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Johnson Rice Energy Conference – Clayton Williams Energy Inc.

Clayton Williams Energy Inc. · Sep 29, 2014 · 26 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. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 1
    Clayton Williams Energy, Inc. Johnson Rice Energy Conference September 29, 2014 NYSE: CWEI www.claytonwilliams.com
  2. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 2
    Clayton Williams Energy, Inc. Company Overview Core areas in prolific oil rich regions of Texas Proven developmental drilling program in core areas Proved Reserves: 70 MMBOE Permian Basin 526% Reserve Replacement PV10 1.4 billion…
  3. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 3
    Key Investment Elements Liquids expected to be 85% of total 2014 production Over 250,000 acres in the best oily resource plays Delaware Basin 80,000 Eagle Ford 175,000 1,200+ locations Fleet of 14 drilling rigs Significant…
  4. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 4
    2014 Capital Budget/Funding Drilling & Completion Costs Total Capital: by Region: Expected Sources of Funds 440.0 million 388.7 million Leasing & Seismic 51.3 Cash Flow Debt Eagle Ford 66% 17% Drilling & 182.0 Permian Basin…
  5. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 5
    Growing Production from Core Assets 16,200 16,000 30% Average Daily Production (BOE) 1 13,216 12,374 12,000 Delaware Basin Eagle Ford 17% Other 8,000 53% 4,000 0 2012 2013 2014E 1 All periods pro forma to…
  6. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 6
    Capitalization and Liquidity As of ( millions) 6/30/2014 Cash & Equivalents 35.7 BB Revolver due 2019 25.0 Total Secured Debt 25.0 7.75% Senior Notes due 2019 599.7 Total Debt 624.7 Shareholders' Equity 374.5 Total…
  7. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 7
    CWEI Core Development Areas Permian Basin and Giddings Areas are two of the largest resource plays in the US CWEI has large contiguous acreage positions in both areas Developing proven acreage Continue D&C efficiencies…
  8. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 8
    Giddings East Texas Area Highlights Legacy Austin Chalk Area Vertical wells in 70s and 80s Horizontal wells from 90s to present 175,000 net acre position Repeatable Eagle Ford Shale Program Eagle Ford Shale underlies Austin…
  9. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 9
    Eagle Ford Shale Horizontal Play Surrounding Horizontal Activity Area Highlights Ongoing horizontal well program 400% area production growth for 2014 PF Derisking extensive position in Robertson, Anadarko Halcon Burleson and Lee…
  10. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 10
    Eagle Ford Shale Accelerating Growth Eagle Ford Shale BOE/d 3,000 Future D&C Efficiencies: 2,500 Increased proppant volumes 2,000 Increased well density 1,500 Simultaneous fracs 2,800 Modified cluster designs 1,000 Extended…
  11. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 11
    Southern Delaware Basin Resource Potential Stacked pay 11 potential producing horizons 3,500 oil column from 8,000 11,500 REEVES Resource potential: 400 MMBOIP per section Vertical and horizontal development potential CWEIs…
  12. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 12
    Delaware Basin Reeves County Area Highlights Derisked Wolfcamp A Reeves County Horizontal Activity 17 wells on production Peak 30day average: 754 BOE/d Shell Rosetta Testing Wolfcamp C 1 well on production 30 days Peak 30day…
  13. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 13
    Reeves County Improving Production & Upside Potential Delaware Basin BOE/d 5,000 2,500 4,800 2,730 1,976 0 Horizontal Upside 2012 2013 2014 Targets Potential Wolfcamp A Peak 30Day Averages 900 600 856 754 300 423…
  14. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 14
    Reeves County Pipeline System Gas 70 miles 3 to 8 diameter 25,000 MMCF/d capacity Oil 71 miles 3 to 8 diameter 18,000 BO/d capacity Salt Water Disposal 65 miles 3 to 6 diameter 20,000 BW/d capacity 1 CWEI disposal well &…
  15. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 15
    Permian Acreage Footprint per 1,000 Share Holding 14 Acres 6 Acres 5 Acres 4 Acres CWEI Company A * Company B * Company C * * Source: Bloomberg Industries; 18 public companies selected 17
  16. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 16
    Eagle Ford Acreage Footprint per 1,000 Share Holding 13 Acres 2 Acres 2 Acres 1.5 Acres CWEI Company A * Company B * Company C * * Source: Wood MacKenzie; 28 public companies selected 18
  17. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 17
    Shareholders at June 30, 2014 52% 44% Officers & Directors Institutions Retail 4% 19
  18. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 18
    Key Takeaways Desta Drilling Rig 17 Longterm focused Reeves County, Texas Superior land position in the Delaware Basin & Eagle Ford Shale Shareholders have more acreage exposure in two of the most oil prolific regions in the US…
  19. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 19
    Proved Reserves (SEC Case) at 12/31/2013 Proved Reserves (MMBOE) Reserve replacement of 526% 70 Reserve Life 13.3 years 60 50 Trend is towards higher concentration in oil 40 75.4 70.0 30 64.3 51.1 20 10 0 2010 2011 2012 2013…
  20. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 20
    Summary of Hedges Swaps: Oil Bbls Price Production Period: 3rd Quarter 2014.. 530,200 96.87 4th Quarter 2014.. 503,200 96.92 1,033,400 96.90 23
  21. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 21
    Guidance Estimates Actual Actual Estimated Ranges Estimated Ranges Three Months Ended Three Months Ended Six Months Ending Fiscal Year Ending March 31, 2014 June 30, 2014 December 31, 2014 December 31, 2014 (Dollars in thousands,…
  22. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 22
    Historical Production & Operating Metrics Year ended December 31, 2011 2012 2013 Production: Oil (MBbls) 3,727 3,821 3,692 Natural Gas (MMcf) 8,594 8,072 6,188 Natural gas liquids (MBbls) 275 433 532 Total Production (MBoe) 5,434…
  23. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 23
    Historical Financial Summary Year ended December 31, ( thousands, except per unit statistics) 2011 2012 2013 Average Realized Prices: Oil (/Bbl) 92.43 90.97 95.05 Gas (/Mcf) 5.30 3.59 3.59 NGL (/Bbl) 53.37 38.95 33.26 Price After…
  24. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 24
    EBITDAX Reconciliation to Net Income Year ended December 31, ( thousands) 2011 2012 2013 Net income (loss) 93,823 35,103 (24,862) Interest expense 32,919 38,664 43,079 Income tax expense (benefit) 52,142 22,008 (12,428)…
  25. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 25
    Historical Credit Metrics Debt/Prov. & Prov. Dev. Reserves (/BOE) Debt / EBITDAX 20 18.67 16.72 16 3.4x 13.49 12 10.74 2.5x 9.14 8.23 8 1.6x 4 2011 2012 2013 2011 2012 2013 Debt / Proved Reserves Debt / Proved…
  26. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 26
    Contact Information: Clayton Williams Energy, Inc. www.claytonwilliams.com Patti Hollums Director of Investor Relations 432.688.3419 phollumsclaytonwilliams.com 29

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