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BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc.

Jones Energy Inc. · Sep 12, 2013 · 31 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. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 1
    Barclays CEO Energy-Power Conference September 2013
  2. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 2
    Offering Summary IPO Date: July 29, 2013 Ticker: JONE Exchange: NYSE IPO Shares: 12,500,000 Gross Proceeds: 187.5mm Price as of September 6, 2013: 16.16 Total Outstanding Shares: 49,336,333 (12,500,000 Class A, 36,836,333…
  3. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 3
    Company Summary Founded in 1988 Anadarko Key Formations: Cleveland and Granite Wash Identified Drilling Locations: 1,531 Headquartered in Austin, Texas Net Acres: 64,490 Arkoma Key Formation: Woodford Proved Reserves: 45 MMBoe…
  4. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 4
    Investment Highlights Mid-Con pure-play opportunity Geographic focus Focused on oil and liquids-rich opportunities Concentrated positions in the Anadarko and Arkoma basins Drilled 420+ horizontal wells Low-cost leader Low-cost…
  5. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 5
    Cost Impact on Returns Cleveland mm AFE IRR 4.7 5.0 4.8 100% 88% 80% 4.0 80% 3.1 3.0 60% 2.0 40% 2523% - 30% 1.0 20% - - Industry Average[1][2] Implied Average[1] Woodford AFE IRR mm 5.0 4053% - 50% 60% 5.0…
  6. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 6
    Drilling Within Cash Flow 12A 13E production CAGR Peers Small-caps Mid-caps 50% Jones stands alone relative to KOG the broader E&P set 40% 30% MHR BCEI OAS 20% PDCE REN MPO NOG AREX ROSE 10% SM EGN CXO LPI FST XCO…
  7. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 7
    Substantial Drilling Inventory Gross Identified 2013 Drilling & Completion Capex by Area: 200mm Drilling 2013 D&C Formation Sections Density Locations Capex (mm) Cleveland 155 5 521 175 4% 8% Tonkawa 53 4 194 - Marmaton 89 4…
  8. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 8
    25 Year Mid-Con Experts Mid-con Strat Column Other Zones Jones Energy Has Drilled Significant Operated Development Programs Series / Generalized System Epoch Stratigraphic Column Brown Dolomite (v / hz) Hugoton / Pontotoc 118 5 2…
  9. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 9
    History of Value Creation Over 700mm in Acquisitions Since 12/31/09 Major Acquisitions Bolt Ons Year Company Play / Purchase Price Year Company Purchase Price 245 million 2009 CRUSADER 2010 33 million ENERGY Cleveland play GROUP…
  10. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 10
    Asset Overview
  11. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 11
    Cleveland Overview LIPSCOMB WOODWARD HANSFORD ELLIS OCHILTREE DEWEY HUTCHINSON ROBERTS HEMPHILL ROGER MILLS CUSTER Jones Acreage High GOR Area Liquid Rich Fairway Historical Activity Acreage Position…
  12. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 12
    Cleveland Inventory Growth Cleveland Inventory 2004 - 2013 Key Points 600 Jones acquired locations Chalker through 7 deals as well as an active leasing program Exxon 234 (2004) 500 Shattuck 33 (2006) BP 24 (2007) ConocoPhillips 10…
  13. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 13
    Cleveland Type Section Cleveland Play - Below Checkerboard Marker - Above Des Moines Marker - Missourian Age - 6,500 9,000 - Up to 160 gross Marmaton Sand Play - Below Des Moines Marker - Des Moinesian Age - Aka Lower Cleveland - 9,000…
  14. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 14
    2013 Cleveland Activity and Results Jones Energy Jones Energy Houser 242-4H J.B. Doyle 704-12H IP30: 273 BOPD & IP30: 232 BOPD & 1,288 MCFD Ochiltree 1,842 MCFD LIPSCOMB Jones Energy Jones Energy Tubb 194-2H J.B. Doyle 704-14H…
  15. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 15
    Cleveland Frack History 1964 Lateral 3488 Lateral 3863 Lateral 4370 Lateral 4 Stage PP 8 Stage PP 20 Stage PP 18 Stage PP 25 Q CO2 25 Q CO2 60 Q CO2 60 Q CO2 2004 2005 2006 2007 2008 2009 2010 2011 2012 Current 2080 Lateral…
  16. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 16
    2013 Cleveland Type Curve & Economics Type Well Profile Type Curve Gross EUR 440 MBoe 10,000 100,000 Oil Wet Gas Total [2] (Bbl/d) (Mcf/d) (Boe/d) Wet Gas 1,362 MMcf 30 Day IP 279 945 490 Cumulative Production (% of Total EUR) 1…
  17. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 17
    Best in Class Cleveland Operator Jones Energy AFE Versus Competitors in the Cleveland (mm)[1] 6.0 Competitor Average = 4.7mm 5.4 5.0 5.0 4.5 4.4 34% 4.0 4.0 savings 3.1 3.0 2.0 1.0 0.0 Jones A B C D E Operator…
  18. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 18
    Historical Cleveland Operating Data Lateral Length (feet) [1] Frack Stages [1] 4,260 20 4,088 18 18 3,948 3,854 3,600 3,586 3,476 12 12 9 8 2,381 5 2,056 4 4 1,791 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2004…
  19. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 19
    Jones Operated Historical Data Cleveland IP 30 Historical Data (2011-2013) [1] Historic IP30 Historic IP30 Median: 446 Boe/d Average: 528 Boe/d 25 20 Well Count (84) 15 10 5 0 0-50 50-100 100-200 200-300 300-400…
  20. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 20
    Woodford Overview Wells and Acreage XTO Energy Vanguard AMI Jones Energy GRIFFIN 5H-9 MILLIS 2H-8 COMP: 4/13/2010 COMP: 4/2/2013 IP30: 3,571 MCFD IP30: 3,446 MCFD Continental Resources BLEVINS 1-1H COMP: 9/4/2008 IP30:…
  21. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 21
    Woodford Type Curve & Economics Type Well Profile Type Curve [4] Oil Wet Gas Total [3] (Bbl/d) (Mcf/d) (Boe/d) 30 Day IP 9 2,585 597 Gross EUR 711 MBoe 10,000 Cumulative Production (% of Total EUR) 100,000 1 Year 44% 18% 19% 3…
  22. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 22
    Best in Class Woodford Operator Jones Energy AFE Versus Competitors in the Woodford (mm)[1] 7.0 Competitor Average = 5.0mm 6.2 6.3 6.3 6.0 5.2 5.0 34% 4.1 4.2 4.2 savings 3.7 4.0 3.3 3.0 2.0 1.0 0.0 Jones A B C D E F…
  23. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 23
    Financial Overview Confidential
  24. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 24
    Financial Strategies / Policies High margin and efficient capital program 2013 capital program funded with cash from operations Prudent use of financial leverage Debt / LTM EBITDAX of 2.2x Debt / Proved reserves of 5.13/Boe…
  25. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 25
    Selected Historical Financials Proved Reserves (MMBoe) 3-Year Average F&D Costs (/Boe) 49 83 85 35 29 26 25 23 19 21 18 19 Median: 14.73 16 16 16 34 14 14 14 14 14 14 15 15 12 12 11 11 9 7 7 8 2010A 2011A 2012A…
  26. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 26
    Current Hedging Profile Liquids Hedges Natural Gas Hedges 9,000 (Bbl/d) 40,000 (Mcf/d) 8,000 35,000 7,000 30,000 6,000 25,000 5,000 20,000 NGLs 4,000 Crude Oil 15,000 3,000 10,000 2,000 1,000 5,000 - -…
  27. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 27
    Appendix
  28. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 28
    Experienced Management Team Founded Jones Energy in 1988 28 years of industry experience focused in the US Mid-Continent Formerly geologist with subsidiaries and affiliates of British Petroleum Active in the American Association of…
  29. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 29
    Experienced Management Team (Contd) Joined Jones Energy in 1998 23 years of industry experience Most recently SVP, Anadarko Group with Jones Energy Formerly District Engineer with Samson's Resources and operations Formerly…
  30. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 30
    Corporate Structure Structure Up-C Structure Public investors hold their proportional economic and voting interest through Jones Energy Inc. Existing owners hold their economic interest through JEH Management Public LLC and their…
  31. BARCLAYS CEO ENERGY POWER CONFERENCE – Jones Energy Inc. – slide 31
    Adjusted EBITDAX Reconciliation Jones Historical Pro forma Jones Historical Pro forma Dec, 31 Dec, 31 Jun, 30 Jun, 30 Jun, 30 Jun, 30 Jun, 30 in '000s 2010 2011 2012 2012 2012 2013 2012 2013 LTM 2013 Net income 24,780 61,130 (2,501)…

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