Skip to main content Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. Investor Presentation | Shale Experts
Loading...
Pm

Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp.

Unit Corp. · Jul 11, 2012 · 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. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 1
    Acquisition of Oil & Gas Properties in Mid-Continent July 11, 2012
  2. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 2
    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…
  3. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 3
    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…
  4. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 4
    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…
  5. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 5
    Review of 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…
  6. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 6
    Acquisition Adds to Integrated Businesses Tulsa based company founded in 1963 with long history of operations 6 in the Mid-Continent Integrated approach to business allows Unit to balance its capital deployment through the…
  7. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 7
    Transaction Fits within Core Upstream Focus 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…
  8. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 8
    Granite Wash Play Increases Granite Wash position 119% to 46,000 net acres in the Texas Panhandle Core Area 600 potential drilling locations 2011 Results First sales on 16 operated Granite Wash horizontal wells Average 30-day…
  9. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 9
    Marmaton Oil Play 2011 Results First sales on 34 operated Marmaton horizontal wells Average 30-day IP = 308 Boe/day Average reserves: 130 MBoe (92% oil & liquids) Current CWC: 2.7 MM Focus (4,000 lateral, 16 stage frac)…
  10. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 10
    Wilcox Liquids Play 2003 - 2011 Completed 109 wells at 72% success rate 2011 Results Completed 17 wells at 59% success rate Average 30-day IP rate = 248 Boe/day Average reserves: 230 MBoe (50% oil & liquids) Average…
  11. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 11
    Bakken Shale 2011 Results First sales 17 wells Average 30-day IP rate = 1,098 Boe/day Average reserves: 662 MBoe 86% oil 2012 Projected 2-3 third party rigs drilling = 30 non-op horizontal wells Average CWC: 11.0 MM…
  12. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 12
    Significant Drilling Presence in Attractive Producing Regions 128 rig fleet 16 Fleet average 1,200 HP rating; 16,724 ft depth capacity 64% utilization rate for Q1 2012 87% of 47 1,200-1,700 HP rigs under contract 18 Casper…
  13. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 13
    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 41 of 47 Percentage horizontal drilling working (59% as of…
  14. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 14
    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 Q1 2012 Margins Day Rates Rigs Utilized Eight Consecutive…
  15. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 15
    Superior Pipelines Core Operations Average Processing Pipeline Volume Capacity (miles) (MMBtu/d) (MMcf/d) Hemphill/Mendota 165 115,000 115 Perkins 57 5,200 10 Cashion 160 28,500 50 Minco 134 6,000 12 Panola (1) 50 32,000 -…
  16. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 16
    Historical Performance Historical Daily Gathering Volumes (MMBtu / d) NGLs Volumes (Bbl / d) 250,000 12,000 200,000 10,000 150,000 8,000 100,000 6,000 50,000 4,000 0 2,000 2008 2009 2010 2011 Q1 12 2008 2009 2010 2011…
  17. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 17
    Protect Cash Flows 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 & costless…
  18. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 18
    Acquisition Consistent with Strategy 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…
  19. Acquisition of Oil and Gas Properties in Mid Continent – Unit Corp. – slide 19

From the store

Browse maps, data & reports in the Shale Experts store