Agenda Bennu Overview Financial Highlights Assets and Opportunities Near Term Priorities Longer Term Objectives Future Aspirations Q&A 8/14/2015 3
Bennu Overview Formed September 2013 to acquire key producing properties, infrastructure, certain exploratory blocks in GOM from ATP estate Acquisition closed 11/1/13, along with 2nd lien term loan which was ultimately upsized to…
Financial Highlights 2014 FY production - 5.1 mmboe 2014 FY Revenue, EBITDA - 375mm, 240mm End 2014 leverage ratio 2.4 (Net Debt / TTM EBITDA) End 2014 cash - 190 mm Self-funded CAPEX Proactive 2nd Lien Credit Agreement…
Bennu Drilling Opportunities Mirage Morgus Bennu Titan MC941 5 Power Nap Vito Deep Sleep Bennu AT62 1 Bennu AT63 5 Telemark Kildrummy 8/14/2015 7
MC 941 Well 5 Opportunity: Acquire an interest in the existing production and join in the drilling and completion of the MC 941 Well 5 Field is currently producing 4500 BOEPD from the A-1 and A-2 wells in Morgus the Miocene B&C…
AT 63 Well 5 Opportunity: Join in the drilling and completion of the AT 63 Well 5 Titan Bennu plans to drill the AT 63 5 Well to develop the Miocene E Series reservoirs on AT 63 Well Target: E series sands at 23,500 MD/22,775 TVD…
AT 62 Well 1 Exploration Tail Opportunity: Join in the drilling of Titan the AT 62 Well 1 (Exploratory Tail) Power Nap Bennu plans to extend the AT 63 Well 5 to a bottom hole location Vito in AT 62 (AT 62 Well 1) to test the Middle…
Titan Production Facility Located on Mississippi Canyon Block 941 Capacity of 25k bopd and 50 MMcf/d with adequate space for capacity upsizing Currently utilized by Bennus Telemark, Mirage and Morgus Fields; planned tie-back for…
Near Term Priorities Recently hired Simmons & Company and Houlihan Lokey Capital, Inc. to assist Bennu with: securing partners for our 2016 PUD Projects, exploring and evaluating potential Gulf of Mexico acquisition opportunities,…
Longer Term Objectives Diversify Bennus portfolio (including PUD project farm-downs) Proactively pursue opportunities proximal to accessible infrastructure Safely, cost-effectively, successfully execute PUD projects Test Deep…
Aspirations Fully committed to HSE Ensure a culture of performance, values and transparency Sustainable, profitable growth Partner of choice Preferred employer Investor/creditor top performer Respected and valued client GOM…
Management Team Formerly SVP of Production, E&P Services at Hess Corporation John Simon Previous SVP Americas/Africa, responsible for 50% of Hesss global production Chief Executive Officer Over 39 years of experience in the E&P…
Loading...
