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July 2012 Opertions Update – EP Energy Corp

EP Energy Corp · Jul 18, 2012 · 24 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. July 2012 Opertions Update – EP Energy Corp – slide 1
    EP Energy Operations Update July 18, 2012
  2. July 2012 Opertions Update – EP Energy Corp – slide 2
    Purpose: What We Do At EP Energy, we have a passion for finding and producing the oil and natural gas that enriches people's lives 3
  3. July 2012 Opertions Update – EP Energy Corp – slide 3
    Vision: Where We're Going 4
  4. July 2012 Opertions Update – EP Energy Corp – slide 4
    Values: How We Behave 5
  5. July 2012 Opertions Update – EP Energy Corp – slide 5
    Strategy: How We'll Get There 6
  6. July 2012 Opertions Update – EP Energy Corp – slide 6
    Large, Diverse, High-Quality Asset Base 2011 Proved Reserves Realigned Divisional Structure Eagle Ford 16% Central Central 2011 Reserves 2011 Reserves(Bcfe): (Bcfe): 1,110 2,602 Other Assets 1Q2011 4Q 2012 Production…
  7. July 2012 Opertions Update – EP Energy Corp – slide 7
    1Q Highlights cTotal production averaged 908 MMcfe/d (11% growth vs. prior year) cOil production averaged 23 MBbl/d (66% growth vs. prior year) c19% liquids 1Q 2012 vs. 14% in 1Q 2011 cCash Costs of 1.74/Mcfe vs. 1.85/Mcfe prior year…
  8. July 2012 Opertions Update – EP Energy Corp – slide 8
    Financial Update 9
  9. July 2012 Opertions Update – EP Energy Corp – slide 9
    Summary Financials ( in millions, unless otherwise stated) 1Q 2011 1Q 2012 % Change Production Natural Gas (MMcfe) 63,515 66,576 4.8% Oil/Condensate (MBbls) 1,276 2,129 66.8% NGL (MBbls) 445 543 22.0% Combined production (MMcfe)…
  10. July 2012 Opertions Update – EP Energy Corp – slide 10
    Performance Update 11
  11. July 2012 Opertions Update – EP Energy Corp – slide 11
    Strong Oil Growth Production (MMcfe/d) By Product (MMcfe/d) 908 908 821 36 821 36 31 84 19 30 141 125 85 147 663 706 731 624 1Q 2011 1Q 2012 1Q 2011 1Q 2012 Central Southern Eagleford International Natural Gas…
  12. July 2012 Opertions Update – EP Energy Corp – slide 12
    Cash Costs (/Mcfe) /Mcfe 1.85 0.05 1.74 0.04 0.32 0.32 0.74 0.57 0.74 0.81 1Q 2011 1Q 2012 Lifting Costs G&A Production Taxes Other Taxes 13
  13. July 2012 Opertions Update – EP Energy Corp – slide 13
    Robust Hedge Position Natural Gas Hedges 2012 2013 2014 2015 Volume Average Price Volume Average Price Volume Average Price Volume Average Price (Tbtu) (MMbtu) (Tbtu) (MMbtu) (Tbtu) (MMbtu) (Tbtu) (MMbtu) Average Floor 103 4.47 152…
  14. July 2012 Opertions Update – EP Energy Corp – slide 14
    Divestiture Update c Closed sale of Egypt on June 7 for 22 MM cSale represents complete country exit c Closed sale of Indiana assets on July 2 for 6MM 15
  15. July 2012 Opertions Update – EP Energy Corp – slide 15
    Core Programs 16
  16. July 2012 Opertions Update – EP Energy Corp – slide 16
    Capital Performance Gross Capital Cost Per Well (MM) First 3 Wells 2011 1Q 2012 Remaining 2012 10.8 10.9 9.7 9.6 9.9 9.0 8.9 8.6 8.4 8.2 8.2 7.8 7.8 7.0 6.6 6.9 6.4 6.1 6.0 5.6 Haynesville Eagle Ford Wolfcamp Altamont…
  17. July 2012 Opertions Update – EP Energy Corp – slide 17
    Eagle Ford Shale Overview c Highest return and highest value asset in portfolio Map of Operations c Advantaged acreage position in central area c Primary driver of near term oil production and EBITDA growth c Significant go…
  18. July 2012 Opertions Update – EP Energy Corp – slide 18
    Altamont Overview c 2nd highest value asset in portfolio c Legacy oil asset with significant future inventory Map of Operations c Operator of largest acreage position in field c Secondary recovery opportunities and evaluating infill…
  19. July 2012 Opertions Update – EP Energy Corp – slide 19
    Wolfcamp Shale Overview c Largest oil inventory and reserve add potential in portfolio Map of Operations (3 different zones) c Early stages of development in primary zone; immature in other zones c Currently developing drilling…
  20. July 2012 Opertions Update – EP Energy Corp – slide 20
    South Louisiana Wilcox Overview c Significant lease position Map of Operations c Evaluating new 3D surveys DE SOTO c Receives premium pricing for oil & condensate, and NGLs RUSK WINN SHELBY NATCHITOCHES c 2012 Program NACOGDOCHE TX…
  21. July 2012 Opertions Update – EP Energy Corp – slide 21
    Haynesville Shale Overview c Significant natural gas base production and inventory Map of Operations c Industry cost and execution leader c Advantaged acreage position, held by production c Shifting to base optimization c Not…
  22. July 2012 Opertions Update – EP Energy Corp – slide 22
    Appendix 23
  23. July 2012 Opertions Update – EP Energy Corp – slide 23
    Adjusted EBITDA Reconciliation ( in millions) 1Q 2011 1Q 2012 Reported Net Income (Loss) (18) 15 Income tax expense (benefit) (16) 41 Interest expense 3 4 DD&A 134 201 Reported EBITDA 103 261 Net impact of financial derivatives…
  24. July 2012 Opertions Update – EP Energy Corp – slide 24
    Additional NonGAAP Information EP Energy uses nonGAAP financial measures of Reported EBITDA. Reported EBITDA is defined as net income plus interest and debt expense, income taxes and depreciation, depletion and amortization. We also…

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