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2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips

ConocoPhillips · Jul 25, 2012 · 24 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. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 1
    2nd Quarter 2012 Conference Call Ryan Lance, Chairman and CEO Jeff Sheets, EVP, Finance and CFO July 25, 2012
  2. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 2
    Second-Quarter Highlights Completed spinoff of downstream businesses Strategic Generated 0.5 billion proceeds from dispositions Progressed conventional/unconventional exploration Met production estimate of 1.54 MMBOED…
  3. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 3
    State of the Business Business is running well growth on target Unconventional programs continue to perform well Major projects on schedule Planned maintenance activities on track Exploration activities gaining momentum Focused on…
  4. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 4
    2012 2013 Investment Priorities and Actions Sources of Cash Uses of Cash by Priority June 2012 Total Cash Annual Dividend 6 billion1 3 billion Annual Capital Program Cash From Operations 15 billion 12 / 13 Asset Dispositions…
  5. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 5
    2Q12 Adjusted Earnings Key Drivers Commodity prices trended lower Sales and production volumes as planned Solid performance across the portfolio Significant tri-annual maintenance cycle Lower North American natural gas Operating…
  6. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 6
    Volume and Realized Price Overview 2Q12 Sales Volume Mix Realized Prices 2Q11 1Q12 2Q12 N.A. (WTI) 99 98 88 Crude (/Bbl) N.A. Nat Intl & Alaskan Intl & 115 116 110 Gas Crude (/Bbl) Alaskan Crude 25% N.A. Nat Gas 32% 4.04…
  7. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 7
    2Q12 Performance Production O T H MBOED E R 34 111 37 33 105 1,640 1,542 2Q11 Vietnam & N.A. Natural Downtime Decline Growth & 2Q12 N. Sea Gas Other Dispositions 8
  8. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 8
    2Q12 Performance Adjusted Earnings Adjusted Earnings (MM) 2,311 North America adversely impacted by commodity prices compared to a 1,841 year ago 1,535 Natural gas prices down by more than 50% NGL prices down by more than 20%…
  9. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 9
    Alaska Segment Overview Production (MBOED) Liquids Gas 233 237 236 Important source of earnings and 208 215 production performance from legacy asset base Planned turnarounds continuing into third quarter Pursuing additional…
  10. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 10
    Lower 48 & Latin America Segment Overview Production (MBOED) Liquids Gas 425 434 444 451 441 Continued success in ramping up production from Lower 48 shale plays 2Q12 financial results lower due to significant drop in natural gas…
  11. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 11
    Canada Segment Overview Production (MBOED) Liquids Gas Growth in liquids production 262 256 264 266 268 Financial results adversely impacted by low natural gas prices and high crude differentials Developing Surmont Phase II and…
  12. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 12
    Europe Segment Overview Production (MBOED) Liquids Gas Production down due to 278 277 271 maintenance downtime and asset 245 236 sales Segment benefits from a more favorable commodity price environment than North America 2Q11 3Q11…
  13. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 13
    Asia Pacific & Middle East Segment Overview Production (MBOED) Liquids Gas 354 312 Peng Lai produced 30 MBOED net at 302 290 270 end 2Q12 Vietnam disposition at end of 1Q12 Completed major turnaround in Bayu-Undan and Darwin…
  14. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 14
    Other International Segment Overview Production (MBOED) Liquids Gas Segment includes assets in Russia, 110 112 Caspian and Africa 88 83 85 Recent production improvements as Libyan operations return to normal 2Q12 earnings…
  15. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 15
    Corporate and Other Segment Overview Adjusted Earnings (MM) Segment includes: Net interest expenses Corporate G&A expenses Environmental costs associated with former businesses Certain foreign exchange (203) transaction…
  16. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 16
    Operating Segments Margin and Returns Income per BOE () Cash Contribution per BOE () 30 30 25 25 20 20 15 15 10 10 17 15 16 14 13 29 27 27 25 24 5 5 0 0 2Q11 3Q11 4Q11 1Q12 2Q12 2Q11 3Q11 4Q11 1Q12 2Q12 Return on Capital…
  17. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 17
    2012 YTD Company Cash Flow 2Q12 B Debt = 23.0 B Cash = 6.0 B 1.6 Debt/Cap = 33% 7.0 0.6 5.7 0.7 8.2 4.9 6.4 1.7 6.0 2012 Cont. CFO Cont. Proceeds Capital Dividends Net Spinoff Share Debt & June 2012 Beginning excl.…
  18. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 18
    Summary Plans Remain on Track Completed spinoff of Phillips 66 Strong operational quarter Focused on executing major projects, exploration programs, and asset sales Managing through commodity price volatility Our long-term value…
  19. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 19
    2nd Quarter 2012 Conference Call July 25, 2012
  20. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 20
    COP Non-GAAP Reconciliations Reconciliation of Earnings to Adjusted Earnings Millions of dollars, except per share amounts 2011 2012 2Q 3Q 4Q 1Q 2Q Consolidated Earnings 3,402 2,616 3,390 2,937 2,267 Adjustments: Impairments - -…
  21. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 21
    COP Non-GAAP Reconciliations Reconciliation of Earnings to Adjusted Earnings Millions of dollars, except per share amounts 2011 2012 2Q 3Q 4Q 1Q 2Q Canada Earnings (loss) 101 73 (110) (549) (94) Adjustments: Impairments - - 190…
  22. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 22
    COP Non-GAAP Reconciliations ROCE Operating Segments 2Q11 3Q11 4Q11 1Q12 2Q12 Numerator (MM) Net Income (Loss) Attributable to ConocoPhillips 3,402 2,616 3,390 2,937 2,267 Adjustment to exclude special items (1,091) (704) (1,276)…
  23. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 23
    COP Non-GAAP Reconciliations CROCE Operating Segments 2Q11 3Q11 4Q11 1Q12 2Q12 Numerator (MM) Net Income (Loss) Attributable to ConocoPhillips 3,402 2,616 3,390 2,937 2,267 Adjustment to exclude special items (1,091) (704) (1,276)…
  24. 2ND QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 24
    COP Non-GAAP Reconciliations & Other Earnings and Cash per BOE - Operating Segments 2Q11 3Q11 4Q11 1Q12 2Q12 Millions, except per BOE amounts Net Income (Loss) Attributable to ConocoPhillips 3,402 2,616 3,390 2,937 2,267 Adjustment to…

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