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Howard Weil 40th Annual Energy Conference – Stone Energy Corp.

Stone Energy Corp. · Mar 27, 2012 · 22 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. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 1
    Stone Energy Howard Weil 40th Annual Energy Conference March 2012 Forward Momentum
  2. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 2
    Company Statistics Equity Market Value(1) 1.6 Billion Enterprise Value(1)(2) 2.3 Billion Trailing 12-month EBITDA(3) 625 Million 2014 Sub. Notes 200 Million 2017 Sr. Notes 375 Million 2017 Sr. Convertible Notes 300 Million Bank…
  3. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 3
    Cash Margin (Includes Hedges) Cash Margin Current Taxes Oil * Gas Total Interest Expense Revenue per 2012 55% 22% 39% Production Taxes Approximate /Boe G&A Percentage 2013 45% 14% 30% LOE * Hedged 2014 15% -- 7% 80 74.90 Based…
  4. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 4
    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…
  5. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 5
    2011 Highlights Pompano acquisition 167 million; 17 Mboe (83% Oil), 3,300 Boe/d net Pyrenees deep water tie-back construction completed Wideberth deep water acquisition La Cantera (LaPosada) deep gas discovery Lighthouse Bayou…
  6. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 6
    Mission / Vision Mission 2012 Stock Performance SGY vs. Peer Group 1.700 (as of 3/9/12) To provide exceptional returns to our shareholders by finding and producing oil and 1.500 natural gas reserves that help meet the worlds growing…
  7. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 7
    Stone Energy Strategy Strategy: Leverage GOM cash flow to: 1. Maintain stable GOM Shelf oil production 2. Profitably grow oil reserves and production in material impact areas 3. Profitably grow gas reserves and production in liquids…
  8. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 8
    Proved Reserves (As of 12/31/11) 100 MMboe (602 Bcfe) PDNP PUD 32.5 MMboe 40.3 MMboe 195 Bcfe 242 Bcf 0.80/Mcfe (64% gas) Conversion cost PDP 27.6 MMboe 165 Bcfe All Reserves Proved Producing 46% Oil 42% Gas 54% Gas…
  9. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 9
    1Q2012 Highlights Pyrenees commenced production La Cantera (LaPosada) commenced production Mary field production inclining, facilities constraints easing Conventional shelf drilling program ahead of schedule Pompano operational…
  10. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 10
    2012 Capital Expenditure Budget 2012E Capital Expenditure Budget 625 MM Onshore Oil 22-27 Horizontal wells P&A/Facilities 12% 30% 10% Appalachia Gulf of 8% Mexico Recompletions / Shelf 19% WO 5% 16% Deep Water Deep Gas…
  11. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 11
    Conventional Shelf 3-Year Plan Strategy: Maintain stable shelf oil production and cash flow Planned 2012 Drilling Weeks Island Possible 2013-14 Drilling Additional Inventory Forge Pinto Hula Popper Magnum Popper Herbert…
  12. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 12
    Conventional Shelf - 2012 Capital Total: 210 MM Program Highlights Projected stable oil production 8 well oil development drilling campaign, including 5 at SS 113 Field Workover campaign throughout the Shelf Active…
  13. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 13
    Deep Gas 3-Year Plan Strategy: Grow liquids rich gas reserves and production through exploration Farm-ins Lighthouse South Erath 2 Bayou Trafalger La Cantera/La Posada 2 Hampton Roads Jug Davy Jones Tom Cat LaPosada…
  14. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 14
    Deep Gas - 2012 Budget Capital Total: 35 MM Program Highlights La Cantera (LaPosada) producing, 2nd well drilling S. Erath production 1h, seismic data Deepen Lighthouse Bayou Capture 1-2 new farm-in opportunities Drill TomCat…
  15. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 15
    Deep Water 3-Year Plan Strategy: Acquire projects with near-term production, appraise discoveries and participate in large scale exploration prospects Floyd Planned 2012 Drilling SGY 16% WI Salt Pompano Possible 2013-14 Drilling…
  16. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 16
    Deep Water - 2012 Budget Capital Total: 125MM Program Highlights Pompano - Assume operatorship of platform - Workovers 2012 - Prepare for 2013 platform drilling - Prepare for floating rig exploration in 2014 Wideberth tie-back…
  17. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 17
    Appalachian Basin Marcellus Shale Play 3-Year Plan Strategy: Profitably grow liquids rich gas reserves and rate SGY Talkington-Nice Pad, Mary Prospect, WV Katie Andie 13,000 net acres 31,000 net acres Christine Mary…
  18. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 18
    Appalachia - 2012 Budgets Capital Total: 185 MM Program Highlights Focus on liquids rich areas One rig program in Heather & Mary Fields - Drill 22 to 27 horizontal laterals - Frac 20 to 26 wells Prepare for 2013 and 2014…
  19. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 19
    Business Development Oil / Acquisition Opportunities Alberta Bakken 35,000 net ac. Niobrara 10,000 net ac. LaSalle Unit Paradox Three Mile Unit 35,000 net ac. Possible 2012 Drilling Possible 2013-14 Drilling…
  20. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 20
    Summary (MMboe) 250 Maintain top quartile stock price performance 79 2012 reserves, production & EBITDA growth 3 year plan developed and in execution 200 Maintain financial flexibility 53 150 100 100 Appalachia Deep…
  21. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 21
    Appendix - EBITDA Reconciliation (In Millions) Year Ending 12/31/11 Net Income 262.0 Non Recurring Item (103) Interest expense 9.3 Income taxes 146.7 DD&A 280.0 Accretion 30.8 EBITDA 625.0 * EBITDA is defined as net earnings…
  22. Howard Weil 40th Annual Energy Conference – Stone Energy Corp. – slide 22
    Commodity Price Volatility Mitigation 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 Contract…

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