Skip to main content
Rates Of Return
Buda Limestone
  Economics : Rates of Return/ IRR

Showing 3 Results


Comanche: Area 3 Overview 2017 Activity In Area 3 Comanche Area 3 IP (Bbl/d) 520 Oil Net Capital 80MM Initial Decline (%) 78.0% Oil EUR (MBbl) 258 Drilling of 61 Gross Development Wells IP (Mcf/d) 2,487 Completions of 40 Gross Development Wells Gas Initial Decline (%) 74.0% Gas EUR (MMcf) 1,123 Completions of 80 Gross DUCs NGL Yield (Bbl/MMcf) 129 NGL NGL EUR (MBbl) 188 3 Stream EUR (MBoe) 633 % Oil 41% Well Cost (M) 3,200 NPV10 (M)* 3,079 IRR (%)* 71% *Price Deck: Price Deck: 12.30.16 Strip; Assumes NGL Pricing 30% of WTI Area 3 Target Strategy AC 140 Upper EF Middle EF 100 Lower EF 600 BUDA 36 2017 Sanchez Energy Corporation
Sanchez Energy Corp
December 2017

Acquisition Overview Transaction Summary Asset Overview WRD agreed to acquire 111,000 net acres and 7.6 Mboe/d of net production from Robertson Anadarko Petroleum Corporation (Anadarko or APC) and affiliates of Kohlberg Kravis Roberts & Co. L.P. (KKR). Target closing date for the acquisition is June 30, 2017. Milam 625 million acquisition consideration includes: 121 million revolving credit facility borrowings Brazos 69 million in common shares issued to KKR at closing, 6.3 million shares 435 million in Series A Perpetual Convertible Preferred Stock issued at closing to The Carlyle Group, through its U.S. buyout fund Carlyle Partners VI Burleson Compelling Rationale for Transformative Acquisition Lee HIGH QUALITY EAGLE FORD ACREAGE AND INVENTORY 111,000 net acres in the Eagle Ford (40% increase in total Eagle Ford acres) Washington 711 net locations in the Eagle Ford 91 Boe/ft type curve area with attractive single-well IRRs of 55%(1) Average 8/8ths NRI of 80% 0 20 WRD Miles Fayette APC / KKR Acquisition Austin LIQUIDITY ENHANCING AND CREDIT NEUTRAL Expected pro forma liquidity after giving effect to the acquisition of 620mm (2) WildHorse Acquisition Geologic Criteria Net debt / Annualized EBITDAX(3) remains 1.9x pro forma for the acquisition WRD Eagle Ford APC / KKR Acquisition MIDSTREAM INFRASTRUCTURE IN PLACE Pipeline infrastructure in place; takeaway capacity and advantaged location leads to low High Oil Cut differentials ADDITIONAL UPSIDE Carbonate Rich Second landing target in the Eagle Ford with potential downspacing opportunities Refrac potential on understimulated Eagle Ford wells with average sand loadings of 1,100 lbs/ft Attractive Oil Gravity Upside potential in other horizons: Austin Chalk, Georgetown, Buda, Pecan Gap and Woodbine High Pore Pressure 1. See slide 33 for assumptions embedded in Eagle Ford IRR calculation. IRR based on Consensus Pricing as of 4/26/2017: 54.00 / 3.15 for 2017, 60.00 / 3.11 for 2018, 61.00 / 3.09 for 2019, 66.50 / 3.25 for 2020, 70.00 / 3.45 for 2021 and thereafter for WTI and Henry Hub, respectively. 2. Based on initial indications from its bank group, WRD expects an increase to its borrowing base of approximately 200 million for the announced acquisition adjustment 11 3. See Net Debt and EBITDAX reconciliations on page 39 and 42. WRD status quo Q1 2017 reported EBITDAX; announced acquisition adjustment based on Q4 2016 EBITDAX.
WildHorse Resource Development
June 2017

Asset Overview Dimmit County Optimization Upper Individual Well EGFD Well Cost IRR at Strip Lower Base (8000' lateral) 5,945,000 21% EGFD Rig mobilization/demobilization (120,000) 22% Company vs outsourced supervision (160,000) 24% Centralized facilities/pad construction (295,000) 28% Purchase dumb iron (170,000) 30% Pad development cost/well 5,200,000 30% BUDA Chevron Pattern 12
Sundance Energy Inc
March 2017
   Want More Data?
Subscribe and Get immediate Access

Already a subscriber?Log In here