Stoxx® Global 1800 Oil & Gas Index

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STOXX® GLOBAL 1800 OIL & GAS INDEX Components1 Company Supersector Country Weight (%) Exxon Mobil Corp. Oil & Gas US 14.06 Chevron Corp. Oil & Gas US 12.31 TOTAL Oil & Gas FR 7.51 BP Oil & Gas GB 5.82 ROYAL DUTCH SHELL A Oil & Gas GB 5.14 Enbridge Inc. Oil & Gas CA 4.57 ConocoPhillips Oil & Gas US 3.42 TC ENERGY Oil & Gas CA 2.97 PHILLIPS 66 Oil & Gas US 2.37 KINDER MORGAN Oil & Gas US 2.26 EOG Resources Inc. Oil & Gas US 2.20 Schlumberger Ltd. Oil & Gas US 1.98 Suncor Energy Inc. Oil & Gas CA 1.89 Valero Energy Corp. Oil & Gas US 1.87 ENI Oil & Gas IT 1.82 MARATHON PETROLEUM Oil & Gas US 1.79 Williams Cos. Oil & Gas US 1.68 Canadian Natural Resources Ltd Oil & Gas CA 1.47 VESTAS WIND SYSTEMS Oil & Gas DK 1.43 Occidental Petroleum Corp. Oil & Gas US 1.27 NESTE Oil & Gas FI 1.23 EQUINOR Oil & Gas NO 1.17 Pioneer Natural Resources Co. Oil & Gas US 1.12 ONEOK Inc. Oil & Gas US 1.05 PEMBINA PIPELINE CORP Oil & Gas CA 1.02 Woodside Petroleum Ltd. Oil & Gas AU 1.02 Hess Corp. Oil & Gas US 1.00 REPSOL Oil & Gas ES 0.97 JXTG HOLDINGS INC. Oil & Gas JP 0.86 Halliburton Co. Oil & Gas US 0.83 CONCHO RESOURCES Oil & Gas US 0.79 SNAM RETE GAS Oil & Gas IT 0.78 BAKER HUGHES Oil & Gas US 0.73 AUSTRALIAN PIPELINE Oil & Gas AU 0.57 DIAMONDBACK ENERGY Oil & Gas US 0.54 Inpex Corp. Oil & Gas JP 0.52 Santos Ltd. Oil & Gas AU 0.51 Keppel Corp. Ltd. Oil & Gas SG 0.45 GALP ENERGIA Oil & Gas PT 0.43 ENAGAS Oil & Gas ES 0.42 Idemitsu Kosan Co. Ltd. Oil & Gas JP 0.40 Apache Corp. Oil & Gas US 0.38 PKNORLEN Oil & Gas PL 0.37 Marathon Oil Corp. Oil & Gas US 0.37 Devon Energy Corp. Oil & Gas US 0.36 AMPOL Oil & Gas AU 0.35 OMV Oil & Gas AT 0.35 TARGA RESOURCES Oil & Gas US 0.35 Noble Energy Inc. Oil & Gas US 0.35 Cenovus Energy Inc. Oil & Gas CA 0.34 LUNDIN ENERGY Oil & Gas SE 0.33 National Oilwell Varco Inc. Oil & Gas US 0.33 Oil Search Ltd. Oil & Gas AU 0.26 SIEMENS GAMESA Oil & Gas ES 0.26 TECHNIPFMC Oil & Gas FR 0.25 SBM OFFSHORE Oil & Gas NL 0.18 AKER BP Oil & Gas NO 0.15 WORLEY Oil & Gas AU 0.15 WOOD GRP (JOHN) Oil & Gas GB 0.14 TGS-NOPEC GEOPHYSICAL Oil & Gas NO 0.13 BEACH ENERGY Oil & Gas AU 0.13 SUBSEA7 Oil & Gas NO 0.12 SAIPEM Oil & Gas IT 0.11 1 Based on the last periodic review implementation.

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Virtual Global Oil and Gas Conference Agenda
Virtual Global Oil and Gas Conference Agenda Tuesday, May 19, 2020 Times are listed in Central Daylight Time (CDT) (F) = Fireside Chat 8:00 a.m. Tourmaline Oil Corporation Mike Rose, President & CEO 8:50 a.m. Pembina Pipeline Corporation (F) Scott Burrows, Senior VP & CFO 9:40 a.m. Magellan Midstream Partners, L.P. (F) Aaron Milford, Chief Operating Officer 10:30 a.m. Evidence Lab Cody Rice, Solution Specialist –Energy Ben Nunnery, Engagement Manger 11:20 a.m. Rystad Energy (F) Artem Abramov, Head of Shale Research 12:10 p.m. Northern Oil & Gas Nicholas O'Grady, Chief Financial Officer Mike Kelly, EVP of Finance 1:00 p.m. Noble Energy (F) Brent Smolik, President & COO 1:50 p.m. TechnipFMC plc Doug Pferdehirt, Chairman & CEO 5:00 p.m. Conference concludes Companies hosting 1x1 meetings only: Berry Corporation, BP, Devon Energy Corporation, Eni SpA, Equinor ASA, GeoPark Limited, Magnolia Oil & Gas Corporation, Panhandle Oil and Gas Inc, Penn Virginia Corp, Schlumberger Ltd, Sundance Energy, Tellurian Inc, , Vista Oil & Gas, Western Midstream Partners. © UBS 2020. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved. All pictures or images presented herein are for illustrative purposes only. No relationship, association, sponsorship, or endorsement is suggested or implied between UBS and any landmarks or properties, o r with their respective owners, organizations, management, sponsors, investors or patrons Virtual Global Oil and Gas Conference Agenda Wednesday, May 20, 2020 Times are listed in Central Daylight Time (CDT) (F) = Fireside Chat 8:00 a.m.
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Effective Tax Rates for Oil and Gas Companies Cashing in on Special Treatment
Effective Tax Rates for Oil and Gas Companies Cashing in on Special Treatment July 2014 Table of Contents Page Results in Brief …………………………………………………………………….. 3 Discussion ……………………………………………………………………………. 4 Conclusion …………………………………………………………………………… 6 Notes …………………………………………………………………………………… 6 U.S. Federal Effective Tax Rates, 2009-2013 …………………………… 7 Foreign Effective Tax Rates, 2009-2013 ………………………………..... 8 Deferred Tax Liabilities from Property, Plant, and Equipment in 2012 and 2013……………………………………………………………………….. 9 Appendix: Company Profiles ExxonMobil Corporation ……………………………………………......... 10 ConocoPhillips …………………………………………………………………. 12 Occidental Petroleum Corporation …………………………………….. 14 Chevron Corporation ………………………………………………………… 15 Anadarko Petroleum Corporation ………………………………………. 17 Chesapeake Energy Corporation …………………………………......... 19 EOG Resources, Inc. …………………………………………………........ 20 Devon Energy Corporation …………………………………………......... 22 Apache Corporation ………………………………………………………….. 23 Pioneer Natural Resources Company ………………………………….. 25 Continental Resources, Inc. ……………………………………………… 27 Marathon Oil Corporation …………………………………………………. 28 Hess Corporation ……………………………………………………………… 29 Range Resources Corporation ……………………………………………. 30 Plains Exploration & Production Company …………………………. 31 SandRidge Energy, Inc. ……………………………………………………. 33 Whiting Petroleum Corporation …………………………………………. 34 Denbury Resources, Inc. ………………………………………………….. 35 Noble Energy, Inc. …………………………………………………………… 36 Concho Resources Inc. …………………………………………………….. 37 Company Notes …………………………………………………………………
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Conocophillips Completes Acquisition of Concho Resources
925 North Eldridge Parkway Houston, TX 77079-1175 Media Relations: 281-293-1149 www.conocophillips.com/media NEWS RELEASE Jan. 15, 2021 ConocoPhillips Completes Acquisition of Concho Resources HOUSTON – ConocoPhillips (NYSE: COP) today announced that it has completed its acquisition of Concho Resources (“Concho”) (NYSE: CXO) following approval by shareholders of both companies. “We appreciate the strong support for this transaction from the shareholders of both companies, which we view as further affirmation of the significant benefits it will deliver,” said Ryan Lance, ConocoPhillips chairman and chief executive officer. “This acquisition results in the combination of two premier companies that can lead the structural change for our vital industry that’s critical to investors. We expect the company to deliver differential performance on three key mandates: providing affordable energy to the world, generating superior returns on and of capital and demonstrating ESG leadership.” Lance added, “I also welcome Tim Leach to ConocoPhillips’ board of directors and executive leadership team. Tim and his organization built a best-in-class Permian company and we both look forward to creating significant value from this transaction. Thanks to the considerable efforts of our transition teams over these past few months, we’re off to a fast start toward seamlessly integrating our two companies and building momentum as a sector leader.” ConocoPhillips and Concho will each file the vote results for their respective special shareholder meetings on a Form 8-K with the U.S. Securities and Exchange Commission. In accordance with the terms of the merger agreement, each share of Concho common stock was converted into the right to receive 1.46 shares of ConocoPhillips common stock at the effective time of the merger.
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Permian Basin
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Conocophillips Announces Significant Oil Discovery in the Norwegian Sea
925 North Eldridge Parkway Houston, TX 77079 Media Relations: 281-293-1149 www.conocophillips.com/news-media NEWS RELEASE Dec. 22, 2020 ConocoPhillips Announces Significant Oil Discovery in the Norwegian Sea HOUSTON – ConocoPhillips (NYSE: COP) today announced a new oil discovery in production license 891 on the Slagugle prospect located 14 miles north-northeast of the Heidrun Field in the Norwegian Sea. ConocoPhillips Skandinavia AS is operator of the license with 80 percent working interest. Pandion Energy AS is license partner with 20 percent working interest. Preliminary estimates place the size of the discovery between 75 million and 200 million barrels of recoverable oil equivalent. Extensive data acquisition and sampling has been carried out in the discovery well 6507/5-10, and future appraisal will be conducted to determine potential flow rates, the reservoir’s ultimate resource recovery and potential development plan. “This discovery marks our fourth successful exploration well on the Norwegian Continental Shelf in the last 16 months,” said Matt Fox, executive vice president and chief operating officer. “All four discoveries have been made in well-documented parts of the North Sea and the Norwegian Sea and offer very low cost of supply resource additions that can extend our more than 50-year legacy in Norway.” The discovery well was drilled in 1,165 feet of water to a total depth of 7,149 feet by the Leiv Eiriksson drilling rig. --- # # # --- About ConocoPhillips Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 15 countries, $63 billion of total assets, and approximately 9,800 employees at Sept. 30, 2020.
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Large Integrated Oil and Gas Producers Provide Compelling Value
Large integrated oil and gas producers provide compelling value at current energy prices Capital discipline driving sustainable high dividends with positive free cashflow and reserve growth Philip Higson Marius Mueller October 25th 2019 Large integrated oil and gas producers provide compelling value at current energy prices New oil price equilibrium at 50% of 2014 levels has reset management strategies and oil majors now have attractive investment characteristics after 5 years of capex adjustments and severe sector underperformance. Over the same time period, shale output had an unprecedented boom funded by bond issuance. Capital discipline enforced by bond holders has marked the top of supply growth in 2018 and forward oil and gas hedging by shale operators suggests shale output could contract within 18 months. Supply constraint has been driven by an allergic reaction to excessive production coupled with negative free cash-flow by small and medium operators. There is now some likelihood of an offset if energy demand weakness is triggered by a global slowdown. Capital discipline is also driving oil majors to have a more shareholder friendly approach with high and growing dividends, sustainable payout ratios and positive reserve growth whilst generating positive free cash-flow. Energy weakest performing sector in 5 out of last 6 years - Oil price reset from $100 to $50 per barrel starting mid 2014 on shale boom and OPEC breakdown - Growth of renewables and alternative energy sources makes investors question 20 year cash-flow models - Pension funds start underweighting conventional energy on ESG grounds - Oil price fell 25% in past 12 months on global growth slowdown worries impacting 2019 results Valuations now compelling at current energy price on basis of cash-flow per share and dividend per share - Capital discipline of larger players positions producers to grow reserves while maintaining a sustainable FCF outcome - Return to shareholders with yield of 4.9% with 67% payout ratios and 6% dividend growth p.a.
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Concho Resources Inc. and Frontier Midstream Solutions Announce Midstream Joint Venture
NEWS RELEASE Concho Resources Inc. and Frontier Midstream Solutions Announce Midstream Joint Venture 4/15/2019 Joint Venture to Build Beta Crude Connector System in Midland Basin MIDLAND, Texas--(BUSINESS WIRE)-- Concho Resources Inc. (NYSE: CXO) (“Concho”) and Frontier Midstream Solutions IV, LLC (“Frontier”) announced today that Concho and Frontier have executed an agreement to create Beta Crude Connector, LLC (“BCC”). Concho and Frontier will each own a 50% equity interest in BCC, with Frontier serving as operator. BCC will build and provide crude oil gathering, transportation and storage services in the Northern Midland Basin, supporting continued oil production growth in the region. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190415005230/en/ The new gathering and transportation system will consist of an approximately 100-mile gathering system, 250,000 barrels of crude oil storage facilities as well as truck terminals. The pipeline system will have the initial capacity to deliver 150,000 barrels per day of crude oil to multiple delivery points, accessing local reneries and connecting to several downstream pipelines. Following an open season set for April 2019, construction will commence, targeting initial ows in mid-2019. BCC will le for FERC authority to operate as a common carrier pipeline and solicit interest from other producers and marketers for capacity on the new system. In conjunction with the joint venture agreement, Concho has agreed to enter into a long-term acreage dedication agreement with BCC. Jack Harper, President of Concho, commented, “We are excited to partner again with Frontier in the development of the Beta Crude Connector.
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