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March 2014 Coporate Presentation – Sanchez Energy Corp

Sanchez Energy Corp · Mar 10, 2014 · 31 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. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 1
    Corporate Presentation March 2014
  2. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 2
    Sanchez Energy Overview Market Cap (1) 1,400 MM Enterprise Value 2,215 MM Eagle Ford Shale Net Acreage: 120,000 acres 1P Reserves: 59 MMBoe Production: 19,000+ Boe/d Significant Growth 4Q13 production grew 904% YOY Oil Weighted…
  3. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 3
    Strong Growth in Production and Proved Reserves Average Daily Net Production (Boe/d) Proved Reserve Growth (MMBoe) 70 30,000 PD PUD 60 59 23,000 - 25,000 20,000 21,000 - 50 18,000 43 20,000 58% 40 MMBoe 15,000 70% 30…
  4. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 4
    Oil Concentrated Reserves And High Cash Margins Crude oil represents 77% of reserves (88% crude oil and NGLs) Reserves by Product Mix Realized Price Vs. Unhedged Cash Margins (/Boe) (1) (2) 75.18 Taxes 3.69 LOE 8.42 Cash G&A 5.12…
  5. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 5
    Capital Expenditures Focused On Eagle Ford 2014 Operating Capital Plan (MM) Gross % of % of Full Year Net Wells Net Wells Operating D&C Project Area Rig Count Spud Completed Capex Capital Capital Marquis 3.0 35 32 300 - 315 46% 48%…
  6. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 6
    Full Year 2014 and 1Q14 Guidance Full Year 2014 Guidance Metrics Range Production Guidance (Boe/d) Full Year 2014 Average 21,000 - 23,000 Full Year 2014 Operating Cost & Expense Guidance (/Boe) Oil & Natural Gas Production Expenses…
  7. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 7
    Eagle Ford Shale 8 2013 Sanchez Energy Corporation
  8. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 8
    The Eagle Ford Shale Core Focus Area SN Eagle Ford Position Summary Net Acres 120,000 Current Production (Boe/d) 19,000+ Gross Drilling Rigs 7 Gross Producing Wells 200 9 2014 Sanchez Energy Corporation
  9. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 9
    Wycross Overview Acreage & Inventory Wycross Acreage Total Net Acres 3,600 Average Working Interest 60% Average Net Revenue Interest 45% Wycross 40 acre Pilot 30 Day IPs From 30 Day IP of Planned Well Spacing (Acres) 40 15 Wells…
  10. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 10
    Marquis Overview Acreage & Inventory Marquis Area Acreage Total Net Acres 69,000 Prost Area Average Working Interest 100% 30 Day IPs From Average Net Revenue Interest 75% 24 Wells (Boe/d) Planned Well Spacing (Acres) 60 Net…
  11. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 11
    Palmetto Overview Acreage & Inventory Palmetto Area Acreage Total Net Acres 9,500 Average Working Interest 50% Palmetto 30 Day IPs From Average Net Revenue Interest 37% 51 Wells (Boe/d) Planned Well Spacing (Acres) 40 Net…
  12. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 12
    Cotulla Overview Acreage & Inventory Cotulla Area Acreage Total Net Acres 38,500 Average Working Interest 90% Alexander Ranch 30 Day IPs From Average Net Revenue Interest 66% 34 Wells (Boe/d) Planned Well Spacing (Acres) 40 Net…
  13. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 13
    Tuscaloosa Marine Shale 14 2013 Sanchez Energy Corporation
  14. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 14
    Tuscaloosa Marine Shale TMS Transaction Eagle Ford to TMS Trend Sanchez Energy acquired 40,000 net acres in the core of the TMS and is in a 50/50 joint venture and AMI with Sanchez Resources, the JV that currently holds 115,000 gross,…
  15. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 15
    TMS Acreage Position and Activity 2014 Capital Plan SN anticipates spudding up to 4 gross (2 net) operated wells and participating in 10 - 15 gross non-operated wells with working interests ranging from 1% - 25% First SN operated well…
  16. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 16
    Operations and Financial Overview 17 2013 Sanchez Energy Corporation
  17. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 17
    Operational Focus on Efficiencies The move to pad drilling across our assets has reduced costs and increased efficiencies Multi-Well Pad Drilling Cash Operating Cost / Boe 100% 90% 45.06 80% 75% 4.78 36.74 9.37 60% 4.53 7.26…
  18. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 18
    Downspace Testing Across Portfolio Net PUD Reserve Current Locations Report Number of Development Booked Spacing 40 Acre Plan Spacing Utilizing 3D Seismic Area (12/31/13) (Acres) Test Wells (Acres) Microseismic Coverage Palmetto…
  19. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 19
    Top Quartile EBITDA Margins Oil Driven Production 73% of 4Q13 production was crude oil (86% including NGLs) Premium Pricing 93% of oil is sold on LLS pricing Low Transportation Costs - 50% of oil sold into pipelines; multiple sales…
  20. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 20
    Ample Liquidity To Fund Our 2014 Capital Plan Current liquidity of 479 million 4Q13 Capitalization Table & Liquidity (MM) 154 million in cash As of 12/31/2013 400 million borrowing base with an Cash and Equivalents 154 elected…
  21. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 21
    Summary Investment Considerations Rapidly Growing Base Of Oil Production And Proved Reserves Focused on manufacturing efficiency and driving down costs 120,000 Net Acres In The Eagle Ford With 1,800+ Net Identified Locations…
  22. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 22
    Appendix 23 2013 Sanchez Energy Corporation
  23. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 23
    Capitalization Summary Revolving Credit Facility (due 2018) 400 MM borrowing base with an elected commitment of 325 million and an interest rate of LIBOR + 1.50% - 2.50% 0 MM drawn at end of 4Q13 Consortium of 10 banks Restrictive…
  24. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 24
    Hedge Summary & Philosophy We maintain an active hedging program to help support capital spending, protect cash flow, and ensure strong financial coverage metrics Currently have 3.5 million barrels hedged for 2014 at an average…
  25. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 25
    NonGAAP Reconciliation and Measures Reconciliation of Net Income (Loss) To Adjusted EBITDA (M) 3 Months Ended 4Q13 Net Income (Loss) 14,202 Plus: Interest Expense 13,321 Depreciation, Depletion, Amortization, And Accretion…
  26. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 26
    Project Area Type Curves 27 2013 Sanchez Energy Corporation
  27. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 27
    Wycross Area Type Curve & Economics Wycross Area Type Curves and Well Economics 1,200 550 MBoe EUR 8.0 MM Capex Oil Price ( / Bbl) 80.00 90.00 100.00 NPV-10 (MM) 5.2 7.1 9.1 1,000 IRR 46% 66% 90% Average Monthly Production…
  28. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 28
    Marquis Area Type Curve & Economics Marquis Area Type Curves and Well Economics 1,200 550 MBoe EUR 9.0 MM Capex Oil Price ( / Bbl) 80.00 90.00 100.00 NPV-10 (MM) 4.2 6.2 8.2 1,000 IRR 33% 48% 65% Average Monthly Production…
  29. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 29
    Palmetto Area Type Curve & Economics Palmetto Area Type Curves and Well Economics 1,500 750 MBoe EUR 8.0 MM Capex Oil Price ( / Bbl) 80.00 90.00 100.00 NPV-10 (MM) 9.6 12.2 14.8 1,250 IRR 103% 142% 188% Average Monthly Production…
  30. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 30
    Cotulla Area Type Curve & Economics Cotulla Alexander Ranch Area Type Curves and Well Economics 900 500 MBoe EUR 7.0 MM Capex Oil Price ( / Bbl) 80.00 90.00 100.00 NPV-10 (MM) 2.6 4.1 5.5 750 IRR 27% 39% 53% Average Monthly…
  31. March 2014 Coporate Presentation – Sanchez Energy Corp – slide 31
    TMS Area Type Curve & Economics TMS Area Single Well Economics TMS Area Development Well Economics 800 MBoe EUR 15.0 MM Capex 800 MBoe EUR 10.0 MM Capex Oil Price ( / Bbl) 80.00 90.00 100.00 Oil Price ( / Bbl) 80.00 90.00 100.00…

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