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THE OIL AND GAS CONFERENCE – Resolute Energy Corp

Resolute Energy Corp · Aug 26, 2010 · 27 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. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 1
    The Oil and Gas Conference August 2010 Denver, Colorado NYSE: REN
  2. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 2
    Resolute Overview y Market capitalization1 615.4 million Picture goes here y Long term debt2 119.1 million y Shares outstanding 54.9 million y Debt to total market cap 19.3% y SEC case proved reserves3 64 MMBoe y Oil 77% y NGL…
  3. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 3
    Why invest in Resolute y Experienced management with a successful track record y Liquids weighted (90% liquids) domestic onshore exploration and production company y Attractive core properties y Proved R/P = 23 years y Organic growth…
  4. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 4
    Property Overview y Year-end 2009 SEC case1 y Proved reserves: 64 MMBoe y PV10 480 million y Year-end 2009 strip case1 y Proved reserves: 83 MMBoe y PV10: 1.1 billion y Q1 2010 net production: 7,062 Boe per day y Q2 2010 net…
  5. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 5
    Aneth
  6. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 6
    Resolute Aneth Field Properties y Large field with long production history y Discovered in 1956 y 1.5 billion Bbl original oil in place y Production to date of 419 million barrels (29%) y Expected recovery including only proved…
  7. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 7
    Aneth Field Properties SEC case reserves by product SEC case reserves by category NGL 12% Gas 6% PDP 33% PUD 49% Oil 82% PDNP 18% Year-end 2009 SEC case1 Year-end 2009 strip case1 y Proved reserves: 60 MMBoe y Proved…
  8. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 8
    Existing and New CO2 Flood Projects Aneth Unit Pilot CO2 flooded since 1998 Aneth Phases 1, 2 and 3 Completed in 2008/09 Currently under injection McElmo Creek Unit CO2 flooded since 1985 Aneth Phase 4 Begin work in 2010 First…
  9. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 9
    Demonstrated CO2 Response McElmo Creek Unit CO2 response Aneth Unit CO2 response 1,000,000 3,200 40 3,000 35 2,800 30 Monthly Volume (Bopm) 2,600 25 Daily Rate (Bopd) Well Count 100,000 2,400 20 2,200 15…
  10. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 10
    Continuing Development of Aneth Projects McElmo Creek Unit Desert Creek IIC Initial production from recompletion and CO2 flood project 2,600 2,500 2,400 2,300 2,200 Daily Rate (Bopd) 2,100 2,000 1,900…
  11. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 11
    Significant Organic Upside Resolute Aneth annual net production MBoe (SEC case at December 31, 2009) PDP PDNP PUD 4,000 AGR 15% C 3,500 3,000 2,500 2,000 1,500 1,000 500 0 2010 2011 2012 2013 2014 y Production from…
  12. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 12
    Wyoming
  13. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 13
    Wyoming - Hilight Field 2009 SEC case reserves by product by category PUD 1% Oil 23% Gas 51% NGL 26% PDP 57% Location Map PDNP 42% Wyoming 20 miles y 2009 Year-end SEC case1 y Proved reserves 5 MMBoe y Acquired in July 2008…
  14. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 14
    Hilight Field Growth Opportunities y Muddy refrac program y Five wells recently refraced Termo y Seven additional planned for 2010 y Mowry shale y Emerging shale oil play y Five recently drilled Mowry wells, four producing oil…
  15. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 15
    Bakken
  16. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 16
    Bakken PlayWilliston Basin y Resolute owns 70,000 gross (25,000 net) acres in Williams and McKenzie Counties, North Dakota 50 miles CANADA y Resolute and GeoResources joint project MT ND to develop Bakken acreage in Williams…
  17. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 17
    Bakken Development Project Three joint venture wells and one small interest well scheduled to drill in 2010 Permitted wells in which Resolute owns interests Immediately south of AMI: y Five completed wells have reported initial…
  18. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 18
    Bakken Development Project Resolute has WI in four permitted wells scheduled to be drilled before year end. Permitted wells in which Resolute owns interests y Three wells operated by G3 Operating (GeoResources) G3 y Working…
  19. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 19
    Financial Overview
  20. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 20
    Pro Forma Summary Financials ( in millions, except as noted) 2007 2008 2009 Q1 2010 Q2 2010 Sales volumes 1 1 1 Total MBoe 2,760 2,823 2,715 636 661 2 Revenue including hedging 170.9 206.0 139.0 39.0 39.2 Expenses 3 Operating…
  21. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 21
    Pro Forma Margins/Cost Structure ( per Boe) 2007 2008 2009 Q1 2010 Q2 2010 1 Revenues 61.91 72.99 51.21 61.36 59.32 Expenses 2 Operating expenses 16.69 20.06 18.38 20.75 18.33 Taxes 7.42 10.42 6.92 9.95 8.79 3 2.15 3.29 3.35…
  22. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 22
    2010 Guidance y 2010 estimated production: 2.7 to 2.8 MMBoe y Daily rate 7,400 to 7,700 Bbl per day y Revenue weighted y Volume weighted y % Oil 86% % Oil 77% y % Oil and NGL 91% % Oil and NGL 84% y Operating and overhead expenses y…
  23. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 23
    Resolute Investor Contacts
  24. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 24
    Resolute Investor Contacts HB Juengling Vice President Investor Relations (hbjuenglingrnrc.net) Theodore Gazulis Senior Vice President and Chief Financial Officer (tgazulisrnrc.net) Nicholas J. Sutton Chief Executive Officer…
  25. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 25
    Conclusion and Q&A
  26. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 26
    Appendix A Economic Parameters y SEC case economic parameters y Oil 61.18 per Bbl (NYMEX) y Gas 3.87 per MMBtu (Henry Hub) y Strip case economic parameters Oil Gas /Bbl /MMBtu 2010 82.30 5.77 2011 86.13 6.31 2012 87.99 6.48…
  27. THE OIL AND GAS CONFERENCE – Resolute Energy Corp – slide 27
    Appendix B Reconciliation of Non-GAAP Measures Three months ended Year ended December 31, March 31, June 30, ( in millions) 2007 2008 2009 2010 2010 Net income (loss) (104.4) (90.4) (52.9) 4.7 19.1 Adjustments: Interest 35.9 33.1…

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