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UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co.

Newfield Exploration Co. · Sep 17, 2014 · 22 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. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 1
    Lee K. Boothby Chairman, President and CEO September 2014
  2. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 2
    Executing Our Vision 1. Focus the asset base 2. Expand our inventory (liquids) 3. Execute our three-year plan 4. Grow oil / liquids production 5. Strengthen the balance sheet
  3. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 3
    - Repositioned asset portfolio to U.S. onshore, liquids-rich plays - Added liquids assets in SCOOP/STACK and Uinta Central Basin - Focused people, capital on plays of the future - Monetizing non-core assets 3
  4. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 4
    - Multiple, stacked geologic pays - Liquids-focused portfolio, deep inventory - Common play attributes allow transfer of technology, people and capital - Operational efficiencies unlocking additional inventory - Drilling…
  5. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 5
    - Key objectives: - Production / reserve growth - Inventory expansion - Improve cost structure - Strengthen the balance sheet - Delivered 2013 plan (year 1) - On track with 2014e-16e plan - Double-digit production & cash flow…
  6. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 6
    - Shifted investments to liquids - Added assets in the Anadarko and Uinta basins - Focused people, capital on plays of the future - SCOOP/STACK, Central Basin - Accelerated liquids growth - Three-year cash flow CAGR: 25% - 2014…
  7. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 7
    Oil Drives Our Future Growth 100% 90% 40% 36% 80% 44% 52% 70% % of Total Company Volumes 60% 18% 50% 17% 19% 13% 40% 30% 39% 41% 46% 20% 35% 10% 0% 2013a 2014e* 2015e* 2016e* Oil NGLs Gas *Assumes guidance…
  8. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 8
    - Non-core asset sales funded transition of the asset base - Sold 2.5 billion in non-strategic assets - Proceeds from Granite Wash sale to reduce long-term debt - Maintained strong credit profile throughout transition 8
  9. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 9
    - Improved credit Total Debt / LTM EBITDA metrics 3.0x 2.0x - Staggered debt 1.0x maturities 0.0x YE12 YE13 2q14 2q14* Debt Maturity Schedule (MM)* - Increased cash flow 2,000 Credit Facility Bonds 0 drawn 6/30/14…
  10. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 10
    2014 Goals 1. Anadarko Basin: 100% production growth a) SCOOP area in active development 2. STACK: Production delineate, HBP 3. Central Basin: Assess and deliver SXL results 4. Williston Basin & Eagle Ford: Grow 35% 5. Post efficiency…
  11. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 11
    Anadarko Basin 250,000 Total Net Acres: STACK 165,000 net acres Added 25,000 net acres YTD 52% 48% Multiple prospective horizons SCOOP South in development Assessing SCOOP North Newfield operated rig running Benefitting through…
  12. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 12
    Anadarko BasinSCOOP 85,000 Net Acres: North SCOOP 42,000 net acres Six industry rigs running in N. SCOOP Active assessment underway Newfield operated rig running South SCOOP 43,000 net acres NEW McElroy Wet Gas Pad (4 XL wells)…
  13. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 13
    Anadarko BasinSTACK 165,000 Total Net Acres: 50% of acreage now production delineated RORs improving through lower completed well costs Best-in-Class well: 10 MM Five NEW STACK wells: Walta, Annuschat, Bernard, Slash C and…
  14. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 14
    Anadarko Basin'13'14 Wells Driving Growth - 69 operated wells - South SCOOP in full field development - Shallower decline rates and higher oil cuts in STACK providing attractive returns Avg. Avg. Avg. Avg. Well Type Wells Gross IP…
  15. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 15
    Anadarko BasinSCOOP & STACK Production 50 40 MBOEPD (avg. net) 30 39,000 BOEPD 20 14,500 BOEPD 10 3,700 BOEPD 0 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 15
  16. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 16
    Uinta BasinRecent SXL Wells Altamont / Bluebell UTAH Jorgensen Ranch Existing Wells Green River Aubrey 2 Perank Central Basin Close Greater Monument Butte Unit (GMBU) Natural Buttes 10 Miles Uteland Butte SXL…
  17. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 17
    Uinta BasinRecent SXL Wells Five SXLs have average IP of 2,100 BOEPD gross Strong 30, 60 & 90-day rates Current Best-in-Class Uteland Butte SXL wells: 11.2 MM (drill & complete) Production performance supporting projected type…
  18. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 18
    Uteland ButteSignificant Resource Potential and Returns ROR% Price deck* 80% 80 90 100 60% 40% 20% 0% 12 11 10 D&C cost ( MM) - Days to depth decreasing - Completed well costs per lateral foot improving - Recent wells…
  19. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 19
    - Newfield is a proven operator: - Demonstrated execution in field - Moved multiple plays from HBP mode to full-field development - Applying lessons learned across the portfolio - Todays developments benefitting from common…
  20. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 20
    Uinta Uteland Butte SXL Uinta - GMBU 50 10 25 5 0 0 2013 2014 YTD Best-in-Class 2004 2014 YTD Best-in-Class Anadarko Basin Williston SXL 50 50 SCOOP 25 STACK 25 0 0 2012 2014 YTD Best-in-Class 2010 2014 YTD…
  21. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 21
    China Update Pearl Topsides installed in August 2014 2% 48% First oil: 4Q14 Working with potential bidders Goal: monetize the business 21
  22. UBS HOUSTON ENERGY BUS LESS TOUR – Newfield Exploration Co. – slide 22
    To Do List 1. Deliver the three-year plan 2. Provide visibility, unlock potential (14-16) 3. Continued efficiencies (always) 4. Monetize China business 5. Update three-year Plan (Feb. 15)

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