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Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc.

EOG Resources, Inc. · Jun 1, 2011 · 25 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. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 1
    NYSE Stock Symbol: EOG Investor Relations Contacts Common Dividend: 0.64 Maire A. Baldwin, Vice President - IR Basic Shares Outstanding: 268.4 Million (713) 651-6364, Fax (713) 651-6473 mbaldwineogresources.com Elizabeth M. Ivers,…
  2. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 2
    Exploit Expertise in Horizontal Shale Technology to Capture First/Early Mover Positions in Liquids/Crude Oil Resource Plays - Leader in Horizontal Technology - Bullish on Long-Term Oil Fundamentals - Higher Margin Business Maintain Low…
  3. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 3
    10 12 2 4 6 8 10000 12000 00 2000 4000 6000 8000 * Source: EIA Jan-1920 Jan-1923 Jan-1926 Jan-1929 Jan-1932 Jan-1935 Jan-1938 Jan-1941 Jan-1944 Jan-1947 Jan-1950 Jan-1953 Jan-1956…
  4. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 4
    First Mover in Almost All U.S. Unconventional Horizontal Oil Plays Success of Captured Horizontal Oil Inventory Has Exceeded Expectations - 1.8 Bnboe*, Net, All Organic 69% Crude Oil, 18% NGLs Biggest Oil Producer in North Dakota…
  5. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 5
    Natural Gas Massive Inventory of Captured Gas Assets in Low-Finding-Cost Plays Haynesville/Bossier 11 Tcf*, Net on 190,000 Net Acre Position 78% in Sweet Spot Marcellus 3.3 Tcf*, Net 210,000 Net Quality Acres Barnett Currently EOGs…
  6. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 6
    1999 2009* After Transition EOG Transitioning to Oil 11-Year Average 2012E** 2010* - 2011E** 25.6% 11.2% 15.3% 14.4% 14.0% 2.5% 12.8% 10.2% 10.5% 0.3% 1.6% EOG Peer EOG Peer EOG Peer EOG Peer EOG PeerGroup Group* EOG…
  7. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 7
    Capital Structure Active Drilling Program with Large Capex Requirements 2011 - 2012 to Avoid Lease Expiries - Plan to Execute with High ROR Program and Only Moderate Leverage - Potential to be Cash Flow Neutral in 2011 Still on…
  8. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 8
    Preliminary YOY FY 2010 1Q 2011 2011E* 2012E 2013+ Crude Oil and Condensate 35% 48% 55% 30% NGLs 29% 44% 34% 18% Further Total Company Liquids 33% 47% 49% 27% Growth North American Gas -2% 2% -6%** 3%** Other Gas 24% 9% -4% 2%…
  9. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 9
    79% 76% 74% 71% 71% 65% 59% 53% 47% 41% 35% 29% 29% 26% 24% 21% Preliminary 2006 2007 2008 2009 2010 1Q 2011 2011E** 2012E Liquids (Crude Oil and NGLs) Natural Gas * 2006 - 1Q 2011 based on North American…
  10. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 10
    45% 40% 35% 30% 25% 20% 15% 10% 5% 0% EOG** Co. 1 EOG** Co. 2 Co. 2 Co. 3 Peer Peer Average Co. 4 Co. Co. 5 5 Co. 6 Co. Co. 77 Co. 8 Co. Co. 99 Average Source: Goldman Sachs estimates April 25, 2011 *…
  11. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 11
    EOG Has Captured Largest Net Position in Biggest Lower-48 Crude Oil Play in Past 40 Years Captured Reserves* - Oil 690 MMBo San Antonio - NGLs 100 MMBbl - Gas 661 Bcf Total 900 MMBoe, NAR Cherry-Picked Optimum Oil Acreage Crude…
  12. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 12
    HFS Unit (3 Wells) Avg. IP 1,403 Bopd + 1,047 Mcfd Edwards (2 Wells) Avg. IP: 904 Bopd + 350 Mcfd Vickers 2H Sweet Unit (2 Wells) Hill Unit 2H IP: 743 Bopd + 444 Mcfd Avg. IP: 1,182 Bopd + 1,323 Mcfd IP: 1,233 Bopd + 685 Mcfd…
  13. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 13
    Predictable High-Return Play - Repeatable Well Results Across 120-Mile Lease Position - Opportunity to Invest 10Bn - 15Bn with 95% to 140% Direct ATROR* - Expect to Decrease Well Costs with Self-Sourced Fracs Confirmed 77% Oil, 88%…
  14. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 14
    100 Percent Successful Completion Rate to Date - 96 Net Wells Drilled in 2010 Ramping Up the Pace Current 21-Rig Drilling Program - Multi-Year Growth Inventory Captured Wells Performing Better Than Original Models Expected EUR/Well…
  15. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 15
    Biggest Oil Producer in North Dakota - 49.4 Mboed, Gross Production at YE 2010 Bear Den Pattern IPs 600,000 Total Net Acres Early, Premier Position Round Prairie 10-1819H 7-17H 1,882 Bopd - Primary Leasing Activity 2004 - 2007 1,458…
  16. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 16
    Increased Core Area to 185,000 Net Acres Strong Wells from New Completions Western Montague County Combo Core Area Bopd Mcfd 185,000 Net Acres - Rosa Unit 2H 468 + 779 - Shockley Unit 1H 416 + 272 Oil Estimated Captured Reserves*…
  17. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 17
    120,000 Net Acres Captured in Play - Completed 6 Horizontal Wells to Date Munson 2701H - 44,000 Acres Proven to Date University 43-1001H - Multiple Pay Targets Core Area Core Area Potential* Reserves 40 MMBoe, NAR - Early Irion…
  18. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 18
    Control 120,000 Total Net Acres in Play - Completed 17 Horizontal Wells to Date Prospective Eddy Lea Area - 49,000 Acres Proven to Date - Multiple Bone Spring Objectives Underlie Shale Elk Wallow 11 St Potential* Reserves 65…
  19. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 19
    Jersey 12-25H Fox Creek 3-35H Continuing to Exploit Hereford Ranch Field with Good Well Results NE CO - Current Production 4 MBopd, Net Current 3-Rig Drilling Program - Drilling Activity to Date Concentrated on 80,000 of 220,000…
  20. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 20
    138,000 Net Acre Position with Multiple Pay Zones Initial Target Turner Sandstone Horizontal - Plan Further Tests on Other Horizons Later in 2011 and 2012 8 Successful Horizontal Wells to Date 100% Success - Typical Well Crossbow 7-06H…
  21. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 21
    190,000 Net Acres Haynesville/Bossier Shale Play Area - Third Largest Holder of Sweet Spot Acreage - Strong Economics from Both Haynesville Sweet Spot and Bossier Shales TX LA Potential Reserves* 11 Tcf, NAR - Haynesville 5.6…
  22. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 22
    210,000 Net Acres in Pennsylvania Bradford - 50,000 Acres Bradford Area, 100% WI Area - 160,000 Acres Elk/Clearfield Area, 50% WI Elk/Clearfield Area Potential Reserves* 3.3 Tcf, NAR 9+ MMcfd Improvement in Well Completions…
  23. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 23
    Horn River 157,500 Net Acres Potential Reserves* 9 Tcf, Net Minimal Drilling in 2011 to Hold Acreage One of Western Canadian Producing Areas That Could Fort Nelson Supply Kitimat Kitimat LNG Export Facility Strategy is to…
  24. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 24
    EOG Reserves Within 5% of Independent Engineering Analysis Prepared by DeGolyer and MacNaughton 23 Straight Years Reviewed 77% of Proved Reserves in 2010 Conservative - Successful Efforts Accounting - Zero Goodwill - Credit Ratings…
  25. Bernstein Annual Strategic Decisions Conference – EOG Resources, Inc. – slide 25
    EOG Has Largest Proven U.S. Horizontal Drilling Oil Inventory in Entire Industry EOG Has Captured Low Cost First-Mover Advantage Key Differentiator Horizontal Oil Will Drive Strong 2011 - 2012+ Production Growth with High Margins EOGs…

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