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HOWARD WEIL CONFERENCE – Chesapeake Energy Corp

Chesapeake Energy Corp · Mar 24, 2015 · 16 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. HOWARD WEIL CONFERENCE – Chesapeake Energy Corp – slide 1
    HOWARD WEIL CONFERENCE March 24th, 2015 1 I HOWARD WEIL CONFERENCE 3/24/2015
  2. HOWARD WEIL CONFERENCE – Chesapeake Energy Corp – slide 2
    FLEXIBLE & FOCUSED TRACK RECORD OF PERFORMANCE 40 65% improvement in capital efficiency in major assets Industry-leading cash costs Balance sheet improvements CHESAPEAKE SPEED A STRATEGIC STRENGTH Ability to ramp up or down in…
  3. HOWARD WEIL CONFERENCE – Chesapeake Energy Corp – slide 3
    LOWERING 2015 CAPEX AND ACTIVITY D&C Capex & Rig Count Completion Activity 1.4 60 300 18 16 D&C CAPEX ( in billions) 1.2 50 250 14 1.0 40 200 12 Frac Crews Well Count Rig Count 0.8 10 30 150 0.6 8 20 100 6 0.4…
  4. HOWARD WEIL CONFERENCE – Chesapeake Energy Corp – slide 4
    REDUCED ACTIVITY LEVELS 2015E 2015E YE 2015 Avg.Op Rigs Avg.Op Rigs Op. Rigs (2/25 Outlook) (3/23 Outlook) (3/23 Outlook) Eagle Ford 12 14 8 10 24 Utica 35 35 23 Haynesville 78 56 24 PRB: Niobrara & Upper Cretaceous 34 23 12…
  5. HOWARD WEIL CONFERENCE – Chesapeake Energy Corp – slide 5
    6B AVAILABLE LIQUIDITY BY YE 2015 70 Production (mmboe) 2.5 Uses of Cash D&C Capex Other Capex 60 Base Wedge 2.0 Interest 50 Dividend Operating Expense(1) in billions 1.5 40 30 1.0 20 0.5 10 0 0.0 1Q'15 2Q'15 3Q'15…
  6. HOWARD WEIL CONFERENCE – Chesapeake Energy Corp – slide 6
    EAGLE FORD MATCHING ACTIVITY TO COMMODITY PRICING Accelerating rig drops to reflect current commodity price environment Driving performance through further capital cost reductions Evaluating downspacing tests with additional coverage…
  7. HOWARD WEIL CONFERENCE – Chesapeake Energy Corp – slide 7
    HAYNESVILLE NEW WELL DESIGNS ENHANCE PERFORMANCE Increasing lateral length and enhancing stimulation techniques Expect EUR to double with 42% cost reduction per completed foot 50% improvement in capital efficiency Enhanced…
  8. HOWARD WEIL CONFERENCE – Chesapeake Energy Corp – slide 8
    MISSISSIPPIAN LIME REDUCING COSTS & EXPANDING OUR POSITION 45% capital reduction expected over a 3-year period 20% improvement in EUR since 2012 Well efficiency improvements and field delineation expand economic locations Miss…
  9. HOWARD WEIL CONFERENCE – Chesapeake Energy Corp – slide 9
    NORTHERN MARCELLUS PERFORMANCE THEN & NOW FRANCLAIRE PAD Gross Gas Production, Mmcf/d 35,000 2014 Enhanced Completion 2011 Standard Completion 30,000 2011 2014 25,000 No. of Wells 2 3 20,000 Lateral Length 6,500 7,300 15,000…
  10. HOWARD WEIL CONFERENCE – Chesapeake Energy Corp – slide 10
    POWDER RIVER BASIN RECENT UPPER CRETACEOUS TESTS Shannon - 3/8/15 Currently flowing Teapot - 2/5/15 back Peak 675 Boe/d (95% Oil) Fort Union Sussex - 7/9/14 Peak 1,000 Boe/d Lance Sussex - 1/20/14 Peak 1,420 Boe/d…
  11. HOWARD WEIL CONFERENCE – Chesapeake Energy Corp – slide 11
    UTICA TAILORED CLUSTER SPACING Completion customized to reservoir CHK Operated and maturity CHK Leasehold Oil Window Wet Gas Window Dry Gas Window Evolution driven by rigorous core analysis and supported by extensive field…
  12. HOWARD WEIL CONFERENCE – Chesapeake Energy Corp – slide 12
    UTICA TAILORED FIELD DEVELOPMENT Leveraging 600 square miles of 3D CHK Operated seismic and 5,300 feet of core to CHK Leasehold Oil Window optimize development Wet Gas Window Dry Gas Window Redefining targeting to yield 15%…
  13. HOWARD WEIL CONFERENCE – Chesapeake Energy Corp – slide 13
    WHAT TO EXPECT Flexibility and value focus Outstanding liquidity Strength of our portfolio provides stability in a low price environment Driving capital efficiency throughout the organization Free cash flow neutral by year-end…
  14. HOWARD WEIL CONFERENCE – Chesapeake Energy Corp – slide 14
    CAPTURING MORE FOR LESS NORTHERN DIVISION Utica: 53% Improvement Marcellus North: 39% Improvement (1) (1) Powder River Basin: 46% Improvement (1) Note: Capex / EUR is defined as net drilling and completion (D&C) costs…
  15. HOWARD WEIL CONFERENCE – Chesapeake Energy Corp – slide 15
    CAPTURING MORE FOR LESS SOUTHERN DIVISION Haynesville: 67% Improvement Eagle Ford: 38% Improvement (1) (1) Mississippian Lime: 47% Improvement (1) Note: Capex / EUR is defined as net drilling and completion (D&C)…
  16. HOWARD WEIL CONFERENCE – Chesapeake Energy Corp – slide 16
    DRILLING AND SERVICES COMMITMENTS 150 PTL Commitment Fulfilled Drill Commitment Fulfilled 125 Drill Commitment Penalty Total Commitment ( in millions) 100 51 75 Rigs 71 50 Rigs 25 65 Rigs 51 Rigs 45 0 Q1 2015 Q2…

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