Enercom Oil and Gas Conference 18 August 11-15, 2013 Denver, Colorado
Summary Pure Eagle Ford Shale producer Rapid production, revenue and profit growth Oil and condensate focused growth in reserves Strong management team and experienced partner Fully funded with capital allocation…
Eagle Ford Focused Developing highly contiguous 79,900 gross (22,000 net) acres in the Sugarkane field KEY METRICS Market Cap (1) (US) 1.33 billion 94% held by production Cash (US) 165 million Q2 2013 average production: Total…
Operational Highlights New drilling techniques enhance already strong economics Longer laterals Pad drilling Down-spaced operated Eagle Ford to 40 acres Expect 4th quarter release on non-operated increased density New completion…
Quarterly Production Growth Aurora Quarterly Net and Gross Daily Production 2012 / 2013 25,000 Average daily liquids hydrocarbons (boe/d) 20,000 Average daily gas rate (boe/d) Average Daily Production (boe/d) 15,000…
Reserves Pre-March 2013 Acquisition Net Proved Reserves at Year-End 2012 Type Oil Condensate NGLs Nat Gas Equivalent (mmbbl) (mmbbl) (mmbbl) (bcf) (mmboe) Proved Developed 5.7 3.5 3.0 22.3 15.9 Proved Undeveloped 17.4 11.9 10.7…
Operated Position 100% operated interest in 2,700 net acres in Karnes and Atascosa counties - all held by production(1) Acquired 11 producing wells 6.7 mmboe net 1P reserves, 84% liquids(2) Q2 2013 average daily gross production of…
Non-Operated Position Low risk, fully delineated Eagle Ford position 19,100 net acres (1) 800 gross proved well locations on predominantly 80 acre spacing WI% from 28% to 36% in Karnes, and 9.1% in LONGHORN - 31.9% 28,400 gross /…
Eagle Ford Infill Opportunities Well Spacing 80 660 between wells acre 10,000 12,000 vertical 60 acre 500 between wells 175 EAGLE FORD 40 330 between wells acre 330 500 40 ac For illustrative purposes only. Not 60…
Austin Chalk Horizontal Potential Well Spacing 80 660 between wells 9,650 11,650 vertical acre 160 AUSTIN CHALK 60 acre 500 between wells 175 EAGLE FORD 40 330 between wells acre 330 500 40 ac For illustrative…
Update on Increased Density and Austin Chalk Eagle Ford Down Spacing 13 wells in pilot program have 6+ months of production history Results indicate comparable performance to 80 acre type curve More than 25% of Eagle Ford wells…
Strong Economics & Balance Sheet
Development Driving Profitability Quarter by Quarter growth rates Revenue(1) (USmm) Revenue(1) (US mm) EBITDAX(2) (USmm) Average Production (boepd) CQGR 25% CQGR 26% CQGR 25% 20,380 134.2 80.4 Q2'13 15,040 Q2'13 Q2'13 127.5 75.6…
Aurora Production Mix and Netbacks Q2 2013 High Valued, Liquids weighted Gas 20% Oil 39% Based on gross Q2 2013 production of 1.85 mmboe NGL 17% Production Operating Netback US46.15/boe EBITDAX(1) US43.35/boe Cond 24% NPAT…
Well Capitalised US millions Jun 30 2013 Strong liquidity with US165mm Cash 165 cash and 200mm undrawn credit facility Credit Facility - 9.875 % Senior Notes due 2017 365 No principal maturities until 7.50 % Senior Notes due 2020…
Appendices
Hedging Summary as of August 1, 2013 Collars Swaps Total Volume (no premium) WTI (1) LLS (1) WTI (2) Hedged Oil Avg. Hedge Oil Avg. Hedge Oil Avg. Floor Avg. Cap Oil % of Estimated Hedged Price Hedged Price Hedged Price Price…
EBITDA/EBITDAX Reconciliation Three months ended LTM Jun 30, 2013 Mar 31, 2013 Dec 31, 2012 June 30, 2013 US'000 US'000 US'000 US'000 Net earnings after tax 25,694 29,611 23,798 95,116 Adjustments: Share based payments expense…
Funds from Operations Reconciliation Three months ended LTM Jun 30, 2013 Mar 31, 2013 Dec 31, 2012 Jun 30, 2013 US'000 US'000 US'000 US'000 Net profit after tax 25,694 29,611 23,798 95,116 Add/(less) non-cash items Depletion,…
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