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Investor Presentation – Callon Petroleum Co.

Callon Petroleum Co. · Oct 1, 2014 · 24 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. Investor Presentation – Callon Petroleum Co. – slide 1
    CALLON PETROLEUM COMPANY Investor Presentation October 2014
  2. Investor Presentation – Callon Petroleum Co. – slide 2
    CALLON OVERVIEW Pro Forma Midland Basin Presence Pure-play Permian company Focused and experienced technical team Exclusively Midland Basin Experienced horizontal driller Northern Northern Acreage Acreage Horizontal evolution…
  3. Investor Presentation – Callon Petroleum Co. – slide 3
    ACQUISITION HIGHLIGHTS 3,862 net acres (62.0% WI / 46.5% NRI) 100% HBP Midland Basin: Midland (67%), Andrews (28%), Ector and Martin Counties in Assets core of Midland Basin 2Q14E net daily production: 1,465 Boe/d (68% oil) Mature…
  4. Investor Presentation – Callon Petroleum Co. – slide 4
    PRO FORMA METRICS Permian Production (Boe/d) Potential Hz Locations: 1,097(a) 325% Growth Since 1Q13 67% Total Increase 6/30/14 8,000 500 446 +74% 7,000 6,745 387 +48% 400 6,000 1,465 189 125 5,000 264 300 +91% 4,000 200…
  5. Investor Presentation – Callon Petroleum Co. – slide 5
    OPERATIONS
  6. Investor Presentation – Callon Petroleum Co. – slide 6
    EXPERIENCED HZ OPERATOR Net Daily Production (BOEPD) Midland Basin Gross Operated Hz Wells(a) Vertical Horizontal Acquisition 120 8,000 7,000 Peer CPE 100 6,000 97% CAGR 80 5,000 4,000 60 3,000 40 2,000 20 1,000 -…
  7. Investor Presentation – Callon Petroleum Co. – slide 7
    HORIZONTAL PERFORMANCE Completed 24HR IP per 1000 Well Name 24HR IP (Boe/d) Lateral Length (ft.) Lateral (Boe/d) 1 2 Kendra Annie 1483H Kendra Annie 15SH Drilled Drilled Carpe Diem East Bloxom 3 Kendra Annie 1484H Drilled MIDLAND…
  8. Investor Presentation – Callon Petroleum Co. – slide 8
    2014 WCB EUR ANALYSIS Recent Well Performance(b) 2014 Upper and Lower Wolfcamp B wells Average lateral length of 6,900 (actual production not normalized for lateral length) Initial impacts of recent completion and flowback…
  9. Investor Presentation – Callon Petroleum Co. – slide 9
    PRO FORMA MIDLAND ASSET BASE Key Highlights 2Q14E Daily Production 8,000 Over 100,000 net effective acres 28% Oil-rich reserves and production 6,000 Efficient horizontal pad development Boe/d 4,000 Horizontal Acreage…
  10. Investor Presentation – Callon Petroleum Co. – slide 10
    ACQUIRED ASSET OVERVIEW CALLON ACREAGE ACQUIRED ACREAGE DIAMONDBACK ACREAGE RSP ACREAGE Tier 2 1-2 Levels Emerging Acquisition Midland Core 3-4 Levels Derisked Tier 1 2-3 Levels Derisked ACQUISITION PRODUCTION…
  11. Investor Presentation – Callon Petroleum Co. – slide 11
    DE-RISKED ZONE ACTIVITY RSP Cross Bar Ranch 1717H 6955 IP30 867 BOEPD Wolfcamp B Henry Bohannon 24-2H (3800 - 5300) Drilled Median 30D IP: 750 BOEPD RSP Johnson Ranch 912WB Avg 30D IP: 731 BOEPD 7400 IP30 685 BOEPD Henry…
  12. Investor Presentation – Callon Petroleum Co. – slide 12
    HZ WELL (5,000) ECONOMICS Initial Type Curves Base Economics(a) 1,000 60% 738 Observed 731 Avg 30-Day IPs 541 (4688 - 5754) 50% Average Monthly Production (Boe/d) 40% IRR 100 30% 20% WCB LSPRB MSPRB D&C (MM)…
  13. Investor Presentation – Callon Petroleum Co. – slide 13
    MULTI-ZONE POTENTIAL Replace Gross Potential rig Horizontal Locations (Pro Forma June 30, 2014) Central Southern Carpe Pecan East Garrison Taylor Target Zone Diem Acres Kayleigh Acquired Bloxom Opal Draw Draw Total Clearfork --…
  14. Investor Presentation – Callon Petroleum Co. – slide 14
    EMERGING ZONES Carpe Diem/Pecan Acres Garrison Draw REAGAN MIDLAND * * *FANG Gridiron 1H: *Enduring University 09 906H: 24 HR IP 2757 Boe/d 24 HR IP 1277 Boe/d East Bloxom Taylor Draw UPTON REAGAN * * *PXD…
  15. Investor Presentation – Callon Petroleum Co. – slide 15
    FINANCIAL
  16. Investor Presentation – Callon Petroleum Co. – slide 16
    FINANCING OVERVIEW Pro Forma Capitalization(a) 430 million in long-term 1,000 capital raised in 3Q14 800 242 250MM borrowing base 600 20 Oil hedging of 4,000 Bopd MM 300 in 4Q14 and 3,000 Bopd 400 in 2015 200 282…
  17. Investor Presentation – Callon Petroleum Co. – slide 17
    STRONG CASH MARGINS Highlights Adjusted Operating Margin(a) (/BOE) Cash Interest Adj. G&A Production Taxes Total production with 84% oil content vs. 65% peer average 100 LOE Revenue 30% reduction in total operating 80…
  18. Investor Presentation – Callon Petroleum Co. – slide 18
    2014 & 2015 OUTLOOK 3rd rig to be added in 4Q14 Preliminary Operational Capital Estimates(a) 300 270 50 Acquisition to be integrated 250 Planned Completions 215 40 into three rig program 200 30 MM 150 Evaluate…
  19. Investor Presentation – Callon Petroleum Co. – slide 19
    SUMMARY
  20. Investor Presentation – Callon Petroleum Co. – slide 20
    SUMMARY High-quality Midland Basin acreage Multiple de-risked zones with additional upside Deep organizational knowledge of area Long-lived drilling inventory for sustained production growth Near-term focus on de-risked zones and…
  21. Investor Presentation – Callon Petroleum Co. – slide 21
    APPENDIX
  22. Investor Presentation – Callon Petroleum Co. – slide 22
    CURRENT HEDGED OIL VOLUMES For the Six For the Months Ending Year Ending December 31, December 31, Oil contracts: 2014 2015 Collar contracts combined with short puts (three-way collar): Volume (MBbls) 317 Price per Bbl Ceiling…
  23. Investor Presentation – Callon Petroleum Co. – slide 23
    CURRENT HEDGED GAS VOLUMES For the Six For the Months Ending Year Ending December 31, December 31, 2014 2015 Natural gas contracts: Collar contracts combined with short puts (three-way collar): Volume (BBtu) 843 Price per MMBtu…
  24. Investor Presentation – Callon Petroleum Co. – slide 24
    NON-GAAP RECONCILIATION 2Q-2014 - 1Q-2013 2Q-2013 3Q-2013 4Q-2013 1Q-2014 2Q-2014 ProForma Income (loss) available to common stockholders (800) 78 (892) 1,291 (111) 2,767 4,748 Adjustments: Net (gain) loss on derivative contracts,…

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