Third Quarter 2014 Earnings Call Jeff Woodbury Vice President Investor Relations & Secretary October 31, 2014
Headlines Financial results reflect the strength of our integrated business model Year-to-date cash flow from operations and asset sales fully covered net investments and robust shareholder distributions Meeting operational…
Business Environment Mixed economic growth in the third quarter U.S. economy expanded at a moderate pace Chinas economic growth tapered slightly Signs of European economy weakening Crude oil prices decreased sharply; lower Henry…
3Q14 Financial Results Earnings 8.1 Earnings Per Share Diluted (dollars) 1.89 Shareholder Distributions 5.9 CAPEX 9.8 Cash Flow from Operations and Asset Sales1 12.5 Cash2 5.0 Debt 21.8 Billions of dollars unless…
3Q14 Sources and Uses of Funds Cash decreased by 1.3B in the third quarter Beginning Cash1 6.3 Earnings 8.1 Depreciation 4.4 12.5 Working Capital / Other (0.1) Proceeds Associated with Asset Sales 0.1 PP&E Adds / Investments and…
Total Earnings 3Q14 vs. 3Q13 Earnings increased 200M, reflecting higher Downstream and Chemical margins, partly offset by lower Upstream liquids realizations Millions of Dollars 432 175 (110) 8,070 7,870 (297) 3Q13 U/S D/S…
Total Earnings 3Q14 vs. 2Q14 Earnings decreased by 710M as lower gains on Upstream asset sales were partially offset by higher Downstream and Chemical earnings Millions of Dollars 8,780 (1,465) 359 83 8,070 313 2Q14 U/S D/S…
Upstream Earnings 3Q14 vs. 3Q13 Earnings decreased 297M due to lower liquids realizations, partly offset by favorable sales mix effects Millions of Dollars 6,713 (670) 340 30 6,416 3Q13 Realization Vol/Mix Other 3Q14 9
Upstream Earnings 3Q14 vs. 2Q14 Earnings decreased 1.5B due to lower gains on asset sales and lower realizations, partly offset by favorable sales mix effects Millions of Dollars 7,881 (850) 460 (1,070) 6,416 2Q14…
Downstream Earnings 3Q14 vs. 3Q13 Earnings increased 432M due to higher refining margins, partially offset by unfavorable forex and other effects Millions of Dollars 100 (490) 820 1,024 592 3Q13 Margin Vol/Mix Other…
Downstream Earnings 3Q14 vs. 2Q14 Earnings increased 313M reflecting higher non-U.S. refining margins and lower maintenance, partly offset by unfavorable forex and other effects Millions of Dollars 210 (210) 310 1,024…
Chemical Earnings 3Q14 vs. 3Q13 Earnings increased 175M due to higher commodity margins Millions of Dollars 210 10 (40) 1,200 1,025 3Q13 Margin Vol/Mix Other 3Q14 15
Chemical Earnings 3Q14 vs. 2Q14 Earnings increased 359M reflecting stronger product margins Millions of Dollars 350 (10) 20 1,200 841 2Q14 Margin Vol/Mix Other 3Q14 16
Strong Year-To-Date Cash Flow YTD cash flow more than covered investments and shareholder distributions Free Cash Flow: 19.4 billion, increased by 12.0 billion vs. 2013 YTD B 41.5 (22.1) 40 30 (17.6) 20 Dividends 10…
Upstream Delivering Profitable Growth On track for a record start-up year; adding 300 koebd net capacity 1H2014 start-ups PNG LNG CLOV Damar gas Analyst Mtg. Recent achievements 112 Brent 109 Brent Actuals at…
Upstream U.S. Onshore Liquids Growing high-margin liquids production Continuing Bakken development 38% annual growth Optimizing completions, pad development Robust growth in the Woodford 25% annual growth Ardmore pad…
Upstream New Opportunity Growth Successfully progressing high potential exploration plays Ukraine Romania Activity Progressing opportunities in Romania Romania Russia Map Evaluating Domino gas discovery Bulgaria Drilling…
Summary Strong performance underscores the value of our integrated business model Billions of dollars unless specified otherwise YTD Highlights Production volumes on target Earnings 26.0 Improving production mix/profitability…
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