Returned 82% of Adjusted CFO to Shareholders in Third Quarter Committed to our Framework & Delivering Compelling Results Third quarter results are once again highlighted by strong operations and compelling financial delivery that…
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 3Q22 Earnings Release Market-leading return of capital delivery while enhancing financial performance and sustainability Market-Leading Return Solid 3Q22 Financial & Operational Results Compelling Outlook of Capital…
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 61% of adjusted…
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 60/bbl WTI Reduce gross debt and maintain…
Significant Return of Capital, Peer-Leading Per Share Growth 20% reduction to outstanding share count since October 21 Market-leading Return of Capital Track Record Peer-Leading Shareholder Distribution Track Record Returned 3.6B 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 Capitalization6 Unique percentage…
2022 Program Delivering Outstanding Financial Outcomes Achieving all financial and operational objectives Continuing to Prioritize Capital Discipline and FCF Significant Free Cash Flow Generation Compelling 2022E financial delivery,…
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% 25% 50% 20%…
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% Top Tier FCF Yield in S&P 500 FCF Yield 20% 20% Leading…
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 290k net…
3Q22 Cash Flow Waterfall Returned a quarterly record 1.2B to shareholders 3Q22 Cash Flow Waterfall (MM) 3,000 2,500 413 99 4 54 2,000 1,440 1,122 1,500 2,193 7 1,000 500 1,162 1,109 0 6/30/22 Operating Capital…
3Q22 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 60 160 50 Operated Wells to Sales Operated Wells to Sales 50 40 90 120…
3Q22 U.S. Resource Play Update Eagle Ford Bakken 3Q22 production 90 net MBOED; 48 gross operated wells to sales 3Q22 production 118 net MBOED; 9 gross operated wells to sales 11 Atascosa extended laterals (11k ft) averaged 2,350 BOED…
Raising Annual Equatorial Guinea Equity Income Guidance World class integrated gas business with unique exposure to global LNG market 3Q22 production of 57 net MBOED with production costs of 3.55 per BOE 3Q22 EBITDAX of 263MM and YTD…
Competitively Advantaged E.G. Integrated Gas Business E.G. Process Flow Overview Differentiated Global LNG Equity Volumes(a) Third Party Volumes(b) Exposure Upstream Primary Condensate Global LNG price exposure to further…
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 TRIR5 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 Intensity8 Methane Emissions Intensity10 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 2021 Corporate Sustainability Report (CSR) published 3Q22 Long-term Track Record of Comprehensive Reporting: Corporate Sustainability Report remains one-stop-shop for all non- financial disclosure 16…
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 3Q22 2Q22 1Q22 2022 3Q22 2Q22 1Q22…
2022 Cost, Tax Rate, and Equity Method Guidance 2022 Guidance United States Cost Data ( per BOE) Production Operating 5.90 6.10 DD&A 15.75 16.75 S&H and Other13 5.00 6.00 International Cost Data ( per BOE) Production Operating…
U.S. Commodity Derivative Contracts as of November 1, 2022 Crude Oil 4Q22 1Q23 NYMEX WTI Three-Way Collars Volume (Bbls/day) 30,000 - Ceiling 97.52 - Floor 56.67 - Sold put 46.67 - NYMEX Roll Basis Swaps Volume (Bbls/day) 60,000…
Definitions and Footnotes 1) Annualized 3Q22 shareholder distributions, divided scope 1 and 2 metric tonnes carbon dioxide term objectives (APA, CLR). CLR, EOG disclosures by 10/27/2022 MRO equity value of 30.52/sh. and equivalent…
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