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Global Hunter Securities Energy Conference – Clayton Williams Energy Inc.

Clayton Williams Energy Inc. · Jun 25, 2013 · 28 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 Energy Conference – Clayton Williams Energy Inc. – slide 1
    GHS 100 Energy Conference June 25, 2013 Clayton Williams Energy, Inc. NASDAQ: CWEI www.claytonwilliams.com
  2. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 2
    Company Overview CWEI as of 3/31/13 Asset Overview Market Cap: 532.0 million Oil focused strategy Enterprise value: 1.4 billion Developmental drilling program in proven oil producing areas Proved Reserves at 12/31/12: 75.4 MMBOE Own…
  3. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 3
    Proved Reserves (SEC Case) at 12/31/2012 Reserve replacement of 365% Reserve Life 13 years Trend is towards higher concentration in oil By Location Proved Reserves (MMBOE) 100% 4% 3% 3% 70 15% 17% 13% 22% 60 75% 26% 50 50% 40…
  4. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 4
    2013 Capital Budget 2013 Capital Budget 2013 Drilling & Completion 246.7 million* 211.1 million Drilling & Completion 211.1 Eagle Ford Shale 77.2 Permian Basin 115.2 Leasehold & Seismic 35.6 Other 18.7 5
  5. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 5
    Summary of Hedges Swaps: Oil Gas Bbls Price MMBtu (a) Price Production Period: 2nd Quarter 2013 648,000 93.94 390,000 3.34 3rd Quarter 2013 300,000 104.60 360,000 3.34 4th Quarter 2013. 300,000 104.60 330,000 3.34 2014.. 600,000…
  6. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 6
    Capitalization and Liquidity As of ( millions) 3/31/2013 Cash & Equivalents 18.6 BB Revolver due 2019 495.0 Total Secured Debt 495.0 7.75% Senior Notes due 2019 349.6 Total Debt 844.6 Shareholders' Equity 337.4 Total…
  7. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 7
    Achieving Balance Capital Requirements Capital Resources Asset Rich Highly Leveraged o Significant positions in o Outspent cash flows by 460 resource plays million in 2 years Wolfbone o Lack capital resources to meet Eagle Ford…
  8. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 8
    Operations Overview 9
  9. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 9
    Desta Drilling 14 Rigs 7 1300 HP Rigs - Triples Drills vertical & horizontal wells Rated to 14,000 5 1300 HP RG Rigs Drills vertical & horizontal wells Rated to 13,500 2 1000 HP RG Rigs Drills vertical & horizontal wells Rated…
  10. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 10
    CWEI Core Development Areas CWEI has strong positions in the Permian Basin and Giddings Areas Emerging plays driven by resource potential and technology expansion Oil and liquid rich areas Permian Basin Giddings Area 1Q 2013 Avg…
  11. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 11
    Permian Basin Properties Developing Areas Andrews County Fuhrman-Mascho San Andres Andrews County Loco Hills Wolfberry Yeso Warwink Bone Springs Glasscock/Sterling County Wolfberry/Cline Shale Reeves/Loving County…
  12. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 12
    Permian Basin Delaware Basin Oil Play Area Overview Emerging oil rich resource play 85 wells spud to date 70 vertical 15 horizontal Over 400 potential locations using 160 acre spacing 80 acre development both vertical &…
  13. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 13
    Permian Basin - Delaware Basin Oil Play Vertical Wells Wolfbone Activity 1 rig currently drilling Bell Delaware Mountian Group Canyon Vertical & horizontal well program with multi-stage frac Cherry Guadalupian Canyon…
  14. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 14
    Reeves County Horizontal Activity Shell ROSE OXY BHP Atlantic EXL Arabella Chevron CXO 15
  15. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 15
    Decreasing Vertical Well Costs 6,000,000 5,500,000 5,000,000 4,500,000 4,000,000 3,500,000 3,000,000 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63 Well 16
  16. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 16
    Reeves County Pipeline System Gas 70 miles 3 to 8 diameter 25,000 MMCF/D capacity Oil 71 miles 3 to 8 diameter 18,000 BOPD capacity Salt Water Disposal 65 miles 3 to 6 diameter 20,000 BWPD capacity 1 CWEI disposal…
  17. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 17
    Permian Basin East HOWARD MITCHELL DVN Area Overview Midland Basin Primarily Glasscock & Sterling APA Counties 37,000 net acres 22 Vertical Wolfberry wells drilled or participated in 7,000 to 9,000 depth 1 Cline Shale…
  18. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 18
    Permian Basin Future Exploitation Opportunities Area Overview Flying M Field Lea County, NM East & South Huntley Fields CWEI controls operations Garza County, TX Yates, Queen, Grayburg & San Andres Formations Cover…
  19. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 19
    Giddings East Texas Giddings Area Area Highlights Legacy Austin Chalk Area Vertical wells in 70s & 80s Horizontal wells from 90s to present 177,000 Net Acre Position Resource Potential in Eagle Ford Shale Early stages of…
  20. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 20
    Giddings Eagle Ford Shale Giddings Area Activity Sarah Ferrara 1 Thomas Horizontal wells Scasta 2 Well cost: 5.5 MM 100% working interest Buckman Batten 9 wells on production Balcar 1 Viola 1 well completing Edward Davis 1 1…
  21. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 21
    Key Takeaways Focused on oil Significant acreage position in the Permian Basin & Giddings Areas Large resource drilling inventory Strategic actions to reduce debt in 2013 Plan to achieve balance between future drilling…
  22. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 22
    Appendix 23
  23. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 23
    Guidance Estimated Ranges Year Ending December 31, 2013 (Dollars in thousands, except per unit data) Average Daily Production: Oil (Bbls) ......................................................... 9,200 to 9,400 Gas (Mcf) (a)…
  24. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 24
    Historical Production & Operating Metrics Year ended December 31, 2010 2011 2012 Production: Oil and NGL (MBbls) 3,667 4,002 4,254 Natural Gas (MMcf) 10,750 8,594 8,072 Total Production (MBoe) 5,459 5,434 5,599 Operating Metrics…
  25. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 25
    Historical Financial Summary Year ended December 31, ( thousands, except per unit statistics) 2010 2011 2012 Average Realized Prices: Oil (/Bbl) 76.44 92.43 90.97 Gas (/Mcf) 5.17 5.30 3.59 NGL (/Bbl) 42.47 53.37 38.95 Price After…
  26. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 26
    EBITDAX Reconciliation to Net Income Year ended December 31, ( thousands) 2010 2011 2012 Net income 36,938 93,823 35,103 Interest expense 24,402 32,919 38,664 Income tax expense (benefit) 20,634 52,142 22,008 Exploration: Abandonments…
  27. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 27
    Historical Credit Metrics Debt/Prov. & Prov. Dev. Reserves (/Boe) Debt / EBITDAX 20 18.67 3.4x 16 13.49 12 11.17 10.74 8.23 1.6x 1.6x 7.54 8 4 - 2010 2011 2012 Debt / Proved Reserves Debt / Proved Developed Reserves 2010…
  28. Global Hunter Securities Energy Conference – Clayton Williams Energy Inc. – slide 28
    Contact Information: Clayton Williams Energy, Inc. www.claytonwilliams.com Patti Hollums Director of Investor Relations 432.688.3419 phollumsclaytonwilliams.com 29

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