Conocophillips · NYSE:COP
Conocophillips — Q2 2019 Earnings Presentation
15 slides from Conocophillips's earnings presentation, Jul 30, 2019
Slide 1: 2Q19 Earnings Conference Call
ConocoPhillips 2Q19 Earnings Conference Call July 30, 2019
Slide 2: Forward-looking statements
The following presentation includes forward-looking statements. These statements relate to future events, such as anticipated revenues, earnings, business strategies, competitive position or other aspects of our operations, operating results or the industries or markets in which we operate or partic
Slide 3: Don Wallette, EVP and Chief Financial Officer
ConocoPhillips DON WALLETTE EVP and Chief Financial Officer
Slide 4: 2Q19 Summary: Consistent, Strong Performance Across Cycles
ConocoPhillips 2Q19 Summary: Consistent, Strong Performance Across Cycles Financial Operational Strategic » $1.1B adjusted earnings; $1.01 >» 2Q production of 1,290 MBOED » Increased 2019 planned buybacks adjusted EPS to $3.5B » Successfully completed 2Q » Generated $3.4B in CFO! and turnarounds » R
Slide 5: 2Q19 Cash Flow Summary: Strong FCF with Prudent Allocation
2Q19 Cash Flow Summary: Strong FCF with Prudent Allocation ConocoPhillips S$ Billions 2Q19 Marker Prices * Brent $68.82/BBL * — WTIS$59.80/BBL Includes: * Henry Hub $2.64/MMBTU ~$0.3B APLNG distribution Iec settlement Includes~$0.38 for acquisitions ee 17 0.3 ouybocks $1.7B FREE CASH FLOW 47% cro? ~
Slide 6: Matt Fox, EVP and Chief Operating Officer
ConocoPhillips MATT FOX EVP and Chief Operating Officer
Slide 7: YTD 2019 Operational Update
YTD 2019 Operational Update Alaska Encouraging Willow & Narwhal results; Nuna acreage acquisition pending; 2Q / 3Q turnarounds Canada Completed Surmont turnaround; Montney 14-well pad and infrastructure on track for 4Q startup United Kingdom Disposition on track for 2H19 close; 2Q / 3Q turnarounds |
Slide 8: 2019 Operating Plan Sets Up Strong Multi-Year Outlook
2019 Operating Plan Sets Up Strong Multi-Year Outlook ConocoPhillips PRODUCTION (MBOED) » 2019 operating plan capital guidance of $6.3B 1,310 - 1,340 » Additional exploration and appraisal activityin Alaska 1,267 > Half-year rig increase in Eagle Ford Acq. & Disp. » Excludes completed and announced
Slide 9: Questions & Answers
ConocoPhillips Questions & Answers
Slide 10: Appendix
Appendix
Slide 11: 2Q19 Earnings Summary
2Q19 Earnings Summary Adjusted Earnings ($ Millions) 2018 1Q19 2019 Adjusted EPS ($) $1.09 $1.00 $1.01 Average Realized $54.32 $50.59 $50.50 Price ($/BOE) ConocoPhillips Highlights Sequential adjusted earnings were impacted by lower LNG and gas prices and lower volumes, largely offset by higher crud
Slide 12: 1H19 Company Cash Flow
1H19 Company Cash Flow S$ Billions 1H19 Marker Prices Includes: * Brent $66.01/BBL ~$0.4B APLNG * WTI $57.33/BBL distribution Includes . Henry Hub $2.90/MMBTU ~$0.2B PDVSA ~$0.1B for ICC settlement acquisitions Ln 0-6 a | Higher buybacks 0.1 $3.0B FREE CASH FLOW 42% cro2 NLT NS GENERATED YEAR-TO-DAT
Slide 13: 2019 Guidance
2019 Guidance ConocoPhillips (as of July 30, 2019) 1,310- 1,340 MBOED 1,290- 1,330 MBOED $6.1B $6.3B $6.1B $1.0B $0.2B 13
Slide 14: 2019 Annualized Net Income Sensitivities
2019 Annualized Net Income Sensitivities * Crude: * Brent/ANS: ~$155-175MM for $1/BBL change * WTI: ~$30-40MM for $1/BBL change * WCS: ~$10-15MM for $1/BBL change * Does not incorporate contingent payment of CAS6MM quarterly for every CAS1 WCS price above CA$52/BBL $45-S75/BBL + North American NGL w
Slide 15: 2019 Annualized Cash Flow Sensitivities
2019 Annualized Cash Flow Sensitivities ConocoPhillips Consolidated Operations Equity Affiliates? ($45-$75/BBL WTI) ($45-$75/BBL Brent) * Crude * Expect distributions from all equity affiliates at * Brent/ANS: ~$155-165MM for $1/BBL change >$45/BBL Brent * WTI: ~$40-50MM for $1/BBL change * Brent: ~