Skip to main content IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc Investor Presentation | Shale Experts
Loading...
Pm

IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc

Energy XXI Gulf Coast, Inc · Apr 22, 2015 · 21 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. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 1
    Investor Presentation IPAA Oil & Gas Investment Symposium April 21-22, 2015 NASDAQ: EXXI www.energyxxi.com
  2. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 2
    Company Snapshot Year-to-Date Highlights Operate 96% of proved reserves Infrastructure in place to accommodate future growth Our HLS oil still commands a premium to WTI Current Metrics Enterprise Value 4.5 Billion One of the…
  3. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 3
    Enhanced Liquidity Net Cash Proceeds 2nd Lien Bonds 1.36 Billion New Credit Facility 500 MM 124 MM available Total Liquidity Post Revolver Paydown 700 MM Borrowing base reduced by EXXI ahead of redetermination Additional…
  4. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 4
    Operates 10 of the Largest GoM Shelf Oil Fields Baton Rouge Lafayette Highlander New Orleans West Main Pass Grand Isle 296/311 Delta 30 East Bay 16/18 South Timbalier 21 South Pass 78 Bayou Carlin Vermilion 164 South…
  5. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 5
    EXXI Reserves Summary Oil NGL Gas Total PV-10 Reserve category (Mmbbl) (Mmbbl) (Bcf) (Mmboe) ( in millions) Proved developed producing 88 3 132 113 3,096 Proved developed non-producing 19 3 91 37 862 Proved undeveloped 69 4 142 96 3,136…
  6. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 6
    Path Forward Focus on optimizing base production Focus on capital efficient recompletion programs Continue to reduce operating costs Low-risk capital program Pursuing asset monetization: Midstream and Non-core E&P 7
  7. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 7
    Facility Optimization on Schedule Oil to GI Gas to GI Add compressor to flow gas cap on three shut- Water to GI in wells to increase production by 10 MMCF/d WD 30 Project completed 3Q FY15 New 6 tap on 12 oil pipeline to bypass D…
  8. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 8
    South Pass 78 Success South Pass 78 Net Daily Production Currently at 4,000 BOE/d 4,500 4 4,000 3 2 3,500 1 3,000 2,500 BOEPD 2,000 1,500 1,000 4 recompletions online 500 2 recompletions April 2015 6…
  9. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 9
    Savings Approaching 170 MM Original Expectations MM Current Annualized Savings MM Year 2 Year 1 Cumulative Year 1 LOE (before insurance) 5 20 LOE (before insurance) 80 Insurance 15 15 Insurance 30 G&A 7.5 15 G&A 60 Total Savings…
  10. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 10
    Horizontal Techniques Successfully Applied West Delta 73 Proved Reserves 70 3.0 Example Horizontal Well Annual Production, MMBOE 60 2.5 Net Reserves, MMBOE 50 2.0 40 1.5 30 1.0 20 10 0.5 0 - YE2011 YE2012 YE2013…
  11. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 11
    Variable Costs Drive Incremental Economics Fixed Activities Variable Costs Manpower Chemicals Transportation - Air/Land/Marine Processing & Handling Shore Base Services Well Servicing 12
  12. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 12
    WD 73 Strong PUD Economics 20 18.23 . Total Capex: 215 MM 100% ROR 18 P/I 2.85 10% discount Based on 2/9/15 strip 16 33% 14 12 Direct LOE/BOE 10 8 6 67% 3.66 4 Variable 2 Fixed 0 Proved Developed…
  13. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 13
    Uplift Projection Drives Production Replacement West Delta 73 Fiscal 2016 PUD Drilling Program 2,500 2,000 30 day rig slide 1,500 BOE/d 1,000 500 0 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16…
  14. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 14
    Reduced Costs = Lower Maintenance Capex Current FY 2015 Projected Estimated Maintenance Capex 640-660 MM 350-400 MM Exploration 45 P&A MM 55 MM P&A 75 MM Land, Seismic & Other Land, Seismic & 35 MM Other 50 MM Development &…
  15. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 15
    Back to Basics FY 2013-2015 (Annual Average) Annual Estimated Maintenance Capex Exploration and Ultra Deep 175 million Reservoir Extension 28 million Low-Risk Low-Risk Exploitation Focus Exploitation 246 million 240 - 290…
  16. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 16
    Efficient Maintenance CAPEX 30.00 . Eliminate non-productive capital expenditures 6.80 25.00 3.30 20.00 ( / Boe) 1.72 1.64 4.53 2.34 15.00 0.94 10.00 13.48 13.09 5.00 Historical 3-Year Annual Average Annual…
  17. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 17
    Annual Production Replacement Outlook 20.0 2.3 Low-risk development 1.8 projects keep production 15.0 relatively flat year-on-year 21.5 MMBOE 10.0 16.8 5.0 Dev. Drilling PDN/Recompletes PDP - FY15 Implied 3%…
  18. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 18
    Monetization of Midstream Assets Grand Isle Station WD 30J GI 22L WD 73 ST 54G MC 268 SP 93A MC 280A Grand Isle Terminal Aerial MC 397A 19
  19. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 19
    Non-Core Divestiture Update Combined EXXI + M21K GoM Divestiture Geographically diverse across GoM Shelf EXXI EXXI Divest M21K Divestiture Highlights 16-17 Mboe/d net (6-7 Mboe/d EXXI net production) Bids received…
  20. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 20
    Crude Hedge Profile 35 30 25 WTI Collar* 20 LLS 3-Ways* MBbl/d LLS Collar 15 WTI Collar 10 WTI Put 5 0 Feb-Mar15 Apr-Dec15 Cal16 Feb Mar 15 Apr Dec 15 Cal 16 Subfloor Floor Ceiling Subfloor Floor Ceiling…
  21. IPAA OGIS 2015 NEW YORK – Energy XXI Gulf Coast, Inc – slide 21
    New Projections for 3Q and FY15 FY 2015 Volume Projections 2Q FY15 3Q FY15 FY 2015 Actuals Net Production (per day) Oil (Bbls) 41,800 41,000 44,000 41,000 44,000 including NGLs Boe 57,900 58,000 62,000 57,000 61,000 % Oil…

From the store

Browse maps, data & reports in the Shale Experts store