Economics : Rates of Return/ IRR

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Alluring Macroeconomic Fundamentals High quality rock drives compelling returns, robust rig activity Major U.S. Oil Plays Breakeven Prices (/BBL)1 Alta Mesa Type Well IRR3 33.36 34.66 34.76 32.14 169.3% 27.71 27.53 27.16 24.40 102.6% 89.7% 137.1% Reeves Wolfcamp A Over-Pressured Oil DJ Basin - Wattenberg Wolfcamp A&B N. Delaware Basin - Alta Mesa - Updip Oil SCOOP Woodford Eagle Ford - Karnes STACK Meramec - Core Midland - S. Delaware Basin - Condensate Wolfcamp XY 82.3% STACK 2 71.2% Core XRL Trough 4 5 NYMEX Strip Broker Consensus 70.00/bbl / 3.50/mcf Gen 2.0 Gen 2.5 KFM Acreage Dedications / Resource Allocations Breakdown6 KFM Gas Inlet Volumes by Producer (MMCF/D) (000 of gross acres) % Alta Mesa(7) 69% 52% 55% 175 541 639 366 393 193 86 118 239 50 22 128 Phase I + II Phase III / Western Phase I + II + III Additional Acreage 2017E 2018E 2019E Expansion Under Negotiation Alta Mesa Other Producers (Phase I & II) Other Producers (Phase III) Source: BakerHughes, Wall Street Research. 1 Based on 15% IRR hurdle. Assumes gas price deck of 2017: 3.10/mcf; 2018: 2.99/mcf; 2019: 2.83/mcf; 2020: 2.82/mcf; thereafter: 2.83/mcf. 2 AMR breakeven price company prepared. Based on AMR 651 MBOE mean type curve. 3 Osage type curves assume 17% royalty burden and 3.2mm D&C well cost. Adjusted for transportation costs paid to KFM. Excludes 1.25 / bbl oil transportation costs. 4 NYMEX strip pricing as of 8/3/2017 close until 2021 and held flat thereafter. 5 Assumes Broker Consensus Price Deck (2017: 51.16/bbl / 3.16/mcf; 2018: 54.90/bbl / 3.14/mcf; 2019: 58.00/bbl / 3.05/mcf and held flat thereafter). 6 Not inclusive of producer customers entire gross acreage position; additional gross acreage proximate to KFM available for gathering and processing services. Includes additional acreage to come and/or under negotiation. 13 7Percentage of Phase I & II shown.
Silver Run Acquisition Corp II
August 2017

2Q 2017 Operational Highlights and Performance Drivers Optimized completions improving results in all Play Net Reservoir plays Acres(2) NORTH Bakken: 806,000 STACK Meramec condensate type curve EUR announced STACK: 2.0 Million Net Reservoir Acres Meramec 207,000 Third STACK density flowing back 70% HBP Woodford 193,000 Record STACK well completed SOUTH SCOOP: More Springer results Springer 188,000 Sycamore 314,000 Crude oil differentials declining Woodford 314,000 147.5 million of non-core asset sales Operating efficiencies drive costs down Play ROR(1) % Oil Est. Total Bakken drilling cost - 26% lower than 2016 average % Liquids STACK condensate drilling cost - 13% lower than 2016 Bakken Drilling + DUCs(3) 82% - 100%+ 80% 90% average STACK Meramec Oil 100%+ 60% 70% SCOOP Woodford drilling cost - 17% decrease in /feet SCOOP Woodford Condensate 70% 25% 55% compared to 4Q16 Springer Cash well drilling cost - 33% lower than 2015 average 1. ROR is based on 50 WTI and 3.25 gas, see ROR footnote on slide 20 2. Acreage numbers are approximate 3. ROR is based on the 5.4MM cost forward incremental completion cost 9
Continental Resources, Inc.
August 2017

2017 Activity Economic Focus During 2017, plan to focus Utica Shale activity in the dry gas windows and SCOOP activity in the wet gas window of the play. Allocation of capital split between two top-tier basins with dry gas and liquids inventory. SCOOP Single Well Economics(1,2) Utica Single Well Economics(1,2) 140% 140% 130% 122% 129% 120% 120% 125% 120% 100% 2017 109% 100% 2017 91% Drilling Plan85% Drilling Plan 89% IRRs 80% 80% 86% 78% 65% 77% 57% 57% 60% 60% 52% 55% 48% 46% 53% 52% 35% 49% 40% 40% 36% 29% 42% 28% 43% 27% 32% 26% 32% 15% 23% 20% 20% 12% 26% 24% 11% 19% 13% 11% 10% 0% 0% Gas 2.50 / Oil 42.50 Gas 3.00 / Oil 50.00 Gas 3.50 / Oil 58.00 Gas 4.00 / Oil 67.00 Gas 2.50 / Oil 42.50 Gas 3.00 / Oil 50.00 Gas 3.50 / Oil 58.00 Gas 4.00 / Oil 67.00 Woodford Dry Gas Woodford Wet Gas Condensate West Condensate East Wet Gas Woodford Condensate Springer Oil Dry Gas West Dry Gas Central Dry Gas East Woodford Woodford Woodford Springer Gas Springer Condensate Condensate Wet Dry Gas Dry Gas Dry Gas Dry Gas Wet Gas Condensate Condensate Oil West East Gas West Central East Gross Undeveloped Locations 402 528 249 215 354 Gross Undeveloped Locations(3) 134 78 123 180 446 259 Net Undeveloped Locations 65 182 33 72 70 Net Undeveloped Locations 101 58 92 135 335 194 1. Assumes ethane rejection. 2. Well economics are adjusted for transport fees and regional price differentials. 3. Assumes net undeveloped locations grossed up from 75% working interest. WWW.GULFPORTENERGY.COM 7
Gulfport Energy Corp.
August 2017

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