Economics : Rates of Return/ IRR

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Regional Well Projected Economics 2017 capital program focusing on areas with top tier returns RockStar Wolfcamp A Sweetie Peck Lower Spraberry 120% 120% 100% 100% 80% 80% IRR 60% 60% IRR 40% 40% 20% At 45, returns 45% 20% At 45, returns 40% 0% 0% 40 45 50 55 60 40 45 50 55 60 NYMEX WTI NYMEX WTI 7,600' 10,000' 7,600' 10,000' Well Cost: 5.6MM Well Cost: 6.8MM Well Cost: 5.9MM Well Cost: 7.0MM Well Spacing: 660 Well Spacing: 660 Well Spacing: 660 Well Spacing: 660 Sand loading: 1,900 lbs/ft; Stage Spacing: 167 Sand loading: 1,900 lbs/ft; Stage Spacing: 167 Eagle Ford East 100% 80% February 2017 Eagle Ford East 60% Average IRR 35% NGLs Mt. Belvieu 40% /Gal 20% 0% 0.60 0.65 0.70 Mt. Belvieu /Gal Well Cost: 5.2MM, Lateral Length: 8,000, Well Spacing: 625, Sand Loading: 2,000 lbs/ft, Stage Spacing: 150 Note: well costs include drill, complete, and equip; sensitivities at 3.00/MMBtu NYMEX; Eagle Ford East oil flat at 50/Bbl WTI 18
SM Energy Company
March 2017

SIGNIFICANT GROWTH POTENTIAL SUPPORTED BY STRONG WELL ECONOMICS Independent Ranking of North American Light/Medium Oil Plays 2017 Drilling Program (Based on Internal Rates of Return at US 50 WTI) Supported by Quick Payouts 1st 3rd 4th 6th 10th Williston Basin: Viewfield Bakken 1 year Williston Basin: Flat Lake or less Uinta Basin: Recent horizontal wells Well Payouts Williston Basin: SE SK Conventional 1 to 2 SW Saskatchewan: Shaunavon SK Viking Viewfield Bakken Flat Lake Tower Montney Shaunavon East Pembina Cardium Permian Midland Permian Regan/Upton Karnes Trough Eagle Ford Karr Dunvegan STACK Maramec/Woodford SCOOP Woodford SE Sask Conventional Ferguson Bakken/Exshaw Gordondale Montney Fort Berthold Bakken/Three Forks years SW Saskatchewan: Viking Other: Swan Hills 2 years Williston Basin: North Dakota Flat Pricing assumption: Sourced from Scotiabank GBM September 2016 The Playbook. US 55.00 WTI / 0.75 CAD/USD fx CPG Shaunavon IRR is an average of the Upper and Lower zones 80% of 2017 drilling budget expected to payout in 2 years or less 7 FOOTNOTES INCLUDED IN THE BACK AS ENDNOTES
Crescent Point Energy Corp.
April 2017

2017 SPRABERRY/WOLFCAMP DRILLING PROGRAM Expect to place 260 horizontal wells on Pioneers Spraberry/Wolfcamp Acreage Position and 2017 Drilling Areas production during 2017 (244 net POPs) Horizontal drilling program continuing to Northern Area deliver strong returns Southern Version 3.0 completions are the standard design Wolfcamp JV Area Drilling and completion cost per well: Lateral Well Cost Expected EUR Interval Length (MM) (MMBOE) Wolfcamp B 10,000 8.5 1.5 Wolfcamp A 9,500 7.5 1.2 Lower Spraberry Shale 9,500 7.2 1.0 Forecasted horizontal production costs per well: o 4/BOE to 5/BOE (includes taxes) Expect to spend 265 MM for tank batteries/SWDs o Includes facilities in 5 new areas Plan to place 260 horizontal wells on production in 2017 (220 wells in northern area and 40 gross wells in JV area) Forecasting IRRs of 50% to 100% assuming Version 3.0 55% Wolfcamp B; 30% Wolfcamp A; 15% LSS completions and prices of 55/BBL for oil and 3/MCF Will also appraise Clearfork, Jo Mill and Wolfcamp D intervals for gas (includes 2017 tank battery/SWD costs) 14
Pioneer Natural Resources Co.
March 2017

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