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June 2019 Corporate Presentation – Chesapeake Energy Corp

Chesapeake Energy Corp · Jun 20, 2019 · 26 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. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 1
    JUNE 2019 UPDATE
  2. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 2
    BUSINESS STRATEGY Our strategy remains unchanged resilient to commodity price volatility Financial discipline Profitable and efficient growth STRATEGIC GOALS from captured resources Exploration Margin enhancement Business…
  3. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 3
    DELIVERING ON OUR STRATEGY 1Q19 HIGHLIGHTS 15.50 / boe Year-over-year adjusted EBITDAX margin oil production (1) Highest in four years increased 13% On track to deliver transformational oil growth and materially improved…
  4. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 4
    INVESTING IN OUR HIGHEST-MARGIN OPPORTUNITIES (2) Adj. EBITDAX/boe 2019 TIL Schedule 120 14.80(1) 100 12.81 10.83 High-margin 80 Oil-growth Assets 60 Cash-generating Gas Assets 40 Growth Optionality 20 0 17 '17…
  5. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 5
    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)…
  6. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 6
    ACCELERATING VALUE BRAZOS VALLEYS 90-DAY UPDATE 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…
  7. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 7
    DELIVERING ON EXPECTATIONS 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 2019E WRD…
  8. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 8
    OPERATIONAL EXCELLENCE DRIVING PRODUCTION IMPROVEMENTS Early wins Easy Rider Production Two-well pad with new flowback procedure 30,000 60,000 Average lateral length of 7,500' 25,000 50,000 35% 35% IP30 uplift based on type well…
  9. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 9
    OPTIMIZED COMPLETIONS YIELDING RESULTS Driving significant efficiencies 45% reduction in average stage pump time 30% reduction in pumped water while maintaining sand volume 190% improvement, 6.7 mbo,(1) over historic performance…
  10. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 10
    WE ARE JUST GETTING STARTED 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…
  11. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 11
    SOUTH TEXAS FREE CASH FLOW MACHINE Projected to generate 450mm in free cash flow(1) Optimized spacing and completions driving value Multi-zone high-margin oil growth potential Overview 2019 Activity(3) 2019 TIL Schedule(3)…
  12. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 12
    EAGLE FORD WELL SPACING ENHANCING PRODUCTION Significantly reduced parent-child EUR degradation with 660' spacing Increased spacing and larger completions contribute to lower decline rates Lowest well cost per foot operator on the…
  13. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 13
    EXPANDING INTO DIFFERENT HORIZONS Maximizing multi-bench recovery Drilled first CHK Lower Eagle Ford, Upper Eagle Ford and Austin Chalk co-development location Promising Austin Chalk results Will be developed over existing Lower…
  14. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 14
    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…
  15. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 15
    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% oil) on May 1…
  16. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 16
    EXPANDING POWDER RIVER 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 trucking Water…
  17. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 17
    MARCELLUS FOUNDATIONAL ASSET Projected to generate 400mm in free cash flow(1) Field optimized for spacing and lateral length January 2019 gross production record of 2.5 bcf/d Overview 2019 Activity(2) 2019 TIL Schedule(2)…
  18. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 18
    LONGER LATERALS MAXIMIZING VALUE CANNELLA 24HC Avg 30 days: 26 mmcfd* Longer laterals driving down F&D costs and CANNELLA 25HC Avg 30 days: 20 mmcfd* delivering strong recovery per foot BOREK 104H Avg 30 days: 37 mmcfd* BOREK 2H…
  19. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 19
    GULF COAST CONSISTENT PERFORMANCE Projected to generate 200mm in free cash flow(1) Access to premium markets Base optimization yielding significant results Overview 2019 Activity(3) 2019 TIL Schedule(3) 1Q19 Production 127…
  20. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 20
    ADVANCING THE HAYNESVILLE FIELD DEVELOPMENT PROGRAM Miles 0 10 20 JPIL Wells Lateral length designed for acreage footprint Springridge and drilling risk mitigation Mansfield Completion, drill out and flowback optimized for…
  21. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 21
    MID-CONTINENT GROWTH OPTIONALITY Redeployed capital to Powder River Integrating new 3D data and recent appraisal program results High-grading 2020 and 2021 program Overview 2019 Activity(2) 2019 TIL Schedule(2) 1Q19…
  22. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 22
    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…
  23. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 23
    HEDGING POSITION AS OF 5/3/19(1) W E I G H T E D A V E R A G E P R I C E OIL Volume (mmbbl) Fixed Call ( per bbl) Put Swaps: 2019 17.4 59.39 2020 11.4 59.32 Collars: 2019 4.4 67.75 58.00 2020 1.8 83.25 65.00 Swaptions: 2020 4.4…
  24. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 24
    BASIS HEDGES AS OF 5/3/19(1) CIG 2019: 8 bcf (0.89) / mcf Argus LLS vs Argus WTI 2019: 2.7 mmbbls 6.20 / bbl HSC 2019: 19.3 bcf 0.03 / mcf Argus Houston vs Argus WTI 2019: 3.4 mmbbls 5.16 / bbl (1) Does not reflect…
  25. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 25
    (1) DEBT MATURITY PROFILE 8.1 billion 7.0% 1.9 billion Unsecured Senior Notes WACD 1.2 billion CHK RCF Convertibles 688 million WRD RCF Revolving Credit Facility 3,000 BVL Unsecured 2,500 2,000 1,250 millions 700…
  26. June 2019 Corporate Presentation – Chesapeake Energy Corp – slide 26
    CORPORATE INFORMATION Headquarters Publicly Traded Securities Cusip Ticker 6.625% Senior Notes due 2020 165167CF2 CHK20A 6100 N. Western Avenue 165167BU0 Oklahoma City, OK 73118 6.875% Senior Notes due 2020 165167BT3 CHK20 WEBSITE:…

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