Halcn/RAM Transaction Summary Why RAM Energy Resources Solid platform Concentrated ownership Stock Listing Oil levered Simple balance sheet Modifications Attractive valuation New Senior Management and Board Ticker change to…
Highlights Proven Management Team With Significant Ownership Stake Strong Technical Team With Extensive Resource Play Experience Oil, Condensate And Liquids Focus Will Provide Compelling Economics Significant Potential For…
Halcn Resources Strategy Follow a proven model Concentrate efforts in emerging liquids-prone plays in the U.S. Maintain operational control Exploit advances in technology Aggressive portfolio management Focus on lifting costs…
Were Aligned with You . . . % Owner Shares (MM) (2) Ownership Halcn Resources LLC (1) 110 81 Other Owners 27 19 Total 136 100 (1) Includes EnCap Investments L.P., Liberty Energy Holdings LLC, Mansefeldt Investment Corp and…
Whats the Plan Net Acres Targeted Areas Utica / Point Pleasant 150,000 - 250,000 Wilcox 50,000 - 75,000 Woodbine/Eagle Ford 50,000 - 75,000 Mississippian Lime 50,000 - 100,000 Total Targeted Areas 300,000 - 500,000 3 Exploratory…
Target 2012 Resource Potential Utica/Point Pleasant Wilcox Woodbine/Eagle Ford Mississippian Lime 875 MMboe 123 MMboe 52 MMboe 50 MMboe Target Net Acres = 200,000 Target Net Acres = 62,500 Target Net Acres = 62,500 Target Net Acres =…
Utica/Point Pleasant Overview Focus volatile oil and liquids-rich Target Acreage: 150,000 250,000 window NY Utica/Point Pleasant vs. Eagle Ford Similar gross thickness Slightly less porosity PA Lower water saturation Utica/Point…
Utica/Point Pleasant Reservoir Characteristics UTICA UTICA 8400 Net Pay 131 ft Effective Porosity 2.85% 8450 Water Saturation 25.8% Gas Filled Porosity 2.1% Permeability 287 Nd 8500 nt Pleas POINT PLEASANT 8550 Net Pay…
Utica/Point Pleasant Single Well Type Curve Play: Utica/Point Pleasant Estimated Avg. Well Cost: 6.5-7.5 MM Target Acreage: 150,000-250,000 acres Est. Spud-to-Production: 90 days Rig Count Estimate: 2H12: 2 Wells Planned: 2H12:…
Wilcox Overview Oil-prone reservoir with significant Target Acreage: 50,000 75,000 associated gas and NGLs Historical production rate limits and commingling restrictions removed from Louisiana regulations LA 100 sq. mile 3D…
Wilcox Log Section Upper Wilcox Eocene age tight sandstones Middle and lower Wilcox targets Middle Wilcox 11,000- 15,000 Structurally controlled production Vertical wells Multi-stage fracs Lower Wilcox Source: Industry…
Wilcox Single Well Type Curve Play: Wilcox Estimated Avg. Well Cost: 7.5-8.5 MM Target Acreage: 50,000-75,000 acres Est. Spud-to-Production: 60-90 days Rig Count Estimate: 2H12: 1 2H12 Wells Planned: 2H12: 3-5 Oil: EUR…
Woodbine/Eagle Ford Overview Target Acreage: 50,000 75,000 Organic rich, laminated sand section directly above the Buda Upper Cretaceous section 40% silica and clastics = natural fractures Geologically equivalent to the TX…
Woodbine/Eagle Ford Log Section Depositional deltaic system Multiple high quality sand lenses 5,500- 6,500 depth Liquids-rich Supported by thick Eagle Ford GLOSSARY source rock ASTN Austin Chalk Regional studies indicate: SBCV…
Woodbine/Eagle Ford Single Well Type Curve Play: Woodbine/Eagle Ford Estimated Avg. Well Cost: 5.5-6.5 MM Target Acreage: 50,000-75,000 acres Est. Spud-to-Production: 60-90 days Rig Count Estimate: 2Q12: 1 2H12: 1 Wells…
Mississippian Lime Overview Initially developed using vertical wells Target Acreage: 100,000 (1) Carbonate reservoir (high permeability) Predominately oil production KS Shallow drilling depths (4,000- 6,000) Mississippian Lime…
Mississippian Lime Log Section Chat High porosity (20-30%) High permeability Associated with karsting High fluid volumes Dense limestone High porosity tripolitic chert lenses embedded within the low porosity/permeability…
Mississippian Lime Single Well Type Curve Play: Mississippian Lime Estimated Avg. Well Cost: 2.5-3.5 MM Target Acreage: 50,000-100,000 acres Est. Spud-to-Production: 60-90 days Rig Count Estimate: 2Q12: 1 2H12: 2 Wells Planned:…
Stealth Plays: Exploratory Liquids Rich Plays Plan to drill four to six exploratory wells in 2012 Due to competitive concerns, unable to discuss regions at this time, but different than the four areas targeted Oil and…
Financial Strategy Simple Capital Structure Portfolio Management Financial Flexibility Prudent Hedging Strategy 26 NASDAQ: HK
2012 Capex Budget 2012 Capex By Area 2012 Capex By Category Other Infrastructure 3% 7% Infrastructure 7% Seismic Drilling and 3% Completions Exploratory Oil 25% Plays 8% Wilcox 5% Woodbine/Eagle Ford 10%…
Appendix NASDAQ: HK
Derivative Summary OIL (Bbls) NATURAL GAS (MMbtu) Floors Ceilings Put Options Sold Floors Ceilings Bare Floors Year Per Day Price Per Day Price Per Day Price Year Per Day Price Per Day Price Per Day Price Q1'12 2,000 80.00 2,000…
Management and Board of Directors Name Halcn Resources Title Management: Floyd C. Wilson Chairman, President and Chief Executive Officer Mark J. Mize Executive VP, Chief Financial Officer and Treasurer Board of Directors: Floyd C.…
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