Imperial Capitals Global Opportunities Conference September 19, 2012
Endeavour At A Glance Near-term growth through lower risk development activities Growing cash flow from U.K. development projects Exposure to Brent crude oil and European gas Increasing liquids production near-term Balanced…
Significant Production Growth Acquisition and Near-Term Projects (1) Pro forma Production - Bacchus Pro forma Production - Current Production and MacCulloch & Nicol Fields (2) Rochelle (3) 13% 30% 57% 10,000 11,000…
Reserve Valuation Net Asset Valuation (1) (1) (1) Pre-tax PV-10 as of December 31, 2011 pro forma for the acquisition of assets in the North Sea per NSAI audited reserve reports for respective assets. 6
Reserves Value Make-Up and Migration Reserves Migrate from Probable to Proved from Known Fields, with Little Capital Investment 7
Overview of Endeavours U.K. Assets * On 12/27/11, END announced the acquisition of three ConocoPhillips assets in the North Sea, including an increased working interest in Alba and two new assets MacCulloch and Nicol. Alba…
Expected 2012 Exit Position of Endeavour 9
Bacchus - Block 22/06a Central North Sea END WI: 30% Operator: Apache (50% WI) Bacchus Partner: First Oil (20% WI) First two wells on production 13,000 boepd gross Reservoir is formed by shallow marine Fulmar sandstones of…
Rochelle - Blocks 15/26b, 15/26c and 15/27 Operator: Endeavour (44% WI) Ivanhoe / RobRoy Partners: Nexen (41% WI), Premier Oil (15% WI) FDP Approved: February 2011 Renee Rubie Online: Q4 2012 Goldeneye Project in execution…
Rochelle Field - Development Status 2012 Achievements Pipeline section fabrication completed Commenced full pipeline completed Deliveries on target Beds on the platform allocated Regulatory consents in place Drilling commenced on…
Alba Field Overview - Block 16/26a END WI: 25.68% MacCulloch Operator: Chevron (23.37% WI) Partners: Statoil (17% WI) Nicol BP (13% WI) Total (12.65% WI) CIECO/Itochu (8% WI) Britannia Discovered/1st Production 1984/1994…
Alba Field - Future Development Sustain current production and increase reserves through continued development drilling Cumulative production to date 373 MMbbls gross Infill drilling since 2009 has largely sustained production…
MacCulloch Field Overview - Block 15/24b END WI: 40% WI* Partners: ENI(40% WI) Noble Energy (14% WI) Talisman (6% WI) Discovered/1st Production 1990/1997 490ft water depth Paleocene reservoir at 6,200ft depth Large and…
MacCulloch Field - Details Cumulative production to date 114 MMbbl gross Plan to assume operatorship from ConocoPhillips on completion of acquisition Plans to perform a detailed asset performance review: Evaluation of infill /…
Overview of Endeavours US Assets US 2011 Year-End Totals 582,000 gross / 159,000 net acres 18.5 MMCFe/D net production (1Q 2012) Heath Shale Oil Play - MT 61 BCFe Proved / 89 BCFe 2P reserves Marcellus Play - PA Cretaceous…
Heath Shale Tight Oil Play in Central Montana Heath Play, END Activity 25% joint venture with two independent Montana producers 430,000+ gross acres primarily in Garfield and Rosebud Counties (94,000 net to END) Re-entry of 1st…
The Haynesville and Marcellus Plays Low cost entry with limited drilling requirements Endeavours Marcellus and Haynesville acreage largely held by production No wells currently drilling Future capex is at Endeavours discretion,…
Capital Structure 20
2012 Capital Plan by Project - 175mm to 200mm 2012 is About Turning On and Maintaining North Sea Production Note: Capital Plan is pro forma for the North Sea Acquisition 21
Corporate Focus for 2012 High Yield Transaction completed February 2012 North Sea Asset Acquisition Closed acquisition of Alba interests on May 31, 2012 Closing on the acquisition of MacCulloch and Nicol field interests expected in…
NYSE:END LSE:ENDV www.endeavourcorp.com INVESTOR CONTACTS: Mike Kirksey Darcey Matthews Chief Financial Officer Director of Investor Relations 713.307.8788 / +44.207.451.2381 713.307.8711 mike.kirkseyendeavourcorp.com…
Loading...
