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APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc.

Clayton Williams Energy Inc. · Apr 16, 2012 · 29 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. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 1
    Clayton Williams Energy, Inc. IPAA OGIS New York Conference April 16, 2012 NASDAQ: CWEI www.claytonwilliams.com
  2. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 2
    Experienced Management Team Clayton W. Williams, Jr. Ron D. Gasser President & CEO Engineering Manager 55 years with Clayton Williams Energy 10 years with Clayton Williams Energy Mel G. Riggs Sam Lyssy Executive Vice President &…
  3. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 3
    Company Overview CWEI as of 12/31/11 Asset Overview Market Cap: 922.9 million Oil focused strategy Enterprise value: 1.5 billion Developmental drilling program in proven oil producing areas Proved Reserves: 64.3 MMBOE Own and…
  4. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 4
    2011 Highlights 2011 Cash Flow from Operations of 280 million, up 34% Total Proved Reserves of 64.3 million BOE, up 26% 77% Oil & NGL and 61% Proved Developed 384% of 2011 Production Replaced by Reserve Additions 384% Added…
  5. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 5
    Proved Reserves (SEC Case) at 12/31/2011 Reserve replacement of 384% Reserve Life 12 years Trend is towards higher concentration in oil By Location Proved Reserves (MMBOE) 100% 4% 3% 70 15% 22% 17% 60 75% 26% 50 50% 40 74% 80%…
  6. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 6
    2012 Capital Budget 2012 Capital Budget 2012 Drilling & Completion 391.1 million 303.8 million Facilities 20.6 Permian Basin 266.0 Giddings Area Leasehold & 34.5 Seismic Drilling & 66.7 Completion 303.8 Other 3.3 7
  7. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 7
    Average Daily Production (BOE) 14,000 12,250 12,000 10,964 10,047 10,000 8,507 8,000 7,283 Gas 6,000 4,909 Oil 3,924 4,000 3,833 2,000 - 2009 2010 2011 2012E 8
  8. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 8
    Summary of Hedges Swaps: Oil Bbls Price Production Period: 1st Qtr. 2012. 444,000 95.70 2nd Qtr. 2012. 410,000 95.70 3rd Qtr. 2012....384,000 95.70 4th Qtr. 2012... 362,000 95.70 2013.. 1,200,000 104.60 2014.. 600,000 99.30…
  9. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 9
    Capitalization and Liquidity As of ( millions) 12/31/2011 Cash & Equivalents 17.5 BB Revolver due 2019 180.0 Total Secured Debt 180.0 7.75% Senior Notes due 2019 349.5 Total Debt 529.5 Shareholders' Equity 343.5 Total…
  10. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 10
    Operations Overview 11
  11. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 11
    Desta Drilling 14 Rigs 7 1300 HP Rigs - Triples Drills vertical & horizontal wells Rated to 14,000 5 1300 HP RG Rigs Drills vertical & horizontal wells Rated to 13,500 2 1000 HP RG Rigs Drills vertical & horizontal wells Rated…
  12. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 12
    CWEI Core Development Areas CWEI has strong positions in the Permian Basin and Giddings Areas Emerging plays driven by resource potential and technology expansion Oil and liquid rich areas Permian Basin Texas Rig Activity Giddings…
  13. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 13
    Permian Basin Properties Developing Areas Andrews County Fuhrman-Mascho San Andres Andrews County Loco Hills Wolfberry Yeso Warwink Bone Springs Glasscock/Sterling County Wolfberry Reeves/Loving County Wolfcamp/Bone…
  14. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 14
    Permian Basin - Andrews County Wolfberry Drilling Program: Proven development program High oil & liquid rich play Vertical wells - 11,500 with multiple stage frac 172 wells to date Formation: Spraberry/Wolfcamp/Strawn Well…
  15. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 15
    Permian Basin Delaware Basin Oil Play Drilling Program: Emerging oil rich resource play Vertical Wells comingling 3rd Bone Springs & upper Wolfcamp Early stage of development program 57 wells spud to date 400 potential locations…
  16. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 16
    Permian Basin - Delaware Basin Oil Play Wolfbone Vertical Wells Economics (vertical): Gross Reserves: 200 250 MBOE AFE Costs: 4.2 MM Working Interest: 75% - 100% Avg. NRI: 56% - 75% Planned Activity: Vertical wells spud to…
  17. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 17
    Permian Basin East Area Overview: Midland Basin Glasscock/Sterling Co. Wolfberry vertical 8 wells drilled last 6 mos. 7,000 9,000 depth Horizontal potential Wolfcamp Cline shale 34,400 net acres 18
  18. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 18
    Permian Basin Future Drilling Projects Andrews County Andrews County Furhman-Mascho Ellenberger vertical Developing current acreage Horizontal potential Expanding position Area Overview: CWEI controls operations Loco Hills…
  19. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 19
    Permian Basin Future Exploitation Opportunities Flying M Field Lea County, NM East & South Area Overview: Huntley Fields Garza County, TX CWEI controls operations Yates, Queen, Grayburg & San Andres Formations Halley Field…
  20. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 20
    Giddings Austin Chalk Current Program: Primarily oil Horizontal wells 100% working interest 1 rig drilling in area In fill development Ongoing refrac program Eagleford potential Economics: Gross Reserves: 90 100 MBOE AFE…
  21. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 21
    Giddings Eagle Ford Shale Activity: Primarily oil Smalley-Robinson Horizontal wells Unit 1 100% working interest 4 Wells Drilled & Producing in Burleson & Loebau Lee Counties Unit 1 1 Well Drilled & Producing in Wilson Broesche…
  22. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 22
    Key Takeaways Focused on oil Significant acreage position in our core areas of the Permian Basin & Giddings Primarily focused on the Permian Basin Major acreage position in emerging Delaware Basin oil play Large development…
  23. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 23
    Appendix 24
  24. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 24
    Guidance Estimated Ranges Year Ending December 31, 2012 (Dollars in thousands, except per unit data) Average Daily Production: Oil (Bbls) ......................................................... 11,250 to 11,650 Gas…
  25. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 25
    Historical Production & Operating Metrics Year ended December 31, 2009 2010 2011 Production: Oil and NGL (MBbls) 3,105 3,667 4,002 Natural Gas (MMcf) 15,949 10,750 8,594 Total Production (MBoe) 5,763 5,459 5,434 Operating Metrics…
  26. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 26
    Historical Financial Summary Year ended December 31, ( thousands, except per unit statistics) 2009 2010 2011 Average Realized Prices: Oil (/Bbl) 57.37 76.44 92.43 Gas (/Mcf) 4.35 5.17 5.30 NGL (/Bbl) 30.83 42.47 53.37 Price After…
  27. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 27
    EBITDAX Reconciliation to Net Income Year ended December 31, ( thousands) 2009 2010 2011 Net income (loss) (115,960) 36,938 93,823 Interest expense 23,758 24,402 32,919 Income tax expense (benefit) (64,096) 20,634 52,142 Exploration:…
  28. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 28
    Historical Credit Metrics Debt/Prov. & Prov. Dev. Reserves (/Boe) Debt / EBITDAX 16 13.82 13.49 3.0x 11.74 12 11.17 8.23 8 7.54 1.6x 1.6x 4 - 2009 2010 2011 Debt / Proved Reserves Debt / Proved Developed Reserves 2009…
  29. APRIL 2012 IPAA OGIS NEW YORK – Clayton Williams Energy Inc. – slide 29
    Contact Information: Clayton Williams Energy, Inc. www.claytonwilliams.com Patti Hollums Director of Investor Relations 432.688.3419 phollumsclaytonwilliams.com 30

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