4th Quarter & Year End 2012 Investor Update February 28, 2013
Solid Results for 2012 Successful first year for EP Energy Solid 4Q and full-year results 2012 production up 5% -- oil volumes up 55% from 2011 Proved reserves of 625 million Boe -- 50% oil and liquids 7.3 billion PV-10 value -- up…
Significant Oil Growth Continues Production (MMcfe/d) By Division By Product 38 880 841 880 35 26 841 42 655 568 720 607 76 116 162 134 192 71 4Q 2011 4Q 2012 4Q 2011 4Q 2012 Eagle Ford Southern Central Brazil…
4Q Operations Summary Production Oil NGL Capital Wells Rigs at Program (MMcfe/d)1 (Mbbl/d)1 (Mbbl/d)1 (MM) Completed2 Year-end Eagle Ford 162 18 3 294 31 5 Wolfcamp 15 2 0 54 3 2 Altamont 67 8 0 48 8 2 Haynesville 243 0 0 1 0…
Recent Developments Continue to Build Value Eagle Ford Wolfcamp Added 6th rig in February Added 3rd rig in January Development plan on 60 acre1 Development plan on 140 acre2 spacing spacing in upper Wolfcamp Rapidly growing oil…
High Returns Average Capital EUR IP 30 Working (MM) 1 (Mboe) 1 (Boe/d)1,2 IRR3 Interest Eagle Ford, Central 7.8 8.8 550 800 550 750 40 50% 89% Wolfcamp, Upper 6.2 7.2 460 505 425 500 25 40% 100% Altamont 5.0 7.0 370 470 400 550 25…
Financial Results 8
2012 Financial Highlights Launched EP Energy in May 6.6 billion of capital markets transactions Successfully re-priced 750 million term loan Closed sale of Egypt and GOM assets in June and July Completed debt registration…
4Q Summary Results ( in millions, unless otherwise stated) 4Q 2011 4Q 2012 Average Realized Sales Prices Natural Gas (/Mcf) 3.54 3.43 Oil/Condensate (/Bbl) 93.24 90.60 NGL (/Bbl) 53.23 34.51 Average Realized Sales Prices, Including…
Adjusted Cash Operating Costs And Per Unit Revenue /Mcfe 6.30 5.55 1.88 1.69 0.03 0.03 0.28 0.24 0.68 0.74 0.74 0.83 4Q 2011 4Q 2012 4Q 2011 4Q 2012 Lifting Costs G&A Production Taxes Other Taxes Physical Sales per…
Favorable Crude Oil Hedges Percentage of hedged volumes for 2013, 2014, and 2015 are based on 2013 expected domestic liquids volumes 90% 80% MMboe /bbl 93.54 91.36 40% 88.25 2013 2014 2015 Hedged Volumes Avg.…
Natural Gas Hedges Protect Cash Flow Percentage of hedged volumes for 2013, 2014, and 2015 are based on 2013 expected domestic volumes 90% 4.24 4.04 3.58 4.23 4.03 /mmbtu 3.57 60% MMboe 20% 2013 2014 2015…
Summary Successfully completed carve out and first year as EP Energy Growing oil volumes Improving operating efficiencies Programs delivering strong cash flow and excellent returns Expanded robust multi-year hedge position Added…
4th Quarter & Year End 2012 Investor Update February 28, 2013
Appendix 16
Full Year Summary Results ( in millions, unless otherwise stated) 2011 2012 Average Realized Sales Prices Natural Gas (/Mcf) 4.04 2.84 Oil/Condensate (/Bbl) 91.40 93.25 NGL (/Bbl) 53.50 36.96 Average Realized Sales Prices,…
2012 Operations Summary Production Oil NGL Capital Wells Current Program (MMcfe/d)1 (Mbbl/d)1 (Mbbl/d)1 (MM) Completed2 Rigs3 Eagle Ford 121 14 3 943 84 6 Wolfcamp 12 1 0 212 17 3 Altamont 64 8 0 172 30 2 Haynesville 291 0 0 92…
Significant Oil Growth Continues Production (MMcfe/d) By Division By Product 838 880 35 880 34 838 39 27 625 637 679 707 99 127 162 121 104 40 FY 2011 FY 2012 FY 2011 FY 2012 Eagle Ford Southern Central Brazil…
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