Skip to main content UBSENERGYCONFERENCE – ConocoPhillips Investor Presentation | Shale Experts
Loading...
Pm

UBSENERGYCONFERENCE – ConocoPhillips

ConocoPhillips · May 24, 2011 · 29 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. UBSENERGYCONFERENCE – ConocoPhillips – slide 1
    Uniquely Positioned to Create Value Cash from Operations Strong OECDbased cash flow 16% Continued noncore asset sales OECD Pipeline of growth projects NonOECD 84% Disciplined capital investment 92 B Capital Employed…
  2. UBSENERGYCONFERENCE – ConocoPhillips – slide 2
    Strategic Objectives Improve ROCE Expand margins per BOE Maintain capital discipline Optimize portfolio Grow per share Reserves and production Earnings and cash flow Increase distributions Annual dividend increases Share…
  3. UBSENERGYCONFERENCE – ConocoPhillips – slide 3
    Key 2011 / 2012 Initiatives Disciplined 28 B capital program Additional 510 B in asset sales 10+ B in share repurchases 100%+ reserve replacement Reduced refining capacity Continued ROCE and CROCE improvement 3
  4. UBSENERGYCONFERENCE – ConocoPhillips – slide 4
    First Quarter 2011 Executing Plan Adjusted Earnings 1.82 adjusted EPS 1.7 MMBOED production 2.6 B 89% refining utilization Shareholder 4.0 B cash from operations Distributions 2.6 B excluding working capital* Return…
  5. UBSENERGYCONFERENCE – ConocoPhillips – slide 5
    Improving Return on Capital Employed % of Total Capital Employed 100% 90% 80% 52% 70% 58% 62% All Other 60% 50% 40% 26% 30% 24% 20% R&M 20% 10% 22% 18% 18% L48 & Canada Gas 0% 2009 2011E 2013E 7% ROCE 10% ROCE 15% ROCE…
  6. UBSENERGYCONFERENCE – ConocoPhillips – slide 6
    E&P Cash Margins 2010 /BOE 2011 Sensitivities 30 COP Peers Each 1/BBL increase in oil price: 25 Increases E&P NI and CF by 110 to 130 MM 20 Each 1/MMBtu increase in natural gas price: Increases E&P NI and CF by 570 to 610 MM…
  7. UBSENERGYCONFERENCE – ConocoPhillips – slide 7
    Capital Program B 16 13.5 R&M 1.2 12 14 15 8 per year E&P 12.0 12.0 10.7 4 0 2009 2010 2011E 2012E 2015E Growth driven by higherreturn projects All figures in B. Capital program by segment and by region includes 0.3B…
  8. UBSENERGYCONFERENCE – ConocoPhillips – slide 8
    Asset Disposition Program Asset Value Production Reserves 2010 7 B in proceeds: 114k/boed production, 19/boe reserves 2011 2012 E&P assets 50100 200400 Downstream assets 510 B MBOED MMBOE Other assets Potential Dispositions…
  9. UBSENERGYCONFERENCE – ConocoPhillips – slide 9
    Annual Dividend Increases COP Quarterly Dividend Growth 66 14% CAGR Quarterly dividend (cents/share) 55 47 50 Nine consecutive annual increases 41 36 Current yield = 3.6% 31 22 25 20% of operating cash flow 20…
  10. UBSENERGYCONFERENCE – ConocoPhillips – slide 10
    2011 / 2012 Cash Sources and Uses 70 B 60 50 510 28 40 Additional Share Repurchases 30 39 Additional Capex 7 2 20 11 10 10 611 0 Beginning Cash & Cash from Asset Sales Capital Program Debt Reduction Share Available Cash…
  11. UBSENERGYCONFERENCE – ConocoPhillips – slide 11
    Production per Share Growth BOE Production / Share 0.58 Nearterm production AG R C decrease offset by share 0.54 5% repurchase program 0.50 Absolute production 0.46 growth expected long term 0.42 0.38 2011E 2012E 2013E…
  12. UBSENERGYCONFERENCE – ConocoPhillips – slide 12
    Strategy Implementation LongTerm Key Metrics 2010 Position 2013 Outlook Expectation E&P 5year Reserve Replacement 111% 100%+ 100%+ E&P Production MMBOED 1.75 1.6 1.7 2 3% growth Annual E&P Production per Share1 .45 5% growth 3 5%…
  13. UBSENERGYCONFERENCE – ConocoPhillips – slide 13
    Exploration & Production Objectives Safety and operational excellence 100%+ organic reserve replacement 2 3% longterm production growth Convert 10 BBOE resources to reserves over 10 years Competitive F&D cost Highimpact…
  14. UBSENERGYCONFERENCE – ConocoPhillips – slide 14
    Global Overview Alaska North Sea Russia / Caspian 230 MBOED 320 MBOED 40 MBOED Largest oil & gas High value exploitation Large resource potential producer & major projects Canada 260 MBOED Asia Pacific Lower 48 World class SAGD1…
  15. UBSENERGYCONFERENCE – ConocoPhillips – slide 15
    Discovered Resource YE2010 Resource by Product YE2010 Resource by Location Russia Middle East Caspian & Africa Lower 48 Gas 25% Asia Pacific Non conventional Alaska North Sea LNG 8% Canada Liquids Arctic Conventional…
  16. UBSENERGYCONFERENCE – ConocoPhillips – slide 16
    2011 Capital Program Capital B Major Projects Maintenance Major projects Other Exploitation 1 Exploration & appraisal 14 12 Eagle Ford Caspian 10 1 C Malaysia MWC 8 6 Canada SAGD APLNG 4 North Sea 2 0 2009 2010…
  17. UBSENERGYCONFERENCE – ConocoPhillips – slide 17
    Proved Reserves Replacement Reserves Replacement 2011 2015 Reserve Additions 200% Russia Exploration Caspian 2010 Organic Middle East RRR = 138% & Africa 150% Lower 48 100% Asia Pacific Alaska 50% North Sea Canada…
  18. UBSENERGYCONFERENCE – ConocoPhillips – slide 18
    Production Outlook Production by Product MMBOED Sources of Growth 2.5 Liquids LNG Int'l gas N America gas Asia Pacific APLNG, Malaysia, Indonesia 2.0 North Sea Jasmine, Clair, Ekofisk, Eldfisk 1.5 Caspian 1.0 Kashagan L48…
  19. UBSENERGYCONFERENCE – ConocoPhillips – slide 19
    20112015 New Production Volumes MBOED Asset / Region 2010 Cash Margins 800 Rest of World Various Other L48 & 14 40 / BOE 600 W Canada North Sea 29 / BOE 400 SAGD 30 / BOE L48 liquids growth 31 / BOE 200 Asia Pacific 35…
  20. UBSENERGYCONFERENCE – ConocoPhillips – slide 20
    Downstream Objectives Global Refining Capacity MMBD Drive operational excellence Improve ROCE 2.7 2.4 2.2 1.9 Reduce refining capacity Maximize upstream 2010 2011E 2012E 2013E integration value Downstream ROCE Improve…
  21. UBSENERGYCONFERENCE – ConocoPhillips – slide 21
    Sources of Improved Returns ROCE Improvement Optimization initiatives Portfolio restructuring 5+% 4+% 15+% Market improvements 2+% 5% 2010 2011 Restructuring/ Market Longterm Initiatives Improvements Impacts…
  22. UBSENERGYCONFERENCE – ConocoPhillips – slide 22
    Downstream Portfolio Restructuring Top Remain integrated Create a midteens return business Strategic Fit Middle Reduce 500 MBD capacity Screening criteria Bottom Upstream integration Financial performance Competitive…
  23. UBSENERGYCONFERENCE – ConocoPhillips – slide 23
    Delivering Shareholder Value 100%+ reserves replacement Strong OECDbased cash flow Continued asset sales Production/share growth Pipeline of growth projects Improved returns Disciplined capital investment EPS/CFPS growth…
  24. UBSENERGYCONFERENCE – ConocoPhillips – slide 24
    UBS Energy Conference APPENDIX May 24, 2011 Barton Creek, TX
  25. UBSENERGYCONFERENCE – ConocoPhillips – slide 25
    2011 Sensitivities MM 1/BBL Crude Worldwide E&P 110 130 Worldwide R&M (fixed & other coproducts) (20) Net Crude Impact 90 115 1/MMBtu Natural Gas Worldwide E&P 570 610 Worldwide R&M (utilities) (100) Net Gas Impact 470 510…
  26. UBSENERGYCONFERENCE – ConocoPhillips – slide 26
    COP NonGAAP Reconciliations CROCE ROCE 2010 2009 1Q11 Numerator (MM) Numerator (MM) EBIDA 1 21,248 Net income 4,492 3,042 LUKOIL Undistributed Equity Earnings (1,025) After-tax interest expense 838 170 non-core earnings impacts (2,533)…
  27. UBSENERGYCONFERENCE – ConocoPhillips – slide 27
    COP NonGAAP Reconciliations Reconciliation of Earnings to Adjusted Earnings R&M - ROCE Millions of dollars except as indicated 2010 1st Quarter Numerator (MM) 2011 ConocoPhillips Net income 192 Earnings 3,028 After-tax interest…
  28. UBSENERGYCONFERENCE – ConocoPhillips – slide 28
    COP NonGAAP Reconciliations 5 - Year 2010 2006-2010 1 GAAP E&P Net Income - MM 9,198 13,786 GAAP E&P Net Income1 - / BOE 14.38 4.09 non-core earnings impacts - MM (gains) and losses on asset dispositions (3,151) (4,361) asset…
  29. UBSENERGYCONFERENCE – ConocoPhillips – slide 29
    COP NonGAAP Reconciliations 2 Lower 48 Asia Pacific 2010 2010 GAAP CFOA - MM 3,198 GAAP CFOA - MM 2,656 GAAP CFOA - / BOE 19.82 GAAP CFOA - / BOE 38.61 excluded GAAP items - MM excluded GAAP items - MM asset impairments (19) asset…

From the store

Browse maps, data & reports in the Shale Experts store