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September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc

Energy XXI Gulf Coast, Inc · Sep 29, 2015 · 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. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 1
    FY15 Year-End Conference Call September 29, 2015 NASDAQ: EXXI www.energyxxi.com
  2. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 2
    Image goes here Chairman, President & CEO JOHN D. SCHILLER 3
  3. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 3
    Conference Call Highlights Highlights Grand Isle Gathering System monetized for 245 million East Bay field divestiture, reduces P&A liability significantly Acquired assets from M21K Reduced LOE and G&A by 30% and 36%…
  4. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 4
    Image goes here Bruce Busmire, CFO FINANCIAL RESULTS 5
  5. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 5
    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 &…
  6. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 6
    Interest Expense Reduced by Over 32 Million Original Annual Interest Weighted Face Interest % Face Value Expense Price per Amount Gain on Debt Face Value Bond Value Expense Repurchased Repurchase Savings Bond Paid Extinguishment…
  7. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 7
    Liquidity Strong Cash Position September 24, 2015 MM Cash 106 Investments 450 Less: Bermuda Cash & Investments (34) Less: Restricted Cash (33) Total Cash at EGC 489 Credit Facility (350 EGC, 150 EPL) 500 Less: Drawn at EPL (150)…
  8. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 8
    Image goes here John Schiller, Chairman, President & CEO OPERATIONS UPDATE 9
  9. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 9
    Joint Venture: Monetizing Exploration Portfolio Joint Venture Brings in funding partner with a commitment to participate in an exploration program Portfolio mix of low and high risk exploration prospects Exploration Portfolio…
  10. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 10
    FY15 Production Flat Despite Capex Reductions FY15 Production by Month 70000 65000 Production (Boe/d) 60000 55000 50000 FY15 Average: 45000 58,900 BOE/d 40000 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15…
  11. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 11
    West Delta 30 Downtime Improvement WD 30 Avg. 8% DT Avg. 5% DT 14% 12% 10% 8% 6% 4% 2% 0% Feb Mar April May June July Aug Sept Oct Nov Dec Jan Feb Mar Apr May June Rig removed from field Fewer shut-ins due…
  12. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 12
    Increased Surveillance Saves Production Main Pass 61 B-1 BA-4B Sand 10,000 1,000 Gross Oil, BOPD Production lost due to Acid Job 100 migrating finds Pumped 10 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018…
  13. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 13
    Oil-Focused Program Drives Results Annual Production (Net MBOE/d) 58.9 54 - 59 17.1 44.1 45.0 43.1 14.9 13.6 34.6 14.8 11.2 57.5 21.8 41.8 19.4 7.1 30.5 30.1 8.0 28.3 23.4 14.7…
  14. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 14
    Image goes here Q&A 15
  15. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 15
    Operating Unit Cost Analysis Quarter Ended 6/30/14 9/30/14 12/31/14 3/31/15 6/30/15 Revenue (MM) 301.3 461.4 503.0 221.6 219.5 MBO/d 32.0 41.8 41.8 41.6 42.0 MBOE/d 46.1 58.6 57.9 60.0 59.3 NGL % (of oil volumes) 6.9% 7.7% 5.3% 6.8%…
  16. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 16
    EXXI Reserves Summary Oil NGL Gas Equivalent PV-10% Reserve category (MMBBL) (MMBBL) (MMBOE) (MMBOE) (millions) Proved developed producing 74 3 19 96 1,534 Proved developed non-producing 15 2 12 29 416 Proved undeveloped 41 2 15 58 884…
  17. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 17
    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…
  18. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 18
    Bonding Requirements Exemption 20 MBOE/d + book equity 2x P&A liability Leases never severed Original discoverer remains in record title New NTL being developed by BOEM Surety Bonds Capacity exists with current providers…
  19. September 2015 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 19
    20 Remaining 277 MM Bonds Placed July 2015 Total collateral posted 11 million East Bay Asset Sale Providing BOEM Coverage Letters of Credit Operated by Others M21K Existing Bonds in Place Gross Amount of P&A M21K…

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