SlideShare a Scribd company logo
1 of 23
Download to read offline
El Paso Corporation




                        Brent Smolik
President, El Paso Exploration & Production

       IPAA OGIS 2008 Conference
                  October 7, 2008
Cautionary Statement Regarding
Forward-looking Statements
This presentation includes certain forward-looking statements and projections. The company has made every reasonable effort to ensure that the
information and assumptions on which these statements and projections are based are current, reasonable, and complete. However, a variety of factors
could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this presentation, including,
without limitation, changes in unaudited and/or unreviewed financial information; our ability to implement and achieve our objectives in the 2008 plan,
including earnings and cash flow targets; the effects of any changes in accounting rules and guidance; our ability to meet production volume targets in our
E&P segment; uncertainties and potential consequences associated with the outcome of governmental investigations; outcome of litigation; our ability to
obtain necessary governmental approvals for proposed pipeline projects and our ability to successfully construct and operate such projects; changes in
commodity prices and basis differentials for oil, natural gas, LNG and power and relevant basis spreads; general economic and weather conditions in
geographic regions or markets served by the company and its affiliates, or where operations of the company and its affiliates are located; the uncertainties
associated with governmental regulation; political and currency risks associated with international operations of the company and its affiliates;
competition; and other factors described in the company’s (and its affiliates’) Securities and Exchange Commission filings. While the company makes
these statements and projections in good faith, neither the company nor its management can guarantee that anticipated future results will be achieved.
Reference must be made to those filings for additional important factors that may affect actual results. The company assumes no obligation to publicly
update or revise any forward-looking statements made herein or any other forward-looking statements made by the company, whether as a result of new
information, future events, or otherwise.

Certain of the production information in this presentation include the production attributable to El Paso’s 49 percent interest in Four Star Oil & Gas
Company (“Four Star”). El Paso’s Supplemental Oil and Gas disclosures, which are included in its Annual Report on Form 10-K, reflect its proportionate
share of the proved reserves of Four Star separate from its consolidated proved reserves. In addition, the proved reserves attributable to its proportionate
share of Four Star represent estimates prepared by El Paso and not those of Four Star.

Cautionary Note to U.S. Investors—The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to
disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally
producible under existing economic and operating conditions. We use certain terms in this presentation that the SEC's guidelines strictly prohibit us from
including in filings with the SEC. U.S. Investors are urged to consider closely the disclosures regarding proved reserves in this presentation and the
disclosures contained in our Form 10-K for the year ended December 31, 2007, File No. 001-14365, available by writing; Investor Relations, El Paso
Corporation, 1001 Louisiana St., Houston, TX 77002. You can also obtain this form from the SEC by calling 1-800-SEC-0330.

Non-GAAP Financial Measures
This presentation includes certain Non-GAAP financial measures as defined in the SEC’s Regulation G. More information on these Non-GAAP financial
measures, including EBIT, cash costs, and net capital, and the required reconciliations under Regulation G, are set forth in this presentation or in the
appendix hereto. El Paso defines Resource Potential as subsurface volumes of oil and natural gas the company believes may be present and eventually
recoverable. The company utilizes a net, geologic risk mean to represent this estimated ultimate recoverable amount.




                                                                                                                                                       2
Defining Our Purpose




       El Paso Corporation provides
       natural gas and related energy
      products in a safe, efficient, and
            dependable manner




                                           3
Our Vision & Values




      the place to work
 the neighbor to have
  the company to own




                          4
El Paso Corporation




                     Pipelines                                                               E&P
         42,000 miles of interstate pipeline                                  2.8 Tcfe proven reserves*
         Best positioned—markets & supply                                     Top 10 domestic independent


                                                  Value Drivers
             10%+ EBIT growth 2008–2013                                        8%–12% production growth
                                                                               2007–2010
             $8 billion committed project
             backlog                                                           International developments
             Additional opportunities                                          Inventory expansion

*As of 12/31/07 excluding reserves related to properties divested in 2008; also includes reserves from
                                                                                                            5
 proportionate share of Four Star
Top 10 Domestic Independent
                                                                                        Nile
                                                                                        Delta
                                                                                                   Sinai
            Brazil                                                                              Gulf
                                                                                Egypt             of
                                                                                 Egypt               Suez

                    Rio de
                    Janeiro




                Brazil                                                               Egypt
 •   247 Bcfe of proved reserves                                           •   Onshore conventional
                                                                               exploration
 •   2 significant development                   Domestic
     projects                                                              •   1.2 MM acres
                                   •   Primarily coal seam and tight-gas
 •   More exploration potential                                            •   First drilling 4Q 2008
                                       programs
     with 24 prospects/leads
                                   •   Low to medium-risk repeatable
                                       plays
                                   •   97% drilling success rate
                                   •   Growing unconventional inventory
Note: Based on 2007 data                                                                               6
El Paso Exploration and Production
Company Profile


   Low-risk domestic drilling program

   Low-cost producer

   Significant non-proved inventory

   Emerging international program



                                        7
Portfolio Provides Excellent Mix of
Long-Life and High-Return Programs

                 $6                                                                                 60%
                 $5                                                                                 50%




                                                                                                               Rate of Return %
                 $4                                                                                 40%
      F&D/Mcfe




                                                                                                                    (ROR)
                 $3                                                                                 30%
                 $2                                                                                 20%
                 $1                                                                                 10%
                 $0                                                                                 0%
                      Coal Seam         Tight Gas          Texas Gulf            Offshore
                                         Arklatex            Coast

                                   F&D Costs             Rate of Return


Note: Returns and F&D exclude leasing, seismic, workover, equipment, and admin capital; assumes Plan pricing
      of $7.50/MMBtu and $70/Bbl
                                                                                                                                  8
Recent High Grading Boosts Inventory,
Lowers Unit Costs

          Bought                         Sold

  Peoples Energy                   Miscellaneous assets
  (~300 Bcfe)                      (~300 Bcfe)
    Arklatex & Texas Gulf Coast       > 50% Gulf of Mexico
    Low-cost                          High-cost
    Add net ± 450 locations           Low inventory
    10,000 net Haynesville acres




                                                          9
Tangible Results from High Grading
                                                                              $/Mcfe
                                                                  $2.01
                                    $1.92
        $1.92
          $0.33                                                    $0.54
                                     $0.42

                     $0.06                      $0.04                       $0.05
          $0.68                      $0.64                         $0.63

$1.59                     $1.50                      $1.47
          $0.85                      $0.82                         $0.79



        2Q 2007                    1Q 2008                        2Q 2008
        Direct Lifting Costs                   General & Administrative
        Taxes Other Than Production & Income   Production Taxes


               Controllable unit costs down 7% yr/yr
                                                                                    10
Significant Resource Inventory*

                                          Infill drilling (CBM, Altamont, Arklatex)
                                          Emerging shale gas plays
          Upside                          (Niobrara and Haynesville)
         Potential                        International exploration leads


         2.8 Tcfe                         6.1 Tcfe unrisked non-proved resources
        Unproved
                                          2.0 Tcfe risked unconventional and low risk
        Inventory


                                          Heavily weighted to U.S. Onshore (86%)
          2.8 Tcfe
          Proved                          869 Bcfe Proved Undeveloped Reserves
         Reserves                         R/P of 9.6


 *As of 12/31/2007 adjusted for 2008 domestic divestitures                              11
Arklatex

                              AK
                                                            Production
                                                              (MMcfe/d)
                              Vacherie Dome/       200
                                Bear Creek
                                                   150
               TX
Minden/SE                                          100
Brachfield
                                LA                  50

                                                     0
                              Holly/Bethany
                           Longstreet/Logansport         2006 2007 2008 2009 2010


     Program Statistics:                            2008 Plan:
     • 1,047 operating wells                           125 - 130 gross wells
     • 80% avg. WI                                     ~ $350 MM net capital
     • 426 PUD locations
     • 222 Bcfe PUD reserves                        Value Upside:
     • 404 non-proved locations                        Cotton Valley horizontals
     • 540 Bcfe unrisked resource potential            Haynesville Shale
     • 504 Bcfe risked resource potential              Infill potential
     • 11 R/P
                                                                                   12
Haynesville Shale Play Outline:
North Louisiana & East Texas
                                  Marion
   Upshur
                                                                                             Claiborne

                                                                              Webster
                                                    Caddo
                                                                 Bossier
                                 Harrison

     Travis Lynch #4H
            Gregg
        Completing

                                                                                          Bienville



                            Panola
                                                                           Red River
                                                               Desoto
                        Miller 10H #1
            Rusk         Completed
                                                                                   Gamble 24H
                                                                                       Drilling
        Approximately
      42,500 net acres                     Shelby
                                                                                   Natchitoches
    of Haynesville leases                     Current prospective area
                                              El Paso operated wells
                                              Horizontal wells drilled by others
                                                                                                         13
CO
Niobrara Shale
                                          VPR E-17A
                 Typical CBM
                                          1.0 MMcf/d                NM
                     well
                                 VPR D-95A             VPR A-6A
                                 1.8 MMcf/d            0.4 MMcf/d
                                                                         Niobrara Shale
                                                                         Test well locations


1,000'
                                                                     Raton Coal
                                                                     Vermejo Coal
2,000'
                                                                     Trinidad Coal

3,000'
                                                                     Pierre Shale

                        3,900'
4,000'
                                                                     Niobrara A Shale
5,000'                                                               Niobrara B Shale
                                      3,000'
         Perforations                                                    Niobrara C Shale

                                                                                               14
Down Spacing Opportunities
               Raton                        Altamont-Bluebell
                                                           WY
                                 CO
                                             UT

                                 NM



   20 miles                             20 miles


   CBM Increased Density Drilling      Increased Density Drilling
                                       – Pursuing 160-acre spacing
   – Pursuing 80-acre spacing
                                       – Hearing in September
   – Hearing held in July with state
     of New Mexico                        175–200 gross locations and
                                          >30 MMBOE risked resource
   – Would add 500 gross
                                          potential
     locations; 250 Bcfe risked
     resource potential
                                                                        15
Brazil Developments
      Camarupim Project                          Pinaúna Project
                       Gas                                       Pinaúna
                       Discovery well
    BM-ES-5 Block                                          1-BAS-64
                                                    1-BAS-74
    Petrobras: 65%
    Operator                                              1-BAS-73
    El Paso: 35%

                     4-ESS-177


            Camarupim
                                                                   Açai
                                             1-ELPS-160
                6-ESS-168
                                                          1-ELPS-170A


                                            Cacau
               4-ESS-164
                                                                           Açai
                                                                           East
                                                          2.5 km
                                                    0      1.5       2.5
      BES-100 Camarupim DOC
      Area                                        Resource Outlook
      Petrobras: 100%
                                                      Oil        Gas
  24% EP working interest               100% working interest
  35–50 MMcfe/d net peak production     15–20 MBOE/d peak production
  100–120 Bcfe net resources            59–90 MMBOE total resource potential
  First gas in 1Q 2009                  First production late 2009
  4 development wells
                                                                                  16
Egypt Position
             Nile
             Delta
                        Sinai              Gas Field
                                                                            Asset Overview:
                     Gulf
    Egypt                                  Oil Field
                       of
                                                                            • 1.18MM Acres
     Egypt                Suez             Significant recent discoveries
                                                                            • 10 prospective areas
                                                                            • 174 Bcfe net risked resource
 South Mariut—100% WI                                                         potential
               1.18 MM acres (4,785 km2)
 Area:
                                                                            • 757 Bcfe net unrisked resource
 Status:       Signed April 2007
               Phase 1, 3 year term
                                                                              potential
 Work Program: 3D seismic survey
               5 wells

                                                                  NILE      Asset Update:
                                                                            • Seismic completed in Q2
                                                               DELTA
                                            Alexandria
                                                                            • Location of first well selected
            10 prospective areas                                  PLAY
                                                                            • Rig in country
                                                                            • First well to spud Q4 2008

              WESTERN
                                                                            Other Opportunities:
                                                                            • Evaluating options to expand
                          DESERT                                              existing position
                                                         20 KMS

                                   PLAY
                                                                                                                17
Summary

  Domestic program provides predictable,
  profitable growth
  Haynesville, Niobrara and infill drilling provide
  new depth of opportunities
  Brazil development adds significant volumes
  beginning 2009
  Future exploration upside from Brazil and Egypt


                                                      18
El Paso Corporation




                        Brent Smolik
President, El Paso Exploration & Production

       IPAA OGIS 2008 Conference
                  October 7, 2008
Appendix
Disclosure of Non-GAAP
Financial Measures
The SEC’s Regulation G applies to any public disclosure or release of material information that includes a non-GAAP
financial measure. In the event of such a disclosure or release, Regulation G requires (i) the presentation of the most directly
comparable financial measure calculated and presented in accordance with GAAP and (ii) a reconciliation of the differences
between the non-GAAP financial measure presented and the most directly comparable financial measure calculated and
presented in accordance with GAAP. The required presentations and reconciliations are attached. Additional detail regarding
non-GAAP financial measures can be reviewed in El Paso’s full operating statistics, which will be posted at www.elpaso.com
in the Investors section.

El Paso uses the non-GAAP financial measure “earnings before interest expense and income taxes” or “EBIT” to assess the
operating results and effectiveness of the company and its business segments. The company defines EBIT as net income
(loss) adjusted for (i) items that do not impact its income (loss) from continuing operations, such as extraordinary items,
discontinued operations, and the impact of accounting changes; (ii) income taxes; and (iii) interest and debt expense. The
company excludes interest and debt expense so that investors may evaluate the company’s operating results without regard
to its financing methods or capital structure. El Paso’s business operations consist of both consolidated businesses as well
as investments in unconsolidated affiliates. As a result, the company believes that EBIT, which includes the results of both
these consolidated and unconsolidated operations, is useful to its investors because it allows them to evaluate more
effectively the performance of all of El Paso’s businesses and investments. Exploration and Production per-unit total cash
costs or cash operating costs equal total operating expenses less DD&A and cost of products and services divided by total
production. Net capital is the company’s proportionate share of estimated capital requirements and is useful to indicate the
amount of capital the company may spend.

El Paso believes that the non-GAAP financial measures described above are also useful to investors because these
measurements are used by many companies in the industry as a measurement of operating and financial performance and
are commonly employed by financial analysts and others to evaluate the operating and financial performance of the
company and its business segments and to compare the operating and financial performance of the company and its
business segments with the performance of other companies within the industry.

These non-GAAP financial measures may not be comparable to similarly titled measurements used by other companies and
should not be used as a substitute for net income, earnings per share or other GAAP operating measurements.



                                                                                                                            21
Reserves Pro Forma Reconciliation

                                                                  Onshore
                                                       Central      Western       TGC           GOM      Int’l   Total
    Reserves (Bcfe)1
      Ending reserves 1/1/08                             1,328          715        550            269    247     3,109
      Adjustments2                                         (58)          (40)      (93)          (118)     –      (309)
      Pro forma ending reserves 1/1/08                   1,270          675        457            151    247     2,800




1 Reserves data includes proportionate share of Four Star
2 Adjustments reflect elimination of divestiture properties and addition of Peoples for full-year 2007
                                                                                                                     22
E&P Cash Costs

                                                         2Q 2007                 1Q 2008               2Q 2008
                                                     Total Per Unit           Total Per Unit         Total Per Unit
                                                    ($ MM) ($/Mcfe)          ($ MM) ($/Mcfe)        ($ MM) ($/Mcfe)
                                                      $ 346 $ 4.84           $ 377 $       5.11     $ 374    $ 5.40
  Total operating expense

                                                       (189)     (2.64)        (212)       (2.87)    (197)    (2.84)
  Depreciation, depletion and amortization

                                                        (15)     (0.22)         (19)       (0.26)     (21)
  Transportation costs                                                                                        (0.31)

                                                          (4)    (0.06)          (5)       (0.06)     (10)
  Costs of products                                                                                           (0.15)

                                                          –          –            –           –        (7)
  Other                                                                                                       (0.09)

                                                                $ 1.92                 $   1.92              $ 2.01
       Per unit cash costs*

                                                                71,493                 73,762                69,366
  Total equivalent volumes (MMcfe)*




*Excludes volumes and costs associated with equity investment in Four Star                                            23

More Related Content

What's hot

Barclays - 2011 CEO Energy – Power Conference | Almir Barbassa - CFO and Chie...
Barclays - 2011 CEO Energy – Power Conference | Almir Barbassa - CFO and Chie...Barclays - 2011 CEO Energy – Power Conference | Almir Barbassa - CFO and Chie...
Barclays - 2011 CEO Energy – Power Conference | Almir Barbassa - CFO and Chie...Petrobras
 
Chevron Credit Suisse 2008 Offshore Technology Conference
Chevron Credit Suisse 2008 Offshore Technology Conference Chevron Credit Suisse 2008 Offshore Technology Conference
Chevron Credit Suisse 2008 Offshore Technology Conference finance1
 
Detour Gold Corporate Presentation
Detour Gold Corporate PresentationDetour Gold Corporate Presentation
Detour Gold Corporate PresentationDetourGold
 
EP09_03LehmanFoshee_FINAL(Web)
EP09_03LehmanFoshee_FINAL(Web)EP09_03LehmanFoshee_FINAL(Web)
EP09_03LehmanFoshee_FINAL(Web)finance49
 
Webcast Business Plan 2011-2015 Presentation
Webcast Business Plan 2011-2015 Presentation Webcast Business Plan 2011-2015 Presentation
Webcast Business Plan 2011-2015 Presentation Petrobras
 
Chevron Upstream & Gas
Chevron Upstream & GasChevron Upstream & Gas
Chevron Upstream & Gasfinance1
 
Press Release Business Plan 2011-2015 Presentation
Press Release Business Plan 2011-2015 PresentationPress Release Business Plan 2011-2015 Presentation
Press Release Business Plan 2011-2015 PresentationPetrobras
 
Chevron at Barclays Capital 2009 CEO Energy/Power Conference
Chevron at Barclays Capital 2009 CEO Energy/Power ConferenceChevron at Barclays Capital 2009 CEO Energy/Power Conference
Chevron at Barclays Capital 2009 CEO Energy/Power Conferenceinvestorrelation
 
Dgc 13 04_16-18_european gold forum
Dgc 13 04_16-18_european gold forumDgc 13 04_16-18_european gold forum
Dgc 13 04_16-18_european gold forumDetourGold
 
terex Baird111208
terex Baird111208terex Baird111208
terex Baird111208finance42
 
Media webcast presentation Royal Dutch Shell third quarter 2011 results
Media webcast presentation Royal Dutch Shell third quarter 2011 resultsMedia webcast presentation Royal Dutch Shell third quarter 2011 results
Media webcast presentation Royal Dutch Shell third quarter 2011 resultsShell plc
 
8º Foro Latibex - Strategic Plan and 3rd Quarter Results
8º Foro Latibex - Strategic Plan and 3rd Quarter Results8º Foro Latibex - Strategic Plan and 3rd Quarter Results
8º Foro Latibex - Strategic Plan and 3rd Quarter ResultsPetrobras
 

What's hot (16)

Barclays - 2011 CEO Energy – Power Conference | Almir Barbassa - CFO and Chie...
Barclays - 2011 CEO Energy – Power Conference | Almir Barbassa - CFO and Chie...Barclays - 2011 CEO Energy – Power Conference | Almir Barbassa - CFO and Chie...
Barclays - 2011 CEO Energy – Power Conference | Almir Barbassa - CFO and Chie...
 
Chevron Credit Suisse 2008 Offshore Technology Conference
Chevron Credit Suisse 2008 Offshore Technology Conference Chevron Credit Suisse 2008 Offshore Technology Conference
Chevron Credit Suisse 2008 Offshore Technology Conference
 
Detour Gold Corporate Presentation
Detour Gold Corporate PresentationDetour Gold Corporate Presentation
Detour Gold Corporate Presentation
 
EP09_03LehmanFoshee_FINAL(Web)
EP09_03LehmanFoshee_FINAL(Web)EP09_03LehmanFoshee_FINAL(Web)
EP09_03LehmanFoshee_FINAL(Web)
 
Webcast Business Plan 2011-2015 Presentation
Webcast Business Plan 2011-2015 Presentation Webcast Business Plan 2011-2015 Presentation
Webcast Business Plan 2011-2015 Presentation
 
PMD February
PMD FebruaryPMD February
PMD February
 
Diggers and Dealers Presentation
Diggers and Dealers PresentationDiggers and Dealers Presentation
Diggers and Dealers Presentation
 
Chevron Upstream & Gas
Chevron Upstream & GasChevron Upstream & Gas
Chevron Upstream & Gas
 
Press Release Business Plan 2011-2015 Presentation
Press Release Business Plan 2011-2015 PresentationPress Release Business Plan 2011-2015 Presentation
Press Release Business Plan 2011-2015 Presentation
 
Investor Presentation
Investor PresentationInvestor Presentation
Investor Presentation
 
Chevron at Barclays Capital 2009 CEO Energy/Power Conference
Chevron at Barclays Capital 2009 CEO Energy/Power ConferenceChevron at Barclays Capital 2009 CEO Energy/Power Conference
Chevron at Barclays Capital 2009 CEO Energy/Power Conference
 
Diggers and Dealers Presentation
Diggers and Dealers PresentationDiggers and Dealers Presentation
Diggers and Dealers Presentation
 
Dgc 13 04_16-18_european gold forum
Dgc 13 04_16-18_european gold forumDgc 13 04_16-18_european gold forum
Dgc 13 04_16-18_european gold forum
 
terex Baird111208
terex Baird111208terex Baird111208
terex Baird111208
 
Media webcast presentation Royal Dutch Shell third quarter 2011 results
Media webcast presentation Royal Dutch Shell third quarter 2011 resultsMedia webcast presentation Royal Dutch Shell third quarter 2011 results
Media webcast presentation Royal Dutch Shell third quarter 2011 results
 
8º Foro Latibex - Strategic Plan and 3rd Quarter Results
8º Foro Latibex - Strategic Plan and 3rd Quarter Results8º Foro Latibex - Strategic Plan and 3rd Quarter Results
8º Foro Latibex - Strategic Plan and 3rd Quarter Results
 

Viewers also liked

hollycorp.annualreport.2006
hollycorp.annualreport.2006hollycorp.annualreport.2006
hollycorp.annualreport.2006finance49
 
hollycorp.annualreport.2007
hollycorp.annualreport.2007hollycorp.annualreport.2007
hollycorp.annualreport.2007finance49
 
el paso PoliticalAccountability
el paso PoliticalAccountabilityel paso PoliticalAccountability
el paso PoliticalAccountabilityfinance49
 
el paso Marketing_Summary
el paso  Marketing_Summaryel paso  Marketing_Summary
el paso Marketing_Summaryfinance49
 
2Q_2008_Earnings_FINAL_(Web)
2Q_2008_Earnings_FINAL_(Web)2Q_2008_Earnings_FINAL_(Web)
2Q_2008_Earnings_FINAL_(Web)finance49
 
el paso 160DAEF8-9761-4AE9-925F-15301F29A4B9_2008_Summary_Report
el paso 160DAEF8-9761-4AE9-925F-15301F29A4B9_2008_Summary_Reportel paso 160DAEF8-9761-4AE9-925F-15301F29A4B9_2008_Summary_Report
el paso 160DAEF8-9761-4AE9-925F-15301F29A4B9_2008_Summary_Reportfinance49
 
universal helath services ar_2002
universal helath services  ar_2002universal helath services  ar_2002
universal helath services ar_2002finance49
 

Viewers also liked (7)

hollycorp.annualreport.2006
hollycorp.annualreport.2006hollycorp.annualreport.2006
hollycorp.annualreport.2006
 
hollycorp.annualreport.2007
hollycorp.annualreport.2007hollycorp.annualreport.2007
hollycorp.annualreport.2007
 
el paso PoliticalAccountability
el paso PoliticalAccountabilityel paso PoliticalAccountability
el paso PoliticalAccountability
 
el paso Marketing_Summary
el paso  Marketing_Summaryel paso  Marketing_Summary
el paso Marketing_Summary
 
2Q_2008_Earnings_FINAL_(Web)
2Q_2008_Earnings_FINAL_(Web)2Q_2008_Earnings_FINAL_(Web)
2Q_2008_Earnings_FINAL_(Web)
 
el paso 160DAEF8-9761-4AE9-925F-15301F29A4B9_2008_Summary_Report
el paso 160DAEF8-9761-4AE9-925F-15301F29A4B9_2008_Summary_Reportel paso 160DAEF8-9761-4AE9-925F-15301F29A4B9_2008_Summary_Report
el paso 160DAEF8-9761-4AE9-925F-15301F29A4B9_2008_Summary_Report
 
universal helath services ar_2002
universal helath services  ar_2002universal helath services  ar_2002
universal helath services ar_2002
 

Similar to EP_10_07Smolik_IPAAOGIS(Web)

el paso 12_03Baerg_BankofAmericaFINAL(Web)
el paso  12_03Baerg_BankofAmericaFINAL(Web)el paso  12_03Baerg_BankofAmericaFINAL(Web)
el paso 12_03Baerg_BankofAmericaFINAL(Web)finance49
 
el paso D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...
el paso  D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...el paso  D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...
el paso D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...finance49
 
el paso D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...
el paso  D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...el paso  D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...
el paso D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...finance49
 
EP09_03LehmanFoshee_FINAL(Web)
EP09_03LehmanFoshee_FINAL(Web)EP09_03LehmanFoshee_FINAL(Web)
EP09_03LehmanFoshee_FINAL(Web)finance49
 
17.11.2009 Presentation of General Manager for E&P Hugo Repsold Junior in Ba...
17.11.2009  Presentation of General Manager for E&P Hugo Repsold Junior in Ba...17.11.2009  Presentation of General Manager for E&P Hugo Repsold Junior in Ba...
17.11.2009 Presentation of General Manager for E&P Hugo Repsold Junior in Ba...Petrobras
 
el paso MerrillLynch_FINAL(Web)
el paso  MerrillLynch_FINAL(Web)el paso  MerrillLynch_FINAL(Web)
el paso MerrillLynch_FINAL(Web)finance49
 
metlife Investor Day 2008 Overview
metlife 	Investor Day 2008 Overviewmetlife 	Investor Day 2008 Overview
metlife Investor Day 2008 Overviewfinance5
 
ONEOK to Present at Bank of America Conference
 ONEOK to Present at Bank of America Conference  ONEOK to Present at Bank of America Conference
ONEOK to Present at Bank of America Conference finance20
 
2Q_2008_Earnings_FINAL_(Web)
2Q_2008_Earnings_FINAL_(Web)2Q_2008_Earnings_FINAL_(Web)
2Q_2008_Earnings_FINAL_(Web)finance49
 
public serviceenterprise group 10/08/04-82-125
public serviceenterprise group 10/08/04-82-125public serviceenterprise group 10/08/04-82-125
public serviceenterprise group 10/08/04-82-125finance20
 
public serviceenterprise group 10/08/04-82-125
public serviceenterprise group 10/08/04-82-125public serviceenterprise group 10/08/04-82-125
public serviceenterprise group 10/08/04-82-125finance20
 
EP09_18BankofAmerica
EP09_18BankofAmericaEP09_18BankofAmerica
EP09_18BankofAmericafinance49
 
EP09_18BankofAmerica
EP09_18BankofAmericaEP09_18BankofAmerica
EP09_18BankofAmericafinance49
 
ONEOK and ONEOK Partners to Present at Houston Energy Financial
 ONEOK and ONEOK Partners to Present at Houston Energy Financial  ONEOK and ONEOK Partners to Present at Houston Energy Financial
ONEOK and ONEOK Partners to Present at Houston Energy Financial finance20
 
el paso EP3Q2008EarningsFINAL(Web)
el paso  EP3Q2008EarningsFINAL(Web)el paso  EP3Q2008EarningsFINAL(Web)
el paso EP3Q2008EarningsFINAL(Web)finance49
 
el paso EP3Q2008EarningsFINAL(Web)
el paso  EP3Q2008EarningsFINAL(Web)el paso  EP3Q2008EarningsFINAL(Web)
el paso EP3Q2008EarningsFINAL(Web)finance49
 
el paso C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509
el paso  C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509el paso  C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509
el paso C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509finance49
 
el paso C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509
el paso  C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509el paso  C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509
el paso C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509finance49
 
air products & chemicals 5 December 2007 Citi Basic Materials
air products & chemicals 5 December 2007 Citi Basic Materialsair products & chemicals 5 December 2007 Citi Basic Materials
air products & chemicals 5 December 2007 Citi Basic Materialsfinance26
 

Similar to EP_10_07Smolik_IPAAOGIS(Web) (20)

el paso 12_03Baerg_BankofAmericaFINAL(Web)
el paso  12_03Baerg_BankofAmericaFINAL(Web)el paso  12_03Baerg_BankofAmericaFINAL(Web)
el paso 12_03Baerg_BankofAmericaFINAL(Web)
 
elp_0608
elp_0608elp_0608
elp_0608
 
el paso D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...
el paso  D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...el paso  D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...
el paso D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...
 
el paso D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...
el paso  D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...el paso  D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...
el paso D7A9D355-197F-480A-8FF4-86834B0DD876_EP_4Q_2008_Earnings_FINAL(Color...
 
EP09_03LehmanFoshee_FINAL(Web)
EP09_03LehmanFoshee_FINAL(Web)EP09_03LehmanFoshee_FINAL(Web)
EP09_03LehmanFoshee_FINAL(Web)
 
17.11.2009 Presentation of General Manager for E&P Hugo Repsold Junior in Ba...
17.11.2009  Presentation of General Manager for E&P Hugo Repsold Junior in Ba...17.11.2009  Presentation of General Manager for E&P Hugo Repsold Junior in Ba...
17.11.2009 Presentation of General Manager for E&P Hugo Repsold Junior in Ba...
 
el paso MerrillLynch_FINAL(Web)
el paso  MerrillLynch_FINAL(Web)el paso  MerrillLynch_FINAL(Web)
el paso MerrillLynch_FINAL(Web)
 
metlife Investor Day 2008 Overview
metlife 	Investor Day 2008 Overviewmetlife 	Investor Day 2008 Overview
metlife Investor Day 2008 Overview
 
ONEOK to Present at Bank of America Conference
 ONEOK to Present at Bank of America Conference  ONEOK to Present at Bank of America Conference
ONEOK to Present at Bank of America Conference
 
2Q_2008_Earnings_FINAL_(Web)
2Q_2008_Earnings_FINAL_(Web)2Q_2008_Earnings_FINAL_(Web)
2Q_2008_Earnings_FINAL_(Web)
 
public serviceenterprise group 10/08/04-82-125
public serviceenterprise group 10/08/04-82-125public serviceenterprise group 10/08/04-82-125
public serviceenterprise group 10/08/04-82-125
 
public serviceenterprise group 10/08/04-82-125
public serviceenterprise group 10/08/04-82-125public serviceenterprise group 10/08/04-82-125
public serviceenterprise group 10/08/04-82-125
 
EP09_18BankofAmerica
EP09_18BankofAmericaEP09_18BankofAmerica
EP09_18BankofAmerica
 
EP09_18BankofAmerica
EP09_18BankofAmericaEP09_18BankofAmerica
EP09_18BankofAmerica
 
ONEOK and ONEOK Partners to Present at Houston Energy Financial
 ONEOK and ONEOK Partners to Present at Houston Energy Financial  ONEOK and ONEOK Partners to Present at Houston Energy Financial
ONEOK and ONEOK Partners to Present at Houston Energy Financial
 
el paso EP3Q2008EarningsFINAL(Web)
el paso  EP3Q2008EarningsFINAL(Web)el paso  EP3Q2008EarningsFINAL(Web)
el paso EP3Q2008EarningsFINAL(Web)
 
el paso EP3Q2008EarningsFINAL(Web)
el paso  EP3Q2008EarningsFINAL(Web)el paso  EP3Q2008EarningsFINAL(Web)
el paso EP3Q2008EarningsFINAL(Web)
 
el paso C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509
el paso  C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509el paso  C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509
el paso C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509
 
el paso C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509
el paso  C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509el paso  C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509
el paso C0A209DE-4313-4A81-8B00-54550DEAC9E8_Barclays_Fixed_Income_032509
 
air products & chemicals 5 December 2007 Citi Basic Materials
air products & chemicals 5 December 2007 Citi Basic Materialsair products & chemicals 5 December 2007 Citi Basic Materials
air products & chemicals 5 December 2007 Citi Basic Materials
 

More from finance49

jarden 2001_ar
jarden   2001_arjarden   2001_ar
jarden 2001_arfinance49
 
jarden 2001_ar
jarden   2001_arjarden   2001_ar
jarden 2001_arfinance49
 
jarden 2002_AR
jarden   2002_ARjarden   2002_AR
jarden 2002_ARfinance49
 
jarden 2002_AR
jarden   2002_ARjarden   2002_AR
jarden 2002_ARfinance49
 
jarden 2004AR
jarden   2004ARjarden   2004AR
jarden 2004ARfinance49
 
jarden 2004AR
jarden   2004ARjarden   2004AR
jarden 2004ARfinance49
 
jarden AR2006
jarden   AR2006jarden   AR2006
jarden AR2006finance49
 
chiquita brands international annual
chiquita brands international annualchiquita brands international annual
chiquita brands international annualfinance49
 
chiquita brands international 2000annual
chiquita brands international 2000annualchiquita brands international 2000annual
chiquita brands international 2000annualfinance49
 
chiquita brands international 2001annual
chiquita brands international 2001annualchiquita brands international 2001annual
chiquita brands international 2001annualfinance49
 
chiquita brands international 2002annual
chiquita brands international 2002annualchiquita brands international 2002annual
chiquita brands international 2002annualfinance49
 
chiquita brands international 2003annual
chiquita brands international 2003annualchiquita brands international 2003annual
chiquita brands international 2003annualfinance49
 
chiquita brands international 2004annual
chiquita brands international 2004annualchiquita brands international 2004annual
chiquita brands international 2004annualfinance49
 
chiquita brands international 2005annual
chiquita brands international 2005annualchiquita brands international 2005annual
chiquita brands international 2005annualfinance49
 

More from finance49 (20)

Jah112008
Jah112008Jah112008
Jah112008
 
Jah112008
Jah112008Jah112008
Jah112008
 
jarden 2001_ar
jarden   2001_arjarden   2001_ar
jarden 2001_ar
 
jarden 2001_ar
jarden   2001_arjarden   2001_ar
jarden 2001_ar
 
jarden 2002_AR
jarden   2002_ARjarden   2002_AR
jarden 2002_AR
 
jarden 2002_AR
jarden   2002_ARjarden   2002_AR
jarden 2002_AR
 
Jarden_AR
Jarden_ARJarden_AR
Jarden_AR
 
Jarden_AR
Jarden_ARJarden_AR
Jarden_AR
 
jarden 2004AR
jarden   2004ARjarden   2004AR
jarden 2004AR
 
jarden 2004AR
jarden   2004ARjarden   2004AR
jarden 2004AR
 
jarden ar05
jarden   ar05jarden   ar05
jarden ar05
 
jarden ar05
jarden   ar05jarden   ar05
jarden ar05
 
jarden AR2006
jarden   AR2006jarden   AR2006
jarden AR2006
 
chiquita brands international annual
chiquita brands international annualchiquita brands international annual
chiquita brands international annual
 
chiquita brands international 2000annual
chiquita brands international 2000annualchiquita brands international 2000annual
chiquita brands international 2000annual
 
chiquita brands international 2001annual
chiquita brands international 2001annualchiquita brands international 2001annual
chiquita brands international 2001annual
 
chiquita brands international 2002annual
chiquita brands international 2002annualchiquita brands international 2002annual
chiquita brands international 2002annual
 
chiquita brands international 2003annual
chiquita brands international 2003annualchiquita brands international 2003annual
chiquita brands international 2003annual
 
chiquita brands international 2004annual
chiquita brands international 2004annualchiquita brands international 2004annual
chiquita brands international 2004annual
 
chiquita brands international 2005annual
chiquita brands international 2005annualchiquita brands international 2005annual
chiquita brands international 2005annual
 

Recently uploaded

Stock Market Brief Deck for 3/22/2024.pdf
Stock Market Brief Deck for 3/22/2024.pdfStock Market Brief Deck for 3/22/2024.pdf
Stock Market Brief Deck for 3/22/2024.pdfMichael Silva
 
ACADEMIC BANK OF CREDIT: A WORLDWIDE VIEWPOINT
ACADEMIC BANK OF CREDIT: A WORLDWIDE VIEWPOINTACADEMIC BANK OF CREDIT: A WORLDWIDE VIEWPOINT
ACADEMIC BANK OF CREDIT: A WORLDWIDE VIEWPOINTindexPub
 
India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023SkillCircle
 
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTES
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTESACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTES
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTESKumarJayaraman3
 
Stock Market Brief Deck for March 26.pdf
Stock Market Brief Deck for March 26.pdfStock Market Brief Deck for March 26.pdf
Stock Market Brief Deck for March 26.pdfMichael Silva
 
Hungarys economy made by Robert Miklos
Hungarys economy   made by Robert MiklosHungarys economy   made by Robert Miklos
Hungarys economy made by Robert Miklosbeduinpower135
 
What Key Factors Should Risk Officers Consider When Using Generative AI
What Key Factors Should Risk Officers Consider When Using Generative AIWhat Key Factors Should Risk Officers Consider When Using Generative AI
What Key Factors Should Risk Officers Consider When Using Generative AI360factors
 
Solution manual for Intermediate Accounting, 11th Edition by David Spiceland...
Solution manual for  Intermediate Accounting, 11th Edition by David Spiceland...Solution manual for  Intermediate Accounting, 11th Edition by David Spiceland...
Solution manual for Intermediate Accounting, 11th Edition by David Spiceland...mwangimwangi222
 
Work and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB fundingWork and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB fundingHenry Tapper
 
Introduction to Entrepreneurship and Characteristics of an Entrepreneur
Introduction to Entrepreneurship and Characteristics of an EntrepreneurIntroduction to Entrepreneurship and Characteristics of an Entrepreneur
Introduction to Entrepreneurship and Characteristics of an Entrepreneurabcisahunter
 
Contracts with Interdependent Preferences
Contracts with Interdependent PreferencesContracts with Interdependent Preferences
Contracts with Interdependent PreferencesGRAPE
 
The unequal battle of inflation and the appropriate sustainable solution | Eu...
The unequal battle of inflation and the appropriate sustainable solution | Eu...The unequal battle of inflation and the appropriate sustainable solution | Eu...
The unequal battle of inflation and the appropriate sustainable solution | Eu...Antonis Zairis
 
Monthly Market Risk Update: March 2024 [SlideShare]
Monthly Market Risk Update: March 2024 [SlideShare]Monthly Market Risk Update: March 2024 [SlideShare]
Monthly Market Risk Update: March 2024 [SlideShare]Commonwealth
 
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.KumarJayaraman3
 
20240314 Calibre March 2024 Investor Presentation (FINAL).pdf
20240314 Calibre March 2024 Investor Presentation (FINAL).pdf20240314 Calibre March 2024 Investor Presentation (FINAL).pdf
20240314 Calibre March 2024 Investor Presentation (FINAL).pdfAdnet Communications
 
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGecko
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGeckoRWA Report 2024: Rise of Real-World Assets in Crypto | CoinGecko
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGeckoCoinGecko
 

Recently uploaded (20)

Stock Market Brief Deck for 3/22/2024.pdf
Stock Market Brief Deck for 3/22/2024.pdfStock Market Brief Deck for 3/22/2024.pdf
Stock Market Brief Deck for 3/22/2024.pdf
 
ACADEMIC BANK OF CREDIT: A WORLDWIDE VIEWPOINT
ACADEMIC BANK OF CREDIT: A WORLDWIDE VIEWPOINTACADEMIC BANK OF CREDIT: A WORLDWIDE VIEWPOINT
ACADEMIC BANK OF CREDIT: A WORLDWIDE VIEWPOINT
 
Commercial Bank Economic Capsule - March 2024
Commercial Bank Economic Capsule - March 2024Commercial Bank Economic Capsule - March 2024
Commercial Bank Economic Capsule - March 2024
 
Effects & Policies Of Bank Consolidation
Effects & Policies Of Bank ConsolidationEffects & Policies Of Bank Consolidation
Effects & Policies Of Bank Consolidation
 
India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023
 
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTES
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTESACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTES
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTES
 
Stock Market Brief Deck for March 26.pdf
Stock Market Brief Deck for March 26.pdfStock Market Brief Deck for March 26.pdf
Stock Market Brief Deck for March 26.pdf
 
Hungarys economy made by Robert Miklos
Hungarys economy   made by Robert MiklosHungarys economy   made by Robert Miklos
Hungarys economy made by Robert Miklos
 
What Key Factors Should Risk Officers Consider When Using Generative AI
What Key Factors Should Risk Officers Consider When Using Generative AIWhat Key Factors Should Risk Officers Consider When Using Generative AI
What Key Factors Should Risk Officers Consider When Using Generative AI
 
Mobile Money Taxes: Knowledge, Perceptions and Politics: The Case of Ghana
Mobile Money Taxes: Knowledge, Perceptions and Politics: The Case of GhanaMobile Money Taxes: Knowledge, Perceptions and Politics: The Case of Ghana
Mobile Money Taxes: Knowledge, Perceptions and Politics: The Case of Ghana
 
Monthly Economic Monitoring of Ukraine No.230, March 2024
Monthly Economic Monitoring of Ukraine No.230, March 2024Monthly Economic Monitoring of Ukraine No.230, March 2024
Monthly Economic Monitoring of Ukraine No.230, March 2024
 
Solution manual for Intermediate Accounting, 11th Edition by David Spiceland...
Solution manual for  Intermediate Accounting, 11th Edition by David Spiceland...Solution manual for  Intermediate Accounting, 11th Edition by David Spiceland...
Solution manual for Intermediate Accounting, 11th Edition by David Spiceland...
 
Work and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB fundingWork and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB funding
 
Introduction to Entrepreneurship and Characteristics of an Entrepreneur
Introduction to Entrepreneurship and Characteristics of an EntrepreneurIntroduction to Entrepreneurship and Characteristics of an Entrepreneur
Introduction to Entrepreneurship and Characteristics of an Entrepreneur
 
Contracts with Interdependent Preferences
Contracts with Interdependent PreferencesContracts with Interdependent Preferences
Contracts with Interdependent Preferences
 
The unequal battle of inflation and the appropriate sustainable solution | Eu...
The unequal battle of inflation and the appropriate sustainable solution | Eu...The unequal battle of inflation and the appropriate sustainable solution | Eu...
The unequal battle of inflation and the appropriate sustainable solution | Eu...
 
Monthly Market Risk Update: March 2024 [SlideShare]
Monthly Market Risk Update: March 2024 [SlideShare]Monthly Market Risk Update: March 2024 [SlideShare]
Monthly Market Risk Update: March 2024 [SlideShare]
 
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
 
20240314 Calibre March 2024 Investor Presentation (FINAL).pdf
20240314 Calibre March 2024 Investor Presentation (FINAL).pdf20240314 Calibre March 2024 Investor Presentation (FINAL).pdf
20240314 Calibre March 2024 Investor Presentation (FINAL).pdf
 
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGecko
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGeckoRWA Report 2024: Rise of Real-World Assets in Crypto | CoinGecko
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGecko
 

EP_10_07Smolik_IPAAOGIS(Web)

  • 1. El Paso Corporation Brent Smolik President, El Paso Exploration & Production IPAA OGIS 2008 Conference October 7, 2008
  • 2. Cautionary Statement Regarding Forward-looking Statements This presentation includes certain forward-looking statements and projections. The company has made every reasonable effort to ensure that the information and assumptions on which these statements and projections are based are current, reasonable, and complete. However, a variety of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this presentation, including, without limitation, changes in unaudited and/or unreviewed financial information; our ability to implement and achieve our objectives in the 2008 plan, including earnings and cash flow targets; the effects of any changes in accounting rules and guidance; our ability to meet production volume targets in our E&P segment; uncertainties and potential consequences associated with the outcome of governmental investigations; outcome of litigation; our ability to obtain necessary governmental approvals for proposed pipeline projects and our ability to successfully construct and operate such projects; changes in commodity prices and basis differentials for oil, natural gas, LNG and power and relevant basis spreads; general economic and weather conditions in geographic regions or markets served by the company and its affiliates, or where operations of the company and its affiliates are located; the uncertainties associated with governmental regulation; political and currency risks associated with international operations of the company and its affiliates; competition; and other factors described in the company’s (and its affiliates’) Securities and Exchange Commission filings. While the company makes these statements and projections in good faith, neither the company nor its management can guarantee that anticipated future results will be achieved. Reference must be made to those filings for additional important factors that may affect actual results. The company assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by the company, whether as a result of new information, future events, or otherwise. Certain of the production information in this presentation include the production attributable to El Paso’s 49 percent interest in Four Star Oil & Gas Company (“Four Star”). El Paso’s Supplemental Oil and Gas disclosures, which are included in its Annual Report on Form 10-K, reflect its proportionate share of the proved reserves of Four Star separate from its consolidated proved reserves. In addition, the proved reserves attributable to its proportionate share of Four Star represent estimates prepared by El Paso and not those of Four Star. Cautionary Note to U.S. Investors—The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this presentation that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosures regarding proved reserves in this presentation and the disclosures contained in our Form 10-K for the year ended December 31, 2007, File No. 001-14365, available by writing; Investor Relations, El Paso Corporation, 1001 Louisiana St., Houston, TX 77002. You can also obtain this form from the SEC by calling 1-800-SEC-0330. Non-GAAP Financial Measures This presentation includes certain Non-GAAP financial measures as defined in the SEC’s Regulation G. More information on these Non-GAAP financial measures, including EBIT, cash costs, and net capital, and the required reconciliations under Regulation G, are set forth in this presentation or in the appendix hereto. El Paso defines Resource Potential as subsurface volumes of oil and natural gas the company believes may be present and eventually recoverable. The company utilizes a net, geologic risk mean to represent this estimated ultimate recoverable amount. 2
  • 3. Defining Our Purpose El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner 3
  • 4. Our Vision & Values the place to work the neighbor to have the company to own 4
  • 5. El Paso Corporation Pipelines E&P 42,000 miles of interstate pipeline 2.8 Tcfe proven reserves* Best positioned—markets & supply Top 10 domestic independent Value Drivers 10%+ EBIT growth 2008–2013 8%–12% production growth 2007–2010 $8 billion committed project backlog International developments Additional opportunities Inventory expansion *As of 12/31/07 excluding reserves related to properties divested in 2008; also includes reserves from 5 proportionate share of Four Star
  • 6. Top 10 Domestic Independent Nile Delta Sinai Brazil Gulf Egypt of Egypt Suez Rio de Janeiro Brazil Egypt • 247 Bcfe of proved reserves • Onshore conventional exploration • 2 significant development Domestic projects • 1.2 MM acres • Primarily coal seam and tight-gas • More exploration potential • First drilling 4Q 2008 programs with 24 prospects/leads • Low to medium-risk repeatable plays • 97% drilling success rate • Growing unconventional inventory Note: Based on 2007 data 6
  • 7. El Paso Exploration and Production Company Profile Low-risk domestic drilling program Low-cost producer Significant non-proved inventory Emerging international program 7
  • 8. Portfolio Provides Excellent Mix of Long-Life and High-Return Programs $6 60% $5 50% Rate of Return % $4 40% F&D/Mcfe (ROR) $3 30% $2 20% $1 10% $0 0% Coal Seam Tight Gas Texas Gulf Offshore Arklatex Coast F&D Costs Rate of Return Note: Returns and F&D exclude leasing, seismic, workover, equipment, and admin capital; assumes Plan pricing of $7.50/MMBtu and $70/Bbl 8
  • 9. Recent High Grading Boosts Inventory, Lowers Unit Costs Bought Sold Peoples Energy Miscellaneous assets (~300 Bcfe) (~300 Bcfe) Arklatex & Texas Gulf Coast > 50% Gulf of Mexico Low-cost High-cost Add net ± 450 locations Low inventory 10,000 net Haynesville acres 9
  • 10. Tangible Results from High Grading $/Mcfe $2.01 $1.92 $1.92 $0.33 $0.54 $0.42 $0.06 $0.04 $0.05 $0.68 $0.64 $0.63 $1.59 $1.50 $1.47 $0.85 $0.82 $0.79 2Q 2007 1Q 2008 2Q 2008 Direct Lifting Costs General & Administrative Taxes Other Than Production & Income Production Taxes Controllable unit costs down 7% yr/yr 10
  • 11. Significant Resource Inventory* Infill drilling (CBM, Altamont, Arklatex) Emerging shale gas plays Upside (Niobrara and Haynesville) Potential International exploration leads 2.8 Tcfe 6.1 Tcfe unrisked non-proved resources Unproved 2.0 Tcfe risked unconventional and low risk Inventory Heavily weighted to U.S. Onshore (86%) 2.8 Tcfe Proved 869 Bcfe Proved Undeveloped Reserves Reserves R/P of 9.6 *As of 12/31/2007 adjusted for 2008 domestic divestitures 11
  • 12. Arklatex AK Production (MMcfe/d) Vacherie Dome/ 200 Bear Creek 150 TX Minden/SE 100 Brachfield LA 50 0 Holly/Bethany Longstreet/Logansport 2006 2007 2008 2009 2010 Program Statistics: 2008 Plan: • 1,047 operating wells 125 - 130 gross wells • 80% avg. WI ~ $350 MM net capital • 426 PUD locations • 222 Bcfe PUD reserves Value Upside: • 404 non-proved locations Cotton Valley horizontals • 540 Bcfe unrisked resource potential Haynesville Shale • 504 Bcfe risked resource potential Infill potential • 11 R/P 12
  • 13. Haynesville Shale Play Outline: North Louisiana & East Texas Marion Upshur Claiborne Webster Caddo Bossier Harrison Travis Lynch #4H Gregg Completing Bienville Panola Red River Desoto Miller 10H #1 Rusk Completed Gamble 24H Drilling Approximately 42,500 net acres Shelby Natchitoches of Haynesville leases Current prospective area El Paso operated wells Horizontal wells drilled by others 13
  • 14. CO Niobrara Shale VPR E-17A Typical CBM 1.0 MMcf/d NM well VPR D-95A VPR A-6A 1.8 MMcf/d 0.4 MMcf/d Niobrara Shale Test well locations 1,000' Raton Coal Vermejo Coal 2,000' Trinidad Coal 3,000' Pierre Shale 3,900' 4,000' Niobrara A Shale 5,000' Niobrara B Shale 3,000' Perforations Niobrara C Shale 14
  • 15. Down Spacing Opportunities Raton Altamont-Bluebell WY CO UT NM 20 miles 20 miles CBM Increased Density Drilling Increased Density Drilling – Pursuing 160-acre spacing – Pursuing 80-acre spacing – Hearing in September – Hearing held in July with state of New Mexico 175–200 gross locations and >30 MMBOE risked resource – Would add 500 gross potential locations; 250 Bcfe risked resource potential 15
  • 16. Brazil Developments Camarupim Project Pinaúna Project Gas Pinaúna Discovery well BM-ES-5 Block 1-BAS-64 1-BAS-74 Petrobras: 65% Operator 1-BAS-73 El Paso: 35% 4-ESS-177 Camarupim Açai 1-ELPS-160 6-ESS-168 1-ELPS-170A Cacau 4-ESS-164 Açai East 2.5 km 0 1.5 2.5 BES-100 Camarupim DOC Area Resource Outlook Petrobras: 100% Oil Gas 24% EP working interest 100% working interest 35–50 MMcfe/d net peak production 15–20 MBOE/d peak production 100–120 Bcfe net resources 59–90 MMBOE total resource potential First gas in 1Q 2009 First production late 2009 4 development wells 16
  • 17. Egypt Position Nile Delta Sinai Gas Field Asset Overview: Gulf Egypt Oil Field of • 1.18MM Acres Egypt Suez Significant recent discoveries • 10 prospective areas • 174 Bcfe net risked resource South Mariut—100% WI potential 1.18 MM acres (4,785 km2) Area: • 757 Bcfe net unrisked resource Status: Signed April 2007 Phase 1, 3 year term potential Work Program: 3D seismic survey 5 wells NILE Asset Update: • Seismic completed in Q2 DELTA Alexandria • Location of first well selected 10 prospective areas PLAY • Rig in country • First well to spud Q4 2008 WESTERN Other Opportunities: • Evaluating options to expand DESERT existing position 20 KMS PLAY 17
  • 18. Summary Domestic program provides predictable, profitable growth Haynesville, Niobrara and infill drilling provide new depth of opportunities Brazil development adds significant volumes beginning 2009 Future exploration upside from Brazil and Egypt 18
  • 19. El Paso Corporation Brent Smolik President, El Paso Exploration & Production IPAA OGIS 2008 Conference October 7, 2008
  • 21. Disclosure of Non-GAAP Financial Measures The SEC’s Regulation G applies to any public disclosure or release of material information that includes a non-GAAP financial measure. In the event of such a disclosure or release, Regulation G requires (i) the presentation of the most directly comparable financial measure calculated and presented in accordance with GAAP and (ii) a reconciliation of the differences between the non-GAAP financial measure presented and the most directly comparable financial measure calculated and presented in accordance with GAAP. The required presentations and reconciliations are attached. Additional detail regarding non-GAAP financial measures can be reviewed in El Paso’s full operating statistics, which will be posted at www.elpaso.com in the Investors section. El Paso uses the non-GAAP financial measure “earnings before interest expense and income taxes” or “EBIT” to assess the operating results and effectiveness of the company and its business segments. The company defines EBIT as net income (loss) adjusted for (i) items that do not impact its income (loss) from continuing operations, such as extraordinary items, discontinued operations, and the impact of accounting changes; (ii) income taxes; and (iii) interest and debt expense. The company excludes interest and debt expense so that investors may evaluate the company’s operating results without regard to its financing methods or capital structure. El Paso’s business operations consist of both consolidated businesses as well as investments in unconsolidated affiliates. As a result, the company believes that EBIT, which includes the results of both these consolidated and unconsolidated operations, is useful to its investors because it allows them to evaluate more effectively the performance of all of El Paso’s businesses and investments. Exploration and Production per-unit total cash costs or cash operating costs equal total operating expenses less DD&A and cost of products and services divided by total production. Net capital is the company’s proportionate share of estimated capital requirements and is useful to indicate the amount of capital the company may spend. El Paso believes that the non-GAAP financial measures described above are also useful to investors because these measurements are used by many companies in the industry as a measurement of operating and financial performance and are commonly employed by financial analysts and others to evaluate the operating and financial performance of the company and its business segments and to compare the operating and financial performance of the company and its business segments with the performance of other companies within the industry. These non-GAAP financial measures may not be comparable to similarly titled measurements used by other companies and should not be used as a substitute for net income, earnings per share or other GAAP operating measurements. 21
  • 22. Reserves Pro Forma Reconciliation Onshore Central Western TGC GOM Int’l Total Reserves (Bcfe)1 Ending reserves 1/1/08 1,328 715 550 269 247 3,109 Adjustments2 (58) (40) (93) (118) – (309) Pro forma ending reserves 1/1/08 1,270 675 457 151 247 2,800 1 Reserves data includes proportionate share of Four Star 2 Adjustments reflect elimination of divestiture properties and addition of Peoples for full-year 2007 22
  • 23. E&P Cash Costs 2Q 2007 1Q 2008 2Q 2008 Total Per Unit Total Per Unit Total Per Unit ($ MM) ($/Mcfe) ($ MM) ($/Mcfe) ($ MM) ($/Mcfe) $ 346 $ 4.84 $ 377 $ 5.11 $ 374 $ 5.40 Total operating expense (189) (2.64) (212) (2.87) (197) (2.84) Depreciation, depletion and amortization (15) (0.22) (19) (0.26) (21) Transportation costs (0.31) (4) (0.06) (5) (0.06) (10) Costs of products (0.15) – – – – (7) Other (0.09) $ 1.92 $ 1.92 $ 2.01 Per unit cash costs* 71,493 73,762 69,366 Total equivalent volumes (MMcfe)* *Excludes volumes and costs associated with equity investment in Four Star 23