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PETER L. CELLA, CEO CHEVRON PHILLIPS CHEMICAL COMPANY LLC DECEMBER 14, 2011
Olefin Investments Focused on the Middle East and China Since 2005
Net Capacity Addition 2005-10
16,000 14,000 12,000
KTons/A
Middle East
China
Other
Europe
Amercias
Source: CMAI
More Than 50% of North America Drilling Rigs Use Horizontal Technologies on Shale Plays
2,500
2,000
NA Active Drilling Rig Count
1,500
1,000
500
Directional
Horizontal
Vertical
Source: Baker Hughes
7
50 40 30 20 10 0
138%
2000
X
1st Quarter 2007 2011 YTD
1000 0
1st Quarter 2007 2011 YTD
410%
2011 YTD
Rig Additions Focus on Liquids-Rich Gas and Oil Shale Plays (Active Rig Additions Since May 2009 Lows)
BAKKEN 1 126
3 -5
-3
16 10
MARCELLUS
-2 21
ANADARKO 153
1,141
EAGLE FORD
Liquids-Rich Formations Enjoy Much Lower Price Needed for Associated Gas to Earn Cost of Capital
Bakken
$0.00 Pinedale $2.52 Piceance San Juan PRB $4.32 Marcellus $2.01 Cana Woodford $5.13 $0.00 $0.00 Granite Wash Barnett Woodford $3.97 $3.79 $0.00 Eagle Ford $0.00 $3.79 Fayetteville $3.25
$0.00
$4.16
Permian
Haynesville
10
Source: Bentek
11
NE Asia
$ / Ton
US Propane
600
SE Asia
US Propane W. Europe
NE Asia
50,000
75,000
100,000
125,000
150,000
Source: CMAI
12
North America midstream companies have announced investments of >$15B to build pipelines and fractionation capacity Pipeline capacity increasing by a factor of 3 Fractionation capacity increasing by a factor of 2 American Chemistry Council economic analysis of ethane supply growth impact on United States $132B in economic output $4.4B in tax revenue 17,000 new chemical industry jobs 395,000 new jobs outside chemical industry Chevron Phillips Chemical announced a world scale cracker and derivative study
13
Legend
Assessed basins with resource estimate Assessed basins without resource estimate Countries within scope of report Countries outside scope of report
14
50-75 Crackers
2025
15
Shukran
THANK YOU