Economics : Rates of Return/ IRR

Showing 3 Results


CLR Assets Deliver Excellent Rates of Return(1) 2017 Bakken Economics STACK Over-Pressured Oil 150% 150% Target EUR: 1,700 MBOE 146% ROR Avg. Lateral: 9,800 120% 120% 90% 82% ROR 90% ROR ROR 60% 60% 30% Target EUR: 1,100 MBoe 5.4MM DUC(2) 2017 30% Avg. Lateral: 9,800 7.5MM Drilling 2017 9MM Budget 2017 0% 0% 30 40 50 60 70 40 50 60 WTI Oil Price, /BBL WTI Oil Price, /BBL 100% SCOOP Woodford Condensate 100% STACK Condensate Target EUR: 2,300 MBoe Target EUR: 2,400 MBoe Avg. Lateral: 7,500 Avg. Lateral: 9,800 80% 80% 80% ROR 60% 70% ROR 60% ROR ROR 40% 40% 20% 20% 10.3MM Budget 2017 10MM Budget 2017 0% 0% 2.50 3.00 3.50 4.00 2.50 3.00 3.50 4.00 Gas Price, /MCF Gas Price, /MCF 1. Pre-tax rate of return (ROR) is based on projected cash flow and time value of money; costs include completed well cost, production expense, severance tax and variable operating costs. 3.25 gas is the wellhead price and used for oil price sensitivities and 50 WTI is used for gas price sensitivities. The description of the ROR calculation applies to any ROR reference appearing in this presentation. 2. 5.4 MM gross cost forward incremental completion cost 22
Continental Resources, Inc.
November 2017

970 2P Locations 40% IRRs at strip 1,200 2P Locations 40% IRRs at strip Combined company acreage in predominantly rural areas
Sandridge Energy, Inc.
November 2017

Key Investment Criteria Pure play Mid-Continent STACK operator STACK (Sooner-Trend-Anadarko-Canadian-Kingfisher) is one of the most coveted assets in N. High-Quality STACK America Resource Base Strong drilling results in the Meramec, Osage, Oswego, and Hunton Limestone oil play 65,200 net surface acre core STACK position 62% HBP(1) 26,100 net surface acre WEHLU and other 94% HBP(1) 2,484 gross, 1,210 net undrilled horizontal locations (Meramec-Oswego-Osage-Woodford- Hunton)(2) Highly Prolific Well Single well STACK IRRs of 27%, 32% in the Meramec and Osage, respectively(3) Results, Large WEHLU Hunton Upper and Lower IRRs of 48% and 36%, respectively(3) Drilling Inventory Upside exists with continued improvement in drilling efficiencies and increased density/field development Strong Oil Weighted Mid-Continent proved reserves of 30.1 MMBoe(4) (55% oil) Proved Reserve Mid-Continent oil reserves of 16.6 MMBbls(4) Profile Mid-Continent proved developed reserves of 14.0MMBoe(4) (46 oil%) Strong relationship with new capital provider Ares Management, LP Financial Profile & No near term debt maturities and liquidity to execute near-term drilling plan Hedge Position 2018 PDP hedge position 70% of oil PDP production and 57% of gas PDP production(5) Flexibility in capital expenditures program 1. Net surface and core STACK acres as of 9/30/2017 2. Acreage and drilling locations developed by the Company based on assumptions and methodology described on page 3 of this presentation 3. EURs, related type curves, and drilling locations are developed by the Company based on assumptions and methodologies described on page 3 of this presentation. 4. Based on 6/30/17 Wright & Company, Inc. report utilizing SEC pricing 5. Hedges as of 11/1/2017. Oil hedges include WTI for NGL proxy hedges and 30% of NGL PDP 2017 Gastar Exploration Inc. 6
Gastar Exploration Inc
November 2017

   Want More Data? SUBSCRIBE
Subscribe and Get immediate Access

Already a subscriber?Log In here