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2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips

ConocoPhillips · Jul 27, 2011 · 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 2011 CONFERENCE CALL – ConocoPhillips – slide 1
    2 Quarter 2011 nd Conference Call July 27, 2011
  2. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 2
    SecondQuarter Overview Adjusted Earnings 3.4 B 2.41 EPS / 4.44 CFPS Cash from 1.64 MMBOED production Operations 6.3 B 91% refining utilization 3% of shares repurchased Return on Capital Employed 15% 2
  3. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 3
    ConocoPhillips Economic Contribution 2011 YeartoDate 30,000 jobs at Local, state, and federal ConocoPhillips governments Additional jobs with Income, production, our suppliers and and severance taxes Operating Taxes paid to…
  4. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 4
    Company Adjusted Earnings 2Q11 vs. 2Q10 MM 20 430 290 1,072 3,403 2,451 2Q10 Adjusted E&P R&M LUKOIL Other 2Q11 Adjusted Earnings Earnings 4
  5. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 5
    E&P Production 2Q11 vs. 2Q10 MBOED 46 16 48 45 Asset Dispositions 28 1,733 1,623 1,640 2Q10 Liquid & Int. N.A. Gas Libya Adjusted for N.A. Gas Liquids & Int. 2Q11 Gas Asset Gas Dispositions and Libya 5
  6. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 6
    E&P Adjusted Earnings 2Q11 vs. 2Q10 MM 29 103 1,146 2,551 1,479 2Q10 Adjusted Prices & Other Market Sales Volumes Costs & Other 2Q11 Adjusted Earnings Impacts Earnings Adjusted 2Q11 vs. 2Q11 vs. Earnings 2Q10 2Q11 2Q10…
  7. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 7
    E&P per BOE Metrics E&P Income per BOE E&P Cash Contribution per BOE / BOE / BOE 30 30 25 25 20 20 15 15 22.28 22.30 24.07 26.29 29.35 10 10 5 9.38 9.53 11.66 14.34 17.09 5 0 0 2Q10 3Q10 4Q10 1Q11 2Q11 2Q10 3Q10 4Q10 1Q11…
  8. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 8
    R&M Adjusted Earnings 2Q11 vs. 2Q10 MM 63 21 18 4 720 740 2Q10 Adjusted Margins & Other Volumes Operating Other 2Q11 Adjusted Earnings Market Impacts Costs Earnings 456 Adjusted 2Q11 vs. Realized 2Q11 vs. Earnings 2Q10…
  9. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 9
    R&M per BBL Metrics R&M Income per BBL R&M Cash Contribution per BBL / BBL / BBL 4 4 3 3 2 2 1 1 2.60 0.94 1.74 2.58 3.36 1.63 1.41 2.49 3.32 0.70 0 0 2Q10 3Q10 4Q10 1Q11 2Q11 2Q10 3Q10 4Q10 1Q11 2Q11 Based on…
  10. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 10
    Other Segments Adjusted Earnings 2Q11 vs. 2Q10 MM 2Q10 2Q11 199 138 130 61 (203) (367) Chemicals Midstream Corporate 10
  11. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 11
    Company Cash Flow 2Q11 B 0.2 0.9 3.1 5.4 3.1 0.9 0.3 8.4 8.1 2Q11 CFO excl Working Proceeds from Capital Share Dividends Other 2Q11 Beginning Working Capital Dispositions Program Repurchase Ending Cash & Cash & Short-…
  12. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 12
    Capital Structure 100 40 50 80 40 71 30 29 69 27 33 63 31 60 24 23 30 56 25 25 20 40 20 10 20 10 0 0 0 '08 '09 '10 2Q11 '08 '09 '10 2Q11 '08 '09 '10 2Q11 Equity B Balance Sheet DebttoCapital Debt B Ratio % 12
  13. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 13
    ROCE/CROCE Return on Capital Employed Cash Return on Capital Employed 35% 35% 30% 30% 25% 25% 20% 20% 15% 15% 10% 10% 21% 19% 19% 21% 24% 5% 11% 9% 9% 12% 15% 5% 0% 0% 2Q10 3Q10 4Q10 1Q11 2Q11 2Q10 3Q10 4Q10 1Q11 2Q11…
  14. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 14
    Outlook Operations Exploration and Project Updates Asset Dispositions Share Repurchase Repositioning of ConocoPhillips 14
  15. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 15
    Transaction Summary Pursuing taxfree spin off of Downstream business Creates leading independent Downstream company ConocoPhillips becomes major pureplay E&P company Progress and key milestones Transition management team in place…
  16. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 16
    Appendix 16
  17. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 17
    2Q11 vs. 1Q11 Total Company Adjusted Earnings (MM) E&P Adjusted Earnings (MM) 109 32 27 38 507 94 698 3,403 2,551 2,197 2,634 1Q11 Adjusted Earnings Prices, Margins & Other Volumes Other 2Q11 Adjusted Earnings 1Q11…
  18. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 18
    COP NonGAAP Reconciliations Millions of dollars, except per share amounts 2011 2010 1Q 2Q 1Q 2Q Consolidated Earnings 3,028 3,402 2,098 4,164 Adjustments: Impairments - - - 1,118 Cancelled projects - 54 110 4 Net gain on asset…
  19. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 19
    COP NonGAAP Reconciliations Millions of dollars 2011 2010 1Q 2Q 1Q 2Q R&M Earnings (loss) 482 766 (4) (279) Adjustments: Impairments - - - 1,118 Cancelled project - - 25 4 Net gain on asset sales (2) (26) - (116) Severance…
  20. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 20
    COP NonGAAP Reconciliations 2Q10 3Q10 4Q10 1Q11 2Q11 1 GAAP E&P Net Income - MM 4,114 1,564 1,688 2,352 2,524 GAAP E&P Net Income1 - / BOE 26.09 9.90 10.61 15.35 16.91 non-core earnings impacts - MM (gains) and losses on asset…
  21. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 21
    COP NonGAAP Reconciliations 2Q10 3Q10 4Q10 1Q11 2Q11 1 GAAP R&M Net Income - MM (279) 268 207 482 766 GAAP R&M Net Income1 - / BBL (1.01) 0.94 0.70 1.75 2.67 non-core earnings impacts - MM (gains) and losses on asset dispositions…
  22. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 22
    COP NonGAAP Reconciliations ROCE 2Q10 3Q10 4Q10 1Q11 2Q11 Numerator (MM) Net income 4,183 3,069 2,053 3,042 3,419 After-tax interest expense 227 172 177 170 160 GAAP ROCE earnings 4,410 3,241 2,230 3,212 3,579 Non-core earnings…
  23. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 23
    COP NonGAAP Reconciliations CROCE 2Q10 3Q10 4Q10 1Q11 2Q11 Numerator (MM) EBIDA1 6,690 5,487 4,446 5,282 5,654 Non-core earnings impacts (1,713) (818) (112) (394) 1 Adjusted EBIDA 4,977 4,669 4,334 4,888 5,655 Adustment to exclude…
  24. 2ND QUARTER 2011 CONFERENCE CALL – ConocoPhillips – slide 24
    COP NonGAAP Reconciliations E&P - ROCE 1Q11 2Q11 Numerator (MM) Net income 2,352 2,524 After-tax interest expense 21 20 GAAP ROCE earnings 2,373 2,544 Non-core earnings impacts (155) 27 Adjusted earnings 2,218 2,571 Denominator…

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