework Must Address These Realities What portfolio do we How do we allocate How do we…
Our Value Proposition Delivers Superior Returns Through Cycles THE RIGHT PORTFOLIO CONSISTENT PRINCIPLES DISCIPLINED PRIORITIES Invest capital to sustain Low Returns Focused 1st production and pay Low Cost RETURNS PRIORITY…
9
Growing Resource Base, While Lowering Cost of Supply Low Cost of Supply1 Resource Base YE2018 Resource…
Peer-Leading Sustaining Price: Key to New Order Value Proposition Cash Sources Cash Uses…
2019 Operating Plan on a Page Maintain discipline & continued focus on free cash flow generation 6.1B capital expenditures budget Deliver per-share cash flow expansion from low-CoS investments FY19 production 1,300 -1,350 MBOED…
Alaska: Significant Future Exploration & Appraisal Planned 2019 Program Focused on Existing Discoveries 2020+ Program Focused on Remaining Potential Resolve Remaining Uncertainties to Sanction Test Full Prospect Inventory N AT I O N A…
2019 Montney Appraisal: Expanded Liquids-Rich Resource Base 2013 COP acreage 2013-2017 acquisitions 2018 acquisitions 14-well pad to be drilled and completed in 2019; 2017 appraisal wells testing well spacing and stacking 14-well…
2019 Lower 48 Big 3 Unconventionals: Maximizing Value Big 3 Production1 (MBOED) 350 25% CAGR BIG 3 PRODUCTION 2017 to 2019 298 Significant outperformance in 2018 vs 217 2017 AIM Expect to run 10-11 operated rigs Willing to…
Continuous Learning & Optimization of Completions Drives Value Evolution of ConocoPhillips Eagle Ford Completion Design Eagle Ford Cumulative Production1 Vintage 1 Vintage 2 Vintage 3 Vintage 4 2012 2014 2016 2017+ 400 Vintage 4…
Louisiana Austin Chalk: Emerging Liquids Play Currently hold 225 M net acres; acquired MS TEXAS LA…
2019 Cash Sources & Uses at 50/BBL WTI
2019 Plan at 50/BBL: Commitment to Shareholder Payout Estimated Sources and Uses of Cash (2019) at 50/BBL WTI 50% Starting Cash1 & 4B Available Cash Proceeds2 CFO return to shareholders Investment for CFO Expansion (2.3B)…
Production & Margin Growth Drive Cash Flow Expansion Cash Flow Sensitivities for 1/BBL Change 265MM WCS Cash flow price sensitivity 235MM 5% NA Gas L48 NGL increased 30MM per WCS NA Gas 7% Margin WTI 1/BBL change driven by: L48…
Appendix
22
2019 Annualized Net Income Sensitivities Crude: Brent/ANS: 155-175MM for 1/BBL change WTI: 30-40MM for 1/BBL change WCS: 10-15MM for 1/BBL change Does not incorporate contingent payment of CA6MM quarterly for every CA1 WCS price…
2019 Annualized Cash Flow Sensitivities Consolidated Operations Equity Affiliates1 (45-75/BBL WTI) (45-75/BBL Brent) Crude Expect distributions from all equity affiliates at Brent/ANS: 155-165MM for 1/BBL change 45/BBL Brent WTI:…
Loading...
