Conocophillips · NYSE:COP
Conocophillips — Bernstein Strategic Decisions Conference 2017
8 slides from Conocophillips's conference presentation, Jun 1, 2017
Slide 1: SPIRIT Values
SPIRIT Values smart growth superior returns
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: Strategy on a Page — Disciplined and Resilient, Yet Flexible
Strategy on a Page — Disciplined and Resilient, Yet Flexible Our goal is to deliver double-digit total returns to shareholders annually * Strong balance sheet * Cash flow allocations balanced between distributions and organic growth $50-$60/BBL Brent >$50/BBL Brent ~$50/BBL Brent + Acceleration Acti
Slide 4: Transformed for Resilience with Upside
Transformed for Resilience with Upside Downside Protection at Lower Prices * Breakeven price below $50/bbl Brent ¢ Low capital intensity ¢ Extensive low cost of supply investment portfolio * Flexibility to reduce capital run rate by ~50% * Significant balance sheet strength and capacity Significant
Slide 5: Highly Differentiated, Diverse Portfolio
Highly Differentiated, Diverse Portfolio Largest Independent E&P 14 BBOE <$50/BBL CoS? 5B Capita in 2017 Largest US independent E&P spend Canada = a oa ~~ 2 = a a fv i) pas b to) 7s) <$50/BBL Cost of Supply Resource? (Fully Burdened) 50 Average CoS? 30 20 10 @ LNG & OilSands @ Conventional @ Unconve
Slide 6: Highly Differentiated Shareholder Payout
Highly Differentiated Shareholder Payout ConocePhillips Shareholder Yield from Peers Dividend Yield + 2017 Announced Share Repurchases * Current dividend can withstand low ConocoPhillips prices, with room for annual increases ¢ Targeting annual growth in per-share dividend rate * Dividend competitiv
Slide 7: The Case For ConocoPhillips
The Case For ConocoPhillips Transformation Acceleration * Reduced breakeven price * >$16B asset sale program? from >$75/BBL to <$50/BBL funds additional debt reduction and buybacks ¢ Lowered capital intensity to stay-flat capital of <$5B * S6B share buyback program; $3B announced in 2017 * Created s
Slide 8: Q&A
ConocoPhillips — Bernstein Strategic Decisions Conference 2017 on 6ix