Bank of America Merrill Lynch Leveraged Finance Conference May 13-14, 2013
Company Overview Snapshot Large, Diverse E&P Portfolio with Significant Upside Potential Headquarters: Tulsa, OK Rockies (oil, liquids & gas plays) Total net acres: 2.74 million (1) Net acreage: 1,180,000(1) Targets: Ft. Union,…
Company Highlights Significant operational scale in core areas Rockies, Mid-Continent and East Texas Extensive current drilling inventory of 4,594 identified locations provides visibility to future growth Large, Diversified…
The Path to Future Growth 2012 2013 2014+ Enhanced rigor applied New leadership Focus on returns, to capital allocation Operational excellence growth and portfolio return based approach optimization Focusing on core areas Cost…
Extensive Drilling Inventory Emerging Oil and Liquids Opportunities Net Acreage by Core Area (000s) Targeted Play Area Commentary Largely de-risked, planning full phase Shannon Powder River Other ETX development and infrastructure…
Returns Focused Development Approach Development Well Economics Hogshooter Cotton Valley Ft. Union Bakken Sussex Shannon Upper GW Marmaton /Cottage Grove B & C Sands EURs 1,357 425 346 353 735 357 1,218 720 (MBOE) % Liquids…
Liquids-Focused Capital Budget Allocating over 90% of 2013 capital budget to oil / liquids-focused drilling projects Plan to drill 150 gross operated wells in 2013 Budget for 10-13 rigs operating in our core areas Rocky Mountains,…
Rocky Mountain Operations Overview Asset Map Focus on oil and liquids rich properties in four major producing basins: Powder River Basin: Stacked oil plays targeting the oil zones: Shannon, Sussex, Muddy, and Frontier Active Rigs…
Powder River Basin Core Position with Multiple Oil Targets Powder River Basin Highlights Asset Map by Field Currently, Samson has 275,000 acres across the region and plans to operate two horizontal rigs this year North Tree DF…
Powder River Basin Emerging Basin with Multiple Stacked Oil Targets Recent Activity Multiple Zones of Pay Sussex: Activity in the Sussex has increased in Stratigraphic Column RKI is drilling horizontal Teapot recent months with Bill…
Green River Basin Ft. Union Liquids Rich Gas Development Ft. Union Highlights Asset Map Total acreage position of 37,500 acres between Barricade and Endurance Barricade 14-1H units First Sales 1/2012 IP Rate 14.4 MMcfd &…
Bakken Ambrose Developing Three Forks and Middle Bakken Bakken Highlights Asset Map: Ambrose Focus Area Ambrose Area: 75,000 acres Currently operating two rigs Plan to drill 40 gross operated wells in 2013 Continued focus on…
Mid-Continent Operations Overview Asset Map Extensive acreage position with 4,153 gross producing wells from 25+ established productive intervals across the Anadarko, Arkoma and Ardmore basins Current focus areas include:…
Anadarko Shelf Team Upper Granite Wash, Hogshooter and Cottage Grove Oil and Liquid Rich Gas Plays Overview Asset Map Approximately 70,000 net acres in Active Rigs Roberts, Hemphill, and Wheeler Samson Rigs Counties 90% of the…
East Texas Operations Overview Asset Map E TX / NW LA Liquids-rich and dry gas producing properties in East Texas and North Louisiana with focus on Liquids-rich gas drilling Cotton Valley: Liquids-rich horizontal play encouraging…
East Texas Cotton Valley Liquids-rich Stacked Lateral Development Cotton Valley Highlights Focus Area - Southeast Carthage Field Plan to operate one rig throughout 2013, adding a second rig in May 2013 Plan to drill 20 CV Horizontal…
Focused on Returns Across Portfolio Cost Reduction Initiatives Focused on LOE and Identified D&C Components Over 90 identified Lease Field driven, savings opportunities Early Results: Operating comprehensive Examples: SWD Hauling…
Financial Strategy Committed to a Strong and Stable Capitalization Profile Target long-term leverage of 3.5x or below while maintaining financial flexibility to execute on capital plan objectives Focus on maintaining solid liquidity…
Financial Position Capitalization (1) Debt Maturity Profile and Liquidity (mm) (as of 9/30/2012) ( in millions) Capitalization 9/30/2012 % of Cap 2020 2,250 Reserved Based Credit Facility 365 4.9% 2019 Second Lien Term Loan 1,000…
Hedge To Protect Cash Flow As of April 30, 2013 Gas Swaps Oil Swaps NGL Swaps Swap % of % of % of Year MMBtu/d Year Bbls/d Swap Price Year Bbls/d Swap Price Price Forecast Forecast Forecast 2013 336,500 3.75 82% 2013 17,000…
Reserves Bridge - PV10 1.2 billion of incremental value in current natural gas price environment Total Proved Reserves: 6/30/2012 vs. 12/31/2012 PV10 by Category ( in millions) 4,500 3,954 PUD 4,000 3,907 31% (241) 210…
Key Takeaways Execution across the Company is the focus for 2013 and beyond Transition the production profile and asset base to a more balanced mix of oil / liquids and natural gas Realize value of Rockies assets by delineating…
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