Skip to main content ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. Investor Presentation | Shale Experts
Loading...
Pm

ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp.

Unit Corp. · Aug 15, 2012 · 29 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. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 1
    EnerComs The Oil & Gas Conference August 15, 2012
  2. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 2
    Overview of Operations 16 Bakken Tulsa based company founded in 18 1963 with long history of operations Casper in the Mid-Continent Office Integrated approach to business Marcellus allows Unit to balance its capital Tulsa…
  3. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 3
    Summary of Business Strengths Integrated Integrated approach to business allows Unit to balance its capital Approach Enhances deployment through the various stages of the energy cycle Stability and Vertical integration offers key…
  4. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 4
    Core Upstream Producing Areas Bakken Beginning in late 2008, implemented strategy of increasing focus on liquids-rich and oil prospects Forecast to end 2012 with 42% liquids production Key focus areas include: Granite Wash (Texas…
  5. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 5
    Strategic Acquisition Unit Corporation is acquiring certain oil and natural gas properties and related gathering and processing infrastructure primarily located in Western Oklahoma and the Texas Panhandle from Noble Energy…
  6. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 6
    Transaction Rationale Quality, liquids rich oil and gas property set with significant upside 44 MMboe of proved reserves (80% PD)(1) 10.0 Mboe/d April 2012 daily production (36% Oil/NGLs) Strategic fit with Units existing E&P assets…
  7. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 7
    Significant Overlap in Core Operating Area Material acreage overlap with existing Pro forma Acreage Position in Core Mid-Continent Area properties adding 188,000 gross acres (84,000 net acres) which is 95% HBP Adds 25,000 net acreage…
  8. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 8
    Track Record of Reserve Growth Proved Reserves (MMBoe) 160 160 Stable and consistent economic growth of oil 2002 2011 CAGR: 14% and natural gas reserves of at least 150% of 140 120 116 each years production 104 100 95 96 86 79…
  9. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 9
    Increasing Production while Improving Commodity Mix Annual Production (MBoe/d) 50 39 40 37 38 33 36 29 28 30 27 20 10 55% 0 2008 2009 2010 2011 2012E 2012E Incl. Noble Net Wells Drilled: 134 43 88 82 Oil /…
  10. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 10
    Granite Wash Play Noble acquisition increases Granite Wash position 119% to 46,000 net acres in the Texas Panhandle Core Area Adds 600 potential drilling locations 2011 Q2 2012 Results First sales on 33 operated Granite Wash…
  11. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 11
    Marmaton Oil Play 2011 Q2 2012 Results First sales on 51 operated Marmaton horizontal wells (includes one extended lateral well) Average 30-day IP (incl. extended lateral) = 311 Boe/day 298 Boe/day (excl. extended lateral)…
  12. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 12
    Wilcox Liquids Play 2003 - 2011 Completed 109 wells at 72% success rate Field Discovery announced July 2012 Reserve Resource Potential Gross 229 Bcfe; Net 159 Bcfe 8% oil, 35% NGL, 57% natural gas Field Four Wells Completed…
  13. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 13
    2012 Capital Program No material increases to current 2012 capital program on a pro forma basis 457 million (57% of 2012 capital budget) allocated to E&P operations 385 million drilling capital budget allocated principally to the…
  14. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 14
    Significant Drilling Presence in Attractive Producing Regions 128 rig fleet 16 Fleet average 1,200 HP rating; 16,724 ft depth capacity 60% utilization rate for Q2 2012 87% of 47 1,200-1,700 HP rigs under contract 18 Casper…
  15. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 15
    Average Number of Rigs Utilized 100 75 50 25 0 2008 2009 2010 2011 6 mos. 2012
  16. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 16
    Diverse and Versatile Rig Fleet 400-700 h.p. 750-1,000 h.p. 1,200-1,700 h.p. 2,000 h.p. 2,500 h.p. 0 20% Growing demand from increased 40% Utilization shallow 37 of 47 Percentage horizontal drilling working (57% as of…
  17. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 17
    Average Dayrates and Margins(1) 20,000 120 Average Number of Rigs Utilized 15,000 90 Margins / DayRates () 10,000 60 5,000 30 0 0 2008 2009 2010 2011 6 mos. 2012 Margins Day Rates Rigs Utilized Nine…
  18. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 18
    Superior Pipelines Core Operations Three natural gas treatment plants 11 natural gas processing plants 36 active gathering systems 981 miles of pipeline MAJOR SYSTEMS Average Processing Pipeline Volume Capacity (miles)…
  19. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 19
    Historical Performance Historical Daily Gathering Volumes (MMBtu / d) NGLs Volumes (Bbl / d) 300,000 15,000 200,000 10,000 100,000 5,000 0 0 2008 2009 2010 2011 1st Half 2008 2009 2010 2011 1st Half 2012 2012…
  20. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 20
    Balance Sheet Summary 6/30/12 12/31/11 (In Millions) Working Capital 41.5 15.7 Total Assets 3,353.4 3,256.7 Long-Term Debt Senior Subordinated Notes 250.0 250.0 Bank Facility 82.9 50.0 Total Long-Term Debt 332.9 300.0…
  21. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 21
    Debt Structure Senior Subordinated Notes As of June 30, 2012 July 2012 Add-On 250 million, 6.625% 400 million, 6.625% First-time issuer Issued at 98.75% of par Issued in May 2011 10-year, NC5 Unsecured Bank Facility (1)…
  22. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 22
    Conservative Pro Forma Balance Sheet UNTs historical commitment to a Actual Pro Forma ( in millions) 6/30/12 Adj. 6/30/12 strong balance sheet has Cash 1 1 positioned the business for this Working Capital 42 37 opportunity Total…
  23. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 23
    Hedges Target 5070% of current year projected oil and natural gas production Crude oil 77% in 2012 Natural gas 40% in 2012 Primarily utilize swaps and collars Current hedge portfolio consists of swaps & collars Natural Gas…
  24. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 24
    Segment Contribution Revenues ( millions) EBITDA ( millions)(1) 1,358 754 1,400 800 1,208 1,200 604 600 1,000 862 442 800 710 662 371 400 337 600 400 200 200 0 0 2008 2009 2010 2011 6 mos. 2012 2008 2009 2010…
  25. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 25
    Adjusted Earnings per Share(1) 7.00 6.00 5.00 4.00 3.00 2.00 1.00 0.00 2008 2009 2010 2011 6 mos. 2011 6 mos. 2012 (1) See Adjusted EPS reconciliation to EPS.
  26. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 26
    Capital Expenditures (In Thousands) 1,000,000 800,000 600,000 400,000 200,000 0 2007 2008 2009 2010 2011 2012 Budget Unit Petroleum Unit Drilling Superior Pipeline
  27. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 27
    Non-GAAP Financial Measures EBITDA Twelve mos. Six months ended ended June 30, Years ended December 31, June 30, ( in Millions) 2011 2012 2008 2009 2010 2011 2012 Net Income 91 33 144 (56) 146 196 127 Income Taxes 57 21 82 (32) 91…
  28. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 28
    EPS Reconciliation 6 mos. 6 mos. 6 mos. 6 mos. 2011 2011 2012 2012 (in millions except per share amounts) Amount Per Share Amount Per Share Net income before impairment of oil and natural gas properties 90.8 1.89 105.3 2.19…
  29. ENERCOMS THE OIL AND GAS CONFERENCE – Unit Corp. – slide 29

From the store

Browse maps, data & reports in the Shale Experts store