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IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp

EP Energy Corp · Sep 27, 2011 · 23 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. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 1
    www.elpaso.com NYSE: EP John Jensen Sr. Vice President, Operations El Paso Exploration & Production Company September 27, 2011 D E P E N D A B L E N A T U R A L G A S
  2. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 2
    Strategy is consistent and successful Very good execution in all phases Excellent future drilling inventory Large, low-risk, oily and profitable Supportive organizational culture and structure in place Delivering value and sustainable…
  3. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 3
    EXECUTION Strategy Asset portfolio Organizational capability 4
  4. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 4
    Build and apply competencies Add assets with inventory Sharpen execution skills in assets with repeatable that fit our competencies to improve capital and programs and significant and divest assets expense efficiency and project…
  5. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 5
    Cairo EGYPT Rio de Janeiro 6 BRAZIL
  6. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 6
    Net Risked Resource 8.0 Tcfe 0.2 30% CAGR 4.3 3.7 Tcfe 0.8 0.5 2.2 1.5 0.9 1.3 2007 YE 2010 YE PUD Conventional Lower Risk Unconventional Conventional Higher Risk Haynesville, Eagle Ford & Wolfcamp have driven significant…
  7. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 7
    Oil is 48% of future drilling inventory But 2/3 of future value Oil volumes growing 35%45% in 2011 Oil expected to be 45% of 2012 revenues Tremendous growth in inventory plus shift in capital 8
  8. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 8
    CORE DRILLING PROGRAMS LOCATIONS1 Haynesville 415 Eagle Ford 1,145 ALTAMONT Wolfcamp 860 Altamont 840 Total 3,260 WOLFCAMP HAYNESVILLE Oil Resources EAGLE FORD (Northern/Central) Gas Resources EAGLE FORD (Southern) 10…
  9. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 9
    Rapid production growth Top- or top-quartile program by any measure Holly area economic at sub 4 gas price Wells drilled: 95 Wells producing: 83 Continue to drive efficiencies Wells in backlog: 12 45 year remaining inventory…
  10. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 10
    CUMULATIVE SIX-MONTH PRODUCTION1 1,600 Higher productivity a function of: 1,400 Excellent acreage position Well design optimization 1,200 MMcf Lateral length 1,000 Number of stages Pumping rate 800 Total stage volumes 600…
  11. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 11
    Oil Oil Natural Natural Gas Gas Large oil inventory 800 future locations 125 MMBoe resource1 Substantial production growth potential Improved well productivity Continuous operational Applying new technologies improvement to…
  12. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 12
    BOED (Net) 10,000 9,000 Oil Gas 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 2005 2006 2007 2008 2009 2010 2011 Six Mo. Steady growing oil production 13
  13. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 13
    Wells drilled: 52 Wells completed: 41 Central area remains TX Wells on-line: 32 focus of Eagle Ford program 75,000 net acre position delineated 3 rigs running Infrastructure build on track On track for EP Leasehold EP…
  14. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 14
    Gross Volumes (BOED) 20,000 Sales Volumes Shut-in Waiting on Infrastructure 16,000 12,000 8,000 4,000 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2010 2010 2010 2010 2011 2011 2011E 2011E Current productive capacity 8,200 Bbl/d and 23…
  15. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 15
    MIDLAND COKE GLASSCOCK STERLING TOM Very good initial results UPTON TX GREEN Delineating acreage REAGAN 800 locationsUpper IRION Wolfcamp only Current leasehold of 138,000 acreages El Paso acreage Wolfcamp/Wolfberry PECOS…
  16. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 16
    REAGAN IRION PARAMETER MODEL RESULTS Depth Ft. 5,8007,000 5,8807,930 Thickness Ft. 400850 9761,080 Net Pay Ft. 200425 544680 Porosity % 7.015.0 9.412.0 CROCKETT Organic content 4.015.0 4.08.2 17
  17. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 17
    8-1 V 8-7-1H 8-12-2H REAGAN 8-12-1H 8-12-3H 11-18-1H IRION 43-17-1H 43-19-1H 43-22-1H CROCKETT TX Currently Drilling 47-18-1H 38-29-1H Wells Drilled 39-11-1H 39-7-1H +7000' Laterals 2000' 4500' Laterals Vertical Well…
  18. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 18
    COMPLETED WELLSIP 24 HR Gas Oil Equivalent IP 24 per Well Lateral Length No. of Stages (Mcf/d) (BOPD) (BOEPD) Stage LONG LATERALS MODEL 7,0008,000 2427 450530 500585 575675 24 LONG UL 43 19-1H 7,100 24 500 575 660 28…
  19. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 19
    RUSK DE SOTO WINN 140,000 net acre position CHEROKEE SHELBY NATCHITOCHES Early, low-cost entry into NACOGDOCHES TX LA GRANT repeatable program SABINE SAN AUGUS- Leverages South Texas expertise HOUSTON TINE ANGELINA SABINE 3D…
  20. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 20
    100% success rate 8 wells completed to date Avg. IP 30 (6 wells): 325 Bbl/d and 2.5 MMcf/d Increased program to 2 rigs Additional 3-D in progress More details Nov. 8 EP Energy Investor & Analyst meeting in New York 21
  21. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 21
    Natural Gas Production Hedges Volume % of U.S. Gas EP Avg. Hedge Price1 Current Market Year (Bcf) Production (/MMBtu) Prices (NYMEX) 2011 96 80% 5.89 3.85 2012 105 40% 6.01 4.31 Oil Production Hedges Volume % of Total Oil EP Avg.…
  22. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 22
    Plan tax-free spinoff of E&P company Will issue 2 B2.25 B of debt Further flexibility with 1 B credit facility Management team and board in place Preparing transition arrangements On track to separate by year end 23
  23. IPAAs 9th Annual Oil Gas Investment Symposium – EP Energy Corp – slide 23
    Implementing successful strategy Drilling inventory is large, low-risk, oily and profitable Supportive organizational culture and structure is in place Delivering value and sustainable growth Will compete with industrys best 24

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