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Howard Weil Energy Conference – EP Energy Corp

EP Energy Corp · Mar 26, 2014 · 25 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. Howard Weil Energy Conference – EP Energy Corp – slide 1
    Howard Weil Energy Conference Brent Smolik Chairman, President and Chief Executive Officer EP Energy Corporation March 26, 2014
  2. Howard Weil Energy Conference – EP Energy Corp – slide 2
    EP Energy Today Oil-focused growth Net Acres: EAGLE FORD SHALE 91,675 Net Acres: WOLFCAMP SHALE 138,173 company with four core Proved Reserves (MMBoe): 4Q 2013 Net Daily Production (MBoe/d): 291.2 40.3 Proved Reserves (MMBoe): 4Q 2013…
  3. Howard Weil Energy Conference – EP Energy Corp – slide 3
    Performance Highlights Execution Growth Concentrated asset base with high Significant oil production growth degree of operating control 63% CAGR (2011-2014E) Delivered lower well costs 547.5 MMBoe total proved reserves All…
  4. Howard Weil Energy Conference – EP Energy Corp – slide 4
    Efficient Growth Lower Well Costs in All Programs1 Significant Oil Production Growth (MM) 9.9 8.3 7.4 6.3 Total Company Annual Oil Production2 Eagle Ford (MBbls/d) 2011 2012 2013 Best Well 5054 9.9 7.7 5.6 4.8 37…
  5. Howard Weil Energy Conference – EP Energy Corp – slide 5
    Higher Value MMBoe Year-end PV-10 Value1 6.4 Billion 8.9 Billion 147.3 3.1 547.5 428.7 (31.6) 2012 Production Additions Revisions 2013 1.4 billion 2013 Oil & liquids represent Boe ofofrisked 67 percent provedunproved…
  6. Howard Weil Energy Conference – EP Energy Corp – slide 6
    High-Quality, Concentrated Asset Portfolio Eagle Ford Wolfcamp Altamont Haynesville 8
  7. Howard Weil Energy Conference – EP Energy Corp – slide 7
    Eagle Ford: Franchise Program High return assets in the oil window Oil Production (MBbls/d) Reduced well cost 27.3 Pad drilling 26.1 22.2 Well/completion design 20.4 18.5 6 rigs running [insert map product 15.7 windows] Record…
  8. Howard Weil Energy Conference – EP Energy Corp – slide 8
    Eagle Ford: Continuous Improvement Improved performance EUR Progression (MBoe) Multi-year EUR progression Success drivers 663 719 586 Refining lateral placement 500 Improving stimulation design and execution Resin-coated sand,…
  9. Howard Weil Energy Conference – EP Energy Corp – slide 9
    Wolfcamp: Rapidly Growing Oil Asset TX Acreage STERLING TOM withGREEN highest oil in place in Southern Midland Basin Thickest part of basin REAGAN Highest organic content UPTON IRION Wolfcamp A, B and C all present 4 rigs now…
  10. Howard Weil Energy Conference – EP Energy Corp – slide 10
    Wolfcamp: Current Development Concept Expanding development across acreage position 2014 primarily combined B/C development Adding A wells 770' between wells in each zone Completing all wells on a pad prior to producing…
  11. Howard Weil Energy Conference – EP Energy Corp – slide 11
    Wolfcamp: Improving Results 23 Current development plan 125 Cumulative Production (MBoe) focused on combined Current Type Curve Well Average (up to 29) Individual Wells development in Wolfcamp B and C (90-100 wells) 100 Well…
  12. Howard Weil Energy Conference – EP Energy Corp – slide 12
    Wolfcamp: Expanding Development Region derisked by industry activity and tests 1,200+ horizontal wells 2014 Activity Focus in four county area1 - Broader Development - 36 Miles Across All Acreage - A/B/C Bench Wells 160 A and C…
  13. Howard Weil Energy Conference – EP Energy Corp – slide 13
    Altamont: Consistent Growth Thickest, highest pressure in the source rock portion of the Uinta Basin 4 rigs now running Record monthly production in December 13 of 13.1 MBoe/d (10.0 MBbls/d of oil) 3540 well completions (14E)…
  14. Howard Weil Energy Conference – EP Energy Corp – slide 14
    Financial Execution Strong financial performance from core assets Higher oil volumes improve unit margins and returns Solid hedge positions in 20142016 support cash flows Significant financial flexibility to fund growth 2.4 billion…
  15. Howard Weil Energy Conference – EP Energy Corp – slide 15
    Efficient Capital 2014E Capital: 2.0 Billion Project level IRR 45%1 35-40 well Facilities, lease Other completions & seismic 3% Altamont 135-145 well 10% 13% completions Drilling & 95-105 well Wolfcamp completions 35% Eagle…
  16. Howard Weil Energy Conference – EP Energy Corp – slide 16
    Exciting 2014 Growth Outlook Programs well positioned for growth Continued production 40 percent increase in oil volumes growth1 15 percent increase in total equivalent production 1.73 billion drilling and completion capital 87…
  17. Howard Weil Energy Conference – EP Energy Corp – slide 17
    Howard Weil Energy Conference Brent Smolik Chairman, President and Chief Executive Officer EP Energy Corporation March 26, 2014
  18. Howard Weil Energy Conference – EP Energy Corp – slide 18
    Non-GAAP Disclosures Disclosure of Non-GAAP Financial Measures The Securities and Exchange Commissions Regulation G applies to any public disclosure or release of material information that includes a non-GAAP financial measure. In the…
  19. Howard Weil Energy Conference – EP Energy Corp – slide 19
    PV-10 Reconciliation PV10 is considered a nonGAAP measure derived from the standardized measure of discounted future net cash flows of our oil and natural gas properties, which is the most directly comparable GAAP financial measure. Our…
  20. Howard Weil Energy Conference – EP Energy Corp – slide 20
    2014 Outlook Summary Capital program ( billion) Drilling and Completion 1.73 Facilities, lease and seismic 0.20 G&A, interest and other 0.07 Total 2.00 Total production (MBoe/d) 94.5 102.5 Oil production (MBbls/d) 50 - 54 Average…
  21. Howard Weil Energy Conference – EP Energy Corp – slide 21
    Outstanding Execution and Cost Reduction Gross Well Cost Total Well Cost per Foot1 Rig Days Stimulation (MM) (/ft.) (Spud to Rig Release) (Stages per day) 8.7 703 15 Eagle Ford 9.9 14 6.5 8.3 569 7.4 498 12 4.7 6.3 419 8…
  22. Howard Weil Energy Conference – EP Energy Corp – slide 22
    Type Well Economics Eagle Ford Wolfcamp Altamont Haynesville Central North Long Short Vertical 1 Horizontal Holly Non-Holly Lateral Length (ft) 5,600 5,600 7,500 4,500 NA 3,960 4,500 4,500 IP30 (Boe/d) 692 223 373 253 525 613 1,980…
  23. Howard Weil Energy Conference – EP Energy Corp – slide 23
    Wolfcamp: A/B/C Consistency Wolfcamp A, B and C all EPE acreage present on EPE acreage 1,000 feet of stacked pay in total for A/B/C Consistent thickness across acreage High organic content High oil in place Cline 25
  24. Howard Weil Energy Conference – EP Energy Corp – slide 24
    Haynesville Premier Shale Gas Resource Haynesville: Premier Shale Gas Resource Peak Month 37,000 net acres in core of Gas (Mcf/d) De Soto Parish in NE EPE acreage 10,000+ Louisiana 7,500 to 9,999 5,000 to 7,499 Acreage 100% HBP…
  25. Howard Weil Energy Conference – EP Energy Corp – slide 25
    Dynamic Hedge Program Excellent Hedges Oil Hedging Summary1 Natural Gas Hedging Summary 24 97.79 80 91.19 20 90.47 4.02 4.25 4.20 60 16 Bcf MMBbls 12 40 8 20 4 0 0 2014 2015 2016 2014 2015 2016 Hedged Volumes…

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