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INVESTOR PRESENTATION – Resolute Energy Corp

Resolute Energy Corp · Apr 17, 2013 · 30 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
    Energy Corporation Resolute Energy is a regionally diversified growth oriented E&P company focused on long-lived Investor presentation domestic oilEnergy producing assets Corporation April 17, 2013
  2. INVESTOR PRESENTATION – Resolute Energy Corp – slide 2
    Resolute overview Company history Market capitalization1 604.2 million SEC PV10 2 1.26 billion Long term debt3 790 million Shares outstanding4 63.6 million Debt to EBITDA2 4.4x Interest coverage2 5.3x SEC case proved reserves2…
  3. INVESTOR PRESENTATION – Resolute Energy Corp – slide 3
    Our recent history: Accelerating our growth Growing a diversified oil resource company Initial acquisition and commenced drilling in the Permian Basin Opened Midland office to support Permian Basin assets and 2011 activities…
  4. INVESTOR PRESENTATION – Resolute Energy Corp – slide 4
    The path forward Foundation assets growth potential Aneth Field Permian Properties Hilight Field Foundation asset Stable development Exploration opportunities 29% production growth 40,800 gross (20,200 net) Organic growth…
  5. INVESTOR PRESENTATION – Resolute Energy Corp – slide 5
    Our operating areas Pro forma proved reserves are 89% liquids Areas of operation Proved reserves by area(1) Bakken properties Wyoming properties Aneth Field Denver headquarters properties 2013 capital expenditures by…
  6. INVESTOR PRESENTATION – Resolute Energy Corp – slide 6
    2013 production and cost guidance 50% production growth, improved cash margin Improvement 2012 actual 2013 range vs. 20121 Projected total production (MBoe) 3,409 4,750 5,500 50% Boe/d 9,313 13,000 15,000 50% Projected costs LOE (…
  7. INVESTOR PRESENTATION – Resolute Energy Corp – slide 7
    Key investment highlights Well-positioned to execute growth plan High quality base of long-lived oil producing properties Portfolio of significant organic development opportunities Exploration projects poised to provide…
  8. INVESTOR PRESENTATION – Resolute Energy Corp – slide 8
    Aneth Field
  9. INVESTOR PRESENTATION – Resolute Energy Corp – slide 9
    Aneth Field overview Foundation asset with long-term growth Aneth Field map 43,000 gross acres and 1.5 billion barrels of original oil in place 56.3 MMBoe net reserves1 779 million net PV101 6,448 Boe/d Q4 2012 net production…
  10. INVESTOR PRESENTATION – Resolute Energy Corp – slide 10
    Aneth Field 57 years young Years of growth and development ahead Aneth cumulative CO2 injection Aneth Unit Phases Successful 1998 1, 2 and 3: injection pilot project initiated in 2008; demonstrated CO2 response Aneth Unit Phase 4:…
  11. INVESTOR PRESENTATION – Resolute Energy Corp – slide 11
    Existing and new CO2 flood projects Low risk, high rate of return oil development Timeline Continuous CO2 development Highly economic with average future PUD and PDNP development costs 2008 2012 of 17.31/Boe Demonstrated…
  12. INVESTOR PRESENTATION – Resolute Energy Corp – slide 12
    Historical Aneth Field daily gross oil production CO2 oil production response in Aneth Unit Aneth Field 6-month rolling average of gross daily oil production1 12,000 Aneth Unit CO2 injection begins 11,000 Gross oil production…
  13. INVESTOR PRESENTATION – Resolute Energy Corp – slide 13
    Aneth Field recovery efficiency Ratherford CO2 potential not in SEC reserves Significant reserves remain to be produced, and substantial growth can result from incremental recovery Cumulative oil Gross proved production Current SEC…
  14. INVESTOR PRESENTATION – Resolute Energy Corp – slide 14
    Permian Basin
  15. INVESTOR PRESENTATION – Resolute Energy Corp – slide 15
    Permian Basin Transformational asset base 40,800 gross (20,200 net) acres, Permian Basin map 90% HBP, 58% oil, 55% proved developed and 85% operated Core consists of three principal projects Midland Basin Wolfberry play Delaware…
  16. INVESTOR PRESENTATION – Resolute Energy Corp – slide 16
    Gardendale development Commencing horizontal program in 2013 Midland Basin 2013 drilling objectives Three horizontal wells targeting the Wolfcamp Twenty vertical wells Highly attractive economics Additional prospective horizontal…
  17. INVESTOR PRESENTATION – Resolute Energy Corp – slide 17
    Delaware Basin horizontal activity Resolute potential horizontal locations Delaware Basin Horizontal location Apache permit 11/12 Cimarex spud BHP spud 1/13 4/13 Cimarex Dixieland 10-1H Wolfcamp D horizontal (3/11)…
  18. INVESTOR PRESENTATION – Resolute Energy Corp – slide 18
    Delaware Basin horizontal potential Resolute horizontal economics Successful nearby horizontal Wolfcamp wells EOG, Cimarex, Devon and Apache 50 horizontal locations with multiple targets Delaware Basin horizontals Gross capital…
  19. INVESTOR PRESENTATION – Resolute Energy Corp – slide 19
    Midland Basin Big Spring project area Martin and Howard counties Wolfberry 4,300 gross (2,250 net) acres Vertical wells targeting Mississippian, Cline, Wolfcamp and Spraberry 2013 planned activity 10 gross (5 net) wells Drill…
  20. INVESTOR PRESENTATION – Resolute Energy Corp – slide 20
    Wyoming
  21. INVESTOR PRESENTATION – Resolute Energy Corp – slide 21
    Hilight Field opportunities Turner, Niobrara, Mowry and Minnelusa potential Powder River Basin Legacy Muddy oil field with 296 Crook MMBo OOIP Wyoming 45,400 acres HBP Minnelusa Regional producing formations core area include:…
  22. INVESTOR PRESENTATION – Resolute Energy Corp – slide 22
    Horizontal Turner activity Hilight Field prospective for Turner development Turner/Niobrara prospect area 90 horizontal Turner wells 3D seismic drilled by industry to date Best Petro-Hunt completion Resolute horizontal directly…
  23. INVESTOR PRESENTATION – Resolute Energy Corp – slide 23
    Mowry prospect fairway Setting up horizontal program T47N-R71W T47N-R70W Arco T47N-R69W Bishop vertical well Objective is to validate 3D EUR - 200 MBoe Mowry fracture model 2013 capital plan includes three Mowry recompletions…
  24. INVESTOR PRESENTATION – Resolute Energy Corp – slide 24
    Financial Summary
  25. INVESTOR PRESENTATION – Resolute Energy Corp – slide 25
    Current derivative positions Note: calculated from midpoint of 2013 guidance 26
  26. INVESTOR PRESENTATION – Resolute Energy Corp – slide 26
    Margins/cost structure 1 2011 2012 2012 ( in millions, except as noted) 2010 Q1 Q2 Q3 Q4 YTD Q1 Q2 Q3 Q4 YTD Pro forma Sales volumes Total MBoe 2,730 707 729 729 759 2,924 762 858 862 927 3,409 4,933 2 2 2 2 2 Revenue including…
  27. INVESTOR PRESENTATION – Resolute Energy Corp – slide 27
    Margins/cost structure per Boe 1 2011 2012 2012 ( per Boe) 2010 Q1 Q2 Q3 Q4 YTD Q1 Q2 Q3 Q4 YTD Pro forma 3 3 3 3 3 Adjusted revenues 2 60.49 68.86 74.81 70.96 74.01 72.20 72.16 68.43 69.73 70.10 70.04 69.50 Expenses Operating…
  28. INVESTOR PRESENTATION – Resolute Energy Corp – slide 28
    EBITDA 2011 2012 2012 1 ( in millions) Q1 Q2 Q3 Q4 YTD Q1 Q2 Q3 Q4 YTD Pro forma Net income (loss) (16.8) 25.7 37.6 (16.0) 30.5 (0.7) 22.8 (2.5) (1.6) 18.0 30.4 Adjustments: Interest 1.1 0.8 0.9 1.0 3.8 1.2 3.7 4.6 6.0 15.5 34.9…
  29. INVESTOR PRESENTATION – Resolute Energy Corp – slide 29
    Quarterly prices and volumes 1 2010 2011 2012 Pro forma Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q4 Average prices: Oil ( per Bbl) 72.38 71.53 69.76 78.66 87.62 96.17 83.29 87.96 96.16 85.19 85.00 81.86 81.74 NGL ( per Bbl) 46.66…
  30. INVESTOR PRESENTATION – Resolute Energy Corp – slide 30
    Resolute overview Company history Market capitalization1 604.2 million SEC PV10 2 1.26 billion Long term debt3 790 million Shares outstanding4 63.6 million Debt to EBITDA2 4.4x Interest coverage2 5.3x SEC case proved reserves2…

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