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Investor Presentation – EOG Resources, Inc.

EOG Resources, Inc. · Feb 24, 2014 · 37 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. Investor Presentation – EOG Resources, Inc. – slide 1
    NYSE Stock Symbol: EOG Investor Relations Contacts Common Dividend Pre-Split: 1.00 Maire A. Baldwin, Vice President IR Common Dividend Post-Split: 0.50 (713) 651-6364, Fax (713) 651-6473 Basic Shares Outstanding: 273.1 Million…
  2. Investor Presentation – EOG Resources, Inc. – slide 2
    Operations 40% YOY Crude Oil Growth and 9% Total Company Production Growth Increased Total Company Net Proved Developed Reserves 19% Achieved 264% Total Proved Reserve Replacement* at 13.42 All-in Finding Cost* Increased Eagle Ford…
  3. Investor Presentation – EOG Resources, Inc. – slide 3
    Best Hz Crude Oil Assets in North America Strong Organic Crude Oil Production Growth - 2011 +52% - 2012 +39% 39% 4-Year CAGR - 2013 +40% - 2014E* +27% Differentiators Strong Liquids Growth Driven by Crude Oil, Not Condensate or…
  4. Investor Presentation – EOG Resources, Inc. – slide 4
    Extending Our Lead in Oil Grow Crude Oil 27% and Total Production 11.5% YOY* Capital Spending Targeted to High ATROR** Oil Plays - Eagle Ford, Bakken/Three Forks and Leonard - No North American Dry Gas Drilling Continue to Add to…
  5. Investor Presentation – EOG Resources, Inc. – slide 5
    Majority of Capex Increase Going to Top 3 Plays: 2014* Eagle Ford, Bakken and Leonard 10 Gathering, Exploration and 9 8.1 to 8.3 Bn Processing Development 8 and Other Facilities 7.1 Bn Gathering, 7 Exploration & 10% 11%…
  6. Investor Presentation – EOG Resources, Inc. – slide 6
    2,600 2,400 Bakken and Eagle Ford 76% of Current Horizontal Crude Oil Production* 2,200 Eagle Ford 2,000 1,800 1,023 MBod* 1,600 Rate of 1,400 Growth Slowing 1,200 1,000 800 896 MBod* Bakken 600 400 200 0 Jan…
  7. Investor Presentation – EOG Resources, Inc. – slide 7
    8,000 7,768 7,500 7,067 7,000 2013 YTD Growth Rate 0.70 MMbod Annualized 2013 Rate 0.76 MMbod 6,500 6,000 6,028 2012 Growth Rate = 1.04 MMbod 5,500 Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar…
  8. Investor Presentation – EOG Resources, Inc. – slide 8
    Clearbrook, MN Bakken Innovator for Crude-by-Rail 100 5 Years Experience Access to Premium Markets and Pricing - 2013 U.S. Oil Price Averaged 5.81/Bbl Over WTI WTI 103 Provides Market Flexibility Cushing, OK EOG-Owned…
  9. Investor Presentation – EOG Resources, Inc. – slide 9
    Onshore Lower 48 Texas September 2013 - Mbod September 2013 - Mbod 300 287 284 202 162 190 152 173 121 114 EOG OXY CVX APA CHK EOG OXY CHK PXD COP * Source: IHS - Gross operated crude oil and condensate production.…
  10. Investor Presentation – EOG Resources, Inc. – slide 10
    Big Three Shale Plays Eagle Ford Eagle Ford, Bakken,** Permian*** January 2011 - September 2013 January 2010 - September 2013 Cumulative Gross Oil Production (MMbo) 90 180 Cumulative Gross Oil Production (MMbo) EOG EOG 80…
  11. Investor Presentation – EOG Resources, Inc. – slide 11
    Crude Oil and Condensate (Mbod) 280 220 158 113 75 55 2009 2010 2011 2012 2013 2014E* * Based on mid-point of full-year 2014 production estimates as of February 24, 2014. EOG_0214 v2-10
  12. Investor Presentation – EOG Resources, Inc. – slide 12
    2014 Drilling Oil Net Wells Years* Eagle Ford 520 12 Bakken/Three Forks** 80 8 Delaware Basin Leonard 40 40+ Combo Delaware Basin Wolfcamp 14 75+ Midland Basin Wolfcamp 10 50+ 15 Years of Drilling * Based on current…
  13. Investor Presentation – EOG Resources, Inc. – slide 13
    2011 2012 2013 2014E* 2015E - 2017E Crude Oil and Condensate 52% 39% 40% 27% Continued Best-in-Class NGLs 39% 32% 17% 12% Double-Digit Growth Total Company Liquids 48% 37% 34% 24% North American Gas -7% -9% -13% -6% Flat Other…
  14. Investor Presentation – EOG Resources, Inc. – slide 14
    88% 88% 86% NGLs 79% 76% 71% 72% 59% 53% Oil 47% 41% 29% 28% 24% 21% 14% 12% 12% 2006 2007 2008 2009 2010 2011 2012 2013 2014E** Liquids (Crude Oil and NGLs) Natural Gas * 2006 - 2013 based on North American…
  15. Investor Presentation – EOG Resources, Inc. – slide 15
    ROE ROCE 17.3% 15.6% 13.7% 12.4% 11.8% 9.4% 2012* 2013* 2014E** 2012* 2013* 2014E** * See reconciliation schedule. ** Goldman Sachs estimates February 7, 2014 96.50 WTI and 4.25 Henry Hub in 2014. EOG_0214 v2-14
  16. Investor Presentation – EOG Resources, Inc. – slide 16
    2013 ROE 2013 ROCE 15.6% 12.4% 12.0% 9.9% 10.0% 9.8% 9.5% 8.2% 8.1% 7.9% 9.4% 9.0% 7.7% 7.7% 7.5% 7.4% 8.3% 8.1% EOG* Co. 1 Co. 2 Co. 3 Peer Co. 4 Co. 5 Co. 6 Co. 7 EOG* Co. 1 Co. 2 Peer Co. 3 Co. 4 Co. 5 Co. 6 Co. 7 Avg…
  17. Investor Presentation – EOG Resources, Inc. – slide 17
    % Crude Oil Revenues 45.00 100% 40.14 40.00 35.00 34.11 80% 30.00 29.29 77% 71% 60% 25.00 20.04 56% 20.00 40% 15.00 41% 10.00 20% 5.00 0.00 0% 2010 2010 2011 2011 2012 2012 2013 2013 * Wellhead Revenues for Crude…
  18. Investor Presentation – EOG Resources, Inc. – slide 18
    Annual Dividend Rate Net Debt-to-Total Cap*** 0.50 30% 33% 29% 26% 0.375 23% 0.32 0.34 0.31 2010* 2011* 2012* 2013* 2014E** 2010 2011 2012 2013 * Adjusted for 2-for-1 stock split effective March 2014. ** Indicated…
  19. Investor Presentation – EOG Resources, Inc. – slide 19
    Total Company Net Proved Reserves YE 2013 Increased 17% to 2,119 MMBoe Increased Total Company Net Proved Liquids Reserves 25% to 1,278 MMBbls - Liquid Reserves Increased to 60% of Total Reserves Total Company Reserve Replacement*…
  20. Investor Presentation – EOG Resources, Inc. – slide 20
    Largest Oil Producer and Acreage Holder in the Eagle Ford - 2013 Oil Production Up 69% YOY - 178 MBoed, Net at December 31, 2013 San Antonio Continued Outstanding Well Results Across Acreage - Gonzales: Rudolph Unit 1H - 4,230 Bopd…
  21. Investor Presentation – EOG Resources, Inc. – slide 21
    Increased Estimated Potential Reserves* by 45% 250% Increase in Reserve Potential Oil MMBo 2,200 Since Discovery NGLs MMBbl 520 Gas Bcf 2,800 (BnBoe)* Total MMBoe, Net to EOG 3,200 3.2 Increased Total Well Count to 7,200, Net -…
  22. Investor Presentation – EOG Resources, Inc. – slide 22
    April 2010 Feb 2012 Feb 2013 Feb 2014 Wells/Section (Unit) 5 10 10 - 16 16 Spacing Acres/Well 130 Acres 65 Acres 40-65 Acres 40 Acres Est. Reserves/Well, NAR 320 MBoe 450 MBoe 400 MBoe 450 MBoe Est. Reserves/640 Acres 1.6 MMBoe…
  23. Investor Presentation – EOG Resources, Inc. – slide 23
    2014 Operations Well Economics 100% Direct ATROR* and Continue to Climb Reached Efficient Manufacturing Mode Plan to Drill 520 Net Wells, 26-Rig Program Continue to Decrease Number of Drilling Days,…
  24. Investor Presentation – EOG Resources, Inc. – slide 24
    - Average Oil IP Rate* Completed Well Cost* (Bopd) (MM) 2,077 7.2 1,879 6.9 6.1 1,493 5.5 2011 2012 2013 2011 2012 2013 2014 Target * Normalized to 5,300-foot lateral EOG_0214 v2-23
  25. Investor Presentation – EOG Resources, Inc. – slide 25
    207 152 127 74 33 2009 2010 2011 2012 2013 EOG_0214 v2-24
  26. Investor Presentation – EOG Resources, Inc. – slide 26
    Dreyer Unit 13H and 14H Kaiser Sr. D Unit 1H IPs: 3,240 and 2,995 Bopd + 405 and Nichols Unit 3H IP: 2,750 Bopd + 100 Bpd 355 Bpd of NGLs + 2.3 and 2.1 MMcfd IP: 3,830 Bopd + 390 Bpd of NGLs + of NGLs + 580 Mcfd 2.3 MMcfd Four K…
  27. Investor Presentation – EOG Resources, Inc. – slide 27
    Transformed into High ROR Crude Oil Growth Play Canada New Frac Technology Improves Recovery and Returns; State Line Stanley, ND Delivering 100% Direct ATROR* from Core and Antelope Bakken 86 MBoed Gross Production YE 2013, 38%…
  28. Investor Presentation – EOG Resources, Inc. – slide 28
    Average Cumulative Oil Production* Average 30-Day Oil IP Rate* (100 Days) (Bopd) (Bo) 63% 200,000 Improvement 1,342 160,000 2013 120,000 894 2012 80,000 40,000 0 0 100 200 300 400 2012 2013 (Days) * Normalized…
  29. Investor Presentation – EOG Resources, Inc. – slide 29
    Midland Basin New Mexico Texas Delaware Basin Leonard Wolfcamp Wolfcamp OOIP**/ Net Potential Net Drilling Potential Section Reserves*** Acres Years* Locations (MMBoe) (MMBoe) Delaware Basin Leonard 73,000 40…
  30. Investor Presentation – EOG Resources, Inc. – slide 30
    Both a Production and Exploration Play NGLs EOGs 3rd Best ROR Play 26% 73,000 Net Acres Oil Gas 50% - At Least 3 Potential Pay Zones 24% Estimated Reserve Potential* 550 MMBoe, Net to EOG Estimated EUR/Well 500 MBoe, Gross; 400…
  31. Investor Presentation – EOG Resources, Inc. – slide 31
    134,000 Net Acres - New Leases and Trades Have Increased Position - 3 Potential Pay Targets Estimated Reserve Potential* 800 MMBoe, Net to EOG NGLs Oil - Based on Low Initial Recovery Estimate, 2% - 3% 33% 31% Operations Gas…
  32. Investor Presentation – EOG Resources, Inc. – slide 32
    Play Net Type Acres Marcellus, Bradford County 46,000 Gas Haynesville 143,000 Gas and Combo Eagle Ford 68,000 Gas Barnett 298,000 Gas and Combo Uinta 94,000 Gas and Combo S. Texas Frio/Vicksburg 195,000 Gas and Combo Horn River 127,000…
  33. Investor Presentation – EOG Resources, Inc. – slide 33
    Trinidad and Tobago Trinidad ATLANTIC Expect Full Contract Deliverability in 2014 OCEAN TRINIDAD 4(a) 2014 Drilling Program to Maintain Deliverability U(b) U(a) Beyond 2014 SECC - 3-Well Development Program…
  34. Investor Presentation – EOG Resources, Inc. – slide 34
    Maintain Low Net Debt-to-Total Cap Ratio - Credit Ratings Moodys A3 / S&P A- Successful Efforts Accounting Zero Goodwill YE 2013 Dividend Increase 33% - 15 Increases in 15 Years - Largest Increase to Date EOG Reserves Within 5% of…
  35. Investor Presentation – EOG Resources, Inc. – slide 35
    Crude Oil* 2014 Bbld /Bbl January 1 to June 30 168,500 96.44 July 1 to December 31 64,000 95.18 Natural Gas* 2014 MMBtud /MMBtu February (Closed) 710,000 4.57 March 1 to December 31 330,000 4.55 2015 January 1 to December 31…
  36. Investor Presentation – EOG Resources, Inc. – slide 36
    All About Oil Grow Crude Oil 27% YOY* Focus on Key Assets - Eagle Ford, Bakken/Three Forks and Leonard Improve Recovery in Existing Plays Identify and Capture New Greenfield Oil or Combo Plays No North American Dry Gas…
  37. Investor Presentation – EOG Resources, Inc. – slide 37
    EOG Has Largest Proven U.S. Horizontal Drilling Oil Inventory in Entire Industry EOG Has Captured Low-Cost, First-Mover Advantage Key Differentiator Consistently High Financial Returns Horizontal Oil Assets Will Drive Strong 2014+…

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