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Q1 2014 Earnings Conference Call – Devon Energy Corp

Devon Energy Corp · May 7, 2014 · 14 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q1 2014 Earnings Conference Call – Devon Energy Corp – slide 1
    First-Quarter 2014 Earnings Conference Call May 7, 2014
  2. Q1 2014 Earnings Conference Call – Devon Energy Corp – slide 2
    First-Quarter 2014 Highlights Delivered U.S. oil production growth of 56% year over year(1) Achieved excellent well results in the Delaware Basin Eagle Ford contributed 1 month of production to Q1 Expanded operating margins by…
  3. Q1 2014 Earnings Conference Call – Devon Energy Corp – slide 3
    Delivering Strong Oil Growth U.S. Oil Production (1) Total Oil Production (1) Q4 2014e Product Mix (1) (MBOD) (MBOD) 176 146 37% 98 43% 63 20% Q1 2013 Q1 2014 Q1 2013 Q1 2014 U.S. Canada Oil NGLs Natural Gas…
  4. Q1 2014 Earnings Conference Call – Devon Energy Corp – slide 4
    Higher Revenues & Expanding Margins Oil-Weighted Upstream Revenue Unhedged Operating Margin per BOE (1) Increased 42% Year over Year Q1 2014 Revenue Mix 32.23 15% 20.87 52% 33% Q1 2013 Q1 2014 Oil NGLs Natural Gas…
  5. Q1 2014 Earnings Conference Call – Devon Energy Corp – slide 5
    2014 Production Growth Targets U.S. Oil Production (1) Total Oil Production (1) BOE Production (1) (MBOD) (MBOD) (MBOED) 198 - 216 579 - 622 539 152 124 - 136 73 2013 2014e 2013 2014e 2013 2014e U.S. Canada 6:1…
  6. Q1 2014 Earnings Conference Call – Devon Energy Corp – slide 6
    Preliminary 2015 Outlook Total Oil Production (1) Key Highlights (MBOD) On track to deliver 2015e oil production growth 20% (1) Driven by Eagle Ford, Permian and Jackfish 3 Oil 198 - 216 High margin production growth…
  7. Q1 2014 Earnings Conference Call – Devon Energy Corp – slide 7
    Jackfish SAGD Developments Significant Free Cash Flow Generation Free Cash Flow Outlook 1,200 1,000 800 in millions 600 400 200 0 2014e 2015e 2016e 2017e 2018e 2019e 2020e 2021e 2022e 2023e 2024e 2025e…
  8. Q1 2014 Earnings Conference Call – Devon Energy Corp – slide 8
    Devon Oil Production Significant Oil Producer in North America Q4 2013 Oil Production Pro Forma New Devon(1) vs. N.A. Onshore Pure-Play Peers 250 200 150 MBOD 100 50 0 EOG CHK CLR WLL PXD CXO NFX OAS XEC SD MEG…
  9. Q1 2014 Earnings Conference Call – Devon Energy Corp – slide 9
    Delaware Basin Significant Resource Opportunity Delaware Sands 80,000 net acres Leonard Shale Central Eddy 60,000 net acres Bone Spring 285,000 net acres Lea Wolfcamp New Mexico Texas 100,000 net acres Loving…
  10. Q1 2014 Earnings Conference Call – Devon Energy Corp – slide 10
    Delaware Basin Significant Resource Opportunity 2014e Risked Producing Activity Undrilled Formation Net Acres Wells (Wells Drilled) Locations Delaware Sands 80,000 78 20 700 Leonard Shale 60,000 40 1 700 Bone Spring 285,000…
  11. Q1 2014 Earnings Conference Call – Devon Energy Corp – slide 11
    Eagle Ford Production Outlook 2014e Production Outlook Multi-Year Production Outlook (MBOED) (MBOED) 100 80 85 70 80 (1) 65 70 64 49 March 2014 Current Q2 2014e 2H 2014e 2014e 2015e (1) Represents Devons estimated…
  12. Q1 2014 Earnings Conference Call – Devon Energy Corp – slide 12
    Eagle Ford Lavaca County Recent Industry Success Sustr 1H Devons Lavaca County 24-Hr IP: 1,054 BOED Pavlicek Un 2H Net acres: 32,000 24-Hr IP: 1,319 BOED Targac…
  13. Q1 2014 Earnings Conference Call – Devon Energy Corp – slide 13
    Other Core & Emerging Assets First Quarter Highlights Thermal Heavy Oil Thermal Heavy Oil Q1 Gross Production: 62,000 BOD Jackfish 1 & 2 excellent performance Q1 Net Production: 52,000 BOD Jackfish 3 plant commissioning underway…
  14. Q1 2014 Earnings Conference Call – Devon Energy Corp – slide 14
    Q&A

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