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Barclays CEO Energy-Power Conference – Athlon Energy Inc.

Athlon Energy Inc. · Sep 4, 2014 · 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. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 1
    AthlonEnergy.com Barclays Presentation NYSE: ATHL September 2014 1
  2. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 2
    Athlon Pro Forma Overview Key Highlights Midland Basin Map Ticker: ATHL Market Share Price: 46.56 Summary Diluted Share Count 99.4mm (8/29/14) Market Capitalization: 4,628mm Enterprise Value(1): 5,916mm 28 MBoe/d production…
  3. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 3
    Athlon Strategy Intense Focus on Rate of Return High-Quality Maximize EURs Assets Reduce D&C Costs The best acquisition Attention to costs and maximizing companies are the best EUR are key for low-risk prolific development…
  4. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 4
    Delivering the Goods out of the Gate 2Q14 Exceeding ExpectationsAGAIN Horizontal Program Bolting to the Front of the Pack Exceeded consensus estimated production by 1,400 BOE/d First 8 horizontal wells 90% ROR at 90 oil in aggregate…
  5. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 5
    Building on Success: YTD High-Quality Acquisitions Midland Basin Map Exposure Across Entire Northern Midland Basin Acquired 36,000 net acres concentrated in Martin, Midland, Upton, Glasscock and Andrews Counties Largely…
  6. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 6
    Low-Risk, High-Growth Oil Company 2011 2012 2013 2014 (1) 35,000 167% Growth 73% Growth 105% Growth 30,000 28 MBoe/d (June PF)(2) 25,000 22 MBoe/d Production, BOEPD 20,000 15,000 10,000 5,000 0 1Q…
  7. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 7
    Organic Growth in Proved Reserves 173 180 Replaced 10x 160 production via Drillbit 46 140 127 90 52% Replaced 14x production via Organic 120 Proved Reserves (MMBoe) Drillbit 45 100 86 1 Replaced 11x 90 80…
  8. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 8
    Full-Field Development Pattern Maximizes Recovery Reserve Potential per 960 Acres (1-1/2 Sections)(1) = 20 Acre Location Hori zonta l = 40 Acre Location Verti ca l 40s Verti ca l 20s Tota l Wol fca mp Wel l s - 24 24 12 60…
  9. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 9
    Vertical Wolfberry Economics and Inventory Midland Basin 90% ROR Sensitivity (%) Clear Fork 80% 77% Midland 70% 59% Average 60% 53% 55% Upper Spraberry 50% 43% Howard 42% 49% 40% 32% 39% 33% 39% 44% Middle Spraberry 30%…
  10. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 10
    Prolific Vertical Results Across Athlons Acreage Two discretionary vertical rigs targeting highest ROR projects Pre-IPO Top Performing Vertical Wells 24 Hr IP 30-Day IP Well Nam e County Boed Boed 1 Bigony 48 1 How ard 704 572 2…
  11. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 11
    High-Growth Horizontal Potential 6 Hz Rigs by 2Q15 4Q14 Gross Locations(1) Midland, 2Q15: TBD Martin & Other Howard Glasscock Company Total Midland Basin Clear Fork 91 91 Upper Spraberry Middle Spraberry Athlon…
  12. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 12
    Successful Horizontal Delineation Completed Successful Conclusion to Evaluation Phase Midland Basin Horizontal Activity Tubb 39 5H (Howard) 24-hr IP 2,351 Boe/d 30-day IP 1,594 Boe/d, 73% oil 6 5 Williams 17 3H (Howard) 24-hr IP…
  13. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 13
    Superior Execution & Experienced Team Result in Top-Tier Wells 3D Frac Design Model Radioactive Tracer Evaluation Log 4. 5. 1. Apply vertical expertise to target organic rich, brittle rock 2. Drill entire lateral within defined 3.…
  14. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 14
    Bolting to the Front of the Pack Wolfcamp 30-Day IP Per 1,000 of Lateral by Operator (Boe/d) West-side Wolfcamp 30-day IP rate Lateral Well County % Oil (BOE/d) Length 300 East-side Wolfcamp 1 TXL N 7-3 5H Midland 1,200 4,588 77%…
  15. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 15
    Midland Pegasus Wolfcamp Type Curve and Economics Medium Lateral (7,500 ft.) ROR Sensitivity: (EUR vs. D&C Cost) 90 WTI oil / 4 gas 90 WTI oil / 4 gas D & C Cost (MM) 8.5 EUR (MBOE) 3 stream 880 MBOE 880 1,000 1,100 1,200 1,300 MBOE…
  16. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 16
    Martin Wolfcamp Type Curve and Economics Medium Lateral (7,500 ft.) ROR Sensitivity: (EUR vs. D&C Cost) 90 WTI oil / 4 gas 90 WTI oil / 4 gas D & C Cost (MM) 8.5 EUR (MBOE) 3 stream 720 MBOE 720 800 900 1,000 1,100 MBOE 720 800 900…
  17. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 17
    Martin Spraberry Preliminary Results and Economics ROR Sensitivity: (EUR vs. D&C Cost) 90 WTI oil / 4 gas 90 WTI oil / 4 gas MBOE 675 750 800 900 1,000 MBOE 675 750 800 900 1,000 D&C (mm) D&C (mm) 6.9 65% 80% 92% 119% 149% 6.9…
  18. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 18
    Howard County Wolfcamp Type Curve and Economics Medium Lateral (7,500 ft.) ROR Sensitivity: (EUR vs. D&C Cost) 8.0 90 WTI oil / 4 gas 90 WTI oil / 4 gas D & C Cost (MM) EUR (MBOE) 3 stream 625 MBOE 625 700 800 900 1,000 MBOE 625 700…
  19. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 19
    Glasscock County Wolfcamp Type Curve and Economics Medium Lateral (7,500 ft.) ROR Sensitivity: (EUR vs. D&C Cost) 8.0 90 WTI oil / 4 gas 90 WTI oil / 4 gas D & C Cost (MM) EUR (MBOE) 3 stream 625 MBOE 625 700 800 900 1,000 MBOE 625…
  20. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 20
    Horizontal Program Evolution Drilling Additional Zones Pad Drilling Drilling new zones de-risked by Industry: Ramping fleet from 3 6 HZ rigs by 2Q15 Area ATHL Current New Zones Timing - Recently contracted two newbuilds with Martin…
  21. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 21
    Total Reserve Potential 1.4 Billion BOE and GROWING 1,600 Horizontal Upside = 4x Proved Reserves No Horizontal PUDs Booked to date 1,437 1.4 Bn 1,400 Average Gross VT EUR per Well (MBOE) Midland, Martin Howard Glasscock & Other…
  22. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 22
    Strong Balance Sheet & Increased Guidance (1) Pro Forma Capitalization Production Hedged Pro Forma ( in millions) June 30, 2014 16,000 100.00 Cash 0.0 92.71 92.52 92.31 93.69 93.69 92.35 92.35 92.12 92.12 Credit Agreement 138.6…
  23. Barclays CEO Energy-Power Conference – Athlon Energy Inc. – slide 23
    Building Future Success by Capitalizing on Historical Success Top-tier Operator with Exposure Across the Entire Northern Midland Basin 140,000 net acres across the most prolific counties in the Basin 28 MBoe/d production (June Pro…

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