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Q1 2015 INVESTOR UPDATE – EP Energy Corp

EP Energy Corp · Apr 30, 2015 · 20 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. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 1
    First Quarter 2015 Investor Update April 30, 2015
  2. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 2
    Strong Start to 2015 Operational outperformance Captured 20% well cost savings Lower adjusted cash operating costs Growing oil volumes up 23% from 1Q14 Positive rate of change in Wolfcamp program Financial strength and flexibility…
  3. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 3
    1Q15 Operations Summary Equivalent Natural Completed Production Oil NGLs Gas Program Wells (MBoe/d) (MBbls/d) (MBbls/d) (MMcf/d) Eagle Ford 38 54.7 38.0 7.7 54 Eagle Ford 288 Wolfcamp 74 Wolfcamp 10 17.9 9.5 3.9 27 Altamont…
  4. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 4
    Lower Capital and Operating Costs Gross Well Cost1 (MM) Eagle Ford 7.2 7.0 6.1 Total Company LOE FY 2014 1Q'15 Best 1Q Well (/BOE) Wolfcamp 6.2 5.6 5.42 5.12 4.8 FY 2014 1Q'15 Best 1Q Well 1Q'14 1Q'15…
  5. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 5
    Financial Results 6
  6. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 6
    1Q Financial Highlights Adjusted EBITDAX of 366MM up 5% from 1Q14 Adjusted unit cash operating costs down 15% from 1Q14 40 per barrel adjusted unit cash margins Sector-leading hedge position Strong liquidity of 1.7 billion at…
  7. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 7
    1Q Summary Results 1Q 2014 1Q 2015 Volumes Oil (MBbls/d) 48.6 60.0 Natural gas (MMcf/d) 197 185 NGLs (MBbls/d) 9.3 11.6 Equivalents (MBoe/d) 90.7 102.4 % Oil 54% 59% % Liquids 64% 70% Adjusted EPS 0.18 0.13 Discretionary Cash…
  8. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 8
    Lower Cash Costs Support Unit Margins /Boe Margin / Cost 1Q 2014 1Q 2015 1Q Avg. WTI: 98.68 48.63 Unit Revenue 59.12 54.07 59.12 LOE (5.42) (5.12) 54.07 Adjusted Net G&A (4.04) (3.36) Production Taxes (3.72) (2.13) Other Taxes (0.28)…
  9. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 9
    Solid Hedge Program Provides Multi-Year Price Protection 2015 2016 2017 Oil Fixed Price Hedges Fixed Price Swap Oil volumes (MMBbls)1 16.1 18.0 4.0 Average floor price (/Bbl) 91.16 80.29 66.11 Percent hedged based on midpoint of…
  10. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 10
    Updated 2015 Outlook Original Guidance Updated Guidance Year/Year Change From 2014 Oil production (MBbls/d) 56 64 57 63 Up 10%1 Total production (MBoe/d) 94.5 109.5 97.0 107.0 Up 4%1 Capital program ( billion) 1.2 1.3 1.2 1.25 Down…
  11. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 11
    Asset Programs 12
  12. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 12
    Eagle Ford: Franchise Oil Program Averaged five rigs and four stimulation crews in 1Q Oil Production (MBbls/d) 37.8 38.0 38 wells completed 33.7 35.9 Production growth on track 31.6 Improved performance 26.1 27.3 Increased…
  13. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 13
    Eagle Ford: Completion Optimization Results 60 IP 30 (BOPD) +14% 1000 50 Cumulative Production, MBO 40 Oil Production, BOPD 800 30 909 600 786 20 706 695 10 400 FY 2014 2014 (89 wells at Current Type Curve…
  14. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 14
    Wolfcamp: Continued Performance Improvement Averaged two rigs and one stimulation crew in 1Q 10 wells completed Oil Production Production up 32% (1Q14 to 1Q15) (MBbls/d) 9.5 Continuing Wolfcamp B/C development 9.4 9.2 Increased…
  15. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 15
    Wolfcamp: Drilling Optimization Increased subsurface knowledge Improved lateral landing zone 3-D seismic identifies highest identification potential pay-zones Land in highest organic content Assist with drilling geo-steering Minimize…
  16. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 16
    Wolfcamp: Positive Rate of Change 45 Wolfcamp B&C IP 30 Results (BOPD) 600 40 35 +68% Cumulative Production, MBO 30 400 Type Curve IP 30 25 Oil Production, BOPD (369 BOPD) 20 15 200 10 5 0 0 20 40 60 80…
  17. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 17
    Wolfcamp: Improved Initial 1Q Production 1200 1Q 2015 State Reported 24 Hour-IP Test Data (Four County Area) 1000 EPE Current Type Curves 565 BOEPD TC 800 412 BOPD TC Barrels per day 600 400 200 0 EPE Crockett Co.…
  18. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 18
    Wolfcamp: Optimizing Development Pattern Currently developing with mini-chevrons Wells spaced 770 apart in A, B, C benches with 1,540 between wells in same landing zones Minimizes offset frac interference Alters rock stresses which…
  19. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 19
    Looking Ahead Maintain focus on cost and capital discipline Improved 2015 outlook Advantaged low-cost operator Additional improvements in well performance Ongoing completion enhancements Increased target landing zone accuracy…
  20. Q1 2015 INVESTOR UPDATE – EP Energy Corp – slide 20
    First Quarter 2015 Investor Update April 30, 2015

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