Southwestern Energy — Merger or Acquisition (January 2024)
12 slides from Southwestern Energy's merger presentation, Jan 12, 2024
Slide 1: Accelerating America's Energy Reach – January 2024 Town Hall
Accelerating America’s Energy Reach Fueling a More Affordable, Reliable and Lower Carbon Future JANUARY 2024 – TOWN HALL
Slide 2: Additional Information and Where to Find It
Classification: DCL - Internal Accelerating America’s Energy Reach 2 ADDITIONAL INFORMATION AND WHERE TO FIND IT In connection with the proposed transaction between Chesapeake Energy Corporation (“Chesapeake”) and Southwestern Energy Comp any (“Southwestern”), Chesapeake intends to file with the U.S
Slide 3: Forward-Looking Statements
Classification: DCL - Internal Accelerating America’s Energy Reach 3 This communication contains “forward - looking statements” within the meaning of the federal securities laws. Forward - looking stat ements may be identified by words such as “anticipates,” “believes,” “cause,” “continue,” “could,”
Slide 4: Transaction Overview
Classification: DCL - Internal Accelerating America’s Energy Reach 4 Accelerating America’s Energy Reach Pro Forma Ownership ~60% / ~40% Chesapeake / Southwestern Stock - for - Stock Exchange 0.0867 shares of CHK common stock for each share of SWN common stock Combined Enterprise Value ~$24 billion
Slide 5: Premier Natural Gas Portfolio
Classification: DCL - Internal LA TX OH WV PA PA NY Clear Industrial Logic with Complementary Positions in Premium Basins Accelerating America’s Energy Reach 5 Premier Natural Gas Portfolio Note: 3 Q23 actual production for CHK and SWN from public filings; Excludes Eagle Ford CHK SWN ~ 7.9 bcfe/d >5
Slide 6: Defining NewCo's Vision and Culture
Classification: DCL - Internal NewCo 6 Defining NewCo’s Vision Accelerating America’s Energy Reach Defining NewCo’s Culture Accelerating America’s Energy Reach – Fueling a More Reliable, Affordable and Lower Carbon Future Cost Leadership Customer Relevance Marketing and Trading Market Relevance • Lo
Slide 7: Creates a Globally Relevant Natural Gas Producer
Classification: DCL - Internal Creates a Globally Relevant Natural Gas Producer 3Q23 Actual Gas Production (bcf/d) 7.9 7.7 7.1 7.0 5.7 5.0 4.9 3.1 2.9 2.3 2.3 2.1 1.8 1.7 1.6 1.4 1.4 1.4 1.1 CVX XOM CHK + SWN SHEL BP EQT EQNR TTE COP CTRA TOU AR WDS OXY EOG OVV RRC CNX ARX DVN Accelerating America’s
Slide 8: Our Competitive Challenge
Classification: DCL - Internal Accelerating America’s Energy Reach 8 Our Competitive Challenge $0.92 $2.43 $2.49 $2.57 $2.59 $2.68 $2.78 $3.12 $3.23 CTRA RRC EQT AR CNX GPOR NFG CHK SWN 2024 Pre - Dividend FCF Breakevens Excluding Hedging Impacts
Slide 9: Together We Are LNG Ready
Classification: DCL - Internal Accelerating America’s Energy Reach 9 ▪ Diversified portfolio with >25 sales points ▪ Scaled assets in proximity to Gulf Coast / LNG corridor ▪ Link up to 20% of production to international markets ▪ Establishes global platform to enhance marketing and trading business
Slide 10: Strategic Roadmap to Connect Supply to Growing Markets
Classification: DCL - Internal Accelerating America’s Energy Reach 10 Strategic Roadmap to Connect Supply to Growing Markets ▪ Solidified midstream flow assurance ▪ Focused on equity gas marketing ▪ Established Be LNG Ready pathway – credit rating and production scale limit market access Setting the
Slide 11: Safety is a Continuous Journey, Not a Destination
Classification: DCL - Internal Accelerating America’s Energy Reach 11 Safety is a Continuous Journey, Not a Destination Let’s remain proactive, vigilant and committed to the highest safety standards
Slide 12: Accelerating America's Energy Reach
Accelerating America’s Energy Reach Fueling a More Affordable, Reliable and Lower Carbon Future JANUARY 2024 – TOWN HALL
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