Skip to main content YE14 Update and 2015 Outlook – Newfield Exploration Co. Investor Presentation | Shale Experts
Loading...
Pm

YE14 Update and 2015 Outlook – Newfield Exploration Co.

Newfield Exploration Co. · Feb 24, 2015 · 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. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 1
    NFX YE14 Update and 2015 Outlook February 24, 2015
  2. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 2
    Newfield Exploration a leading E&P company Core position in world class Anadarko Basin Large, foundational oil-rich resource base Demonstrated performance Financial strength and flexibility 3
  3. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 3
    2014 Company highlights Strong year-over-year discretionary cash flow, production and reserve growth1 Discretionary cash flow +28% to 1.2 bn 4Q14 NET PRODUCTION (Mmboe) Production +29% to 125 Mboe/d (57% liquids) Oil 5.40 Proved…
  4. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 4
    Demonstrated performance Pro forma production (Mboe/d)1 Pro forma discretionary cash flow (bn)1 125 1.2 96 85 1.0 0.6 2012 2013 2014 2012 2013 2014 Liquids Gas Pro forma proved reserves1 Anadarko Anadarko Anadarko 28% 7%…
  5. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 5
    YE 2014 Proved reserves Total proved reserves of 645 MMBOE Pre-tax PV-10 up 18% y-o-y to 8.8 billion Liquids proved reserves up 19% y-o-y to 58% 52% of proved reserves are proved developed 96% of total proved reserves are domestic…
  6. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 6
    Outperformed in each domestic focus area Focus 2013 2014 Original 2014 Final Delta % Change Y-o-Y Area Production Guidance Production Growth (MMBOE) (MMBOE) (MMBOE) (MMBOE) Anadarko 7.2 14.3 15.4 1.1 8% 114% Basin Uinta 8.2 8.6 9.4…
  7. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 7
    Summary of 2014 well results Avg. Avg. Avg. Avg. Well Type Wells Lateral Gross Gross Gross Length 30-Day Rate 60-Day Rate 90-Day Rate SCOOP Wet Gas SXL 9 7,500 1,712 BOEPD 1,684 BOEPD 1,598 BOEPD SCOOP Wet Gas XL 14 4,851 1,058…
  8. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 8
    Strategy deliver shareholder value through-cycle 2015 Priorities High-grade capital investments Allocate 70% of budget to the Anadarko Basin Balance capital spending and cash flow Drive cost savings and margin expansion Preserve…
  9. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 9
    Attractive investment plan today and tomorrow 2015 Capital budget Pro forma production (Mboe/d)2 +18% 2015 China over 2014 3% Uinta Other Liquids Gas +7% Q415 7% 8% 146 over Q414 125 Williston 96 12% 85 Anadarko 70% 2012…
  10. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 10
    Valuable derivatives portfolio (as of 2/20/2015) 2015 Oil derivatives Realized oil price sensitivity2 3-way NYMEX (/Bbl) 2015 2016 Structures Swaps 4% 13% 55 75 70 60 80 75 65 85 80 Swaps + Short Puts 83% 360mm1 (18.0…
  11. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 11
    Large, foundational oil-rich resource base YE 2014 Net unrisked Gross proved drilling identified Net reserves resource potential Domestic Areas acres (Mmboe) (Mmboe)1 locations1 Anadarko Basin Hz 295,000 181 1,829 5,446 Uinta Basin…
  12. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 12
    Focus Areas
  13. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 13
    Anadarko Basin world class resource Excellent petroleum system STACK Multiple stacked pays with 15+ identified productive 210,000 net acres horizons More than 100 Tcf of gas and 6 Bn Bbls of oil produced to date from the basin On…
  14. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 14
    Anadarko Basin excellent petroleum system Tonkawa Sand Wade Sand Largest and deepest onshore US basin Medrano Sand World class source rocks with TOC of 10 to 15% Marchand Sand 2,000 to 3,000 ft. of stacked resource reservoirs…
  15. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 15
    Anadarko Basin significant growth engine Production (Mboe/d) Proved reserves (Mmboe) Liquids Gas 181 61 42 116 20 35 7 5 14 2011 2012 2013 2014 2015E 2011 2012 2013 2014 NFX wells 4 26 41 67 94 drilled Anadarko…
  16. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 16
    SCOOP best-in-class operator 2015 vs. 2012 D&C Cost / lateral ft. and drilling days D&C / ft.1 (48%) 2,500 D&C / lateral ft. Days to depth Days to depth2 (34%) 100 2,153 2,000 1,847 80 1,721 1,500 60 56 1,118 50 50 1,000 40…
  17. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 17
    STACK rapidly advancing economics 2015 vs. 2012 D&C Cost / lateral ft. and drilling days D&C / ft.1 (47%) D&C / lateral ft. Days to depth Days to depth2 (41%) 2000 1,768 60 50 1500 1,259 1,122 40 37 33 942 1000 30 25 22 20…
  18. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 18
    STACK production delineation continues IP30 AVG John 1H-5X 781 BOEPD (84% Oil) 75% production Scheffler 1H-9X 1641 BOEPD (84% Oil) Currently Drilling delineated Industry Well Recent successes Kenneth 1H-30X 1041 BOEPD (83%…
  19. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 19
    Williston Basin proven operator SASKATCHEWAN Highlights MONTANA NORTH WILLIAMS Oil resource play in full development mode DAKOTA Demonstrated ability to drive down costs and Westberg maximize returns Stable oil production with…
  20. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 20
    Uinta Basin significant oil resource Central Basin Type Log Lower Black Shale Uinta Basin Proven petroleum system Upper Castle with 2,000 of stacked oil pays UTAH Peak Prolific source rocks 2,000 - Oil Saturated Sandstones,…
  21. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 21
    Appendix
  22. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 22
    Single well economics 55/60/65 oil SCOOP Wet Gas SCOOP Oil STACK Bakken Lateral length (ft.) 5,900 8,900 9,000 9,000 IP 30 (Boe/d)1 1,535 948 835 939 Gross EUR (Mboe)2 2,000 1,200 950 680 % Liquids 50% 70% 70% 82% Gross well costs…
  23. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 23
    2015e Production, cost and expense guidance Domestic China Total Production Oil (Mmbls) 20.1 21.4 5.0 25.1 26.4 NGLs (Mmbls) 7.7 8.2 -- 7.7 8.2 Natural Gas (Bcf) 115 122 -- 115 122 Total (Mmboe) 47.0 50.0 5.0 52.0 55.0 Expenses ( mm)1…
  24. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 24
    1Q15e Production, cost and expense guidance Domestic China Total Production Oil (Mmbls) 4.8 5.0 0.7 5.6 5.7 NGLs (Mmbls) 1.8 1.9 -- 1.8 1.9 Natural Gas (Bcf) 29 -- 29 Total (Mmboe) 11.4 11.8 0.7 12.2 12.5 Expenses ( mm)1 LOE2 71 12 84…
  25. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 25
    Reconciliation of key statistics as adjusted for asset sales Adjustments for Asset Sales We have presented certain growth figures net of assets sales. The following tables reflect the impact of asset sales on production and reserves…
  26. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 26
    Reconciliation of key statistics as adjusted for asset sales Proved Reserves (MMBOE) 2012 2013 2014 Crude Oil Crude Oil Total Oil and Total Oil and Total Oil Equivalents Condensate NGLs Natural Equivalents Condensate NGLs Natural…
  27. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 27
    Non-GAAP reconciliations Reconciliation of net cash provided by operating activities to discretionary cash flow net of asset sales: Year ended December 31, 2012 2013 2014 (in millions) Net cash provided by operating activities 1,147…
  28. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 28
    Non-GAAP reconciliations (continued) Pre-tax present value of reserves (PV-10) is a non-GAAP financial measure and generally differs from the standardized measure of discounted future net cash flows (the most directly comparable…
  29. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 29
    Oil hedging details as of 02/20/15 Volume/day Weighted-Average Price Swaps w/ Short Collars w/ Short Period Bbls Swaps Collars Puts1 Puts2 8,000 90.63 1Q 2015 38,500 72.03/90.08 2,000 75.00/90.00-104.00 9,000 90.01 2Q 2015…
  30. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 30
    Oil hedging details as of 02/20/15 Volume/day Weighted-Average Price Swaps w/ Short Collars w/ Short Period Bbls Swaps Collars Puts1 Puts2 33,000 73.48/89.97 1Q 2016 17,000 75.00/90.00-96.30 27,000 74.44/89.99 2Q 2016 19,000…
  31. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 31
    Oil hedging details as of 02/20/15 The following table details the expected impact to pre-tax income (in millions, except prices) from the settlement of our derivative contracts, outlined on the previous slide, at various NYMEX oil…
  32. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 32
    Gas hedging details as of 02/20/15 Volume/day Weighted-Average Price Swaps w/ Short Collars w/ Short Period MMBtus Swaps Collars Puts Puts 135,000 4.28 1Q 2015 105,000 3.93 - 4.74 135,000 4.28 2Q 2015 105,000 3.93 - 4.74…
  33. YE14 Update and 2015 Outlook – Newfield Exploration Co. – slide 33
    Gas hedging details as of 02/20/15 The following table details the expected impact to pre-tax income (in millions, except prices) from the settlement of our derivative contracts, outlined on the previous slide, at various NYMEX gas…

From the store

Browse maps, data & reports in the Shale Experts store