Operational Excellence & Capital Discipline advantaged assets & operations high-quality, long-life, diversified asset portfolio Multi-basin portfolio provides commodity diversification and capital allocation optionality Marcellus…
Executing on our Strategy Operational excellence and capital discipline 2022: Delivered on Capital Discipline While 2023 Outlook: Investing Through Price Cycles to Commodity Prices Provided Outsized Returns Sustain Zero-to-Modest…
2023 Program: Increased Budget Driven by Inflation and Incremental Activity Supporting 3-Yr Outlook 2023e midpoint capex of 2.1 billion +20% YoY, increased activity driving multi-year production outlook driven by both inflation & activity…
3-Year Snapshot: Committed to Capital Discipline 2023e-2025e sum of expected uses of CFFO, in billions 14 significant FCF at strip maintain consistent operational activity 12 across basins & across various price scenarios provides…
Long Runway of High-Quality Inventory net economic locations at 75/bbl & 3.50/mcf implied inventory duration1 net locations avg lateral length ranges can fluctuate based on assumptions around well spacing, cost levels, commodity…
Committed to Returning Value billions percentages shown are shareholder returns as percentage of FCF 2022 FCF 3.9bn 2023e FCF 1.9bn at recent strip prices targeted 50%+ cash cash - 0.2 return of FCF1, through dividends continue to…
Prioritizing Financial Flexibility history of conservative Net Leverage liquidity & debt maturity profile mm and weighted average rates Cimarex Cabot Coterra WTI HH .0x 2,500 2,173 4.4% 0.0 2,000 0.0 0 80 8.00 0.0 75 1,500 3.9% 0…
High-Yielding Investment Opportunity with Advantaged Capital Structure dividend yield last quarter annualized1 market-leading Net Leverage position2 base variable CTRA 3.3% 6.1% Coterras 0.2x Net Leverage is 400 lower than 82% of the…
Diversified Marketing Portfolio 2023 estimated natural gas sales markets 2023 estimated oil sales markets NYMEX Houston ship channel premium (Zone 6 Non New York & Power) in-basin Marcellus 36% 26% 24% Permian 4% 6% 10% 90%…
Permian Asset Overview targeting prolific Wolfcamp & Bone Spring notable Permian projects 2023 operational outlook Larger-scale projects are driving capital efficiency by - Focusing on concentrated areas & reducing 880mm - 970mm D&C…
CTRA Long-lateral Wolfcamp Wells are Outperforming Wolfcamp, 8,500 lateral, 2016+ 24-month cumulative production per foot, boe +23% +10% +27% +34% boe 80 boe 70 boe boe gas 63 63 51 boe gas boe boe 59 57 57 19 gas boe gas…
Promising New Development: Harkey Shale Harkey & Upper Wolfcamp development of a full-section in Culberson County productivity cumulative boe per lateral foot economics Harkey Wolfcamp Wolfcamp Harkey 30 1 section Well count 8 wells 4…
Marcellus Asset Overview Susquehanna County acreage significant Upper Marcellus leverages highly productive formation delineation in 2023 2023 operational outlook Positive 2022 results (14 wells) expected to continue in 2023,…
New Upper Marcellus Development Performing Favorably Alongside Premier Lower Marcellus productivity cumulative mcf per lateral foot economics Lower Marcellus Upper Marcellus Dobrosielski Lower Upper Marcellus Marcellus Dobrosielski…
Anadarko Asset Overview increasingly important basin located near industrial & LNG export demand, strong returns expected expected to dominate natural gas demand growth across recent projects 2023 operational outlook Carel Elder Project…
Recent Anadarko Projects Outperforming Legacy Offsets, Driving Capital Efficiency & Higher Returns days online vs cumulative boe per lateral foot lonerock (mixed gas & oil) downdip (gas & NGL weighted) updip (oil weighted) Carel/Elder…
Managing Emissions Executive compensation tied to emissions reduction metrics 15% of total short-term incentive potential methane emissions intensity greenhouse gas emissions intensity flare intensity methane emissions (MT CH4) / gross…
appendix 20
Results & Guidance Quarterly Key Results & Guidance Full-Year 2023e Expense & Capex & Gas mm, unless noted 4Q22 Guidance 4Q22 vs. midpoint 1Q23e Price Detail per boe, unless noted Total Production (mboed) 615 - 635 632 1% 610 - 625…
2022 Key Results & 2023 Guidance Feb 2022 2022 v. mid-2023e bn, unless noted Guidance 2022 midpoint 2023e v. 2022 Total Production (mboed) 600 - 635 634 3% 610 - 650 -1% Operations Gas (mmcfd) 2,680 - 2,850 2,806 1% 2,700 -…
Non-GAAP Reconciliations & Definitions Supplemental Non-GAAP Financial Measures (Unaudited): We report our financial results in accordance with accounting principles generally accepted in the United States (GAAP). However, we believe…
Non-GAAP Reconciliations & Definitions Twelve Months Ended: Sept 30 June 30 March 31 December 31 ( in millions) 2022 2022 2022 2022 2021 2020 2019 2018 2017 EBITDAX Net income 3,972 2,839 1,640 4,065 1,158 201 681 557 100 EBITDAX is…
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