4th Quarter 2012 Conference Call Ryan Lance, Chairman and CEO Jeff Sheets, EVP, Finance and CFO Matt Fox, EVP, Exploration & Production Jan. 31, 2013
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…
FINANCIAL REVIEW 4Q12 Performance Adjusted Earnings Adjusted Earnings (MM) Adjusted earnings down 14% vs. 4Q11; up 3% vs. 3Q12 4Q12 adjusted EPS benefits from 7% reduction in share count vs. 4Q11 Production volumes as planned…
FINANCIAL REVIEW 4Q12 Performance Production O T H MBOED E R Liquids growing as a percentage of production from continuing operations 1 Continuing Discontinued Operations Operations2 1 Includes downtime of 15…
FINANCIAL REVIEW 2013 Production Outlook O T MBOED Total 1Q13 outlook: H E 1,580-1,600 MBOED R 2013 outlook from continuing operations: 1,475-1,525 MBOED Expect significant dip in 2Q/3Q 2013 Seasonality Planned…
FINANCIAL REVIEW Lower 48 and Latin America Production (MBOED) Realized Prices Adjusted Earnings (MM) Production up sequentially and year-over-year Up 3% vs. 3Q12 Up 7% vs. 4Q11; liquids up 20% Eagle Ford production milestone…
FINANCIAL REVIEW Canada Production (MBOED) Realized Prices Adjusted Earnings (MM) Production continues to increase Up 1% vs. 3Q12; up 6% vs. 4Q11 Production growth from oil sands for five consecutive quarters 23% increase in…
FINANCIAL REVIEW Alaska Production (MBOED) Realized Prices Adjusted Earnings (MM) Production up sequentially post 3Q12 turnaround activity Production down year-over-year due to normal field decline Earnings volatility created…
FINANCIAL REVIEW Asia Pacific and Middle East Production (MBOED) Realized Prices1 Gas Adjusted Earnings (MM) Production up sequentially and year-over-year Up 5% vs. 3Q12 Up 11% vs. 4Q11 Panyu growth project online First…
FINANCIAL REVIEW Europe Production (MBOED) Realized Prices Adjusted Earnings (MM) Production up sequentially post 3Q12 turnaround activity Production down year-over-year due to normal field decline, downtime and dispositions…
FINANCIAL REVIEW Other International Production (MBOED)1 Realized Prices2 Adjusted Earnings (MM) 1 Announced agreements to sell interest in Kashagan, Algeria and Nigeria business units Reported as discontinued operations…
FINANCIAL REVIEW Corporate and Other Adjusted Earnings (MM) Segment earnings for current quarter in line with full-year guidance 3Q12 benefited from higher licensing revenues Issued 2 B of low-cost debt in 4Q12 Repaid commercial…
FINANCIAL REVIEW Margins and Returns Adjusted Earnings (MM) Return on Capital Employed (%) Cash Contribution per BOE () Income per BOE () Numbers have been adjusted for special items. Per BOE metrics reflect operating…
FINANCIAL REVIEW 2012 Performance Company Cash Flow Year-end 2012: B Debt of 21.7 B Debt-to-capital ratio of 31% 3 1 Beginning cash and short-term investments includes cash and cash equivalents of 5.78 B and short-term…
OPERATIONS REVIEW 2012 Reserve Replacement MMBOE Year-end reserves of 8.6 BBOE Organic reserve replacement rate of 156% Total reserve replacement rate of 142% Organic reserve additions of 942 MMBOE, including: Canadian Oil…
OPERATIONS REVIEW Lower 48 and Latin America Bakken Eagle Ford sets new production record Achieved 103 MBOED peak rate during 4Q12 11 operated rigs drilling at year-end Bakken ramping up Averaged 24 MBOED in 4Q12 9 operated rigs…
OPERATIONS REVIEW Canada 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 2012-2013 programs targeting…
OPERATIONS REVIEW Alaska Kuparuk Production restored following successful 3Q12 turnarounds Development drilling innovation Octo-lateral coiled tubing drilling Alpine West CD5 Project sanctioned and progressing ANS Gas LNG…
OPERATIONS REVIEW Asia Pacific and Middle East Malaysia first oil Gumusut Gumusut start-up through temporary facilities with a year-end exit rate of 9 MBOED net Production sharing contract signed for operated, offshore exploration…
OPERATIONS REVIEW 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…
OPERATIONS REVIEW Other International Angola Announced sales agreements for Kashagan, Nigeria and Algeria Expect close mid-2013 2012 average production rate 25 MBD liquids 150 MMCFD natural gas Year-end 2012 reserves 180 MMBBL…
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…
2012 Performance Production O T H MBOED E R Continuing Discontinued Operations Operations1 1 Reflects production from Algeria and Nigeria. 27
Quarterly Margins and Returns Adjusted Earnings () Return on Capital Employed (%) Cash Contribution per BOE () Income per BOE () Margins and returns are adjusted for special items. Per BOE metrics reflect operating segments…
Non-GAAP Reconciliations Return on Capital Employed 2010 2011 2012 Numerator (MM) Net Income Attributable to ConocoPhillips 11,358 12,436 8,428 Adjustment to exclude special items (4,664) (4,454) (1,694) Net income attributable to…
Non-GAAP Reconciliations Return on Capital Employed 4Q11 1Q12 2Q12 3Q12 4Q12 Numerator (MM) Net Income Attributable to ConocoPhillips 3,390 2,937 2,267 1,798 1,426 Adjustment to exclude special items (1,339) (1,158) (767) (98) 329…
Non-GAAP Reconciliations Earnings and Cash per BOE - Operating Segments 2010 2011 2012 Millions, except per BOE amounts Net Income Attributable to ConocoPhillips 11,358 12,436 8,428 Adjustment to exclude special items (4,664) (4,454)…
Non-GAAP Reconciliations Earnings and Cash per BOE - Operating Segments 4Q11 1Q12 2Q12 3Q12 4Q12 Millions, except per BOE amounts Net Income Attributable to ConocoPhillips 3,390 2,937 2,267 1,798 1,426 Adjustment to exclude special…
Non-GAAP Reconciliations Reconciliation of Earnings to Adjusted Earnings Millions of dollars, except per share amounts 2010 2011 2012 FY 4Q FY 1Q 2Q 3Q 4Q FY Consolidated Earnings 11,358 3,390 12,436 2,937 2,267 1,798 1,426 8,428…
Non-GAAP Reconciliations Reconciliation of Earnings to Adjusted Earnings Millions of dollars 2011 2012 4Q 1Q 2Q 3Q 4Q Alaska Earnings 426 620 551 535 570 Adjustments: Pending claims and settlements - - - - 25 Adjusted earnings 426 620…
Non-GAAP Reconciliations Reconciliation of Earnings to Adjusted Earnings Millions of dollars 2011 2012 4Q 1Q 2Q 3Q 4Q Europe Earnings 565 389 669 132 308 Adjustments: International tax law changes - - - 167 - Impairments - - 30 -…
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