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The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc.

Carrizo Oil & Gas Inc. · Jan 4, 2012 · 24 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. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 1
    Nasdaq: CRZO Pritchard Capital Partners Energize 2012 Conference Carrizo Oil & Gas, Inc. January 4, 2012
  2. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 2
    Operating Profile Net Shale Acreage Summary Eagle Ford Shale 41,000 Niobrara Shale 58,255 Marcellus Niobrara Fort Worth Barnett 32,000 Utica Shale Shale Marcellus Shale 100,595 Shale Barnett Shale Ft. Worth Basin U.K. North…
  3. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 3
    Reserve Growth, Production Growth, and Reserve Replacement 12/31 Proved Reserves (Bcfe) Average Daily Production (Mmcfe/d) 900 841.6 120 800 100.8 100 90.5 700 601.9 600 80 70.2 502.6 500 60 400 346.7 47.9 300 40 32.1 210.0 26.3…
  4. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 4
    Reserves and Reserve Potential by Region 4,000 3,395 BCFE(2) 3,500 3,000 2,500 Net Shale Acreage Summary BCFE 2,000 Eagle Ford Shale 41,000 1,500 Niobrara Shale 58,255 1,000 Fort Worth Barnett 32,000 841 BCFE(1)…
  5. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 5
    Capital Program Eagle Ford and Niobrara will account for increase in spending Y/Y US Millions Category FY 2010 Q1-Q3 2011 FY 2011 Est. Drilling Barnett Shale 129 79 80 Marcellus Shale 8 24 30 Eagle Ford Shale 30 104 200 Niobrara…
  6. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 6
    Current Financial Position Revolving Credit Facility (due 2016) Facility effective November 2011 340 MM initial borrowing base with interest rate of LIBOR + 2.75% Consortium of 9 banks led by BNP/Paribas Restrictive covenant: Debt <…
  7. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 7
    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 Production Q4 2011 Total Volume 7,544,000 82,000 66.78%…
  8. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 8
    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…
  9. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 9
    Liquids Rich Resource Opportunities Reserve Expectations Eagle Ford Shale Acres % drillable Spacing Wells EUR/Well Target (Acres) (MBOE) Reserves (MMBOE) 41,000 90 115 321 400 128.4 Production and unproven acreage metrics from…
  10. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 10
    Eagle Ford Shale Overview Well design and expectations: 41,000 net acres in 70% liquids, 30% rich gas condensate window above Development well costs of 10,000 primarily located in 7.5 - 8.0 million LaSalle County 5,000 laterals,…
  11. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 11
    Eagle Ford Shale Gas Condensate Window Economics Type Curve Well Only 1,200 Total well cost 7.5 MM 1,000 Reserves Gross 400 MBOE (GOR=2,000) Net 300 MBOE 800 BPD, MCFD F&D Cost 25 / BOE 600 IRR 100 NYMEX Oil 67%…
  12. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 12
    Eagle Ford Shale Value Components 1.33 BOE 1.6 Mcf dry Gas 4/mmbtu 2 Mcf Recovered Recovered Assoc Gas Well Analysis Plant Liquids Per Liquids Per Component Gal Per MCF Recovery 2 MCF 2 MCF (GPM) (Gal) (Bbl) Wellhead Oil…
  13. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 13
    Niobrara Activity Map 58,255 net acres in Weld County, CO Acreage high-graded using resistivity data from deeper wells 8 wells on production, 1 flowing back completion fluids, 1 drilling First 5 wells test at rates ranging from…
  14. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 14
    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) Oil Rate (BOPD) 500 50 F&D Cost 18 / BOE 400 40 IRR (1) 100 NYMEX…
  15. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 15
    Barnett Shale Overview of Carrizos Position Tier 1 Core 32,000 net acres remaining after Tier 1 sale primarily in the Barnett core in SE Tarrant and Wise Denton Denton Counties where development economics are among best in…
  16. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 16
    Barnett Shale SE Tarrant Economics 4.4 BCF Well 5.5 BCF Well SE Tarrant Well Performance 5000 125 Total well cost 3.0 MM 3.0 MM 4000 100 Net Reserves (75% NRI) 3.3 Bcf 4.1 Bcf 3000 75 Well Count F&D Cost 0.91 / Mcf 0.73 /…
  17. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 17
    Marcellus Shale JV Operating Areas New York TLM: 11 rigs 16K Acres (w/Avista) Avg. IP 5 MMcf/d Marcellus JV UPL: 75 Hz wells Operations Avg. IP 6.4 Mmcf/d COG: 7 rigs 2 Rigs drilling in NE PA 76 producing wells, 30 WOC acreage…
  18. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 18
    Marcellus Shale Project NE Pennsylvania Susquehanna Operations 1 Rig drilling 5,000 18 stage horizontal wells along route of pipeline 2 well Bonnice pad on production 3 well Baker South pad on production Laser Pipeline Initial…
  19. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 19
    Marcellus Shale NE PA Economics NE PA Marcellus NE PA Type Curve 10000 Total well cost 6.5 MM 9000 8000 Net Reserves 7.5 Bcf Avg. Daily Prod. Rate, MCFD 7000 6000 F&D Cost 0.87 / Mcf 5000 4000 IRR 6.00 NYMEX 88%…
  20. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 20
    Utica Shale Area of Activity Carrizo/Avista Utica JV Ohio Formed to acquire acres in Utica condensate zone Capitalized from 130 to 200 million Initial 16,600 JV acres in Mercer and Trumbull counties Pennsylvania Initial…
  21. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 21
    UK North Sea Huntington Development Project Forties reservoir tested 7,940 Boe/d Appraised with 9 penetrations Currently drilling 3rd production well 3rd Party gross reserve estimate mid-point of 42 MMBOE, 15% CRZO First…
  22. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 22
    Carrizo Oil & Gas Value Proposition(1) Marcellus Barnett (excl. W Va) Eagle Ford Niobrara N Sea Total Total 3P Reserve Potential, Bcfe 1,102 1,714 578 150 82 3,593 Cumulative Production, Bcfe 97 0 4 0 0 101 Proved Reserves,…
  23. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 23
    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 Reallocating capital from…
  24. The Pritchard Capital Partners 9th Annual Energize Conference – Carrizo Oil & Gas Inc. – slide 24

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