Lonestar Resources, Ltd. Cowen & Co. 2015 Ultimate Energy Conference
Company Profile Share Price History Lonestar is a rapidly growing E&P company 35.00 100.0 focused on the Eagle Ford Shale 30.00 Drilling and acquisition capital concentrated in 80.0 the crude oil window of the Eagle Ford Shale…
Lonestars Growth History Current Team In Place Since 2012 Company Originally Funded by Ecofin, UK-based Private Equity Group Assembled Team of Senior Personnel from Encore, Pioneer, Denbury, Approach. Focused on Developing…
3Q15 Headlines- Continued Execution 2015 Drilling Budget Accomplishing Key Objectives: 3Q15 Production by Product 1- Achieve Production Growth of 36 to 41% to 6,100 -6,300 BOEPD, Grow Volumes Sequentially Over 2015 Production…
Quarterly Financial Summary Quarterly Production Total Company Quarterly Production Total Company 8,000 8,000 7,000 7,000 6,000 6,000 Production (BOEPD) Production (BOEPD) 5,000 5,000 4,000 4,000 3,000 3,000 2,000…
Eagle Ford Shale Growth and Development Plan
High Caliber Management Team Executive Previous Experience Biography Over 28 years experience in oil and gas finance Frank D. Bracken, III Previously Managing Director at Jefferies LLC, where he led 5 billion in oil and gas…
Lonestars Track Record of Rapid Growth Net Acreage- Eagle Ford Shale Trend Reserves (MMBOE)1 35,000 50 30,000 40 25,000 30 20,000 15,000 20 10,000 10 5,000 0 0 Dec-11 Dec-12 Dec-13 Dec-14 Dec-11 Dec-12 Dec-13 Dec-14 Proved…
Portfolio Focused on the Eagle Ford Total Eagle Ford Engineered Acreage Net Acres 35,487 Non-Engineered Acreage Gross Engineered Locations 143 Additional Locations 70 Avg. W.I. 92% Eastern Net Acres 1 10,730 Gross Engineered…
Lonestars Footprint Across The Eagle Ford Is Significant 14 12 10 Counties With Completions 8 6 4 2 0 11
Revenue/BOE vs % Oil Production 36.00 LNREF 34.00 32.00 30.00 Revenue / BOE 28.00 26.00 24.00 22.00 20.00 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% % Oil Production Note: Revenue/BOE from 3Q15 (unhedged).…
Production Cost/BOE vs % Oil Production 20.00 18.00 16.00 14.00 Production Costs / BOE 12.00 LNREF 10.00 8.00 6.00 4.00 2.00 0.00 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% % Oil Production Note:…
Unhedged Field Netback/BOE vs % Oil Production 26.00 LNREF 24.00 22.00 Field Netback / BOE 20.00 18.00 16.00 14.00 12.00 10.00 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% % Oil Production Note: Field…
Lonestar Valuation Relative to its Peers 14.0x 12.0x Lonestar 10.0x TEV/ EBITDAX 8.0x 6.0x 4.0x Lonestar 2.0x 0.0x 0.00 5.00 10.00 15.00 20.00 25.00 30.00 35.00 40.00 TEV / Proved Reserves Note: Data as of…
Eagle Ford Shale Asset Overview
Western Region Summary Overview Lonestars Properties & Offset Wells Gross Leasehold 14,440 Net Leasehold 13,199 % HBP 63% Engineered Acreage Top EPS 6,000' to 9,250' Lateral Lengths 4,000' to 8,000' Non-Engineered Acreage Assumed…
Western Region- Burns Ranch Area Overview Gross Leasehold 3,697 Net Leasehold 2,905 % HBP 70% Top EPS 7,300' to 8,000' Assumed Spacing 500' WI% 79% NRI % 59% Engineered Locations Category Length PDP 0 5,000' 1 PUD 6 6,000' 2…
Burns Ranch Unit 1H-3H Benchmarking Burns Ranch Locator Map Burns Ranch Eagle Ford Offset Cumulative To Date Burns Ranch Well Highlights Burns Ranch Eagle Ford Offset Monthly BOEPD To Date Lonestar studied 113 offset wells…
Western Region- Beall Ranch Overview Gross Leasehold 2,390 Net Leasehold 2,335 % HBP 100% Top EPS 7,000' to 7,300' Assumed Spacing 500' WI% 98% NRI % 73% Engineered Locations Category Length PDP 18 5,000' 11 PUD 17 6,000' 5 PROB…
2014 and 2015 Targeting Comparison Green windows show the best rock to initiate the frac based on Poissons Ratio and Youngs Modulus. 2014 Top of Target (25+) 2015 Top of Target (11+) 2015 Bottom of Target (11-) 2014…
3D Visual Between Upper and Lower Limits Looking from the South to the North 26H, 27H, 28H wells are 99% in the new 25 target window 22
Better Targeting Yielding Better Productivity Ranger Beall Ranch - Production Per 1,000 Feet 200 12,000 180 11,000 10,000 160 9,000 140 8,000 Cum. bbls / 1,000 FT BOPD / 1,000 FT 120 7,000 100 6,000 80 2015 5,000…
Western Region- Horned Frog Overview Gross Leasehold 4,402 Net Leasehold 4,063 % HBP 0% Top EPS 8,750' to 9,250' Assumed Spacing 700' WI% 92% NRI % 72% Non-engineered Locations Category Length PDP 0 5,000' 0 PUD 2 6,000' 0 PROB…
Lonestar Is Well-Positioned In Brazos County Apaches Area A Wildcat Source: Apache Corporation August Investor Presentation and Company data 30
Wildcat- Offset Well Success Apache Walker 1H- 1,897 BOEPD Wildcat Apache Walker 3H- 1,973 BOEPD Area A Reserve Categories Eagle Ford producer Apache Rae 3H- 1,587 BOEPD Eagle Ford location Apache Rae 4H- 1,520 BOEPD Proved…
Conventional Assets Stability & Free Cash Flow
Conventional Assets 3.5 MMBOE- Proved Reserves 1 79% Crude Oil 11% of Lonestars Total Proved Reserves 645 BOEPD- 3Q15 Production North Texas 57% Crude Oil & NGLs 10% of Lonestars Total Production Long-Lived Reserves with Low…
2015 Guidance Average Daily Production Results & Guidance 2015 Eagle Ford Drilling Budget- 74 to 83 million 6,500 16 gross / 14.2 net wells 6,000 Negligible spending on Conventional Assets, similar to 2014 5,500 Goal to…
High Caliber Management Team (Contd) Executive Previous Experience Biography Engineer with 13 years of experience in drilling and completions Joe Young Positions of increasing responsibility at Schlumberger Manager Drilling &…
Lonestars Hedges Are Among Highest of its Peers 90.00 Lonestar 80.00 Avgerage Price (/bbl) 70.00 60.00 50.00 40.00 30.00 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% % Of Oil Hedged- 2016 Note: Data as of…
EBITDA Assumptions EBITDA estimates are based on the following assumptions: Production estimates as set out in this presentation. The total number of planned wells at each asset is consistent with assumptions contained in the…
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