Resilient Value Proposition Foster Creek Growth and returns with a competitive dividend Well positioned for current environment Announced 2015 capital budget of 13.5 B Exploration & Appraisal Exploration & Appraisal Major…
Unmatched Position Today 1,473 MBOED Production1 3Q14 North Liquids Diversified asset base with scope and scale American 25% Gas Multiple sources of growth LNG + 57% International 18% Massive positions in key resource trends Gas…
Committed to Shareholder Returns Dividend Yield Competitive dividend is appropriate and remains key to our value proposition Highest priority use of cash 4.2% Enhances capital discipline Predictable portion of shareholder…
The Power of Portfolio: Margins, Decline Rates and Returns Low Margins High Margins Highest Margins North American Short-cycle cash flow Higher Unconventionals Avoid over capitalizing Increases capital intensity of…
U.S. Liquids-Rich Unconventional Reservoir Revolution U.S. Oil Production Top Four Oil Producing States 10 3.0 Texas 2.5 8 2.0 MMBD MMBD 6 1.5 Alaska Conventional North Dakota Decline Curve 1.0 4 California 0.5…
U.S. Unconventional Reservoirs Liquids Production Growth 4.1 MMB per Day 3.1 MMB per Day 1.3 MMB 0.5 MMB per Day per Day OPEC production ranked from highest (Saudi Arabia) to lowest per 2013 IEA reported production…
North American Unconventionals: Unmatched Portfolio and Capabilities Montney Duvernay Great positions in proven and emerging plays Eagle Ford and Bakken sweet spots Bakken Exceptional growth in high-margin resource base Niobrara…
Eagle Ford: Significant Resource Increase, Robust Production Growth 220 M net acres; acreage capture complete GONZALES TEXAS LAVACA WILSON 96% average operated working interest DE WITT 1.8 BBOE to 2.5 BBOE net EUR increase…
Eagle Ford: Premium Value from Best Wells in the Play 250 Highest Oil Rates per Well1 60 Industry-Leading Value2 50 200 Gross Operated Production (BPD) 40 NPV10 per Acre (M) 150 30 100 20 50 10 0 0…
Eagle Ford: Value-Driven Approach to Well Density, Considerable Upside 2013 2014 Transition to High/Low Evaluating Further Upside Lower Eagle Ford 80-acre1 Single Layer Lower Eagle Ford 80-acre1 High/Low Lower Eagle Ford 40-acre2 1.8…
Bakken: High-Margin, Extremely Liquids-Rich Production Growth 620 M net acres; mostly HBP or COP minerals 45% average operated working interest 600 MMBOE net EUR 1,800 identified gross drilling locations Outlook based on average…
Bakken: Advantaged Position in the Heart of the Trend Montana North Dakota Bakken Acreage Values by Area (NPV10 per Acre)1 VALLEY ROOSEVELT WILLIAMS MOUNTRAIL Nesson Anticline Anticline Parshall-Sanish Fort Berthold Williams Core…
Unconventional Reservoir Technology and Knowledge Sharing ConocoPhillips Google ConocoPhillips Current Avg. Completion Design Apple Cumulative Production IBM 350% Facebook Microsoft Avg. Amazon Initial Design…
Resilient Value Proposition Foster Creek Growth and returns with a competitive dividend Well positioned for current environment Announced 2015 capital budget of 13.5 B Exploration & Appraisal Exploration & Appraisal Major…
Annualized Net Income Sensitivities Crude Brent/ANS: 80-90MM change for 1/BBL change WTI: 35-40MM change for 1/BBL change WCS: 30-40MM change for 1/BBL change North American NGL Representative blend: 10-15MM change for 1/BBL…
Meeting Our Growth Targets 4% PRODUCTION Full-Year Guidance on GROWTH1 Track Actual Actual 3Q14 vs. 4Q14 Drivers Actual Major turnarounds completed in 3Q14 Major project ramp Value-driven ethane rejection 1Q14 2Q14…
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