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MARCH 2015 INVESTOR UPDATE – EP Energy Corp

EP Energy Corp · Mar 23, 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. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 1
    Investor Update March 2015
  2. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 2
    EP Energy EAGLE FORD SHALE WOLFCAMP SHALE Oil-focused growth company Net Acres: 180,000 Net Acres: 2014 Net Daily Production (MBoe/d): 82,000 50.9 2014 Net Daily Production (MBoe/d): 15.3 with four core asset areas Gross Drilling…
  3. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 3
    Investment Thesis Large Portfolio Strategic position in leading U.S. resource plays of High Quality Growing reserve base E&P Assets Significant drilling inventory of low-cost plays Large contiguous acreage positions Efficient…
  4. MARCH 2015 INVESTOR UPDATE – 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 8.8 8.3 498 489 14 6.5 6.9 7.4 7.2 12 10 8 4.7 405 6.0 2012 2013…
  5. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 5
    Managing Efficient Operations /Boe Average LOE (1Q13 4Q14) 8.23 7.86 7.49 7.63 7.64 6.23 6.03 5.63 5.44 5.19 3.82 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. MARCH 2015 INVESTOR UPDATE – 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 DVN OAS NBL SM CHK GPOR EOG XEC AR TLM EQT NFX…
  7. MARCH 2015 INVESTOR UPDATE – 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. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 8
    Core Asset Overview Eagle Ford Wolfcamp Altamont Haynesville High-quality concentrated asset portfolio 9
  9. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 9
    Returns Focused Investment Financial discipline balance cash Oil & Gas Capital flows and capital Drive out costs expecting Wolfcamp reductions in 2015; 15% Altamont 11% 15% capital costs Eagle Ford Haynesville 10% cash costs…
  10. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 10
    Eagle Ford: Franchise Oil Program 4Q Highlights Highest-return program with significant growth Five rigs and three stimulation crews 43 wells completed Improved performance Drilling efficiencies and execution Completion…
  11. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 11
    Eagle Ford Rapidly Improving Rates and EURs Eagle Ford: Continuous Improvement IP 30 (BOEPD) 1,200 1,000 972 926 IP 30 Production (BOEPD) 885 800 691 600 400 200 - 2013 2014 2014 (89 Wells at Current TC Current…
  12. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 12
    Eagle Ford: 40-Acre Infill Pilot 40% Increase In Recoverable Reserves Per…
  13. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 13
    Wolfcamp: Rapidly Improving Program 4Q Highlights Largest company resource base rapidly improving Four rigs and two stimulation crews 21 wells completed Technical advancements improved recent results Successfully completed initial…
  14. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 14
    Wolfcamp Block 43: Completion Optimization Results 40 35 30 Cumulative Production, MBO 25 20 15 43-Block 10 5 0 0 20 40 60 80 100 120 140 160 Time, Days 43 Blk Non-Optimized (22 wells) 43 Blk Optimized (9…
  15. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 15
    Wolfcamp: Continued Performance Improvement 600 Wolfcamp B&C IP 30 Results (BOPD) 400 Type Curve IP 30 Oil Production, BOPD (369 BOPD) 200 0 2013 Wells 2014 Wells Crockett Cty - avg. Q4'14 Crockett Cty - avg.…
  16. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 16
    Wolfcamp: Positive Wolfcamp A Pilot Results 600 Wolfcamp A IP 30 Results (BOPD) 500 400 Oil Production, BOPD Type Curve IP 30 (369 BOPD) 300 200 100 0 41-09-DH 44-11-MH 11-15-GH 11-25-AH 8-29-BH 8-24-CH…
  17. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 17
    Altamont: Steady Growth With Solid Returns Oil Production 4Q Highlights (MBbls/d) Step-change improvement in legacy asset 12.8 11.8 Three rigs and one stimulation crew 11.7 11 wells completed 9.5 9.8 8.1 8.3 8.9 Received…
  18. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 18
    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…
  19. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 19
    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…
  20. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 20
    Solid Hedge Program Provides Multi-Year Price Protection 2015 2016 Oil Fixed Price Hedges Fixed Price Swap Oil volumes (MMBbls)1 21.0 15.1 Oil and Gas Pricing Sensitivity: Average floor price (/Bbl) 91.19 85.41 Percent hedged…
  21. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 21
    Debt Summary Note 12/31/14 Interest Maturity Rating ( in millions) Rate Moodys / S&P Net debt of 4.6 billion1 2.75B RBL 852 Li bor + Ma y 2017 1.8 billion of liquidity 750M Term Loa n 496 Li bor + Ma y 2018 B+ / Ba 3 400M Term…
  22. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 22
    2015 Outlook Year/Year Change From 2014 Oil production (MBbls/d) 56 64 Up 10%1 Total production (MBoe/d) 94.5 109.5 Up 4%1 Capital program ( billion) 1.2 1.3 Down 40% Average drilling rigs Eagle Ford 34 Wolfcamp 1 Altamont 1…
  23. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 23
    Well Positioned For The Future Executing on all fronts Operations performing well and results continuing to improve Focused on further cost reductions Maintain financial discipline and flexibility Deliver strong results…
  24. MARCH 2015 INVESTOR UPDATE – EP Energy Corp – slide 24
    Investor Update March 2015

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