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Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc

Energy XXI Gulf Coast, Inc · May 7, 2015 · 19 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. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 1
    Third-Quarter 2015 Earnings Conference Call May 7, 2015 Houston, TX NASDAQ: EXXI www.energyxxi.com
  2. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 2
    Image goes here Chairman, President & CEO JOHN D. SCHILLER 3
  3. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 3
    Third-Quarter 2015 Highlights Second-Quarter Results Total Production 60,000 Boe/d (41,600 bbl/d) % Liquids 69% Adjusted EBITDA* 110.1 MM Highlights Third-quarter production volumes average a record 60,000 BOE/d LOE…
  4. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 4
    Image goes here Bruce Busmire, CFO FINANCIAL RESULTS 5
  5. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 5
    Enhanced Liquidity Net Cash Proceeds 2nd Lien Bonds 1.36 Billion Credit Facility 500 MM 124 MM available Total Liquidity Post Revolver Paydown 725 MM Borrowing base reduced by EXXI ahead of redetermination Additional…
  6. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 6
    Crude Hedge Profile 35 30 25 WTI Collar* 20 MBbl/d LLS 3-Ways* LLS Collar 15 WTI Collar 10 WTI Put 5 0 Feb-Mar15 Apr-Dec15 Cal16 Feb Mar 15 Apr Dec 15 Cal 16 Subfloor Floor Ceiling Subfloor Floor Ceiling…
  7. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 7
    Operating Unit Cost Analysis Period Fiscal Year 1st Quarter 2nd Quarter 3rd Quarter 2014 FY15 FY15 FY15 Revenue (MM) 1,231 403.2 357.8 260.2 MBO/d 30.1 41.8 41.8 41.6 MBOE/d 45.0 58.6 57.9 60.0 NGL % (of oil volumes) 8.1% 7.7%…
  8. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 8
    Adjusted EBITDA and EPS Adjusted EBITDA Adjusted EPS 93.0 Reported (6.22) Reported 5.0 Non-recurring items 5.14 Impairment write down 12.1 Asset retirement obligation (1.08) Adjusted EPS 110.1 Adjusted EBITDA Second-Quarter…
  9. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 9
    New Projections for 3Q and FY15 FY 2015 Volume Projections 3Q FY15 4Q FY15 FY 2015 Actuals Net Production (per day) Oil (Bbls) 41,600 40,000 42,000 41,000 42,000 including NGLs Boe 60,000 57,000 60,000 58,000 59,000 % Oil…
  10. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 10
    Image goes here John Schiller, Chairman, President & CEO OPERATIONS UPDATE 11
  11. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 11
    Reduced Costs = Lower Maintenance Capex Current FY 2015 Projected Estimated Maintenance Capex 640-660 MM 350-400 MM Exploration 45 P&A MM 55 MM P&A 75 MM Land, Seismic & Other Land, Seismic & 35 MM Other 50 MM Development &…
  12. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 12
    Facility Optimization Yields Higher Uplift Oil to GI Gas to GI Add compressor to flow gas cap on three shut- Water to GI in wells to increase production by 10 MMCF/d WD 30 Project completed 3Q FY15 New 6 tap on 12 oil pipeline to…
  13. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 13
    SP 78 Recompletion Program 2015 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 SP 78 SP 78 SP 78 SP 78 SP 78 SP 78 RIG SP 78 MOB SP 78 SP 78 SP 78 SP 78 SP 78 SP 78 SKID SKID Blake…
  14. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 14
    Preliminary FY 16 Rig Recompletion Inventory Well Number Est. Time (Days) South Pass 78 B-25 15 B-10 15 Nine wells identified West Delta 73 C-17 Tbg Swap 15 Main Pass Low cost, high margin opportunities Comacho A-4 ST3 23 West…
  15. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 15
    Monetization of Midstream Assets Grand Isle Station WD 30J GI 22L WD 73 ST 54G MC 268 SP 93A MC 280A Grand Isle Terminal Aerial MC 397A 16
  16. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 16
    Non-Core Divestiture Update Combined EXXI + M21K GoM Divestiture Geographically diverse across GoM Shelf EXXI EXXI Divest M21K Divestiture Highlights Bids received and negotiations underway with potential buyers…
  17. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 17
    Elements for Success in Place Expanded Board Lower Risk Capital Program Experienced Management Team Lower Cost Structure Improved Liquidity Asset Optimization 18
  18. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 18
    Image goes here Q&A 19
  19. Q3 2015 EARNINGS CALL – Energy XXI Gulf Coast, Inc – slide 19
    Contact Greg Smith Kim Pinyopusarerk Vice President, Investor Relations Investor Relations Manager Energy XXI Energy XXI 1021 Main Street, Suite 2626 1021 Main Street, Suite 2626 Houston, Texas 77002 Houston, Texas 77002 713.351.3149…

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