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EnerComs Oil Gas Conference – Callon Petroleum Co.

Callon Petroleum Co. · Aug 13, 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. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 1
    Callon Petroleum Company CORPORATE PRESENTATION AUGUST 2012 NYSE: CPE Callon Petroleum Corporate Presentation
  2. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 2
    Callon Overview CALLON PETROLEUM COMPANY (CPE) SEC PV-10 (12/31/11): 310MM Permian Basin 16 MMBOE Proved Reserves (70%+ liquids) Foundation of onshore strategy Current Production: 4,700 Boepd 28,416 net acres (100% operated) Total…
  3. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 3
    Successful Onshore Transition Onshore Growth (2009 Inception) 147MM onshore investment Redeployed offshore cash flow 14/Boe onshore field level F&D Increased reserves by 65% Replaced GoM Shelf production Offset high-rate, natural…
  4. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 4
    Deepwater GoM Overview CPE WI: 15% CPE WI: 11.25% 2,200 Water Depth 2,013 Water Depth Spar Facility Subsea Tie-back (Auger TLP) MEDUSA HABANERO Field Overview Planned Activity MC 582 First production: 2003 Scheduled maintenance…
  5. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 5
    Deepwater GoM Benefits Production stability and incremental opportunities Ongoing recompletions/sidetracks Leverage existing infrastructure Unique assets for an independent company Deepwater lives typically 20 years+ Solid capital…
  6. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 6
    Permian Operations 30,000 Net Acres 100% Operated Production Dedicated Technical and Operational Team 7 NYSE: CPE Callon Petroleum Corporate Presentation
  7. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 7
    Permian Footprint Highlights Vertical Wolfberry program Remaining net (40-acre) locations: 110 Current net rate: 1,600 Boepd (+25% vs YE11) 100% HBP by year-end 2012 Redeploying capital to horizontal drilling High-grading at Pecan…
  8. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 8
    Shale Play Comparison SHALE FORMATION / REGIONAL PLAY TYPE PARAMETER Cline Wolfcamp Bakken Barnett Eagle Ford Niobrara (All Zones) Oil Combo Basin Permian Midland Williston Fort Worth South Texas DJ Basin Age Pennsylvanian Permian…
  9. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 9
    Permian Multi-Zone Horizontal Opportunities Southern/Central Midland Northern Midland 6,000 Lower Borden Co. 8,000 Spraberry Lower Sprayberry Dean Dean Wolfcamp East Bloxom Shale Borden Co. Wolfcamp A Kayleigh Wolfcamp Wolfcamp…
  10. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 10
    Midland Basin Wolfcamp Horizontal Activity HORIZONTAL Pioneer XBC Giddings 2041H LPI WELLS 5800 Lateral (30 Stages) A 854 BOEPD WOLFCAMP B Pioneer XBC Giddings 2073H 5800 Lateral (30 Stages) Callon Neal 651H 807 BOEPD EOG 2 2803H…
  11. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 11
    Callon Wolfcamp B Drilling Performance Upton County (Days vs Depth) Neal 321H drill First well for new Cactus rig 35 days 7,430 lateral Neal 651H drill Improvements realized 28 days 7,113 lateral Awaiting completion Targeted…
  12. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 12
    Northern Midland Horizontal Potential Northern Midland Basin Drilling Activity Increasing Borden activity + Four rigs running + Multiple horizontal and SM Energy Roy 1301H vertical targets 4,401 Lateral 520 BOEPD (30-day) Cline…
  13. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 13
    Callon Borden County Position 22 square miles of 3-D Baird Ranch/Black Magic Planned Activity seismic data 1st well (vertical) drilled Vickie Newton 3801 1H + Whole cores in Cline and Horizontal Cline Planned 6,200 Lateral…
  14. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 14
    Planned Horizontal Permian Activity East Bloxom/Reagan County Q112 Q212 Q312 Q412 2013 Finalize initial drilling plans Plan Commence drilling Drill Evaluate results Evaluation Optimize /program drilling Program Borden County…
  15. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 15
    Resulting Permian Exposure Leverage To Permian Leverage To Cline Shale Unique Exposure To Multi-Zone Permian Resource Potential Source: Stephens Inc. (May 1, 2012) 16 NYSE: CPE Callon Petroleum Corporate Presentation
  16. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 16
    Financial Review NYSE: CPE Callon Petroleum Corporate Presentation
  17. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 17
    Financial Strategy 74 million equity offering 2011 Positioning Reduced 2016 Senior Notes by 31 million Increased book equity to 201 million Borrowing base increased to 60 million 2012 Reduced 2016 Senior Notes to 97 million…
  18. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 18
    Strong Balance Sheet Capitalization (MM) Total Debt/Proved Reserves(1) Total Debt / LTM EBITDA(1,2) (1) CPE Total Debt does not include non-cash deferred credit (2) Source: Thomson ONE. Peer Group Includes: AXAS, AREX, CWEI,…
  19. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 19
    Funding Growth Initiatives Borrowing Base Growth Borrowing Base Continues To Increase With Onshore Reserve Growth 20 NYSE: CPE Callon Petroleum Corporate Presentation
  20. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 20
    Cash Reinvestment Efficiency Cash Margin Analysis Recycle Ratio 69.26 51.43 53.69 1.9x Strong Cash Margins Support Onshore Resource Capture Initiatives * (Total net capital expenditures + capitalized items) / (Total proved…
  21. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 21
    Production Breakdown 2011 Production 1H12 Production Crude Oil NGLs Natural Gas Increasing Black Oil Exposure And Hedge Positions Provide Support For Cash Margins 22 NYSE: CPE Callon Petroleum Corporate Presentation
  22. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 22
    Investor Highlights Successfully established critical mass in the Permian Leveraged operational expertise and organizational footprint Assembled multi-year inventory of operated vertical and horizontal drilling locations Positioned…
  23. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 23
    Callon Petroleum Company TRADING DATA / KEY STATISTICS Founded 1950 -- Public since 1994 (NYSE 1998) NYSE: CPE Avg. Daily Volume (3 Mo): 364,647 52-week Range: 3.02 -- 7.95 Share Price (8/7/12): 5.10 OFFICES Market Capitalization:…
  24. EnerComs Oil Gas Conference – Callon Petroleum Co. – slide 24
    Appendix EBITDA Reconciliation (MM) 25 NYSE: CPE Callon Petroleum Corporate Presentation

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