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MAY 2015 INVESTOR PRESENTATION – EP Energy Corp

EP Energy Corp · May 20, 2015 · 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. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 1
    May Investor Update
  2. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 2
    EP Energy EAGLE FORD SHALE WOLFCAMP SHALE Oil-focused growth company Net Acres: 1Q15 Net Daily Production (MBoe/d): 82,000 54.7 Net Acres: 1Q15 Net Daily Production (MBoe/d): 180,000 17.9 with four core asset areas Gross…
  3. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 3
    Investment Thesis Large Portfolio Strategic position in leading U.S. resource plays with growing reserve base of High Quality High return assets with breakeven costs below 45/bbl across portfolio E&P Assets Significant drilling…
  4. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 4
    Continuous Improvement Gross Well Cost1 Total Well Cost per Foot1 Rig Days Stimulation (MM) (/ft.) (Spud to Rig Release) (Stages per day) 569 Eagle Ford 14 8.3 8.3 498 489 12 6.5 6.9 7.4 10 7.2 7 4.7 6.1 381 2012 2013…
  5. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 5
    Managing Efficient Operations Average LOE (1Q13 1Q15) /Boe 8.19 7.89 8.01 7.64 7.44 6.29 5.98 5.57 5.61 5.19 3.79 Peer A EPE Peer B Peer C Peer D Peer E Peer F Peer G Peer H Peer I Peer J Note: Based on quarterly…
  6. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 6
    Delivering Strong Cash Margins 50 Cash Margin per BOE (2015E at assumed 65/Bbl WTI) 45 40 35 30 /Boe 25 20 15 10 5 0 EGN GPOR MHR RRC AR COG ECA ECR RSPP APA TLM NFX WPX…
  7. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 7
    Increased Reserves and Inventory Proved Oil & Gas Reserves (MMBoe) Proved Oil and Gas Reserves 622 18 percent increase from 2013 103 MMBoe in additions 526 66 percent in Eagle Ford 16.93 per Boe reserve replacement cost 343…
  8. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 8
    Proven Prudent Growth Story YE 2013 YE 2014 Oil Production 36.2 MBoe/d 51% 54.8 MBoe/d Total Production 81.2 MBoe/d 20% 97.7 MBoe/d Proved Reserves 526 MMBoe1 18% 622 MMBoe Drilling Locations 5,169 10% 5,673 LTM Adj.…
  9. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 9
    0 3x 6x 9x 12x 15x 18x 21x EPE EPE NFX PQ PDCE JONE NOG UNT SM Source: CapitalOne Securities WTI PVA REN CRK HK CPE WLL APA SN CRZO EXXI LPI BCEI OXY GPOR AR SGY HES OAS CXO UPL SWN WPX DNR…
  10. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 10
    Core Asset Overview Eagle Ford Wolfcamp Altamont Haynesville High-quality concentrated asset portfolio 11
  11. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 11
    2015 Capital Program Financial discipline balance cash Oil & Gas Capital flows and capital Wolfcamp Drive out costs expecting 15% Altamont reductions in 2015 11% Eagle Ford Average 6 to 7 drilling rigs 66% Haynesville 8%…
  12. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 12
    Eagle Ford: Franchise Oil Program 1Q Highlights Highest-return program with significant growth Five rigs and four stimulation crews 38 wells completed Improved performance Increased target landing zone accuracy Drilling cycle…
  13. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 13
    Eagle Ford: Completion Optimization Results 60 IP 30 (BOPD) +14% 1000 50 Cumulative Production, MBO 40 Oil Production, BOPD 800 30 909 600 786 20 706 695 10 400 FY 2014 2014 (89 wells at Current Type Curve…
  14. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 14
    Wolfcamp: Rapidly Improving Program 1Q Highlights Largest company resource base rapidly improving Two rigs and one stimulation crews 10 wells completed Technical advancements improved recent results Increased sub-surface…
  15. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 15
    Wolfcamp: Drilling Optimization Increased subsurface knowledge Improved lateral landing zone 3-D seismic identifies highest identification potential pay-zones Land in highest organic content Assist with drilling geo-steering Minimize…
  16. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 16
    Wolfcamp: Positive Rate of Change 45 Wolfcamp B&C IP 30 Results (BOPD) 600 40 35 Cumulative Production, MBO 30 +68% 400 25 Type Curve IP 30 Oil Production, BOPD (369 BOPD) 20 15 200 10 5 0 0 20 40 60 80 100…
  17. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 17
    Wolfcamp: Optimizing Development Pattern Currently developing with mini-chevrons Wells spaced 770 apart in A, B, C benches with 1,540 between wells in same landing zones Minimizes offset frac interference Alters rock stresses which…
  18. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 18
    Altamont: Steady Growth With Solid Returns Total Equivalent Volumes 1Q Highlights (MBoe/d) 17.1 Continued improvement in legacy asset 16.6 15.7 16.1 Two rigs and one stimulation crew 9 wells completed 13.4 Approved for 80-acre…
  19. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 19
    Haynesville: Resume Drilling in High Return Program Peak Month Gas (Mcf/d) EPE acreage Highlights 10,000+ 7,500 to 9,999 Premier acreage in core of the play 5,000 to 7,499 0 to 4,999 Strategic location near Gulf Coast and…
  20. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 20
    Type Well Economics Eagle Ford Wolfcamp Altamont Haynesville Long Short Vertical Holly Non Holly 5 Year Inventory (2015- 2019) Pre-Tax IRR1 52% 25% 37% 46% 2 Breakeven Pricing (/BBl or /Mcf) : At 20% Deflation 40.00 47.00* 38.98…
  21. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 21
    Solid Hedge Program Provides Multi-Year Price Protection 2015 2016 2017 Oil Fixed Price Hedges Fixed Price Swap Oil volumes (MMBbls)1 16.1 18.0 4.0 Average floor price (/Bbl) 91.16 80.29 66.11 Percent hedged based on midpoint of…
  22. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 22
    Updated 2015 Outlook Original Guidance Updated Guidance Year/Year Change From 2014 Oil production (MBbls/d) 56 64 57 63 Up 10%1 Total production (MBoe/d) 94.5 109.5 97.0 107.0 Up 4%1 Capital program ( billion) 1.2 1.3 1.2 1.25 Down…
  23. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 23
    Looking Ahead Maintain focus on cost and capital discipline Improved 2015 outlook Advantaged low-cost operator Additional improvements in well performance Ongoing completion enhancements Increased target landing zone accuracy…
  24. MAY 2015 INVESTOR PRESENTATION – EP Energy Corp – slide 24
    May Investor Update

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