ConocoPhillips · NYSE:COP
ConocoPhillips — Q1 2019 Earnings Presentation
13 slides from ConocoPhillips's earnings presentation, Apr 30, 2019
Slide 1: 1Q19 Earnings Conference Call
ConocoPhillips 1Q19 Earnings Conference Call April 30, 2019
Slide 2: Cautionary Statement
Cautionary Statement 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
Slide 3: Ryan Lance, Chairman and CEO
ConocoPhillips RYAN LANCE Chairman and CEO
Slide 4: 1Q19 Summary: Delivering on Expectations; Sticking to Plan
> 1Q19 Summary: Delivering on Expectations; Sticking to Plan ConocoPhillips Financial LN » $1.1B adjusted earnings; $1.00 adjusted EPS » Generated $2.9B CFO? in 10; $1.3B free cash flow » Returned 37% of CFO to shareholders » Ending cash? of $6.7B [> > Operational Strategic ————— » Received ICSID ru
Slide 5: Winning Value Proposition for a Cyclical Business
> Winning Value Proposition for a Cyclical Business ConocoPhillips Delivering superior returns to shareholders through cycles DISCIPLINED PRIORITIES Sustain production and pay existing dividend Grow dividend annually “A” rated balance sheet Return >30% of CFO to shareholders annually Expand CFO with
Slide 6: Appendix
Appendix
Slide 7: 1Q19 Earnings Summary
1Q19 Earnings Summary Adjusted Earnings ($ Millions) Highlights ConocoPhillips * Sequential adjusted earnings decreased primarily due to lower realized prices Segment 1Q19 Alaska 384 Lower 48 240 1Q18 4Q18 1Q19 Canada 54 Europe & North Africa 207 Adjusted EPS (S) $0.96 $1.13 $1.00 Asia Pacific & Mid
Slide 8: 1Q19 Company Cash Flow
1Q19 Company Cash Flow ConocoPhillips S$ Billions 1Q19 Marker Prices * Brent $63.20/BBL . WTI $54.87/BBL 0.1 0.1 . Henry Hub $3.15/MMBTU 1.6 0.3 $1.3B FREE CASH FLOW 37% cro? rr a A GENERATEDIN THE FIRST QUARTER RETURNED TO SHAREHOLDERS 1019 Beginning CFO Total Working Disposition Capital Dividends
Slide 9: 1Q19 and Recent Highlights
1Q19 and Recent Highlights ConocoPhillips Alaska United Kingdom Started GMT-2 construction; winter drilling completed Announced $2.7B divestiture? in aare) S Montney Began completions 14-well pad; d on wer Pac spu LA Austin Chalk Norway Ramped Aasta Hansteen to peak China Ramping Bohai Phase 3 Qatar
Slide 10: 2019 Plan on Track — Continued Strong Execution
2019 Plan on Track — Continued Strong Execution » 2019 capital, production and adjusted operating cost Production (MBOED) guidance unchanged 1,300 - 1,350 > 2Q19 production guidance of 1,240 to 1,280 MBOED ea ate >» 2Qreflects planned turnaroundsin Alaska, Canada 25 and Europe » Ongoing exploration
Slide 11: 2019 Guidance
2019 Guidance ConocoPhillips | Guidance (as of April 30, 2019) A 1,300 - 1,350 MBOED £ 1,240 —- 1,280 MBOED LTV $6.1B $6.1B Full-Year 2019 DD&A — updated guidance $6.1B $1.0B $0.2B DD&A guidance has been updated to reflect the held-for-sale impact from the U.K. divestiture agreement.
Slide 12: 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 13: 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: ~