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
Vision: Where We're Going 4
Values: How We Behave 5
EP Energy Launch May 24 EP Energy begins Closed sale to private equity group May October Issued 4.2 billion debt, net of pay- downs, in four transactions October 22 SEC Form S-4 effective Public debt registrant 6
Key Attributes Large, Diverse 4.0 Tcfe of proved reserves PV-10 of 7 billion1 High Quality Rapidly growing oil shale plays -- onshore U.S. unconventional Asset Base Producing wells currently 77% operated1 20+ year drilling inventory…
High-Quality Asset Base 2011 Proved Reserves Eagle Ford, Diversified Portfolio Brazil/Four Star 16% 2011 Reserves: 269 Bcfe Other Assets, Production: 89 MMcfe/d3 42% Haynesville, 23% Central Central Altamont, 14% 2011…
Key Programs Provide Multi-Year Drilling Opportunity KEY DRILLING PROGRAMS LOCATIONS1 Haynesville 673 Eagle Ford 1,246 Wolfcamp 983 Altamont 1,336 ALTAMONT Wilcox 260 Total 4,498 HAYNESVILLE WOLFCAMP Oil Resources Gas…
2012 Capital Budget 1.5 - 1.6 billion1 3% 6% 8% 12% 13% 90% allocated to oil-focused key programs 10 1Includes 100 MM of capitalized interest, information technology and capitalized direct labor costs.
Maintaining Gas Option While Increasing Oil Resources Gas program solid producer Production prices well hedged 2013 annual decline rate of gas programs 25-30% Haynesville, Raton, Arklatex Future gas option Acreage largely held by…
Oil Growing Rapidly Oil volumes up 60%1 2012 YTD vs. 2011 YTD Growing revenue impact2 56% (3Q12) vs. 32% (3Q11) 85% of future drilling inventory located in oil-focused reservoirs 91% of 2012 capex oil-directed Capital…
Eagle Ford Highest return/value asset in portfolio Advantaged acreage position Significant inventory of oil opportunities Improved operational performance Lower well costs and longer laterals 2012 Program 896 MM capex…
Eagle Ford Improving Performance Rig days (spud to release) Stimulation Well cost (MM/well) (stages/day) Lateral 19 4.3 10.1 (feet) 15 3.4 14 9.5 5,400 2.3 4,900 8.8 4,600 2010 2011 2012 YTD 2010 2011 2012 YTD 2010 2011 2012…
Eagle Ford Delivering Results Mboe/d Significant production growth 25.0 Gas NGL Oil Focused on central area 20.0 which is in full development 15.0 Increasing activity levels 10.0 Recently added 5th rig Early performance of 60…
Wolfcamp Largest oil inventory in portfolio Three different zones Currently shooting 3D seismic Improving efficiencies 2012 Program 204 MM capex Drilling 15 wells 138,000 total net acres1 1 rig now, adding 1 in 4Q 148 Bcfe…
Wolfcamp Focused Execution Rig days (spud to release) Stimulation (stages/day) Well cost (MM/well) 28 11.0 5.1 4.8 Lateral 17 17 7.7 7.6 (feet) 3.3 7,300 6,100 6,500 2011 2012 YTD Last 5 Wells 2011 2012 YTD Last 5 Wells…
Further Potential in Midland Basin TANSILL YATES SEVEN RIVERS Wolfcamp development plan has been QUEEN GRAYBURG consistent with Eagle Ford/Haynesville SAN ANDRES CLEARFORK PERMIAN Now in full development upper SPRABERRY…
Altamont Legacy oil asset with large inventory Operator of largest acreage position in field Improving capital performance Vertical development in Uinta Basin Active recompletion program 2012 Program 181 MM capex 176,000…
Favorable Outlook Business supported by premier asset base Dramatic oil growth continues Significant inventory of high return opportunities Top tier operating performance Robust hedge program protects cash flow 1.9 billion of…
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