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 Investment Driving 3-Yr Outlook 2023e midpoint capex of 2.1 billion +20% YoY, increased activity in 2023 driving multi-year production outlook driven by both inflation & activity oil mbod natural gas bcfd 5% CAGR 0-5% YoY…
3-Year Snapshot: Committed to Capital Discipline 2023e-2025e sum of expected uses of CFFO, in billions significant 14 FCF at strip maintain consistent operational activity 12 across basins & across various price scenarios provides…
Constructive on Long-Term Natural Gas Fundamentals production in bcfd & prices in per mmbtu exports & industrial demand expected to drive requiring supply growth from major U.S. gas basins U.S. natural gas demand growth 45 NYMEX as of…
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 1.6bn at recent strip prices, see appendix for commodity price assumptions targeted 50%+ cash cash return…
Prioritizing Financial Flexibility history of conservative Net Leverage liquidity & debt maturity profile mm and weighted average rates Cimarex Cabot Coterra WTI HH 3,000 0.0 6.0x 2,500 0.0 2,000 2,473 4.4% 8.00 1,500 0.0 5.0x…
Diversified Marketing Portfolio 2023 estimated natural gas sales markets 2023 estimated oil sales markets NYMEX premium (Zone 6 Non New York & Power) in-basin Houston ship channel Marcellus 33% 23% 23% Permian 10% 5% 10% 90% Anadarko…
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 - 980mm D&C…
CTRA Long-lateral Wolfcamp Wells are Outperforming Wolfcamp, 8,500 lateral, 2016+ 24-month cumulative production per foot, boe +25% +6% +28% +37% boe 80 boe 70 boe boe gas 61 64 boe 52 boe boe gas 58 59 56 19 gas boe gas gas…
Marcellus Asset Overview Susquehanna County acreage significant Upper Marcellus leverages highly productive formation delineation in 2023 2023 operational outlook Positive 2022 results expected to continue in 2023, complementing…
New Upper Marcellus Development Performing Favorably Alongside Premier Lower Marcellus productivity cumulative mcf per lateral foot economics Lower Upper 700 Marcellus Marcellus Lower Marcellus Dobrosielski 600 Well count 178 wells…
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 greenhouse gas emissions intensity upstream segment greenhouse gas emissions GHG emissions (MT CO2e) / gross…
Managing Emissions Executive compensation tied to emissions reduction metrics; 15% of total short-term incentive potential methane emissions intensity flare intensity methane emissions (MT CH4) / gross methane produced (MT CH4) flared…
appendix 20
Annual Guidance 2023e guidance 2023e expense guidance prior 2023e guid. 2023e change per boe, unless noted Operations Total Production (mboed) 610 - 650 610 - 650 - Gas (mmcfd) 2,700 - 2,850 2,700 - 2,850 - prior 2023e 2023e…
Quarterly Key Results & Guidance mm, unless noted 4Q22 1Q23 1Q23 Guidance 1Q23 vs. mid 2Q23e Operations Total Production (mboed) 632 635 610 - 625 3% 620 - 650 Gas (mmcfd) 2,780 2,757 2,650 - 2,750 2% 2,750 - 2,850 Oil (mbod)…
Non-GAAP Reconciliations & Definitions Twelve Months Ended: December 31 ( in millions) 2022 2021 2020 2019 2018 2017 EBITDAX Net income 4,065 1,158 201 681 557 100 Plus (less): EBITDAX is defined as net income plus interest expense,…
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