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INVESTOR PRESENTATION – Resolute Energy Corp

Resolute Energy Corp · Jan 20, 2011 · 35 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. INVESTOR PRESENTATION – Resolute Energy Corp – slide 1
    Investor presentation January 2011 NYSE: REN
  2. INVESTOR PRESENTATION – Resolute Energy Corp – slide 2
    Resolute overview Picture goes here Market capitalization1 819.7 million Long term debt2 121.3 million Shares outstanding 54.9 million Debt to total market cap 12.9% SEC case proved reserves3 64 MMBoe Oil 77% NGL 13% Gas 10%…
  3. INVESTOR PRESENTATION – Resolute Energy Corp – slide 3
    Why invest in Resolute Experienced management with a successful track record Liquids weighted (90% liquids) domestic onshore exploration and production company Attractive core properties Proved R/P = 23 years Organic growth…
  4. INVESTOR PRESENTATION – Resolute Energy Corp – slide 4
    Property overview Year-end 2009 SEC case1 Proved reserves: 64 MMBoe PV10 480 million Year-end 2009 strip case1 Proved reserves: 83 MMBoe PV10: 1.1 billion Q1 2010 net production: 7,062 Boe per day Q2 2010 net production: 7,266…
  5. INVESTOR PRESENTATION – Resolute Energy Corp – slide 5
    Aneth
  6. INVESTOR PRESENTATION – Resolute Energy Corp – slide 6
    Resolute Aneth Field properties Large field with long production history Discovered in 1956 1.5 billion Bbl original oil in place Production to date of 419 million barrels (29%) Expected recovery including only proved reserves…
  7. INVESTOR PRESENTATION – Resolute Energy Corp – slide 7
    Aneth Field properties SEC case reserves by product SEC case reserves by category NGL 12% Gas 6% PDP 33% PUD 49% Oil 82% PDNP 18% Year-end 2009 SEC case1 Year-end 2009 strip case1 Proved reserves: 60 MMBoe Proved reserves:…
  8. INVESTOR PRESENTATION – Resolute Energy Corp – slide 8
    Existing and new CO2 flood projects Aneth Unit Pilot Aneth Phases 1, 2 and 3 CO2 flooded since 1998 Completed in 2008/09 Currently under injection Aneth Phase 4 McElmo Creek Unit Begin work in 2010 CO2 flooded since 1985 First…
  9. INVESTOR PRESENTATION – Resolute Energy Corp – slide 9
    25 years of CO2 response at McElmo Creek Unit McElmo Creek Unit CO2 response 1,000,000 Monthly Volume (Bopm) 100,000 Begin CO2 injection 1/85 10,000 1-Jan-75 1-Jan-80 1-Jan-85 1-Jan-90 1-Jan-95 1-Jan-00 1-Jan-05…
  10. INVESTOR PRESENTATION – Resolute Energy Corp – slide 10
    Demonstrated Response Aneth Unit Aneth Unit CO2 response 3,200 40 3,000 35 Aneth Phases 1, 2 and 3 substantially 2,800 30 completed in late 2008 2,600 25 First measured response in 2008 Daily Rate (Bopd) Production…
  11. INVESTOR PRESENTATION – Resolute Energy Corp – slide 11
    Aneth Unit phases 1, 2 and 3 CO2 injection and response wells 12
  12. INVESTOR PRESENTATION – Resolute Energy Corp – slide 12
    Phases 1, 2 and 3 CO2 Production Response (gross) Actual Gas Prd Actual Oil Prd Prior Gas Fcst Prior Oil Fcst Current Gas Fcst Current Oil Fcst Extrap Prior Gas Extrap Prior Oil Extrap Current Gas Extrap Current Oil 10,000,000…
  13. INVESTOR PRESENTATION – Resolute Energy Corp – slide 13
    Aneth Unit Phases 1, 2 and 3 14
  14. INVESTOR PRESENTATION – Resolute Energy Corp – slide 14
    McElmo Creek Unit DC-IIC Project 2010 Activities Producers Injectors Scheduled 10 8 Completed 8 1 Six wells producing for one to six months 130 Bbl per day average incremental production from DC-IIC Four additional wells…
  15. INVESTOR PRESENTATION – Resolute Energy Corp – slide 15
    Demonstrated Response McElmo Creek Unit McElmo Creek Unit Desert Creek IIC recompletion response 2,800 2,700 2,600 2,500 2,400 Daily Rate (Bopd) 2,300 2,200 2,100 2,000 1,900 1,800 Jan-2010 Apr-2010…
  16. INVESTOR PRESENTATION – Resolute Energy Corp – slide 16
    Significant organic upside Resolute Aneth annual net production MBoe (SEC case at December 31, 2009) PDP PDNP PUD 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 2010 2011 2012 2013 2014 Production from proved…
  17. INVESTOR PRESENTATION – Resolute Energy Corp – slide 17
    Wyoming
  18. INVESTOR PRESENTATION – Resolute Energy Corp – slide 18
    Wyoming - Hilight Field 2009 SEC case reserves by product by category PUD 1% Oil 23% Gas 51% NGL 26% PDP 57% Location Map PDNP 42% 20 miles Wyoming 2009 Year-end SEC case1 Proved reserves 5 MMBoe Acquired in July 2008…
  19. INVESTOR PRESENTATION – Resolute Energy Corp – slide 19
    Hilight Field growth opportunities Muddy refrac program Five wells recently refraced Termo Three additional planned for 2010 Emerging Mowry oil shale play Five recently drilled wells, four producing oil Wells in Hilight had…
  20. INVESTOR PRESENTATION – Resolute Energy Corp – slide 20
    Mowry activity and Resolute acreage Big Horn Basin Mowry Play Regional Index Map 4 0 0 00 0 Mowry Oil Play Area 20 00 0 0- 50 - 0- - 300 10 0 00 and Resolute Acreage 60 200 0 - Mowry continuous oil…
  21. INVESTOR PRESENTATION – Resolute Energy Corp – slide 21
    Bakken
  22. INVESTOR PRESENTATION – Resolute Energy Corp – slide 22
    Williston Basin Bakken Trend Bakken stats 150 active rigs in the basin Hess adding 10th rig Recent acreage cost at 5,000/acre Geo Resources JV (New Home) Resolute Three leased areas New Home Parshall Paris Rough Rider…
  23. INVESTOR PRESENTATION – Resolute Energy Corp – slide 23
    Bakken development project Resolute and GeoResources joint project to develop Bakken acreage in Williams County, Permitted wells in which Resolute owns interests ND (highlighted) Resolute and GeoResources Oasis NJOS each own 47.5%…
  24. INVESTOR PRESENTATION – Resolute Energy Corp – slide 24
    Williston Basin New Home (GeoResources JV) Acreage 68,713 gross acres 23,527 net acres State lease sale 159N-101W: 2,000/acre 2010 joint venture wells G3 Carlson 1-11H 640 acre unit Completed G3 Carlson 1-11H WI: 41.6% G3…
  25. INVESTOR PRESENTATION – Resolute Energy Corp – slide 25
    Williston Basin Paris (Marathon farm out) Megamouth IP: 2,673 Boed EUR: 425 MBoe Acreage EUR: 27 MBoe net Newfield 19,000 gross acres IP: 2,497 Boepd Burlington 8,425 net acres IP: 2,533 Boepd 2010 Marathon wells…
  26. INVESTOR PRESENTATION – Resolute Energy Corp – slide 26
    Financial Overview
  27. INVESTOR PRESENTATION – Resolute Energy Corp – slide 27
    Pro forma summary financials ( in millions, except as noted) 2007 2008 2009 Q1 2010 Q2 2010 Q3 2010 Sales volumes Total MBoe 2,760 2,823 2,715 1 636 1 661 1 702 1 2 Revenue including hedging 170.9 206.0 139.0 39.0 39.2 41.0…
  28. INVESTOR PRESENTATION – Resolute Energy Corp – slide 28
    Pro forma margins/cost structure ( per Boe) 2007 2008 2009 Q1 2010 Q2 2010 Q3 2010 1 Revenues 61.91 72.99 51.21 61.36 59.32 58.41 Expenses 2 Operating expenses 16.69 20.06 18.38 20.75 18.33 18.57 Taxes 7.42 10.42 6.92 9.95…
  29. INVESTOR PRESENTATION – Resolute Energy Corp – slide 29
    2010 Guidance 2010 estimated production: 2.7 to 2.8 MMBoe Daily rate 7,400 to 7,700 Bbl per day Revenue weighted Volume weighted % Oil 86% % Oil 77% % Oil and NGL 91% % Oil and NGL 84% Operating and overhead expenses Lease…
  30. INVESTOR PRESENTATION – Resolute Energy Corp – slide 30
    Resolute Investor Contacts
  31. INVESTOR PRESENTATION – Resolute Energy Corp – slide 31
    Resolute investor contacts HB Juengling Vice President Investor Relations (hbjuenglingrnrc.net) Theodore Gazulis Senior Vice President and Chief Financial Officer (tgazulisrnrc.net) Nicholas J. Sutton Chief Executive Officer…
  32. INVESTOR PRESENTATION – Resolute Energy Corp – slide 32
    Conclusion and Q&A
  33. INVESTOR PRESENTATION – Resolute Energy Corp – slide 33
    Appendix A Economic parameters SEC case economic parameters Oil 61.18 per Bbl (NYMEX) Gas 3.87 per MMBtu ( Henry Hub) Strip case economic parameters Oil Gas /Bbl /MMBtu 2010 82.30 5.77 2011 86.13 6.31 2012 87.99 6.48 2013…
  34. INVESTOR PRESENTATION – Resolute Energy Corp – slide 34
    Appendix B Reconciliation of non-GAAP measures Three months ended Year ended December 31, March 31, June 30, Sept 30, ( in millions) 2007 2008 2009 2010 2010 2010 Net income (loss) (104.4) (90.4) (52.9) 4.7 19.1 (7.1) Adjustments:…
  35. INVESTOR PRESENTATION – Resolute Energy Corp – slide 35
    Quarterly prices and volumes Product prices and production volumes Quarterly data for 2009 and 2010 2010 2009 Third Second First Fourth Third Second First Average prices: Crude oil ( per Bbl) 69.76 71.53 72.38 69.48 61.75 53.19…

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