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TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp.

Abraxas Petroleum Corp. · Jun 10, 2013 · 26 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. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 1
    TPH Hotter N Hell Energy Conference June 2013
  2. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 2
    I. Abraxas Petroleum Overview 3
  3. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 3
    Corporate Profile NASDAQ: AXAS Headquarters......................... San Antonio EV/BOE(1,2,3) 11.16 Employees............................... 105 Proved Reserves(3)...... 29.8 mmboe % Oil/Liquids 66% Shares…
  4. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 4
    Abraxas Highlights Premier Exposure to core acreage in U.S. oil resource plays Position Significant, low-cost exposure to other emerging NAM oil resource plays Value + Low decline legacy production provides solid foundation…
  5. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 5
    Reserve / Production Summary High-quality, Long-Lived, Oil Weighted Assets Proved Reserves(1) 29.8 mmboe Production(2) 4,216 boepd Canada Canada Gulf Coast/ Gulf Coast/ 1% 3% Permian Eagle Ford Eagle Ford 24% 25% Permian 26%…
  6. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 6
    Refocusing on Oil and Liquids Production Net to AXAS(1) 4,500 4,000 3,500 3,000 81% Liquids Growth Since (Boepd) 2,500 1Q10 2,000 1,500 1,000 500 0 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12…
  7. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 7
    High Quality Assets Abraxas Petroleum Corporation Williston: Proved Reserves (mmboe)(1): 29.8 Bakken / Three Forks Proved Developed(1): 48% Liquids(1): 66% Powder River Basin: Uinta / Wind River / Niobrara, Turner Alberta,…
  8. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 8
    II. Strategic Plan 9
  9. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 9
    Strategic Plan Business Plan: As Outlined in September 2012 Presentation Focus portfolio and CAPEX on highest returning basins FOCUS Primarily Bakken, Eagle Ford, Powder River Basin, and Permian Actively pursue divestitures…
  10. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 10
    9/12 Strategic Plan - Successful Execution Status: Status: Whats Changed Early 2012 Early 2013 Focus: Bakken, Eagle Ford, Permian Divested 69.2mm(1) non-core 95% of budget focused on Core EF & Other focus: Niobrara, Canada, Texas,…
  11. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 11
    III. Asset Base Overview 12
  12. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 12
    Bakken / Three Forks Positioned in a Core Area (NorthFork) SM Abraxas Nelson 15-11H Ravin 26-35-1H 20 Stages 23 Stages 24-hr IP rate: 994 bbl/d, 1,417 mcf/d 24-hr IP rate: 1,008 bbl/d, 1,342 mcf/d Burlington XTO Morgan 21-28MBH-2NH…
  13. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 13
    Bakken / Three Forks Positioned in a Core Area (Harding) Brigham (Statoil) Sundheim 26-35-1H Whiting Recently Completed Miller 34-8-1H Results Pending 12 stages 24-hr IP Rate: 1,304 bopd, 1,023 mcfpd Brigham (Statoil) Sundheim…
  14. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 14
    Bakken / Three Forks Focused on Execution Well Objective Lat. Length Stages 30-day IP (boepd) Well Cost (mm) Status Ravin 26-35 1H Three Forks 10,000 23 391 13.0 Producing Stenehjem 27-34 1H Middle Bakken 6,000 17 688 11.5 Producing…
  15. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 15
    Bakken / Three Forks Outperforming Type Curve (NorthFork) Single Well Economics EUR (Mboe) 462 Commodity 80% oil Split 8% NGLs 11% gas D&C Cost 8.5mm Type Curve Parameters di (%) 99 b 1.5 dm (%) 7 GOR (scf/bbl)…
  16. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 16
    Eagle Ford Positioned in a Core Area (WyCross) Carrizo Abraxas J Rayes 21H Corvette C 1H 22 Stages 19 Stages 24-hr IP rate: 879 bopd, 276 mcfpd 24-hr IP rate: 1,227bopd, 488 mcfpd EOG Abraxas San Miguel A Unit 4H Cobra 1H 24-hr IP…
  17. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 17
    Eagle Ford Outperforming Type Curve (WyCross) Upcoming 40 Acre Pilot Drilled & Completed Scheduled Locations Incremental Locations Well Objective Lat. Length Stages 30-day IP (boepd) Well Cost (mm) Status Cobra 1H Eagle Ford…
  18. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 18
    Eagle Ford Outperforming Type Curve Single Well Economics EUR (Mboe) 575 Commodity 70% oil Split 11% NGLs 20% gas D&C Cost 7.0mm Type Curve Parameters di (%) 99.11 b 1.3 dm (%) 7 GOR (scf/bbl) 1,000 19
  19. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 19
    Additional Development Areas Opportunity Overview Abraxas Assets Abraxas Development Stacked pay, liquids-rich horizontal 29,170 / 21,540 gross / net acres Historical: opportunities in Campbell, Primarily in Converse and Niobrara 13…
  20. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 20
    Appendix 21
  21. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 21
    PRB Stacked Pay Opportunities Converse / Niobrara Counties, Wyoming Gross / Net Acres: 29,170 / 21,540 Brooks Draw: Primarily in Converse & Niobrara Counties Sage Grouse 3H: (Cum Oil 25 MBbl / 50 MBbl EUR) 4,300 net acres in…
  22. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 22
    Permian Basin Emerging Hz Spires Ranch (Nolan County) 5,640 gross/net acres; 920 HBPd Monitoring industry activity Geologic evaluation Logged shales through Spires 89 1H Millican Reef (Coke County) 6,725 gross/net acres…
  23. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 23
    Canada Duvernay Alberta, Canada: Eastern Shale Basin EOG Strikes Oil in Duvernay's East Shale Basin New public data for EOGs Duvernay horizontal at 1-20-38-28W4 showed a peak calendar- day rate to date of 239 boe/d for December. Oil…
  24. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 24
    Canada Duvernay 25
  25. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 25
    Abraxas Hidden Gas Portfolio Edwards (South Texas) PDP: 10.3 bcfe (net) Nordheim 2H: 7.0 bcfe gross Keuster 1H: 10.5 bcfe gross Previous risked offsetting PUD locations: 27.9 bcfe (net) 11 gross / 7 net locations dropped to PRUD…
  26. TPH Hotter N Hell Energy Conference – Abraxas Petroleum Corp. – slide 26
    NASDAQ: AXAS 27

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