Skip to main content February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. Investor Presentation | Shale Experts
Loading...
Pm

February 2012 IPAA OGIS – Carrizo Oil & Gas Inc.

Carrizo Oil & Gas Inc. · Feb 2, 2012 · 26 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. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 1
    Nasdaq: CRZO IPAA OGIS Palm Beach Carrizo Oil & Gas, Inc. February 2, 2012
  2. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 2
    Operating Profile Net Shale Acreage Summary Eagle Ford Shale 41,000 Niobrara Shale 58,255 Marcellus Niobrara Fort Worth Barnett 32,000 Utica Shale Shale Marcellus Shale 100,595 Shale Barnett Shale Ft. Worth Basin U.K. North…
  3. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 3
    Reserve Growth, Production Growth, and Reserve Replacement 12/31 Proved Reserves (Bcfe) Average Daily Production (Mmcfe/d) 900 841.6 120 800 100.8 100 90.5 700 601.9 600 80 70.2 502.6 500 60 400 346.7 47.9 300 40 32.1 210.0 26.3…
  4. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 4
    Liquids Strategy On Track 1,200% increase in oil production since initiating Eagle Ford production in November 2010 December 2011 revenues from oil production exceeded 50% of total sales Oil Production 5500 5000 4500 4000…
  5. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 5
    Reserves and Reserve Potential by Region 4,000 3,505 BCFE(2) 3,500 3,000 2,500 Net Shale Acreage Summary 2,000 Eagle Ford Shale 41,000 1,500 Niobrara Shale 58,255 Fort Worth Barnett 32,000 841 BCFE(1) 1,000 Marcellus Shale…
  6. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 6
    Capital Program US Millions Category FY 2010 FY 2011 Est. Drilling Barnett Shale 129 80 Marcellus Shale 8 30 Eagle Ford Shale 30 200 Niobrara Shale 12 40 Other areas 15 10 Total Drilling 194 360 Land & Seismic Acquisition…
  7. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 7
    Current Financial Position Revolving Credit Facility (due 2016) Facility effective November 2011 340 MM initial borrowing base with interest rate of LIBOR + 2.75% Consortium of 9 banks led by BNP/Paribas Restrictive covenant: Debt <…
  8. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 8
    Hedge Position Type of Volume Daily Volume Avg. Floor Avg. Ceiling Avg. Short Put Basis % of Q3 Gas Period Contract (MMBtu) (MMBtu/d) Price Price Put Price Spread Differential Production Q4 2011 Total Volume 7,544,000 82,000 77.80%…
  9. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 9
    Carrizo Joint Ventures Carrizo Has Significant Experience in the Formation of Joint Ventures Joint venture with Avista Capital Partners in the Utica Shale, September 2011 Early stage land acquisition program in Utica condensate zone…
  10. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 10
    Liquids Rich Resource Opportunities Reserve Expectations Eagle Ford Shale Acres % drillable Spacing Wells EUR/Well Target (Acres) (MBOE) Reserves (MMBOE) 41,000 90 115 321 400 128.4 Production and unproven acreage metrics from…
  11. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 11
    Eagle Ford Shale Overview Well design and expectations: 41,000 net acres in 75% liquids, 25% rich gas condensate window above 10,000 primarily located in Development well costs of 7.5 - 8.0 million LaSalle County 5,000 laterals,…
  12. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 12
    Eagle Ford Shale Gas Condensate Window Economics Well Only Type Curve 1,000 150 Total well cost 7.5 MM 900 135 Reserves Gross 400 MBOE 800 120 (GOR=2,000) 700 105 Net 300 MBOE Oil Rate (BOPD) Cum Oil (MBO) 600 90 F&D…
  13. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 13
    Eagle Ford Shale Well Performance 100,000 24 90,000 21 80,000 18 70,000 15 60,000 12 Well Count 50,000 9 CUM BO 40,000 6 30,000 3 20,000 0 10,000 -3 0 -6 0 30 60 90 120 150 180 210 240 270 300 330…
  14. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 14
    Eagle Ford Shale Value Components 1.33 BOE 1.6 Mcf dry Gas 2.50/mmbtu 2 Mcf Assoc Gas Recovered NGL NGL Liquids Per Component Pricing Revenue 2 MCF (/Gal) per Bbl Oil Wellhead Oil (Gal) Ethane 0.68 4.95 3.37 Propane 1.29 3.15…
  15. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 15
    Niobrara Activity Map 58,255 net acres in Weld County, CO Acreage high-graded using resistivity data from deeper wells 10 wells on production, 2 waiting on completion, 1 drilling First 5 wells test at rates ranging from 650 to 725…
  16. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 16
    Niobrara Why We Like The Niobrara Our geologic model appears to be working Oil-in-place indicators validated by Company and industry well results Focus on geo-steering and staying in target B bench zone improves well productivity…
  17. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 17
    Niobrara Economics Well Only Type Curve 800 80 Total well cost 3.6 MM 700 70 Reserves Gross 250 MBOE 600 60 (GOR=1,500) Net 200 MBOE Cum Oil (MBO) 500 50 Oil Rate (BOPD) F&D Cost 18 / BOE 400 40 IRR (1) 100…
  18. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 18
    Barnett Shale Overview of Carrizos Position Tier 1 Core 32,000 net acres remaining in the Barnett core in SE Tarrant and Denton Counties where Wise Denton development economics are among best in industry YE 2010 total proved…
  19. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 19
    Marcellus Shale JV Operating Areas New York Marcellus JV 16K Acres (w/Avista) Operations 2 Rigs drilling in NE PA acreage (40% CRZO) 5 wells producing; 8 being completed, backlog of 21 C Counties wells drilled waiting on…
  20. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 20
    Marcellus Shale Project NE Pennsylvania Susquehanna Operations 1 Rig drilling 5,000 18 stage horizontal wells along route of pipeline 2 well Bonnice pad on production 3 well Baker South pad on production Laser Pipeline 5 Baker…
  21. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 21
    Marcellus Shale NE PA Economics NE PA Marcellus NE PA Type Curve 10000 Total well cost 6.5 MM 9000 8000 Net Reserves 7.5 Bcf Avg. Daily Prod. Rate, MCFD 7000 6000 F&D Cost 0.87 / Mcf 5000 4000 IRR 6.00 NYMEX 88%…
  22. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 22
    Utica Shale Area of Activity Carrizo/Avista Utica JV Ohio Formed to acquire acres in Utica condensate zone Capitalized from 130 to 200 million Initial 16,600 JV acres in Mercer and Trumbull counties Pennsylvania Initial…
  23. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 23
    UK North Sea Huntington Development Project Forties reservoir tested 7,940 Boe/d Appraised with 9 penetrations Currently drilling 3rd production well 3rd Party gross reserve estimate mid-point of 42 MMBOE, 15% CRZO First…
  24. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 24
    Carrizo Oil & Gas Value Proposition(1) Marcellus Barnett (excl. W Va) Eagle Ford Niobrara N Sea Total Total 3P Reserve Potential, Bcfe 1,102 1,714 578 150 82 3,593 Cumulative Production, Bcfe 97 0 4 0 0 101 Proved Reserves,…
  25. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 25
    Summary Successfully executing strategy: Outstanding organic growth in reserves and production Leveraging Barnett Shale expertise into other shales Maintaining financial liquidity with JVs and asset sales 18.9 Bcf of 2012 gas…
  26. February 2012 IPAA OGIS – Carrizo Oil & Gas Inc. – slide 26

From the store

Browse maps, data & reports in the Shale Experts store