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RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc.

Rosetta Resources, Inc. · Jun 5, 2012 · 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. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 1
    Global Energy and Power Conference Presentation Rosetta Resources Inc. June 4-5, 2012 REDEFINED BUILDING VALUE IN UNCONVENTIONAL RESOURCES
  2. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 2
    Company Profile A leading producer in the Eagle Ford shale in South Texas with an exploratory position in the Southern Alberta Basin in northwest Montana An inventory of high-return, low-risk unconventional drilling opportunities…
  3. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 3
    Company Strategy Leverage high-graded asset base Strengthen position as a leading pure Eagle Ford shale player Develop and convert inventory of over 500 MMBoe with 13 years of drilling ahead Expand production base with less than 10%…
  4. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 4
    LEVERAGE HIGH-GRADED ASSET BASE 6
  5. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 5
    Quality Asset Base Southern Alberta Basin 300,000 net acres 6 BBOE hydrocarbon resource in place 1500 potential locations Exploration underway 11 delineation wells completed 7 horizontal wells drilled; 3 completed 4 horizontal…
  6. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 6
    Significant Growth in Asset Net Resources Total Net Risked Resources Since 2009, proved reserves more (MMBoe) 700 than doubled; total risked resources nearly tripled Total project inventory, including 600 578 PUDs, grew from 150…
  7. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 7
    Quarterly Production Performance MBoe/d Eagle Ford Other Non-Core 50 39 - 44 45 40 35 - 38 35 33.8 32.0 30 26.8 25.9 25.6 24.0 24.5 25 22.4 20.7 20 15 30.4 27.4 10 21.6 21.7 14.9 5 11.3 8.2 4.9 - 1.1 1Q10 2Q10…
  8. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 8
    SUCCESSFULLY EXECUTE BUSINESS PLAN 10
  9. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 9
    2012E Capital 640 Million By Region Run four- to five-rig program in Eagle Ford area Other Southern 2% Alberta 60 completions for year Basin 5% Liquids-rich development Additional focus on Karnes Trough area and Briscoe Ranch…
  10. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 10
    Eagle Ford Growth Profile MBoe/d 80 Eagle Ford production averaged 70 30.4 MBoe/d (90% of Rosettas total production) during 1Q 2012 Exit Rate 60 55% total liquids Guidance 39 - 44 MBoe/d 24% oil / 31% NGLs 50 Q1 2012 Program 12…
  11. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 11
    Top 20 Eagle Ford Operators % of Eagle Ford Shale Production Gross Boe/d per Well 1 11.5% A 632 2 10.7% ROSE 511 3 9.5% C 457 4 9.2% D 446 5 8.8% E 446 6 6.5% F 403 7 5.8% G 388 ROSE 5.3% H 351 9 4.6% I 328 10 4.1% J 311 11…
  12. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 12
    Gates Ranch Summary 26,500 net acres in Webb County 57 completions as of 12/31/2011 268 well locations remaining under current spacing assumptions 1Q 2012: 10 completions Average Well Characteristics Composite EUR: 1.67 MMBoe…
  13. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 13
    Gates Ranch Well Spacing Illustration 1700 feet +/- 1700 feet +/- 1700 feet 850 feet 565 feet 565 feet 425 feet 283 feet 283 feet 5000 feet 5000 feet 5000 feet ORIGINAL CASE WORST CASE BEST CASE Area = 195 acres Area =…
  14. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 14
    Gates Ranch Well Performance North and South Areas South Type Curve 1.9 MMBoe Composite Type Curve 1.7 MMBoe North Type Curve 1.4 MMBoe 16
  15. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 15
    Gates Ranch Well-Spacing Performance Gates Ranch Daily Production with Downspaced Wells 6 Gates Ranch North wells spaced 425 to 565 feet apart (50 to 65 acres per well). Note: In order to compare like well performance, the well…
  16. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 16
    Eagle Ford Multiple Takeaway Options Gas Transportation Capacity Oil Transportation Capacity Firm gross wellhead gas takeaway Gates Ranch, Briscoe Ranch and Central Dimmit Co. 190 MMcf/d today to 195 MMcf/d on July 1st Plains Crude…
  17. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 17
    TEST FUTURE GROWTH OPPORTUNITIES 19
  18. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 18
    Eagle Ford Shale Activity Net Area Window Acreage Operating two rigs in Gates Ranch and three in Briscoe Ranch, Central Dimmit County and Karnes Trough area Gates Ranch Liquids 26,500 Participated in 10 successful wells in…
  19. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 19
    Briscoe Ranch Summary Discovery Well Initial Rate* 10/2011 1,990 Boe/d, 68% Liquids 3,545 net acres in southern Dimmit (850 Bo/d, 490 B/d NGLs, 3,900 Mcf/d) County 1 completion as of 12/31/2011 47 well locations remaining Average…
  20. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 20
    Karnes Trough Area Delineation Well Initial Rate* 2/2012 SUMMARY 1,463 Boe/d, 76% Oil 1,900 net acres; located in oil window (1,109 Bo/d, 153 B/d NGLs, 1,200 Mcf/d) 1 completion as of 12/31/2011 21 well locations remaining 1Q…
  21. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 21
    Central Dimmit County Area Discovery Well Initial Rate* 9/2011 680 Boe/d, 89% Liquids (506 Bo/d, 102 B/d NGLs, 436 Mcf/d) Discovery Well Initial Rate* 10/2010 987 Boe/d, 78% Liquids (510 Bo/d, 260 B/d NGLs, 1,300 Mcf/d)…
  22. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 22
    Eagle Ford Inventory +/- 800 net wells remaining as of 12/31/2011 Briscoe Central Karnes Undelineated Gates Ranch Encinal (75% NRI) Ranch Dimmit Trough Acreage* (75 77% NRI) Total (81.3% NRI) (75 77% NRI) (75 80% NRI) (75 77%…
  23. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 23
    Southern Alberta Basin Activity 30 miles 7-day Stabilized Lateral Well (Middle Bakken) Test Rate, Boe/d Feet Tribal Riverbend 12-13H 403 +/- 3,500 Tribal Riverbend 07-04H 154 +/- 3,500 Fee Simonson 34-01H 104 +/- 3,700…
  24. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 24
    FINANCIAL STRENGTH AND FLEXIBILITY 26
  25. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 25
    Margin Expansion 50.00 47.70 43.71 43.57 43.01 41.72 39.68 40.00 37.63 36.30 33.62 30.00 20.00 17.44 16.84 15.95 15.66 13.79 13.40 13.64 13.34 10.00 11.63 0.00 1Q 2010 2Q 2010 3Q 2010 4Q 2010 1Q 2011 2Q 2011…
  26. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 26
    Commodity Derivatives Liquid Derivatives Natural Gas Derivatives (Bbls/d) (MMBtu/d x 1,000) 14,000 40 12,300 12,000 4,700 30 10,000 9,250 63.77 2,500 8,000 64.48 20 7,600 20 6,750 6,000 81.03 4,000 X 81.01 5.13 117.03 X…
  27. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 27
    Debt and Capital Structure Total Debt Structure Capital Structure (MM) (MM) 400 1600 40% 40% 350 350 1400 300 1200 30% 28% 28% 250 250 250 200 1000 879 883 905 200 800 20% 150 200 200 600 529 20 633 655 100 400 10% 130…
  28. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 28
    Liquidity Total Liquidity (MM) 700 Adequate liquidity available to fund 2012 620 640 million capital program 600 Borrowing base raised in April, 2012 based on performance 500 595 million of 625 million borrowing base available…
  29. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 29
    Summary Asset Base High-Graded Focused on liquids-rich targets in Eagle Ford with significant project inventory Completed divestiture program; redeployed proceeds Continued to evaluate Southern Alberta Basin option Executing Business…
  30. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 30
    APPENDIX 32
  31. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 31
    Annual Guidance 2012 Full Year Production, MBoe/d (60% liquids) 35 - 38 Exit Rate, MBoe/d (61% liquids) 39 - 44 /BOE Direct Lease Operating Expense 1.30 - 1.45 Workover Expenses - Insurance 0.10 - 0.11 Ad Valorem Tax 0.75 - 0.85…
  32. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 32
    Annual Guidance Framing For Quarterly Models Volumes (Full Year 35 38 MBoe/d) 1Q 2012: 33.8 MBoe/d with 30.4 MBoe/d from Eagle Ford Lumpy quarterly production Back-end loaded oil production ramp-up to match timing of start-up of…
  33. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 33
    Margin Improvement 1Q 2012 4Q 2011 2011 2010 Daily rate (MBoe/d) 33.8 32.0 27.6 22.9 Oil% / NGLs% 22% / 30% 22% / 27% 18% / 26% 9% / 13% /Boe /Boe /Boe /Boe Average realized price (without realized derivatives) 42.37 42.69 42.45…
  34. RBC Capital Markets Global Energy Power Conference – Rosetta Resources, Inc. – slide 34
    REDEFINED BUILDING VALUE IN UNCONVENTIONAL RESOURCES

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