Committed to our Framework & Delivering Compelling Results Over 2B of adjusted FCF and over 1.7B of shareholder returns YTD Second quarter represents another quarter of comprehensive delivery on our Framework for Success, including…
Framework for Success Committed to delivering financial and ESG excellence Corporate Returns Disciplined reinvestment in strongest rate-of-return opportunities Committed Free Cash Flow Sustainable free cash flow across wide range…
Key Takeaways from 2Q22 Earnings Release Record financial performance, market-leading return of capital profile, outlook unchanged Record 2Q22 Financial Market-Leading Return Compelling Outlook Results of Capital Track Record Record…
Comprehensive Delivery Against Our Framework Compelling return of capital, sustainable free cash flow, ESG excellence Percentage of CFO framework provides shareholders first call on cash flow Return of Capital Returned 2.5B to…
Clear Priorities for Capital Allocation Percentage of CFO framework provides shareholders first call on cash flow Significant Price Support Return at least 40% of CFO to equity investors; 1B of capital return annually 60/bbl WTI…
Return of Capital Track Record: Driving Significant Per Share Growth 15% reduction to outstanding share count in 10 months Market-leading Return of Capital Track Record Among Strongest Distribution Yields in S&P 500 Returned 2.5B of…
2022 Return of Capital Outlook: Expect to Lead Peer Group Annualized distribution yield leads E&P peers Expect to Lead Peer Group in Shareholder Distributions 2022e Shareholder Distributions vs. Market Capitalization7 Unique % of CFO…
2022 Program Delivering Outstanding Financial Outcomes Expect 4.5B of FCF (25% Yield) Continuing to Prioritize Capital Discipline and FCF Significant Leverage to Stronger Commodity Prices Staying disciplined and prioritizing FCF in…
Delivering Top Tier Performance in 2022 vs. E&P Peers Powerful combination of capital efficiency, free cash flow generation, and balance sheet strength 2022e Reinvestment Rate 2022e FCF Yield (Adjusted FCF / Mkt Cap) 60% 30% 50% 25%…
Outperforming the S&P 500 Market leading FCF yield and return of capital at attractive valuation in S&P 500 Competing with the Best in the S&P 2022e FCF Yield vs. S&P 500 40% 2 in S&P 500 at 25% 2 FCF Yield in S&P 500 20% 25% FCF…
Key Takeaways from 2Q22 Earnings Release Record financial performance, market-leading return of capital profile, outlook unchanged Record 2Q22 Financial Market-Leading Return Compelling Outlook Results of Capital Track Record Record…
APPENDIX
Competitively Advantaged Multi-Basin Portfolio High quality U.S. assets complemented by world-class integrated gas business with global LNG exposure Bakken Oklahoma 255k net acres 250k net acres Eagle Ford Permian 160k net…
Peer-leading Financial and Operational Outcomes are Sustainable 5 Year Benchmark Maintenance Scenario (2022 to 2026) 5 Year Benchmark Maintenance Scenario Overview 5 Year Maintenance Scenario FCF and Reinvestment Rate Multi-year track…
Multi-Year Track Record of Peer Leading Capital Efficiency History of delivering more barrels with less capital, per third party data 12 Month Capital Efficiency by Year Sector Leader in Capital Discipline 12mo cum mboe / TWC (20:1…
2Q22 Cash Flow Waterfall Returned 820MM to shareholders and built cash by 500MM 2Q22 Cash Flow Waterfall (MM) 2,500 375 2,000 2 112 56 1,500 760 1,586 28 1,000 1,894 1,162 500 681 0 3/31/22 Operating Capital EG…
2Q22 U.S. Resource Play Production and Wells to Sales Eagle Ford Production Volumes and Wells to Sales Bakken Production Volumes and Wells to Sales 120 50 160 50 Operated Wells to Sales Operated Wells to Sales 90 40 120 40…
2Q22 U.S. Resource Play Update 2022 wells to sales guidance remains unchanged Eagle Ford Bakken 2Q22 production 84 net MBOED; 19 gross operated wells to sales 2Q22 production 114 net MBOED; 20 gross operated wells to sales Expect 100…
Raising Annual Equatorial Guinea Equity Income Guidance World class integrated gas business with unique exposure to global LNG market 2Q22 production of 60 net MBOED with production costs of Alba Platform 2.83 per BOE 2Q22 equity…
Marathon Oil ESG Progress Report Recap of highlights and forward objectives Meeting the worlds energy needs while prioritizing all elements of ESG performance 0.29 TRIR6 in 2021, second strongest safety performance since becoming…
Environmental Objectives Significantly Enhanced Includes GHG and methane intensity, gas capture, and 2030 longer-term goals Goals promote transparency and accountability while enhancing alignment and innovation Emissions intensity…
Emissions Objectives Aligned with Paris Climate Agreement Trajectory Reducing GHG emissions intensity by 70% and methane intensity by 80% by 2030 GHG Emissions Intensity9 Methane Emissions Intensity15 35 2.5 30 2.0 25 40%…
Meeting Global Energy Demand with Top Decile GHG Intensity Driving significant improvement and delivering strong absolute and relative performance 2030 Implied GHG Emissions Intensity Reduction Goals* 2030 Implied GHG Emissions Intensity…
Corporate Sustainability Report Producing the energy the world needs Long-term Track Record of Comprehensive Reporting: Corporate Sustainability Report remains one-stop-shop for all non-financial disclosure 15 consecutive years of…
2022 Production and Capital Budget Guidance 2022 oil and oil-equivalent volumes consistent with 2021 annual averages Oil Production Oil Equivalent Production Net Production (MBOPD) (MBOED) 2022 2Q22 1Q22 2022 2Q22 1Q22 United…
2022 Cost, Tax Rate, and Equity Method Guidance 2022 Guidance United States Cost Data ( per BOE) Production Operating 5.25 5.75 DD&A 15.75 16.75 S&H and Other18 5.00 6.00 International Cost Data ( per BOE) Production Operating…
U.S. Commodity Derivative Contracts as of August 2, 2022 Crude Oil 3Q22 4Q22 1Q23 NYMEX WTI Three-Way Collars Volume (Bbls/day) 30,000 30,000 - Ceiling 97.52 97.52 - Floor 56.67 56.67 - Sold put 46.67 46.67 - NYMEX Roll Basis…
Definitions and Footnotes 1) Annualized trailing 3 quarters shareholder distributions, divided by e. OVV: 25% of post base dividend FCF to shareholders; increases to 13) Includes 92MM of changes in operating working capital and 20MM of…
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