Skip to main content SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp Investor Presentation | Shale Experts
Loading...
Database
Slide Database

SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp

Range Resources Corp · Mar 24, 2015 · 20 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. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 1
    Scotia Howard Weil 43rd Annual Energy Conference Company Presentation Jeff Ventura Chairman, President & CEO March 24, 2015 1
  2. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 2
    Large Scale Growth Story with Low Cost and Low Risk Focused on PER SHARE GROWTH of production and reserves at top-quartile or better cost structure 1. Largest acreage position in core of Marcellus, Upper Devonian and Utica 2. Unit…
  3. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 3
    Range is Focused on Per Share Growth, on a Debt-Adjusted Basis Production/share debt adjusted Reserves/share debt adjusted 3.00 70.00 2.50 60.00 Mcfe/share 50.00 Mcfe/share 2.00 40.00 1.50 30.00 1.00 20.00 0.50…
  4. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 4
    SW/NE Pennsylvania Stacked Pays Total (1) Wet Dry Net Acreage Acreage Acreage Upper Devonian 330,000 195,000 525,000 Marcellus 330,000 310,000 640,000 Utica/Point Pleasant - 400,000 400,000 660,000 905,000 1,565,000…
  5. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 5
    Driving Down Unit Costs 4.50 4.00 3.50 3.00 /mcfe 2.50 2.00 1.50 1.00 0.50 0.00 - 2008 2009 2010 2011 2012 2013 2014 2015E Reserve 1.64 1.25 0.83 0.68 0.68 0.66 0.59 0.56 Replacement(1) LOE (2) 0.99 0.82…
  6. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 6
    Capital Efficiencies Driving Growth Budget = 870 Million Capital Efficiencies Driving Growth with less Capital 83% Completed lateral lengths in Marcellus 4% 13% expected to be 6,000 ft. in 2015 Drilling Acreage & Seismic…
  7. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 7
    Cost & Efficiency Improvements SW Pennsylvania Average Lateral Length Well Cost/Lateral Length 2,500 6,500 2,200 5,500 1,900 4,500 1,600 3,500 1,300 2,500 1,000 700 1,500 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015…
  8. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 8
    Cost & Efficiency Improvements NE Pennsylvania Average Lateral Length Well Cost / Lateral Length 6,000 2,400 2,100 5,000 1,800 4,000 1,500 3,000 1,200 2,000 900 1,000 600 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015…
  9. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 9
    Disciplined Financial Approach Strong, Simple Balance Sheet Bank debt, subordinated notes and common stock No debt maturity until 2019 (bank) and 2020 (notes) Immediate liquidity of 1.2 billion under commitment amount; 2.2 billion…
  10. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 10
    A History of Strong Credit Metrics EBITDAX / Interest 8.0x Range has a long history of 7.0x disciplined financial 6.0x management 5.0x 4.0x Strong EBITDAX coverage of 3.0x interest expense evidences 2.0x the low cost structure…
  11. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 11
    Long Life Reserves Enhances Credit Profile Proved Developed Reserves / Production With a best-in-class reserve life 18.0x index, Ranges low production 16.0x Range well above the average decline provides more stable 14.0x 12.0x…
  12. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 12
    Gas In Place (GIP) Analysis Shows Greatest Potential in SW PA When GIP analysis from the Marcellus, Upper Devonian and Point Pleasant are combined, the largest stacked pay resource is located in SW PA where Range has concentrated…
  13. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 13
    Additional Upside Utica/Point Pleasant OH PA Record 24 hour IP of 59.0 Mmcf/d at Claysville Sportsmans Club Currently producing 20 Mmcf/day under designed conditions 2 wells planned to be drilled in 2015 400,000 net acres in…
  14. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 14
    Range Marcellus/Utica Acreage Top Tier (Assumes 10% Return) 15
  15. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 15
    Marcellus has Low Break Even Costs From Credit Suisse Report Exploration Production US Upstream Deep Dive dated February 12, 2015, covers only liquids rich projects 16
  16. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 16
    Range Marcellus 2015 Well Economic Summary The different Marcellus areas provide optionality and a balanced approach to developing acreage and growing overall Marcellus production SW Super-Rich SW Wet SW Dry NE Dry 12.9 Bcfe 17.6…
  17. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 17
    Ranges Natural Gas Liquids Provide Revenue Uplift 5.00 Range is the largest NGL /Wellhead Gas producer in Appalachia, 4.50 with the highest Btu inlet 3.95 - 4.05 4.00 gas 3.50 Higher Btu gas receives increased uplift as it 3.00…
  18. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 18
    Significant Natural Gas Demand Growth Projected Beginning in 2015 LONG TERM US NATURAL GAS DEMAND ROADMAP (BCF/D) Cumulative 2015 2016 2017 2018 2019 2020 2015-2020 LNG Exports Sabine Pass 1.2 1.2 0.6 3.0 Freeport 0.5 1.0 0.4 1.9…
  19. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 19
    Gas Production Response May Occur Sooner than Expected 16 Bcf per day of Associated Gas with Oil Plays 8 Bcf per day of associated gas with shale oil plays Capital budgets in oil plays typically reduced by 40-50% Oil rig count down…
  20. SCOTIA HOWARD WEIL 43RD ANNUAL ENERGY CONFERENCE – Range Resources Corp – slide 20
    Range Resources Concluding Summary 1. Largest acreage position in core of Marcellus, Upper Devonian and Utica 2. Marcellus development has driven down unit costs over 40%; capital costs down 57% or more on a per lateral foot…

From the store

Browse maps, data & reports in the Shale Experts store