Conocophillips · NYSE:COP
Conocophillips — Q2 2021 Earnings Presentation
8 slides from Conocophillips's earnings presentation, August 2021
Slide 1: ConocoPhillips 2Q21 Earnings Conference Call
ConocoPhillips 2Q21 Earnings Conference Call IES aieuei 2. 2uei
Slide 2: Cautionary Statement
Cautionary Statement This presentation contains forward-looking statements as defined under the federal securities laws. Forward-looking statements relate to future events and anticipated results of operations, business strategies, and other aspects of our operations or operating results. Words and
Slide 3: 2Q21 Earnings Summary
2Q21 Earnings Summary ADJUSTED EARNINGS (S$ MILLIONS) 1,716 902 (994) 2Q20 1Q21 2Q21 ADJUSTED EPS (8) ($0.92) $0.69 $1.27 AVERAGE REALIZED $23.09 $45.36 $50.03 PRICE ($/BOE) Adjusted earnings and adjusted EPS are non-GAAP measures. Definitions and reconciliations are available on our website OVERVIE
Slide 4: 2Q21 Cash Flow Summary
2Q21 Cash Flow Summary $ BILLIONS 2Q21 MARKER PRICES = Brent $68,.83/BBL = WTI$66.07/BBL = Henry Hub $2.83/MMBTU 0.2 1.3 4.0 Oz a — fd 1.2 INCLUDES: pean DIVIDENDS 0.6 Cenovus Energy REPURCHASES 0.6 shares Nn $2.8B 2Q21 BEGINNING CASH & CFO? TOTAL WORKING DISPOSITION CAPITAL EXPENDITURES & DIVIDENDS
Slide 5: 1H21 Cash Flow Summary
1H21 Cash Flow Summary $ BILLIONS 1H21 MARKER PRICES = Brent $64.86/BBL = WTI$61.96/BBL 35% CFO? = Henry Hub $2.77/MMBTU ex 0.2 0.2 2.5 RETURNED INCLUDES: — ~$0.28 for sale 2.2 pa ° samara = — ~$3.7B FREE CASH FLOW INCLUDES IMPACT OF ~$1.0B OF CASH OUTFLOWS FROM ONE-TIME ITEMS IN CONNECTION WITH THE
Slide 6: Guidance
2021 Guidance GUIDANCE > OF AUG 3, 2¢ )21) FULL-YEAR 1.5 MMBOED 3Q 2021 PRODUCTION 1.48 — 1.52 MMBOED FULL-YEAR 2021 ADJUSTED OPERATING COSTS $6.1B FULL-YEAR 2021 CAPITAL EXPENDITURES $5.3B FULL-YEAR 2021 DD&A $7.4B $1.0B Guidance exc ms. Production exclud nd assumes previously announced disp Adjust
Slide 7: Annualized Cash Flow Sensitivities
2021 Annualized Cash Flow Sensitivities EQUITY AFFILIATES* CONSOLIDATED OPERATIONS (APPLIES FOR BRENT PRICE RANGE (APPLIES FOR BRENT PRICE RANGE OF $45-70/BBL) OF $45-70/BBL) CRUDE . op ec Sa F - t ra) = Brent/ANS: ~$125-135MM for $1/BBL change Expect distributions from all equity affiliates at >$45
Slide 8: Annualized Net Income Sensitivities ($45-70/BBL WTI)
2021 Annualized Net Income Sensitivities ($45-70/BBL WTI) = CRUDE : 4) | = Brent/ANS: ~$125-135MM for $1/BBL change = WTI: ~$75-85MM for $1/BBL change = WCS: ~$15-20MM for $1/BBL change - Does not incorporate contingent payment of CAS6MM quarterly for every CAS1 WCS price above CA$52/BBL! NORTH AMER