a new class of E&P INVESTMENT Citis Global Energy Conference - Boston Matt Fox, EVP Exploration and Production May 15, 2013
ConocoPhillips: A New Class of E&P Investment We offer the marketplace a new class of E&P investment. Our goal is to consistently deliver strong, predictable returns to shareholders. 3
ConocoPhillips: Unmatched as an Independent E&P Today Production: 1,485-1,520 MBOED1 (2013e) Largest independent E&P Liquids company LNG + International Gas North American Gas Diverse asset base with scope and scale Multiple…
What Will We Deliver Relentless focus on safety and execution Compelling dividend 3 5% production growth rate 3 5% margin growth rate Ongoing priority to improve financial returns Production and margin reflect compound…
A Compelling Dividend is Key to Our Value Proposition Dividend Yield1 Highest priority use of cash flow Enhances capital discipline Predictable portion of shareholder returns Differential compared to range of peers Target…
Commitment to Capital Discipline and Growth * Reflects production from 2012-2013 closed and announced dispositions. 8
Our Commitment to Margin Improvement Five significant areas ramping up between 2012-2017 Incremental growth comes from high-margin investments Lower-risk geographies and geologies; diversified plays Oil Sands Europe Lower 48…
Margin Improvement from Strong Growth and Mix Shift Investment strategy drives strong organic growth Visible growth by end of 2013 High-margin growth creates 6 B of incremental cash flow 40-45 per BOE average cash margin1 Liquids…
High-Quality Legacy Base Production and Capability Focused on systematic Operations Excellence programs to mitigate risk, improve production efficiency and preserve value: Asset and operating integrity Planning and scheduling…
High-Margin Worldwide Development Program Inventory Development programs will account for 600 MBOED by 2017 60% of production growth from high-impact Lower 48 programs Development Program Growth (2012-2017) MBOED Alaska Europe…
Eagle Ford: Nearing Full Field Development Phase Eagle Ford 5-year investment: 8 B GUADALUPE BEXAR GONZALES Incremental F&D: 20/BOE 227 M net acres; 1.8 BBOE resource WILSON DE WITT Highest-quality position in sweet spot,…
Unconventional Reservoirs: Technology Leadership Proven ability to identify, secure and develop highest-value unconventional acreage Sweet spot identification Development plan optimization Efficient drilling and completions…
Unconventional Reservoirs: Sweet Spot Identification Early mover in best parts of plays yields best-in-class results Multi-disciplinary approach Eagle Ford, Bakken and Permian successful outcomes Securing additional liquids-rich…
High-Margin Major Growth Projects in Execution Major projects will account for 400 MBOED by 2017 Lower-risk geographies and geologies; diversified market exposure Major Projects Growth (2012-2017) MBOED Oil Sands Norway 100…
Diverse Unconventional and Conventional Exploration Portfolio West Duvernay, Greenland Barents Sea Muskwa, & North Sea Montney & Canol Poland Wolfcamp, Sichuan Niobrara & Gulf of Avalon Mexico Azerbaijan Bangladesh…
Progressing Worldwide Exploration Opportunities Emerging unconventional plays Canada: Canol Shale 2 vertical wells logged and cored Conventional and Unconventional Exploration Activity Lower 48: Niobrara Drilled 3 wells in 1Q13…
International Conventionals: Deepwater Angola Angola Play identified as a probable analog to Brazil pre- salt play ANGOLA Recent discoveries de-risk play concept in Kwanza Basin Luanda ConocoPhillips-operated 2.5 MM acre…
Exploration Catalysts in Deepwater GOM 2013 Gulf of Mexico Exploration Two significant discoveries Texas Louisiana announced Tiber Shenandoah Ardennes Shenandoah appraisal well discovery WI: 18% Target: L Tertiary WI: 30% Target:…
2013 2014: Positioned for Success Strategic Operational Financial Delivering on value Significant inflection Maintain strong proposition point balance sheet Complete Visible results from Demonstrate announced asset exploration…
Our Value Proposition Relentless focus on safety and execution Compelling dividend 3 5% production growth rate 3 5% margin growth rate Ongoing priority to improve financial returns Production and margin reflect…
Q&A Citis Global Energy Conference - Boston Matt Fox, EVP Exploration and Production May 15, 2013
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