Exploration Susan Cunningham Senior Vice President
Exploration and New Ventures Driving value creation and growth Industry Leading Conventional and Unconventional Geoscience and Engineering Performance Contributing to Core Area Growth Niobrara, Deepwater GOM, Eastern…
Exploration Impact Past success delivering new sources of production BBoe Cumulative Resources MBoe/d Near-term Production from 3 Discovered 90 Exploration Discoveries 2 60 1 30 0 0 2007 2008 2009 2010 2011 2012 2011…
Global Prospect Inventory Underpinning long-term growth Net Risked Resources* (BBoe) Exploration Inventory of 4 3.7 BBoe Net Risked Resources 3 Next Two Years of Drilling to Test 1.4 BBoe Net Risked Resources 2 7 BBoe gross…
Exploration Accomplishments in 2012 Continued strong performance building inventory Offshore Core Areas Big Bend and Tanin discoveries, Leviathan and Gunflint appraisals Successful participation in GOM lease sale Unconventional…
Existing Core Area Exploration Building on success Industry Leading Approach Integrating world-class data collection, technologies and engineering Deepwater Gulf of Mexico Multiple year prospectivity uncovering new plays with…
Exploration Catalysts Frontier plays represent substantial worldwide resources N.E. Nevada 350 M Gross Acres 1.3 BBoe Gross Resources Sierra Leone NBL Operated 100% WI 1.4 MM Gross Acres NBL 30% WI Eastern Med (Oil) Cyprus and…
Falkland Islands Frontier basin with 10 MM acres of running room Numerous Oil Prospects Argentina and Leads in Multiple Plays West Falkland Top 10 Cretaceous targets contain 7 BBbl gross unrisked potential East Falkland…
Scotia Well Results Identified reservoir and hydrocarbon system Reservoir Interval Scotia Well Source Interval Reservoir Encountered 40 ft. net pay Hydrocarbon System C1 C5 encountered in target sands Source rocks…
Falkland Islands Exploration Plan Includes testing additional exploration prospects 2012 2013 2014 2015 2016 2017 2018 2019 2020 3D Seismic Exploration Drilling Estimated 260 MM Net Investment through 2014 Development…
Elko County, N.E. Nevada Next growth possibility in U.S. Tight Oil Play with Core Wilson Project Area Scale 350,000 Net Acres Located in Elko County, N.E. Nevada Great Basin Phased Pilot Test Program to Determine Viability 5…
Elko County, N.E. Nevada Exploration Plan Success case 2012 2013 2014 2015 2016 2017 2018 2019 2020 3D Seismic Exploration Drilling Gross 130 MM Exploration Investment over Four Years Land, seismic, first 8 wells Development…
Nicaragua Location Map Carbonate and clastic plays 1.8 Million Acres in Two Lease Blocks 100% working interest Multiple Oil Prospects and Leads Identified on 3D Seismic 3,050 sq. mi. 1st Exploration Well Isabel 100% WI to…
State-of-the-Art 3D Seismic gas cloud positive indicator of hydrocarbons Gas Chimney Paraiso 15
Nicaragua Exploration Plan Includes testing additional exploration prospects 2012 2013 2014 2015 2016 2017 2018 2019 2020 Exploration Drilling Appraisal Drilling Estimated 90 335 MM Net Investment over Three Years Development…
Levant Basin Mesozoic Oil Play A play with step-change potential Play to be Initially Tested Beneath Oil Prospects and Leads the Leviathan Gas Field Success Would be a Play Opener with Running Room Expected to Spud Late 2013*…
Mesozoic Oil Exploration Plan Includes testing additional exploration prospects 2012 2013 2014 2015 2016 2017 2018 2019 2020 Exploration Drilling Appraisal Drilling With success multiple opportunities for Mesozoic discoveries…
Sierra Leone New West Africa entry Signed Contract September 21st 1.4 MM Acres Working Interest 30% Noble Energy Guinea 55% Chevron (Operator) 15% ODYE SL-08B 10% GoSL (Carried) 30% WI Sierra Leone Water Depth Range 20…
Sierra Leone Margin Primary play type upper Cretaceous slope fans Play Type Conjugate Sierra Leone Margin to French Guiana Fr. Guiana Play proven in Zaedyus discovery Shelf and Deepwater Play Types Source: Scotese…
Global Exploration Drilling Q4 2012 2014 Quickly testing multiple new plays Gross Unrisked Gross Unrisked P75 - P25 Mean Geologic Prospect 2013 2014 Resources Resources Chance of Area (Current Working Interest) Q4 Q1 Q2 Q3 Q4 Q1 Q2…
Exploration Program Driving Growth Building core areas Past Success is Delivering New Sources of Production Discovered 2.8 BBoe net resources since 2007 25% of production in 2014 from offshore exploration discoveries in the last 5…