3 OUTLINE Differentiated Portfolio Second Quarter Highlights Value Creation Financials
DIFFERENTIATED PORTFOLIO 4 Oxys premier diversified assets and distinguished operational capabilities create a runway for sustainable shareholder value accretion OIL & GAS OXYCHEM Diversified portfolio with deep, improving inventory…
5 OUTLINE Differentiated Portfolio Second Quarter Highlights Value Creation Financials
HIGHLIGHTS 6 OIL & GAS UPDATE New Mexico seven-well Wolfcamp development (Top Spot) delivered an average 30-day IP of 4,600 boed per well TX Delaware three-well Wolfcamp development (Chicane) delivered an average 30-day IP of…
7 OUTLINE Differentiated Portfolio Second Quarter Highlights Value Creation Financials
TOP-TIER WELL PERFORMANCE DELAWARE CONTINUES TO IMPROVE 8 BASIN WELL 450 PRODUCTIVITY 400 Superior-quality 350 inventory combined with subsurface expertise Cumulative Mboe 300 drives continuous improvement and value 250 200 1…
WELL DESIGN DRIVING MAJOR DJ BASIN WELL PRODUCTIVITY GAINS 9 PRODUCTIVITY 200 180 2023 Wedge Wells Data-driven well design Achieved new 30-day operated IP record on Gaddis 36-4HZ and operational expertise 160 1,900 bod / 2,800 boed…
TECHNICAL AND OPERATIONAL EXCELLENCE 10 CREATING VALUE THROUGH OPERATING INGENUITY WORLD-CLASS RESERVOIR INNOVATIVE WELL DESIGNS AND CHARACTERIZATION AND DATA APPLICATION TECHNOLOGY-DRIVEN EXECUTION Oxy-developed proprietary workflows…
11 OUTLINE Differentiated Portfolio Second Quarter Highlights Value Creation Financials
FINANCIALS 12 SECOND QUARTER 2023 PERFORMANCE 1.0 B OIL & GAS OXYCHEM Free Cash Flow 1,218 Mboed; Pre-Tax Income Generation Full Year Guidance of 436 MM Increased 15 Mboed 425 MM 522 MM INVESTMENT Shares Preferred Equity…
FINANCIALS 13 SECOND QUARTER 2023 RESULTS Reported Production versus Mboed Reported Guidance Midpoint Reconciliation ROCKIES Adjusted diluted EPS1 0.68 Strong base and new well performance, +28 higher OBO volumes, nonrecurring…
FINANCIALS 14 THIRD QUARTER AND FULL-YEAR 2023 GUIDANCE OIL & GAS 3Q23 FY 2023 MIDSTREAM2 3Q23 FY 2023 Total Company Production (Mboed) 1,166 - 1,206 1,185 - 1,235 Pre-tax Income (170) - (70) MM (325) - (175) MM Permian Production…
FINANCIALS 15 PREFERRED EQUITY REDEMPTION 1Q23 0.95 Year-To-Date 4/Share Shareholder Distributions 2Q23 4Q22 and Preferred Equity Redemption1 0.68 0.81 4.081 3Q22 1,286 MM excess distributions to common shareholders2…
16 Appendix
17 APPENDIX Financial Information Oil & Gas Update Asset Overview LCV Overview
SHAREHOLDER RETURN FRAMEWORK 18 Sustainable & Increased quarterly dividend to 0.18 per share in 2023 Growing Dividend Dividend sustainable at 40 WTI 3 B of share repurchases completed in 2022 Share v Refreshed 3 B share…
FINANCIAL INFORMATION 19 CASH FLOW SENSITIVITIES OIL & GAS MIDSTREAM & MARKETING Annualized cash flow changes 225 MM per 1.00 / Annualized cash flow changes 65 MM per 0.25 / bbl bbl change in oil prices change in Midland to MEH…
CAPITAL BUDGET FEB 2023 Capital B 2022 Actuals 2023 Plan 20 2023 CAPITAL PLAN Oil & Gas 3.8 4.3 - 4.7 Chemicals 0.3 0.6 Sustaining Capital1 Midstream & Corporate 0.3 0.3 300 MM change from 2022: Subtotal 4.4 5.2 - 5.6 Sustaining…
FINANCIAL INFORMATION 21 DILUTED SHARE COUNT EXAMPLE Basic Shares Outstanding + Incremental Diluted Shares = Total Diluted Outstanding Shares Incremental diluted shares include June 2020 warrants, Berkshire Hathaway warrants, and…
22 APPENDIX Financial Information Oil & Gas Update Asset Overview LCV Overview
OIL & GAS UPDATE 23 DOMESTIC ONSHORE ASSETS PERMIAN 2023 ACTIVITY ROCKIES 2023 ACTIVITY 2.3 B - 2.6 B 24 Gross 11 Net 380 - 410 0.7 - 0.8 B 3 Gross 2 Net 90 105 Capex Rigs Rigs Wells Online Capex Rigs Rigs Wells Online 100% OBO OBO…
DJ BASIN WELL DESIGN CHANGES DRIVING CAPITAL EFFICIENCY 24 Subsurface Design Execution Performance Previous 18 WPS Driving Innovation and Efficiency Development Optimization Niobrara Oxys ingenuity in well design and execution Smaller…
OIL & GAS UPDATE 25 LEADING DELAWARE BASIN WELL PERFORMANCE AVERAGE 6-MONTH CUMULATIVE OIL BY OPERATOR1 AVERAGE 12-MONTH CUMULATIVE OIL BY OPERATOR2 Oxy is 31% above the 6-month basin average Oxy is 21% above the 12-month basin…
DOMESTIC Domestic Onshore Operated Inventory Total Gross Operated Locations 8,000 26 INVENTORY & 6,885 INNOVATION 6,000 5,592 4,000 3,812 Depth of low-breakeven inventory demonstrates quality 2,000 1,321 and quantity of…
Al Hosn Gas Project Execution and Operational Excellence 27 World-class, state-of-the-art sour-gas project Plant capacity increased twice between 2016 and 2018 with minimal capital investment 2021: Expansion project commenced;…
28 APPENDIX Financial Information Oil & Gas Update Asset Overview LCV Overview
OXYS COMBINED INTEGRATED PORTFOLIO 29 Oil & Gas OxyChem Oxy Midstream Focused in world class Leading manufacturer of basic Integrated infrastructure and basins with a history of chemicals and significant cash marketing provide…
OXYCHEM 2,500 Pre-Tax Earnings (EBIT)1 30 MARKET LEADING POSITION 2,000 23 owned facilities worldwide 1,500 MM Integrated assets capture benefits of favorable market conditions 1,000 Top-tier global producer in every product…
MIDSTREAM & MARKETING 31 GUIDANCE RECONCILIATION PHYSICAL MIDSTREAM BUSINESS 2Q23 income exceeded guidance due to lower 2Q23 Guide 2Q23 Actuals 3Q23 Guide gas processing costs and gains on 200 investments. 3Q23 guidance lower…
MIDSTREAM AND MARKETING 32 NARROWING WAHA-HOUSTON SHIP CHANNEL SPREAD Narrowing natural gas spreads and moderating market Waha and HSC Spread volatility lessen Oxys gas marketing income potential 1.0 Permian to Gulf Coast gas…
ONE OF THE LARGEST U.S. ACREAGE HOLDERS 33 9.5 MM Net Total U.S. Acres ROCKIES 1.1 MM ACRES PERMIAN 2.8 MM ACRES POWDER RIVER UNCONVENTIONAL 0.3 MM POWDER RIVER 1.4 MM DJ BASIN CONVENTIONAL 0.8 MM 1.4 MM Excludes acreage…
U.S. ONSHORE OVERVIEW 34 2Q23 NET PRODUCTION ROCKIES Oil NGLs Gas Total 1.1 MM ACRES (Mbod) (Mbbld) (MMcfd) (Mboed) Permian 333 141 646 582 Rockies & Other Dmstc. 76 100 586 273 Total 409 241 1,232 855 OPTIMIZED ADVANCED…
GULF OF MEXICO OVERVIEW 35 ALABAMA GULF OF MEXICO MISSISSIPPI TOTAL ACREAGE 1.0 MM TEXAS LOUISIANA 2Q23 NET PRODUCTION MARLIN Oil (Mbod) 112 HORN MOUNTAIN NGLs (Mbbld) 10 HOLSTEIN NANSEN CONSTITUTION Gas (MMcfd)…
INTERNATIONAL OVERVIEW 36 U.A.E. 2Q23 NET PRODUCTION 2.5 MM ACRES Oil NGLs Gas Total (Mbod) (Mbbld) (MMcfd) (Mboed) Algeria & Other Intl. 28 3 15 34 Al Hosn 15 25 289 88 Dolphin 6 8 152 39 Oman 58 - 53 67 ALGERIA OMAN Total 107…
37 APPENDIX Financial Information Oil & Gas Update Asset Overview LCV Overview
CCUS TECHNOLOGY AND MARKET ADVANCEMENT 38 ROADMAP TO COMMERCIAL DEVELOPMENTS VOLUNTARY & COMPLIANCE POLICY 2021 2024 2025 2030 DE-RISK & INNOVATE MANUFACTURING MODE CURRENT DIRECT AIR MAR 2022 CAPTURE & REVENUE SEQUESTRATION…
DIRECT AIR CAPTURE 39 PROGRESS TOWARD DAC 1 - STRATOS LICENSE TO BUILD Exclusive DAC and AIR TO FUELS license for U.S. deployment. OLCV has a worldwide agreement with Carbon Engineering as the execution partner for all DAC and AIR…
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