1Q21 Highlights Strong Earnings Generation Proven FCF Generation 309 Net Earnings ( MM) 540 Free Cash Flow ( MM) 1.16 earnings per diluted share 2021 to be fourth consecutive year of free cash flow generation Includes 156 MM cash…
Firing on All Cylinders Strong Start to 2021 Driving Results 1.1B Beat original 1B asset sales target , one year ahead of schedule Duvernay sale closed April 28, Eagle Ford close estimated before end of 2Q21 Asset sales above…
Substantial 1Q21 Debt Reduction Debt Reduction 50 / 2.75 ( MM) YE21 debt drops to 4.7B at 60/bbl WTI oil for remainder of year 7,366 40% 6,885 Debt Reduction 2Q20 1H22 Exceeded divestiture target with 1.1B in asset sales…
Innovation Delivering Results Beating cost inflation Inflationary Costs Offsetting Innovation Reaffirming 1.5B FY21 capex guidance OCTG Steel Simulfrac Diesel Local wet sand YTD21 well costs below or in-line with FY21 guide Faster…
Drilling with Momentum into 2021 Permian +25% Avg Lat. Length (ft) Days to Drill 10,900 OVV record lateral length: 16,000 10,300 11 11 10 9,000 6.9 day spud-to-rig release pacesetter Permian Drilling Efficiencies 78 wells /…
In-Field Wet Sand Supply Chain Ramps Up New Howard County Sand Mine Well cost savings Savings 100k/well; Sand cost of 1.6 cents/lb Reduced inflation exposure 65% of Permian program Optimized logistics Reduces truck mileage…
Technology Innovation Drives Efficiencies Data analytics and machine learning Proprietary drilling app drives multi- Cloud-based automated chemical enhance supply chain process basin collaboration and idea transfer pump rate…
We are the New E&P We have a history of leading the industry towards the era of the New E&P Focus on execution efficiency, disciplined capital allocation, and generating free cash flow Doug Suttles, October 2017 Key Ingredients Track…
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Appendix
Track Record of Environmental Leadership Industry leading reporting and performance Proven Track Record 16 7th Alignment to Task Force on Climate-related Financial Disclosure (TCFD) Utilizing Sustainability Accounting Standards Board…
Cost Savings Momentum Continues Declining Legacy Costs boost cash flows Legacy Cost Profile Accelerates Debt Reduction No execution risk, only subject to time Declining Legacy Costs ( MM) Panuke decommissioning, T&P & Opex Panuke Lease…
Financial & Operational Detail Total Costs (/BOE) Sensitivities (2Q21 4Q21) rounded Hedged rounded F/X +0.05 12.25 12.50 Oil: +5 75 MM Cash Flow (35) MM Gas: +0.25 75 MM Total Costs 0.40 / BOE Original Guide PMOT Sensitivity 50…
Updated FY21 Production Guidance 2021 Production Guidance Details Previous FY21 FY21 Impact of Texas & Oklahoma winter Guide Excl. FY21 Asset Guide Post storms limited to 1Q only Asset Sales Sale Impact 2 Asset Sales Crude &…
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