Maintaining Focus During Unprecedented Times Strong results in a challenging environment Amid tremendous commodity volatility, our ongoing response to the COVID-19 global pandemic, and a challenging year for our industry, we have…
Capital Efficiency Outperforming on Differentiated Execution Successfully positioned for FCF at prices well below forward curve Low 2Q20 capex of 137MM and strong 2Q20 total oil production of 197 MBOPD on capital efficiency…
2020 Capital Program & Guidance Update Lowering full year capex while protecting operational momentum 2020 capex guidance reduced to 1.2 billion on 2020 Gross Wells to Sales by Quarter strong execution and capital efficiency 100…
Total Company Cash Flow for 2Q20 Ending cash balance impacted by working capital Ended 2Q20 with 522MM cash balance and undrawn revolving credit facility of 3.0B Pro-Forma July 3rd cash balance of 611MM after receipt of Alternative…
Competitively Advantaged Multi-Basin Model High quality U.S. assets span development cycle Explore Appraise / Delineate Early Development Full Field Development Bakken 2Q20 avg. 103 MBOED (78% oil) 260,000 net acres STACK /…
Eagle Ford Driving Capital Efficiency Improvement Resumed activity in 3Q20 with no loss in efficiency Production Volumes and Wells to Sales 2Q20 production averaged 108 net MBOED 120 50 with 20 gross operated wells to sales in…
Bakken Delivering Execution Excellence Record low cash costs during 2Q20 Production Volumes and Wells to Sales 2Q20 production averaged 103 net MBOED 120 35 with 8 gross operated wells to sales; majority Operated Wells to Sales…
Capital Allocation Optionality in Oklahoma and N. Delaware Assets focused on base performance and expense management Oklahoma Production Volumes and Wells to Sales Oklahoma 100 20 2Q20 production averaged 60 net MBOED Operated…
Encouraging Texas Delaware Oil Play Results 2020 Resource Play Exploration (REx) D&C activity completed Marathon Oil vs. Industry Productivity 4 Woodford wells and 2 Meramec wells 90-Day 180-Day successfully brought online since play…
International E&P: Equatorial Guinea Alen backfill gas project progressing on schedule 2Q20 production of 83 net MBOED with unit production costs of 1.88 per BOE Expecting sequentially lower 3Q20 production due to impact of higher…
Committed to Sustainability The foundation for long-term financial outperformance Environmental & Safety1 Social Governance Year-to-date safety performance is Leveraging the Bioko Island 7 of 8 directors are independent best in…
Prioritizing Financial Strength and Flexibility FCF breakeven in low 30/bbl range for 2H20 Reducing Capital Managing Cost Protecting Balance Sheet Expenditures Structure and Liquidity 2020 Capital Budget Record Low U.S. Significant…
Appendix
2020 Production Guidance Net Production Oil Production (MBOPD) Equivalent Production (MBOED) 2020 2Q20 1Q20 2019* 2020 2Q20 1Q20 2019* United States 173 179 182 207 191 295 305 307 340 323 International 13 15 15 14 15 75 79 83 82…
2020 Cost and Tax Rate Guidance Current 2020 Guidance United States Cost Data ( per BOE) Production Operating 4.25 5.25 DD&A 19.00 21.00 S&H and Other1 3.85 4.10 International Cost Data ( per BOE) Production Operating 2.15…
United States Crude Oil Derivatives As of August 5, 2020 3Q20 4Q20 FY 2021 NYMEX WTI Three-Way Collars Volume (Bbls/day) 80,000 80,000 - Ceiling 64.40 64.40 - Floor 55.00 55.00 - Sold put 48.00 48.00 - NYMEX WTI Two-Way…
United States Natural Gas/NGL Derivatives As of August 5, 2020 3Q20 4Q20 FY 2021 Natural Gas Two-Way Collars Volume (MMBtu/day) 66,304 150,000 112,329 Weighted Avg Price per MMBtu Ceiling 2.49 2.62 3.00 Floor 2.00 2.13 2.42 Basis…
Capital, Investment & Exploration Budget reconciliation (MM) 2020 1Q20 2Q20 Budget Actual Actual Cash additions to Property, Plant and Equipment 620 326 Working Capital associated with PPE (52) (187) Property, Plant and Equipment…
Loading...
