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Investor Presentation Update – EOG Resources, Inc.

EOG Resources, Inc. · Sep 16, 2014 · 38 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. Investor Presentation Update – EOG Resources, Inc. – slide 1
    NYSE Stock Symbol: EOG Investor Relations Contacts Common Dividend: 0.67 Maire A. Baldwin, Vice President IR Basic Shares Outstanding: 547.5 Million (713) 651-6364, Fax (713) 651-6473 mbaldwineogresources.com David J. Streit, Director…
  2. Investor Presentation Update – EOG Resources, Inc. – slide 2
    2Q 2014 Delivered 33% YOY U.S. Crude Oil Growth and 17% Total Production Growth Raised Common Stock Dividend 34%; Second Increase in 2014 Added Delaware Basin Oil Play, 2nd Bone Spring Sand to Drilling Inventory Strong Spacing…
  3. Investor Presentation Update – EOG Resources, Inc. – slide 3
    Best Horizontal Crude Oil Assets in North America Peer-Leading Organic Crude Oil Production Growth - 2011 +52% - 2012 +39% 40% 4-Year CAGR - 2013 +40% - 2014E* +29% 2014E ROE/ROCE Average of Majors, Integrateds and Independent…
  4. Investor Presentation Update – EOG Resources, Inc. – slide 4
    Exploration and Technology Focus Exploration - Identify Additional Targets in Existing Plays - Generate New Plays Internally - Capture Premier Acreage - Early-Mover Strategy Drives Low Leasing Costs Technology Application - EOG…
  5. Investor Presentation Update – EOG Resources, Inc. – slide 5
    Eagle Ford Bakken/Three Forks Delaware Basin Leonard Direct After-Tax Rate of Return* Powder River Basin Parkman Wyoming DJ Basin Codell Powder River Basin Turner Delaware Basin 2nd Bone Spring Sand 100% Delaware Basin…
  6. Investor Presentation Update – EOG Resources, Inc. – slide 6
    Majority of Capex Increase Going to Top Plays: 2014* Eagle Ford, Bakken, Permian and Rockies 10 Gathering, Exploration and 9 8.1 to 8.3 Bn Processing Development 8 and Other Facilities 7.1 Bn Gathering, 7 Exploration & 10% 11%…
  7. Investor Presentation Update – EOG Resources, Inc. – slide 7
    Tactical - 2014 High Return Oil Growth Increased Dividend Twice - February +33% - August +34% Strategic - 2015+ High Rate-of-Return Capital Expansion - Increase E&P Activity in Highest ATROR Plays - Increase High-Return…
  8. Investor Presentation Update – EOG Resources, Inc. – slide 8
    400 Extending Our Lead 350 EOG 300 OXY 250 CVX 200 150 100 50 0 Jan May Sep Jan May Sep Jan May Sep Jan May Sep Jan 2010 2011 2012 2013 2014 * Source: IHS data through April 2014. Gross operated oil…
  9. Investor Presentation Update – EOG Resources, Inc. – slide 9
    70 60 50 40 30 20 10 Co. 12 Co. 13 0 EOG Co. 1 Co. 2 Co. 3 Co. 4 Co. 5 Co. 6 Peer Co. 7 Co. 8 Co. 9 Co. 10 Co. 11 Avg. -10 Apache Corp Anadarko Petroleum EOG Resources Devon Energy Continental Resources…
  10. Investor Presentation Update – EOG Resources, Inc. – slide 10
    300 285 250 65 Actual 220 200 62 158 150 45 113 100 38 75 55 20 50 0 2009 2010 2011 2012 2013 2014E* * Based on mid-point of full-year 2014 production estimates as of August 5, 2014. EOG_0914 v3-9
  11. Investor Presentation Update – EOG Resources, Inc. – slide 11
    2014 Drilling Oil Net Wells Years* Eagle Ford 520 12 Bakken/Three Forks 80 8 Delaware Basin Leonard/Bone Spring 40 40+ DJ Basin 39 12 Powder River Basin 34 8 Combo Delaware Basin Wolfcamp 14 75+ Midland Basin Wolfcamp 10…
  12. Investor Presentation Update – EOG Resources, Inc. – slide 12
    2011 2012 2013 2014E* 2015E - 2017E Crude Oil and Condensate 52% 39% 40% 29% Continued Best-in-Class NGLs 39% 32% 17% 18% Double-Digit Growth Total Company Liquids 48% 37% 34% 27% North American Gas -7% -9% -13% -3% Flat Other…
  13. Investor Presentation Update – EOG Resources, Inc. – slide 13
    88% 89% 86% NGLs 79% 76% 71% 72% 59% 53% Oil 47% 41% 29% 28% 24% 21% 14% 12% 11% 2006 2007 2008 2009 2010 2011 2012 2013 2014E* Liquids (Crude Oil and NGLs) Natural Gas * Based on NYMEX 2014 Current Oil to Gas…
  14. Investor Presentation Update – EOG Resources, Inc. – slide 14
    43.31 40.14 34.11 29.29 20.04 2010 2011 2012 2013 2Q YTD * Wellhead Revenues for Crude Oil and Condensate, Natural Gas Liquids and Natural Gas less Lease and Well Costs, Transportation Costs, Exploration Costs, Dry Hole…
  15. Investor Presentation Update – EOG Resources, Inc. – slide 15
    ROCE ROE 18.1% 14.5% 15.6% 12.4% 11.8% 9.4% 2012* 2013* 2014E** 2012* 2013* 2014E** * See reconciliation schedule. ** Goldman Sachs estimates July 25, 2014, 96.50 WTI and 4.25 Henry Hub in 2014. EOG_0914 v3-14
  16. Investor Presentation Update – EOG Resources, Inc. – slide 16
    ROCE* ROE* 18.1% 15.6% 14.5% 14.1% 13.7% 13.6% 12.4% 12.7% 11.7% 11.2% 10.0% 9.5% 8.9% 6.6% Integrateds Integrateds Integrateds Integrateds 3.4% 3.7% Majors Majors Majors Majors EOG…
  17. Investor Presentation Update – EOG Resources, Inc. – slide 17
    0.70 Committed to the Dividend 0.67 Increased Dividend Twice in 2014 0.60 16 Dividend Increases in 15 Years 0.50 0.50 0.40 0.375 0.34 0.31 0.32 0.29 0.30 0.255 0.20 0.18 0.12 0.10 0.08 0.05 0.06 0.03 0.035 0.04…
  18. Investor Presentation Update – EOG Resources, Inc. – slide 18
    140 API Gravity 120 50 to 100 48 to 50 100 45 to 48 80 35 to 45 0 to 35 60 40 20 0 EOG Conoco Phillips Devon Anadarko EP Energy BHP EOG 1 2 3 4 5 6 7 8 9 10 * IHS data January 2011 through April 2014. Cumulative…
  19. Investor Presentation Update – EOG Resources, Inc. – slide 19
    Largest Oil Producer and Acreage Holder in the San Antonio Eagle Ford - 2Q 2014 Oil Production Up 46% YOY Continued Outstanding Well Results Across Acreage Crude Oil Window IP Rate County Well Bopd Wet Gas Window Gonzales Boothe Unit…
  20. Investor Presentation Update – EOG Resources, Inc. – slide 20
    Big Fields Get Bigger Increased Estimated Potential Reserves* by 45% Reserve Potential* Since Discovery Increased Total Well Count to 7,200, Net Locations (BnBoe) - 12-Year Inventory of 60% ATROR** Drilling Locations 3.2 - Average…
  21. Investor Presentation Update – EOG Resources, Inc. – slide 21
    April 2010 Feb 2012 Feb 2013 Feb 2014 Wells/Section (Unit) 5 10 10 - 16 16 Per Well Spacing (Acres) 130 Acres 65 Acres 40-65 Acres 40 Acres Est. Reserves, NAR 320 MBoe 450 MBoe 400 MBoe 450 MBoe CWC 5.25 MM 6 MM 6 MM 5.7 MM…
  22. Investor Presentation Update – EOG Resources, Inc. – slide 22
    (Mbo) Average Cumulative Crude Oil Production* 45 for Eagle Ford West Wells 40 2014 YTD 2013 35 30 2012 25 2011 20 15 10 5 0 0 10 20 30 40 50 60 Producing Days * Normalized to 5,300-foot lateral. EOG_0914 v3-21
  23. Investor Presentation Update – EOG Resources, Inc. – slide 23
    Atascosa County Pacheco Unit 1H 1,840 Bopd Dicke A Unit 4H 1,810 Bopd Gonzales County Zimmerman Unit 14H 3,800 Bopd Boothe Unit 11H, 16H San Antonio 4,570 and 3,245 Bopd DeWitt County Justiss Unit 11H 13H 3,900 4,130…
  24. Investor Presentation Update – EOG Resources, Inc. – slide 24
    Transformed into High ROR Crude Oil Growth Play Canada New Frac Technology Improves Recovery and Returns State Line Stanley, ND Delivering 100% Direct ATROR* from Core and Antelope Bakken Lite - Bakken Core 90,000 Net Acres Elm Coulee…
  25. Investor Presentation Update – EOG Resources, Inc. – slide 25
    Brushy Canyon Net to EOG* MMboe Leonard A New Mexico High ROR Oil Play 550 MMboe Texas - Spacing Tests Underway Leonard B 4,800 1st Bone Spring Leonard/ Bone Spring 2nd Bone Spring Over Pressured Oil Play Evaluating - Strong Initial…
  26. Investor Presentation Update – EOG Resources, Inc. – slide 26
    Drilled and Participated in 16 Wells Since 2013 - Wells Producing from 500 - 1,400 Bopd NGLs - API = 45 14% Gas Target Well Economics for 4,500 Lateral 16% - EUR 500 MBoe/Well, Gross Oil - 6 MM CWC and 100% Direct ATROR* 70% -…
  27. Investor Presentation Update – EOG Resources, Inc. – slide 27
    73,000 Net Acres EOGs 3rd Best ROR Play NGLs 26% Both a Development and Exploration Area Oil 50% Estimated Reserve Potential* 550 MMBoe, Net to EOG Gas 24% Target Well Economics for 4,400 Lateral - 500 MBoe EUR/Well, Gross; 400…
  28. Investor Presentation Update – EOG Resources, Inc. – slide 28
    Completed Well Costs* Average Oil IP Rates* (MM) (Bopd) 6.9 6.4 1,263 5.3 5.0 783 737 691 2011 2012 2013 2014 2011 2012 2013 2014 YTD YTD * Normalized to 4,400-foot lateral. EOG_0914 v3-27
  29. Investor Presentation Update – EOG Resources, Inc. – slide 29
    (Mbo) Better Wells on Tighter Spacing (Feet) 45 1,200 1,032 15% 40 911 1,000 35 17% 30 14% 800 836 25 600 20 554 15 400 10 200 5 0 0 2011 2012 2013 2014 YTD Average 80-Day Cumulative Oil* Well-Spacing *…
  30. Investor Presentation Update – EOG Resources, Inc. – slide 30
    134,000 Net Acres Multiple Pay Targets Estimated Reserve Potential* 800 MMBoe, Net to EOG NGLs Oil 33% 31% Target Well Economics for 4,500 Lateral, Reeves County - 900 Mboe EUR/Well, Gross; 700 MBoe, NAR Gas 36% - 6.5 MM CWC and…
  31. Investor Presentation Update – EOG Resources, Inc. – slide 31
    10 Years of High-Return Drilling Inventory in the Rockies Net Net Net to EOG* % Direct Basin Play Acres Locations MMboe Crude Oil API ATROR** DJ Codell 85,000 225 125 78% 36 100% Niobrara 50,000 235 85 71% 35 45% Powder River…
  32. Investor Presentation Update – EOG Resources, Inc. – slide 32
    Targeting Codell and Niobrara, 39 Net Wells Target Economics for 9,000 Foot Laterals Codell Niobrara Jubilee Pole Creek 513-0820H 525-2413H EUR/Well (Mboe) Gross 695 430 Jubilee Jubilee 69-04H NAR 560 355 30-07H CWC (MM) 7.3…
  33. Investor Presentation Update – EOG Resources, Inc. – slide 33
    Wyoming Targeting Parkman and Turner, 34 Net Wells Parkman Turner Bolt Bolt Lateral Length 7,300 8,200 429-05H 404-05H EUR/Well (Mboe) Bolt Gross 850 860 22-05H NAR 680 705 CWC (MM) 5.0 7.5 Marys Draw Direct ATROR* 100% 100%…
  34. Investor Presentation Update – EOG Resources, Inc. – slide 34
    Play Net Type Acres Haynesville 143,000 Gas and Combo Marcellus, Bradford County 46,000 Gas S. Texas Frio/Vicksburg 195,000 Gas and Combo Eagle Ford 68,000 Gas Barnett 298,000 Gas and Combo Uinta 94,000 Gas and Combo Horn River 127,000…
  35. Investor Presentation Update – EOG Resources, Inc. – slide 35
    Trinidad and Tobago Trinidad ATLANTIC Expect Full Contract Deliverability in 2014 OCEAN TRINIDAD 2H 2014 Drilling Program to Maintain Future 4(a) U(a) Deliverability U(b) SECC - Plan to Drill 3 Net Wells…
  36. Investor Presentation Update – EOG Resources, Inc. – slide 36
    Maintain Low Net Debt-to-Total Cap Ratio - Credit Ratings Moodys A3 / S&P A- Successful Efforts Accounting Zero Goodwill Two Dividend Increases in 2014 - 16 Increases in 15 Years EOG Reserves Within 5% of Independent Engineering…
  37. Investor Presentation Update – EOG Resources, Inc. – slide 37
    Crude Oil* 2014 Bbld /Bbl August 1 to December 31 194,000 96.19 Natural Gas* 2014 MMBtud /MMBtu September 1 to December 31 330,000 4.55 2015 January 1 to December 31 175,000 4.51 * As of August 5, 2014. Does not reflect…
  38. Investor Presentation Update – EOG Resources, Inc. – slide 38
    Rate-of-Return Focused Investments Drive Shareholder Value and Growth Peer-Leading Organic Crude Oil Production Growth 2014E ROE/ROCE Average of Majors, Integrateds and Independent E&Ps Exploration Focus - Premier Acreage Positions -…

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