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INVESTOR PRESENTATION – Resolute Energy Corp

Resolute Energy Corp · Mar 7, 2011 · 32 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 March 2011 NYSE: REN
  2. INVESTOR PRESENTATION – Resolute Energy Corp – slide 2
    Resolute overview Picture goes here Market capitalization1 1.0 billion Long term debt2 121.3 million Shares outstanding 54.9 million Debt to total market cap 10.8% SEC case proved reserves3 65 MMBoe Oil 78% NGL 12% Gas 10% R/P…
  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 = 24 years Organic growth…
  4. INVESTOR PRESENTATION – Resolute Energy Corp – slide 4
    Property overview Year-end 2010 SEC case1 Proved reserves: 65 MMBoe 33,000 Net Acres PV10 848 million Year-end 2010 strip case1 69,700 Net Acres Proved reserves: 78 MMBoe PV10 1.2 billion Net daily production by quarter (Boe per…
  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 422 million barrels (28%) Recovery expected to be 34% (proved reserves only)…
  7. INVESTOR PRESENTATION – Resolute Energy Corp – slide 7
    Aneth Field properties SEC case reserves by product SEC case reserves by category NGL 11% Gas 6% PUD 30% PDP 48% Oil 83% PDNP 22% Year-end 2010 SEC case1 Year-end 2010 strip case1 Proved reserves: 60 MMBoe Proved reserves:…
  8. INVESTOR PRESENTATION – Resolute Energy Corp – slide 8
    Existing and new CO2 flood projects Aneth Phases 1, 2 and 3 Aneth Unit Pilot Completed in 2008/09 CO2 flooded since 1998 Currently under injection Significant production response Aneth Phase 4 Begin work in 2010 McElmo Creek Unit…
  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 3,400 50 3,200 45 3,000 40 Aneth Phases 1, 2 and 3 substantially completed in 2,800 35 late 2008 2,600 30 First measured response in Daily Rate (Bopd) Well Count…
  11. INVESTOR PRESENTATION – Resolute Energy Corp – slide 11
    Aneth Unit phases 1, 2 and 3 CO2 injection and response 2 2 2 2 2 Key Recognizable CO2 response Cumulative CO2 injection 12
  12. INVESTOR PRESENTATION – Resolute Energy Corp – slide 12
    McElmo Creek Unit Desert Creek IIC (DC IIC) Project 2011 Activities Producers Injectors 2011 2010 2011 2010 Scheduled 4 10 12 8 Completed 0 10 0 2 Ten wells producing for one to nine months as of December 31, 2010 130 Bbl per…
  13. INVESTOR PRESENTATION – Resolute Energy Corp – slide 13
    Demonstrated Response McElmo Creek Unit McElmo Creek Unit Desert Creek IIC recompletion response 3,000 2,800 2,600 Daily Rate (Bopd) 2,400 2,200 2,000 1,800 Jan-2010 Apr-2010 Jul-2010 Oct-2010 Jan-2011…
  14. INVESTOR PRESENTATION – Resolute Energy Corp – slide 14
    Significant organic upside Production from proved developed reserves essentially flat over next five years. Total capital to support proved developed reserves over next five years = 53 million Average annual maintenance capital of…
  15. INVESTOR PRESENTATION – Resolute Energy Corp – slide 15
    Wyoming
  16. INVESTOR PRESENTATION – Resolute Energy Corp – slide 16
    Wyoming - Hilight Field 2010 SEC case reserves by product by category Oil 13% PUD 21% Gas 60% NGL 27% PDP 57% Location Map PDNP 22% 20 miles Wyoming 2010 Year-end SEC case1 Proved reserves 5 MMBoe PV10: 53 million…
  17. INVESTOR PRESENTATION – Resolute Energy Corp – slide 17
    Hilight Field growth opportunities Muddy refrac program Seven wells refraced in 2010 Termo Six additional refracs planned in 2011 Emerging Mowry oil shale play Wells in Hilight had fractures and oil shows 400 penetrations, many…
  18. INVESTOR PRESENTATION – Resolute Energy Corp – slide 18
    Big Horn Mowry Activity and Resolute Acreage Big Horn Basin Mowry Play Regional Location Map 70,000 federal Mowry Oil Play Area (green) acres with five years remaining and Resolute Acreage (yellow) term Cirque Resources Plan to…
  19. INVESTOR PRESENTATION – Resolute Energy Corp – slide 19
    Bakken
  20. INVESTOR PRESENTATION – Resolute Energy Corp – slide 20
    Williston Basin Bakken Trend Resolute project areas Acreage Geo Resources JV 91,084 gross acres (New Home II) 33,415 net acres Three leased areas Rough Rider New Home Parshall Paris Shep Shep Acreage Drilling Elm…
  21. INVESTOR PRESENTATION – Resolute Energy Corp – slide 21
    Williston Basin New Home (GeoResources JV) Acreage 68,713 gross acres Newfield Three Forks IP: 91 Boepd 23,527 net acres Newfield drilling ahead on first of four permitted locations State lease sale T159N-R101W: 2,000/acre…
  22. INVESTOR PRESENTATION – Resolute Energy Corp – slide 22
    Williston Basin Paris (Marathon farm out) Acreage 19,000 gross acres Newfield Megamouth 1-8H IP: 2,673 Boepd 8,425 net acres WI: 6.25% 2010 Marathon wells Newfield Watson 14-32H Newfield (Tfks) IP: 1,686 Boepd IP: 2,497…
  23. INVESTOR PRESENTATION – Resolute Energy Corp – slide 23
    Financial Overview
  24. INVESTOR PRESENTATION – Resolute Energy Corp – slide 24
    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…
  25. INVESTOR PRESENTATION – Resolute Energy Corp – slide 25
    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…
  26. INVESTOR PRESENTATION – Resolute Energy Corp – slide 26
    2011 Guidance 2011 estimated production: 2.95 3.05 MMBoe Daily rate 8,000 to 8,400 Boe per day Revenue weighted Volume weighted % Oil 90% % Oil 81% % Oil and NGL 94% % Oil and NGL 86% Operating and overhead expenses Lease…
  27. INVESTOR PRESENTATION – Resolute Energy Corp – slide 27
    Resolute Investor Contacts
  28. INVESTOR PRESENTATION – Resolute Energy Corp – slide 28
    Resolute investor contacts HB Juengling Vice President Investor Relations (hbjuenglingresoluteenergy.com) Theodore Gazulis Senior Vice President and Chief Financial Officer (tgazulisresoluteenergy.com) Corporate Headquarters: 1675…
  29. INVESTOR PRESENTATION – Resolute Energy Corp – slide 29
    Conclusion and Q&A
  30. INVESTOR PRESENTATION – Resolute Energy Corp – slide 30
    Appendix A Economic parameters SEC case economic parameters Oil 79.43 per Bbl (NYMEX) Gas 4.38 per MMBtu ( Henry Hub) Strip case economic parameters Oil Gas /Bbl /MMBtu 2011 93.30 4.59 2012 93.95 5.08 2013 92.95 5.33 2014…
  31. INVESTOR PRESENTATION – Resolute Energy Corp – slide 31
    Appendix B Reconciliation of non-GAAP measures ( in millions) 2007 2008 2009 Q1 2010 Q2 2010 Q3 2010 Net income (loss) (104.4) (90.4) (52.9) 4.7 19.1 (7.1) Adjustments: Interest 35.9 33.1 4.3 1.1 1.3 1.3 Taxes 1.7 (18.2) (31.7) 2.7…
  32. INVESTOR PRESENTATION – Resolute Energy Corp – slide 32
    Quarterly prices and volumes Product prices and production volumes Quarterly data for 2009 and 2010 2009 2010 First Second Third Fourth First Second Third Average prices: Crude oil ( per Bbl) 36.83 53.19 61.75 69.48 72.38 71.53…

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