2013 Annual Meeting of STOCKHOLDERS Ryan Lance, Chairman & CEO May 14, 2013
ConocoPhillips: A New Class of E&P Investment We offer the marketplace a new Class of E&P investment. Our goal is to consistently deliver strong, predictable returns to shareholders. 4
2012: ConocoPhillips First Year as an Independent E&P Strategic Operational Financial Milestones Milestones Milestones Completed separation Met volume targets Maintained strong of downstream balance sheet Exclusive focus on…
Looking Ahead: Navigating an Uncertain Environment Brent (/bbl) Wide range of views on oil prices Higher case: geopolitical supply risks; rise of global middle class Lower case: OECD economies; growth from shale plays WTI (/bbl)…
Our Strategy is Aligned with Our View of the Environment Diversification, scale and capability are a competitive advantage Disciplined investment strategy Focus on organic growth Invest in high-margin programs and projects Apply…
ConocoPhillips: Unmatched as an Independent E&P Today Production: 1,485-1,520 MBOED1 (2013e) Largest independent E&P company Liquids 26% LNG + International Gas Diverse asset base with scope and scale 19% 55% North American Gas…
What Will We Deliver Relentless focus on safety and execution Compelling dividend 3 5% production growth rate 3 5% margin growth rate Ongoing priority to improve financial returns Production and margin reflect compound…
How We Will Execute Integrated approach to optimize Safety Performance base production and deliver Total Recordable Rate 0.8 growth: Safety performance 0.6 Operations excellence Technology development and implementation 0.4…
Environmental and Social Performance Creates Value Keys to successful execution: Flawless environmental performance Dunes Sagebrush Lizard Conservation Proactive stakeholder engagement Integrated sustainable development Photo by…
A Compelling Dividend is Key to Our Value Proposition Dividend Yield1 Highest priority use of cash flow Enhances capital discipline Predictable portion of shareholder 4.4% returns Differential compared to range of peers…
Commitment to Capital Discipline and Growth Annual Capital Production MMBOED 16 B 2.0 Exploration & Exploration & Delivers 1.8 15% Appraisal 2017+ Appraisal growth 1.6 Major Projects * Major Generates Major strong 1.4 30%…
Our Commitment to Margin Improvement Five significant areas ramping up between 2012-2017 Incremental growth comes from high-margin investments Lower-risk geographies and geologies; diversified plays Production and Margin Growth1…
Focused on Continuously Improving Returns 2012 ROCE Compared to Independent E&Ps Ongoing focus on cost structure and efficiency 11% 11% Asset divestitures improve portfolio returns Short-term returns impacted by capital…
High-Quality Legacy Base Production and Capability Focused on systematic Operations Excellence programs to mitigate risk, improve production efficiency and preserve value Low declines in high-margin oil and high-liquid yield legacy…
High-Margin Worldwide Development Program Inventory Development programs will account for 600 MBOED by 2017 60% of production growth from high-impact Lower 48 programs Development Program Growth (2012-2017) MBOED 600 Other North…
High-Margin Major Growth Projects in Execution Major projects will account for 400 MBOED by 2017 Lower-risk geographies and geologies; diversified market exposure Major Projects Growth (2012-2017) MBOED 450 Oil Sands Norway 400…
Diverse Unconventional and Conventional Exploration Portfolio Chukchi Sea West Duvernay, Greenland Barents Sea & Muskwa, North Sea Montney & Canol Poland Wolfcamp, Sichuan Niobrara & Gulf of Avalon Mexico Azerbaijan…
Deepwater Gulf of Mexico: Encouraging Results with Running Room Gulf of Mexico Two significant discoveries announced Shenandoah appraisal well discovery 1,000 Garden Banks Area feet net pay Coronado wildcat discovery 400 feet net…
Substantial Progress on Portfolio High-Grading Significant Asset Dispositions Continuous process of portfolio Status Asset Proceeds enhancement Lukoil shares Syncrude Asset sale criteria Closed (2010-Q1 2013) Vietnam 20.2B…
Balance Sheet Strength Provides Flexibility 5.4 B total cash at end of Q1 2013 Year-End 2012 Debt-to-Capital Ratio 8.5 B of announced proceeds from asset sales in remainder of 2013 31% A1/A rating reflects substantial financial…
What Will We Deliver Relentless focus on safety and execution Compelling dividend 3 5% production growth rate 3 5% margin growth rate Ongoing priority to improve financial returns Production and margin reflect compound…
2013 - 2014: Significant Inflection Point Strategic Operational Financial Delivering on value Significant inflection Maintain strong proposition point balance sheet Complete announced Visible results from Demonstrate margin…
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