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3Q 2015 Investor Update – EP Energy Corp

EP Energy Corp · Oct 29, 2015 · 18 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. 3Q 2015 Investor Update – EP Energy Corp – slide 1
    Third Quarter 2015 Investor Update October 29, 2015
  2. 3Q 2015 Investor Update – EP Energy Corp – slide 2
    3Q15 Highlights Programs delivered improved well results Step-change performance in Wolfcamp Improved completion design enhanced Haynesville Operational Increased oil volumes - up 9% from 3Q14 Excellence Successfully closed Eagle…
  3. 3Q 2015 Investor Update – EP Energy Corp – slide 3
    3Q15 Operations Summary (MM) Equivalent Natural Completed Production Oil NGLs Gas Eagle Ford Wolfcamp Program Wells (MBoe/d) (MBbls/d) (MBbls/d) (MMcf/d) 140 67 Eagle Ford 24 61.4 39.9 10.8 65 Altamont 34 Wolfcamp 16 21.1 9.5…
  4. 3Q 2015 Investor Update – EP Energy Corp – slide 4
    Rapidly Improving Cost Structure Gross Well Cost1 (MM) Total Company LOE (/BOE) Eagle Ford 7.2 6.0 5.0 5.12 FY'14 2015 YTD Best YTD Well 4.25 3Q'14 3Q'15 Wolfcamp 6.2 5.3 4.7 Total Company Production (MBoe/d)…
  5. 3Q 2015 Investor Update – EP Energy Corp – slide 5
    Eagle Ford: Solid Execution With Fewer Completions Averaged 3 rigs and 2 stim crews in 3Q Oil Production (MBbls/d) 37.8 38.0 41.5 39.9 Oil production up 11% (3Q14 to 3Q15) 35.9 31.6 33.7 Improved IP rates 27.3 26.1 Optimize…
  6. 3Q 2015 Investor Update – EP Energy Corp – slide 6
    Wolfcamp: Improved Well Designs Enhance Returns Oil Production (MBbls/d) 9.4 9.2 9.5 9.5 Averaged 1 rig and 1 stim crew in 3Q 9.0 7.2 7.9 Increased well completions 5.5 16 wells in 3Q15 vs. 9 wells in 2Q15 4.3 Maintained…
  7. 3Q 2015 Investor Update – EP Energy Corp – slide 7
    Wolfcamp: Continued Improvement With Top Tier Results Top tier performance in Midland Basin Significantly improved EUR 23 Results for Midland Basin counties; Midland, Glasscock, Upton, Reagan, Irion, Crockett, Schleicher 120,000…
  8. 3Q 2015 Investor Update – EP Energy Corp – slide 8
    Altamont: Execution Drives Improved Efficiencies Averaged 1 rig and 0.5 stim crew Oil Production 7 wells completed (MBbls/d) 12.8 12.5 12.9 12.7 Oil production up 8% (3Q14 to 3Q15) 11.8 11.7 Completed another all-time best…
  9. 3Q 2015 Investor Update – EP Energy Corp – slide 9
    Haynesville: 2015 Program Enhancements 148 Gas Production (MMcf/d) 125 Excellent well level returns with break-even 112 price below 2 per MMBtu1 98 89 85 85 76 2015 test program 71 Completed two 4,500 laterals and four…
  10. 3Q 2015 Investor Update – EP Energy Corp – slide 10
    Financial Results 11
  11. 3Q 2015 Investor Update – EP Energy Corp – slide 11
    3Q15 Financial Highlights 446MM Adjusted EBITDAX up 6% from 3Q14 0.26 Adjusted EPS and 1.50 DCF per share Adjusted unit cash operating costs down 32% from 3Q14 42.38 per barrel adjusted unit cash margins Continued financial…
  12. 3Q 2015 Investor Update – EP Energy Corp – slide 12
    Continued Lower Cash Costs /Boe Margin / Cost 3Q 2014 3Q 2015 Variance Adjusted Cash Operating Costs Per Unit Unit revenue 60.39 53.97 11% unfavorable 12.85 LOE (5.12) (4.25) 17% favorable 12.00 0.34 11.44 Adjusted net G&A (3.94)…
  13. 3Q 2015 Investor Update – EP Energy Corp – slide 13
    Multi-year Hedge Program Provides Cash Flow Stability 2015 2016 2017 Oil Fixed Price Hedges Fixed Price Swap Oil volumes (MMBbls)1 5.6 18.0 5.1 Average floor price (/Bbl) 91.11 80.29 65.87 Percent hedged based on midpoint of…
  14. 3Q 2015 Investor Update – EP Energy Corp – slide 14
    Multiple Options To Improve Financial Position Managing cash flow and capex Sector-leading hedge position Realizing meaningfully lower costs 2H15 expect 150MM positive free cash flow Maintaining strong liquidity 1.6 billion…
  15. 3Q 2015 Investor Update – EP Energy Corp – slide 15
    Strengthening EPE Excellent financial and operational results Continued to improve asset programs Reduced cost, maintained margins and improved well returns Focused on further improvements to balance sheet Well positioned for…
  16. 3Q 2015 Investor Update – EP Energy Corp – slide 16
    Third Quarter 2015 Investor Update October 29, 2015
  17. 3Q 2015 Investor Update – EP Energy Corp – slide 17
    On Track To Deliver 2015 Outlook Current Guidance Capital program ( billion) 1.2 1.25 Acquisition cost ( billion) 0.1 Total production (MBoe/d) 102.25 110.25 Oil production (MBbls/d) 60.5 63.5 Average drilling rigs Rest of 2015…
  18. 3Q 2015 Investor Update – EP Energy Corp – slide 18
    2015 Completed Wells By Quarter Program 1Q 2Q 3Q 4QE FY Eagle Ford 38 42 24 11 115 Wolfcamp 10 9 16 - 35 Altamont 9 12 7 1 29 Haynesville - - 2 2 4 Total company 57 63 49 14 183 20

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