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Q1 2013 RESULTS – Endeavour International Corp

Endeavour International Corp · May 9, 2013 · 11 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. Q1 2013 RESULTS – Endeavour International Corp – slide 1
    First Quarter 2013 Earnings Review May 9, 2013
  2. Q1 2013 RESULTS – Endeavour International Corp – slide 2
    2013 First Quarter Financial/Operational Results Sales Volumes and Physical Production Q1 sales volumes averaged 7,186 barrels of oil equivalent per day (boepd) Volumes for the quarter were impacted by the timing of liftings at the…
  3. Q1 2013 RESULTS – Endeavour International Corp – slide 3
    Production Volumes (BOE per day) 2012 2013 Q1 Sales = 4,174 Q1 Sales = 7,186 25% 21% 74% 79% US Gas US Oil UK Oil UK Gas First quarter 2013 sales volumes were impacted by the timing of liftings at the Alba field, where…
  4. Q1 2013 RESULTS – Endeavour International Corp – slide 4
    Summary Financial Results Three Months Ended March 31, Measure ( in millions, except per share data) 2013 2012 Oil and Gas Revenues 57.7 15.2 Operating Expenses 17.5 4.9 Adjusted cash flow from Operations 40.2 10.3 Revenues…
  5. Q1 2013 RESULTS – Endeavour International Corp – slide 5
    Key Business Metrics Three Months Ended March 31, Measure ( expense per BOE) 2013 2012 Operating Expenses (OpEx) Consolidated 27.04 12.89 U.K. 27.22 32.81 U.S. 26.37 5.83 Depreciation, depletion and amortization (DD&A)…
  6. Q1 2013 RESULTS – Endeavour International Corp – slide 6
    Adjusted EBITDA Three Months Ended March 31, Measure ( in millions, except per share data) 2013 2012 Net Income (loss) (14.0) (35.3) Unrealized (gain) loss on derivatives (1.6) 4.8 Net Interest Expense 21.4 19.7 Letter of Credit…
  7. Q1 2013 RESULTS – Endeavour International Corp – slide 7
    Adjusted Net Income (Loss) Three Months Ended March 31, Measure ( in millions, except per share data) 2013 2012 Net Income (loss) (14.0) (35.3) Impairment of U.S. oil and gas properties 3.5 15.7 Unrealized (gain) loss (net of…
  8. Q1 2013 RESULTS – Endeavour International Corp – slide 8
    2013 Direct Capital Expenditures U.K. = 140 million - 150 million U.S. = 10 million - 30 million Alba Bacchus Centurion South U.K. Other Rochelle U.S. Rochelle and Bacchus represent 60% of the planned spend in the…
  9. Q1 2013 RESULTS – Endeavour International Corp – slide 9
    Capex Update Three Months Ended March 31, Measure ( in millions) 2013 2012 Development Capital U.K. 30.9 39.1 U.S. 0.1 4.3 Exploration Capital U.K. 1.7 3.5 U.S. 0.1 5.7 Other 0.2 2.8 Total Direct Oil & Gas Capex 33.0 55.4…
  10. Q1 2013 RESULTS – Endeavour International Corp – slide 10
    U.K. Hedged Oil Position 4,000 120 100 3,000 80 bbl/d /bbl 2,000 60 40 1,000 20 - 0 1Q2013 2Q2013 3Q2013 4Q2013 Hedged Production Ave Ceiling Ave Floor The current hedging program involves embedding collars…
  11. Q1 2013 RESULTS – Endeavour International Corp – slide 11
    Debt Maturity Schedule 500 400 300 554 mm 200 72 100 115 135 0 2013 2014 2015 2016 2017 2018 The remaining 15 million of the Credit Facility, due October 2013, was extended to July 2014 Revolving Credit…

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