BP plc · LSE:BP.
BP — Corporate Update (October 2023)
12 slides from BP's corporate update, October 2023
Slide 1: bpx energy Investor update October 2023
Investor update bpx Our strategy in action ― bpx energy Investor update October 2023
Slide 2: A top tier US E&P and material driver of value growth to 2030+
Investor update bpx Our strategy in action ― A top tier US E&P and material driver of value growth to 2030+ 2
Slide 3: What differentiates bpx
Investor update bpx Our strategy in action ― What differentiates bpx Production to 20301 mboed Nimble and innovative, Eagle Ford Permian Haynesville Actuals2 ~10% CAGR2 leveraging bp’s expertise, scale and OMS* Core positions in the best basins 2021 2022 2025 2030 Established track record Adjusted f
Slide 4: Core positions in the best basins
Investor update bpx Our strategy in action ― Core positions in the best basins WTI breakeven2 Denver 20181 2022 bpx energy headquarters PDP3 <$35 $35-45 $45-55 Resources by basin bn boe Eagle Ford Haynesville Permian ~6.3bn ~7.0bn Haynesville boe resources boe resources Permian Resource breakeven2 b
Slide 5: Best-in-class across three tier 1 basins
Investor update bpx Our strategy in action ― Best-in-class across three tier 1 basins Permian – EUR / 1,000ft Eagle Ford – EUR / 1,000ft Haynesville – EUR / 1,000ft lateral length lateral length lateral length mboe1,2 mboe1,3 bcfe1,4 200 200 2.0 150 150 1.5 100 100 1.0 50 50 0.5 0 0 0.0 bp bp bp ~70
Slide 6: Established track record
Investor update bpx Our strategy in action ― Established track record Process safety Development cost $/boe2 Exceeding plans Tier 1 Tier 2 60 Synergy target ~ 30% $350m – $400m 40 20 Synergies delivered ~15% above target 0 2019 2020 2021 2022 20231 Permian 2019 Permian 2022 1 year early (1) 1H 2023
Slide 7: Driving emissions lower
Investor update bpx Our strategy in action ― Driving emissions lower Grand Slam – electrified central processing facility bpx operated emissions Aim 1 bpx methane Aim 4 MtCO2e intensity* 2020 3 40% vs 20191 0.33% 60% vs 2020 20232 0.13% 2 bpx Permian operated flaring intensity3 20194 15.7% 1 99% sin
Slide 8: Innovation, technology and new ways of working
Investor update bpx Our strategy in action ― Innovation, technology and new ways of working… completions operations methane detection Frac design Frac operations Utilising data & algorithms RTAN NIMBUS Rate transient analytics proprietary in-house developed solution Increasing capital Liquids Oil ha
Slide 9: Delivering through the decade
Investor update bpx Our strategy in action ― Delivering through the decade Increasing liquids production Lowering unit costs Increasing capital productivity mboed1 $ per boe2 lateral length ~80% ~20% ~35% 2022 – 2030 2022 – 2030 2019 – 2025 2022 2025 2030 2022 2025 2030 2019 2023 2025 (1) Liquids pr
Slide 10: Visibility of material value growth
Investor update bpx Our strategy in action ― Visibility of material value growth Production Capital expenditure* Adjusted free cash flow*4 20301 >650 2023-30 ~$2.5bn 20301 >$4bn mboed average annual capital expenditure (average 12 – 15 rigs) +30-40% ~$2bn 3 20252 20252 2022 325 2022 $1.8bn 2022 >$1b
Slide 11: This team
Investor update bpx Our strategy in action ― Hybrid Quality Innovation model assets culture This team ……growing the value of bp 11
Slide 12: Cautionary statement
Investor update bpx Our strategy in action ― Cautionary statement In order to utilize the ‘safe harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995 (the ‘PSLRA’) and the general doctrine of cautionary statements, bp is providing the following cautionary statement