IPAA Oil & Gas Investment Symposium Tuesday, April 17, 2012 10:00 a.m.
Overview of Operations Tulsa based company founded in 1963 with long history of operations in the Mid-Continent Ticker: UNT / NYSE Market Cap: 2.0 billion(1) Enterprise Value: 2.3 billion(1) Proved Reserves: 116 MMBoe…
Summary of Business Strengths Integrated Integrated approach to business allows Unit to balance its capital Approach Enhances deployment through the various stages of the energy cycle Stability and Vertical integration offers key…
Core Upstream Producing Areas 3% Bakken 2011 reserves of 116 MMBoe were 64% natural gas and 81% proved developed Reserve life of approximately 10 years Beginning in late 2008, implemented 8% strategy of increasing focus on…
Track Record of Reserve Growth Proved Reserves (MMBoe) 120 116 104 Stable and consistent economic growth of oil 100 2002 2011 CAGR: 14% 95 96 and natural gas reserves of at least 150% of 86 79 each years production 80 69 60 58…
Increasing Liquids Focus Annual Production Mix 2009 2010 2011 2012E In the current commodity price environment, Unit continues to Liquids Liquids allocate capital towards higher 27% 31% Liquids Liquids Gas Gas 39% 41% Gas Gas…
Granite Wash Play 2011 Results First sales on 16 operated Granite Wash horizontal wells Average 30-day IP = 6.8 MMcfe/day Average reserves: 4.6 Bcfe (50% oil & liquids) Current CWC: 5.5 MM (4,000 lateral, 11 stage frac)…
Marmaton Oil Play 2011 Results First sales on 34 operated Marmaton horizontal wells Average 30-day IP = 308 Boe/day Average reserves: 130 MBoe (92% oil & liquids) Current CWC: 2.7 MM (4,000 lateral, 16 stage frac)…
Wilcox Liquids Play 2003 - 2011 Completed 109 wells at 72% success rate 2011 Results Completed 17 wells at 59% success rate Average 30-day IP rate = 248 Boe/day Average reserves: 230 MBoe (50% oil & liquids) Average…
Bakken Shale 2011 Results First sales 17 wells Average 30-day IP rate = 1,098 Boe/day Average reserves: 662 MBoe 86% oil 2012 Projected 2 third party rigs drilling = 20 non-op horizontal wells Average CWC: 11.0 MM…
2012 Upstream Capital Program 385 million drilling capital budget allocated principally to the liquids-rich Granite Wash, Marmaton, and Wilcox plays Approximately 212 million allocated to Granite Wash, Oklahoma Marmaton oil play, and…
Significant Drilling Presence in Attractive Producing Regions 15 127 rig fleet Fleet average 1,200 HP rating; 16,724 ft depth capacity 65% utilization rate for Q4 2011 96% of 46 1,200-1,700 HP rigs under 18 Casper contract…
Average Number of Rigs Utilized 100 75 50 25 0 2007 2008 2009 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011
Diverse and Versatile Rig Fleet 400-700 h.p. 750-1,000 h.p. 1,200-1,700 h.p. 2,000 h.p. 2,500 h.p. 0 20% Growing demand from increased 40% Utilization shallow 39 of 46 Percentage horizontal drilling working (61% as of…
Average Dayrates and Margins(1) 20,000 15,000 Margins / DayRates () 10,000 5,000 0 2007 2008 2009 2010 2011 Margins Day Rates Seven Consecutive Quarters of Improving Day Rates and Margins (1) Margins are…
Overview of Drilling Fleet Contracted Rig Commodity Mix Geographical Location Dry Gas Arkoma 4% 4% Rockies/ Bakken 24% Anadarko Liquids Basin E. TX, LA 58% Rich GC, S. TX 96% 14% Rig Type HP Rating 2,000 5% 2,500…
Balance Sheet Summary 12/31/11 12/31/10 (In Millions) Working Capital 15.7 41.1 Total Assets 3,256.7 2,669.2 Long-Term Debt Senior Subordinated Notes 250.0 --- Bank Facility 50.0 163.0 Total Long-Term Debt 300.0 163.0…
Debt Structure (1) Senior Subordinated Notes 250 million, 6.625% First-time issuer Issued in May 2011 10-year, NC5 Unsecured Bank Facility Borrowing Base 600 million Elected Commitment 250 million Outstanding 50 million…
Adjusted Earnings per Share(1) 7.00 6.00 5.00 4.00 3.00 2.00 1.00 0.00 2007 2008 2009 2010 2011 (1) See Adjusted EPS reconciliation to EPS.
Hedges Target 5070% of current year projected oil and natural gas production Crude oil 77% in 2012 Natural gas 40% in 2012 Primarily utilize swaps and collars Current hedge portfolio consists of swaps & costless collars Natural…
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