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EnerComs Oil Gas Conference – Stone Energy Corp.

Stone Energy Corp. · Aug 13, 2012 · 23 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 – Stone Energy Corp. – slide 1
    Forward Momentum Stone Energy EnerCom The Oil & Gas Conference
  2. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 2
    Company Statistics Equity Market Value(1) 1.3 Billion Enterprise Value(1)(2) 2.0 Billion Trailing 12-month EBITDA(3) 661 Million 2014 Sub. Notes 200 Million 2017 Sr. Notes 375 Million 2017 Sr. Convertible Notes (Face Value) 300…
  3. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 3
    Proved Reserves (As of 12/31/11) 100 MMboe (602 Bcfe) Proved Developed Non-Producing PDNP PUD 32.5 MMboe 40.3 MMboe 195 Bcfe 242 Bcf 0.80/Mcfe (64% gas) Conversion cost PDP 27.6 MMboe Proved Developed 165 Bcfe…
  4. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 4
    Cash Margin (Includes Hedges) Cash Margin Current Taxes Oil * Gas Total Interest Expense Revenue per Approximate Production Taxes Percentage Hedged 2012 49% 25% 37% /Boe G&A LOE 2013 49% 17% 33% 80 2014 22% 8% 15% 74.90 2015…
  5. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 5
    2012 Highlights Pompano operational transfer to SGY March 1st, ahead of schedule Acquisition of Anadarko Pompano interest closed Pyrenees, Wideberth commenced production Drilling high impact exploration well at Parmer Successful…
  6. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 6
    Convertible Notes & Call-Spread Terms Lower Strike 55.91 393.3 300.0 1.668 (1.668) 0.000 0.000 Upper Strike 100.00 703.3 300.0 4.033 (4.033) 3.101 3.101 Issued: February 2012 Convertible Strike Price: 42.65 per share…
  7. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 7
    Stone Energy Strategy Strategy: Leverage free cash flow to: 1. Maintain stable Gulf Coast oil production and cash flow 2. Profitably grow oil reserves and production in material impact areas 3. Profitably grow gas reserves and…
  8. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 8
    2012 Capital Expenditure Budget 2012E Capital Expenditure Budget 625 MM Facilities and Recompletions P&A 27 Horizontal and Workovers Liquids rich wells 10% 8% 30% Gulf of Appalachia 8 Oil wells Mexico Shelf 16% Deep Gas…
  9. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 9
    Conventional Shelf Strategy: Maintain stable shelf oil production and generate free cash flow Planned 2012 Drilling Weeks Island Possible 2013-14 Drilling Additional Inventory Forge Pinto Hula Popper Magnum Popper Herbert…
  10. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 10
    Conventional Shelf Highlights Rig Schedule Highlights Projected stable oil production 8 well oil development drilling campaign, including 5 at SS 113 Field Workover campaign throughout the Shelf Active decommissioning (P&A)…
  11. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 11
    Deep Gas Strategy: Grow liquids rich gas reserves and production through exploration Lighthouse South Erath 2 Planned 2012 Drilling Bayou Onshore Project Possible 2013-14 Drilling Additional Inventory Trafalger La Cantera/La…
  12. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 12
    Deep Gas Highlights La Cantera 2 La Cantera 1 SGY WI 35% Highlights La Cantera: (34.5% WI) - First well producing; 27MMcf/d, 1500Bc/d - Second well at TD 1 2 Possible 4Q12 production South Erath Discovery: (16% WI) - First well…
  13. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 13
    Deep Water GOM Strategy: Acquire projects with near-term production, appraise discoveries and participate in large scale exploration prospects Pompano Producing Deep Water Properties Planned 2012 Drilling Twenty One Possible…
  14. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 14
    Pompano Development & Exploration Potential Prospects 211 Pompano Area Exploration Assets Summary of Acquisitions (BP & Anadarko) 23 exploration blocks w/ Pompano purchase Acquired 22 MMboe proved, 10.00/Boe; 83% Oil SGY…
  15. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 15
    Pompano Drilling Plans Prospective resource potential: 1-1.5 MMboe Platform Development Drilling Floating Rig Amethyst Development Drilling Prospective resource potential: 2-5 MMboe Derbio Prospective resource…
  16. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 16
    Deep Water Exploration Parmer (35% WI) Promoted drilling costs Possible subsea tieback Parmer Drilling Phinisi SGY 20% WI Enterprise SGY 20% WI Parmer Location Phinisi Working Interest SGY 20% WI SGY 20% ENI(Op)…
  17. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 17
    Appalachian Basin Marcellus Shale Play Strategy: Profitably grow liquids rich gas reserves and rate Appalachian Overview 80,000 Net Acres 12,000 net acres Proved Reserves = 170 BCFE Net Production Rate 35 MMcfe/d Katie Andie/Josie…
  18. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 18
    Appalachia 2012 Efficiencies Operational Efficiency Metrics: 2010 2011 2012Est Drilling Avg. Well Lateral Length, ft 3640 4460 5123 Drilling Avg. Spacing b/n Laterals, ft 1000 750 750 Completions Avg. Frac Stages per day 1.4 2.1…
  19. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 19
    Economic Sensitivities (Liquids Rich Marcellus) Liquid Rich Area Type Curve* Marcellus Shale Type Well - Gas Price Sensitivity* 5.0 (Liquids Rich Area) 4.5 10.00 4.0 9.00 8.00 64.7% IRR 3.5 NPV(10%), MM 7.00 3.0 54.3% IRR…
  20. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 20
    Business Development Oil / Acquisition Opportunities Alberta Bakken 35,000 net ac. Niobrara 10,000 net ac. LaSalle Unit Paradox Three Mile 35,000 net ac. Unit Acquisition Opportunities Purchase additional working…
  21. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 21
    SGY Compelling Opportunity (MMboe) Current Valuation 250 EV / EBITDA 3.0x 79 Reserves per share 2.1 Boe per share Net Debt per Boe 7 per Boe Production 50% liquids 200 Reserve Life 7 years As of 6/30/12, except reserves as of…
  22. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 22
    Appendix - EBITDA Reconciliation (In Millions) 12 Months Ending 6/30/12 Net Income 179.3 Interest expense 17.6 Income taxes 100.5 DD&A 311.4 Accretion 31.9 EBITDA 640.7 * EBITDA is defined as net earnings plus interest…
  23. EnerComs Oil Gas Conference – Stone Energy Corp. – slide 23
    Enterprise Risk Mitigation Commodity Prices Oil Natural Gas Daily Volume Daily Volume (Bbl/d) Price (MBtu/d) Price 2012 1,000 90.30 Swap Contract 2012 10,000 5.035 Swap Contract 2012 1,000 90.41 Swap Contract 2012 10,000 5.04 Swap…

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