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Fiscal 2016 First Quarter Earnings Conference Call – Energy XXI Gulf Coast, Inc

Energy XXI Gulf Coast, Inc · Nov 9, 2015 · 16 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. Fiscal 2016 First Quarter Earnings Conference Call – Energy XXI Gulf Coast, Inc – slide 1
    Fiscal 2016 First Quarter Earnings Conference Call November 9, 2015 NASDAQ: EXXI www.energyxxi.com
  2. Fiscal 2016 First Quarter Earnings Conference Call – Energy XXI Gulf Coast, Inc – slide 2
    Image goes here President & CEO JOHN D. SCHILLER 3
  3. Fiscal 2016 First Quarter Earnings Conference Call – Energy XXI Gulf Coast, Inc – slide 3
    First Quarter 2016 Highlights Maintained Stable Production Average net production of 58,900 BOE/d Average net oil production higher than forecasted at 42,200 Bbl/d Continued Cost Reductions Total LOE reduced 34% YOY, or 48 million…
  4. Fiscal 2016 First Quarter Earnings Conference Call – Energy XXI Gulf Coast, Inc – slide 4
    Image goes here Bruce Busmire, CFO FINANCIAL RESULTS 5
  5. Fiscal 2016 First Quarter Earnings Conference Call – Energy XXI Gulf Coast, Inc – slide 5
    Operating Unit Cost Analysis Quarter Ended 9/30/14 12/31/14 3/31/15 6/30/15 9/30/15 Revenue (MM) 461.4 503.0 221.6 219.5 257.8 MBO/d 41.8 41.8 41.6 42.0 42.2 MBOE/d 58.6 57.9 60.0 59.3 58.9 NGL % (of oil volumes) 7.7% 5.3% 6.8%…
  6. Fiscal 2016 First Quarter Earnings Conference Call – Energy XXI Gulf Coast, Inc – slide 6
    Interest Expense Reduced by Over 65 Million Original Annual Interest Weighted Face Interest % Face Value Expense Price per Amount Gain on Debt Face Value Bond Value Expense Repurchased Repurchased Savings Bond Paid Extinguishment…
  7. Fiscal 2016 First Quarter Earnings Conference Call – Energy XXI Gulf Coast, Inc – slide 7
    Liquidity Strong Cash Position October 31, 2015 MM Cash 121 Investments 310 Less: Bermuda Cash & Investments (34) Less: Restricted Cash (43) Total Cash at EGC 354 Credit Facility (350 EGC, 150 EPL) 500 Less: Drawn at EPL (150)…
  8. Fiscal 2016 First Quarter Earnings Conference Call – Energy XXI Gulf Coast, Inc – slide 8
    Image goes here John Schiller, President & CEO OPERATIONS UPDATE 9
  9. Fiscal 2016 First Quarter Earnings Conference Call – Energy XXI Gulf Coast, Inc – slide 9
    Production Flat Despite Capex Reductions Net Production by Month 70000 65000 Production (Boe/d) 60000 55000 50000 FY15 FY16 Q1 Average: Average: 45000 58,900 58,900 BOE/d BOE/d 40000 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14…
  10. Fiscal 2016 First Quarter Earnings Conference Call – Energy XXI Gulf Coast, Inc – slide 10
    Downtime by Month 11
  11. Fiscal 2016 First Quarter Earnings Conference Call – Energy XXI Gulf Coast, Inc – slide 11
    Image goes here Q&A 12
  12. Fiscal 2016 First Quarter Earnings Conference Call – Energy XXI Gulf Coast, Inc – slide 12
    Crude Hedge Profile 30 LLS 3-ways 25 LLS Collar 20 WTI Collar Mbbl/d 15 10 5 0 Aug-Dec15 Nov-Dec 15 Cal 16 Cal16 Nov Dec 15 Cal 16 Subfloor Floor Ceiling Subfloor Floor Ceiling WTI Put WTI Collar 75.00…
  13. Fiscal 2016 First Quarter Earnings Conference Call – Energy XXI Gulf Coast, Inc – slide 13
    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…
  14. Fiscal 2016 First Quarter Earnings Conference Call – Energy XXI Gulf Coast, Inc – slide 14
    15 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…
  15. Fiscal 2016 First Quarter Earnings Conference Call – Energy XXI Gulf Coast, Inc – slide 15
    Contact Greg Smith David Griffith Vice President, Investor Relations Associate, Investor Relations Energy XXI Energy XXI 1021 Main Street, Suite 2626 1021 Main Street, Suite 2626 Houston, Texas 77002 Houston, Texas 77002 (713) 351-3149…
  16. Fiscal 2016 First Quarter Earnings Conference Call – Energy XXI Gulf Coast, Inc – slide 16
    Reconciliation of Adjusted EBITDA (non-GAAP) (M) 9/30/2015 9/30/2014 Net Income (Loss) (573,392) 27,190 Interest expense, net 102,724 65,312 Depreciation, depletion and amortization 124,024 159,140 Income tax expense - 16,649…

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