ConocoPhillips · NYSE:COP
ConocoPhillips — Q2 2009 Earnings Presentation
11 slides from ConocoPhillips's earnings presentation, Jul 29, 2009
Slide 1: 2nd Quarter 2009 Results
2nd Quarter 2009 Results July 29, 2009
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT FOR FOR THE THE PURPOSES PURPOSES OF OF THE THE “SAFE “SAFE HARBOR” HARBOR” PROVISIONS PROVISIONS OF OF THE THE PRIVATE PRIVATE SECURITIES SECURITIES LITIGATION LITIGATION REFORM REFORM ACT ACT OF OF 1995 1995 The following presentation includes forward-looking statements within
Slide 3: Second-Quarter Overview
Second-Quarter Overview $0.87 Earnings Per Share Earnings $1.3 B 2.31 MMBOED Production Cash From Operations 88% Refining Utilization $2.6 B Lower Operating Costs Debt-to-Cap 34% Weak Natural Gas Prices and Refining Margins Page 3
Slide 4: Total Company Earnings
Total Company Earnings 2Q09 2Q09 vs. vs. 2Q08 2Q08 $MM Major Variances Price, Margin, Other Market Impacts (5,373) Volumes 603 3,274 Operating Costs 463 5,439 716 92 59 1,298 2Q08 Upstream Downstream LUKOIL Other 2Q09 Page 4
Slide 5: Total Company Cash Flow
Total Company Cash Flow 2Q09 2Q09 $MM 985 401 2,861 2,968 697 92 802 888 2Q09 CFO excl Working Debt Capital Dividends Other 2Q09 Ending Beginning Working Capital* Increase Program Cash Balance Cash Capital* Page 5 * Cash provided by operating activities was $2,567 million in the second quarter of 20
Slide 6: Total Company Production
Total Company Production 2Q09 2Q09 vs. vs. 2Q08 2Q08 MBOED 442 30 3 93 2,314 4 1,872 1,750 2Q08 E&P Market Portfolio Planned Operations 2Q09 E&P LUKOIL 2Q09 Factors Changes Maintenance Page 6
Slide 7: E&P Earnings
E&P Earnings 2Q09 2Q09 vs. vs. 2Q08 2Q08 $MM 3,999 3,870 152 214 658 725 2Q08 Prices & Other Sales Volumes Operating Costs Other 2Q09 Market Impacts 2Q09 vs. Realized 2Q09 vs. Earnings 2Q08 2Q09 2Q08 Prices 2Q08 2Q09 2Q08 U.S. 1,852 336 (1,516) Oil $/BBL 118.01 55.63 (62.38) Non U.S. 2,147 389 (1,75
Slide 8: R&M Earnings
R&M Earnings 2Q09 2Q09 vs. vs. 2Q08 2Q08 $MM 664 664 770 (106) 268 63 (52) 151 2Q08 Margins & Other Volumes Operating Costs Other 2Q09 Market Impacts 2Q09 vs. Realized 2Q09 vs. Earnings 2Q08 2Q09 2Q08 Margins $/BBL 2Q08 2Q09 2Q08 U.S. 587 (38) (625) U.S. 10.71 5.40 (5.31) Non U.S. 77 (14) (91) Non U
Slide 9: LUKOIL Segment Earnings
LUKOIL Segment Earnings 2Q09 2Q09 vs. vs. 2Q08 2Q08 $MM 51 73 774 528 312 682 2Q08 Prices & Other True-up Basis Other 2Q09 Market Impacts Amortization Page 9
Slide 10: Other Segments
Other Other Segments Segments 2Q09 2Q09 vs. vs. 2Q08 2Q08 $MM 162 67 31 18 8 2 Corporate Midstream Chemicals Emerging Businesses (157) (186) 2Q08 2Q09 Page 10
Slide 11: Operational and Strategic Update
Operational and Strategic Update Production Volumes and Refining Utilization Outlook Cost Reduction Progress Project Updates Production ramp-ups Start up of North Belut Commissioning of San Francisco Hydrocracker Exploration Updates Browse Basin Block N Page 11