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1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips

ConocoPhillips · Apr 23, 2012 · 22 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. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 1
    FirstQuarter Overview Adjusted Earnings 2.02 Adjusted EPS / 3.23 CFPS 2.6 B 1.64 MMBOED production Cash from Operations 91% refining utilization 4.2 B 1.9 B in share repurchases Return on Capital Employed Spinoff…
  2. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 2
    Company Adjusted Earnings 1Q12 vs. 1Q11 MM 75 66 36 2,634 2,607 1Q11 Adjusted E&P R&M Other 1Q12 Adjusted Earnings Earnings 3
  3. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 3
    E&P Production 1Q12 vs. 1Q11 MBOED 47 52 22 20 18 1,702 1,637 1Q11 Operations Peng Lai Dispositions Russia NA Gas 1Q12 4
  4. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 4
    E&P Adjusted Earnings 1Q12 vs. 1Q11 MM 156 225 3 2,197 2,131 1Q11 Adjusted Prices & Other Sales Volumes Costs & Other 1Q12 Adjusted Earnings Market Impacts Earnings Adjusted 1Q12 1Q12 vs. Earnings 1Q11 1Q12 vs.1Q11…
  5. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 5
    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 26.29 29.35 26.98 27.27 25.04 10 10 14.34 17.09 15.49 15.99 14.31 5 5 0 0 1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11…
  6. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 6
    R&M Adjusted Earnings 1Q12 vs. 1Q11 MM 48 29 37 18 480 444 1Q11 Adjusted Margins & Other Volumes Operating Other 1Q12 Adjusted Earnings Market Impacts Costs Earnings Adjusted 1Q12 vs. Realized 1Q12 vs. Earnings 1Q11…
  7. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 7
    R&M per BBL Metrics R&M Income per BBL R&M Cash Contribution per BBL / BBL / BBL 5 5 4 4 3 3 2 2 1 1 2.49 3.32 4.79 1.50 2.62 1.74 2.58 4.08 0.70 1.80 0 0 1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12 Based on…
  8. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 8
    Other Segments Adjusted Earnings 1Q12 vs. 1Q11 MM 1Q11 1Q12 218 193 73 93 (265) (304) Chemicals Midstream Corporate 9
  9. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 9
    Company Cash Flow 1Q12 B 1.1 4.4 4.2 5.8 6.1 2.7 Restricted Cash 0.1 6.4 4.2 1Q12 CFO Proceeds Capital Shareholder Other PSX Senior 1Q12 Beginning from Program Distributions Notes Ending Cash, Cash & Short-…
  10. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 10
    Capital Structure 100 40 50 80 40 30 28 69 67 66 PSX 60 24 Debt 30 30 23 22* 26 25 20 25* 40 20 10 20 10 0 0 0 '10 '11 1Q12 '10 '11 1Q12 '10 '11 1Q12 Equity B Balance Sheet DebttoCapital Debt B Ratio % *…
  11. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 11
    ROCE/CROCE Return on Capital Employed Cash Return on Capital Employed 30% 30% 25% 25% 20% 20% 15% 15% 21% 24% 24% 21% 20% 10% 10% 12% 15% 16% 13% 12% 5% 5% 0% 0% 1Q11 2Q11 3Q11 4Q11 1Q12 1Q11 2Q11 3Q11 4Q11 1Q12…
  12. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 12
    Outlook ConocoPhillips E&P Operations Exploration and major projects Phillips 66 R&M, Midstream, Chemicals Operations Major projects 13
  13. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 13
    Appendix 14
  14. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 14
    1Q12 vs. 4Q11 Total Company Adjusted Earnings (MM) E&P Adjusted Earnings (MM) 69 31 256 20 18 160 2,349 2,667 2,607 2,131 4Q11 Adjusted Earnings Prices, Margins & Other Volumes Other 1Q12 Adjusted Earnings 4Q11 Adjusted…
  15. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 15
    COP NonGAAP Reconciliations Millions of Dollars Except as Indicated 1st Quarter 2012 2011 Consolidated Earnings 2,937 3,028 Adjustments: Net gain on asset sales (987) (394) Impairments 562 - Repositioning costs 95 - Adjusted…
  16. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 16
    COP NonGAAP Reconciliations Millions of Dollars 1st Quarter 2012 2011 R&M Earnings (loss) 452 482 Adjustments: Net gain on asset sales (50) (2) Impairments 42 - Adjusted earnings 444 480 U.S. R&M Earnings 415 402 Adjustment:…
  17. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 17
    COP NonGAAP Reconciliations Millions of Dollars Except as Indicated 4th Quarter 2011 Consolidated Earnings 3,390 Adjustments: Impairments 649 Net gain on asset sales (1,526) Cancelled projects 28 Bohai Bay incidents 101…
  18. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 18
    COP NonGAAP Reconciliations 1Q11 2Q11 3Q11 4Q11 1Q12 GAAP E&P Net Income1 - MM 2,352 2,524 1,762 1,604 2,548 GAAP E&P Net Income1 - / BOE 15.35 16.91 12.45 10.92 17.10 non-core earnings impacts - MM (gains) and losses on asset…
  19. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 19
    COP NonGAAP Reconciliations 1Q11 2Q11 3Q11 4Q11 1Q12 GAAP R&M Net Income1 - MM 482 766 789 1,714 452 GAAP R&M Net Income1 - / BBL 1.75 2.67 2.69 5.99 1.83 non-core earnings impacts - MM (gains) and losses on asset dispositions (2)…
  20. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 20
    COP NonGAAP Reconciliations ROCE 1Q11 2Q11 3Q11 4Q11 1Q12 Numerator (MM) Net income 3,042 3,419 2,631 3,410 2,955 After-tax interest expense 170 160 153 148 136 GAAP ROCE earnings 3,212 3,579 2,784 3,558 3,091 Non-core earnings…
  21. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 21
    COP NonGAAP Reconciliations CROCE 1Q11 2Q11 3Q11 4Q11 1Q12 Numerator (MM) EBIDA1 5,282 5,654 4,653 5,477 4,929 Non-core earnings impacts (394) 1 837 (723) (330) Adjusted EBIDA 4,888 5,655 5,490 4,754 4,599 Adustment to exclude…
  22. 1ST QUARTER 2012 CONFERENCE CALL – ConocoPhillips – slide 22
    COP NonGAAP Reconciliations E&P - ROCE Chemicals - ROCE 2011 1Q12 2011 1Q12 Numerator (MM) Numerator (MM) Net income 8,303 2,563 Net income 745 218 After-tax interest expense 79 18 After-tax interest expense - - GAAP ROCE earnings…

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