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Credit Suisse Group Energy Summit – Bill Barrett Corp.

Bill Barrett Corp. · Feb 11, 2011 · 36 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. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 1
    Credit Suisse Energy Summit February 2011 Chairman, CEO & President Fred Barrett West Tavaputs Plateau, Uinta Basin, Utah 1
  2. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 2
    Reasons to Invest in Bill Barrett Corporation Portfolio offers extensive, low risk development growth Efficient, repeatable and scalable operations West Tavaputs Record of Decision Commitment to continued exploration Exposure to…
  3. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 3
    Execution 2010 Record production 96.5 Bcfe full year 2010 Strong realized prices: 7.14/Mcfe first 9-months NGL benefit Increasing oil component Solid hedge positions Capex aligned with cash flows 473 million capital, preliminary…
  4. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 4
    Track Record of Profitable Growth Proved Reserves1 Production (Bcfe) 1,118 (Bcfe) 965 103-107 818 96.5 89.7 77.6 558 428 61.2 Dec Dec Dec Dec Dec 2006 2007 2008 2009 2010pre3 2007 2008 2009 2010pre3 2011e Reserve…
  5. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 5
    Top Tier Finding and Development Costs 2010 Capital Program Delivered Reserve Growth at Favorable F&D 3-Year Capex1 Finding and Development Costs1 (Millions) (/Mcfe) 601 1.99 3 year 525- weighted 473 565 1.76 average 406…
  6. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 6
    Solid Reserve Replacement Reflects Asset Quality and Operating Expertise 185.1 1,118.3 Bcfe 964.8 - 96.5 39.8 Bcfe 27.4 - 2.3 Drilling 2009 additions Production Acquisitions Price Engineering revisions net of revisions…
  7. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 7
    Low Risk Reserve Base Appx. Gross Increased Density Drilling Offers Reserve Growth Drilling Proved 1 3P1 Locations Bcfe Bcfe West Tavaputs, 345 1,295 700 Uinta 2 Gibson Gulch, Piceance 634 797 750 Blacktail Ridge 42 229 400…
  8. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 8
    Increasing Takeaway Capacity = Lower Rockies Differential Capacity Continues to Expand CIG to NYMEX differential (0.42) for 2011 More than 1 Bcf/d surplus capacity plus planned expansions in 2011 of 1.9 Bcf/d (Ruby 1.5, Kern River…
  9. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 9
    Improved Price Predictability through Hedging Hedge Program Supports Cash Flow Predictability Hedge natural gas at Rockies sales point indices (CIG and others) to manage basis risk Emphasis on summer months Opportunistically add to…
  10. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 10
    Increasing Proportion of Liquids Benefitting from Increasing Contributions from Oil and NGLs NGL processing added 0.64 per Mcfe to first nine-months realized price Oil production from Blacktail Ridge-Lake Canyon more than doubled in…
  11. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 11
    Development Portfolio Supports Low Risk Growth Rockies Development Key Development Assets Sizable, visible growth potential Williston Basin from existing development assets Extensive, low-risk in-fill projects Powder River Low risk…
  12. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 12
    Uinta Basin West Tavaputs EIS and ROD = Strong, Visible Growth Shallow Wasatch, Mesaverde Uinta Basin Questar interconnect UTAH Dry Canyon Questar interconnect Compressor site Interplanetary compressor site Prickly Pear…
  13. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 13
    Uinta Basin West Tavaputs Illustrative Drilling Illustrative Economics (1) and Completion Costs (1) EUR (Bcfe, gross) 2.20 Gas price per MMBtu 5.00 NRI 83% Contribution from oil 0.05 EUR (Bcfe, net) 1.83 MMBtu sale adjustment…
  14. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 14
    Driving Operating Efficiencies Success at Piceance = Opportunity at West Tavaputs Piceance West Tavaputs Reduced Drilling Days* 12.8 12.8 11.2 11.6 10.1 10.7 9.3 8.2 Days Days 5.8 5.3 2006 2007 2008 2009 2010 2006…
  15. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 15
    Piceance Basin Gibson Gulch Significant NGL Exposure Williams Fork Formation Piceance Basin Silt COLORADO 3-Component 3-D Seismic BBC acreage BBC operated gas well 10 acre density BBC non-operated gas well Non-operated gas…
  16. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 16
    Piceance Basin Gibson Gulch Illustrative Drilling Illustrative Economics (1) and Completion Costs (1) EUR (Bcfe, gross) 0.93 Gas price per MMBtu 5.00 NRI 82% Contribution from oil 0.19 EUR (Bcfe, net) 0.76 MMBtu sale…
  17. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 17
    Blacktail Ridge / Lake Canyon Growing Oil Development Wasatch, Green River Formations Uinta Basin Blacktail Ridge UTAH Infill 15-10-36 BTR Strategy 424 MBOE EUR High Gas Area 13-26-36 BTR 834 MBOE EUR 14-7-46 BTR 7-6-45 BTR…
  18. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 18
    Blacktail Ridge / Lake Canyon Numerous Upside Measures 160 Acre 80 Acre Spacing Increased Density Formation Producing Intervals TD AltaBlu CR/BTR MB BrCyn Green River Mahogany Oil Shale Horizontal well 3,000 250 Thick Lower…
  19. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 19
    Uinta Basin Blacktail Ridge Illustrative Drilling Illustrative Economics (1) and Completion Costs (1) EUR (Mboe, gross) 323.0 WTI oil price per Bbl 85.00 NRI 81% Sales adjustment to WTI (9.64) EUR (Mboe, net) 261.6 Realized price…
  20. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 20
    Uinta Basin Blacktail Ridge, Lake Canyon Strong, Continued Growth in Oil At year-end, production capacity more than 5,000 boe/d gross or 2,500 boe/d net BTR/LC Gross Production 7,000 6,000 5,000 4,000 BOEPD 3,000…
  21. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 21
    Portfolio Offers Substantial Upside Exposure and Continued Growth Through Exploration and Acquisitions Rockies Exploration Extensive Exploration Portfolio 1.2 million net undeveloped Williston Basin exploration acres Active…
  22. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 22
    Hornfrog Natural Gas Prospect Exploratory Stepout Area of Expertise Shallow Wasatch, North Horn, Price River Uinta Basin West Tavaputs Hornfrog UTAH Development Area Earn-in Area Hornfrog Prickly Pear 8-9-13-18 Gas Field TD 7,510…
  23. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 23
    McRae Gap Niobrara Oil Prospect Exploration Legacy Wind River Land Position WYOMING BBG Cave Gulch Development 1-29 Wind River Niobrara McRae Gap Prospect Basin 101,500 gross, 90,800 net acres, in BBG Bullfrog 23-6 Waltman…
  24. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 24
    Outlook Stand-alone growth visibility - development From existing, low-risk development assets West Tavaputs full-field development Expansive upside potential Development programs: extensions and additional formations Exploration…
  25. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 25
    Appendix Piceance Basin, Colorado Photo by: Jane Rerecich
  26. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 26
    Piceance Basin Cottonwood Gulch Piceance Basin COLORADO Cottonwood Gulch Acreage Grand Valley Rifle, CO 712 Bcfe cum. prod. Gibson 1.2 Bcfe/well Rulison Gulch 405 MMcfe/d 599 Bcfe cum. prod. Parachute 1.5 Bcfe/well Mamm…
  27. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 27
    Yellow Jacket/Green Jacket Shale Gas Prospects Expansive Project Area Gothic & Hovenweep Shales UT CO Paradox Current Status Basin Rose well completed 7/10; 30-day IP 1.4 MMcfe/d; continues to produce Increased ownership to 100%…
  28. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 28
    Powder River Basin CBM Big George Coal MT Powder River Basin Current Status WY Proved reserves 12/10: 61 Bcf Net production: 2010 exit rate 37 MMcf/d Acreage 12/10: 92,500 net BIG (42,340 net undeveloped) GEORGE PLAY Gillette,…
  29. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 29
    Wind River Basin Fort Union, Lance, Raderville, Niobrara, Frontier, Muddy, Lakota Formations Current Status - Basin WYOMING BBC Cave Gulch Proved reserves: 35 Bcfe (12/10) Development 1-29 Wind (Wind River total) River Basin Net…
  30. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 30
    Natural Gas and Oil Hedges - Equivalents As of January 31, 2011 SWAPS & COLLARS Period Natural Gas / NGLs Oil EQUIVALENT Volume Price Volume Price Volume Price MMBtu/d /MMBtu Bbl/d /Bbl Mmcfe /Mcfe 1Q11 152,075 6.72 1,866 90.20…
  31. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 31
    Additional Swap/Collar Format As of January 31, 2011 Natural Gas Period SWAPS COLLARS BASIS Volume Price Volume Floor Ceiling Volume Price MMBtu/d /MMBtu MMBtu/d /MMBtu /MMBtu MMBtu/d /MMBtu 1Q11 137.5 6.14 - - - 20.0 (1.72) 2Q11…
  32. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 32
    Realized Natural Gas Price COMPONENTS OF REALIZED PRICE 1Q10 EXAMPLE Henry Hub 1Q IFERC 5.30 MMBtu Differential (0.16) MMBtu CIG 1Q IFERC 5.14 MMBtu Average hedge price 6.48 MMBtu Percent hedged 69% Percent unhedged 31%…
  33. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 33
    Proved Reserve Price Sensitivities Pricing Sensitivities Year-end 2010 Due to the change in guidelines and the particularly low natural gas price used to calculate reserves compared with prior years, the Company believes it would be…
  34. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 34
    Land Summary As of December 2010 AVERAGE NET AVERAGE BBG GROSS UNDEVELOPED GROSS WORKING AREA ACREAGE ACREAGE PROJECT NRI INTEREST DEVELOPMENT Piceance - Gibson Gulch 17,615 6,815 81% 96% Uinta - West Tavaputs 44,700 26,400 83% 97%…
  35. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 35
    Typical Well Production Profiles West Tavaputs, Uinta Basin, Utah Piceance Basin, Colorado 3.00 2.00 IP-Instantaneous: 2840 Mcf/d IP-Instantaneous: 1735 Mcf/d 2.50 IP-30 day: 2441 Mcf/d IP-30 day: 1431 Mcf/d Grs MMcfed EUR: 2.2…
  36. Credit Suisse Group Energy Summit – Bill Barrett Corp. – slide 36
    Thank you for your interest in 1099 18th Street, Suite 2300 Denver, Colorado 80202 303.293.9100, fax 303.291.0420 www.billbarrettcorp.com NYSE: BBG Investor Relations contact: Jennifer Martin jmartinbillbarrettcorp.com…

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