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TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp.

Energen Corp. · Nov 18, 2014 · 25 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. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 1
    Wolfcamp Cline Lower Spraberry Wolfberry Bone Spring Exploring & Developing the Midland and Delaware Basins New Mancos Oil Play Emerging in San Juan Basin Topeka Capital Markets Houston Bus Tour November 18, 2014
  2. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 2
    ENERGEN: PURE-PLAY E&P Domestic asset base with Permian Basin, oil & NGL focus Emerging oil play in San Juan Basin 2.4 billion BOE of 3P and Contingent Resources in Wolfcamp and Cline shales in Permian Basin Substantial drilling…
  3. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 3
    ENERGEN PROFILE NYSE:EGN SharesOutstanding(10.31.14) 73.2 MM 3P Reserves/ Contingent Resources MarketCap(11.13.14) 4.8 B at YE2013 YE2013E&PDebt; 1.7 B YE2014eDebt 1.0 B PV10Pretax(12.31.13) 4.8 B PV10Aftertax(12.31.13) 4.0 B CO…
  4. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 4
    DOUBLE-DIGIT OIL/NGL PRODUCTION GROWTH (MMBOE) (MMBOE) 10.0 9.6 2011 2012 2013 2014eMidpoint 9.1 25.9 8.4 23.3 4.2 7.7* 21.2 3.2 2.6 17.5 5.8 5.1 5.0 4.8 15.6 2.2 4.7 14.8 11.9 4.4 1.9 10.4 4.0 1.8 8.7 3.5 6.3 2.9 4.7…
  5. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 5
    3P/CONTINGENT RESOURCES = 3.3 BILLION BOE ProvedReservesbyProduct 3PReserves/ContingentResourcesbyArea (MMBOE) 343 346 348 303 54 56 63 18% 258 41 4% 44% 30 130 103 155 165 78 34% 160 150 159 135 120 Delaware 2009 2010…
  6. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 6
    2014 CAPITAL, DRILLING/DEVELOPMENT PLANS CapitalInvestment: 1.35B MidlandBasin: 835MM MidlandBasin Wolfcamp/Cline Wolfberry Facilities/Other DelawareBasin: 415MM 600MM 125MM 110MM CentralBasin: 45MM 69netwells 50netwells 68rigs…
  7. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 7
    PRODUCTION OUTLOOK 2014ProductionbyQuarter PDPDeclineRatesOverTime (MMBOE) (basedonYE13PDPreserves) 6.9 6.3 5Year 10Year 20Year 6.0 6.1 (8.0) 2.1 (9.3) (8.7) 2.0 (9.2) 2.1 2.1 (10.6) (10.7) (11.8) (13.4) 4.8 4.3 4.0…
  8. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 8
    HEDGES MINIMIZE PRICE RISK 72%of4Q14productionhedged CY14ecashcost(continuingoperations):18.75/barrel CY14enetincomebreakeven(continuingops):39.75/barrel 4Q14 CY15 Hedged Average HedgeVolumes AveragePrice* Hedge%atMidpoint…
  9. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 9
    Legacy Assets Eastern Shelf Major Acquisitions, 200912 Permian NEW MEXICO Lea Yoakum Cline Play TEXAS Midland Basin Northwest Shelf ( 87,000 net acres) Overview Eddy Wolfberry Play Borden Delaware Gaines Dawson…
  10. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 10
    MIDLAND BASIN WOLFCAMP, CLINE POTENTIAL 2,475PotentialWolfcamp/ClineLocations* Potential Wells* Net 4,400 6,700 7,500 Acres Martin Co. Glasscock Co. 8,010 Upper Spraberry 6,113 8,523 Lower Spraberry 6,619 9,328 Dean 7,525 9,550…
  11. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 11
    Scurry MIDLAND BASIN Wolfcamp Play: Blue Outline Gaines Borden Dawson Andrews Howard 2014EXPLORATORYPROGRAM Martin Mitchell Wolfcamp/Cline 16gross(15net)wellstobedrilledinCY14 Cline Play: Red Outline…
  12. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 12
    Dawson Borden JonesHolton101H SmithSN4837101H Wilbanks SN1615101H MIDLAND BASIN Martin Howard Mitchell RESULTS, 3Q14 JonesHolton201H(BBench) Peak24hourIP: 1,172boepd (94%oil) Midland Peak30dayAvg: 602boepd (85%oil)…
  13. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 13
    DELAWARE WOLFCAMP POTENTIAL TopofDelawareMtn.Group 3,115Potential 7,550 Locations* 8,450 Potential Net 9,100 Avalon Wells* Acres 9,600 10,600 1,270 106,000 1,165 102,600 11,900 Wolfcamp A 680 56,200 Wolfcamp B Wolfcamp C…
  14. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 14
    New Mexico 3rd Bone Spring Area Red Outline DELAWARE BASIN Texas Loving Winkler WOLFCAMP Winchester 57-10 1H 2014exploratoryprogram: University 28-21 1H 13gross(12net)wells Langley 2-36 1H Benton 3-12 1H…
  15. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 15
    DELAWARE BASIN WOLFCAMP RESULTS, 3Q14 Intrepid55121Hproforma Loving Winkler (CBench) Peak24hourIP:2,128boepd (46%oil) Peak30dayAvg:1,502boepd (41%oil) Completedlat.length:4,100 Winchester 57-10 1H University 28-21 1H Langley 2-36…
  16. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 16
    SAN JUAN BASIN OIL POTENTIAL MANCOSOILPLAY 90,000netacres,including15,000acquired DryGasPhase October2014 Colorado 4gross(2net)wellsin2014 New Mexico 50%nonoperated SouthcentralSJB Runningrigin2015basedonexcellentresults…
  17. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 17
    REASONS TO INVEST IN EGN PureplayE&Pcompany; Oil/NGLfocusinPermian,SanJuanbasins Substantialunrisked drillinginventoryin Wolfcamp/ClineshaleinMidlandandDelaware basins MancosoilpotentialinSanJuanBasin…
  18. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 18
    MIDLAND BASIN WOLFCAMP, CLINE POTENTIAL ByCounty Wolfcamp A Wolfcamp B Wolfcamp C Cline Net Net Net Net Locations NetAcres Locations NetAcres Locations NetAcres Locations NetAcres Glasscock 242 23,700 237 25,000 238 24,700 283 30,000…
  19. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 19
    MIDLAND BASIN WOLFCAMP RESULTS, 2013 PROGRAM Peak24HourIP Peak30dayAverage Completed Frac Well County Zone Lateral Stages Oil NGL Gas Oil NGL Gas Length Boepd Boepd (Bopd) (Bpd) (Mcfd) (Bopd) (Bpd) (Mcfd) Lavaca38101H Glasscock…
  20. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 20
    MIDLAND BASIN HORIZONTAL RESULTS, 2014 PROGRAM Peak24HourIP Peak30dayAverage Completed Frac Well County Zone Lateral Stages Oil NGL Gas Oil NGL Gas Length Boepd Boepd (Bopd) (Bpd) (Mcfd) (Bopd) (Bpd) (Mcfd) JonesHolton 101H…
  21. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 21
    DELAWARE WOLFCAMP POTENTIAL ByCounty Wolfcamp A Wolfcamp B Wolfcamp C Net NetAcres Net NetAcres Net NetAcres Locations Locations Locations Loving 138 11,400 143 11,400 136 10,800 Ward 321 26,700 284 26,000 56 4,900 Winkler 264…
  22. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 22
    DELAWARE BASIN WOLFCAMP RESULTS, 2013 PROGRAM Peak24HourIP Peak30dayAverage Completed Frac Well County Zone Lateral Stages Oil NGL Gas Oil NGL Gas Length Boepd Boepd (Bopd) (Bpd) (Mcfd) (Bopd) (Bpd) (Mcfd) University28211H…
  23. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 23
    DELAWARE BASIN WOLFCAMP RESULTS, 2014 PROGRAM Peak24HourIP Peak30dayAverage Completed Frac Well County Zone Lateral Stages Oil NGL Gas Oil NGL Gas Length Boepd Boepd (Bopd) (Bpd) (Mcfd) (Bopd) (Bpd) (Mcfd) University16171H Ward…
  24. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 24
    EXPLORATORY LOCATIONS 2014 PROGRAM (GROSS WELLS) Lower County WCA WCB WCC Cline Spraberry Ward 1 2 0 Note: 1w/7,500lat Winkler 1 0 0 Reeves 2 4 3 TOTAL DELAWARE 4 6 3 Glasscock 1 1 4 1 1 Note:1w/10,000lat Martin 4 2 0 1 2…
  25. TOPEKA CAPITAL MARKETS HOUSTON BUS TOUR – Energen Corp. – slide 25
    2014 GUIDANCE (rev. 10.30.14) Assumed pricesunhedgedvolumesfor4Q14: 4Q14 Production(MMBOE): 4.00gas85oil92NGL MidlandBasin 2.5 Assumedunhedgedbasisdifferentialsfor4Q14: DelawareBasin 1.4 CentralBasinPlatform 0.9 WTIMidWTICushing…

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