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Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc.

EOG Resources, Inc. · Nov 30, 2011 · 27 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. Jefferies 2nd Annual Global Energy 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: 268.9 Million (713) 651-6364, Fax (713) 651-6473 mbaldwineogresources.com Elizabeth M. Ivers,…
  2. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 2
    Strong Oil/Liquids Growth Majority is Crude Oil and Condensate 2010 +35% 2011E* +51% 2012E** +30% High-Value Production Generates Strong Growth in - EBITDA/Share - Cash Flow/Share - Earnings/Share Eagle Ford Crude Oil Asset…
  3. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 3
    Exploit Expertise in Horizontal Shale Technology to Capture First/Early Mover Positions in Crude Oil/Liquids Resource Plays - Leader in Horizontal Technology - Bullish on Long-Term Oil Fundamentals - Higher Margin Business Maintain…
  4. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 4
    2 4 6 8 10 12 00 10000 12000 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…
  5. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 5
    First Mover in All U.S. Unconventional Horizontal Oil Plays Eagle Ford Biggest Oil Producer Premier 535,000 Net Acre Oil Window Bakken/Three Forks One of the Top Oil Producers in North Dakota 600,000 Net Acres Barnett Combo Biggest…
  6. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 6
    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 On Track to Sell 1.6 Bn of Natural Gas and Midstream…
  7. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 7
    2011E Capex - 6.8 to 7.0 Bn* Including Facilities and Midstream Gathering, Exploration and Processing and Other Development Facilities 9% 7% Exploration and Development 84% Exploration and Development 83% 80% Focused…
  8. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 8
    2012E Capex 90% Focused on High ROR Crude Oil or Liquids-Rich Gas - Remaining 10% Allocated to Dry Gas Drilling to Hold Acreage If WTI Averages 85+ Capex Will Be at Least at 2011 Levels - Total Liquids Growth 27% vs. 2011 If WTI…
  9. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 9
    YTD Preliminary 9 Months FY 2010 2011 2011E* 2012E 2013+ Crude Oil and Condensate 35% 51% 51% 30% NGLs 29% 40% 35% 18% Continued Total Company Liquids 33% 47% 47% 27% *** Double Digit Growth North American Gas** -2% -3% -7% Other…
  10. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 10
    Crude and Condensate Total Liquids (Mbd) (Mbd) 195 154 147 113 105.1 74.7 78.8 55.2 61.5 45.5 43.4 31.2 2007 2008 2009 2010 2011E* 2012E** 2007 2008 2009 2010 2011E* 2012E** * Based on mid-point of full-year…
  11. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 11
    40% 30% 20% 10% Co. 9 Co. 10 0% EOG* Co. 1 Co. 2 Co. 3 Co. 4 Peer Co. 5 Co. 6 Co. 7 Co. 8 Avg -10% Source: Barclays Research, October 2011. * Peers: APC, APA, CNQ, CVE, CHK, DVN, NFX, NBL, OXY and PXD.…
  12. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 12
    79% 76% 75% 71% 69% 71% 59% 53% 47% 41% 29% 31% 29% 24% 25% 21% Preliminary 2006 2007 2008 2009 2010 YTD 2011 2011E** 2012E*** Liquids (Crude Oil and NGLs) Natural Gas * 2006 9 Mos 2011 based on North American…
  13. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 13
    Oil Recent Wide Differential LLS to WTI New EOG Unloading Facility at St. James, LA In-Service April 2012 - Up to 100 MBopd EOG Capacity - Option to Bring in EOG Crude from Various Plays Bakken Eagle Ford Others - First Mover…
  14. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 14
    170% 140% 110% 80% 50% 20% Co. 11 Co. 12 -10% EOG Co. 1 Co. 2 Co. 3 Co. 4 Co. 5 Co. 6 Peer Co. 7 Co. 8 Co. 9 Co. 10 Avg -40% Source: Goldman Sachs estimates October 21, 2011, 109.50 WTI and 4.25 Henry Hub…
  15. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 15
    EBITDA Per Share Cash Flow Per Share 50% 50% 40% 40% 30% 30% 20% 20% 10% 10% 12 12 0% 0% 1 EOG 2 3 4 5 6 Peer 7 8 9 10 11 1 EOG 2 3 4 5 6 Peer 7 8 9 10 11 Avg Avg -10% -10% Source: Goldman Sachs estimates October…
  16. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 16
    EOG Has Captured the Biggest Lower-48 Net Crude Oil Discovery in Past 40 Years Captured Reserves* Oil 690 MMBo NGLs 100 MMBbl Gas 661 Bcf San Antonio Total 900 MMBoe, NAR Largest Oil Producer in the Eagle Ford 53 MBoepd, Net…
  17. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 17
    Well Quality is Improving - IP Rate of Some Recent Wells Approaching 3,000 Bopd Plus NGLs and Gas Early Positive Downspacing Results - Testing 7 Downspaced Pilot Patterns Well Costs Decreasing - Self-Sourced Fracs Will Be Big Cost…
  18. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 18
    2.0 1.8 *Based on Consistency of Reservoir Flow Rate and Liquid Content 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2 0.0 EOG Co. 1 Co. 2 Co. 3 Co. 4 Co. 5 Co. 6 Co. 7 Co. 8 Co. 9 Co. 10 Co. 11 Co. 12 Source: Bernstein Research…
  19. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 19
    One of the Top Oil Producers in North Dakota and Rocky Mountains Clarks Creek 3-0805H Three Forks 1,384 Bopd 600,000 Total Net Acres Early, Premier Position Canada - Primary Leasing Activity 2004 - 2007 Hardscrabble 2012 13-3526H…
  20. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 20
    195,000 Net Acres in Core Area Recent Strong Wells Montague and Cooke Counties Bopd + Mcfd (Rich Gas) Combo Core Area 195,000 Net Acres - Abbey, Paul, Wales, Welsh 400 - 635 264 - 492+ (6 Wells) - Farrell A and B Unit (4 Wells)…
  21. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 21
    131,400 Net Acres Captured in Play Core University 9 2802H Area - Completed 26 Horizontal Wells to Date Mayer 5002H - 59,000 Acres Proven to Date - Two Separate Pay Targets Middle and Upper IRIO Linthicum M 1H Core Area…
  22. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 22
    Control 106,000 Total Net Acres in Play EOG Acreage - Completed 19 Horizontal Wells to Date - 62,000 Acres Proven to Date Prospective Eddy Lea Area - Multiple Bone Spring Objectives Underlie Shale Potential* Reserves 65 MMBoe,…
  23. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 23
    Haynesville/Bossier Shale Play Area 175,000 Net Acres 78% in Sweet Spot Sweet Spot - Third Largest Holder of Sweet Spot Acreage TX LA Potential Reserves* 11 Tcf, NAR - Haynesville 5.6 Tcf - Bossier 5.4 Tcf Have Decreased…
  24. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 24
    210,000 Net Acres in Pennsylvania Bradford Area - 50,000 Acres Bradford Area, 100% WI - 160,000 Acres Elk/Clearfield Area, 50% WI Elk/Clearfield Area Potential Reserves* 3.3 Tcf, NAR 9+ MMcfd PHC 26H Improvement in Well…
  25. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 25
    Trinidad and Tobago Trinidad ATLANTIC OCEAN TRINIDAD Developing 350 Bcf Toucan Discovery 4(a) U(a) - Will Supply Portion of 2012 - 2015 Gas Contracts U(b) SECC VENEZUELA United Kingdom United Kingdom…
  26. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 26
    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…
  27. Jefferies 2nd Annual Global Energy Conference – EOG Resources, Inc. – slide 27
    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 Assets Will Drive Strong 2011 - 2012+ Production Growth with High…

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