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Annual General Meeting – Chesapeake Energy Corp

Chesapeake Energy Corp · May 17, 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. Annual General Meeting – Chesapeake Energy Corp – slide 1
    2019 ANNUAL MEETING OF SHAREHOLDERS May 17, 2019
  2. Annual General Meeting – Chesapeake Energy Corp – slide 2
    BUSINESS STRATEGY Our strategy remains unchanged resilient to commodity price volatility Financial discipline NEAR-TERM PRIORITIES Profitable and efficient growth from captured resources Margin enhancement Exploration Free cash…
  3. Annual General Meeting – Chesapeake Energy Corp – slide 3
    LEVERAGE REDUCTION PROGRESS Significant Reduction in Balance Sheet Liabilities 20,000 millions 15,000 15,840 15,455 10,000 11,943 11,646 11,194 10,710 10,860 5,000 2012 2013 2014 2015 2016 2017 2018(1) 0 2012 2013 2014…
  4. Annual General Meeting – Chesapeake Energy Corp – slide 4
    CAPITAL EFFICIENCY AND MARGIN IMPROVEMENT Cash Flow Improvement 16.0 30.00 14.0 25.00 12.0 20.00 10.0 billions /boe 8.0 15.00 6.0 10.00 4.0 5.00 2.0 0.0 0.00 2012 2013 2014 2015 2016 2017 2018 2019E 2019E…
  5. Annual General Meeting – Chesapeake Energy Corp – slide 5
    CAPITAL EFFICIENCY AND MARGIN IMPROVEMENT Cash Flow and Margin Improvement 16.0 30.00 14.0 25.00 12.0 20.00 10.0 billions /boe 8.0 15.00 6.0 10.00 4.0 5.00 2.0 0.0 0.00 2012 2013 2014 2015 2016 2017 2018…
  6. Annual General Meeting – Chesapeake Energy Corp – slide 6
    PRODUCTION EXPENSE IMPROVEMENT Production Expense Reduction 1,400 5.25 1,200 4.50 1,000 3.75 millions 800 3.00 /boe 600 2.25 400 1.50 200 0.75 0 0.00 2012 2013 2014 2015 2016 2017 2018 2019E…
  7. Annual General Meeting – Chesapeake Energy Corp – slide 7
    OVERHEAD REDUCTION Total Overhead Cost Reduction 1,800 8.00 1,600 7.00 1,400 6.00 1,200 5.00 millions 1,000 /boe 4.00 800 3.00 600 2.00 400 200 1.00 0 0.00 2012 2013 2014 2015 2016 2017 2018 2019E…
  8. Annual General Meeting – Chesapeake Energy Corp – slide 8
    DIVERSE & STRONG PORTFOLIO CORE POSITIONS ACROSS MULTIPLE BASINS Powder River Basin: Oil Growth Engine Marcellus: Foundational Asset DAILY PRODUCTION AVERAGE (1) Mid-Continent: Growth Optionality 484 mboe TOTAL 2019…
  9. Annual General Meeting – Chesapeake Energy Corp – slide 9
    BRAZOS VALLEY STRATEGIC PORTFOLIO ADDITION Asset projected to be free cash flow positive in 2019(1) Capturing expected capital improvements and base optimization Reservoir characterization underway Overview 2019 Activity(3)…
  10. Annual General Meeting – Chesapeake Energy Corp – slide 10
    BRAZOS VALLEY 90-DAY UPDATE ACCELERATING VALUE 500k per Drilled first extended lateral well savings 9,800' LL Achieved 1mm on individual wells Plan to average 9,000' in 2019 In 2019, asset projected to be cash flow positive…
  11. Annual General Meeting – Chesapeake Energy Corp – slide 11
    BRAZOS VALLEY KEY PERFORMANCE INDICATORS IP90 of Oil Wells by TIL Date (boe/d) Lateral Length by Spud Date (ft) 1,000 10,000 800 8,000 600 6,000 35% 25% 400 increase 4,000 increase 200 2,000 0 0 2017 2018 2019E 2017 2018…
  12. Annual General Meeting – Chesapeake Energy Corp – slide 12
    BRAZOS VALLEY Continuing to accelerate value through: Driving additional cost savings Shifting focus to high-margin oil window Leveraging CHK technology to optimize field development Improving choke management on flowbacks…
  13. Annual General Meeting – Chesapeake Energy Corp – slide 13
    POWDER RIVER BASIN OIL GROWTH ENGINE Averaged 39 mboe/d (46% oil) in April Project 100% YOY oil growth in 2019 Turner in full development Overview 2019 Activity(2) 2019 TIL Schedule(2) 1Q19 Production 36 mboe/d(1) Wells to…
  14. Annual General Meeting – Chesapeake Energy Corp – slide 14
    POWDER RIVER BASIN DRIVING RECORD RESULTS IN THE TURNER Single well production record RRC 5 well 4,000 boe/d 3,000 bo/d Pad production record BB2 pad 9,000 boe/d 7,800 bo/d 7,200 mcf/d Field production record Net 42 mboe (48%…
  15. Annual General Meeting – Chesapeake Energy Corp – slide 15
    POWDER RIVER BASIN EXPANDING MARGINS Oil sales line began flowing 5/3/19 15% field volumes currently being piped GP&T/boe expected to be reduced by more than 25% in 2019 KEY DRIVERS Gathering agreements eliminate 2/bbl for…
  16. Annual General Meeting – Chesapeake Energy Corp – slide 16
    HSER PERFORMANCE BEST IN CLASS PROTECTING OUR EMPLOYEES PROTECTING THE ENVIRONMENT REGULATORY COMPLIANCE LEADER Total Recordable Incident Rate Reportable Spills Notice of Regulatory Violations Incident Count 0.51 133 182…
  17. Annual General Meeting – Chesapeake Energy Corp – slide 17
    PRESERVING AIR QUALITY, REDUCING AIR EMISSIONS We are reducing well lifecycle emissions through: Enhanced facility design, equipment optimization and process management Identifying and adopting new technologies that reduce our…
  18. Annual General Meeting – Chesapeake Energy Corp – slide 18
    HOW WE REDUCE GREENHOUSE GAS (GHG) EMISSIONS Zero, low to intermittent-bleed pneumatic controllers Increased pipeline infrastructure Leak Detection and Repair (LDAR) Vapor recovery units Automatic tank gauging More than…
  19. Annual General Meeting – Chesapeake Energy Corp – slide 19
    PEER COMPANY GHG EMISSIONS INTENSITY 30 2018 CHK Avg: 6.9 2017 Peer Group Avg: 15.6 Kilograms CO2e/boe 20 10 0 APC CHK WRD PXD DVN EQT XEC NFX AR APA NBL ECA RRC 2015 2016 2017 2018 CO2e = Carbon Dioxide…
  20. Annual General Meeting – Chesapeake Energy Corp – slide 20
    CONTINUING TO DELIVER EXECUTING OUR STRATEGY Further improvements in capital efficiency and productivity Constantly pursuing opportunities to reduce debt and improve leverage metrics Driving toward free cash flow neutrality…
  21. Annual General Meeting – Chesapeake Energy Corp – slide 21
    2019 ANNUAL MEETING OF SHAREHOLDERS May 17, 2019

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