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1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc

Energy XXI Gulf Coast, Inc · Nov 6, 2014 · 18 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. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 1
    First-Quarter 2015 Earnings Conference Call November 6, 2014 Houston, TX NASDAQ: EXXI AIM: EXXI www.energyxxi.com
  2. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 2
    Image goes here Chairman, President & CEO JOHN D. SCHILLER 3
  3. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 3
    Bruce Busmire, Chief Financial Officer Anadarko Petroleum Vice President, Finance and Treasurer Chief Accounting Officer Ocean Energy Vice President, Investor Relations Amoco Corporation 4
  4. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 4
    Image goes here Bruce Busmire, CFO FINANCIAL RESULTS 5
  5. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 5
    First-Quarter 2015 Highlights First-Quarter Financial Results Highlights Total Production 58,600 Boe/d First-quarter production volumes average 58,600 BOE/d % Liquids 71% Generated first-quarter adjusted Adjusted EBITDA 230.7 MM…
  6. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 6
    Operating Unit Cost Analysis Period Fiscal Year 2014 1st Quarter FY15 Revenue (MM) 1,231 403.2 MBO/d 30.1 41.8 MBOE/d 45.0 58.6 NGL % (of oil volumes) 8.1% 7.7% Total Realized / BOE 74.88 74.84 Average WTI Oil Price* 101.32…
  7. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 7
    Image goes here John Schiller, Chairman, President & CEO OPERATIONS UPDATE 8
  8. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 8
    Year 1 Savings Expected Between 60 - 85 MM Original Expectations MM Current Annualized Savings MM Year 1 Year 2 Year 1 LOE (before insurance) 5 20 LOE (before insurance) 15 Insurance 15 15 Insurance 30 G&A 7.5 15 G&A 40 Total…
  9. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 9
    Projects That Improve Base Production Project Objective Initial Production Cum Production 1Q Average 1st Qtr FY 2015 (BOE/d) (BOE) (BOE/d) 56 Wells Paraffin Cutting 819 30,930 344 17 Wells Gas Lift Changes 556 28,385 312 6 Thru-Tubing…
  10. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 10
    Right Sizing Capex to Realize More Savings Original Budget Reduced Capital Budget 875 MM 680 MM Exploration Exploration 33 40 P&A 80 P&A 78 G&A, Development Land, Other G&A, Development Drilling, 155 Land, Other Drilling,…
  11. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 11
    New Projections for 2Q and FY15 FY 2015 Volume Projections 1Q FY15 2Q FY15 FY 2015 Actuals Net Production (per day) Oil (Bbls) 41,600 41,000 45,000 42,000 46,000 including NGLs Boe 58,600 58,000 63,000 59,000 64,000 % Oil…
  12. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 12
    FY2015 Focus Areas Generate free cash flow Capital preservation Asset rationalization Improve capital efficiencies through Workovers Image Recompletes goes Reduced downtime here Lower cost structure Debt Reduction 13
  13. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 13
    Image goes here Q&A 14
  14. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 14
    Contact Greg Smith Kim Pinyopusarerk Vice President of IR Investor Relations Associate Energy XXI Energy XXI 1021 Main Street, Suite 2626 1021 Main Street, Suite 2626 Houston, Texas 77002 Houston, Texas 77002 713.351.3149 713.351.3028…
  15. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 15
    Image goes here ADDENDUM 16
  16. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 16
    No Near-Term Maturities Debt Maturity Schedule 2,000 1,800 6.875% Notes 8.25% Notes 1,600 510 9.25% Notes 7.75% Notes 1,400 7.50% Notes 3.00% Convertible Notes 1,200 400 Revolver Borrowings LCs Issued 1,000 Cash Revolver…
  17. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 17
    Crude Hedge Profile 60 Brent Swap 50 LLS Put Spread LLS Swap 40 LLS Collar Brent Collars Brent 3 Way Collars 30 Brent Put Spread WTI Put Spread 20 WTI Puts WTI 3 Way Collars Budget 10 Swap Limit Season Limit 0 Q4 2014 Q1…
  18. 1Q 2015 EARNINGS CONFERENCE CALL – Energy XXI Gulf Coast, Inc – slide 18
    EXXI Realized Pricing is Premium to WTI For Trailing Six Months Month Ended Mar 2014 Apr 2014 May 2014 Jun 2014 Jul 2014 Aug 2014 Sep 2014 Average WTI Oil Price* 102.18 102.07 102.18 105.79 103.59 96.54 93.21 Price per BBL**…

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