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Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc.

EPL Oil & Gas, Inc. · Jun 9, 2013 · 32 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 Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 1
    OIL GROWTH VALUE GLOBAL HUNTER SECURITIES 100 ENERGY CONFERENCE June 2013
  2. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 2
    Company Overview At a Glance Oil Value Play Long Lived Oil Core Acreage Growth Driven Portfolio Louisiana Balanced Growth Strategy MP Complex WD 29 Field Stock Currently Undervalued South Timbalier Area Market Data SM 239 Area…
  3. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 3
    We Are The Premium Long-Term Play A Targeted Approach Prime Real Estate Focused Acquire & in the Heart of Exploit Strategy - the Basin An Unparalleled Track Record Unmatched Technical Operational Expertise To Exploit…
  4. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 4
    Impressive Year-Over-Year Growth 21% Increase in Production 96% of Revenue from Crude Oil 28% Increase in EBITDAX 53% Increase in Adj. Net Income 54% Stock Price Appreciation 5
  5. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 5
    2013 - Compelling Outlook 80% Oil by Production 71% Annual Oil Production Increase 75% Increase in EBITDAX 30% Increase in Capex 62% of Oil Production Hedged All figures estimated based on the midpoint of Company…
  6. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 6
    Not Your Typical GOM Company
  7. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 7
    Oil-Weighted Proved Reserves Reserves by Commodity Current commodity environment pays 5xs more for oil than natural gas on an energy equivalent basis Successful shift from natural gas profile to 80% oil in two years 95% of…
  8. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 8
    Acquire & Grow Oil Organically Achieved Oil Growth by Acquiring Assets and Executing Successful Organic Programs Dec 2012 Exit Rate Organic Growth Predominately from ASOP and Legacy Assets Storm Downtime Significant…
  9. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 9
    Grow to Increase Opportunity Set 77.4 MM Organic Growth 187% Reserve 9.9 MM Replacement 37.1MM Organic Growth 100% Reserve 4.7 MM Replacement 27.4 MM Acquisition 35.7 MM Organic Growth 1.2 MM Acquisition 9.4 Base* Base*…
  10. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 10
    Strategic Proved Reserve Base Lower Costs, Higher Margins & Greater Upside Reserves by Area 1P Reserves 77.4 MMboe Operational knowledge and regional expertise drives growth potential Proximity of acreage enables EPL to share…
  11. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 11
    Abundant Free Cash Flow Operating Within Cash Flow Capital spend on exploration & development will remain well within cash flow Free cash flow from assets allows EPL to further grow liquidity Fully identified 300Mm Budget 200…
  12. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 12
    Protecting Free Cash Flow Hedges Allow FCF in Any Environment Evergreen hedge program to protect cash flow 62% of 2013 production hedged w/ majority 106/Bbl Brent swaps 100 oil generates 700 million in revenue 100 oil…
  13. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 13
    Not Your Typical GOM Company
  14. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 14
    Accelerating Growth Align the Value with Grow the Asset the Asset Position for Grow organically Continue organic growth through the drill-bit Growth using state-of-the-art Acquire reprocessing techniques Begin strategic…
  15. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 15
    Organic Development Drives Success Rapid Reserve Growth (MMBoe) Efficient exploiter of acquired assets Total: 27.0 Tripled reserves in < 2 years Probable 7.2 Acquired assets for 238 million 2012 1P SEC PV-10 681 million Total:…
  16. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 16
    Repeatable Development Programs Organic Reserve Add Exposure to Accelerate Growth Multiple Pay Horizons Unique, core legacy assets Huge structures with stacked pays Quick cycle times Reserve add exposure Combined 1P asset base has…
  17. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 17
    Exploit Recently Acquired Assets Underdeveloped Asset Base with High Impact Potential Recent Hilcorp Acquisition Summary Proved Assets were non-core to seller Reserves (Mmboe) PV-10 (Mm) Net Developed Producing Acreage (M) wells…
  18. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 18
    Unlocking Our Upside Potential Unmatched Technical Expertise in Region State-of-the-Art 3-D Seismic Coverage 1,2 3 1) DEPTH 2) FREQUENCY ENHANCEMENT 3) INVERSION 1) DEPTH 2) FREQUENCY 2 1) DEPTH ENHANCEMENT 2 1) DEPTH 2)…
  19. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 19
    Not Your Typical GOM Company
  20. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 20
    A Case for Owning EPL Balancing Your Portfolio 9.0 EPL trades at a significant discount to: 7.7 Oil shale players 8.0 Natural gas shale players 6.6 7.0 2013 TEV / EBITDA EPL offers investors significant upside 6.0 potential…
  21. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 21
    EPL: A GOM Growth Company 1P 77 MMBOE 2P: 2P: 16 MMBOE Booked 16 MMBOE excludes Hilcorp + In historical field pays TBD Hilcorp Multi-year inventory + 50+ MMBOE Drilling Inventory 3P: Just below Field Pays 3P 12,000…
  22. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 22
    2P Reserves Booked Reserves and Upside Potential Hilcorp Acquisition (Under Review) Inventory 50+ MMBOE Legacy 16 MMBOE PUDs roll off to 2P New undrilled opportunities Performance adds in field pays 23
  23. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 23
    Cash Margins Outperforming Peers Highest cash margin Highest realized oil price 19.4 17.4 3.8 5.3 16.6 3.8 14.7 63.4 4.1 56.8 46.4 32.1 Production from Oil 74.5% 68.1% 50.1% 42.0% Oil Revenue /Bbl 108.88 105.68…
  24. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 24
    Comparison Across Basins % Oil Production 2012 Cash Margins (/boe) 80% 70 60 60% 50 40 40% 30 20% 20 10 0% 0 EPL Peer Avg. Oil Shale Gas Shale EPL Peer Avg. Oil Shale Gas Shale PEERS Shallow GoM OIL SHALE GAS SHALE…
  25. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 25
    Why Invest in EPL Large, captured asset base of low- risk, repeatable oily assets Self-funded growth plan Majority of 2013 Capex program allocated toward low-risk, oil development Strong balance sheet Unmatched technical…
  26. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 26
    Key Takeaways Compelling value proposition: current Value market valuation does not reflect the quality of our assets & organic inventory Oil Captured a large, high-quality oily asset base with low decline curves Technical…
  27. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 27
    Appendix
  28. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 28
    The GOM Shelf - Why Now Before Today Shallow Pay Drilled many shallow Huge Technology Jump at wells but bypassed Substantially Lower Costs: productive sands- Higher quality seismic concentrated on imaging at reduced costs 100+…
  29. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 29
    Strong Management & Professional Team Highly Experienced & Scalable Organization Gary Hanna President & CEO David Cedro T. J. Thom Mac Jensen Andre Broussard Chad Williams SVP, SVP, SVP, SVP, SVP, Chief Accounting Chief…
  30. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 30
    2013 Guidance ESTIMATED PRODUCTION & SWAP HEDGE VOLUMES Net Production (per day) 2Q 2013 Full Year 2013 Oil, including NGLs (Bbls) 17,000 - 18,000 17,000 - 18,500 Natural gas (Mcf) 27,000 - 33,000 24,000 - 30,000 Boe 21,500 - 23,500…
  31. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 31
    Hedging Summary WTI SWAPS BRENT SWAPS BRENT COLLARS TOTAL OIL HEDGED NATURAL GAS SWAPS Daily Monthly Swap Daily Monthly Swap Daily Monthly Daily Daily Monthly S wap Volume Volume Level Volume Volume Level Volume Volume Volume Monthly…
  32. Global Hunters Security 100 Global energy conference – EPL Oil & Gas, Inc. – slide 32
    Not Your Typical GOM Company Principal Corporate Office Investor Relations Contact: Houston Office T.J. Thom 919 Milam, Suite 1600 Phone: (504) 799-1902 Houston, TX 77002 Email: Phone: (713) 228-0711 tthomeplweb.com New Orleans…

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