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Jefferies 2012 Global Energy Conference – Stone Energy Corp.

Stone Energy Corp. · Nov 28, 2012 · 21 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. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 1
    Jefferies 2012 Global Energy Conference Houston, TX November 28-29, 2012 We are purposefully driven to provide top quartile share price performance and exceptional rates of return for our shareholders as we help meet the worlds…
  2. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 2
    Growing E&P Company Market Capitalization 1.1 Billion Enterprise Value 2.0 Billion Morgantown EBITDA (Trailing 12 months) 641 Million Appalachia Cash 224 Million Debt: 2014 Sub. Notes (200 Million*) 2017 Sr. Notes 375 Million…
  3. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 3
    Growing Diversified Reserves Estimated Proved Reserves 100 mmboe* Reserves Growth Oil Gas 54.6 PDNP Proved Reserves - mmboe PUD 33 mmboe 40 mmboe 45.8 36.1 PDP 27 mmboe 45.8 32.3 33.2 12/31/09 12/31/10 12/31/11…
  4. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 4
    Growing Diversified Production 2012 Production Guidance Production Growth (42-42.5 mboe/d) 50 100% 45 DW Estimated % of 2012 Production Gas 40 DG 75% Production Rate boe/d 35 APP 30 NGL 50% 25 20 Oil CS 15 25%…
  5. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 5
    Focused on Exploration and Operational Excellence Strategy Leverage cash flow to: Grow oil in material impact areas Balanced Investment Base Grow gas in price-advantaged basins Limit reinvestment in legacy assets Deepwater…
  6. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 6
    Momentum in Deep Water Strategy Deep Water Production Enhance value of existing assets 14 116 deep water leases 12 Production mboe/d 2 operated platforms with excess capacity 10 7 producing fields 8 Proactively manage risk…
  7. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 7
    Enhance Value of Existing Infrastructure Legend 2012 SGY lease 2013 SGY AHB 2014 Prospects 2015 Platform Development Drilling Prospective resource potential per well: 1-3 mmboe Pompano Floating Rig Increased working…
  8. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 8
    Proactively Manage Risk Promoted & Drilled High quality prospects enable New JV with Conoco Prospects with WI 75% attractive JV partners Drill more wells with same dollars Maintain material working interest Pay lower percentage of…
  9. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 9
    Invest in High Impact Exploration 3 Year Plan Visibility 2 to 8 Tie back exploration prospects 2 to 4 High potential exploration prospects Pompano Amethyst 3 Pompano platform wells (avg 2 mmboe) Amberjack Cordona 5 Amberjack platform…
  10. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 10
    Momentum in Liquids Rich Deep Gas Strategy Deep Rich Gas Production Profitably grow liquids rich gas through exploration. 20 Production mmcfe/d 15 Achievements 10 Created new business area 5 2 Discoveries on production…
  11. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 11
    Momentum in Appalachia Strategy Appalachia Production Profitably grow liquids rich gas through low risk 70 Production mmcfe/d development. 60 50 40 Achievements 30 20 Grew Proved Reserves to over 170 bcfe 10 Estimated -…
  12. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 12
    Liquids Rich Marcellus Remains Attractive Liquid Rich Area Type Curve 5.0 4.0 EUR/Well 5.8 bcfe mmcfe/d 3.0 Condensate yield 50 b/mm 2.0 NGL yield 60 b/mm 1.0 0.0 0 1 2 3 4 5 6 7 8 9 10 11 12 Production Year Gas…
  13. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 13
    Efficiencies Continue to Improve Economics 6000 Lateral 5000 Increased Laterals from 3,600 to 5,100 Length (feet) 4000 Best in class safety record 3000 2010 2011 2012 18 16 Frac 14 Increased frac stages from 10 to 16…
  14. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 14
    Conventional Shelf Continues to Contribute Strategy Conventional Shelf Production 35 Maintain relatively stable shelf oil production and generate free cash flow. 30 Production boe/d 25 20 Achievements 15 Oil Production 10…
  15. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 15
    Capital Allocated to Optimize Value Creation 2012 Capital Program Considerations: Optimize Net Present Value 4% Deep 18% Grow short term cash flow Gas Deep Water 36% 5% Provide diversification Business Development Conventional…
  16. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 16
    Cash Flow Fuels 3-Year Plan 60 49.28 High margins provide free cash flow Cash Margin/Boe 40 34.14 45.72 Louisiana sweet crude pricing 33.54 Cost and efficiency focus 20 Liquids rich natural gas 0 2009 2010 2011 2012 80%…
  17. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 17
    Balance Sheet Supports 3-Year Plan Debt/Market Cap 50% Debt/Market Capitalization Declining 40% Attractive Liquidity 30% 200+ million cash 20% 400 million borrowing base 2009 2010 2011 Reserves/Share 3.00 2.50 2.00…
  18. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 18
    Attractive Investment Opportunity Why Invest in Stone Energy Visible 3 Year Plan Significant and visible upside Deep Water 10 - 20 oil wells Financial flexibility Appalachia 75 - 100 resource play wells Attractive value Deep Liquid…
  19. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 19
    Appendix Hedging Transactions Oil Natural Gas Daily Volume Daily Volume (Bbl/d) Price (MBtu/d) Price 2012 1,000 90.30 Swap Contract 2012 Swap Contract 2012 10,000 5.03 Swap Contract 1,000 90.41 2012 1,000 90.45 Swap Contract 2012…
  20. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 20
    Appendix EBITDA Reconciliation 12 Months Ending 9/30/12 Net Income 151.1 Interest expense 23.9 Income taxes 86.6 DD&A 336.2 Accretion 32.6 EBITDA 630.4 (In Millions) 21 * EBITDA is defined as net earnings plus interest…
  21. Jefferies 2012 Global Energy Conference – Stone Energy Corp. – slide 21
    Contact Kenneth H. Beer Chief Financial Officer (337) 521-2210 Fax: (337) 521-2072 CFOStoneEnergy.com 22

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