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EnerCom Oil and Gas Conference – Occidental Petroleum Corp

Occidental Petroleum Corp · Aug 12, 2019 · 20 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. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 1
    August 2019 Enercom Presentation Cedric Burgher, Chief Financial Officer Occidental Petroleum Corporation
  2. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 2
    Positioned To Be The Innovative and Sustainable Energy Leader Technical Leader in Shale, CO2 Enhanced Oil Recovery, and Low Carbon Business Low Cost Leader through Large Scale Portfolio of Complementary Assets Return of Capital…
  3. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 3
    2018 Return On Capital and Return Of Capital 20% Returned 3.6 B to shareholders in 2018, including 1.3 B of share repurchases 15% OXY Since 2002, returned 34 B of Total Capital through 1Q19 Sector leading returns, achieved 14%…
  4. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 4
    Oxy Consistently Returns Capital to Shareholders Over 34 B of Total Capital Returned Since 2002 5,000 3.50 Dividend Sustainable Long-term at 40 WTI 4,500 Consecutive Dividend Growth Since 2002 - 11% CAGR1 3.00 4,000 Over 90% of…
  5. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 5
    Timeline for APC Acquisition APC Accepts CVX Initial Offer Increased Offer to Expressed CVX Offer 65/Share Offer 61.22/Share 76/Share Continued Interest, 64/Share Rejects Oxy All Stock 50% Cash Rejected by APC 25% Cash 76/Share…
  6. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 6
    Anadarko Acquisition Sources of Financing Weighted Average Cash Yield Less than 5% Cash Cost B Yield Term Loans1 8.8 3.0% Bonds Issued1 13.0 3.1% Berkshire Preferred 10.0 8.0% Total Cash Cost 31.8 4.6% Other Consideration B Oxy…
  7. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 7
    2020 Oil Hedges Three-Way Costless Collar Objectives Hedging Program Reduces 2020 Breakeven to 80 Short Call 74.09 Low 40 WTI range 75 70 Hedged 300 Mbod with Three-Way Costless 65 Short Put 45 Long Put Collars 55 Maintain…
  8. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 8
    Amplifies and Strengthens Our Value Proposition Expected Metrics for Combined Company 2x FCF after dividend vs prior 2022 plan1 2021 FCF yield of 12%2 2x cash flow upside to oil price with breakeven at 40 WTI Expands cash margin…
  9. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 9
    Oxys Combined Integrated Portfolio Oil & Gas OxyChem Midstream Focused in world class Leading manufacturer of Integrated infrastructure and basins with a history of basic chemicals and marketing provides access to maximizing recovery…
  10. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 10
    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…
  11. EnerCom Oil and Gas Conference – 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: 1.1 B 0.6 Capital Reduction: 1.5 B 0.5 Permian…
  12. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 12
    Excess Cash Generation Above Breakeven 8 2021 Excess Cash Generation After Dividend1 Production Growth 5% Capex 6.6 B 6 Production Growth 5% B 4 Capex 6.6 B Production Growth 5% 2 Capex 6.6 B Flat Production Capex 3.9 B…
  13. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 13
    Delaware Basin Synergistic Assets Oxy is competitively advantaged with experience in Oxy Aventine - Maintenance and Logistics Hub Delaware Basin geology and regional supply logistics Anadarkos acreage is located in the middle of…
  14. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 14
    Leading Delaware Basin Operator 6 Month Cumulative Oil Top 100 2018 Wells1 12 Month Cumulative Oil Top 100 2018 Wells2 Oxys subsurface expertise delivers Basin leading wells Oxy has 20%+ of the best wells, while only drilling 7% of for…
  15. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 15
    Oxys Play Leading Delaware Basin Performance Average 6 Month Cumulative Oil by Operator Oxys Subsurface Knowledge, Data Analytics and 160 Execution Drive Basin Leading Results 140 Top Delaware Basin Operator 120 Highest 6 month…
  16. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 16
    Basin Leading Improvement in Permian Resources Hz Unconventional Well Performance Well Performance 90 Day Cum Improvement 180 Day Cum Improvement 4D Frac Modeling +220% from 2015 to 2019 +147% from 2015 to 2018 250 +22% from 2018 to…
  17. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 17
    Measures of Success Milestones 2019 Divest 10 - 15+ B Advance close of Africa asset sale and Midland Basin JV assets Continue to execute deleveraging strategy Launch procurement and supply chain optimization Capture 2+ B annual…
  18. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 18
    Measures of Success Milestones 2020+ Divest 10 - 15+ B Complete non-core asset divestitures assets SG&A optimization Capture 2+ B annual Merge Oxys distinctive operational expertise with differentiating APC cost synergies practices…
  19. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 19
    Innovative and Sustainable Energy Leadership The New Oxy has greatly enhanced cash generating capability through commodity cycles Low Cost Portfolio Increasing Return of Capital Complementary and low risk portfolio Cash flow growth…
  20. EnerCom Oil and Gas Conference – Occidental Petroleum Corp – slide 20

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