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November 2015 Corporate Presentation – Sanchez Energy Corp

Sanchez Energy Corp · Nov 9, 2015 · 32 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. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 1
    Results Driven. Manufacturing Focused. Corporate Presentation November 2015 www.sanchezenergycorp.com
  2. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 2
    Sanchez Energy Overview Eagle Ford Shale Market Cap (1) 424 MM (1) Enterprise Value 2,231 MM Net Acreage: 207,000 acres (2) 1P Reserves: 130 MMBoe (3) Avg. 3Q 2015 Production: 52,844 Boe/d Positioned to thrive in a period of…
  3. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 3
    Eagle Ford Shale Position SN Position Summary Net Acres 207,000 3Q15 Production (Boe/d) 52,844 Operated Rigs 2 NonOperated Rigs 0 Gross Producing Wells 592 Hausser Wycross Alexander Ranch 4 2015 Sanchez Energy…
  4. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 4
    Recent Midstream Transactions 2015 Sanchez Energy Corporation
  5. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 5
    Western Catarina Midstream Transaction Summary Seller: Sanchez Energy Corporation (SN) and its subsidiary SN Catarina, LLC Buyer: Sanchez Production Partners LP (SPP) Purchase Price: 345 million Close Date: October 14, 2015…
  6. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 6
    Western Catarina Midstream Transaction Highlights Provides additional capital that can be deployed to core operations without the need to access the Capital Markets Sale and gathering agreement allows SN to benefit from the use of…
  7. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 7
    Targa Midstream Joint Ventures Summary SN and its subsidiaries will invest approximately 115 million and enter multiple contracts with Targa Resources Partners LP (NYSE:NGLS) (TRP) to create these midstream joint ventures Gathering…
  8. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 8
    Targa Midstream JV Overview Modern plant design delivering better liquids yields and lower processing fees Ability to take product inkind and reject ethane Marketing Advantages Improvements to existing marketing terms Flexibility to…
  9. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 9
    Operations A Manufacturing Transformation 2015 Sanchez Energy Corporation
  10. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 10
    Transformational Growth At IPO Today (12/31/11) (9/30/15) Production 609 Boe/d 87x 52,844 Boe/d(1) 6.7 MMBoe 19x 130 MMBoe (2) Proved Reserves 14% PD 46% PD (2) PV10 152 million 13x 1,923 million (3) LTM Revenue 15 million…
  11. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 11
    Delivering Strong Results Reserves by Category (12/31/14) (1) Reserves by Product Mix (12/31/14) (1) 150 PD PUD 130 125 NGL 26% 100 54% Oil 48% MMBoe 75 59 50 Gas 26% 58% 25 21 46% 7 82% 42% 86% 30 0 12/31/11…
  12. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 12
    Low Cost Operator With Sustained Cost Reductions Total Cash Operating Cost Including Interest & Preferred Dividends (/Boe) Cash G&A LOE Taxes Interest & Dividends 50.00 45.06 45.00 4.78 41.46 40.00 4.72 35.00 9.37 4.53…
  13. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 13
    2015 Capital Plan: Focus On Liquidity SN Maintains 2015 capital plan range of 550 600 million while increasing production guidance Focus will be on high rate of return projects while maximizing future potential Land position mostly…
  14. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 14
    3Q15 Guidance Expected 4Q 2015 production to range between 48,000 and 52,000 Boe/d, an increase of 14% over 4Q 2014 reported production at the midpoint of guidance Subsequent quarterly production will fluctuate due to the effects of…
  15. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 15
    Catarina Overview Western Catarina (43,000 net acres) Early results support stacked pay development in three Eagle Ford benches; Upper, Middle, & Lower Eastern Catarina Eagle Ford Central Well performance currently exceeding…
  16. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 16
    Driving Cost Reductions in Catarina Operational Efficiencies Realized Driving Further Competitive Advantage Reductions in Catarina drilling cycle times has Optimized fluids & wellbore design translated into substantial cost savings…
  17. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 17
    Western Catarina Well Results Initial Middle and Upper Eagle Ford wells in Catarina have continued to exhibit strong performance and have sustained rates above the initial Lower Eagle Ford Type Curve SN Operated wells average…
  18. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 18
    Completions Optimization Yields Superior Results SN has realized strong production results as compared to offset wells results in Catarina e.g. Piloncillo D20 pad as depicted below was drilled by the previous operator and completed by…
  19. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 19
    Vertical Expansion of Catarina Development Upper Eagle Ford 150+ potential Locations Additional potential across ranch Early rates in line with LEF Type Curve Middle Eagle Ford 500+ potential Locations Large Stacked Pay…
  20. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 20
    Maximizing Catarina Hydrocarbon Recovery SN Development Plan results in potential for significantly increased Hydrocarbon Recovery Per Acre Overall SN Development Impact Previous Downhole Design Development Plan Impact…
  21. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 21
    Financial Highlights 2015 Sanchez Energy Corporation
  22. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 22
    Conservative Financial Strategy Solid Financial Position and Liquidity to fund future development 842 million pro forma liquidity as of 9/30/15(1) No outstanding debt maturities until 2021 Continue to maintain a balanced capital…
  23. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 23
    Capitalization, Credit Facility & Debt Maturity Pro forma liquidity of 842 million as of Debt Maturity Summary ( millions) 9/30/15 1,400 7.75% Senior Notes 6.125% Senior Notes 1,150 196 million in cash 1,200 1,000 345 million in net…
  24. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 24
    Hedge Strategy Hedge Volume: At September 30, 2015, 49% of estimated fourth quarter 2015 volume(1) hedged (82% oil and 62% gas) Hedge Book Valuation(2): 139 million at 10/1/15 Put Purchase: April 27, 2015, SN purchased 11,000 Bbl/d…
  25. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 25
    Summary Investment Highlights Commodity Cycle Focused on highquality, lowcost oil and condensate resource play Eagle Ford Focus High grading drilling program, reducing costs, and realizing higher well performance than initial estimates…
  26. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 26
    Appendix 2015 Sanchez Energy Corporation
  27. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 27
    TMS Acreage Position and Activity 66,000 net acre position in the core of the TMS Contiguous blocky acreage with 3+ years of average remaining lease term Goodrich CMR/Foster Creek 31 Goodrich Goodrich 22H1 Crosby 121H CMR /…
  28. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 28
    Capitalization Summary Revolving credit facility (due 2019) 550 MM borrowing base with an elected commitment of 300 million and an interest rate of LIBOR + 1.50% 2.50% Financial Maintenance Covenants: Maximum Senior Secured Debt to…
  29. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 29
    Hedge Summary As Of 9/30/15 30 2015 Sanchez Energy Corporation
  30. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 30
    Catarina Midstream Divestiture 2015 Sanchez Energy Corporation
  31. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 31
    Gathering Contract Effective upon closing of the Western Catarina Midstream Divestiture Western Catarina acreage is dedicated to gathering through the divested assets 15year term with potential 5year renewal periods Fixed rates for…
  32. November 2015 Corporate Presentation – Sanchez Energy Corp – slide 32
    SN LOE Guidance Lease Operating Expenses (LOE) (/BOE (1)) Actuals Guidance Q1 2015 Q2 2015 Q3 2015 4Q 2015(2) 8.39 7.27 8.30 9.75 10.75 4Q 2015 Guidance(2) 9.75 10.75 LOE Guidance (/BOE(1)) 2016 Guidance(2) 9.75 10.75…

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