2015 Q2 Highlights Low oil and natural gas prices define financial results in quarter Oil Price 43%, Gas Price 46% Oil & Gas Sales - 77 million, 50% EBITDAX - 48 million Total Cash Flow From Operations - 15 million Haynesville…
E. Texas Eagle Ford Divestiture Properties determined to be non-core after disappointing drilling results Would be required to drill 2 to 3 wells in 2016 to retain acreage position Buyer Private Company Sales Price 115 million…
Oil Production (MBbls / day) From Continuing Operations 12.2 12.2 12.4 11.5 10.4 10.2 2015 oil production is estimated to average between 9,000 to 9,500 barrels per day. 7.6 6.9 6.0 5.1 5.3 4.8 4.5 4.8 3.8 2.1 1.5…
Natural Gas Production (MMcf / day) From Continuing Operations 272 253 254 2015 natural gas production is 245 239 218 estimated to average between 212 125 to 150 MMcf per day 192 174 156 148 133 122 122 111 105 98…
Natural Gas Hedges Building natural gas hedge positions to support the Haynesville drilling program Volume NYMEX price (Mmbtu / day) (Per Mcf) (a) 2015 - Q3 - Q4 10,000 3.20 2016 - Q1 - Q2 10,000 3.20 (a) The index price…
Three Months Ended June 30, 2015 Financial Results 2015 2014 Second Second % Quarter Quarter Change Oil Production (Mbbls) 924 1,112 -17% Gas Production (MMcf) 11,073 10,102 10% Production (MMcfe) 16,616 16,773 -1% % Oil 33.4%…
Six Months Ended June 30, 2015 Financial Results Six Months Ended Six Months Ended % June 30, 2015 June 30, 2014 Change Oil Production (Mbbls) 1,960 2,047 -4% Gas Production (MMcf) 19,273 21,081 -9% Production (MMcfe) 31,034 33,362…
Capital Expenditures Six Months Ended June 30, 2015 in millions 256 254 169 South Texas 107 East Texas / North Louisiana Other - TMS 58 Excludes 53 million in 2014 and 7 million in 2015 for acreage cost 2 4 Six…
2015 Drilling Program ( in millions) Gross WI Net Drilling Budget Wells Wells Expenditures East Tex./North La.: 483 Haynesville Shale 95.0 9 8.3 Refracs 23.0 344 118.0 9 8.3 238 South Texas: Eagle Ford Shale 30.0 4 4.0…
Balance Sheet ( in millions) June 30, Pro Forma * 2015 June 30, 2015 Cash and cash equivalents 130 233 Revolving Credit Facility - - 10 % Senior Secured Notes due 2020 700 700 7 % Senior Notes due 2019 404 404 9 % Senior Notes due…
Haynesville/Bossier Shale Cotton Valley Haynesville Shale Cotton Valley Bossier Shale Haynesville/Bossier Shale Gross Acres 81,000 Net Acres 69,000 Resource 9 new wells planned for 2015 6 Tcf Potential 14 refracs of…
Why Focus on the Haynesville Applying newest drilling and completion technologies to an established world class asset Extended laterals Larger stimulation treatments Attractive rates of return New wells have 27% to 47% rates of…
Enhanced Recovery in the Haynesville Shale Original 640 Acre Pattern New Long Lateral Pattern 8 Wells per Section 6 Wells per 1-1/2 Sections 17 Stages, 4,600 lateral 27 Stages, 7,500 lateral Increased recovery is achieved by…
2015 Haynesville Shale Program Bagley A 3 MMcf/d Re-Frac Harrison 30-19 Completed 24 MMcf/d Drilling Pace 33 Shahan 5-8 1 IP=4 MMcf/d 22 MMcf/d Boggess 5 -8 1 21 MMcf/d Pyle 6-7 1 26 MMcf/d DeSoto Horn 8-17 2 21…
Haynesville Extended Lateral Wells Haynesville shale 7,500 foot lateral wells Mmcf per day 15.6 Bcf IP Rate Days (Mmcf/day) Pyle 6-7 1 26 Shahan 5-8 1 22 Boggess 5-8 1 21 Horn 8-17 2 21 New wells meeting expectations…
Our Plan for 2015 Pursue prudent natural gas drilling program with improved completion technology Over 6 Tcf of reserve potential in Haynesville / Bossier shale Enhanced recovery from longer laterals and increased stimulation Over…
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