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EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc

Energy XXI Gulf Coast, Inc · Aug 17, 2015 · 17 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. EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 1
    Investor Presentation August 2015 NASDAQ: EXXI www.energyxxi.com
  2. EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 2
    Company Overview Exchange: Ticker NASDAQ: EXXI Enterprise Value 4.5 Billion FY16 1Q Average Production To-Date 58 Mboe/d (71% Liquids) Proved Reserves (as of Dec. 31, 2014) 212 MMBOE Acreage 258 Blocks; 767,445 Net…
  3. EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 3
    FY16 Production Guidance Overview FY15 Actual FY16 Guidance Capital Spending (MM) 640 660 78% reduction 130 150 Oil Production (including NGLs) (MBbl/d) 41.8 Slight decrease 35 40 Total Production (Mboe/d) 58.9 In line with…
  4. EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 4
    FY16 and Beyond: Strategic Plan Focus on Base Production & Recompletions Optimize base production Focus on economical, low-risk recompletions Maintain Prudent Financial Discipline Continue to improve capital program Deliver…
  5. EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 5
    Operates 9 of the Largest GoM Shelf Oil Fields Rank Field Operator Cum Prod. (MMBO) 1 Bay Marchand Chevron 802 2 East Bay Whitney 675 3 West Delta 30 Energy XXI 582 4 Eugene Island 330* Fieldwood 438 5 Grand Isle 43 Fieldwood 374…
  6. EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 6
    FY15 Production Flat Despite Capex Reductions FY15 Production by Month 70000 65000 Production (Boe/d) 60000 55000 FY15 50000 Average: 58,900 45000 BOE/d 40000 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15…
  7. EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 7
    Continued Reduction of Cash Operating Expenses 30% reduction in LOE per BOE costs 32% G&A reduction post merger Lowered breakeven through cost reductions Lease Operating Expenses* 35 30 25 20 /BOE 15 10 5 0 FY14…
  8. EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 8
    Demonstrating Capital Efficiency in FY16 FY16 Capital Budget 130 - 150 Million Budget By Type Based on 50 oil price deck Focused on low-risk recompletions General & Holds year-over-year production Administrative Development & 17%…
  9. EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 9
    WD73 Production Record High West Delta 73 Proved Reserves 70 3.0 Example horizontal well Annual Production, MMBOE 60 2.5 Net Reserves, MMBOE 50 2.0 40 1.5 30 1.0 20 10 0.5 0 - YE2011 YE2012 YE2013 YE2014 Proved…
  10. EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 10
    Recompletions Deliver Record Production South Pass 78 Net Daily Production Currently 6,000 5,452 BOE/d 9 Recompletions online 9 5,500 8 1 Recompletion currently underway 5,000 1 Thru-tubing recompletion FY2016 7 5 4,500 6 4…
  11. EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 11
    Capital Efficient Recompletion Inventory Yearly Recompletions 59 3 Bayou Carlin 1 Viosca Knoll South 1 Marsh Island 40 West Area Delta 9 Grand 16/18 Isle 29 25 1 High Island 16 Main Pass Complex 20 South…
  12. EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 12
    Liquidity Strong Cash Position July 30, 2015 MM Cash 165 Investments 600 Less: Bermuda Cash & Investments (37) Less: Restricted Cash (31) Total Cash at EGC 696 Credit Facility (350 EGC, 150 EPL) 500 Less: Drawn at EPL (150) Less:…
  13. EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 13
    Leveraged to Oil Prices 10 Increase in Crude Pricing Yields Approximately 120 of EBITDA 1200 60 Revenue Production 1000 800 Mboe/d MM 600 55 400 200 0 50 50 Crude 60 Crude 70 Crude 14
  14. EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 14
    Investment Thesis Excellent assets, stable production and acreage held by production FY16 volumes in line with FY15 Capital budget focused on low-risk recompletions 30% reduction in LOE lowers cash costs per BOE Continue to…
  15. EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 15
    Contact Greg Smith Kim Pinyopusarerk Vice President, Investor Relations Investor Relations Manager Energy XXI Energy XXI 1021 Main Street, Suite 2626 1021 Main Street, Suite 2626 Houston, Texas 77002 Houston, Texas 77002 713 351-3149 713…
  16. EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 16
    Crude Hedge Profile 30 LLS 3-ways 25 LLS Collar 20 WTI Collar Mbbl/d 15 10 5 0 Aug-Dec15 Cal16 Aug Dec 15 Cal 16 Subfloor Floor Ceiling Subfloor Floor Ceiling WTI Put WTI Collar 75.00 85.00 51.43 74.70…
  17. EnerCom The Oil and Gas Conference – Energy XXI Gulf Coast, Inc – slide 17
    Operating Unit Cost Analysis Quarter Ended 3/31/14 6/30/14 9/30/14 12/31/14 3/31/15 Revenue (MM) 285.2 324.1 403.2 357.8 260.2 MBO/d 28.4 32.0 41.8 41.8 41.6 MBOE/d 42.3 46.1 58.6 57.9 60.0 NGL % (of oil volumes) 8.8% 6.9% 7.7% 5.3%…

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