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Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc.

Carrizo Oil & Gas Inc. · Jun 25, 2012 · 25 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. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 1
    Nasdaq: CRZO GHS100 Energy Conference Carrizo Oil & Gas, Inc. June 25, 2012
  2. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 2
    Operating Areas Net Acreage Summary Eagle Ford Shale 46,000 Niobrara Shale 61,500 Niobrara Utica Marcellus Formation Shale Shale Barnett Shale 12,500 Marcellus Shale 100,595 Huntington Field Barnett Shale Development…
  3. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 3
    Reserve Growth, Production Growth, and Reserve Replacement 12/31 Proved Reserves (Bcfe) Average Daily Production (Mmcfe/d) 1000 140 935.6 123.4 900 841.2 120 800 100.8 700 100 90.5 601.9 600 80 70.2 502.6 500 346.7 60 47.9…
  4. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 4
    Liquids Strategy On Track Q1 2012 oil production was 91% higher than the prior quarter; Q2 oil production guidance is for an additional 18% sequential growth Q2 2012 revenues from oil production are expected to be over 70% of total…
  5. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 5
    Reserves and Reserve Potential by Region Energy Basis (Oil:Gas 6:1) Revenue Basis (Oil:Gas 20:1) 8,000 8,000 6,892 BCFE(2) 7,000 7,000 6,000 6,000 5,000 5,000 3,840 BCFE(2) 4,000 4,000 3,000 3,000 2,000 2,000 1,174…
  6. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 6
    Capital Program US Millions Category FY 2011 FY 2012 Est. Drilling Eagle Ford Shale 195 320 Niobrara Shale 39 43 Marcellus Shale 47 62 Barnett Shale 100 15 Total Drilling 381 440 Land , Seismic & Other 111 30 North Sea 22 0…
  7. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 7
    Current Financial Position Revolving Credit Facility (due 2016) Facility revised May 1, 2012 to account for Barnett Atlas sale 325 MM initial borrowing base with interest rate of LIBOR + 2.75% Consortium of 9 banks led by BNP/Paribas…
  8. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 8
    Hedge Position Type of Volume Daily Volume Avg. Floor Avg. Ceiling Avg. Short Put Basis % of Q2 Gas Period Contract (MMBtu) (MMBtu/d) Price Price Put Price Spread Differential Forecast* Q2 2012 Total Volume 4,095,000 45,000 45.45%…
  9. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 9
    Carrizo Joint Ventures Carrizo Has Significant Experience in the Formation of Joint Ventures Joint venture with Avista Capital Partners in the Utica Shale, September 2011 Early stage land acquisition program in Utica condensate zone…
  10. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 10
    Liquids Rich Resource Opportunities Reserve Expectations Eagle Ford Shale Net Acres % drillable Spacing Wells EUR Gross/Net (Acres) (Gross/Net Reserves MBOE) (MMBOE) 46,000 95 115 380 400 / 300 152 / 113 Downspace 80 546 218 /…
  11. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 11
    Eagle Ford Shale Overview Well design and expectations: Development well costs of 7.0 - 8.0 million Eagle Ford Net Production Growth (Boe) 5,000 laterals, 18 frac stages 7,000 6,000 5,000 4,000 3,000 2,000 1,000 Trailing…
  12. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 12
    Eagle Ford Shale Gas Condensate Window Economics Well Only Type Curve 1,000 150 Total well cost 7.5 MM 900 135 Reserves Gross 400 MBOE 800 120 (GOR=2,000) 700 105 Net 300 MBOE Oil Rate (BOPD) Cum Oil (MBO) 600 90…
  13. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 13
    Eagle Ford Shale Well Performance Eagle Ford Well Performance - All Oil Wells Normalized for Eff. Lateral Length 110000 44 100000 40 90000 36 80000 32 70000 28 CUM BO 60000 24 50000 20 40000 16 30000 12…
  14. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 14
    Eagle Ford Shale Value Components 1.33 BOE 1.6 Mcf dry residue Gas 2.50/mmbtu 2 Mcf Assoc Gas Recovered NGL NGL Liquids Per Component Pricing Revenue 2 MCF (/Gal) per Bbl Oil Wellhead Oil (Gal) Ethane 0.42 4.95 2.08 Propane…
  15. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 15
    Niobrara North-east Colorado Activity Map 61,500 net acres primarily in Weld County, CO Acreage high-graded using resistivity data from deeper wells Recently acquired 2,700 net high resistivity acres in Adams County 18 wells on…
  16. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 16
    Niobrara Value Drivers Typical Niobrara electric log Our geologic model is working Oil-in-place indicators validated by Company and industry well results and core analysis Focus on geo-steering and staying in target lower B bench…
  17. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 17
    Niobrara Economics Well Only Type Curve 800 80 Total well cost 3.6 MM 700 70 Reserves Gross 250 MBOE 600 60 (GOR=1,500) Net 200 MBOE Cum Oil (MBO) 500 50 Oil Rate (BOPD) F&D Cost 18 / BOE 400 40 IRR (1) 100 NYMEX…
  18. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 18
    Barnett Shale Overview of Carrizos Position Closed sale of 35 Mmcfed to Atlas for net 187 million 12,500 net acres remaining in the Barnett core in SE Tarrant where development economics are among best in industry YE 2011 total…
  19. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 19
    Marcellus Shale JV Operating Areas New York Marcellus JV 16K Acres (w/Avista) Operations 1 Rig drilling in NE PA acreage (40% CRZO) 20 wells producing, 1 shut-in for production tubing, 6 C Counties being completed, 5 92.8K…
  20. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 20
    Marcellus Shale Project NE Pennsylvania Susquehanna Operations 21 wells with production history 1 well shut in tubing installation Plans call for 60 gross well program (operated) Gas purchaser has firm Laser Pipeline…
  21. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 21
    Marcellus Shale NE PA Economics NE PA Marcellus NE PA Type Curve 10000 4.0 Total well cost 6.8 MM 9000 3.6 8000 3.2 Net Reserves 7.0 Bcf 7000 2.8 Avg Rate (MCFD) Cum Gas (BCF) 6000 2.4 F&D Cost 0.97 / Mcf 5000…
  22. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 22
    Utica Shale Area of Activity Carrizo/Avista Utica JV Formed to acquire acres in Utica Ohio condensate zone Capitalized from 130 to 200 million Carrizo serves as operator Initial 16,600 JV acres in Mercer and Trumbull counties…
  23. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 23
    UK North Sea Huntington Development Project Forties reservoir tested 7,940 Boe/d 3 production wells drilled and tested 2 water injection wells drilled Drilling final production well 3rd Party gross reserve estimate mid-point of…
  24. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 24
    Summary Successfully executing strategy: Outstanding organic growth in reserves and production Leveraging Barnett Shale expertise into other shales Maintaining financial liquidity with JVs and asset sales 18.9 Bcf of 2012 gas…
  25. Global Hunter Securities 100 Energy Conference – Carrizo Oil & Gas Inc. – slide 25

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