Premium Rock, Returns, Runway 3Q 2022 EARNINGS / NOVEMBER 1, 2022
Premium Rock, Returns, Runway STRATEGIC PILLARS Superior Capital Returns Most efficient operator, returning more cash to shareholders than any other gas peer in the U.S. Deep, Attractive Inventory 15 years of inventory…
3Q 2022 Highlights 1.9B Dividend payable 2/3rds of outstanding warrants eliminated 3.16 55% returned to equity holders YTD of 3Q FCF 400mm per share on 12/1/2022 Reduced short interest by(1) 55% of additional share…
Leading Our Peers: Better Rock, Better Returns, Better Runway Depth of Inventory Marcellus and Haynesville Enverus Gross Locations (1) 7,394 CHK has the best 3,331 2,801 combination of scale 2,267 2,286 1,467 1,372 622 and…
Fulfilling Our Promise: Best-in-Class Shareholder Return Program 1 returns program of any gas peer returned 2022E Implied Capital Return Yields (1,2) 1.9B to equity holders YTD Largest commitment (50% post base dividend FCF + CHK…
Enhancing a Strategic Lever: Premier Balance Sheet Committed to maintaining strong balance 9/30/2022 Net Debt / 2023 Consensus EBITDAX (1) sheet, net debt-to-EBITDAX…
Strengthening Our Company Through Sustainability Hired companys first Chief Sustainability Officer 2,000 continuous methane monitoring devices operating today 18,000 pneumatic devices retrofitted Conducting aerial Gas Mapping LiDAR…
2022 Operating Plan 22E Activity 3Q22 Actual and 2022E Projected Results 3Q22 4Q22E FY22E Marcellus Gas Production (bcf/d) 3.7 3.6 3.8 3.6 3.7 Net Acres: 650,000 Historical CHK: 540,000 Oil Production (mbo/d) 50 50 54 51 56…
Marcellus: Premium Scale, Leading Returns 16 years of drilling assuming 5-rig pace (90 wells per year) Gross Inventory by Breakeven 2022E BU EBITDAX 3.45B 3.55B (1,2) 14 16 16 16 18 Years of inventory at current pace (3) Chief…
Marcellus: Premium Scale, Leading Returns Asset Overview 3Q22 4Q22E FY22E Marcellus Sales Points Net Production (bcf/d) 1.99 1.95 2.05 1.8 1.9 HISTORICAL DEDUCT CURRENT DEDUCT MARCELLUS TOTAL FROM NYMEX ()(1) FROM NYMEX ()(1)…
Haynesville: Profitable Growth, Advantaged Markets 17 years of drilling assuming 7-rig pace (75 wells per year) Gross Inventory by Breakeven 2022E BU EBITDAX 2.85B 2.95B (1,2) 11 14 15 17 20 Years of inventory at current pace (3)…
Haynesville: Profitable Growth, Advantaged Markets Asset Overview 3Q22 4Q22E FY22E Haynesville Sales Points Net Production (bcf/d) 1.61 1.52 1.62 1.6 1.7 HISTORICAL DEDUCT CURRENT DEDUCT HAYNESVILLE TOTAL Average Rigs 6 7 57 FROM NYMEX…
Haynesville Market Strategy: Be LNG Ready
Remaining Flexible with the U.S. Gas Growth Engine Longest-tenured and largest-basin operator Continued Cost Leadership Efficiency gains from decade plus improvements = lowest capital cost Louisiana operator Program to flex between 5…
Peer-Leading Capital Execution CHK Today Haynesville Well Costs Average /ft (1) Lowest capital cost execution in Louisiana 2,028 1,730 1,771 1,596 1,614 Decade+ of consistent improvements 1,425 1,432 translates to lower cost…
Our Path to Being LNG Ready Gathering and Treating Targeting 80% 90% secured long-term with near-term coverage at 100% Execution of firm gathering and flexible offloads de-risk growth deliverability without impeding activity…
Macro Gas Demand: LNG Tailwinds Persist Growth from core basins will be insufficient to U.S. LNG Capacity (bcf/d)(3) meet already under construction LNG volumes Online LNG Gas prices should align to the marginal cost Under…
Most Compelling Natural Gas Opportunity Superior Capital Returns Unwavering commitment to returning cash flow to shareholders Deep, Attractive Inventory Capital efficient assets that sustainably generate returns Premier…
Appendix
Non-GAAP Financial Measures This document includes non-GAAP financial measures. Such non-GAAP measures should not be considered as an alternative to, or more meaningful than, GAAP measures. The Companys management believes that these…
Glossary BE: Breakeven the minimum price at which GP&T: Gathering, Processing and Transport PDP: Proved Developed Producing Reserve cumulative cash flows are zero expense classification for a producing well BU: Business Unit IP30:…
Making Progress: 2022+ Haynesville Midstream Additions A Gathering 100 mmcf/d LA B Gathering 30 mmcf/d C C Gathering 200 mmcf/d A D Gathering 50 mmcf/d B E Gathering 120 mmcf/d M K F F Gathering 100 mmcf/d G Gathering 100…
Eagle Ford: Superior Margins, Sustainable Free Cash Flow 14 years of drilling using 2 3 rigs Brazos Valley South Texas 2022E BU EBITDAX 1.55B 1.66B (1,2) 0 10 20 40 Miles Emerging Austin Chalk potential, 10 wells in 2022…
Hedging Program Reduces Risk, Protects Returns As of 10/27/2022 Gas % Hedged 71% 57% Oil % Hedged DOWNSIDE PROTECTION LEVELS 4Q22(1) 2023 Gas, /mcf 2.86 3.19 Oil, /bbl 45.92 64.54 FY 2022 NATURAL GAS OIL SWAPS SWAPTIONS…
Hedged Financial Basis As of 10/27/2022 17% of Marcellus and 56% of Haynesville basis hedged for the remainder of 2022 Since 7/29/2022, CHK has added basis protection for: 17.1 bcf of 4Q22 gas at an average differential to NYMEX of…
Current Share Count (Values shown in millions) FDSO 150.8 149.9 146.6 145.5 Decrease in common from 4Q22 repurchase 12.7 Warrant 23.8 Dilution 28.6 (4.0) 23.9 Decrease in 11.6 shares common from repurchased 16.7 1Q22…
Managements Outlook as of November 1, 2022 2022 Projections Total production: Oil mbbls per day 51 56 NGL mbbls per day 15 18 Natural gas mmcf per day 3,600 3,680 Total daily rate mmcfe per day 4,020 4,140 Estimated basis to NYMEX…
Reconciliation of Net Income (Loss) to Adjusted EBITDAX (unaudited) Successor Three Months Ended Three Months Ended September 30, 2022 September 30, 2021 ( in millions) Net income (loss) (GAAP) 883 (345) Adjustments: Interest…
Reconciliations of Adjusted Free Cash Flow and Net Debt ADJUSTED FREE CASH FLOW Successor Three Months Three Months Ended Ended September 30, September 30, 2022 2021 ( in millions) Net cash provided by operating activities…
Loading...
