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Q2 2015 RESULTS – EP Energy Corp

EP Energy Corp · Jul 30, 2015 · 19 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. Q2 2015 RESULTS – EP Energy Corp – slide 1
    Second Quarter 2015 Investor Update July 30, 2015
  2. Q2 2015 RESULTS – EP Energy Corp – slide 2
    Another Quarter of Great Results Operational Financial Improved well performance Adjusted EBITDAX growth up 9% from 2Q14 All programs outperforming Adjusted EPS 0.17 Sustained step change outperformance in Wolfcamp Discretionary…
  3. Q2 2015 RESULTS – EP Energy Corp – slide 3
    2Q15 Operations Summary (MM) Equivalent Natural Completed Production Oil NGLs Gas Eagle Ford Wolfcamp Program Wells (MBoe/d) (MBbls/d) (MBbls/d) (MMcf/d) 213 75 Eagle Ford 42 60.4 41.5 9.6 56 Altamont 45 Wolfcamp 9 19.1 9.0 4.8…
  4. Q2 2015 RESULTS – EP Energy Corp – slide 4
    Efficient Growth with Lower Costs Gross Well Cost1 (MM) Total Company LOE (/BOE) Eagle Ford 7.4 7.2 6.4 5.3 5.69 FY'13 FY'14 1H'15 Best 1H 4.72 Well 2Q'14 2Q'15 Wolfcamp 6.2 5.6 5.5 4.9 Total Company Production…
  5. Q2 2015 RESULTS – EP Energy Corp – slide 5
    Financial Results 6
  6. Q2 2015 RESULTS – EP Energy Corp – slide 6
    2Q Financial Highlights 404MM Adjusted EBITDAX up 9 percent from 2Q14 0.17 Adjusted EPS and 1.36 DCF per share Adjusted unit cash operating costs down 28 percent from 2Q14 40.75 per barrel adjusted unit cash margins Solid…
  7. Q2 2015 RESULTS – EP Energy Corp – slide 7
    Improving Financial Position Balance sheet and cash flow on track Sector-leading hedge position Strong liquidity of 1.6 billion at 6/30/15 Reaffirmed value of RBL Facility at 2.75 billion and extended maturity to 2019 Replaced…
  8. Q2 2015 RESULTS – EP Energy Corp – slide 8
    Continued Lower Cash Costs /Boe Adjusted Cash Operating Costs Per Unit Margin / Cost 2Q 2014 2Q 2015 Variance Unit revenue 60.06 54.05 10% unfavorable 14.88 LOE (5.69) (4.72) 17% favorable 12.85 Adjusted net G&A (5.32) (3.73) 30%…
  9. Q2 2015 RESULTS – EP Energy Corp – slide 9
    Solid Multi-year Hedge Program 2015 2016 2017 Oil Fixed Price Hedges Fixed Price Swap Oil volumes (MMBbls)1 11.1 18.0 5.1 Average floor price (/Bbl) 91.11 80.29 65.87 Percent hedged based on midpoint of updated 2015 97% 79% 23%…
  10. Q2 2015 RESULTS – EP Energy Corp – slide 10
    Updated 2015 Outlook Original Guidance Previous Guidance Current Guidance (2/19/15) (4/30/15) (7/30/15) Capital program ( billion) 1.2 1.3 1.2 1.25 1.2 1.25 Acquisition cost ( billion) 0.1 Total production (MBoe/d) 94.5 109.5 97.0…
  11. Q2 2015 RESULTS – EP Energy Corp – slide 11
    Asset Programs 12
  12. Q2 2015 RESULTS – EP Energy Corp – slide 12
    Eagle Ford: Continued to Deliver and Outperform Averaged 3 rigs and 2 stim crews in 2Q 42 wells completed Oil Production (MBbls/d) Record oil production up 23% (2Q'14 to 41.5 2Q'15) 37.8 38.0 35.9 Improved well performance and…
  13. Q2 2015 RESULTS – EP Energy Corp – slide 13
    Eagle Ford: Steadily Improving Results 60 IP 30 Results (BOPD) 800 50 +13% Cumulative Production, MBO 40 Oil Production, BOPD 30 600 779 706 695 20 10 400 FY 2014 Current Type Curve 2Q'15 0 0 20 40 60 80 100…
  14. Q2 2015 RESULTS – EP Energy Corp – slide 14
    Eagle Ford: Bolt-on Acquisition Bolt-on to current Eagle Ford asset for 118MM EPE Dilley Office Good value and Expected to close in early September strategic fit Producing 2,950 Boe/d (80% liquids)1 Acreage on trend and similar in…
  15. Q2 2015 RESULTS – EP Energy Corp – slide 15
    Wolfcamp: Continued Performance Improvement Averaged 1 rig and 1 stim crew in 2Q Oil Production 9 wells completed in 2Q (MBbls/d) Oil production up 14% (2Q14 to 2Q15) 9.4 9.5 9.2 9.0 Continued to increase subsurface 7.9…
  16. Q2 2015 RESULTS – EP Energy Corp – slide 16
    Wolfcamp: Maintaining Outperformance 50 600 Wolfcamp B&C IP 30 Results (BOPD) 45 500 40 +40% 35 Cumulative Production, MBO 400 Oil Production, BOPD 30 521 25 300 515 20 200 369 15 315 10 100 5 0 0 20 40…
  17. Q2 2015 RESULTS – EP Energy Corp – slide 17
    Altamont: Another Strong Quarter Oil Production (MBbls/d) Averaged 2 rigs and 1 stim crew 12.9 12 wells completed 12.8 12.5 11.7 11.8 Record oil production up 10% (2Q14 to 8.9 9.5 9.8 2Q15) 8.3 Completed another all-time…
  18. Q2 2015 RESULTS – EP Energy Corp – slide 18
    Haynesville: Modernizing Development In High Return Program Drilled first two 4,500 lateral Haynesville wells since 1Q12 Caddo Utilized enhanced completion designs 4,500 laterals Four successful refracs completed 7,500…
  19. Q2 2015 RESULTS – EP Energy Corp – slide 19
    Another Great Quarter Continued to deliver favorable operational and financial results Improved well performance in all programs Increased efficiencies and improved well returns Step-change improvements in Wolfcamp program Adding…

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