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CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp

Halcon Resources Corp · Feb 6, 2013 · 38 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 1
    Credit Suisse Energy Summit February 6, 2013 1
  2. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 2
    Halcn Today Entering a high-growth phase for production, reserves and cash flow Focused on core liquids-rich resource plays Simple capital structure with long-term focus Sufficient liquidity to execute on growth initiatives…
  3. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 3
    Core Plays Established Liquids-Rich Asset Base Significant Drilling Inventory Undisclosed Exploratory and Other Plays Not Shown Bakken/Three Forks Utica/Point Pleasant Woodbine 5
  4. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 4
    Expect Substantial Growth via the Drill-Bit Avg. Net Daily Prod. (SEC Basis) 45,000 42,500 40,000 35,000 30,000 Mboe 25,000 20,000 18,500 85% 15,000 Liquids 10,000 5,000 0 1Q12 2Q12 3Q12 4Q12E 2013E Oil NGLs Gas…
  5. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 5
    Bakken/Three Forks Asset Overview Planned Activities 130,000 net acres Focus on higher IRR areas 81% operated Implement operational Avg. WI in acreage: 72% improvements Avg. WI in operated wells: 53% 6-8 operated rigs in 2013 Avg.…
  6. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 6
    Bakken/Three Forks Land Overview Lease Expirations By Year 120,000 100,000 16% 7% 1% 80,000 1% Net Acres 60,000 40,000 75% 20,000 0 2013 2014 2015 2016-2020 HBP 75% of acreage HBP = flexibility to focus on…
  7. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 7
    Bakken/Three Forks Well Performance Fort Berthold - Antelope 9
  8. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 8
    Bakken/Three Forks Well Performance Fort Berthold - McGregory Buttes 10
  9. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 9
    Woodbine Asset Overview Planned Activities 210,000 net acres Focus on acreage in Leon, N. 100% operated Madison, W. Grimes and Brazos Avg. WI in wells: 91% Counties Avg. NRI: 69% 330 sq. mile 3D seismic shoot PF 3Q12 Production:…
  10. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 10
    Woodbine Land Overview Lease Expirations By Year 140,000 4% 4% 5% 120,000 100,000 24% Net Acres 80,000 57% 6% 60,000 40,000 20,000 0 2013 2014 2015 2016 2017 HBP 2013 2014 2015 2016 2017 HBP No significant near-term…
  11. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 11
    Woodbine North Operated Activity/Gross Isopach Halcn Operated Drilling Well WOC / Completing Producer 13
  12. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 12
    Woodbine North Well Performance Leon/N. Madison Counties, TX 14 Note: Data excludes wells with mechanical issues and wells drilled with wrong orientation by prior operators.
  13. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 13
    Woodbine Horizontal Drilling Improvements Leon County, TX 14,190' 676' 37 Days 4 Days 2 Days 2 Days 8 Days 21 Days 1 Days 359' 3.5 Days 16.5 Days 13,277' Average Well Average Footage Depth Per Day (TMD) Prior…
  14. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 14
    Utica/Point Pleasant Asset Overview Planned Activities 130,000 net acres Drilling 10 wells to delineate 100% operated acreage Avg. WI in wells: 91% 2-3 operated rigs in 2013 Avg. NRI: 74% Expect to spud 20-25 gross First two wells…
  15. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 15
    Utica/Point Pleasant Land Overview Lease Expirations By Year 90,000 3% 80,000 70,000 37% 60,000 Net Acres 50,000 60% 40,000 30,000 20,000 10,000 0 2018-2020 2020-2022 HBP 2018-2020 2020-2022 HBP No near-term lease…
  16. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 16
    Utica/Point Pleasant Regional Overview Structure on top of Trenton Lime PENNSYLVANIA OHIO UTICA PLAY STATISTICS AS OF 1.29.13: 77 Horizontal Wells Producing 206 Horizontal Wells Drilled 32 Horizontal Wells Currently Drilling…
  17. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 17
    Utica/Point Pleasant Northern Sweet Spot HK Lease Area HK Planned Wells Point Pleasant Not Present HK Drilled Wells Producing Wells Drilled Not Producing Range Resources Permitted Wells YODER 2H & Shell Range Resources…
  18. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 18
    Halcn Field Services (HFS) Infrastructure Challenges = Opportunity Support Halcn drilling operations Control time to market by installing, owning and operating midstream assets Minimize environmental impact Experienced leadership…
  19. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 19
    Woodbine Infrastructure - Early 2012 Infrastructure not suitable for development of unconventional resource base Constrained gas gathering systems Limited rich gas takeaway capacity and processing No scalable water solutions No…
  20. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 20
    Woodbine Infrastructure Update HFS System Overview System to handle gas, NGLs and produced water 50 miles of pipeline planned Gathering system to encompass full acreage position Processing plant expected to be installed in 1Q13…
  21. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 21
    Utica/Point Pleasant Infrastructure Update Existing infrastructure lacks scale, processing and takeaway capacity HFS Strategy: Leverage existing infrastructure Use 3rd party solutions if available and competitive Multi-modal…
  22. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 22
    Pro Forma Capitalization and Liquidity Pro Forma Capitalization ( in millions) HK Williston Basin Assets HY Add-On Offering HK PF Adjusted 9.30.2012 Adjustments Adjustments 9.30.2012 Cash and Cash Equivalents 18.1 259.8 434.5 712.4…
  23. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 23
    Derivative Summary as of 1.30.13 PROTECT CASH FLOW Actively hedging with target to hedge up to 80% of expected production over next 18-24 months Avg. Floor Price 90.60 88.23 Avg. Floor Price 3.92 3.85 25
  24. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 24
    Halcn Investment Highlights Proven Management Team With Significant Ownership Stake Technical Bias With Extensive Resource Experience Attractive Liquids-Rich Asset Portfolio Positioned For Significant Near-Term Reserve And…
  25. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 25
    Appendix
  26. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 26
    HK Ownership (in thousands) Basic Dilutive Securities Fully Diluted Net Diluted (3) Owner Shares Percent Conv. Debt (1) Warrants (2) Options Shares Percent Shares Percent HALRES LLC (4) - - 64,371 36,667 - 101,038 21% 79,497 18%…
  27. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 27
    Derivative Detail as of 1.30.13 Oil Hedge Summary FY 2013 FY 2014 Volume Ceiling / Floor Volume Ceiling / Floor (1) (1) (1) (1) (Bbls) Swap Price Purchased Floor Sold (Bbls) Swap Price Purchased (1) Floor Sold (1) Three-Way Collars…
  28. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 28
    Bakken/Three Forks Competitive Landscape Renville Divide Burke Sheridan Ward…
  29. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 29
    Bakken/Three Forks Fort Berthold - Antelope Type Curve (1st 24 Months) 500 600 400 500 Oil / NGL (Bbl/d) 400 Gas (Mcf/d) 300 300 200 200 100 100 0 0 1 4 7 10 13 16 19 22 (Months) B Oil (Bbl/d) TF Oil (Bbl/d) B Gas…
  30. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 30
    Bakken/Three Forks Fort Berthold McGregory Buttes Type Curve (1st 24 Months) 400 400 300 300 Oil / NGL (Bbl/d) Gas (Mcf/d) 200 200 100 100 0 0 1 4 7 10 13 16 19 22 (Months) B Oil (Bbl/d) TF Oil (Bbl/d) B Gas (Mcf/d)…
  31. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 31
    Woodbine Competitive Landscape 34
  32. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 32
    Woodbine North Leon/N. Madison Counties, TX Type Curve (1st 24 Months) 600 300 500 Oil/NGL (Bbl/d) 400 200 Gas (Mcf/d) 300 200 100 100 0 0 1 4 7 10 13 16 19 22 (Months) Oil (Bbl/d) NGL (Bbl/d) Gas (Mcf/d)…
  33. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 33
    Utica/Point Pleasant Wet Gas Type Curve (1st 24 Months) 400 4,000 300 3,000 Oil/NGL (Bbl/d) Gas (Mcf/d) 200 2,000 100 1,000 0 0 1 4 7 10 13 16 19 22 (Months) Oil (Bbl/d) NGL (Bbl/d) Gas (Mcf/d) Capital Costs /…
  34. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 34
    Utica/Point Pleasant Volatile Oil Type Curve (1st 24 Months) 300 3,000 Oil/NGL (Bbl/d) 200 2,000 Gas (Mcf/d) 100 1,000 0 0 1 4 7 10 13 16 19 22 (Months) Oil (Bbl/d) NGL (Bbl/d) Gas (Mcf/d) Capital Costs / Well (MM)…
  35. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 35
    Utica/Point Pleasant Black Oil Type Curve (1st 24 Months) 500 500 400 400 Oil/NGL (Bbl/d) Gas (Mcf/d) 300 300 200 200 100 100 0 0 1 4 7 10 13 16 19 22 (Months) Oil (Bbl/d) NGL (Bbl/d) Gas (Mcf/d) Capital Costs /…
  36. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 36
    Halcn 3Q12 Net Realized Price as % of NYMEX Net Realized Oil Prices (% of NYMEX) 3Q '12 Avg. Basin Bakken/Three Forks 86.0% Eagle Ford 102.8% Mississippi Lime 98.4% Woodbine 105.9% Other - Conventional 99.8% Net Realized Gas…
  37. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 37
    Halcn History Closed the Williston Basin Assets acquisition Recapitalized RAM Energy Resources, Inc. Funded with 756 million of cash and Funded with 550 million investment(1)by EnCap, 108.8 million shares of equity Liberty Energy…
  38. CREDIT SUISSE ENERGY SUMMIT – Halcon Resources Corp – slide 38
    Contact: Scott M. Zuehlke, VP Investor Relations 1000 Louisiana St., Suite 6700 Houston, TX 77002 832-538-0314 szuehlkehalconresources.com www.halconresources.com 41

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