Sustainably Growing Shareholder Value
SUPPLEMENTAL INFORMATION
Slide 24 - Upstream strategic priorities
1. Cash proceeds.
2. Net production.
3. 2025 emissions reductions plans announced in December 2020 included a 15
to 20 percent reduction in greenhouse gas intensity for upstream operations
compared to 2016 levels. This was supported by a 40 to 50 percent reduction
in corporate methane intensity, and a 35-45 percent reduction in corporate
flaring intensity. Plans covered Scope 1 and Scope 2 emissions for assets
operated by the company.
4. Emission reduction plans announced in December 2021 include a 20 to 30
percent reduction in corporate greenhouse gas intensity by 2030 compared to
2016 levels. This will be supported by a 40 to 50 percent reduction in
upstream greenhouse gas intensity, a 70 to 80 percent reduction in methane
intensity, and a 60 to 70 percent reduction in flaring intensity compared to
2016. The 2030 emission reduction plans are expected to reduce absolute
greenhouse gas emissions of the Corporation by approximately 20 percent.
Plans cover Scope 1 and Scope 2 emissions for asset operated by the
company, consistent with approved corporate plans.
5. Net zero Scope 1 and Scope 2 GHG emissions from unconventional oil and
natural gas operated production in the Permian Basin.
Slide 25 - Industry-leading investments
1. Includes projects that bring on new volumes. Breakeven based on cost-of-
supply to generate a minimum 10 percent return on a money-forward basis.
2. Emission reduction plans announced in December 2021 include a 20 to 30
percent reduction in corporate greenhouse gas intensity by 2030 compared to
2016 levels. This will be supported by a 40 to 50 percent reduction in
upstream greenhouse gas intensity, a 70 to 80 percent reduction in methane
intensity, and a 60 to 70 percent reduction in flaring intensity compared to
2016. The 2030 emission reduction plans are expected to reduce absolute
greenhouse gas emissions of the Corporation by approximately 20 percent.
Plans cover Scope 1 and Scope 2 emissions for asset operated by the
company, consistent with approved corporate plans.
Slide 27 - Delivering step-change in Permian performance
1. Spud to rig-release days.
2. Lateral feet per day of completions.
3. Drilling and completion costs per lateral foot.
4. Field operations, well work, and energy expenses per oil-equivalent barrel;
operated business only.
5. Net zero scope 1 and scope 2 GHG emissions from unconventional oil and
natural gas operated production in the Permian Basin.
Slide 28 - Growing Permian free cash
1. Potential free cash calculated based on 2021 $60/bbl Brent adjusted for
inflation. See page 85 for definition of free cash.
2. Money-forward basis.
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