Consistently Executing on our Framework For Success Returned 400MM to Shareholders and Completed Ensign Integration First quarter adds to our track record of strong execution against our well-established Framework for Success We built…
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 1Q23 Earnings Release Solid 1Q23 delivery, compelling 2023 business plan, continued portfolio momentum Strong 1Q23 Results, 2023 Business Plan Leads Driving Continuous Consistent with Guidance Improvement Across E&P…
Comprehensive Delivery Against Our Framework Market-leading return of capital and FCF, sustainable financials and operations, ESG excellence Return of Capital Framework provides shareholders first call on cash flow and protects investors…
2022 E&P Sector Leadership on Metrics that Matter Most Well-established track record of top tier shareholder distributions, FCF generation, and capital efficiency 2022 Shareholder Distributions (% Adjusted CFO) 2022 FCF Yield (Adjusted…
2023 Return of Capital Leadership, Based on Peer Benchmarking Visibility to compelling return of capital profile across wide range of commodity prices Market-Leading Return of Capital Track Record 2023 Shareholder Returns at (minimum)…
2023 FCF Generation and Capital Efficiency Leadership Strong combination of FCF yield, FCF efficiency, Reinvestment Rate, and Capex per BOE 2023e FCF Yield (Adjusted FCF / Mkt Cap) 2023e FCF per BOE of Production 25 20% 20 15% 15…
2023 & 2024 Free Cash Flow Breakeven Leadership Low FCF breakeven is critical to business model resilience through commodity price cycle FCF Breakeven (2023 and 2024) 100 MRO has lowest 2023 & 2024 FCF breakeven on pre-and…
2023 Production Per-Share Growth Leadership On track to realize 40% growth in production per-share since 2021 Production per Share Growth (2022 to 2023) 40% Expect 30% production per-share growth from 2022 to Oil 2023, due to Ensign…
Ensign Integration Completed Ahead of Schedule with Strong Early Results Top decile oil productivity from 1Q23 pads Ensign Acquisition Update 600 high-return locations (15-year Gonzales Ensign integration completed ahead of schedule…
Permian Program Outperforming Since 2022 Return to Activity 2022+ extended laterals exceeding top quartile Delaware Basin oil productivity 2022+ Extended Laterals Delivering Strong Oil Productivity 300 23 Northern Delaware wells to…
E.G. Integrated Gas Business Expected to Provide Material 2024 Uplift World-class operation provides differentiated and increasing exposure to global LNG market 2023 Overview Total E.G. EBITDAX (Consolidated & Equity Affiliate) 1Q23…
Progressing Next Phases of E.G. Regional Gas Mega Hub Leveraging world-class infrastructure to enhance longer-term FCF capacity Maximizing Value of World-Class Gas Assets Alba Oil (producing) MRO 64% WI Gas/Cond (producing) Heads of…
Well Positioned to Outperform the S&P 500 Again in 2023 Market leading FCF yield and return of capital at attractive valuation Competing with the Best in the S&P 2023e FCF Yield vs. S&P 500 40% MRO Top Tier FCF Yield in S&P 500 20%…
APPENDIX 17
Competitively Advantaged Multi-Basin Portfolio High quality U.S. assets complemented by world-class integrated gas business with global LNG exposure Bakken Oklahoma 240k net acres 260k net acres Eagle Ford Permian 290k net…
2023 Capital Program Delivers Robust FCF and Return of Capital Prioritizing free cash flow generation, return of capital to shareholders, and execution excellence 2023 Capital Program Overview Expecting Top Tier FCF Yield in 2023 1.9B…
2023 Capital Program Details Disciplined, high confidence program to deliver strong financial and operational outcomes U.S. Resource Plays International 3 rig program, 70 to 80 wells to sales (WTS) Bakken Activity focused in…
Track Record of E&P-Leading Capital Efficiency History of delivering more barrels with less capital, per third party data E&P Sector Leading Capital Efficiency (6-month cumulative production / total well cost) 25 20 6-mon cum mboe…
1Q23 U.S. Resource Play Production and Wells to Sales Eagle Ford Bakken 150 50 150 50 Operated Wells to Sales Operated Wells to Sales 120 40 120 40 MBOED MBOED 90 30 90 30 60 20 60 20 30 10 30 10 0 0 0 0 1Q22 2Q22…
1Q23 U.S. Resource Play Update Eagle Ford Bakken 1Q23 production of 144 MBOED (75 MBOPD) on 36* gross operated 1Q23 production of 95 MBOED (63 MBOPD) on 17* gross operated wells to sales (WTS) WTS Expect 45* WTS during 2Q23 Expect…
Unique Integrated Gas Position with Increasing LNG Exposure 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…
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…
1Q23 Cash Flow Waterfall Returned 400MM to shareholders and retired 70MM in debt 1Q23 Cash Flow Waterfall (MM) 1,400 1,200 1,000 601 800 942 600 32 63 8 400 334 643 10 200 70 334 178 0 12/31/22 Operating Capital…
Marathon Oil 2022 ESG Report Card Another year of comprehensive ESG delivery Meeting the worlds energy needs while prioritizing all elements of ESG performance Achieved 0.30 TRIR1 in 2022 for employees and contractors Safety Safety…
Delivering Comprehensive ESG Excellence Prioritizing every element of the E, S, and G Rystad Energy 2022 ESG Scorecard 300 ESG Ranking Methodology - Key Metrics Environmental: Spills, GHG intensity, Targets, Water Management,…
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…
2023 Production and Capital Budget Guidance Double-digit production growth due to Ensign acquisition Oil Production Equivalent Production Net Production (MBOPD) (MBOED) 2023 1Q23 4Q22 2023 1Q23 4Q22 United States 177 185 176 156 340…
2023 Cost, Tax Rate, and Equity Method Guidance U.S. unit cash costs expected to decline 10% from 2022 2023 Guidance United States Cost Data ( per BOE) Production Operating 5.00 6.00 DD&A 15.50 16.50 S&H and Other10 4.50 5.50…
U.S. Commodity Derivative Contracts as of May 1, 2023 Crude Oil 2Q23 3Q23 4Q23 NYMEX WTI Three-Way Collars Volume (Bbls/day) 10,000 10,000 10,000 Weighted average price per Bbl: Ceiling 97.59 97.59 97.59 Floor 60.00 60.00 60.00…
Loading...
