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2014 Analyst Meeting – ExxonMobil

ExxonMobil · Mar 5, 2014 · 72 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. 2014 Analyst Meeting – ExxonMobil – slide 1
    2014 Analyst Meeting New York Stock Exchange March 5, 2014
  2. 2014 Analyst Meeting – ExxonMobil – slide 2
    Agenda 9am Welcome David Rosenthal, Vice President, Investor Relations and Secretary Financial & Operating Review Energy Outlook Strategic Overview Rex Tillerson, Chairman and CEO Risk Management Delivering Profitable Growth…
  3. 2014 Analyst Meeting – ExxonMobil – slide 3
    Financial & Operating Review Rex Tillerson Chairman and CEO
  4. 2014 Analyst Meeting – ExxonMobil – slide 4
    Financial & Operating Review Key Messages Maintaining relentless focus on risk management and operational excellence Major project start-ups delivering production volume growth through 2017 Improving Upstream unit profitability…
  5. 2014 Analyst Meeting – ExxonMobil – slide 5
    Financial & Operating Review 2013 Results Sustained solid financial and operating results Improved safety performance Rigorous environmental management Strong financial / operating results Earnings 32.6B ROCE 17.2% Cash flow…
  6. 2014 Analyst Meeting – ExxonMobil – slide 6
    Financial & Operating Review Safety Performance Committed to safe operations Workforce Lost-Time Incident Rate Incidents per 200K hours 0.2 Continued emphasis on personnel and process safety Committed to our vision of 0.1…
  7. 2014 Analyst Meeting – ExxonMobil – slide 7
    Financial & Operating Review Environmental Performance Committed to reducing environmental impacts Cogeneration Capacity & Hydrocarbon Flaring Indexed change, 09 13 120 Strong environmental performance Cogeneration 100…
  8. 2014 Analyst Meeting – ExxonMobil – slide 8
    Financial & Operating Review Earnings Earnings remain strong at 32.6B in 2013 Earnings B 50 Total earnings Industry-leading results in all business Chemical Downstream segments 40 Upstream 30 Lower gains from divestments…
  9. 2014 Analyst Meeting – ExxonMobil – slide 9
    Financial & Operating Review Upstream Earnings per Barrel Managing the Upstream portfolio to improve unit profitability Earnings per OEB* /OEB 30 Improving production mix 25 CVX Highgrading portfolio 20 XOM 15 TOT…
  10. 2014 Analyst Meeting – ExxonMobil – slide 10
    Financial & Operating Review Reserves Replacement Consistently replacing reserves and adding quality resources Proved Reserves Replacement* Percent 150 2013 20 straight years of more than 100% 09 13, average replacement 100…
  11. 2014 Analyst Meeting – ExxonMobil – slide 11
    Financial & Operating Review Return on Capital Employed Proven business model continues to deliver ROCE leadership Return on Average Capital Employed* Percent 25 ROCE of 17% in 2013 2013 20 09 13, average Investments position…
  12. 2014 Analyst Meeting – ExxonMobil – slide 12
    Financial & Operating Review Free Cash Flow Superior cash flow provides financial flexibility Free Cash Flow* B 25 Generated free cash flow of 104B since 2013 beginning of 2009 20 09 13, average 15 Balanced, high-quality…
  13. 2014 Analyst Meeting – ExxonMobil – slide 13
    Financial & Operating Review Unmatched Shareholder Distributions Disciplined capital allocation Shareholder Distributions as % of Cash Flow from Operations and Asset Sales* Invest in attractive business opportunities Percent 100…
  14. 2014 Analyst Meeting – ExxonMobil – slide 14
    Financial & Operating Review Increasing Ownership Enhanced per-share interest in ExxonMobil production Production Growth per Share* Indexed growth, 09 13 120 Each share has an interest in 16% more XOM production volumes 110…
  15. 2014 Analyst Meeting – ExxonMobil – slide 15
    Financial & Operating Review Share Performance Long-term returns exceed competitor average and S&P 500 Shareholder Returns K, value of 1,000 invested (as of YE 2013) 12 Performance and returns best measured ExxonMobil over long…
  16. 2014 Analyst Meeting – ExxonMobil – slide 16
    Energy Outlook Rex Tillerson Chairman and CEO
  17. 2014 Analyst Meeting – ExxonMobil – slide 17
    Energy Outlook Energy Demand to 2040 Global energy demand expected to grow about 35% by 2040 Energy Demand Quadrillion BTUs Oil and natural gas are leading sources as 250 energy mix evolves 0.7% 200 1.7% Higher oil demand driven…
  18. 2014 Analyst Meeting – ExxonMobil – slide 18
    Energy Outlook Developing Economies Lead Growth Asia Pacific will account for about 65% of global demand increase Non-OECD Countries* OECD Countries* Quadrillion BTUs Quadrillion BTUs 500 500 Other** Biomass 400 Nuclear 400…
  19. 2014 Analyst Meeting – ExxonMobil – slide 19
    Energy Outlook Liquids and Gas Supplies Expand and Diversify Advances in technology enable growth from unconventional resources Liquids Gas MOEBD BCFD 120 720 Other 100 Oil sands 600 Tight oil Rest of World 80 Deepwater 480…
  20. 2014 Analyst Meeting – ExxonMobil – slide 20
    Energy Outlook Transportation Product Demand Diesel will surpass gasoline as the primary transportation fuel Global Demand MOEBD Transportation product mix will shift as 75 demand rises more than 40% Other Natural gas 60 Fuel…
  21. 2014 Analyst Meeting – ExxonMobil – slide 21
    Energy Outlook Global Chemical Demand Chemical demand growth driven by Asia Pacific Global Chemical Demand* Million metric tons Demand growth rate above GDP as 250 standards of living improve Asia Pacific Rest of World 200…
  22. 2014 Analyst Meeting – ExxonMobil – slide 22
    Energy Outlook Key Perspectives Outlook guides our business strategy and investment plans Development of practical, reliable and affordable energy remains paramount Access to high-quality resources both necessary and challenging…
  23. 2014 Analyst Meeting – ExxonMobil – slide 23
    Strategic Overview Rex Tillerson Chairman and CEO
  24. 2014 Analyst Meeting – ExxonMobil – slide 24
    Strategic Overview Key Elements of ExxonMobil Strategy Unrelenting focus on creating long-term shareholder value Employ effective risk management and lead industry in operational excellence Manage a diversified, balanced portfolio…
  25. 2014 Analyst Meeting – ExxonMobil – slide 25
    Risk Management Rex Tillerson Chairman and CEO
  26. 2014 Analyst Meeting – ExxonMobil – slide 26
    Risk Management Risk management is at the core of our business Operations Integrity Management System (OIMS) Systematic managed approach Rigorously applied systems and processes Clearly defined policies, standards and practices…
  27. 2014 Analyst Meeting – ExxonMobil – slide 27
    Risk Management Incident Prevention & Emergency Preparedness Leveraging proven systems Comprehensive risk assessment protocols Sound design, construction, operating and maintenance standards Continuous inspection and…
  28. 2014 Analyst Meeting – ExxonMobil – slide 28
    Delivering Profitable Growth Rex Tillerson Chairman and CEO
  29. 2014 Analyst Meeting – ExxonMobil – slide 29
    Delivering Profitable Growth Key Elements 29
  30. 2014 Analyst Meeting – ExxonMobil – slide 30
    Delivering Profitable Growth Major Project Production Outlook Delivering 1 MOEBD by 2017 Major Project Production by Start-up Year* Select Projects MOEBD, net 1.0 Hebron Julia Phase 1 Upper Zakum 750 0.8 Gorgon Jansz Kearl…
  31. 2014 Analyst Meeting – ExxonMobil – slide 31
    Delivering Profitable Growth Upstream Production Improvements Strategic choices to improve unit profitability Total Production Outlook* MOEBD, net Maintain disciplined capital allocation 5.0 2013 Analyst Meeting 4.8 Reduce lower…
  32. 2014 Analyst Meeting – ExxonMobil – slide 32
    Delivering Profitable Growth Upstream Production Outlook Improving volume and profitability mix Total Production Outlook* MOEBD, net Total production outlook 2.4 Liquids 2014: Flat 2015 2017: up 2-3% per year 2.2 Liquids…
  33. 2014 Analyst Meeting – ExxonMobil – slide 33
    Delivering Profitable Growth Investment Plan Disciplined investing through the business cycle Capex by Business Line B Acquisitions 2013 peak total capex year 50 Chemical Downstream Upstream Expect to invest 39.8B in 2014 40…
  34. 2014 Analyst Meeting – ExxonMobil – slide 34
    Delivering Profitable Growth Free Cash Flow Strong track record of free cash flow continues Free Cash Flow B Inflection point after intensive Upstream 40 capital spending program 30 Upstream volume production growth Improved…
  35. 2014 Analyst Meeting – ExxonMobil – slide 35
    Upstream Production Growth through 2017 Mark Albers Senior Vice President
  36. 2014 Analyst Meeting – ExxonMobil – slide 36
    Upstream Production Growth through 2017 Major Project Start-ups Large inventory of diverse projects Asia Developing 24 BOEB Africa Pursuing 120 projects; 21 start-ups by 2017 Australia/Oceania Diverse resource types…
  37. 2014 Analyst Meeting – ExxonMobil – slide 37
    Upstream Production Growth through 2017 North American Growth Well positioned for profitable growth in North America Alaska Montney / Duvernay Athabasca Strong and diverse leasehold position Bakken Marcellus/ Utica…
  38. 2014 Analyst Meeting – ExxonMobil – slide 38
    Upstream Production Growth through 2017 US Liquids Growth Highgrading opportunity pursuit towards liquids-rich plays Onshore U.S. Operated Rigs 75 Oil and Liquids-rich Near-term focus on high-margin liquids 50 Gas production 25…
  39. 2014 Analyst Meeting – ExxonMobil – slide 39
    Upstream Production Growth through 2017 Bakken Tight Oil Delivering high-margin growth in the Onshore U.S. Gross Operated Production (KBOED) 75 Development Strong growth in premier tight oil play 50 900 million BOE resource…
  40. 2014 Analyst Meeting – ExxonMobil – slide 40
    Upstream Production Growth through 2017 Oil Sands Kearl Start-up Initiated production - providing 40+ years of plateau volumes Innovative froth treatment design creating value and driving capital efficiency 4.6 billion-barrel…
  41. 2014 Analyst Meeting – ExxonMobil – slide 41
    Upstream Production Growth through 2017 Oil Sands Value Chain Integration Leveraging full value chain to maximize profitability: Research Production Logistics Refining Marketing Capturing technology benefits and near-term…
  42. 2014 Analyst Meeting – ExxonMobil – slide 42
    Upstream Production Growth through 2017 Conventional Improving unit profitability Abu Dhabi Upper Zakum to 750 KBD Artificial islands with long reach wells Improved fiscal terms Indonesia Banyu Urip 450 MBO onshore oil…
  43. 2014 Analyst Meeting – ExxonMobil – slide 43
    Upstream Production Growth through 2017 Deepwater Building on significant deepwater experience Faroe Islands Extensive portfolio of high quality resources Black Sea Capturing near-term benefits of existing GOM infrastructure…
  44. 2014 Analyst Meeting – ExxonMobil – slide 44
    Upstream Production Growth through 2017 Papua New Guinea LNG Execution capability unlocks value High quality 9 TCF resource Execution leveraging global expertise Remote mountainous terrain 200 crossings; 9,000 ft. elevation…
  45. 2014 Analyst Meeting – ExxonMobil – slide 45
    Upstream Production Growth through 2017 Arctic Continuing more than 90 years of arctic development Sakhalin-1 Arkutun-Dagi Installing topsides in mid-2014 Target start-up around year-end 2014 Hebron Gravity-based structure and…
  46. 2014 Analyst Meeting – ExxonMobil – slide 46
    Upstream Production Growth through 2017 Improving Efficiency, Recovery and Reliability Maximizing value of installed capacity Industry-leading reliability Close to 25% less downtime Industry-leading cost management Operating…
  47. 2014 Analyst Meeting – ExxonMobil – slide 47
    Upstream Production Growth through 2017 Summary Major start-ups delivering 1 MOEBD net production by 2017 Delivering profitable growth Deep and diverse portfolio Superior execution capability Industry-leading technologies…
  48. 2014 Analyst Meeting – ExxonMobil – slide 48
    Upstream Long-Term Opportunity Set Andrew Swiger Senior Vice President
  49. 2014 Analyst Meeting – ExxonMobil – slide 49
    Upstream Long-Term Opportunity Set Resource Base Superior resource base underpins high-quality projects BOEB 90 Heavy Oil / Oil Large, diverse, and well-balanced portfolio Sands Evaluating Gas 25 BOEB proved reserves 60…
  50. 2014 Analyst Meeting – ExxonMobil – slide 50
    Upstream Long-Term Opportunity Set New Opportunity Growth Large portfolio of quality opportunities enables selectivity Laptev Sea Beaufort Kara Sea Chukchi Sea Faroe Islands Horn River Summit Creek Norway Athabasca Germany West…
  51. 2014 Analyst Meeting – ExxonMobil – slide 51
    Upstream Long-Term Opportunity Set Russia Exploring highly prospective Arctic basins Greenland Some of the largest undiscovered potential in the world Norway Alaska 188 million acres Numerous basins Data gathering well under…
  52. 2014 Analyst Meeting – ExxonMobil – slide 52
    Upstream Long-Term Opportunity Set Black Sea Strong position in emerging new hydrocarbon province Ukraine Appraising Romania Domino discovery Multi-TCF discovery Significant follow-on potential Russia Romania Domino Skifska…
  53. 2014 Analyst Meeting – ExxonMobil – slide 53
    Upstream Long-Term Opportunity Set Kurdistan Region of Iraq Testing large structures in proven plays Significant hydrocarbon potential Offset discoveries Six PSCs; multiple plays Acquired seismic data in 2013 Two rig…
  54. 2014 Analyst Meeting – ExxonMobil – slide 54
    Upstream Long-Term Opportunity Set Global Unconventional Advancing potential world-class unconventional plays Leveraging XTO capabilities Argentina delineating play High-potential Vaca Muerta oil and gas shale plays Testing under…
  55. 2014 Analyst Meeting – ExxonMobil – slide 55
    Upstream Long-Term Opportunity Set Africa Growing number of new opportunities 4.5M gross acres through new country entries South Africa, Gabon, and Liberia Chad Resumed activities in Madagascar Nigeria Liberia Eq. Guinea…
  56. 2014 Analyst Meeting – ExxonMobil – slide 56
    Upstream Long-Term Opportunity Set LNG Portfolio Well positioned to meet rapidly growing LNG demand Alaska Growing global LNG demand South Hook Expected to more than double by 2025 W.Canada Sakhalin New supplies required…
  57. 2014 Analyst Meeting – ExxonMobil – slide 57
    Upstream Long-Term Opportunity Set North America LNG Opportunities Matching abundant local supply with export capability Global LNG Supply MTA 750 North America Golden Pass Rest of World FTA permit in place; pursuing non-FTA…
  58. 2014 Analyst Meeting – ExxonMobil – slide 58
    Upstream Long-Term Opportunity Set Upstream Summary Well positioned for long-term profitable growth Superior resource base Large new opportunity set Project selectivity and capital efficiency Unlock potential through…
  59. 2014 Analyst Meeting – ExxonMobil – slide 59
    Strengthening the Downstream & Chemical Portfolio Mike Dolan Senior Vice President
  60. 2014 Analyst Meeting – ExxonMobil – slide 60
    Strengthening the Downstream and Chemical Portfolio Premier Businesses Sustained industry-leading results Best-in-class operations Flexibility and optimization tools Technology-enabled, high-value product growth Industry-leading…
  61. 2014 Analyst Meeting – ExxonMobil – slide 61
    Strengthening the Downstream and Chemical Portfolio Increasing Advantage in the Downstream Focus on strategic assets Lowering raw material cost Increasing high-value product yield Expanding logistics capability Reducing…
  62. 2014 Analyst Meeting – ExxonMobil – slide 62
    Strengthening the Downstream and Chemical Portfolio Lowering Raw Material Cost New crude production driving investments Mid-Continent* / Gulf Coast Equity Refining Capacity KBD Largest Mid-Continent / Gulf Coast refining 2500…
  63. 2014 Analyst Meeting – ExxonMobil – slide 63
    Strengthening the Downstream and Chemical Portfolio Increasing High Value Product Yield Expanding diesel and lubes production Increased diesel capacity in Singapore and Saudi Arabia Developing coker project at Antwerp…
  64. 2014 Analyst Meeting – ExxonMobil – slide 64
    Strengthening the Downstream and Chemical Portfolio Strategic Investments in Chemical Developing major projects in United States, Saudi Arabia, and Singapore Capture advantaged feedstocks Reduce production costs Increase…
  65. 2014 Analyst Meeting – ExxonMobil – slide 65
    Strengthening the Downstream and Chemical Portfolio United States Growing North American advantage U.S. Ethylene Production from Ethane* Percent World-scale ethylene plant at Baytown 100 ExxonMobil Maximizes value of…
  66. 2014 Analyst Meeting – ExxonMobil – slide 66
    Strengthening the Downstream and Chemical Portfolio Saudi Arabia Expanding specialties footprint World-scale synthetic rubber and elastomer facilities Builds on existing JV platform Supports development of rubber value chain…
  67. 2014 Analyst Meeting – ExxonMobil – slide 67
    Strengthening the Downstream and Chemical Portfolio Singapore Serving Asia Pacific growth markets Adding synthetic rubber and adhesive products World-scale, based on advantaged feedstocks Lower-cost production via…
  68. 2014 Analyst Meeting – ExxonMobil – slide 68
    Strengthening the Downstream and Chemical Portfolio Summary Positioned to continue delivering industry-leading results Downstream and Chemical Combined ROCE Percent Sustained, industry-leading financial 40 performance across the…
  69. 2014 Analyst Meeting – ExxonMobil – slide 69
    Break
  70. 2014 Analyst Meeting – ExxonMobil – slide 70
    Summary Rex Tillerson Chairman and CEO
  71. 2014 Analyst Meeting – ExxonMobil – slide 71
    Summary Positioned to Deliver Profitable Growth 71
  72. 2014 Analyst Meeting – ExxonMobil – slide 72
    Summary Key Messages Maintaining relentless focus on risk management and operational excellence Major project start-ups delivering production volume growth through 2017 Improving Upstream unit profitability Developing a unique…

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