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Simmons Energy Conference – Rosetta Resources, Inc.

Rosetta Resources, Inc. · Feb 28, 2013 · 34 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. Simmons Energy Conference – Rosetta Resources, Inc. – slide 1
    Rosetta Resources Inc. Feb. 28 Mar. 1, 2013 REDEFINED BUILDING VALUE IN UNCONVENTIONAL RESOURCES
  2. Simmons Energy Conference – Rosetta Resources, Inc. – slide 2
    2012 Highlights Increased proved reserves 25%, from 161 MMBoe to 201 MMBoe at year- end 2012 Set record levels of equivalent production, liquids production and proved reserves; exited 2012 producing 47 MBoe/d Drilled 85 gross wells…
  3. Simmons Energy Conference – Rosetta Resources, Inc. – slide 3
    2013 Plans and Capital Program (640-700 Million1) By Region Other 5% Exploration Run five- to six-rig program in Eagle Ford area 10% Continued focus on liquids-rich development Drill 75-80 wells and complete approximately…
  4. Simmons Energy Conference – Rosetta Resources, Inc. – slide 4
    Company Strategy Leverage high-graded asset base Maintain position as a leading Eagle Ford player Develop inventory of approximately 500 MMBoe with 15 years of drilling opportunities Expand production base with about 12 percent of…
  5. Simmons Energy Conference – Rosetta Resources, Inc. – slide 5
    LEVERAGE HIGH-GRADED ASSET BASE 7
  6. Simmons Energy Conference – Rosetta Resources, Inc. – slide 6
    Significant Growth in Asset Net Resources Total Net Risked Resources Since 2009, proved reserves more than tripled; (MMBoe) total risked resources nearly tripled 700 Divested 11 MMBoe Total project inventory, including PUDs, grew…
  7. Simmons Energy Conference – Rosetta Resources, Inc. – slide 7
    Quarterly Production Performance Feb 25, 2013 2013 Guidance MBoe/d 60 52 - 56 Eagle Ford Divested/Other 47 - 51 50 44.3 44.2 40 37.1 33.8 33.4 32.0 36.5 30 26.8 32.2 25.9 25.6 30.4 24.0 24.5 27.4 22.4 20.7 20 21.6…
  8. Simmons Energy Conference – Rosetta Resources, Inc. – slide 8
    Eagle Ford Growth Profile Exit Rate Guidance (As of 12/10/2012) MBoe/d Reaffirmed 2/25/2013 60 January Average 52 - 56 MBoe/d Production 47.4 MBoe/d 29% Oil / 34% NGLs Eagle Ford production averaged 50 44.2 MBoe/d during 4Q 2012…
  9. Simmons Energy Conference – Rosetta Resources, Inc. – slide 9
    SUCCESSFULLY EXECUTE BUSINESS PLAN 11
  10. Simmons Energy Conference – Rosetta Resources, Inc. – slide 10
    Top 20 Eagle Ford Operators % of Eagle Ford Shale Production Gross Boe/d per Well 1 10.1% A 487 2 9.5% B 394 3 9.4% ROSE 394 4 8.2% D 375 5 7.8% E 341 6 7.1% F 340 7 6.6% G 308 8 4.6% H 307 9 4.4% I 304 10 4.2% J 302 ROSE…
  11. Simmons Energy Conference – Rosetta Resources, Inc. – slide 11
    Gates Ranch Summary 26,500 net acres in Webb County 96 completions as of 12/31/2012 1Q - 3Q 2012: 28 completions 4Q 2012: 12 completions 332 well locations remaining under current 55-acre spacing assumptions 20 wells drilled…
  12. Simmons Energy Conference – Rosetta Resources, Inc. – slide 12
    Well Performance on 55 acres Compared to similar offsetting wells spaced at 100 acres These 9 wells are our largest continuous group of producing These 9 wells are performing in wells spaced on 55 acres line with comparable…
  13. Simmons Energy Conference – Rosetta Resources, Inc. – slide 13
    Gates Ranch Well Performance North and South Areas South Type Curve 1.9 MMBoe Composite Type Curve 1.7 MMBoe (23% Oil / 32% NGLs) North Type Curve 1.4 MMBoe Discovery well: Shortest lateral at 3,500 and only 10 frac…
  14. Simmons Energy Conference – Rosetta Resources, Inc. – slide 14
    Eagle Ford Multiple Takeaway Options Gas Transportation Capacity Oil Transportation Capacity Firm gross wellhead gas takeaway Gates Ranch, Briscoe Ranch and Central Dimmit Co. 245 MMcf/d today Plains Crude Gathering Firm gathering…
  15. Simmons Energy Conference – Rosetta Resources, Inc. – slide 15
    TEST FUTURE GROWTH OPPORTUNITIES 17
  16. Simmons Energy Conference – Rosetta Resources, Inc. – slide 16
    South Texas Shale Activity Net Area Window Acreage Operating 5 - 6 rigs total, with 2 - 3 rigs in Gates Ranch and remainder in Briscoe Ranch, Central Dimmit County and Gates Ranch Liquids 26,500 Karnes Trough area Non-Gates Ranch…
  17. Simmons Energy Conference – Rosetta Resources, Inc. – slide 17
    Briscoe Ranch Summary Discovery Well Initial Rate* 10/2011 3,545 net acres in southern Dimmit County 1,990 Boe/d, 68% Liquids (850 Bo/d, 490 B/d NGLs, 3,900 Mcf/d) 4 completions as of 12/31/2012 3Q 2012: 3 completions 64 well…
  18. Simmons Energy Conference – Rosetta Resources, Inc. – slide 18
    Briscoe Ranch Type Curve Briscoe Ranch Daily Production 10,000 P50 Type Curve - 893 MBOE 24% Oil / 36% NGLs Daily Equivalent Oil Production(BOED) 1,000 100 0 50 100 150 200 250 300 350 400 Days 20
  19. Simmons Energy Conference – Rosetta Resources, Inc. – slide 19
    Karnes Trough Area SUMMARY Adele Dubose 1H 1,900 net acres; located in oil window Delineation Well Initial Rate* 2/2012 1,463 Boe/d, 76% Oil 17 total completions as of 12/31/2012 (1,109 Bo/d, 153 B/d NGLs, 1,200 Mcf/d) 1Q & 2Q…
  20. Simmons Energy Conference – Rosetta Resources, Inc. – slide 20
    Klotzman Type Curve Klotzman Daily Production 10000 P50 Type Curve - 665 MBOE 68% Oil / 13% NGLs Daily Equivalent Oil Production (BOED) 1000 100 0 50 100 150 200 250 300 350 400 Days 22
  21. Simmons Energy Conference – Rosetta Resources, Inc. – slide 21
    Central Dimmit County Area Vivion 1H Light Ranch 1H Discovery Well Initial Rate* 9/2011 Discovery Well Initial Rate* 10/2010 680 Boe/d, 89% Liquids 987 Boe/d, 78% Liquids (506 Bo/d, 102 B/d NGLs, 436 Mcf/d) (510 Bo/d, 260 B/d NGLs,…
  22. Simmons Energy Conference – Rosetta Resources, Inc. – slide 22
    Lopez Farm-In Summary 505 net acres in Live Oak County Farm-In from Killam Oil BPO: 100% WI, 75% NRI APO: 65% WI, 48.75% NRI Average Well Characteristics Well Costs: 7.5 - 8.0 million Spacing: 60 acres Future Activity 1 well…
  23. Simmons Energy Conference – Rosetta Resources, Inc. – slide 23
    Eagle Ford Inventory +/- 900 net wells remaining as of 12/31/2012 Central Undelineated Gates Ranch Briscoe Ranch Karnes Trough Encinal (75% NRI) (81.3% NRI) Dimmit (75 80% NRI) Acreage* (75 77% NRI) Total (75 77% NRI) (75 77%…
  24. Simmons Energy Conference – Rosetta Resources, Inc. – slide 24
    FINANCIAL STRENGTH AND FLEXIBILITY 26
  25. Simmons Energy Conference – Rosetta Resources, Inc. – slide 25
    Margin Expansion 50.00 47.70 46.37 43.71 43.57 43.01 43.57 41.72 41.27 39.68 40.00 37.63 36.30 33.62 30.00 20.00 17.44 16.84 15.95 15.66 13.79 13.64 14.26 14.26 13.40 13.34 12.85 10.00 11.63 0.00 1Q 2010 2Q…
  26. Simmons Energy Conference – Rosetta Resources, Inc. – slide 26
    Commodity Derivatives Position February 25, 2013 Liquid Derivatives Natural Gas Derivatives (Bbls/d) (MMBtu/d x 1,000) 20,000 60 18,250 18,000 7,500 50 50 16,000 20 14,000 41.96** 40 40 40 3.98 20 10 12,000 11,000 3.95…
  27. Simmons Energy Conference – Rosetta Resources, Inc. – slide 27
    Debt and Capital Structure Total Debt Structure Capital Structure (MM) (MM) 450 1600 40% 40% 410 400 1400 34% 350 350 1,214 1200 30% 200 28% 300 1000 250 879 883 250 200 800 804 20% 200 600 529 150 200 633 20 210 400 10%…
  28. Simmons Energy Conference – Rosetta Resources, Inc. – slide 28
    Liquidity Total Liquidity (MM) 600 500 Adequate liquidity available to fund 2013 452 442 640-700 million capital program 400 Borrowing base raised in April, 2012 342 based on performance 300 400 million of 625 million…
  29. Simmons Energy Conference – Rosetta Resources, Inc. – slide 29
    Summary Developing High-Graded Asset Base Focused on liquids-rich targets in Eagle Ford with significant project inventory Completed divestiture of South Texas legacy natural gas assets; redeployed proceeds Executing Business Plan…
  30. Simmons Energy Conference – Rosetta Resources, Inc. – slide 30
    REDEFINED BUILDING VALUE IN UNCONVENTIONAL RESOURCES
  31. Simmons Energy Conference – Rosetta Resources, Inc. – slide 31
    APPENDIX 33
  32. Simmons Energy Conference – Rosetta Resources, Inc. – slide 32
    2013 Expense Guidance As of December 10, 2012 (Reaffirmed February 25, 2013) 2013 /BOE Direct Lease Operating Expense 2.15 - 2.40 Insurance 0.07 - 0.08 Ad Valorem Tax 0.65 - 0.75 Treating and Transportation 4.20 - 4.65 Production…
  33. Simmons Energy Conference – Rosetta Resources, Inc. – slide 33
    Annual Guidance Framing For Quarterly Models Volumes and Product Mix 2013 exit rate 52 56 MBoe/d; 62%-63% total liquids Averaged 47.4 MBoe/d in January 2013 (Oil 29%, NGLs 34%) 2013 oil percentage approximately 30% 2013 production…
  34. Simmons Energy Conference – Rosetta Resources, Inc. – slide 34
    Margin Improvement 4Q 2012 2012 2011 2010 Daily rate (MBoe/d) 44.3 37.2 27.6 22.9 Oil% / NGLs% 26% / 36% 26% / 33% 18% / 26% 9% / 13% /Boe /Boe /Boe /Boe Average realized price (without realized derivatives) 42.58 42.10 42.45 32.98…

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