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EnerCom Oil and Gas Conference – Bill Barrett Corp.

Bill Barrett Corp. · Aug 14, 2013 · 22 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. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 1
    ENERCOM OIL AND GAS CONFERENCE AUGUST 2013
  2. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 2
    Company Overview 2.3 billion enterprise value 1.1 billion market cap Proved reserves: 1.04 Tcfe 29% oil; 59% proved developed Risked resources: 2.9 Tcfe 4,000 gross drilling locations Nearly 3,000 oil drilling locations…
  3. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 3
    BBG Strategy To drive shareholder value we will: Focus on exploitation of existing large asset base Execute disciplined capital allocation program focused on competitive returns in two core oil development programs Drive…
  4. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 4
    BBG Strengths Our people and portfolio People SAFETY AND ENVIRONMENT are key priorities in conducting our operations LOW-COST, EFFICIENT OPERATOR REGIONAL EXPERTISE in permitting, geology, marketing, business development APPLICATION…
  5. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 5
    First Half 2013 Successes Driving value from core programs Northeast Wattenberg Delineation underway Technology refinements leading to better results Testing upside Uinta Oil Program 80-acre pilot program in Blacktail Ridge area…
  6. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 6
    2013 Guidance Focused capital expenditure program and oil growth Total capital of 465-485 million 2013 % Capex by Area 100% allocation to oil development Reduction of more than 450 million from 5% Uinta Oil 2012 level 10% Program…
  7. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 7
    Oil Growth: Successfully Rebalancing Portfolio Achieving excellent growth in oil reserves and production % of Production Proved Oil Reserves (MMBbls) 50.8 2013e 94% 30.6 25% 13.0 Gross Risked Oil 7.8 2013 Resource Locations…
  8. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 8
    Quality Portfolio Offers Low-risk, Long-term Growth 40% increase in gross oil locations 10% increase in risked resources (pro forma) Proved + Proved Risked Gross/Net Total Risked Resources (2012) Oil Proved Resources Drilling…
  9. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 9
    Financial Strength & Flexibility Balance sheet provides substantial liquidity 825 million bank credit facility, 80 million drawn/26 million letter of credit as of 6/30/13. Pro forma for senior note redemption, 457 million liquidity…
  10. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 10
    Hedging Provides Price Predictability Solid 2013 hedge positions, 2H13 70% of production hedged 75% of oil hedged at 97.62/Bbl 75% of natural gas hedged at 3.72/MMBtu 2014 hedges: 43.4 Bcfe hedged at weighted average 8.41/Mcfe…
  11. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 11
    PROPERTY DESCRIPTIONS: CORE OIL DEVELOPMENT PROGRAMS
  12. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 12
    Core Oil Development Programs Uinta Basin, Uinta Oil Program DJ Basin, Northeast Wattenberg Focus 2012 year-end reserves: 47 MMBoe 2012 year-end reserves:12.5 MMBoe Year-over-year exit rate oil production Year-over-year exit rate…
  13. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 13
    Growth in Production from Core Oil Programs Uinta Oil Program growth DJ Basin growth Net Production (Boe/d) Net Production (Boe/d) 9,000 4,000 6,841 7,500 2,835 3,000 6,000 4,500 2,000 3,320 3,000 1,000 500 1,500 0 0 2H11…
  14. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 14
    DJ Basin Niobrara Formation Prime land position Silo Field Northeast Wattenberg: 39,920 net acres Chalk Bluffs Wattenberg interior: 13,635 net acres Chalk Bluffs/Wyoming border: 22,580 net acres Northeast Wattenberg Driving rapid…
  15. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 15
    DJ Basin: Acreage Quality Consistent geology across acreage B bench of the Niobrara is the primary target and is present in and surrounding BBG leasehold. B bench appears to have good hydrocarbon saturation across all acreage with…
  16. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 16
    DJ Basin: Northeast Wattenberg Focus Delineation program underway Niobrara Formation Newly released single well pads completed with larger fracs and placed on artificial lift early 24-hour IP: 1,000 Boe/d 30-day IP: 517 Boe/d Three…
  17. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 17
    Uinta Oil Program: Driving Substantial Oil Growth Expanded acreage in key areas Wasatch, Green River Formations Sizable 151,650 net acres Core positions added in South Altamont N and East Bluebell area Altamont/Bluebell Roosevelt…
  18. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 18
    Uinta Oil Program Reducing Costs and Delivering Efficiencies BTR/LC Average Drilling Days BTR/LC Average Cost per Well Average Drilling Days Average Cost per Well 30 5.0 4.6 25.1 4.2 4.1 4.1 25 4.0 3.6 Dollars (Millions) 20…
  19. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 19
    Uinta Oil Program: Significant Upside 3,000-4,000 feet of stacked oil pay Current development: vertical wells on 160 acre spacing Vertical drilling needed to maximize recoveries from stacked, Green River discontinuous zones…
  20. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 20
    Powder River Deep Program Stacked oil play providing early positive test results BBG 2013 Drilling Program 161,605 gross/68,120 net acres 5 Shannon Wells Peer Results*: Avg. 30-day IP: 516 Boe/d (30-day IPs) Multiple fairways show…
  21. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 21
    Value Creation Opportunity Execution, Execution, Execution 100% capital allocation to oil development Deliver 30-35% growth in oil production Focus on two core oil programs Realize value of DJ asset: delineate acreage position,…
  22. EnerCom Oil and Gas Conference – Bill Barrett Corp. – slide 22
    THANK YOU

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