CAUTIONARY STATEMENTS 2 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited…
ZERO IN ON VALUE 3 Key Takeaways Operational Efficient operations and marketing optimizations deliver healthy FCF excellence driving financial results Maintaining full year production guidance for legacy Permian and total…
4 OUTLINE Second Quarter Highlights Strategic Updates Financials Closing Comments Marco Polo
SECOND QUARTER HIGHLIGHTS 5 OPERATIONAL EXPERTISE DELIVERING FINANCIAL SUCCESS Oil & Gas Midstream 1,258 +180 MM Mboed Production Adjusted Pre-Tax Income Highest In Four Years Outperformance Financial LCV 1.3 B 500,000 t…
SECOND QUARTER HIGHLIGHTS 6 U.S. ONSHORE OIL & GAS UPDATE OXY EXTENDING U.S. ONSHORE WELL PERFORMANCE LEADERSHIP Highest quarterly U.S. Onshore production in four years Industry-leading 2023 through YTD 2024 well productivity:…
7 OUTLINE Second Quarter Highlights Strategic Updates Financials Closing Comments Marco Polo
Combined Oxy & 8 CrownRock Midland Basin Closed August 1 CROWNROCK ADDS FREE Acreage Position MARTIN Oxy CASH FLOW ACCRETIVE, HOWARD CrownRock PREMIER PERMIAN ASSET MIDLAND GLASSCOCK High-Performing Near-term…
9 CrownRock Adds Value and Scale CrownRock Creates to Midland Basin SCALED MIDLAND BASIN ASSET Achieves new Midland Basin scale with POISED TO DELIVER VALUE basin-leading performance PRO FORMA MIDLAND OPERATING STATISTICS1 9…
ACHIEVING EARLY RAPIDLY DELEVERAGING USING 10 SUCCESS IN DEBT FREE CASH FLOW AND REPAYMENTS DIVESTITURE PROCEEDS 1.4 B 400 MM debt retired year-to-date 4.5 1.9 B of additional debt repayments by end of August 0.8 B 3.1 B 3.0…
11 OUTLINE Second Quarter Highlights Strategic Updates Financials Closing Comments Ingleside Marco Polo
FINANCIALS 12 SECOND QUARTER 2024 RESULTS Reported Reported Production versus Mboed Guidance Midpoint Reconciliation Adjusted diluted EPS1 1.03 PERMIAN Reported diluted EPS1 1.03 New well outperformance and higher base +4 uptime…
FINANCIALS 13 THIRD QUARTER AND FULL-YEAR 2024 GUIDANCE (INCLUDES CROWNROCK BEGINNING 08/01/2024) OIL & GAS 3Q24 FY 2024 MIDSTREAM2 3Q24 FY 2024 Total Company Production (Mboed) 1,370 - 1,410 1,290 - 1,340 Pre-tax Income (175) - (75)…
COMMITMENT TO ANNOUNCED 14 FINANCIAL ACTIONS Quarterly Dividend Increase Increased dividend 0.04 to 0.22 per share Maintain Investment Grade Accretive financial metrics; expect to retain IG ratings On Track 4.5 B Near-Term…
15 OUTLINE Second Quarter Highlights Strategic Updates Financials Closing Comments Marco Polo
DIFFERENTIATED PORTFOLIO 16 Oxys premier diversified assets and distinguished operational capabilities create a runway for sustainable shareholder value accretion OIL & GAS OXYCHEM Diversified portfolio with deep, improving…
17 Appendix
18 APPENDIX Financial Information Oil & Gas Update Asset Overview Low Carbon Ventures Abbreviations and Definitions
PERMIAN 3Q24 Production Guidance 19 PRODUCTION GUIDANCE 800 156 699 587 8 (52) 600 Mboed Strengthening Oxys premier 400 Permian portfolio through 200 organic well performance and portfolio high-grading 0 2Q24 Production 3Q24…
KEY PRO FORMA 2024 GUIDANCE CHANGES 20 Prior New 2024 Guidance, Pro Forma OIL & GAS 2024 Guidance Ex-CrownRock 2024 Guidance Total Company Production (Mboed) 1,220 - 1,280 1,228 - 1,272 1,290 - 1,340 Permian Production (Mboed)…
2024 ONGOING FOCUS 21 CASH FLOW Maintain Production Base Preserve asset base integrity PRIORITIES and longevity Sustainable & Growing Dividend Apply technical and Through-the-cycle sustainability operational excellence to with…
SHAREHOLDER RETURN PRIORITIES 22 Divestiture proceeds1 and ECF after Retire debt Sustainable and common dividend allocated to debt opportunistically growing dividend reduction until principal…
FINANCIAL INFORMATION 23 CASH FLOW SENSITIVITIES SENSITIVITIES INCLUDE ANNUALIZED AUG-DEC CROWNROCK IMPACT OIL & GAS MIDSTREAM & MARKETING Annualized cash flow changes 260 MM per 1.00 / Annualized cash flow changes 65 MM per 0.25 /…
FINANCIAL INFORMATION 24 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…
25 APPENDIX Financial Information Oil & Gas Update Asset Overview Low Carbon Ventures Abbreviations and Definitions
OIL & GAS UPDATE 26 DOMESTIC ONSHORE ACTIVITY PLAN UPDATE PERMIAN 2024 ACTIVITY (EX-CROWNROCK) ROCKIES 2024 ACTIVITY 2.6 B 21 Gross 10 Net 390 - 430 0.9 B 2 Gross 2 Net 160 180 Capex Rigs Rigs Wells Online Capex Rigs Rigs Wells…
OIL & GAS UPDATE 27 FULL YEAR 2024 CROWNROCK ACTIVITY SUMMARY CrownRock team maintained stable operations and activity levels in 2023 and throughout 2024 Investment profile relatively flat throughout the year, creates modest…
SUBSURFACE EXPERTISE TURNING SECONDARY 28 HORIZONS INTO TIER 1 OPPORTUNITIES Oxy Delaware Leading the Way Driving Inventory Improvement Secondary Wells Continue Outperformance and Expansion 500 nearly matching Oxys record-…
TOP 10 HORIZONTAL WELLS 29 IN DELAWARE BASIN CONTINUING TO RAISE THE BAR WITH INDUSTRY-LEADING WELLS First 6-Month Cumulative Production, Mboe 0 250 500 750 1,000 1 2 3 4 5 6 7 8 9 10 SOURCE: ENVERUS PRISM…
30 APPENDIX Financial Information Oil & Gas Update Asset Overview Low Carbon Ventures Abbreviations and Definitions
OXYS COMBINED INTEGRATED PORTFOLIO 31 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 Income 32 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 principal 500…
MIDSTREAM & MARKETING 33 GUIDANCE RECONCILIATION PHYSICAL MIDSTREAM & LCV BUSINESSES 2Q24 Guide 2Q24 Actuals 3Q24 Guide 2Q24 income above guidance primarily 200 due to lower losses on equity investments Quarterly Pre-Tax Income (…
ONE OF THE LARGEST U.S. ACREAGE HOLDERS 34 9.5 MM Net Total U.S. Acres ROCKIES 1.0 MM ACRES PERMIAN 2.8 MM ACRES POWDER RIVER UNCONVENTIONAL 0.3 MM POWDER RIVER 1.4 MM DJ BASIN CONVENTIONAL 0.7 MM 1.4 MM Excludes acreage…
U.S. ONSHORE OVERVIEW 35 2Q24 NET PRODUCTION ROCKIES Oil NGLs Gas Total 1.0 MM ACRES (Mbod) (Mbbld) (MMcfd) (Mboed) Permian 339 136 671 587 Rockies & Other Dmstc. 98 103 630 306 Total 437 239 1,301 893 OPTIMIZED ADVANCED…
GULF OF MEXICO OVERVIEW 36 ALABAMA GULF OF MEXICO MISSISSIPPI TOTAL ACREAGE 1.1 MM TEXAS LOUISIANA 2Q24 NET PRODUCTION MARLIN Oil (Mbod) 116 HORN MOUNTAIN NGLs (Mbbld) 10 HOLSTEIN CONSTITUTION Gas (MMcfd) 70…
INTERNATIONAL OVERVIEW 37 UAE1 2Q24 NET PRODUCTION 2.5 MM ACRES Oil NGLs Gas Total (Mbod) (Mbbld) (MMcfd) (Mboed) Algeria & Other Intl. 27 3 19 33 Al Hosn 15 27 291 91 Dolphin 6 8 152 39 Oman 54 - 59 64 ALGERIA OMAN Total 102…
38 APPENDIX Financial Information Oil & Gas Update Asset Overview Low Carbon Ventures Abbreviations and Definitions
LOW CARBON VENTURES 39 EMERGING LOW-CARBON BUSINESSES COMMERCIALIZING CCUS AND DAC DECARBONIZATION SOLUTIONS Expected 2024 Net Capital Expenditures1 600 MM Continued construction of STRATOS (DAC 1); expected to be commercially…
LOW CARBON VENTURES DAC INVESTMENT PRINCIPLES 40 Developing competitive-returns business with cash flow stability Returns Focused DAC 2+ to meet return threshold for FID Demand-Driven Market demand to drive development pace…
41 APPENDIX Financial Information Oil & Gas Update Asset Overview Low Carbon Ventures Abbreviations and Definitions
ABBREVIATIONS AND DEFINITIONS 42 Abbreviations B Billion F&C Facilities and Construction MBWD Thousand Barrels of Water per Day BBL Barrel FCF Free Cash Flow MM Million BO Barrel of Oil FID Final Investment Decision MMBTU One Million…
Loading...
