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February 2016 Investor Presentation – Sanchez Energy Corp

Sanchez Energy Corp · Feb 25, 2016 · 30 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. February 2016 Investor Presentation – Sanchez Energy Corp – slide 1
    Results Driven. Manufacturing Focused. Corporate Presentation February 2016 www.sanchezenergycorp.com
  2. February 2016 Investor Presentation – Sanchez Energy Corp – slide 2
    Sanchez Energy Overview Eagle Ford Shale Market Cap (1) 169 MM (1) Enterprise Value 1,749 MM Net Acreage: 200,000 acres (2) 1P Reserves: 128 MMBoe (2) Avg. 4Q 2015 Production: 58,115 Boe/d Positioned to thrive in a period of…
  3. February 2016 Investor Presentation – Sanchez Energy Corp – slide 3
    Eagle Ford Shale Position SN Position Summary(1) Net Acres 200,000 4Q15 Avg.Production (Boe/d) 58,115 Operated Rigs 2 NonOperated Rigs 0 Gross Producing Wells 621 Hausser Wycross Alexander Ranch 4 1. As of…
  4. February 2016 Investor Presentation – Sanchez Energy Corp – slide 4
    Transformational Growth At IPO Today (12/31/11) (12/31/15) Production 609 Boe/d 95x 58,115 Boe/d(1) Proved Reserves 6.7 MMBoe 14% PD 19x 128 MMBoe 51% PD PV10 152 million 3.9x 594 million (2) LTM Revenue 15 million 32x…
  5. February 2016 Investor Presentation – Sanchez Energy Corp – slide 5
    Delivering Strong Results Reserves by Category (12/31/15) Reserves by Product Mix (12/31/15) CAGR from 2011: 109% 160 PD PUD 140 135 128 120 NGL 28.8% 100 52% Oil 40.6% 49% 80 Gas 30.6% 59 60 40 58% 21 48% 51% 20 7 82% 42% 0 86%…
  6. February 2016 Investor Presentation – Sanchez Energy Corp – slide 6
    Reduction in 2016 Upstream Capital Guidance 2016 Capital Program represents an approximate 60% planned reduction in spending as compared to 2015 while expected to maintain flat production 2016 CAPITAL BUDGET Eagle Ford Operated…
  7. February 2016 Investor Presentation – Sanchez Energy Corp – slide 7
    2016 Guidance Summary INTERNAL USE ONLY Expected 2016 production to range between 48,000 and 52,000 Boe/d and expected 1Q16 production to range between 48,000 and 52,000 Boe/d Subsequent quarterly production will fluctuate due to…
  8. February 2016 Investor Presentation – Sanchez Energy Corp – slide 8
    2016 Detailed Production Expense Guidance INTERNAL USE ONLY SN received 345 Million in cash when the Western Catarina Midstream sale / leaseback closed in October 2015 As part of that transaction, SN recognized an estimated 75…
  9. February 2016 Investor Presentation – Sanchez Energy Corp – slide 9
    Operations A Manufacturing Transformation 2016 Sanchez Energy Corporation
  10. February 2016 Investor Presentation – Sanchez Energy Corp – slide 10
    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…
  11. February 2016 Investor Presentation – Sanchez Energy Corp – slide 11
    2016 Capital and Production Update INTERNAL USE ONLY Focus on high rate of return drilling areas and continued delineation of the Cotulla and Catarina areas of the Eagle Ford SN expects to execute a 2016 capital plan between 200 250…
  12. February 2016 Investor Presentation – Sanchez Energy Corp – slide 12
    Cost Structure as Compared to Eagle Ford Peers 9,000 10.0 Eagle Ford Company Disclosed Drilling and Completions Cost (MM) Average Lateral Length 8,000 9.0 7,000 8.0 Average Lateral Length (Ft) 6,000 7.0 5,000 6.0…
  13. February 2016 Investor Presentation – Sanchez Energy Corp – slide 13
    Cost Execution Catarina INTERNAL USE ONLY 7.4 MM Lift 15% Facilities Sustainable Half of Process & Design Savings 2015 Cost Savings are Drilling expected 12% to be Sustainable Unit Cost Sustainable Savings…
  14. February 2016 Investor Presentation – Sanchez Energy Corp – slide 14
    Asset Development 2016 Sanchez Energy Corporation
  15. February 2016 Investor Presentation – Sanchez Energy Corp – slide 15
    2016 Focus on High Rate of Return Areas SN 2016 Development is expected to largely focus on the three areas below; Cotulla and South Central Catarina are newly emerging areas, providing outstanding returns, that were not valued by SN…
  16. February 2016 Investor Presentation – Sanchez Energy Corp – slide 16
    Catarina Overview INTERNAL USE ONLY Upper Eagle Ford 150+ Potential Locations 7 wells in stacked pilots drilled to date High oil yields of 250 Bbl/MMcf Middle Eagle Ford 500+ potential Locations Large Stacked Pay Application…
  17. February 2016 Investor Presentation – Sanchez Energy Corp – slide 17
    Maximizing Catarina Hydrocarbon Recovery INTERNAL USE ONLY SN Development & Appraisal Plan Results in Potential for Significantly Increased Value Western Western South Central Eastern Development Vertical Appraisal Exploration…
  18. February 2016 Investor Presentation – Sanchez Energy Corp – slide 18
    Western Catarina Development INTERNAL USE ONLY Mix of LEF & MEF infill locations depending upon prior well penetration Stacking in LEF and MEF for step outs Increase in type curve from 600 Mboe to 750 Mboe Eastern limit being…
  19. February 2016 Investor Presentation – Sanchez Energy Corp – slide 19
    South Central Catarina INTERNAL USE ONLY Excellent rates and projected EURs Unvalued at acquisition Stacking in LEF to MEF Southern rim transition from West to East Catarina Q4 2015 / 2016 Appraisal and Development Focus 200+…
  20. February 2016 Investor Presentation – Sanchez Energy Corp – slide 20
    Maverick Regional INTERNAL USE ONLY Eagle Ford high porosity & oil saturation unlocked through completion design 2016 Appraisal focus 150+ well inventory MAVERICK IP (Bbl/d) 473 Oil Initial Decline (%) 68.5% Maverick…
  21. February 2016 Investor Presentation – Sanchez Energy Corp – slide 21
    Financial Highlights 2016 Sanchez Energy Corporation
  22. February 2016 Investor Presentation – Sanchez Energy Corp – slide 22
    Conservative Financial Strategy INTERNAL USE ONLY SN has worked diligently to bolster liquidity and ensure development funding for the foreseeable future(1) 2016 capital program expected to be fully funded with FCF and cash on hand…
  23. February 2016 Investor Presentation – Sanchez Energy Corp – slide 23
    Extended Debt Maturity Runway INTERNAL USE ONLY No bonds maturing for the next 5 years Bank revolver currently undrawn Robust covenant headroom High Yield has no financial maintenance covenants Revolver financial maintenance…
  24. February 2016 Investor Presentation – Sanchez Energy Corp – slide 24
    Hedging Effect on 2016 Revenue SN 2016 Revenue Commodity Price Sensitivity SN 2016 % Hedged Revenue Robust hedging expected to mitigate 2016 revenue expected to be the potential impact of commodity comprised of 82% hedged revenue;…
  25. February 2016 Investor Presentation – Sanchez Energy Corp – slide 25
    Summary & Highlights INTERNAL USE ONLY 200,000 net acres throughout the Eagle Ford shale with 3,000+ drilling locations Strong Asset Base Increased average EURs by over 40% from 2014 (1) 2015 Production of 52,500 Boe/d, exceeding…
  26. February 2016 Investor Presentation – Sanchez Energy Corp – slide 26
    Appendix 2016 Sanchez Energy Corporation
  27. February 2016 Investor Presentation – Sanchez Energy Corp – slide 27
    NOL Rights Plan SN had a 765 million Net Operating Loss as of 12/31/15 Valuable asset since NOL can offset future income taxes Significant changes in equity ownership could trigger IRS limitations on future NOL usage Particularly…
  28. February 2016 Investor Presentation – Sanchez Energy Corp – slide 28
    Capitalization Summary INTERNAL USE ONLY Revolving credit facility (due June 2019) 425 million borrowing base with an elected commitment of 300 million and an interest rate of LIBOR + 1.50% 2.50% as of 01/25/16 Financial Maintenance…
  29. February 2016 Investor Presentation – Sanchez Energy Corp – slide 29
    Hedge Summary As Of 12/31/15 INTERNAL USE ONLY Hedge Summary as of 12/31/2015 Daily Volume Commodity Instrument Period (Bbls / MMBtu) Average Price Oil Swaps January 1 December 31, 2016 7,000 70.11 WTI Swap Oil Puts January 1…
  30. February 2016 Investor Presentation – Sanchez Energy Corp – slide 30
    NonGAAP Reconciliation and Measures Reconciliation of Net Income (Loss) To Reconciliation of PV10 To Adjusted EBITDA (M) Standardized Measure (MM) Twelve Months Ended December 31, 2015 Net income (loss) (1,454,629) Year Ended…

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