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Annual Shareholder Meeting – Earthstone Energy Inc.

Earthstone Energy Inc. · Sep 25, 2013 · 35 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. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 1
    EARTHSTONE Energy, Inc. Annual Shareholder Meeting September 25, 2013
  2. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 2
    Company Presentation 2013 Overview / Background 2013 Accomplishments 2013 Financial Results Current Operations What Does The Future Look Like Summary Questions & Answers
  3. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 3
    2013 Overview Our Primary Operations are in: North Dakota Montana Southern Texas We are 87% Oil and 13% Natural Gas 9.5% Of Production from Federal Lands Partner-Operated Wells Generate 74% of Production
  4. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 4
    Company Presentation 2013 Overview / Background 2013 Accomplishments 2013 Financial Results Current Operations What Does The Future Look Like Summary Questions & Answers
  5. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 5
    2013 Accomplishments Operational Tempo on the Increase Participated in 29 Horizontal Wells Deployed 13.9M in Capital (8.8 in 2012) Generated Reserve Growth of 119% (BOE) Reserve Year Ended Increase Over Type 2013 2012 PDP…
  6. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 6
    FY 2014 -- So Far Operational Tempo Continues to Increase Deployed 4.64M in Capital in Q1 Brought 18 Wells on Production in Banks Commenced 8 Horizontal Banks Wells Drilled One Exploratory Well in Nebraska Drilled an…
  7. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 7
    Company Presentation 2013 Overview / Background 2013 Accomplishments 2013 Financial Results What Does The Future Look Like Summary Questions & Answers
  8. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 8
    Production Barrels and Mcf (Thousands) 25000 0
  9. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 9
    Gross Sales Revenue 14000000 12000000 Dollars (Millions) 10000000 8000000 6000000 4000000 2000000 0
  10. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 10
    Total G&A Expense 10 9 8 Millions 7 6 5 4 3 2 1 0
  11. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 11
    Depletion Increasing 10 Dollars Per BOE 5 Depletion per BOE 0
  12. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 12
    Depletion Increasing GAAP Accounting Explained in 10K Similar to Depreciation, But on a Units Of Production Basis (BOE) Reflects Higher Cost Basis of Newer Wells Lower Cost Basis of Legacy Wells Previous Price Volatility…
  13. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 13
    2013 Capital Investment 4000000 0
  14. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 14
    Reserves by Product 10 9 BOE (Thousands) 8 7 6 5 4 3 2 1 0
  15. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 15
    B O E (T h o u s a n d s ) Reserves by Category 10 9 8 7 6 5 4 3 2 1 0
  16. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 16
    Financial Overview Q1-14 ResultsIn the right direction BOE Production up 7% Gross Profit per BOE up 8% Gross Revenue up 6% Income from Operations up 15%
  17. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 17
    Financial Results Every Quarter Trending Upward 1000 Dollars (Thousands) B IT D A E c o m e Net In P r ofit Gross 0
  18. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 18
    Company Presentation 2013 Overview / Background 2013 Accomplishments 2013 Financial Results Current Operations What Does The Future Look Like Summary Questions & Answers
  19. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 19
    Banks Field
  20. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 20
    Current Operations Banks Field: 29 Wells Producing at 3-31-2013 Year End Contributed 35% of Total Production 18 New Wells on Production Since Year End 23 Wells Currently Being Drilled or Completed
  21. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 21
    Current Operations Banks Field Spacing Unit Ownership Spacing Unit Operator WI NRI or Well Banks 16-21 Statoil 3.39% 2.72% Beaux 18-19 Statoil 3.28% 2.59% Broderson 30-31 Statoil 4.94% 3.94% Cheryl 17-20 Statoil 2.64% 2.15% Enderud…
  22. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 22
    Current Operations Banks Field Spacing Unit Ownership Spacing Unit Operator WI NRI or Well Samson 29-32 Statoil 5.36% 4.29% Sax 25-36 Statoil 6.50% 5.13% Skarston 1-12 Statoil 2.28% 1.82% Topaz 20-17 Statoil 3.00% 2.40% A Johnson 12-1…
  23. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 23
    Current Operations Nebraska: Drilled Our First Permo-Penn Well Set Casing Completion Ongoing Recovered Some Oil Insufficient Quantity to Set Production Facilities Plan to Perforate Additional Interval Stimulate May Plug Well…
  24. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 24
    Current Operations Legacy South Texas Waterfloods: Contributed 15% of Total Production Last Year Drilled 1 Additional Injection Well New Texas Regulations Shut-In Wells Restoring Wells To Production - 100/Bbl. Insufficient Water…
  25. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 25
    Company Presentation 2013 Overview / Background 2013 Accomplishments 2013 Financial Results Current Operations What Does The Future Look Like Summary Questions & Answers
  26. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 26
    The Future Exploration Company Bulk Of Our Dollars Now Go Into Drilling. Several Years Of Drilling Ahead Of Us Banks Field, Indian Hill, Mondak. Legacy Montana Acreage Nebraska South Texas Waterfloods
  27. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 27
    The Future We Are in 24 Spacing Units in Banks Field Statoil is Drilling 6-7 Wells Per Spacing Unit We Claimed 76 PUDs at Year End. Expect to Convert 25% to PDPs This Year. We Have 39 Possibles Not Claimed as PUDs In…
  28. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 28
    The Future Nebraska: Approximately 30,000 Acres Approximately 70 Square Miles 3D Seismic 9 Seismically Defined Prospects Low Acreage Cost - Low Drilling Costs Relatively Friendly Regulatory Environment Expect to Drill at Least…
  29. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 29
    The Future Texas Waterflood: New Geological Analysis Field Discovered In 1931 Last Evaluated In 1985 Pre-Windows Computers/Tools Modern Computers - Geological Tools We Already Have New Field Interpretation We…
  30. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 30
    The Future Ambitious Goals for 2014 CapEx 17 Million BOE Sales 155,000 Reserves Convert 25% of PUDs to PDPs Drill at Least 1 Nebraska Well
  31. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 31
    The Future CapEx Funding Internal Cash Flow - Increasing Continued Use of Existing Debt Funding Equity Funding Enhance Corporate Capabilities/Structure Enlarge & Improve Our Financial Team Strengthen Our Technical…
  32. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 32
    Company Presentation 2013 Overview / Background 2013 Accomplishments 2013 Financial Results Current Operations What Does The Future Look Like Summary Questions & Answers
  33. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 33
    Summary We Substantially Accomplished Our 2013 Goals We Have Ambitious Goals for 2014 Our Main Focus is the Banks Field Encouraged by Nebraska Pleased by Potential of South Texas
  34. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 34
    Company Presentation 2013 Overview / Background 2013 Accomplishments 2013 Financial Results Current Operations What Does The Future Look Like Summary Questions & Answers
  35. Annual Shareholder Meeting – Earthstone Energy Inc. – slide 35
    EARTHSTONE Energy, Inc.

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