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Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co.

Mcmoran Exploration Co. · May 8, 2012 · 20 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. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 1
    Susquehanna: 2012 Energy & Resources Conference James R. Moffett Co-Chairman of the Board New York City May 8, 2012 www.mcmoran.com
  2. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 2
    Trailblazer Geologic Success Has Identified Major New Sub-Salt Trend Spanning 200 + Miles on Shelf of GOM/Onshore South LA Targets Prospects on Large Structures with Multi-Tcfe Potential Leading the Way in Developing…
  3. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 3
    McMoRan Overview Leading Gulf of Mexico Shelf Exploration & Production Company Focused Strategy Create Value Through High Potential Exploration Drilling Industry Leader in Deep Drilling One of the Largest Acreage Holders on the…
  4. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 4
    Proved Reserves as of 12/31/11 Excludes Pending Results from Ultra-Deep Activities By Commodity By Commodity By Category 6:1 Ratio Relative Revenue %* PUD 15% PDP Oil 28% Oil 64% 34% PDSI 3% Gas PDNP 59% Gas 54% 7% 7%…
  5. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 5
    Conceptual Model - Ultra-Deep Play McMoRan Broadly Recognized as Industry Leader in This New Exploration Frontier Drilling activities to date have successfully confirmed McMoRans geologic model and have indicated the potential for…
  6. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 6
    Ultra-Deep Findings To Date Davy Jones Davy Jones Blackbeard Blackbeard No. 1 No. 2 West No. 1 East Lafitte Working Interest 63.4% 63.4% 69.4% 72.0% 72.0% Net Revenue Interest 50.2% 50.2% 56.5% 57.4% 58.3% Pay Counts (1) 200 Wilcox…
  7. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 7
    Ultra-Deep Accomplishments To-Date Activities to Date Have De-risked Shallow Water, Ultra-Deep Shelf Play Proved Wells Can be Drilled/Evaluated Safely Below Salt Weld Confirmed Geologic Model in 8 Formations Below Salt Weld Proved…
  8. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 8
    Davy Jones Achieved Major Engineering Milestone in Completing First High-Pressure High-Temperature Sub-Salt Well on the Shelf of the Gulf of Mexico Discovery Well Wilcox Sands with 13-15% Porosity Pay Count Summary B sand…
  9. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 9
    Davy Jones 1 Next Steps Well Workover Currently In-Progress Removed Tubing from Well Clean Out Debris/Blockage Remove Perforating Guns Currently Set Across Wilcox F Sand Re-running Tubing Flow Testing Workover Provides Access…
  10. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 10
    Ultra-Deep Well Status Report Davy Jones Field 1 Workover Under Way to Provide Access to All Wilcox Sands 2 Expect to Commence Completion in 2H12 Lineham Creek Onshore Cameron Parish, LA Blackbeard West 2 Large Area of…
  11. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 11
    Blackbeard Ultra-Deep Exploration Area Located in 80 Feet of Water 12
  12. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 12
    Blackbeard East Cross Section Upper Miocene Middle Miocene Frio Sparta interval at bottom of hole appears to have hydrocarbon bearing fractures. Set perforated liner across entire Sparta interval. 13
  13. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 13
    Other Ultra-Deep Prospects with Similar Characteristics to Blackbeard Velocity Anomaly Seen at Blackbeard East May be Visible at Other Nearby Prospects Drilling Drilling West East Velocity Anomalies Below Salt Weld 14
  14. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 14
    Lafitte Cross Section & Logs TD 34,162 TVD 15
  15. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 15
    Lafitte/Barataria/Captain Blood Cross Section Results at Lafitte Enhance Potential of Lafitte Strategic Area Including McMoRans Barataria and Captain Blood Prospects 16
  16. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 16
    Evolution of the Sub-salt Ultra-Deep Play to Onshore In addition to Lineham Creek, McMoRan has Identified Multiple Major Sub-salt Structures Onshore South Louisiana Lineham Creek Drilling in Progress Davy Jones Discovered in…
  17. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 17
    Ultra-Deep Prospects/Potential Gross Unrisked Potential*: Shelf Prospects: 100 Tcfe; Onshore Prospects: 30 Tcfe JOHN PAUL JONES DAVY JONES ONSHORE ULTRA-DEEP LINEHAM CREEK PROSPECT A (in progress) ONSHORE ULTRA-DEEP ENGLAND…
  18. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 18
    2012 Outlook Summary 2012 Production Estimate* - Annual Average 135 MMcfe/d - Excludes Potential Production from Davy Jones 1 - Expect to Increase 2012 Estimate Once Commercial Production is Established at Davy Jones - 2Q12e 145…
  19. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 19
    Cash Flow Sensitivities ( in millions) 2012e EBITDAX Models Based on Varying Production Levels (1) 230 195 175 135 150 180 Mmcfe/d Mmcfe/d Mmcfe/d Impact to EBITDAX +/- 1/Mmbtu 31 MM 36 MM 46 MM +/- 10/Bbl 13 MM 14 MM 15…
  20. Susquehanna 2012 Energy and Resources Conference – Mcmoran Exploration Co. – slide 20
    Summary Exploration Results Have Validated Geologic Model Developed Valuable Engineering Processes/ Technologies to Convert Geologic Success to Commercial Success Opportunities to Apply Model and Unlock Additional Value from…

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