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Q3 2012 INVESTOR UPDATE – EP Energy Corp

EP Energy Corp · Nov 16, 2012 · 16 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. Q3 2012 INVESTOR UPDATE – EP Energy Corp – slide 1
    3 nd Quarter 2012 Investor Update November 16, 2012
  2. Q3 2012 INVESTOR UPDATE – EP Energy Corp – slide 2
    3Q Highlights Total production averaged 865 MMcfe/d 5% growth vs. prior yeardespite asset sales Oil production averaged 28 Mbbl/d Up 63% from prior year Liquids represented 24% of production and 60% of revenue1 8 rigs now running…
  3. Q3 2012 INVESTOR UPDATE – EP Energy Corp – slide 3
    Significant Oil Growth Continues Production (MMcfe/d) By Division By Product 865 42 865 27 827 31 827 32 169 103 +63% 48 +188% 138 119 81 697 654 629 614 3Q 2011 3Q 2012 3Q 2011 3Q 2012 Central Southern Eagle Ford…
  4. Q3 2012 INVESTOR UPDATE – EP Energy Corp – slide 4
    Significant Oil Growth Drives Higher Oil Revenues Revenue by Commodity 3Q 2011 3Q 2012 4% 4% 32% 56% 40% 64% Oil &Condensate Natural Gas NGL Oil &Condensate Natural Gas NGL 5 Note: Total operating revenue before impact…
  5. Q3 2012 INVESTOR UPDATE – EP Energy Corp – slide 5
    3Q Operations Summary Production Oil NGL Capital Wells Wells Current Program (MMcfe/d)1 (Mbbl/d)1 (Mbbl/d)1 (MM) Drilled2 Completed2 Rigs Eagle Ford 138 16 3 228 19 18 5 Altamont 63 7 - 47 5 6 2 Wolfcamp 13 1 1 39 4 4 1 Wilcox 13 1…
  6. Q3 2012 INVESTOR UPDATE – EP Energy Corp – slide 6
    Eagle Ford Delivering Results Mboe/d Program in full development 25.0 Gas NGL Oil Central area current focus 20.0 Increasing activity levels 15.0 Recently added 5th rig 10.0 Improved performance and operational efficiencies…
  7. Q3 2012 INVESTOR UPDATE – EP Energy Corp – slide 7
    Eagle Ford Improving Capital Efficiency Rig days (spud to release) Stimulation (Stages/Day) 19 4.3 15 14 3.4 2.3 2010 2011 2012 YTD 2010 2011 2012 YTD (through 3Q) (through 3Q) Well cost (MM/well) IP 30 rate1 (BOE/Day)…
  8. Q3 2012 INVESTOR UPDATE – EP Energy Corp – slide 8
    Wolfcamp - Moving to Development Completed 29 horizontal wells to date REAGAN IRION Increasing operational efficiencies Now in full development of Upper Wolfcamp Adding 2nd rig in 4Q CROCKETT Plan to delineate lower Wolfcamp Wells…
  9. Q3 2012 INVESTOR UPDATE – EP Energy Corp – slide 9
    Wolfcamp Focused Execution Rig days (spud to release) Stimulation (stages/day) 26 5.0 4.8 17 17 3.3 2011 2012 YTD Last 5 Wells 2011 2012 YTD Last 5 Wells (through 3Q) (through 3Q) Well cost (MM/well) 11.0 IP 30 rate1…
  10. Q3 2012 INVESTOR UPDATE – EP Energy Corp – slide 10
    Financial Results 11
  11. Q3 2012 INVESTOR UPDATE – EP Energy Corp – slide 11
    Summary Results ( in millions, unless otherwise stated) 3Q 2011 3Q 2012 % Change Production1 GOM sale Natural Gas (MMcfe/d) 697 654 -6% in July 12 Oil/Condensate (MBbls/d) 17.2 28.1 63% NGL (MBbls/d) 4.4 7.0 59% Combined…
  12. Q3 2012 INVESTOR UPDATE – EP Energy Corp – slide 12
    Adjusted Cash Operating Costs /Mcfe 1.75 1.76 0.03 0.02 0.27 0.34 0.58 0.66 0.87 0.74 3Q 2011 3Q 2012 Lifting Costs G&A Production Taxes Other Taxes Costs in-line despite shift to more intensive oil-focused programs…
  13. Q3 2012 INVESTOR UPDATE – EP Energy Corp – slide 13
    Robust Hedge Position 2012 2013 2014 2015 Volumes Price(1) Volumes Price(1) Volumes Price(1) Volumes Price(1) Natural Gas Tbtu Fixed Price Swaps 51 4.47 152 3.55 83 4.00 33 4.23 Oil MMbbls Fixed Price Swaps 0.83 105.12 8.95 103.52…
  14. Q3 2012 INVESTOR UPDATE – EP Energy Corp – slide 14
    Recent Activity Builds Liquidity July Closed sale of GOM assets -- 79 MM, net proceeds August Issued 350 MM Senior Unsecured Notes Repaid portion of RBL facility Re-priced 750 MM Senior Secured Term Loan Reduced rate from 6.5% to…
  15. Q3 2012 INVESTOR UPDATE – EP Energy Corp – slide 15
    Looking ahead Successful results drive strong financial performance Seeing benefits from rapid shift to liquids Drives unit margin expansion and returns Oil and gas proven reserve value Upper Wolfcamp program moves to full…
  16. Q3 2012 INVESTOR UPDATE – EP Energy Corp – slide 16
    3 nd Quarter 2012 Investor Update November 16, 2012

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