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Q4 2015 Investor Presentation – EP Energy Corp

EP Energy Corp · Feb 19, 2016 · 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. Q4 2015 Investor Presentation – EP Energy Corp – slide 1
    2015 Results and 2016 Outlook February 19, 2016
  2. Q4 2015 Investor Presentation – EP Energy Corp – slide 2
    Solid 2015 Execution Delivered on 2015 goals New well completions in-line with planned activity levels Reduced capital and cash costs beat expectations Grew production from 2014 oil up 10%, equivalents up 12% Improved asset quality…
  3. Q4 2015 Investor Presentation – EP Energy Corp – slide 3
    Delivered On FY 2015 Expectations 2015 Original 2015 Updated Guidance Guidance 2015 Results Total production (MBoe/d) 94.5 109.5 102.25 110.25 109.7 Oil production (MBbls/d) 56 64 60.5 63.5 60.5 Capital program ( billion)1 1.2 1.3 1.2…
  4. Q4 2015 Investor Presentation – EP Energy Corp – slide 4
    4Q Operations Summary (MM) Q1 3Q 1Q Q3 Average Completed Completed Equivalent Natural Wells Wells Production Oil NGLs Gas Eagle Ford Wolfcamp Program (MBoe/d) (MBbls/d) (MBbls/d) (MMcf/d) 102 33 Eagle Ford 35 14 56.2 36.5 10.1 58…
  5. Q4 2015 Investor Presentation – EP Energy Corp – slide 5
    Rapidly Improving Cost Structure Gross Well Cost1 (MM) Total Company LOE (/Boe) Eagle Ford 7.2 5.8 4.9 FY'14 FY'15 Best 2015 Well 5.39 4.53 4Q'14 4Q'15 Wolfcamp 6.2 5.3 4.6 Total Company Production (MBoe/d)…
  6. Q4 2015 Investor Presentation – EP Energy Corp – slide 6
    Reserves and Inventory Proved oil and gas reserves Drilling inventory 546 MMBoe in proved reserves Maintained future inventory of 12% decrease from 14 5,700 drilling locations 6% increase prior to impacts Total consistent with 2014…
  7. Q4 2015 Investor Presentation – EP Energy Corp – slide 7
    Type Well Economics Eagle Ford Wolfcamp Well Cost: 4.7MM Well Cost: 4.2MM 60% Lateral Length: 5,700 ft 50% Lateral Length: 7,500 ft Break-even Price: 39 per Bbl Break-even Price: 39 per Bbl 50% 40% BTAX IRR BTAX IRR 40%…
  8. Q4 2015 Investor Presentation – EP Energy Corp – slide 8
    Financial Highlights 4Q15 results 425MM Adjusted EBITDAX up 5% from 4Q14 0.22 Adjusted EPS and 1.42 Discretionary Cash Flow Per Share 8.87 Adjusted unit cash operating costs down 26% from 4Q14 Maintained strong unit cash margins of…
  9. Q4 2015 Investor Presentation – EP Energy Corp – slide 9
    Continued Lower Cash Costs /Boe Margin / Cost 4Q 2014 4Q 2015 Variance Adjusted Cash Operating Costs Per Unit Unit revenue 58.17 53.00 9% unfavorable LOE (5.39) (4.53) 16% favorable 12.00 11.44 Adjusted net G&A (3.43) (2.80) 18%…
  10. Q4 2015 Investor Presentation – EP Energy Corp – slide 10
    Hedge Program Provides Cash Flow Stability 2016 2017 Oil Fixed Price Hedges Fixed Price Swap Oil volumes (MMBbls)1 18.0 5.1 Average floor price (/Bbl) 80.29 65.87 Natural Gas Fixed Price Hedges Natural Gas volumes (TBtu) 7.3 -…
  11. Q4 2015 Investor Presentation – EP Energy Corp – slide 11
    2016 Outlook 2016 Oil production (MBbls) 45 50 Total production (MBoe/d) 91 97 Capital program (MM) 500 900 Well completions 75 160 Adjusted cash cost (per Boe) 9.50 10.50 Transportation cost (per Boe) 3.40 3.65 Remain cash…
  12. Q4 2015 Investor Presentation – EP Energy Corp – slide 12
    Eagle Ford: Efficient Oil Program Oil Production 4Q Highlights (MBbls/d) 41.5 35.9 37.8 38.0 39.9 36.5 14 wells completed (3 wells in late December) 33.7 31.6 3 rigs and 1 stimulation crew 27.3 4Q production impacts…
  13. Q4 2015 Investor Presentation – EP Energy Corp – slide 13
    Wolfcamp: Break-through Results While Driving Down Costs 4Q Highlights Oil Production (MBbls/d) Improved well returns in 2015 9.4 9.5 9.5 7.9 9.2 9.0 8.3 Higher production rates 7.2 Reduced well costs 5.5 Reduced LOE costs…
  14. Q4 2015 Investor Presentation – EP Energy Corp – slide 14
    Altamont: Steady Oil Performance Oil Production 4Q Highlights (MBbls/d) Consistent high-end well performance 12.8 12.5 12.9 12.7 11.7 11.8 11.7 Completed 2 wells 9.5 9.8 Reduced LOE costs Increased recompletion activity Improved…
  15. Q4 2015 Investor Presentation – EP Energy Corp – slide 15
    Haynesville: 2015 Program Enhancements Gas Production (MMcf/d) 4Q Highlights 125 112 113 Outstanding results from first two 7,500 98 laterals 89 85 76 71 85 Average IP 90 of 20 MMcf/d Existing wells benefitted from offset…
  16. Q4 2015 Investor Presentation – EP Energy Corp – slide 16
    Managing Through Volatility Solid financial and operational results Solid 2015 Continued to improve asset programs Execution Reduced costs Improved financial flexibility Maintain financial discipline Focus on asset improvements…
  17. Q4 2015 Investor Presentation – EP Energy Corp – slide 17
    Top Tier Capital Cost and Efficiency Gross Well Cost1 Total Well Cost per Foot1 Rig Days Stimulation (MM) (/ft.) (Spud to Rig Release) (Stages per day) 8.3 569 9.4 Eagle Ford 7.4 7.2 498 489 14 6.9 12 10 6.5 6.5 5.8 9 4.7 379…
  18. Q4 2015 Investor Presentation – EP Energy Corp – slide 18
    2015 Completed Wells By Quarter Program 1Q 2Q 3Q 4Q FY Eagle Ford 38 42 24 14 118 Wolfcamp 10 9 16 1 36 Altamont 9 12 7 2 30 Haynesville - - 2 2 4 Total company 57 63 49 19 188 23

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