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Q1 2022 Earnings Presentation – Chesapeake Energy Corp

Chesapeake Energy Corp · May 4, 2022 · 16 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. Q1 2022 Earnings Presentation – Chesapeake Energy Corp – slide 1
    Answering the Call for Affordable, Reliable, Lower Carbon Energy 1Q 2022 EARNINGS / MAY 4, 2022
  2. Q1 2022 Earnings Presentation – Chesapeake Energy Corp – slide 2
    1Q22 Highlights Adjusted free cash flow(1) Adjusted EBITDAX(1) 532mm 913mm FY22E projection raised to 2.6B 2.8B FY22E projection raised to 4.6B 4.8B Dividend payable 22E total dividend yield(2) Net debt-to-EBITDAX ratio(1) 2.34…
  3. Q1 2022 Earnings Presentation – Chesapeake Energy Corp – slide 3
    Best-in-Class Dividend Program Share and warrant repurchase program commences, leading to double-digit cash returns (1) 2.34 per share payable in June 2022 2022E TOTAL DIVIDEND YIELD 14% (2) 0.50 base dividend 1.84 variable…
  4. Q1 2022 Earnings Presentation – Chesapeake Energy Corp – slide 4
    2022 Projected Plan 22E Activity 1Q22 Actual and 2022E Projected Results 1Q22 2Q22E FY22E Oil Production (mbo/d) 60 48 50 51 56 Marcellus Gas Production (bcf/d) 3.2 3.7 3.8 3.6 3.7 650,000 net acres 50% WI, 40% NRI Total…
  5. Q1 2022 Earnings Presentation – Chesapeake Energy Corp – slide 5
    Marcellus: Premium Scale, Leading Returns 0 3 6 12 Asset overview 1Q22 2Q22E FY22E Miles Net Production (bcf/d) 1.45 1.85 1.95 1.9 2.0 Wells Drilled 14 24 28 80 95 Wells TILd 17 24 28 80 95 Average LL (feet) 11,000 PDP Decline (5…
  6. Q1 2022 Earnings Presentation – Chesapeake Energy Corp – slide 6
    Haynesville: Profitable Growth, Advantaged Markets Asset overview 1Q22 2Q22E FY22E Net Production (bcf/d) 1.63 1.65 1.75 1.6 1.7 Wells Drilled 12 15 20 60 75 Wells TILd 20 15 20 60 75 Average LL (feet) 9,000 PDP Decline (5 year) 30%…
  7. Q1 2022 Earnings Presentation – Chesapeake Energy Corp – slide 7
    Eagle Ford: Superior Margins, Sustainable Free Cash Flow Asset overview 1Q22 2Q22E FY22E Net Production (mboe/d) 90 85 95 90 100 Wells Drilled 10 30 35 45 65 Wells TILd 0 10 15 45 65 Average LL (feet) 10,500 PDP Decline (5 year) 15%…
  8. Q1 2022 Earnings Presentation – Chesapeake Energy Corp – slide 8
    Reducing Direct GHG and Methane Emissions CHK GHG Emissions Intensity CHK Methane Intensity (metric tons CO2e/gross mboe produced) (volume methane emissions/volume gross natural gas produced) 2025 OGCI methane 9.1 0.19% intensity goal…
  9. Q1 2022 Earnings Presentation – Chesapeake Energy Corp – slide 9
    Leading RSG Supplier to LNG Export Markets 2.5 bcf/d gross marketed 1.95 bcf/d net production Supplying RSG to the Gulf Coast and LNG export markets Actively engaged in several discussions regarding participating in LNG export…
  10. Q1 2022 Earnings Presentation – Chesapeake Energy Corp – slide 10
    Appendix H A Y N E S V I L L E E A G L E F O R D M A R C E L L U S
  11. Q1 2022 Earnings Presentation – Chesapeake Energy Corp – slide 11
    Hedging Program Reduces Risk, Protects Returns Since 2/21/2022, CHK has hedged: 81 bcf of 2023 gas at 3.48 7.29/mcf DOWNSIDE PROTECTION LEVELS RMDR 2022(1) 2023 1.1 mmbbl of 2023 oil at 79.83 94.07/bbl Gas, /mcf 2.90 3.40 2.96…
  12. Q1 2022 Earnings Presentation – Chesapeake Energy Corp – slide 12
    Hedged Basis Protection As of 4/29/2022 15% of Marcellus and 32% of Haynesville basis hedged for the remainder of 2022 Since 2/21/2022, CHK has added basis protection for: 113.3 bcf of 2Q22 4Q22 gas at an average differential to…
  13. Q1 2022 Earnings Presentation – Chesapeake Energy Corp – slide 13
    Pro Forma Maturity Profile PF net debt-to-2022E EBITDAX ratio(1) 0.6x Preserving balance sheet strength 1,250 6.5%(3) 1,450 4.5% 5.5% RBL Capacity 500(1) 4.5% 500 Pro Forma 221(2) 2022 2023 2024 2025 2026 2027 2028…
  14. Q1 2022 Earnings Presentation – Chesapeake Energy Corp – slide 14
    Managements Outlook as of May 4, 2022 2022 Projections Production: Oil mbo per day 51 56 NGL mbbls per day 15 18 Natural gas mmcf per day 3,600 3,680 Total daily rate mboe per day 670 690 Estimated basis to NYMEX prices, based on…
  15. Q1 2022 Earnings Presentation – Chesapeake Energy Corp – slide 15
    Reconciliation of Net Income (Loss) to Adjusted EBITDAX (unaudited) Non-GAAP Successor Predecessor Combined Period from Period from Three Months Three Months February 10, 2021 January 1, 2021 Ended Ended through through March…
  16. Q1 2022 Earnings Presentation – Chesapeake Energy Corp – slide 16
    Reconciliations of Adjusted Free Cash Flow and Net Debt ADJUSTED FREE CASH FLOW Non-GAAP Successor Predecessor Combined Period from Period from Three Months Three Months February 10, January 1, Ended Ended 2021 through 2021…

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