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Q2 2010 Earnings Call – EP Energy Corp

EP Energy Corp · Aug 4, 2010 · 21 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. Q2 2010 Earnings Call – EP Energy Corp – slide 1
    INTERSTATE PIPELINES EXPLORATION & PRODUCTION Second Quarter 2010 Financial & Operational Update August 4, 2010
  2. Q2 2010 Earnings Call – EP Energy Corp – slide 2
    Building Value Through Execution Completing projects on-time/on-budget Ruby under construction Continued Marcellus-area expansions Production, cash costs on or ahead of plan Disciplined, returns-focused capital program Excellent…
  3. Q2 2010 Earnings Call – EP Energy Corp – slide 3
    Financial Results
  4. Q2 2010 Earnings Call – EP Energy Corp – slide 4
    2010 Second Quarter Financial Results Millions, Except EPS Adjusted Adjusted Adjusted Diluted EPS EBIT EBITDA 780 747 6 3 0.25 0.22 550 301 538 315 2 173 224 473 429 363 327 (1) 2010 2009 2010 2009 2010 2009 Pipelines…
  5. Q2 2010 Earnings Call – EP Energy Corp – slide 5
    2010 Year-to-Date Operating Cash Flow & Capital Investment Millions Cash Flow from Capital Operations Expenditures1 1,594 1,173 52 1,363 986 641 41 604 901 718 2010 2009 2010 2009 Pipelines E&P Other 2.7 billion total…
  6. Q2 2010 Earnings Call – EP Energy Corp – slide 6
    2010 & 2011 Hedge Positions Natural Gas (MMBtu) Oil (Bbl) 2010 2011 2010 2011 Avg. Ceiling 6.27 8.35 82.01 95.56 Avg. Floor 6.12 6.00 76.32 80.00 Expected Production 75%1 65% 90%1 40% with floors Excellent hedges through…
  7. Q2 2010 Earnings Call – EP Energy Corp – slide 7
    2010 Financing Plan 2010 financing goal was 2.5 billion 2.7 billion raised so far Ruby project financing, two MLP drops, asset sale Well along with 2011 funding MLP drop down strategy will continue Very successful financial…
  8. Q2 2010 Earnings Call – EP Energy Corp – slide 8
    Pipeline Group
  9. Q2 2010 Earnings Call – EP Energy Corp – slide 9
    Pipeline Highlights 11% increase in Adjusted EBIT from 2Q09 Construction underway on several growth projects Ruby WIC System Expansion CIG Raton 2010 TGP 300 Line Third Marcellus expansion added to backlog 10
  10. Q2 2010 Earnings Call – EP Energy Corp – slide 10
    Throughput by Region Year to date: 2010 vs. 2009 Throughput Ups Downs TGP 2% Marcellus Long haul SNG 7% Weather; industrial demand EPNG -16% California / Arizona Rockies production CIG -9% (now recovering) 5% overall…
  11. Q2 2010 Earnings Call – EP Energy Corp – slide 11
    Ruby Construction Underway 8 spreads, 4 contractors Up to 5,000 workers at peak 95% of right-of-way acquired Compression equipment fabricated Focused on delivering project on-time/on-budget 12
  12. Q2 2010 Earnings Call – EP Energy Corp – slide 12
    Marcellus Expansions Northeast Supply Diversification Up to 250 MMcf/d capacity Fully subscribed / 15 years ME In-service: 2012 TGP NE Supply VT Capex < 100 MM Diversification NH TGP 300 Line Niagara Construction underway NY…
  13. Q2 2010 Earnings Call – EP Energy Corp – slide 13
    Executing on Backlog Projects In Capex Service Project ( Billion) Project Scope Current 1H Completed Elba III/Elba Express 0.9 Terminal/Greenfield 2010 on-time/on-budget WIC System Expansion 0.1 Compression 2H Under construction…
  14. Q2 2010 Earnings Call – EP Energy Corp – slide 14
    Exploration & Production
  15. Q2 2010 Earnings Call – EP Energy Corp – slide 15
    E&P Highlights Strong second quarter production Cash costs remain low Currently operating 8 rigs in core programs 4 Haynesville, 2 Eagle Ford, 2 Altamont All programs performing very well Secured long-term service contracts for…
  16. Q2 2010 Earnings Call – EP Energy Corp – slide 16
    Strong 2Q Production Higher volumes driven by Excellent performance YTD Haynesville, Brazil 8-10 rigs in second half of year MMcfe/d MMcfe/d 850 788 777 41 9 800 206 280 750 160 162 700 381 326 650 600 2Q 2010 2Q 2009 1Q…
  17. Q2 2010 Earnings Call – EP Energy Corp – slide 17
    Continued Haynesville Shale Production Growth 4-rig program MMcfe/d (net) 127 13 wells waiting to be completed Expect continued growth in 67 second half New record drilling time 22 days 22 EP wells continue to be 30%+ more…
  18. Q2 2010 Earnings Call – EP Energy Corp – slide 18
    Excellent Progress on Eagle Ford Program MAVERICK ZAVALA FRIO ATASCOSA Position up to Liquids Rich 170,000 net acres Area LA SALLE MC MULLEN - 105,000 net acres in DIMMIT liquids rich area Recent wells show higher than…
  19. Q2 2010 Earnings Call – EP Energy Corp – slide 19
    Altamont Program Update Net Production (BOE/d) 8,000 5.0 Production now consistently 7,000 4.5 above 10,000 BOE/d (gross) 6,000 4.0 Continuous improvement: 3.5 Drilling time 5,000 3.0 4,000 2.5 Well cost 3,000 2.0 Unit LOE 2,000 1.5…
  20. Q2 2010 Earnings Call – EP Energy Corp – slide 20
    Summary Great first half; strong momentum in second half Execution focus continues PipelinesDeliver projects on-time/on-budget E&PManage for returns; living within our means Finance2010 goals achieved; progressing on 2011 needs…
  21. Q2 2010 Earnings Call – EP Energy Corp – slide 21
    INTERSTATE PIPELINES EXPLORATION & PRODUCTION Second Quarter 2010 Financial & Operational Update August 4, 2010

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