Skip to main content 1Q 2012 Earnings Call – Marathon Oil Corp Investor Presentation | Shale Experts
Loading...
Pm

1Q 2012 Earnings Call – Marathon Oil Corp

Marathon Oil Corp · May 2, 2012 · 28 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. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 1
    First Quarter 2012 Earnings Conference Call and Web Cast May 2, 2012 Marathon Oil Corporation
  2. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 2
    1Q-12 Earnings (13)% 1Q 2012 4Q 2011 1Q 2011 Net Income* 417 MM 549 MM 455 MM Adjusted Net Income* 478 MM 552 MM 631 MM Net Income per Diluted Share* 0.59 0.78 0.64 Adj. Net Income per Diluted Share Share* 0.67 0.78 0.88…
  3. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 3
    Adjusted Net Income 1Q-12 vs. 4Q-11 Variance Analysis 1,000 103) 277 (26) 800 (27) (203) 600 552 (30) (78) MM 13 478 400 773 746 522 522 543 465 200 0 4Q 2011 U.S. E&P Int E&P OSM IG Libya Income Income Taxes…
  4. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 4
    Upstream LHC Sales Volumes Excluding Libya 1Q-12 actual vs. 2Q-12 estimate 1Q Actual Sales Volumes 2Q Estimated Sales Volumes 266 MBOD 260 - 280 MBOD Canada Canada 16% 18% Norway Norway 28% 34% U.K. U.S. U.S. 8% 34% 34%…
  5. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 5
    E&P Earnings 1Q-12 vs. 4Q-11 Variance Analysis 1,000 162 (29) (203) 800 141 (125) 600 558 (27) MM 477 400 832 699 629 558 504 200 0 4Q 2011 Volume Price Variance DD&A Libya Income Income Taxes Other 1Q 2012…
  6. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 6
    U.S. E&P Earnings 1Q-12 vs. 4Q-11 Variance Analysis 200 57 (30) (32) 150 129 (25) 10 109 MM 100 156 129 124 50 99 99 0 4Q 2011 Volume Variance Price Variance DD&A Other Income Taxes 1Q 2012 (Pre-tax) (Pre-tax)…
  7. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 7
    U.S. E&P Cost per BOE Trend 70 60 50 40 /BOE 30 20 10 0 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 Field level controllable cost DD&A Other Production & ad valorem taxes Exploration expense Marathon Oil…
  8. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 8
    Lower 48 Onshore Production Forecast Available for Sale 150 P90 12 125 P10 +12% 100 MBOED 75 50 25 0 3Q 2011A 4Q 2011A 1Q 2012A 2Q 2012E 3Q 2012E 4Q 2012E Percent 55 62 6 64 70 70 Li id Liquids Marathon…
  9. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 9
    International E&P Earnings 1Q-12 vs. 4Q-11 Variance Analysis 800 185 3 (2) (203) 600 91 (135) 429 MM 400 368 705 706 520 503 200 429 0 4Q 2011 Volume Price Variance DD&A Other Libya Income Income Taxes 1Q 2012…
  10. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 10
    International E&P Cost per BOE Trend 25 20 15 /BOE 10 5 0 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 Field level controllable cost DD&A Other Production & ad valorem taxes Exploration expense Marathon Oil…
  11. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 11
    E&P Segment 1Q-12 E&P Volumes, including Libya Production available for sale up 7% vs 4Q-11 Libya ramp-up, Eagle Ford, Bakken, and Norway new wells on-line Sales volumes up 4% vs 4Q-11 4Q 11 1Q Underlift in Libya, U.K. and…
  12. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 12
    E&P Segment E&P Production Available for Sale Volumes without Libya 400 371 359 374 370 375 340 343 328 317 300 MBOED D 200 100 0 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 Base…
  13. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 13
    Oil Sands Mining Earnings 1Q-12 vs. 4Q-11 Variance Analysis 80 63 (17) 60 ((3)) (20) 4 MM 41 40 8 6 47 20 43 37 29 23 23 0 4Q 2011 Price Variance Volume Operating DD&A Other Income Taxes 1Q 2012 (Pre-tax)…
  14. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 14
    1Q-12 Integrated Gas Results Segment income: 1Q-12 4 MM, 4Q-11 20 MM Decrease primarily due to lower LNG realizations Net N LNG sales l volumes l MTPD : 1Q-12 1Q 12 6,291 6 291 vs. 4Q-11 4Q 11 6,984 6 984 14 Cargoes in 1Q-12…
  15. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 15
    Total Company Cash Flow 1Q 2012 2,000 1 049 1,049 (76) 1,500 (1,017) MM 1,000 1466 208 (120) 493 (24) 513 500 493 537 492 449 449 0 12/31/11 Operating Working Cash Capital Dispositions Dividends Other 03/31/12…
  16. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 16
    1Q-12 Select Financial Data Net Debt-to-Cap Ratio & Cash + Cash Equivalents Net Debt-to-Cap Ratio Cash + Cash Equivalents 30% 6 4.7 4.6 et Debt-to-Cap % Cash + Cash Equivalents C 20% 20% 20% 4 Billions Ne 10%…
  17. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 17
    Appendix Marathon Oil Corporation
  18. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 18
    Upstream Volumes, Exploration Expense & Effective Tax Rate 2012 Actuals & Estimates (excluding Libya) 2012 1QA 2QE 3QE 4QE Year Est* U.S. E&P Net Sales Volumes*: Liquid Hydrocarbons (MBD) 90 93 - 97 Natural Gas (MMCFD) 344 295 - 305…
  19. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 19
    Reconciliation Net Income to Adjusted Net Income (MM) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2011 2011 2011 2011 2012 2012 2012 2012 Net Income 996 996 405 549 417 Exclude discontinued operations (541) (698) 0 0 0 Income from continuing operations…
  20. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 20
    Net Income (MM unless otherwise noted) 2011 2012 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q E&P Segment Income 668 601 330 558 477 Oil Sands Mining Segment Income 32 69 92 63 41 Integrated g Gas Segment g Income 60 43 55 20 4 Total Segment…
  21. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 21
    Select Balance Sheet / Cash Flow Data (B unless otherwise noted) 2011 2012 2Q 3Q 4Q 1Q 2Q 3Q 4Q As of quarter ended: Cash and cash equivalents 4.7 4.6 0.5 0.5 Total debt 5.0 5.0 4.8 4.8 Cash-adjusted total debt 0.3 0.4 4.3 4.3…
  22. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 22
    Capital, Investment & Exploration Spending Reconciliation MM 2012 1Q 2012 Forecast YTD Capital expenditures 4,602 1,095 Investments in equity method investees 1 0 & others Exploration costs other than 419 84 well costs…
  23. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 23
    E&P Supplemental Financial Data Operating Costs per BOE - 2012 Estimates 2012 U.S. E&P Field level controllable costs 8.50-9.50 DD&A* 23.50-25.00 Other** 9.50-11.00 Total Costs Costs** 41.50-45.50 41.50 45.50 International…
  24. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 24
    E&P Cost per BOE Trend 40 35 30 25 /BOE 20 15 10 5 0 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 Field level controllable cost DD&A Other Production & ad valorem taxes Exploration expense Marathon Oil…
  25. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 25
    1Q-12 E&P Expenses and Profitability 1Q 1Q-12 12 Income per BOE decreased 17% from 4Q-11, 4Q 11 13.69/BOE 13 69/BOE vs 16.47/BOE Decrease primarily due to increased earnings in higher tax jurisdictions, increased US activity…
  26. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 26
    E&P Realizations Average Realized Prices (excluding hedging) 1Q 2011 2Q 2011 3Q 2011 4Q 2011 1Q 2012 1Q VS 4Q U.S. Crude Oil & Condensate (/BBL) 88.20 101.96 90.67 98.13 97.28 (0.85) U.S. Natural Gas Liquids (/BBL) 57.88 59.80 60.54…
  27. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 27
    Estimated 2012 Production & Tax Rates by Jurisdiction Jurisdiction Approximate Production % Statutory Tax Rate U.S. 42 36%* Norway 21 78%** EG 30 25%** Angola 1 50% U.K. 6 62%** Total E&P 100 (exc Libya) Libya 93%**…
  28. 1Q 2012 Earnings Call – Marathon Oil Corp – slide 28
    Marathon Oil Corporation

From the store

Browse maps, data & reports in the Shale Experts store