Skip to main content 4Q 2011 EARNINGS CALL – Marathon Oil Corp Investor Presentation | Shale Experts
Loading...
Database
Slide Database

4Q 2011 EARNINGS CALL – Marathon Oil Corp

Marathon Oil Corp · Feb 1, 2012 · 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. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 1
    Fourth Quarter 2011 Earnings Conference Call and Web Cast February 1, 2012 Marathon Oil Corporation
  2. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 2
    4Q-11 Earnings 31% 4Q 2011 3Q 2011 4Q 2010 Net Income from Continuingg Ops. p 549 MM 405 MM 424 MM Adjusted Income from Continuing Ops. 552 MM 421 MM 494 MM Net Income from Continuing Ops. per Diluted Share 0.78 0.57 0.60 Adj.…
  3. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 3
    Adjusted Income From Continuing Operations 4Q-11 vs. 3Q-11 Variance Analysis 700 103) 600 202 (33) 552 ons 500 46 (42) Millio 421 (42) 400 300 200 100 0 3Q 2011 E&P OSM Int Gas Income Taxes Other 4Q 2011…
  4. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 4
    E&P Earnings 4Q-11 vs. 3Q-11 Variance Analysis 800 600 182 558 91 ( ) (33) (23) 11 400 Millions 330 200 0 3Q 2011 Volume V l DD&A EExploration l i Other O h I Income Taxes T 4Q 2011 Variance (Pre-tax)…
  5. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 5
    E&P 4Q-11 Realizations Average realizations down 0.72/BOE Liquid hydrocarbon average realizations down 0.78/BBL Natural gas average realizations up 0.19/MCF MRO Realized Prices 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011…
  6. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 6
    E&P Segment 4Q-11 E&P Production Volumes Sales volumes up 5% vs 3Q-11 Underlifted in Norway, U.K. and Libya and overlifted in Equatorial Guinea during 4Q Cumulative underlift at year-end 2011 4 4 MMBOE Production available for…
  7. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 7
    E&P Segment E&P Production Available for Sale Volumes without Libya 400 359 374 370 375 340 343 328 317 300 MBOED D 200 100 0 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011 3Q 2011 4Q 2011 Base Growth Gulf of…
  8. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 8
    Lower 48 Onshore Production Forecast Available for Sale 150 125 P90 P10 100 MBOED D 75 50 25 0 3Q 2011 4Q 2011 1Q 2012 2Q 2012 3Q 2012 4Q 2012 Marathon Oil Corporation 9
  9. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 9
    E&P Cost per BOE Trend 40 35 30 25 20 OE per BO 1 15 10 5 0 1Q 2011 2Q 2011 3Q 2011 4Q 2011 Field level controllable cost DD&A Other Production & ad valorem taxes Exploration expense Marathon Oil Corporation 10
  10. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 10
    4Q-11 E&P Expenses and Profitability 4Q-11 Income per BOE increased 60% from 3Q-11, 16.47/BOE vs 10.27/BOE Increase primarily due to lower income taxes, DD&A and field level controllable costs per BOE partially offset by lower…
  11. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 11
    Oil Sands Mining Earnings 4Q-11 vs. 3Q-11 Variance Analysis 120 20 (36) 100 92 7 (28) 80 Millions 13 63 60 (5) 92 40 76 76 55 63 50 20 0 3Q 2011 Price Variance Volume Operating Feed stock & Other Tax 4Q 2011…
  12. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 12
    4Q-11 Integrated Gas Results Segment income: 4Q-11 20 MM, 3Q-11 55 MM Decrease primarily due to lower LNG sales prices, offset by an 8mm pre-tax gain on sale of the Alaska LNG plant Net LNG sales volumes MTPD : 4Q-11 6,743 vs. 3Q-11…
  13. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 13
    Reserve Replacement Estimated Net Proved Reserves E&P OSM TOTAL C t Category Liquids Li id Natural N t l TTotal t l SSynthetic th ti ( (mmboe) b ) % Proved P d (mmbbl) Gas (mmboe) Crude Oil Developed (bcf) (mmbbl) of Total…
  14. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 14
    15 493 12/31/11 Cash Balance 126 Other (105) Dividen nds Total Company Preliminary Cash Flow (4,470) Acquisiitions Marathon Oil Corporation 133 Dispos itions (858) es Cash C apital…
  15. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 15
    16 493 12/31/11 Cas sh Balance 3,513 (4,470) s Acquisitions Discontinued Operations 208 (1,622) Distribution to MPC Total Company Preliminary Cash Flow Other (300) ((2,877) ) Debt - net , Marathon…
  16. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 16
    4Q-11 Select Financial Data 4Q-11 Net debt-to-total cap ratio 20% Quarter end cash and cash equivalents: 0.5B 4Q-11 Effective tax rate: 55% Full year 2012 effective tax rate, including disc. operations estimated at 55-60% Dividend…
  17. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 17
    2012 Priorities Deliver 5% growth in Upstream production available for sale over 2011, excluding Libya Spend within the announced capital and exploration expenditure budget of 4.8 billion, excluding acquisitions Upstream reserve…
  18. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 18
    Upstream Volumes & Exploration Expense 2011 2011 1Q 2Q 3Q 4Q 2011 Domestic E&P Net Sales Volumes: Liquid Hydrocarbons (MBD) 78 72 69 83 75 Natural Gas (MMCFD) 368 315 296 325 326 Domestic Total (MBOED) 139 125 118 137 129 International…
  19. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 19
    Upstream Volumes & Exploration Expense 2012 Estimates 2012 1QE 2QE 3QE 4QE Year Est* Domestic E&P Net Sales Volumes*: Liquid Hydrocarbons (MBD) 83 85 Natural Gas (MMCFD) 310 320 Domestic Total (MBOED) 135 138 International E&P Net Sales…
  20. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 20
    E&P Supplemental Financial Data Operating Costs per BOE - 2012 Estimates 2012 U.S. E&P Field level controllable costs 7.50-8.50 DD&A* 25.00-27.50 Other** 9.50-11.50 Total Costs Costs** 42.00-47.50 42.00 47.50 International…
  21. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 21
    Estimated 2012 Production & Tax Rates by Jurisdiction Approximate Effective Tax Statutory Tax Jurisdiction Production % Rate Rate US 38 30% - 40% 35% Norway 19 68% - 78%* 78% EG 27 23% - 33%* 25% Angola 1 45% - 55% 50% UK 5…
  22. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 22
    Appendix Marathon Oil Corporation
  23. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 23
    Reconciliation Income to Adjusted Income (MM) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2010 2010 2010 2010 2011 2011 2011 2011 Net Income 457 709 696 706 996 996 405 549 Exclude discontinued operations 160 (335) (229) (282) (541) (698) 0 0 Income from…
  24. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 24
    Net Income (MM unless otherwise noted) 2010 2011 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q E&P Segment Income 502 432 510 497 668 601 330 558 Oil Sands Mining Segment Income (Loss) (17) (60) 18 9 32 69 92 63 Integrated Gas Segment Income 44 24 41 33…
  25. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 25
    Select Balance Sheet / Cash Flow Data Preliminary (B unless otherwise noted) 2010 2011 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q As of quarter ended: Cash and cash equivalents 2.7 2.1 1.6 4.0 5.7 4.7 4.6 0.5 Total debt 8.5 7.9 7.9 7.9 8.3 5.0 5.0…
  26. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 26
    Capital, Investment & Exploration Spending Reconciliation MM 2011 2011 Budget Preliminary Capital expenditures 3,473 3,399* Investments in equity method investees 0 1 & others Exploration costs other than 420 288 well…
  27. 4Q 2011 EARNINGS CALL – Marathon Oil Corp – slide 27
    Marathon Oil Corporation

From the store

Browse maps, data & reports in the Shale Experts store