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JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc.

Clayton Williams Energy Inc. · Oct 6, 2011 · 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. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 1
    CLAYTON WILLIAMS ENERGY, INC. Johnson Rice Energy Conference October 6, 2011 1
  2. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 2
    Experienced Management Team Clayton W. Williams, Jr. Ron D. Gasser President & CEO Engineering Manager 54 years with Clayton Williams Energy 9 years with Clayton Williams Energy Mel G. Riggs Sam Lyssy Executive Vice President &…
  3. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 3
    Company Overview CWEI/NASDAQ Oil focused strategy Regionally focused on Permian Basin and Austin Chalk areas Substantial net acreage position in Permian Basin and Austin Chalk Own and operate 14 drilling rigs Experienced team…
  4. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 4
    Key Company Developments Clayton Williams legacy assets from the Giddings area continue to play prominent role in CWEI success Acquired significant position in Permian Basin through Southwest Royalties, Inc. in 2004 Acquired…
  5. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 5
    CWEI Core Resources Significant holdings in prime oil-producing regions Permian Basin Giddings Area 2Q 2011 Avg Daily Net 2Q 2011 Avg Daily Net Production 8,244 BOE Production 4,369 BOE 2010 Proved Reserves Permian Basin 2010…
  6. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 6
    Proved Reserves (SEC Case) at 12/31/2010 Reserve replacement of 425% Trend is towards higher concentration in oil By Location Proved Reserves (MMBOE) 51.1 100% 4% 18% 15% 22% 38.1 80% 23% 26% 33.6 60% 40% 59% 20% 59%…
  7. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 7
    Exploration and Development Expenditures Actual for 2010 Planned for 2011 292.1 million 385.0 million Giddings Area, 75.2 Giddings Area, 55.2 S. Louisiana, Permian 8.7 Basin, 318.4 S. Louisiana, Permian Other, 8.6 6.8…
  8. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 8
    Average Daily Production (BOE) 12,000 11,150 10,911 10,538 10,325 10,047 10,000 8,507 8,000 7,283 6,000 Gas 4,909 Oil 3,913 4,141 4,000 3,750 3,583 2,000 - 2009 2010 1Q 2011 2Q 2011 3Q 2011E 4Q 2011E 9
  9. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 9
    Summary of Hedges Swaps: Oil Gas Bbls Price MMBtu (a) Price Production Period: 3rd Quarter 2011.. 547,000 83.78 1,560,000 7.07 4th Quarter 2011.. 729,000 87.56 1,500,000 7.07 2012. 2,649,000 95.75 - - 2013. 1,189,000 99.92 - -…
  10. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 10
    Capitalization and Liquidity As Adjusted for Retirement Historical of 2013 Senior ( millions) 6/30/2011 Notes Cash & Equivalents 18.1 18.1 BB Revolver due 2015 17.0 98.8 Total Secured Debt 17.0 98.8 7 3/4% Senior Notes due 2013…
  11. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 11
    Operations Overview 12
  12. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 12
    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…
  13. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 13
    Permian Basin - Oil Highlights Clayton Williams, Jr. has roots in West Texas Significant success in 70s & 80s in Coyanosa, Vermejo, Rhoda Walker & Mi Vida fields Management has vast experience in both upstream & downstream…
  14. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 14
    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 Amacker…
  15. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 15
    Permian Basin - Oil Andrews County Wolfberry Formation: Wolfcamp/Spraberry Well Economics: Payout: 2.7 years; ROR: 33% (based on 90 oil and 4.50 gas) Gross Reserves: 163 MBOE AFE Costs: 2.4 MM 60% to 100% Working Interest Avg.…
  16. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 16
    Permian Basin - Oil Delaware Basin Oil Play Acreage acquired through leasing and Farm-In with CHK in the emerging Avalon Shale, Wolfcamp and Bone Springs plays CWEI Net acreage leased: Reeves County 18,000 Loving & Ward 3,000…
  17. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 17
    Permian Basin - Oil Delaware Basin Oil Play Current Program: Vertical wells comingling 3rd Bone Springs and Wolfcamp Current Location Inventory: Over 400 potential locations with 160 acre spacing Multiple Horizontal…
  18. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 18
    Permian Basin - Oil Future Exploitation Opportunities Flying M Field Lea County, NM East & South CWEI controls operations Huntley Fields Garza County, TX Yates, Queen, Grayburg & San Andres Formations Cover approximately 21,000…
  19. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 19
    Giddings Area - Oil Highlights Exploitation success; drilling vertical wells in 70s & horizontal wells in the 90s Pioneer and leader in horizontal drilling; more than 325 gross horizontal wells to date in Austin Chalk Proven…
  20. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 20
    Giddings Area - Oil Water Frac Program Description: Secondary and tertiary water fracs available to add production and reserves to existing wells Economics: Payout: 4 months, ROR: 100% (based on 90 oil and 4.50 gas) Gross…
  21. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 21
    Giddings Area - Oil Eagle Ford Shale Current Program: Primarily oil Smalley-Robinson Unit 1 Horizontal wells 100% working interest 4 Wells Drilled & Producing in Burleson & Lee Counties Loebau Currently drilling Hosek 1 in…
  22. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 22
    Giddings Area - Gas Deep Bossier Trend Update: Conoco-Phillips Encana/Leor Discovered Tall City field in 2001 Savell Field Amoruso Field Big Bill Simpson No. 1 3 wells drilled (non-commercial) CWEI Hamill Foundation No. 1…
  23. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 23
    Key Takeaways Focused on growing oil production and reserves Significant acreage position in our core areas Major acreage position in emerging Delaware Basin oil play Large development drilling inventory in Permian Basin…
  24. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 24
    Appendix 25
  25. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 25
    Financial Guidance Year Ending December 31, 2011 Actual Actual Estimated Estimated First Quarter Second Quarter Third Quarter Fourth Quarter (Dollars in thousands, except per unit data) Average Daily Production: Oil (Bbls)…
  26. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 26
    Historical Production & Operating Metrics Year ended December 31, 2008 2009 2010 Production: Oil and NGL (MBbls) 3,134 3,105 3,667 Natural Gas (MMcf) 18,553 15,949 10,750 Total Production (MBoe) 6,226 5,763 5,459 Operating…
  27. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 27
    Historical Financial Summary Year ended December 31, ( thousands, except per unit statistics) 2008 2009 2010 Average Realized Prices: Oil (/Bbl) 97.35 57.37 76.44 Gas (/Mcf) 9.02 4.35 5.17 NGL (/Bbl) 54.45 30.83 42.47 Price After…
  28. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 28
    EBITDAX Reconciliation to Net Income Year ended December 31, ( thousands) 2008 2009 2010 Net income (loss) 141,242 (115,960) 36,938 Interest expense 24,994 23,758 24,402 Income tax expense (benefit) 77,327 (64,096) 20,634…
  29. JOHNSON RICE ENERGY CONFERENCE – Clayton Williams Energy Inc. – slide 29
    CLAYTON WILLIAMS ENERGY, INC. 30

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