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Howard Weil Energy Conference – Freeport-Mcmoran Inc.

Freeport-Mcmoran Inc. · Mar 25, 2014 · 33 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 Energy Conference – Freeport-Mcmoran Inc. – slide 1
    Howard Weil Energy Conference March 2014
  2. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 2
    Brent Historical Prices / Forward Curves Worldwide Oil Demand 35,000 WW Oil Demand 34,500 Brent Price 34,000 33,500 Demand in mmbbls 33,000 /bbl 32,500 32,000 31,500 31,000 30,500 30,000 Source:…
  3. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 3
    Oil & Gas Portfolio Chevron Chariot FM O&G Morocco Mazagan Permit Area Kosmos, BP Kosmos, BP Madden Agadir Chevron Kosmos, BP 133 BCFE total resource potential Cairn Genel California 107 BCFE proved reserves Cairn, Genel…
  4. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 4
    Year End 2013 3P Reserves 1000 861 750 213 MMBOE 500 184 250 464 0 2013 Proved Probable Possible Note: The 3P oil and gas reserves presented were determined using the methods prescribed by the U.S. Securities and…
  5. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 5
    2013 3P Reserves 861 MMBOE as of 12/31/13 By Commodity By Region 6:1 Ratio Haynesville/ Other 7% Oil GOM 76% 43% California Gas 41% Eagle 20% Ford 9% 4% NGLs Note: Please refer to note on slide 5. 6
  6. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 6
    2013 Year in Review Focused on Execution Strong Operating Performance - 40% Increase in pro forma production volumes compared to prior year - 125% Increase in pro forma cash flow compared to prior year Advanced Important Projects…
  7. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 7
    A Strong & Focused Organization Key Strengths Strong Management of the Base Production 2013 MBOE/D 2013 Cash Operating Margins (1) - Offshore GOM 72 (2) 70 - California 39 62 Eagle Ford 46 67 Effective Capital Management -…
  8. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 8
    Operational Plan Oil & Gas Cash Net Production Operating Margin(1)(2) 450 2013 Results 7,200 400 Significantly 6,400 350 Exceeded Plan 5,600 300 4,800 MBOE/D 250 4,000 MM 200 3,200 150 4,400 4,500 4,700 2,400 4,000…
  9. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 9
    Base Oil Producing Assets California Gulf of Mexico Eagle Ford Texas Louisiana WILSON ATASCOSA KARNES San Joaquin Valley Pt Pedernales Arroyo Grande Los 72,800 BOE/D Angeles Basin 4Q 2013 Production Pt Arguello…
  10. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 10
    Per BOE Cash Operating Margin Strength by Area 4Q 2013 California Deepwater GOM Eagle Ford Cash Operating Cash Operating Cash Operating Margin Margin Margin 54 75 64 Cash Production Costs 35 Cash Production Costs Cash…
  11. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 11
    Cash Operating Margin Leader Quarter Ending December 31, 2013 70.00 /BOE 60.00 50.00 40.00 30.00 20.00 10.00 0.00 FM O&G Note: Sources: public filings, Barclays. Companies referenced in this chart: Apache, Anadarko,…
  12. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 12
    Dynamic Production Growth Operating Development Exploration 350 300 Keathley Canyon Mississippi Pliocene-Miocene 250 Inboard Lower Canyon Area GreenTertiary/Cretaceous MBOE/D Inboard Lower Canyon Area Keathley Canyon…
  13. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 13
    Exploration/Development Growth Areas Louisiana Inboard Lower Tertiary/Cretaceous 1 Viosca 5 Knoll 2 Morocco Mississippi Canyon Mississippi Canyon Area Green Canyon Area 3 Atwater Valley Morocco Garden Banks Green…
  14. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 14
    Conceptual Model Inboard Lower Tertiary/Cretaceous Recognized as Industry Leader in This New Exploration Frontier Drilling activities to date have successfully confirmed geologic model and have indicated the potential for a major…
  15. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 15
    Inboard Lower Tertiary/ Cretaceous 1 Texas Louisiana Highlander Lineham Creek England Davy Jones Blackbeard Area Exploration Development Assets Approximately 15 identified exploration and development projects Spud dates…
  16. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 16
    Highlander Discovery Cretaceous Tuscaloosa Highlander Discovery FM O&G Jeanerette Minerals 1 Proposed Location Cretaceous Tuscaloosa Trend Cumulative Production 3.1 TCF, 121 mmbc Tuscaloosa Trend Gross Pay Highlander…
  17. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 17
    Highlander Discovery Cretaceous Tuscaloosa Highlander Discovery FM O&G Judge Digby Field Type Log Jeanerette Minerals 1 3.0 TCF Gross Resource Potential Tusc 1 Tusc 2 Tusc 3 Proposed Location Cretaceous Tuscaloosa…
  18. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 18
    Deepwater Gulf of Mexico Louisiana Texas Ram Powell Marlin Viosca Knoll Horn Mountain Mississippi Canyon Green Canyon Atwater Valley East Breaks Garden Banks Holstein Diana Hoover Alaminos Canyon Keathley Canyon…
  19. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 19
    Deepwater Gulf of Mexico Exploration & Development Net Installed Oil Net Resource Production Capacity Net Leasehold Production Area Potential Capacity Utilization Acreage (MMBOE) (BOE/D) Mississippi Canyon 68,000 286 Horn…
  20. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 20
    2014 Central GOM Lease Sale Area Blocks Net Acreage Facility Shelf 4 14,224 Mississippi Canyon 9 51,840 Horn Mountain Viosca Knoll 2 11,520 Marlin Green Canyon 2 11,520 Holstein Atwater Valley 3 17,280 Total 20 106,384…
  21. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 21
    Mississippi Canyon Area 2 VK0868 VK0869 VK0870 VK0871 VK0872 VK0873 Marlin 19 identified exploration and Ram Powell development projects targeting VK0912 VK0913 VK0914 VK0915 Dorado VK0916 VK0916 8 stacked, high quality…
  22. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 22
    Mississippi Canyon King M63 King Field Composite Type Log 80 MMBOE Net Resource Potential Prop M63 1 NW Fault Block A Prop 3 Prop M63 1ST1 Prop 2 Prop D3ST M63 Sand Attic Prop D9 D3 M63 Sand Producer A 23
  23. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 23
    Mississippi Canyon Horn Mountain Deep Horn Mountain Composite Type Log 47 MMBOE Net Resource Potential Deeper pool test below proven J&M Sand field pays targeting the M56 Sand which has been found productive in several nearby…
  24. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 24
    Green Canyon Area 3 Holstein Tungsten Deep 599 598 600 601 602 603 14 identified exploration and 25 65 MMBOE development projects targeting MMBOE Holstein highly productive Miocene and 642 643 94644 645 646 647 MMBOE 568…
  25. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 25
    Green Canyon Holstein Deep Development Miocene Type Log 141.5 MMBOE Net Resource Potential GC 643 OCS-G 16772 1 & 1ST2 Oil Proposed Wells 26
  26. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 26
    Keathley Canyon Area 4 Pliocene Miocene 1 identified development East Breaks Garden Banks project and 4 identified exploration projects targeting highly productive Pliocene and Diana Miocene sands Hoover Keathley Canyon Lucius,…
  27. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 27
    Lucius Spar Installation 300+ MMBOE gross resource World-class reservoir quality and deliverability First oil in second-half 2014 28
  28. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 28
    Keathley Canyon Lucius Development 82 MMBOE Net Resource Potential Pliocene Lucius 1 Lucius 3 Lucius 6 Lucius 2 Lucius 4 Lucius 5 919 Miocene Completion Miocene Oil Gas Planned Producer 29
  29. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 29
    Morocco 5 Miocene and Cretaceous Exploration Approximately 8 identified exploration projects Spud dates starting January 2015 Net resource potential of 1.7 Billion BOE for the first 3 prospects (Toubkal, Jbel Musa and…
  30. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 30
    Freeport-McMoRan Oil & Gas Today High Value Production With Superior Margins + High Impact Development Projects Directed Around Producing Assets + Emerging Exploration From Inboard Lower Tertiary/Cretaceous, International and…
  31. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 31
    Addendum 32
  32. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 32
    Reconciliation of Cash Operating Margin (Non-GAAP) to Gross Profit (GAAP) The following table reconciles cash operating margin, a non-GAAP measure, to gross profit (GAAP) for the seven months ended December 31, 2013. Management believes…
  33. Howard Weil Energy Conference – Freeport-Mcmoran Inc. – slide 33
    Reconciliation of Cash Operating Margin (Non-GAAP) to Gross Profit (GAAP) The following table reconciles cash operating margin, a non-GAAP measure, to gross profit (GAAP) for the three months ended December 31, 2013. Management believes…

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