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Investor Presentation – Chevron Corp

Chevron Corp · Mar 3, 2015 · 34 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. Investor Presentation – Chevron Corp – slide 1
    Upstream George Kirkland Vice Chairman and Executive Vice President Jay Johnson Senior Vice President 2015 Chevron Corporation
  2. Investor Presentation – Chevron Corp – slide 2
    Themes Performance Low-Price Environment Growth 2015 Chevron Corporation 2
  3. Investor Presentation – Chevron Corp – slide 3
    A Diverse, Worldwide Portfolio Europe, Eurasia North America 2.6 MMBOED 3.1 MMBOED and Middle East 2014 Net Production 2017 Net Production 1,000 1,000 750 750 500 500 250 250 0 0 2014 2017 2014 2017 Africa & Latin America…
  4. Investor Presentation – Chevron Corp – slide 4
    Time-Tested Strategies Grow profitably in core areas and build new legacy positions Achieve world-class operational excellence Maximize and grow the base business Select and execute leading major capital projects Deliver superior…
  5. Investor Presentation – Chevron Corp – slide 5
    2014 Net Production Net Production MBOED Base decline < 3% Base Performance Major Shale and tight 35% 2,597 Base Capital Entitlement Shale growth year-on-year and Price & Tight Projects 2,571 Effects Asset Sales 13 (54) Key…
  6. Investor Presentation – Chevron Corp – slide 6
    Consistent Exploration Success 1.4 BBOE 66% 2.07 Value Creation Resource* Adds Success Rate Unit Finding Cost from Exploration in 2014 in 2014 in 2014 20042013 12 B 6 B TOT 3 B 2014 Discoveries RDS XOM (1) B 10.2 BBOE…
  7. Investor Presentation – Chevron Corp – slide 7
    Delivering Sustained Resource Replenishment 10 Year Resource* Replenishment: 225% Resource Billion Barrels of Oil-Equivalent Replenishment Additions 67.4 55.6 Production 185% Asset Sales 3 Year (9.5) (7.7) 29.0 185% 5 Year…
  8. Investor Presentation – Chevron Corp – slide 8
    Strong Reserve Performance 5 Year Reserve Replacement Ratio: 96% Reserve Billion Barrels of Oil-Equivalent Replacement Ratio 89% 11.3 Production Additions 11.1 1 Year Asset Sales 95% (4.8) (0.2) 4.8 3 Year 98% 2009 2014 10…
  9. Investor Presentation – Chevron Corp – slide 9
    Superior Financial Performance 30 1 1 1 20 17.72 2014 Adjusted 1 1 Earnings Per BOE 10 2010 2011 2012 2013 2014 50 36.16 2014 Upstream 2 Costs Per BOE 30 2 2 3 10 2010 2011 2012 2013 2014 CVX Ranking Relative to IOC…
  10. Investor Presentation – Chevron Corp – slide 10
    Legacy of Upstream Delivery Leading: Safety Performance Low Cost Structure Earnings per Barrel Exploration Value Creation Significant Production Growth 2015 Chevron Corporation 10
  11. Investor Presentation – Chevron Corp – slide 11
    Themes Performance Low-Price Environment Growth 2015 Chevron Corporation 11
  12. Investor Presentation – Chevron Corp – slide 12
    Improving Cash Flow in a Low Price Environment Reducing capital Lowering costs Increasing efficiency Divesting assets Growing volumes 2015 Chevron Corporation 12
  13. Investor Presentation – Chevron Corp – slide 13
    Reducing Capital to Preserve Cash Capital flexibility Upstream C&E Billions increasing 40 Investment priorities: 30 Projects under construction 20 High-return base and 10 shale & tight Attractive longer-term 0 2014 2015…
  14. Investor Presentation – Chevron Corp – slide 14
    Lowering Costs Projects & Operations Upstream Gross Operated Spend Leveraging purchasing power Other 11% Professional Negotiating supplier reductions Services EPC 28% 7% Rebidding key contracts Materials and Maintenance…
  15. Investor Presentation – Chevron Corp – slide 15
    Permian Efficiency and Performance Factory Development Approach Delivering Results Reduced Reduced Increased Reduced drilling cost completion wells per days from spud per foot by cost by rig year by to production by 20 % 28 % 21 %…
  16. Investor Presentation – Chevron Corp – slide 16
    Driving Down Unit Costs in Deepwater Technology Advances i-field Ocean bottom node seismic Optimized completions Efficient Drilling Seafloor pumping Seafloor Pumps i-field automation Ocean Bottom Nodes (Seismic Imaging)…
  17. Investor Presentation – Chevron Corp – slide 17
    Divesting Assets Farm Downs 20092014 Farm Downs / Divestments Manage risk Exploration Pre-Sanction Production Reduce capital Duvernay Wheatstone Chad Leverage investment Nigeria OMLs Gorgon Netherlands Divestments Browse Nigeria…
  18. Investor Presentation – Chevron Corp – slide 18
    Themes Performance Low-Price Environment Growth 2015 Chevron Corporation 18
  19. Investor Presentation – Chevron Corp – slide 19
    High Performing Base Enables Growth Reinvestment mitigates base decline Production Profile Base and Shale & Tight Infill drilling and workovers Average Annual Decline Base major capital projects 0 1% Shale & tight developments <…
  20. Investor Presentation – Chevron Corp – slide 20
    Key Projects and Developments Liard and Horn River Basin Captain EOR Rosebank Kitimat Clair Ridge TCO FGP/WPMP Marcellus Duvernay and Utica Hebron Permian Basin Tahiti Vertical Expansion Stampede Chuandongbei…
  21. Investor Presentation – Chevron Corp – slide 21
    Valuable Permian Growth Leading Position Advantaged Acreage Production Growth 2 MM net acres 2014 Royalty Dollars per Barrel (2) Net Unconventional Production (2) MBOED 85% no or low royalty 20 300 Stacked play advantage 7…
  22. Investor Presentation – Chevron Corp – slide 22
    Bradford Ranch Wolfcamp Development Midland AC/AF 5HB Full Field Layout 1,300 BOED IP, 88% liquids 7,500 lateral Wolfcamp B completion Midland AC/AF 6HB Midland 830 BOED IP, 87% liquids 4,600 lateral Wolfcamp B completion…
  23. Investor Presentation – Chevron Corp – slide 23
    Strong Performance From Jack / St. Malo Jack / St. Malo Gross Production MBOED First production December 2014 125 Reservoir Delivered on time and on budget Surveillance and 100 4 wells currently producing Ramp-up Expect 6…
  24. Investor Presentation – Chevron Corp – slide 24
    Gorgon Delivering First LNG in 2015 Progress 2015 Key Milestones Project 90% complete Fuel gas import for plant commissioning All Train 1 and common modules installed Start-up gas turbine generators All 18 wells drilled and…
  25. Investor Presentation – Chevron Corp – slide 25
    Wheatstone on Plan for 2016 Start-up Progress 2015 Key Milestones Project 57% complete Complete dredging program All 9 production wells drilled to reservoir top Finish drilling all development wells Gravity base and 44 trunkline…
  26. Investor Presentation – Chevron Corp – slide 26
    Other Significant Start-ups 2015-2016 Big Foot Angola LNG Moho Nord Mafumeira Sul Project 94% complete Progressing repairs Construction on all Project 60% complete Installation ongoing Implementing design packages in progress…
  27. Investor Presentation – Chevron Corp – slide 27
    2017 Production Growth Update Strong Base Projected Net Production MBOED Future Shale & Tight LNG* Uncertainties 3,100 Permian (20) Vaca Muerta Offshore* Marcellus / Utica 2,571 Base Shale & 340 Tight Asset Price MCP…
  28. Investor Presentation – Chevron Corp – slide 28
    Optimizing Pre-Sanction Investments Rosebank Buckskin / Moccasin Indonesia Deepwater Optimized design basis Selected capital-efficient Optimizing design basis Incorporated ocean subsea tieback Extending PSCs bottom node seismic…
  29. Investor Presentation – Chevron Corp – slide 29
    TCO Future Growth Optimization Current Status WPMP Sustains Plateau Reducing vendor and contractor costs FGP Grows Peak Production Capacity Progressing detailed engineering Constructing critical infrastructure Finalizing MOU…
  30. Investor Presentation – Chevron Corp – slide 30
    Hub-Scale GOM Discoveries NW Keathley Canyon Hub Concept Benefits Anchor Covers 24 GOM leases Multiple fields per facility Significant discovery Guadalupe oil discovery Reduces overall risk Pay across multiple Tiber and Gila…
  31. Investor Presentation – Chevron Corp – slide 31
    2015 Exploration Program Highlights SA/PZ Liard Basin Clair Duvernay Flemish Pass Midland & Marcellus & Utica Delaware Basins Morocco China Offshore Mauritania GOM DW Thailand Brazil Myanmar Nigeria Angola Cooper…
  32. Investor Presentation – Chevron Corp – slide 32
    Peer Leading Production Growth Net Production Growth* Basis: 2008 = 100 Highest growth 135 of peer group 125 1 Long-term projects 115 approaching start-up 2 1 1 105 2 2 2 2 LNG 95 340 MBOED 85 Offshore 75 250 MBOED 2008…
  33. Investor Presentation – Chevron Corp – slide 33
    Growth Volumes Accretive to Leading Cash Margin Cash Margin Growth* Net Production MMBOED Percentage of 3.5 high margin barrels increasing 3.0 2.5 2.0 Volume growth increases 1.5 operating cash flow 1.0 0.5 0.0 25 /…
  34. Investor Presentation – Chevron Corp – slide 34
    Positioned to Succeed Top cash margins Diverse portfolio Highest production growth Robust opportunity queue Leading cost structure Growing legacy positions 2015 Chevron Corporation 34

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