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THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips

ConocoPhillips · Oct 31, 2013 · 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. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 1
    ThirdQuarter 2013 CONFERENCE CALL Jeff Sheets, EVP, Finance & CFO Matt Fox, EVP, Exploration & Production Oct. 31, 2013
  2. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 2
    ThirdQuarter 2013 Highlights Operational Financial Strategic Total production of 1.8 B adjusted Closed sales of 1,514 MBOED1; in earnings, 1.47 Clyden and Phoenix line with guidance adjusted EPS Park for 1.3 B Successful 3.8…
  3. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 3
    3Q13 Performance Adjusted Earnings Highlights 3Q13 adjusted earnings increased 7% vs. 3Q12; 4% vs. 2Q13 Adjusted Strong liquids pricing environment in the quarter; weaker North Earnings 1,750 1,821 American gas realizations…
  4. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 4
    3Q13 Growth From Continuing Operations MBOED Net growth +29 215 11 12 28 1,470 1,458 186 1,470 3Q12 Dispositions 3Q12 Libya Impact Downtime Decline Growth & Other 3Q13 Normalized for Dispositions 5
  5. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 5
    Growth In HigherMargin Production 3Q13 vs. 3Q12 Production 1 (MBOED) Lower 48 Liquids 54 Growth comes from areas with higher margins than the company average Canada Liquids 26 Alaska Liquids 15 Significant growth in North…
  6. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 6
    3Q13 Performance Cash Margin Improvement Cash 28.84 Price 27.09 Normalized 26.52 26.43 Margin 25.62 25.62 (/BOE) Cash Margin (/BOE) 1 3Q12 2Q13 3Q13 3Q12 2Q13 3Q13 Average Price Normalized Based On 3Q12 Realized…
  7. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 7
    YTD13 Performance Company Cash Flow B End 3Q13 Debt of 21.7 B Debttocapital ratio of 30% 3.2 11.8 0.1 11.9 2.5 1.2 4.4 3.9 2 2013 Beginning CFO excl. Working Capital Proceeds from Capital Dividends Debt & Other 3Q13…
  8. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 8
    Base Operations and Turnarounds On Plan HighQuality Legacy Base Production and Capability Major turnaround and tiein activity continued in 3Q13 Planned turnarounds completed in Alaska, Lower 48, Britannia and SNS Foster Creek…
  9. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 9
    Development Programs Delivering Production Growth HighMargin Worldwide Development Program Inventory Alaska: Sourcing additional rigs to increase development activity in 2014 Lower 48: Achieved 500 MBOED production in 3Q13 Bakken:…
  10. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 10
    Major Projects in Execution HighMargin Major Growth Projects in Execution Alaska: Progress continues on CD5, Shark Tooth and Greater Mooses Tooth 1; site selection complete for AKLNG Oil sands: Six project phases in execution and…
  11. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 11
    Exploration Momentum Continues 2013 Exploration Activity Deepwater GOM exploration West Greenland Barents Sea Gila and Deep Nansen wildcats currently North Sea drilling Canada Poland Tiber appraisal currently drilling China…
  12. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 12
    2013 Production Guidance Unchanged Except For Libya 4Q13 guidance excludes Libya (50 MBOED) Libya Continuing Operations 1 1Q13 2Q13 3Q13 4Q13 FY13 MBOED 1Q13 2Q13 3Q13 4Q13 FY13 Continuing Operations 1,555…
  13. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 13
    2013 2014: Positioned for Growth Operational Financial Strategic Significant Maintain strong Delivering on value inflection point balance sheet proposition Visible results from Demonstrate Complete exploration margin announced…
  14. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 14
    Q&A
  15. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 15
    APPENDIX
  16. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 16
    Alaska Production (MBOED) Realized Prices Liquids Gas Sales 3Q12 4Q12 1Q13 2Q13 3Q13 222 218 197 Crude 176 178 107 107 111 106 111 (/Bbl) 3Q12 4Q12 1Q13 2Q13 3Q13 Adjusted Earnings (MM) Highlights 3Q13 production…
  17. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 17
    Lower 48 and Latin America Production (MBOED) Realized Prices Liquids Gas 475 475 491 499 3Q12 4Q12 1Q13 2Q13 3Q13 462 Crude 90 89 94 94 100 (/Bbl) NGL 31 31 30 29 33 (/Bbl) Nat Gas 2.64 3.24 3.19 3.85 3.39 (/Mcf) 3Q12…
  18. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 18
    Canada Production (MBOED) Realized Prices Liquids Gas 281 283 3Q12 4Q12 1Q13 2Q13 3Q13 277 271 274 Crude 77 78 73 81 92 (/Bbl) Bitumen 57 48 39 56 76 (/Bbl) Nat Gas 2.05 2.92 2.89 3.28 2.42 (/Mcf) 3Q12 4Q12 1Q13 2Q13…
  19. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 19
    Europe Production (MBOED) Realized Prices Liquids Gas Sales 3Q12 4Q12 1Q13 2Q13 3Q13 216 207 Crude 191 110 112 114 103 112 173 176 (/Bbl) Nat Gas 8.87 10.56 10.81 10.26 10.48 (/Mcf) 3Q12 4Q12 1Q13 2Q13 3Q13 Adjusted…
  20. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 20
    Asia Pacific and Middle East Production (MBOED) Realized Prices 1 Liquids Gas Sales 322 318 324 317 306 3Q12 4Q12 1Q13 2Q13 3Q13 Crude 105 103 109 98 105 (/Bbl) Nat Gas 10.64 10.15 11.20 10.62 10.81 (/Mcf)2 3Q12 4Q12…
  21. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 21
    3Q13 Performance Company Cash Flow B End 3Q13 1.5 Debt of 21.7 B Debttocapital ratio of 30% 3.8 0.2 4.4 0.1 0.9 4.0 3.9 3Q13 Beginning CFO excl. Working Capital Proceeds from Capital Dividends Debt & Other 2 3Q13…
  22. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 22
    NonGAAP Reconciliations Reconciliation of Earnings to Adjusted Earnings ( Millions) 2012 2013 3Q 2Q 3Q Consolidated Earnings 1,798 2,050 2,480 Adjustments: Net (gain)/loss on asset sales (310) (47) (749) Tax loss carryforward…
  23. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 23
    NonGAAP Reconciliations Reconciliation of Earnings to Adjusted Earnings Reconciliation of Earnings to Adjusted Earnings ( Millions) ( Millions) 2012 2013 2012 2013 3Q 2Q 3Q 3Q 2Q 3Q Alaska Asia Pacific and Middle East Earnings 535 682…
  24. THIRD QUARTER 2013 CONFERENCE CALL – ConocoPhillips – slide 24
    NonGAAP Reconciliations Cash Margin per BOE Price Normalized Cash Margin per BOE 1 Operating Segments Operating Segments 2012 2013 2012 2013 3Q 2Q 3Q 3Q 2Q 3Q Millions, except per BOE amounts Cash Margin 3,465 3,723 3,900 Net Income…

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