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February 2014 Investor Presentation – Rosetta Resources, Inc.

Rosetta Resources, Inc. · Feb 27, 2014 · 41 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. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 1
    Rosetta Resources Inc. Investor Presentation February 2014
  2. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 2
    Company Strategy Key Elements Grow core area in Permian Basin focused on horizontal applications Leverage Maintain position as a leading operator in the high-return Eagle Ford play High-Grade Asset Base Develop combined inventory of…
  3. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 3
    2013 Highlights Increased proved reserves 39%, from 201 MMBoe to 279 MMBoe at year-end 2013 Increased annual daily production 34%, from 37 Mboe/d to 50 MBoe/d Set record levels of equivalent production, liquids production and proved…
  4. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 4
    Rosetta Resources Asset Overview Ticker: ROSE Market Summary Market capitalization: 2.9 billion (February 24, 2014 Close) Share price: 47.25 Enterprise value: 4.2 billion Permian Eagle Ford 63,000 net acres (100% operated) Gaines…
  5. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 5
    Strong Growth Track Record Net Risked Resource Potential Net Production (MMBoe) (MBoe/d) Permian Acquisition 288 MMBoe Total Company Guidance Range 70 60 - 65 65 Divested 11 MMBoe 60 60 50 50 2 40 37 28 30 23 23…
  6. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 6
    2014 Capital Program (1.1 Billion1) Continued focus on oil and liquids-rich development By Region By Category Other Other 6% 9% Facilities 7% Permian 24% Eagle Ford Drill & Complete2 67% 87% Rig Programs Eagle Ford:…
  7. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 7
    EAGLE FORD CORE AREA 8
  8. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 8
    Gates Ranch Development Timeline Eagle Ford Producing Wells By Year with EUR expectations Old Perspective New Perspective South Type Curve - 1.9 MMBoe (18% Oil / 35% NGLs) Well EUR Ranges 9 miles Composite Type Curve - 1.7…
  9. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 9
    Gates Ranch 26,200 net acres in Webb County 4Q 2013: 16 completions 10 miles Eagle Ford Dec 31, 2013 Summary Completions to date: 140 gross completions Locations remaining: 292 net well locations1 Average2 Lower EF Well…
  10. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 10
    Well Performance on 55 acres Compared to similar offsetting wells spaced at 100 acres 55 wells The 55 wells are performing in line with 33 comparable Our largest continuous group offsetting wells albeit at anticipated lower condensate…
  11. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 11
    Gates Ranch Offsetting Southern Wells Far South & Southeast Well Spacing Performance Comparison 10,000 700 spacing 2-Stream Production (BOEPD) 1,000 500 spacing 100 Rosetta Wells Offset Wells Offset 700 Spaced…
  12. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 12
    Upper Eagle Ford Pilot Areas Gates Ranch Lasseter & Eppright L&E Lower 475 3rd Pilot 55-acre spacing 1st Pilot Upper Lower 4th Pilot Upper Lower 2nd Pilot 13
  13. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 13
    Briscoe Ranch 3,600 net acres in southern Dimmit County Dec 31, 2013 Summary Completions to date: 16 gross completions Locations remaining: 52 net well locations Average Well Characteristics Well Costs: 6.0 - 6.5 MM Spacing: 50…
  14. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 14
    Central Dimmit County Area 8,500 net acres located in Dimmit County Dec 31, 2013 Summary Completions to date: 12 gross completions Locations remaining: 103 net well locations Average Well Costs Light Ranch & Vivion: 5.5 - 6.0 MM…
  15. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 15
    Lopez Farm-In 500 net acres in Live Oak County Dec 31, 2013 Summary Farm-In from Killam Oil BPO: 100% WI, 75% NRI APO: 65% WI, 48.75 NRI Completions to date: 3 completions 7-day gross stabilized IP Locations remaining: 5 net…
  16. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 16
    Tom Hanks 3,500 net acres in LaSalle County Eagle Ford Well 7-day gross stabilized IP 657 Boe/d (91% oil) Dec 31, 2013 Summary Completions to date: 5 gross completions Eagle Ford (EF) development Pearsall exploration…
  17. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 17
    PERMIAN BASIN CORE AREA 18
  18. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 18
    Permian Reeves County 41,000 net acres1 4th Quarter 2013 16 completions 15 vertical 1 horizontal Dec 31, 2013 Summary Working Interest: 60% average2 overall Locations remaining: 956 net vertical & horizontal locations3…
  19. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 19
    Permian Horizontal Development Plan 12/31/2013 7 76 79 77 9 10 611 gross operated (Avg 74% WI) 4 Horizontal Well Locations1 18 82 11 18 17 80 16 53 20 13 54 19 26 20 12 12 81 12 29 25 19 22 14 6 22 14 12…
  20. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 20
    Total Company Inventory +/- 1,650 net wells -- remaining as of 12/31/2013 (excluding Upper Eagle Ford) Wells Drilling rig Wells awaiting Remaining Avg Cost / Net acres completed Well Spacing Years remaining activity completion…
  21. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 21
    MARKETING AND FINANCIAL OVERVIEW 22
  22. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 22
    Eagle Ford Multiple Takeaway Options Gas Transportation Capacity Gates Ranch NGL Firm gross wellhead gas takeaway Breakdown January 2014 245 MMcf/d today C5+ 7% Four processing options Gathering (Plant) C4 15% Regency…
  23. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 23
    Permian Basin Marketing Oil Currently trucked from leases Oil gravity range 45 - 49 degrees and receives no gravity deducts Natural Gas Gas is rich and is processed at two plants Most leases under long-term gathering…
  24. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 24
    Commodity Derivatives Position February 24, 2014 Liquid Derivatives Natural Gas Derivatives (Bbls/d) (MMBtu/d x 1,000) 20,000 19,000 100 10,000 90 18,000 90 40 80 16,000 15,000 80 30 37.10 5,000 14,000 70 4.18 4.07 12,000 31.87…
  25. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 25
    Liquidity Total Liquidity 994 1,000 (Millions) 900 800 700 630 589 600 800 500 452 400 371 342 610 525 300 237 415 200 295 360 195 100 194 42 47 37 20 64 0 11 12/31/2010 12/31/2011 12/31/2012 3/31/2013 6/30/2013…
  26. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 26
    Investment Summary Drill-bit focused producer with large acreage positions in liquids-rich Eagle Ford and oil-weighted Permian Basin plays Attractive core Delaware Basin position Successful operator in the high-return Eagle Ford…
  27. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 27
    APPENDIX 28
  28. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 28
    Drilling Time Performance Gates Ranch 40 2.5 2.3 2.3 2.2 2.2 35 1.9 2.0 1.9 1.9 30 25 Drilling Cost MM Cycle Time (Days) 1.5 20 21.7 1.0 15 16.3 16.5 16.7 13.6 12.7 10 12.0 0.5 5 0 0.0 2010 2011…
  29. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 29
    Well Cost Performance Permian Horizontals 30
  30. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 30
    Well Cost Performance Permian Verticals 31
  31. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 31
    Attractive Well Economics (Typical Well) Gates Ranch Vertical Vertical Horizontal Briscoe L&E Wolfbone Wolfbone Upper North Ranch Far South Southeast Far North Central East Wolfcamp Central 100% 100% 100% 100% 100% 100% 71% 55%…
  32. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 32
    Gates Ranch Far South P50 Type Curve Well EUR Ranges 9 miles (MMboe) EUR 2.35 MMBoe (2.0-2.7) 16% Oil / 39% NGLs Completions by Year 2009 (1) Far North 2010 (16) (0.7 1.3) 2011 (39) 2012 (40) 2013 (44) 10 miles North…
  33. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 33
    Gates Ranch Southeast P50 Type Curve Well EUR Ranges 9 miles (MMboe) EUR 2.15 MMBoe (1.8-2.5) 16% Oil / 39% NGLs Completions by Year 2009 (1) Far North 2010 (16) (0.7 1.3) 2011 (39) 2012 (40) 2013 (44) 10 miles North…
  34. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 34
    Gates Ranch North Central excluding 9-5 P50 Type Curve Well EUR Ranges 9 miles (MMboe) EUR 1.13 MMBoe (0.8-1.5) 20% Oil / 37% NGLs Completions by Year 2009 (1) Far North 2010 (16) (0.7 1.3) 2011 (39) 2012 (40) 2013…
  35. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 35
    Gates Ranch Far North P50 Type Curve Well EUR Ranges 9 miles (MMboe) EUR 1.02 MMBoe (0.7-1.3) 20% Oil / 37% NGLs Completions by Year 2009 (1) Far North 2010 (16) (0.7 1.3) 2011 (39) 2012 (40) 2013 (44) 10 miles…
  36. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 36
    Briscoe Ranch P50 Type Curve - 925 MBoe (22% Oil / 41% NGLs) BOE (bbl/d) - 2-Stream Initial Well (days) 37
  37. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 37
    Central Dimmit Lasseter & Eppright P50 Type Curve - 892 MBoe (42% Oil / 29% NGLs) BOE (bbl/d) - 2-Stream (days) 38
  38. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 38
    Permian Reeves County Vertical Wolfbone Central BOE (bbl/d) Normalized Time (year) East BOE (bbl/d) Wolfbone Area Central East Well Costs (MM): 3.5 3.5 Spacing: 20-acre 20-acre 30-Day IP Boepd (gross): 237 269…
  39. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 39
    Permian Reeves County Upper Wolfcamp Horizontal Type Curve 10,000 P50 Type Curve Average Well Costs (MM) 8.5 30-Day IP Boepd (gross) 1,090 Composite EUR Mboe (gross) 550 % Oil 74% % NGL 10% 1,000 BOEPD* - 2 Stream 100…
  40. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 40
    Adjusted EBITDA Reconciliation EBITDA is calculated as net income, excluding income tax expense, interest expense, net of interest capitalized, other income (expense), net, and depreciation, depletion and amortization. Adjusted EBITDA…
  41. February 2014 Investor Presentation – Rosetta Resources, Inc. – slide 41
    Debt and Capital Structure Total Debt Structure Capital Structure (MM) (MM) 1,500 9.0% 3000 60% 2,848 1400 8.5% 8.0% 2500 53% 50% 1200 7.2% 7.1% 7.0% 1,348 1000 6.0% 6.0% 2000 40% 40% 5.0% 800 34% 1500 1500 30% 4.0% 28%…

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