Skip to main content 3Q 2019 Earnings Presentation – Occidental Petroleum Corp | Shale Experts
Loading...
Database
Slide Database

3Q 2019 Earnings Presentation – Occidental Petroleum Corp

Occidental Petroleum Corp · Nov 5, 2019 · 43 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. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 1
    Third Quarter Earnings Conference Call Occidental Petroleum Corporation November 05, 2019
  2. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 2
    Occidental Petroleum Third Quarter Highlights 2020 Production and Capital Synergy Capture Update Permian Execution Financial Summary and Guidance Closing Remarks 3
  3. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 3
    Built For Full Cycle Success Diversified Portfolio Complementary businesses drive cash flow Permian Resources growth Permian EOR High-return short-cycle cash flow generating DJ Basin assets Powder River Gulf of Mexico Decades of…
  4. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 4
    3Q19 Highlights Transaction Close Completed acquisition of Anadarko ahead of schedule Completed 3.9 B sale of Mozambique; divested Plains interests for net proceeds of Divestitures 650 MM; closing of other announced divestitures on…
  5. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 5
    Occidental Petroleum Third Quarter Highlights 2020 Production and Capital Synergy Capture Update Permian Execution Financial Summary and Guidance Closing Remarks 6
  6. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 6
    2020 Capital Program by Asset2 ( B) 2020 Capital Budget Permian Resources Permian EOR 9.0 B Rockies OxyChem Key Program Highlights 0.4 International Exploration & Corporate 0.1 GOM Marketing & Other 2019 spending expected to be within…
  7. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 7
    Occidental Petroleum Third Quarter Highlights 2020 Production and Capital Synergy Capture Update Permian Execution Financial Summary and Guidance Closing Remarks 8
  8. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 8
    Capital Synergies to be Delivered by 2021 10 Capital Synergies Capital Reduction 9 Capital Synergies 9.0 B 0.9 B Drill, Complete, & Equip: Design & Execution Savings 8 1.5 B Permian Basin 500 MM 7 DJ Basin 105 MM 6 6.6 B Other…
  9. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 9
    2021 Well Cost Capital Synergy Detail TX Del Per Well Savings 3.1 MM 605 MM Multi-well pad drilling Drilling optimization 0.4 MM 0.5 MM Approximate Net Well Cost Savings Completion design 0.8 MM Wells 110 Commercial improvements…
  10. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 10
    Best-in-Class Capital Intensity 50% Improvement in Capital Intensity on Legacy Anadarko Permian Assets Permian Resources Capital Intensity 47 MM/Mboepd Oxys world-class Permian Resources portfolio, unique 43 subsurface capability,…
  11. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 11
    1.1 B Overhead and Opex Synergies Captured by 2021 3.5 Overhead Synergies 3.0 3.1 B Workforce Alignment 0.9 B Executive 110 MM 2.5 Employee/Contractor 385 MM Asset Rationalization 225 MM 2.0 2.2 B Real Estate and Other 180 MM 900 MM…
  12. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 12
    Synergy Tracker On Track to Meet or Exceed Targets Annualized Pre-Tax Synergies Annual Synergies Identified and and Capital Capital Reduction Reduction Achieved Captured (1B) ( B) 4.0 Target 1.5 B 3.5 B 3.5 Identified 3.0…
  13. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 13
    Occidental Petroleum Third Quarter Highlights 2020 Production and Capital Synergy Capture Update Permian Execution Financial Summary and Guidance Closing Remarks 14
  14. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 14
    Permian Execution Excellence Permian Resources Subsurface Technical Basin-leading Next generation 4D frac model enhancing landing, spacing, and Excellence Wells minimizing parent-child impacts Oxy has the most top 100 wells in the…
  15. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 15
    Leading Delaware Basin Well Performance 6 Month Cumulative Oil Top 100 Wells1 12 Month Cumulative Oil Top 100 Wells2 Oxys subsurface expertise delivers Basin leading wells Oxy has 20%+ of the best wells, while drilling less than for…
  16. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 16
    Occidental Petroleum Third Quarter Highlights 2020 Production and Capital Synergy Capture Update Permian Execution Financial Summary and Guidance Closing Remarks 17
  17. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 17
    3Q19 Results Reported 3Q19 Pro Forma Production1 Mboed Legacy Oxy 737 Adjusted EPS 0.11 Legacy Anadarko 654 Reported diluted EPS (1.08) Total Combined Oxy 1,391 3Q19 CFFO before working capital 0.3 B Excluding 3Q19 merger related…
  18. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 18
    4Q 2019 Guidance Estimates Oil & Gas Segment DD&A 4Q19 4Q19 Production Oil & Gas: 14.60 / boe Total production of 1,312 1,336 Mboed OxyChem and Marketing & Other Midstream: 170 MM Permian Resources production of 449 459 Mboed…
  19. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 19
    Applying Asset Divestiture Proceeds + FCF Debt Reduction to Debt Reduction ( B) Tracker 10 10.0 B Contracted/Pending Close Net proceeds of 10-15 B 9 Midland JV from asset divestitures will 8 be applied to debt reduction 7 Remaining…
  20. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 20
    Occidental Petroleum Third Quarter Highlights 2020 Production and Capital Synergy Capture Update Permian Execution Financial Summary and Guidance Closing Remarks 21
  21. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 21
    Leader in Lower Permian Emissions Intensity Strategically Focused on Greenhouse Gas Emissions Reductions Low Emission Intensity with Leading Basin Production Low Emission Intensity with More Producing Wells 50 Permian Greenhouse…
  22. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 22
    Innovative and Sustainable Energy Leader Operating Best in class operator with top wells Industry leading safety record Low cost operator Unmatched reservoir characterization and subsurface ability Infrastructure advantage to…
  23. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 23
    Appendix Contents Financial Information Acreage and Overview Well Performance and Cost Governance 24
  24. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 24
    Oxy Consistently Returns Capital to Shareholders Over 35 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…
  25. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 25
    Cash Flow Sensitivities Oil & Gas Annualized cash flow changes 260 MM per 1.00 / bbl change in oil prices 240 MM per 1.00 / bbl change in WTI prices 20 MM per 1.00 / bbl change in Brent prices Annualized cash flow changes 35 MM per…
  26. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 26
    Pro Forma Production 3Q19 and FY2019 Net MBOED 3Q Actuals Net MBOEPD FY Guide Total Company 1,391 Total Company 1,359 - 1,365 Legacy Oxy 737 Legacy Oxy 726 - 729 Legacy Anadarko 654 Legacy Anadarko 633 - 636 Permian Resources 457…
  27. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 27
    2019 Cash Flow and Cash Balance Reconciliation B 5.9 (2.0) (4.1) 21.5 (27.9) 10.0 (4.9) 3.9 5.4 3.0 Beginning CFFO Before Preferred Proceeds from Working Dividends & Capital Cash Debt Ending Cash Cash Balance Working Stock…
  28. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 28
    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 Overhead/Opex Synergies: 1.1 B 0.6 Capital Reduction: 0.5 1.5 B Permian…
  29. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 29
    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…
  30. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 30
    Appendix Contents Financial Information Acreage and Overview Well Performance and Cost Governance 31
  31. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 31
    Oxys Combined Integrated Portfolio Oil & Gas OxyChem Oxy Midstream and WES Focused in world class Leading manufacturer of Integrated infrastructure and basins with a history of basic chemicals and marketing provides access to…
  32. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 32
    Largest U.S. Acreage Holder 14.4 MM Net Total U.S. Acres Rockies Permian 1.5 MM Acres 3.1 MM Acres Powder River Basin 0.4 MM Permian Unconventional 1.7 MM DJ Basin 0.9 MM Excludes acreage outside of active operating Permian…
  33. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 33
    U.S. Onshore Overview Rockies Land Grant Permian 1.5 MM Acres 7.0 MM Acres1 3.1 MM Acres 3Q19 Net Pro Forma Production Oil NGLs Gas Total (MBOED) (MBBLD) (MMCFD) Permian Resources 255 107 570 457 Permian EOR 116 30 45 154 DJ…
  34. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 34
    Gulf of Mexico Overview Gulf of Mexico 1.0 MM Acres 3Q19 Net Pro Forma Production Total Oil (MBOED) 127 NGLs (MBBLD) 10 Gas (MMCFD) 88 Total 152 35
  35. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 35
    International Overview Colombia U.A.E. Oman 2.0 MM Acres 1.5 MM Acres 6.0 MM Acres 3Q19 Net Production Oil NGLs Gas Total (MBOED) (MBBLD) (MMCFD) Latin America 32 - 8 33 Al Hosn 14 25 246 80 Dolphin 7 8 171 44 Oman 66 -…
  36. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 36
    WES Overview Premier Asset Portfolio 24 6 Gathering Natural Gas DJ BASIN Systems Pipelines WHITE CLIFFS FRONT RANGE 73 13 Processing & Crude Oil/NGL SADDLEHORN DELAWARE BASIN TEXAS EXPRESS Treating Facilities…
  37. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 37
    Appendix Contents Financial Information Acreage and Overview Well Performance and Cost Governance 38
  38. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 38
    Basin Leading Improvement in Permian Resources Hz Unconventional Well Performance Well Performance 180 Day Cum Improvement 1st Year Cum Improvement 4D Frac Modeling +200% from 2015 to 2019 +124% from 2015 to 2018 350 +24% from 2018 to…
  39. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 39
    Oxys Play Leading Delaware Basin Performance Average 12 Month Cumulative Oil by Operator Oxys Subsurface Knowledge, Data Analytics, and 250 Execution Drive Basin Leading Results 200 Top Delaware Basin Operator Highest average 12…
  40. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 40
    TX Delaware Legacy Anadarko Capital Well Cost Synergies TX Delaware Per Well Savings ( MM) (Avg Lateral Length 8,950) 3.1 MM Targeted Well Cost Synergies by 2021 Well D,C,E Production Facilities Drilling, Completion, Hookup Synergies…
  41. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 41
    DJ Basin Capital Well Cost Synergies DJ Basin Per Well Savings ( MM) 0.6 MM Targeted Well Cost Synergies by 2021 (Avg. Lateral Length 8,186) Well D,C,E Production Facilities Drilling, Completion, Hookup Synergies 5 Completion…
  42. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 42
    Appendix Contents Financial Information Acreage and Overview Well Performance and Cost Governance 43 43
  43. 3Q 2019 Earnings Presentation – Occidental Petroleum Corp – slide 43
    Highly Skilled and Diverse Board Provides Strategic Oversight Focused on Creating Shareholder Value Board recently announced its intention to recommend, at Independence the 2020 Annual Meeting, proposals to amend Occidentals charter…

From the store

Browse maps, data & reports in the Shale Experts store