2 Todays Call 1 2 3 Strong 3Q financials and U.S. Domicile & Brand 2020 Outlook YTD 2019 highlights o Enables larger exposure to o Generate free cash flow and o CFPS beat passive capital markets competitive liquids growth o Raised…
3Q HIGHLIGHTS 3 Demonstrate Profitable Business Cash Flow Free Cash Flow Net Earnings 149 MM 817 MM 251 MM 0.62 / share Continued FCF 0.11 / share generation in 4Q19 Buyback Dividend Liquidity 197 MM +25% YTD 3.4B SHS.…
4 YTD 2019 Highlights Raised G&A synergy estimate post acquisition for 3rd time o 200 MM annualized G&A, (original 125 MM) o Anadarko D&C 1.4 MM per well Proven Free Cash Flow Generation Raised 19 production guidance while capital…
5 3Q19 Asset Level Highlights Permian Anadarko Production: 111 MBOE/D Production: 162 MBOE/D o Efficient growth: 13% YoY growth with 4-rig program o 57 Mbbls/d of oil and condensate volumes o Liquids up 16% YoY proforma Strong…
ANADARKO 6 Strong Operational Performance Current production of 162 MBOE/D o 2019 program tracking oil type curve All 2019 STACK Wells (103 Gross Meramec) (1) 150 o Base production contributing to outperformance Premium Black Oil…
ANADARKO 7 STACK Cubes Posting Consistent Results Encana Cube Wells (40 Gross) 1 Oil outperformance driving returns 150 o 40 high intensity ECA cube-style completions showing Mbbls (Oil) strong results at 6 8 wells per section…
8 STACK Competes Across Industry Driving Competitive returns Contiguous core acreage in heart of play Favorable royalty structure Industry leading D&C costs Advantaged marketing arrangements Efficient cost structure at scale…
9 U.S. Domicile Increases Access to Capital Why Highlights Shareholder friendly providing additional Passive investing trend continues to rise liquidity & capital market access Required for inclusion in many U.S. index funds U.S.…
10 U.S. Domicile Unlocks Value Increases equity liquidity & capital market access o U.S. domicile required to access many U.S. equity indices o Passive investing continues to gain momentum Equity Market o Unlocks value through…
11 Ovintiv: A New Brand for the New E&P Sustainable Innovation Capital Business and Discipline Model Technology To make modern life possible for all. Culture of Socially Agile and Excellence Responsible Adaptive NYSE:…
12 Strong Execution has Built a Strong Business Scale & capital discipline providing recurring free cash flow generation Liquids focus expanding cash flow margin (55% liquids production) Commitment to return of cash 1.25B buyback &…
13 2020 Outlook 2020: Free Cash Flow to Balance Sheet A B 2020 Free Cash Flow is top priority Generate free cash flow and Prioritize free cash flow over modest liquids growth at mid- growth if prices soften cycle prices…
14 Our Sustainable Business Roadmap Free Cash Flow Capital Discipline Balance Sheet Strength Dividend Growth Profitable Business at Multi-Basin Portfolio with Scale a Compelling Valuation Liquids Growth
3Q19 Conference Call October 31, 2019
20 Non-GAAP Measures - Reconciliations 2019 YTD Q3 Free 2019 Q3 Restructuring Acquisition Adjusted 2013 Non-GAAP Cash Flow 2013 As Impact of Impact of 2013 at Cash Flow Excluding YTD As Costs Costs Sensitivity Reported Gas Liquids…
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