Credit Suisse 2013 Energy Summit February 7, 2013 Ryan Lance, Chairman and CEO
Highlights and Accomplishments Completed separation of downstream business to emerge as North Americas largest independent E&P company Strategic Completed asset sales of 2.1 B and announced 9.6 B in agreements for additional…
2012 Reserve Replacement Yearend reserves of 8.6 BBOE Organic reserve additions of 942 MMBOE Total reserve additions of 859 MMBOE Production includes fuel gas. 83 MMBOE reduction reflects net dispositions completed in 2012. 4
Our Value Proposition Sectorleading distributions 3 5% production CAGR 3 5% margin CAGR Ongoing priority to improve returns Relentless focus on safety and execution 5
ConocoPhillips: Positioned for Success Production: 1,578 MBOED (YE 2012) Largest North Americanbased independent Liquids Majors asset base with compelling growth LNG + International Gas North American Gas Highmargin legacy assets…
Investing for Profitable Growth Disciplined allocation of 16 B annual capex generates 3 5% CAGR with high margins and lower risk Estimated 2012 fullyear impact of disposition candidates. 2012 2016 data effective as of Sept…
Margin Improvement and Compelling NearTerm Growth Shift to highmargin production drives 3 5% cash margin CAGR Five highmargin projects will account for 550+ MBOED by 2016 Lowerrisk geographies and geologies; diversified plays…
Portfolio Overview: Impactful North American Position Largest independent producer in North America 3 5% production CAGR projected from highreturn programs Technical strengths in unconventional, heavy oil and arctic 2012 2016…
Portfolio Overview: Lower Risk International Position Majority of production in longlived assets in OECD countries 4 6% production CAGR expected from major projects Technical capabilities in conventional, deepwater, LNG,…
Massive Land Position in L48 and Canada COP Acreage COP Acreage Lower 48: 15.8 MM Net Acres Williston Williston Western Canada: 5.9 MM Net Acres Total North America: 22 MM Net Bakken Bakken Acres Rockies Rockies Niobrara…
Strong Unconventional Technology Capability Sweet spot identification Reservoir & completion performance Field Optimization Pilot Well construction Well intervention Completions Optimization Lifeoffield optimization…
Eagle Ford Best Position in Best Play 228 M net acres in liquidsrich play (77% liquids) with 1.8 BBOE resources 2012 Program: 2.5 B investment; 50%+ return 1 Wells lead industry performance with 37/BBL breakeven WTI2 Production…
Permian Emerging Liquids Growth 1.1 MM net acres in liquidsrich play (60% liquids) with 1.1 BBOE resources 2012 program: 0.6 B investment; 40%+ return1 Exposure in every play; over 7,000 gross identified well locations Promising…
Bakken Legacy Oil in Heart of Trend 207 M net lease / 419 M net mineral acres in oil play with 0.4 BBOE resources1 2012 program: 0.6 B investment; 25%+ return 2 Managed pace based on access to service and infrastructure Drilling…
Margin Improvement and Compelling NearTerm Growth Shift to highmargin production drives 3 5% cash margin CAGR Five highmargin projects will account for 550+ MBOED by 2016 Lowerrisk geographies and geologies; diversified plays…
Future Growth from Unconventional Exploration North America: accessing and testing many high quality, highvalue, liquidsrich plays Canol Added 750,000 net acres in North America since 2011 Horn River Material working interest in…
Future Growth from Conventional Deepwater Exploration North America: 6th largest deepwater Gulf of COP leases Mexico lease owner Lower Tertiary Play Shenandoah 1.9 MM net acres Currently participating in 2 wells: Coronado wildcat…
2013 Priorities Ongoing focus on safety and operations excellence Complete announced divestitures Execute drilling programs and major growth projects Advance conventional and unconventional exploration activities Maintain…
Credit Suisse 2013 Energy Summit February 7, 2013 Ryan Lance, Chairman and CEO
Annualized Income Sensitivities Crude Brent/ANS: 8595 MM change for 1/BBL change WTI: 2025 MM change for 1/BBL change WCS: 2025 MM change for 1/BBL change North American NGL Representative blend: 2025 MM change for 1/BBL…
2012 Performance Production O T MBOED H E R Continuing Discontinued Operations Operations1 1 Reflects production from Algeria and Nigeria. 24
2013 Production Outlook O T MBOED Total 1Q13 outlook: H E 1,5801,600 MBOED R 2013 outlook from continuing operations: 1,4751,525 MBOED Expect significant dip in 2Q/3Q 2013 Seasonality Planned maintenance Project…
Lower 48 and Latin America Bakken Eagle Ford sets new production record Bakken Achieved 103 MBOED peak rate during 4Q12 11 operated rigs drilling at yearend Bakken ramping up Averaged 24 MBOED in 4Q12 9 operated rigs drilling at…
Canada Oil Sands Oil Sands Oil Sands projects executing well Exceeded 100 MBOED average in 4Q12 7 major project phases in execution across FCCL and Surmont Western Canada focused on liquids 201213 programs targeting liquids/light…
Alaska Kuparuk Production restored following successful 3Q12 turnarounds Development drilling innovation Octolateral coiled tubing drilling Alpine West CD5 project sanctioned and progressing ANS Gas LNG concept selection to…
Asia Pacific and Middle East Malaysia first oil Gumusut Gumusut startup through temporary facilities with a yearend exit rate of 9 MBOED net Production sharing contract signed for operated, offshore exploration Block SB311 China…
Europe Jasmine United Kingdom developments progressing Significant unplanned downtime in 4Q12 Projects progressing Katy development completed and producing Clair Ridge and Jasmine developments on track Awarded two licenses in the…
Other International Angola Announced sales agreements for Kashagan, Nigeria and Algeria Expect close mid2013 2012 average production rate 25 MBD liquids 150 MMCFD natural gas Yearend 2012 reserves 180 MMBBL liquids 830 BCF…
Shareholder Contacts Stock Ticker: NYSE: COP Headquarters: ConocoPhillips Company 600 N. Dairy Ashford Houston, Texas 77079 www.conocophillips.com/investor Investor Relations: +1.212.207.1996 Ellen DeSanctis…
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