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Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc.

Rosetta Resources, Inc. · Mar 2, 2011 · 27 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. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 1
    ROSETTA RESOURCES INC. JP Morgan Global High Yield & Leveraged Finance Conference March 2011 1
  2. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 2
    Rosetta Resources 2010 Highlights Capital spending of 339 MM Hi High return/high value programs received vast majority of funding h t /hi h l i d t j it f f di Capital exceeded internal cash flows, but balanced with asset sales…
  3. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 3
    Rosetta Resources Key Statistics Percent Reserves Inventory in BCFE 2010 2009 Increase Proved Reserves Proved Reserves 479 351 36% Risk Adjusted Inventory (1) 1,897 812 134% Average Shares Outstanding 52.1MM 51.0MM 2% (Diluted) 1)…
  4. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 4
    2011 Program 360 MM Capital Budget in 2011 Focus on Eagle Ford 90% of 2011 capital allocated to Eagle Ford 40 wells planned Fracture stimulation services agreement in place Pipeline and processing capacity expanded i li d i i d d…
  5. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 5
    Rosetta Asset Portfolio Status 7
  6. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 6
    Eagle Ford Eagle Ford 8
  7. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 7
    Rosettas drilling focus has been primarily on the Gates Ranch Area, however, we have embarked on the delineation of our other liquidsrich areas Area Hydrocarbon Window Net Acres Gates Ranch Area Condensate 29,960 Central Dimmit…
  8. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 8
    Gates Ranch Area 10
  9. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 9
    Gates RanchGross Daily Production 120,000 12,000 Gas Equivalent Production, mcfe/d f / 100,000 Gross Gas, mcf/d 10,000 Dos Hermanas Gross Oil, bbl/d in service Gross NGL bbl/d Gross NGL, bbl/d 80,000 8,000 mcfe/day…
  10. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 10
    Eagle Ford Gates Ranch 12
  11. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 11
    Gates Ranch Proper Drilling Activities Inception to date and planned for 2011 W ll D ill d 2009 & 2010 Wells Drilled 2009 & 2010 Planned Wells a ed e s 2011 0 13
  12. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 12
    Gates Ranch Proper Individual Well Performance Normalized actual results versus internal 7.2 Bcfe P50 curve and P90 PUD booking curve 7.2 BCFE (Internal model) 5.3 BCFE (PUD booking) 14
  13. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 13
    Gates Ranch Valuation On average, a typical well has a 7.2 BCFE EUR and a BFIT NPV of 13.4 MM NPV Per NPV Per Initial Initial Well Discounted Post 2010 NPV Per Area Gas Rate Oil Rate EUR BFIT10 Payout Inventory BFIT10 Area…
  14. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 14
    Eagle Ford Pipeline Projects Legend ROSE Production Facilities Dos Hermanas Dimmit Lateral 16
  15. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 15
    Eagle Ford Pipeline Projects (Cont.) Legend ROSE Production Facilities Velocity Liquids Line 17
  16. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 16
    Eagle Ford Gathering Dos Hermanas in service December 2010 Firm gathering and processing reaches 85 MMcfe/d Revised agreement in place: Revised agreement in place: Dimmit lateral in service 2nd quarter 2011 Dos Hermanas capacity…
  17. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 17
    Southern Alberta Basin Southern Alberta Basin 19
  18. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 18
    Southern Alberta Basin Opportunity is Unique Southern Alberta Basin specifics Devonian Shale oil play in NW Montana Williston Basin analog Williston Basin analog Depths ranging from 4,500 to 7,500 TVD Overpressured reservoirs…
  19. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 19
    Southern Alberta Basin Acreage Recap Acres Lessor Terms 200,000 Blackfeet Indian Nation 5 year option with 2 well per year drilling requirement for 10 well total. With each commercial well, Rosetta earns the right to lease 20,000…
  20. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 20
    FINANCIAL OVERVIEW FINANCIAL OVERVIEW 22
  21. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 21
    Financial Strategy Conservative and disciplined approach to financial management Ample debt coverage p g Debt to proved reserves of 0.72/Mcfe Debt to proved developed reserves of 1.46/Mcfe Actively manage and monitor use of debt…
  22. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 22
    Financial Strength High quality and low risk diversified proved asset base Hi h li dl i k di ifi d d b 479 Bcfe of proved reserves 9.8 year reserve life 51 % proved developed Financial flexibility Financial flexibility Credit…
  23. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 23
    Risk Management Selective hedging program: Oil hedges of 3,200 Bbl/d in 2011/3,400 Bbl/d in 2012/2,600 in 2013 Oil h d f 3 200 Bbl/d i 2011/3 400 Bbl/d i 2012/2 600 i 2013 NGL Hedges of 1,679 Bbl/d in 2011/1,950 Bbl/d in 2012 Gas…
  24. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 24
    Financial Summary 12/31/2010 12/31/2009 12/31/2008 Cash 41.6 61.3 44.3 Other current assets 71.4 50.9 85.7 Property and equipment, net 730.0 590.6 974.3 Other assets 154.3 176.8 50.1 TOTAL ASSETS 997.3 879.6 1,154.4 Current…
  25. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 25
    Rosetta Production & Revenue Production (MMcfe/d) 180 160 21 1 1 140 14 2 120 6 6 7 100 78 94 80 104 139 132 118 111 60 113 40 68 20 49 29 0 0 0 1 4 7 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 Offshore Other Core Eagle Ford…
  26. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 26
    2011 Program Focus on high return Eagle Ford inventory Production guidance dependent on divestiture timing 160170 MMcfe/d including divestment properties DJ Basin/California expected to produce approximately 35 MMcfe/d for full…
  27. Global High Yield Leveraged Finance Conference – Rosetta Resources, Inc. – slide 27
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