Skip to main content UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc Investor Presentation | Shale Experts
Loading...
Pm

UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc

Energy XXI Gulf Coast, Inc · May 23, 2012 · 54 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. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 1
    Investor Presentation UBS Global Oil & Gas Conference NASDAQ: EXXI AIM:EXXI www.energyxxi.com May 21-24, 2012 5/17/12
  2. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 2
    EXXI A Real Oil Company Major EXXI Fields The 3rd Largest Producer on the Gulf of Mexico Shelf 70% of Production is Oil Interest in 6 of the 11 Largest Oil Fields on the GOM Shelf Reserves and Production are 86% Operated 70% of…
  3. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 3
    A Crude GOM Shelf Focus EXXI operates 5 of the 11 largest oil fields on the GOM shelf West Delta 73 4,400 5,100 BOE/d BOE/d West Delta West Delta 30 3,000 BOE/d 3,900 BOE/d 30 Grand Isle Grand Isle 16, 16, 18 18 8,400…
  4. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 4
    GOM Production Characteristics Typical Decline Curve Characteristics Water Drive - Flat rates until water encroaches. Abnormally Pressured Gas Well Bbls / MCF Normally Pressured Gas Well When reservoir pressure can…
  5. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 5
    Oil Drives Lower Decline Rates EXXI OPERATED PDP OIL WELLS* 1000 14% Decline 85% of Production is GROSS MBOPM Tied to Oil Wells; 72% is Oil 100 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17…
  6. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 6
    Legacy Fields (MP Complex & ST21) EUR Potential 10000 1000 Gross Monthly MBOE 100 10 1 Actual Production Acquisition Proved Forecast Current Proved Forecast Techniques to Flatten Declines and Increase…
  7. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 7
    Top 6 Operated Fields EUR Potential 10000 1000 100 Gross MBOE / Month Acquisition Current 75 Gross Gross per BOE* 10 (MMBOE) (MMBOE) (83% NRI) Cumulative Prod 1,715 1,758 Rem Proved Reserves 94 96 EUR 3-1-12 1,809…
  8. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 8
    Low Cost Development of 3P Reserves 3P: 196 MMBOE POSS DEV POSS 4 MMBOE UNDEV 3.41/BOE 30 MMBOE 4.98/BOE PROB PDP UNDEV 60 MMBOE 30 MMBOE 6.99/BOE PUD PROB DEV 35 MMBOE PDN 16 MMBOE 11.69/BOE 22 MMBOE 2.39/BOE 7.25/BOE…
  9. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 9
    Current Rig Activity Grand Isle 16 West Delta 73 Ensco 90 Nabors P-17 Pi Quandry Drilling Casing Cameron Parish, LA Unit 201 Lineham Creek Main Pass 60/61 Casing South Timbalier 54 Hercules 205 Rig Ensco 99 Rig Bullfrog…
  10. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 10
    Energy XXI Rig Schedule Field Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 2Q FY2013 South Marsh Island 230 Davy Jones Rowan EXL 3 West Delta 73 Miller Quandry Rosebank Rig Flip Weimer Nabors P-17 Main Pass 60 Bullfrog Hercules…
  11. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 11
    Inventory Drives Y/Y Organic Growth FY 2012 2013 2014 2015 95+ Additional Opportunities Identified for 2016 and Beyond Sunny (R22ST) GI 16 W/O (8) Hyden Pud Glendullan* Maroon Pud Quito* Lancer* EI 330 (5 wells) Traynor* Torrey…
  12. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 12
    Production Uplift 40,000 BOE/d Actual / Forecast IP Well Name 2Q FY12 3Q FY12 4Q FY12 1Q FY13 BOE/d Net Sunny 1,200 Winters 6,400 Magnum 800 Onyx Recompletes 5,000 Camshaft 2,550 Miller 1,000…
  13. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 13
    Consistently Improving Balance Sheet EBITDA (MM) Net Income (MM) 250 100 215 83 200 80 150 60 100 40 50 20 0 0 Dec 10 Mar 11 Jun 11 Sep 11 Dec 11 Mar 12 Dec 10 Mar 11 Jun 11 Sep 11 Dec 11 Mar 12 Net Debt (MM) Net Debt /…
  14. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 14
    Operations Overview 15
  15. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 15
    Main Pass Complex More to Come Gross Field BOE/d 18,085 18000 BOE/d 15000 12000 9000 6000 3000 0 Jun-07 Jan-08 Jul-08 Feb-09 Aug-09 Mar-10 Sep-10 Apr-11 Nov-11 May-12 Field Stats FY12 Program Stats Largest Complex in…
  16. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 16
    Main Pass 61 Field Extensive Upside Reserves Have Increased +86% Since Acquisition 17
  17. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 17
    Main Pass 73 Seismic Rejuvenation Redefined Salt Model Generating Growth and Future Development Opportunities 18
  18. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 18
    Onyx UltraShallow Discovery Onyx Log LP-1G Sand Structure Map C-12 Onyx-2 C-17ST Possible Onyx Locations C-2 120 Feet of Water Sands at 4,900 TVD LP-1G Sand has Produced Over 600 MBbls Oil Since June 2011 3 Completed…
  19. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 19
    Main Pass 61 Carinos Finds Updip Oil Carinos Log BA-4AA Sand Structure Map BA-4AA Sand Encountered untested thick laminated oil pay below the main BA-4AA Sand; Sidewall Cores indicate high perms in numerous thin sand…
  20. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 20
    XOM Oil Production 30 25 Thousand Barrels per Day 12.5 20 7.6 7.6 15 6.1 6.5 6.1 10 15.8 13.8 13.4 12.0 5 9.9 10.3 0 3Q F11 4Q F11 1Q F12 2Q F12 3Q F12 4Q F12 Capacity MBbl/d Crude MBOE/d Gas 21
  21. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 21
    South Pass 89 Program Pays Out Gross Field BOE/d 7,000 6,000 EXXI 5,000 acquired operations 2,916 4,000 BOE/d 3,000 2,000 1,000 0 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Mar-12 May-12 Field Stats FY12 Program Stats…
  22. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 22
    Grand Isle 16 Cranking Up the Program Gross Field BOE/d 16,000 15,210 14,000 BOE/d 12,000 EXXI 10,000 acquired operations March 15, 2011 8,000 6,000 4,000 2,000 0 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Mar-12…
  23. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 23
    Grand Isle 16 Winters Flows Big Volume Winters Well Log K-2 Sand K-2 Sand Structure Map LKG -16,564 Winters Salt Drilled to 17,400 MD / 16,547 TVD Encountered 83 Net Pay in K-2 Sands First Production: Feb. 21, 2012…
  24. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 24
    Grand Isle 16 Costello Finds Updip Oil C-4 Sand Structure Map Costello Log C-4 Sand C-4 C-4 C-4A Drilled to 13,105 MD / 11,849 TVD Encountered 279 MD Total Net Pay; 169 in the Primary Target C4 Sand, 110 of MD Net Pay in…
  25. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 25
    Grand Isle 16 Pi Promises Oil Upside Pi Type Log C-1 Sand Structure Map Currently Drilling at 3,214 Primary Targets are the C1, C2, and C7 Sands Updip of Past Producers Planned TD: 11,623 MD / 9,748 TVD Planned IP: 2,200 BOE/d…
  26. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 26
    West Delta 73 Field Study Seeking Upside Gross Field BOE/d 7,000 5,960 EXXI BOE/d acquired operations June 21, 2011 6,000 5,000 4,000 3,000 2,000 1,000 0 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Mar-12 May-12 Field…
  27. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 27
    West Delta 73 Miller Miller Log PLIOCENE F-45 SAND STRUCTURE MAP F30 F35 MILLER F40 Completed as a Dual in F-30 and F-35 with 2 Alternates in Lower F-35 and F-40 F45 Encountered 60 Net Pay Total Depth: 8,960 MD / 8,510 TVD…
  28. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 28
    West Delta 73 Quandry Quandry Log PLIOCENE F-40 SAND STRUCTURE MAP Quandry Drilled to 9,160 MD / 8,695 TVD Preparing to Run Casing In-fill directional well targeting F-40 oil reservoir Planned IP: 1,100 BOE/d Gross First…
  29. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 29
    WD-73 Horizontal Drilling Potential 75 per Gross F-30 and F-35 Reservoirs BOE* MMBO (83.33% NRI) Total OOIP 230 Remaining Potential** 34 Cumulative Prod. to Date 102 EUR Total Proved 110.3 EUR: 5% increase 5.5 252MM EUR:…
  30. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 30
    West Delta 73 Golden Bear Stands Out WD 73 C-38st2 K-30 STRUCTURE / AMPLITUDE MAP Expected to Spud June 2012 Reserve Potential: 56 BCF Proposed Depth: 14,100 MD / 12,900 TVD 98 BCF; 2 MBO Planned IP: 30 MMCF/d Gross First…
  31. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 31
    South Timbalier 54 Sparks Oil Uplift Gross Field BOE/d 6,125 7,000 BOE/d 6,000 EXXI acquired operations August 9, 2011 5,000 4,000 3,000 2,000 1,000 0 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Mar-12 May-12…
  32. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 32
    South Timbalier 54 Camshaft Completed Camshaft Log G-9A Sand Structure Map G-6B G-7 Camshaft G-7A G-8 Drilled to 12,743 MD / 11,575 TVD G-9A Logged 177 Net Pay in the G-6B, G-7, G-7A, G-8 and G-9A Sands Completed as…
  33. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 33
    South Timbalier 54 Sparkplug Ready Sparkplug Type Log H-1 ST3 H-3B Structure Map Sparkplug Currently Drilling at 10,306 Targeting the H-1 and H-3B Sands Updip of the H-1 ST3 Well Planned Single Completion Planned TD: 17,318 MD…
  34. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 34
    Probing the Depths 35
  35. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 35
    Ultra Deep Shelf Prospects John Paul Jones Lineham Creek Hook (in progress) England North Barbosa England Lafitte Bonnet Davy Jones Offset Blackbeard East Davy Jones (testing 1 well) Drake Calico Jack Barataria…
  36. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 36
    Davy Jones 1 Nearing Production Davy Jones 1 Log Top of Wilcox 2C Sand Structure Map Drilled and Cased to 29,122 MD Logged 200 of Net Wilcox Pay Completion/Testing Operations Ongoing WI: 15.84% NRI: 12.6% 37
  37. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 37
    Key New Technologies 13-5/8 25,000 psig BOPE 30,000 psig Wireline Pressure Control Equipment 25,000 psig/450 F Dual Wing Tree Dual 25,000 psig TRSCSSVs 30,000 psig Well Kill System Ultra High Yield Tubulars Extensive Design and…
  38. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 38
    Davy Jones 2 Next to Test Drilled and Cased to 30,731 MD / 27,900 TVD Logged 120 of Net Wilcox pay Encountered 192 Net Potential Pay in Tuscaloosa and Lower Cretaceous Cased and Suspended Pending Completion Planned for Fall…
  39. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 39
    Blackbeard East Regional Implications Final TD 33,882 MD / 33,318 TVD Logged 158 Net Pay in Miocene and Frio plus +300 Highly Fractured Sparta Section Development Plan Proceeding with Equipment Design Expected Timeline: Late…
  40. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 40
    Blackbeard West 2 Testing the Cupola Blackbeard East ST 168 Unit Blackbeard West Blackbeard West 2 Ship Shoal South Timbalier Located in 75 Feet of Water A Large 3-way Structural Closure Underneath and Adjacent to a Salt…
  41. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 41
    Lafitte A Plethora of Potential Located at Eugene Island Block 223 in 140 of Water Lafitte 211 Net Pay Found in Lower Miocene Including the Cris-R and Oligocene (Frio) Sands Additional 65 of Net Pay Found in the Upper Eocene…
  42. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 42
    Ultra-Deep Spanning the Ages Strategic Area 2 Strategic Area 3 Strategic Area 1 Initial Completions Target Blackbeard West 2 Blackbeard East 1 Separate Discoveries D rilling Base Salt Weld Potential Completion Upper Blackbeard West…
  43. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 43
    Life is Good Strong Base of Oil Production Drilling Leading to Production Ramp Up Crude Prices Put Wind at Our Back Ample Development and Exploration Opportunities What keeps you up at night Hedging to Protect the Downside…
  44. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 44
    Market Price Comparison Platts Index / Prompt Futures* 113.73 114.07 115 112.72 Brent has closed over 100 for 110 332 consecutive trading days. During the run up in 2008, WTI 105 only closed above 100 for 130 100 98.25…
  45. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 45
    Current Crude Hedge Profile 40.0 Brent Collar 35.0 Brent Put Spread Brent 3W Collar WTI 3W Collars 30.0 WTI Collars Proved Developed 1,000 bbls/D 25.0 20.0 15.0 10.0 5.0 - Sep-12 Sep-13 Sep-14…
  46. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 46
    Key Investment Highlights Multi-Year Drilling Inventory Fuels Organic Growth Legacy GOM Oil Fields Provide Significant Opportunity for Reserve Growth Oily Production Mix Drives Free Cash Flow Upside Potential from Ultra-Deep…
  47. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 47
    Potential Stock Upside* 180 Ultradeep 160 Additional Ultra-deep 5% Increase in EUR and Core Exploration 140 3P Success 2P 120 1P 100 80 60 40 Current Stock Price 20 0 Total Resources (1) Total Resources (1) *NAV…
  48. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 48
    Contact NASDAQ: EXXI AIM:EXXI www.energyxxi.com Stewart Lawrence, IRO Greg Smith, Director of IR Energy XXI (Bermuda) Limited Energy XXI (Bermuda) Limited 1021 Main Street, Suite 2626 1021 Main Street, Suite 2626 Houston, Texas 77002…
  49. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 49
    Addendum 50
  50. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 50
    Energy XXI: Growing Larger and Stronger Production (MBOE/d) Reserves (MMBOE) 50 45.3 140.0 41.4 116.6 120.0 40 54% 100.0 75.6 Growing 30 25.4 80.0 60.0 20 40.0 Production 10 20.0 0 - Replacing 3Q FY 2010 3Q FY 2011 3Q FY…
  51. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 51
    Enhanced Balance Sheet & Liquidity ( Millions) 6/30/2009 6/30/2010 6/30/2011 3/31/2012 Cash and cash equivalents (incl. cash at parent) 89 14 28 86 Short-term debt 4 3 4 3 Long-term debt (principal amounts): Revolving credit…
  52. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 52
    Aggressive Debt Paydown Change in Long Term Net Debt - Exxon Acquisition through 4/23/12 (MM) 1,400 XOM: 1,280.7MM 1,200 432.0MM 1,000 4/23/12: 848.7MM 800 600 Revolver Borrowings Less Cash 10% Notes 400 7.75%…
  53. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 53
    Operating Data per BOE Quarter Ended 12/31/10 03/31/11 06/30/11 9/30/11 12/31/11 3/31/12 MBOE/d 29.4 41.4 42.1 40.8 42.7 45.3 Oil % 69% 66% 67% 69% 72% 69% Revenue (Pre-hedge) 64.57 71.24 78.90 74.05 83.40 81.16 LOE Insurance Expense…
  54. UBS Global Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 54
    Updated Hedging Position* Fiscal Instrument Period Daily Volumes Average Price Index Quarter Type CRUDE OIL 1/-3/2012, 5-6/2012 Q3-Q4 2012 Put Spreads 5,000 bbl/day 65.00 sub-floor; 85.00 floor BRENT 1/2012-6/2012 Q3-Q4 2012 Collars…

From the store

Browse maps, data & reports in the Shale Experts store