First Quarter 2013 Earnings Call
David Rosenthal Vice President Investor Relations & Secretary April 25, 2013
First Quarter 2013 Earnings Call David Rosenthal Vice President - - PowerPoint PPT Presentation
First Quarter 2013 Earnings Call David Rosenthal Vice President Investor Relations & Secretary April 25, 2013 Cautionary Statement Forward-Looking Statements. Outlooks, forecasts, estimates, targets, business plans, and other statements of
David Rosenthal Vice President Investor Relations & Secretary April 25, 2013
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Forward-Looking Statements. Outlooks, forecasts, estimates, targets, business plans, and other statements of future events or conditions in this presentation or the subsequent discussion period are forward-looking statements. Actual future results, including financial and operating performance; demand growth and mix; ExxonMobil’s production growth and mix; the amount and mix of capital expenditures; future distributions; resource additions and recoveries; finding and development costs; project plans, timing, costs, and capacities; drilling programs; product sales and mix; corporate and financing expenses; and the impact of technology could differ materially due to a number of factors. These include changes in oil or gas prices or other market conditions affecting the oil, gas, and petrochemical industries; reservoir performance; the outcome of exploration; timely completion of development projects; war and other political or security disturbances; changes in law or government regulation, including tax and environmental regulations; the outcome of commercial negotiations; the actions of competitors and customers; unexpected technological developments; the occurrence and duration of economic recessions; unforeseen technical difficulties; and other factors discussed here and under the heading "Factors Affecting Future Results" in the Investors section of our Web site at exxonmobil.com. See also Item 1A of ExxonMobil’s 2012 Form 10-K. Forward-looking statements are based on management’s knowledge and reasonable expectations on the date hereof, and we assume no duty to update these statements as of any future date. Frequently Used Terms. References to barrels of oil or bitumen and similar terms include quantities of oil and gas that are not yet classified as proved reserves under SEC definitions but that we believe will likely be developed and moved into the proved reserves category in the future. For definitions and more information regarding resources, reserves, return on average capital employed, cash flow from operations and asset sales, and other terms used in this presentation, including information required by SEC Regulation G, see the "Frequently Used Terms" posted on the Investors section of our Web
The term “project” as used in this presentation does not necessarily have the same meaning as under SEC Rule 13q-1 relating to government payment reporting. For example, a single project for purposes of the rule may encompass numerous properties, agreements, investments, developments, phases, work efforts, activities and components, each of which we may also informally describe herein as a “project.”
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Earnings 9.5 Earnings Per Share – Diluted (dollars) 2.12 Shareholder Distributions 7.6 CAPEX 11.8 Cash Flow from Ops and Asset Sales* 14.0 Cash 6.6 Debt 13.4
Billions of dollars unless specified otherwise Note: cash includes restricted cash of $376M. * Includes $0.4B associated with asset sales.
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Note: beginning and ending balances include restricted cash of $341M and $376M respectively.
Beginning Cash 9.9 Earnings 9.5 Depreciation 4.1 Working Capital / Other 0.0 Proceeds Associated with Asset Sales 0.4 Additions to PP&E (7.5) Shareholder Distributions (7.6) Additional Financing / Investing (2.2) Ending Cash 6.6
Billions of dollars unless specified otherwise
14.0
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1Q12 U/S D/S Chem C&F 1Q13
9,450 (765) (41) 436 420 9,500
Millions of Dollars
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4Q12 U/S D/S Chem C&F 1Q13
9,950 (725) (223) 179 319 9,500
Millions of Dollars
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Processing bitumen Expansion project 32% complete
production
On schedule and within budget
completed
Installation of the Telok A Platform
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Tangawizi-1 – significant gas discovery Zafarani-2 – successful appraisal well Additional drilling in 2013
Phobos - encouraging early results Preparing to drill Thorn prospect
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Expanded Rosneft SCA Additional 150M gross acres
New Country Entry 500K net acres offshore
Awarded high bid blocks from Western OCS Sale 229 Successful bidder in Central OCS Sale 227 Acquired Maui interest
LIBERIA SIERRA LEONE
50 KM
ExxonMobil
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Significant acreage position in liquids- rich plays
Growing production Focused development drilling activity
Growing production Encouraging results in Marietta Basin Delineating Caney Shale potential
ALBERTA BRITISH COLOMBIA
Celtic IOL / EM Canada
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1Q12 Realization Vol/Mix Other 1Q13
7,802 (230) (280) (250) 7,037
Millions of Dollars
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koebd
1Q12 Entitlements Quotas Divestments Net Growth 1Q13
4,553 11 (26) (55) 4,395
Price/Spend: +48 Net Interest: (136)
(88)
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4Q12 Realization Vol/Mix Other 1Q13
7,762 340 (80) (980) 7,037
Millions of Dollars
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4Q12 Entitlements Quotas Divestments Net Growth 1Q13 Price/Spend: (70) Net Interest: (2)
4,293 (72) (10) 184 4,395
koebd
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1Q12 Margin Vol/Mix Other 1Q13
Millions of Dollars
1,586 780 (290) (530) 1,545
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4Q12 Margin Vol/Mix Other 1Q13
Millions of Dollars
1,768 470 (430) (260) 1,545
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1Q12 Margin Vol/Mix Other 1Q13
Millions of Dollars
701 320 120 1,137
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4Q12 Margin Vol/Mix Other 1Q13
Millions of Dollars
958 80 10 90 1,137
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* Includes $0.4B associated with asset sales
strengths that create long-term shareholder value
Balanced portfolio Disciplined investing High-impact technologies Operational excellence Global integration
Billions
1Q13 Earnings $9.5 Cash Flow from Ops and Asset Sales* $14.0 Capex $11.8 Shareholder Distributions $7.6