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GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc.

Earthstone Energy Inc. · Jun 23, 2015 · 22 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. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 1
    Investor Presentation GHS 100 Energy Conference Chicago, IL June 23, 2015 0
  2. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 2
    Investment Highlights Strong, Well Capitalized Balance Sheet Proven Management Team Significant cash balance Operational excellence Common equity Four prior successful public entities Traditional reserve-based credit facility Repeat…
  3. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 3
    Strategic Combination on December 19, 2014 1.7 mm shares (12.6%) 9.1 mm shares (66.0%) 3.0 mm shares (21.4%) EnCap 37.8% Wells Fargo 6.1% Vlasic 4.9% Earthstone closed two transformational transactions, creating a…
  4. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 4
    Oak Valley Resources, LLC owns 66.0% of Earthstone. Oak Valleys investors include: Earthstone Management EnCap Investments L.P. Significant equity investors Leading provider of private equity to the independent E&P sector CEO has over…
  5. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 5
    Management Strong management and technical team with demonstrated ability and prior success Equity investorsinterests are clearly aligned with shareholders Years Years of Working Responsibility Experience Together Frank Lodzinski…
  6. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 6
    Track Record Management team has consistently created shareholder value Repeated success with multiple entities over 20+ years 2005 2007 Southern Bay Energy, LLC Results have created long-term and recurring shareholders (Private)…
  7. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 7
    GeoResources Performance Summary Stock Performance (%) Proved Reserve Growth (MMBoe)(1) Merger with Southern Bay to Sale Announcement 40.0 35.9 40.0 CAGR = 57% Initial Investors: 29.2 IRR = 35% 30.0 30.0 Return on Capital = 4.8x…
  8. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 8
    Go-Forward Strategy Utilize similar strategy to previous entities which delivered significant returns to shareholders Asset Strategy Corporate Strategy Optimize Existing Properties Deliver superior returns to shareholders Implement…
  9. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 9
    Asset Overview 9
  10. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 10
    Company Overview Proved Reserves (MMBoe)(1) Proven, growth-oriented management team 30.0 80% Oil-weighted with strong cash margins 71% 2-yr CAGR = 193% 65% Focused on the prolific Eagle Ford and Bakken 25.0 22.2 Robust liquidity…
  11. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 11
    Reserve Summary 2013 and 2014 SEC Price Deck 2013 2014 Reserves Economics Reserves Economics Oil Gas NGL Total Undisc. CF PV-10 Oil Gas NGL Total Undisc. CF PV-10 Category (MBbls) (MMcf) (MBbls) (MBoe) (mm) (mm) Category (MBbls)…
  12. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 12
    Southern Region Le Flore County: Conventional and 13,900 net acres; 34 PDP unconventional assets wells in Red Oak Field Eagle Ford / Grayson County: Austin Chalk Oklahoma 1,200 net acres prospective for horizontal Viola play 2 PDP…
  13. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 13
    Operated Eagle Ford and Austin Chalk 47,900 gross leasehold acres in Gonzales and Fayette Counties 23,900 net leasehold acres Working interests range from 38% to 50% Position developed by management team Pushed Eagle Ford play into…
  14. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 14
    Operated Eagle Ford and Austin Chalk (Contd) Eagle Ford Brought 21 gross wells online in 2014 9 gross wells to come online in Q2 2015 and 7 to 8 wells between Q3 and Q4 2015 500 to 750 foot spacing between wells Offset by Sanchez,…
  15. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 15
    Eagle Ford Drilling and Completion Trends and Economics Pad Averages Feet Drilled per Day Drilling CAPEX per Foot Drilled (/Foot) 300 1,200 269 1,077 1,086 957 250 1,000 221 894 820 199 796 200 186 800 172 170 159 625…
  16. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 16
    Non-Operated Eagle Ford Non-operated position with BHP and Lewis Energy; 71 gross producing wells Two areas totaling 3,100 net acres White Kitchen 15% working interest in 7,625 gross acres Held by production Gas and liquids…
  17. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 17
    Northern Region Williston Basin Summary Near-Term Strategy 98 gross / 7 net wells producing Expand acreage Average working interest of 3% Acquire production 54 gross / 1.3 net wells currently being drilled or Establish operating…
  18. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 18
    Capital Expenditures and Financial Overview 18
  19. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 19
    2015 Capital Expenditure Budget (All figures in millions) Current Budget(1) D&C Spend by Area Drilling and Completion Operated Eagle Ford 38.0 17% Gonzales/Fayette Counties Non-Operated Bakken 12.0 Operated Eagle Ford 11%…
  20. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 20
    Financial Information (All figures in thousands except per unit or where otherwise noted) Pro-Forma Pro-Forma Combined Combined 2013 2014 2014(1) 2013 2014 2014(1) Production Summary of Operations Oil (MBbl) 163 403 798 Total…
  21. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 21
    Hedging Summary Full Year 2015 Oil and Gas Production Hedged Full Year 2016 Oil and Gas Production Hedged Avg. hedged oil price = 69.41/Bbl Avg. hedged oil price = 59.65/Bbl 29% of oil production guidance hedged Avg. hedged gas price…
  22. GHS 100 ENERGY CONFERENCE – Earthstone Energy Inc. – slide 22
    Contact Information Frank Lodzinski President and CEO Robert Anderson EVP, Corporate Development and Engineering Neil Cohen VP, Finance, and Treasurer Corporate Headquarters Houston 1400 Woodloch Forest Drive Suite 300 The…

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