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Q2 2012 Earnings Call – EOG Resources, Inc.

EOG Resources, Inc. · Aug 3, 2012 · 26 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. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 1
    NYSE Stock Symbol: EOG Investor Relations Contacts Common Dividend: 0.68 Maire A. Baldwin, Vice President - IR Basic Shares Outstanding: 270.0 Million (713) 651-6364, Fax (713) 651-6473 mbaldwineogresources.com Elizabeth M. Ivers,…
  2. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 2
    Increased 2012E* Total Company Liquids YOY Growth Target to 35% (2nd Increase in 2012) - Crude Oil and Condensate 37% - NGLs 31% Realizing Premium Crude Oil Prices - St. James Rail Terminal In-Service April 2012 Bakken Deliveries -…
  3. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 3
    Multi-Year Drilling Inventory of U.S. Centric Onshore Crude Oil Prospects - Will Generate High Annual Oil Production Growth Rates Best in Large-Cap Class Eagle Ford Crude Oil Asset 1.6 BnBoe*, Net to EOG - Best Asset in North…
  4. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 4
    Clearbrook, MN Crude-by-Rail Stanley, ND - EOG Has 4 Years Experience - Competitive with Existing and Announced 83 Pipe Expansions EOG Unloading Facility at St. James, LA - Placed In-Service Mid-April - Up to 100 MBopd EOG Capacity in…
  5. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 5
    North American Oil* 2012 August 1 December 31 22% Hedged at 106.69 2013 January 1 June 30 16,000 Bopd at 98.12 North American Natural Gas* 2012 45% Hedged 525,000 MMBtud at 5.44 2013 150,000 MMBtud Hedged at 4.79 2H 2012…
  6. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 6
    Strong Organic Crude Oil Production Growth 2010 +35% 2011 +52% 2012E* +37% High-Value Production Generates Strong Growth in - Earnings Per Share - Adjusted EBITDAX - Discretionary Cash Flow Maintain Net Debt-to-Total Cap…
  7. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 7
    12000 12 U.S. Crude Oil Data (MMBd) 10 10000 2011 YTD 2012 Expect 2 MMBd Production 5.7 (40%) 6.2 (42%) Increase Due to Imports 8.9 (60%) 8.6 (58%) Horizontal Oil Success 8 8000 6 6000 YTD 2012 6,300 6,288 6,265…
  8. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 8
    1,200,000 1,200 1,000 1,000,000 Bakken and Eagle Ford 85% of Current Horizontal Crude Oil Production* 800 800,000 Eagle Ford MBod 600 600,000 Bakken 400 400,000 200 200,000 -0 Jan Jul Jan Jul Jan Jul…
  9. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 9
    125 100 EOG is Industry Leader by 2:1 Ratio 75 50 25 0 EOG Co. 1 Co. 2 Co. 3 Co. 4 Co. 5 Co. 6 Co. 7 Co. 8 Source: IHS Data as of February 2012. Select onshore Lower 48 formations with growing crude oil production.…
  10. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 10
    Improve Recovery Factor of Oil-in-Place in Existing Plays - Testing Denser Well Spacing Secondary Recovery Methods Continue to Explore for New Hz Oil/Liquids Prospects Onshore North America - Leverage Expertise in Hz Shales Identify…
  11. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 11
    Crude and Condensate Total Liquids (Mbd) (Mbd) 211 155 156 113 105 75 79 62 55 46 43 31 2007 2008 2009 2010 2011 2012E* 2007 2008 2009 2010 2011 2012E* * Based on mid-point of full-year 2012 production…
  12. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 12
    First Mover in U.S. Large Unconventional Horizontal Oil Plays Big Four Eagle Ford Biggest Oil Producer Premier 574,000 Net Acre Oil Window Bakken/Three Forks Largest North Dakota Bakken Oil Producer Wolfcamp and Leonard Shale Strong…
  13. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 13
    2012E Capex - 7.4 to 7.6 Bn* Including Facilities and Midstream Gathering, Exploration and Processing and Other Development Facilities 8% 9% Exploration and Development 83% 90% Focused on High ROR Crude Oil or Liquids-Rich…
  14. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 14
    2010 2011 1H 2012 2012E* 2013+ Crude Oil and Condensate 35% 52% 51% 37% Continued NGLs 29% 39% 43% 31% Double-Digit Total Company Liquids 33% 48% 49% 35% Growth North American Gas** -2% -7% -8% -10% Other Gas*** 24% --% 7% 5%…
  15. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 15
    86% 84% 79% 76% 71% 72% NGLs 59% 53% 47% Oil 41% 29% 28% 24% 21% 14% 16% 7% Hedged 2006 2007 2008 2009 2010 2011 1H 2012 2012E** Liquids (Crude Oil and NGLs) Natural Gas * 2006 - 2011 based on North American…
  16. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 16
    110% 90% EOG +104% Peer Avg +17% 70% 50% 30% 10% Co. 11 Co. 12 EOG Co. 1 Co. 2 Co. 3 Co. 4 Co. 5 Peer Co. 6 Co. 7 Co. 8 Co. 9 Co. 10 -10% Avg -30% Source: Goldman Sachs estimates July 23, 2012, 105.70 WTI…
  17. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 17
    40% EOG +35% 30% Peer Avg +12% 20% 10% Co. 10 Co. 11 Co. 12 0% EOG Co. 1 Co. 2 Co. 3 Co. 4 Co. 5 Peer Co. 6 Co. 7 Co. 8 Co. 9 Avg -10% Source: Goldman Sachs estimates July 23, 2012, 105.70 WTI and 2.51 Henry…
  18. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 18
    EOG Has Captured the Biggest U.S. Crude Oil Discovery Net to One Company in the Past 40 Years Estimated Potential Reserves* Oil 1,136 MMBo San Antonio NGLs 256 MMBbl Gas 1,248 Bcf Total 1,600 MMBoe, Net to EOG Largest Oil…
  19. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 19
    Well Quality is Improving - IP Rate of Some Recent Wells Exceeding 4,000 Bopd Plus NGLs and Gas - Very Strong 30-Day Average Rates - Average Estimated Per Well Reserves for Entire Crude Oil Acreage 450 MBoe, NAR Downspacing…
  20. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 20
    1,200 1,000 800 600 400 200 0 Gonzales Wilson LaSalle Industry EOG Industry EOG Industry EOG Gonzales County Wilson County LaSalle County * 30-Day IP Rates Source: Deutsche Bank Securities Inc., May 2012…
  21. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 21
    Canada Biggest Bakken Oil Producer in North Dakota Stateline/ Stanley, ND - 56.4 MBoed Gross Production at YE 2011 Diamond Point Area - 7 to 10 Year Drilling Inventory Core Area 2012 Areas of Activity Water Injection 7-Rig…
  22. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 22
    240,000 Total Net Acres - Plan to Drill 104 Net Wells in 2012 - Generating 35% - 45% Direct ATROR* Wolfcamp Shale NGLs 30% Oil 42% Core Area Potential 430 MBoe/Well, Gross (320 MBoe/Well, NAR) with 5.3MM CWC Target - Drilled 94,…
  23. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 23
    EOG is the Largest Oil Producer in the Barnett 215,000 Net Acres in Core Area - Continue Drilling Step-Out Wells to Expand Core Acreage Combo Core Area 215,000 Net Acres Continues to be Significant Liquids Growth Contributor in…
  24. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 24
    Trinidad and Tobago Trinidad ATLANTIC OCEAN TRINIDAD 4(a) Expect Essentially Flat YOY Production in 2012 vs. 2011 U(b) U(a) SECC VENEZUELA United Kingdom United Kingdom NORTH SEA East Irish Sea…
  25. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 25
    EOG Reserves Within 5% of Independent Engineering Analysis Prepared by DeGolyer and MacNaughton - 24 Straight Years - Reviewed 85% of Proved Reserves for 2011 Conservative - Successful Efforts Accounting - Zero Goodwill - Credit Ratings…
  26. Q2 2012 Earnings Call – EOG Resources, Inc. – slide 26
    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 2012+ Production Growth with High Margins -…

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