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IPAA's OGIS New York – Jones Energy Inc.

Jones Energy Inc. · Apr 11, 2016 · 21 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. IPAA's OGIS New York – Jones Energy Inc. – slide 1
    IPAAs OGIS New York April 11, 2016
  2. IPAA's OGIS New York – Jones Energy Inc. – slide 2
    Jones Energy Overview NYSE Ticker: JONE Share Price: 3.33 Western Anadarko Basin Cleveland Market Cap: 205 million Eastern Anadarko Basin Arkoma Basin Enterprise SCOOP/STACK Woodford Value: 925 million Total Shares Austin…
  3. IPAA's OGIS New York – Jones Energy Inc. – slide 3
    Making the Right Moves in a Low Price Environment Prepared Paused Lowered Improved for market drilling program costs balance sheet opportunities Initial 2016 capital Cleveland AFE down Bought back 171 M&A activity picking plan…
  4. IPAA's OGIS New York – Jones Energy Inc. – slide 4
    2015 Production Increased 10% With Capex Down 60% Beat 15 production & capex guidance 2015 Production Increased 10% 26.0 Even after raising production guidance twice and lowering capex guidance 25.0 Mboe/d 24.0 Decreased…
  5. IPAA's OGIS New York – Jones Energy Inc. – slide 5
    2015 Reserves Show Strength of Cleveland Well Economics Proved Reserves Declined Only 10% 2015 Proved Reserves of 101.7 MMBoe 140 80.6 MMBoe of Cleveland Reserves 120 25.4 MMBbl of Oil Reserves 100 MMboe 80 60 5% 40 16%…
  6. IPAA's OGIS New York – Jones Energy Inc. – slide 6
    2016 Plan is Flexible Initial 2016 capex guidance of 25 MM Assumes no continuous drilling program Capital primarily for workovers Initial Capex Plan Down 90% from 2015 250 200 Returns support drilling soon 200 Ability to add…
  7. IPAA's OGIS New York – Jones Energy Inc. – slide 7
    Allocating Capital to Highest Return Opportunity Bought back 171 MM in bonds for 74 MM 97 MM reduction in total debt outstanding 12.5 MM in expected annual interest savings; 85 MM saved over life of bonds Debt Maturities Summary…
  8. IPAA's OGIS New York – Jones Energy Inc. – slide 8
    Returns Support Drilling Soon Cleveland Well Level IRR 45% 45% 1.8mm AFE 30% 30% 2.0mm AFE IRR IRR 2.3mm AFE 15% 15% 0% 0% Spud Month Note: Incorporates forward strip pricing as of March 21, 2016. 9
  9. IPAA's OGIS New York – Jones Energy Inc. – slide 9
    Cleveland is Competitive with the Best US Plays WTI Breakevens (/bbl) 60 50 40 30 20 10 0 Source: Wells Fargo Securities, LLC estimates as of February 2016 with the exception of JONE Cleveland returns. Basin…
  10. IPAA's OGIS New York – Jones Energy Inc. – slide 10
    Jones Has Cracked the Code with Higher Density Cleveland Wells Top wells from 2015 drilling program across JONE acreage Dick Barton 502-1H Willis D Price 612 -5H Willis D Price 613-4H Graves 530-12H IP30: 728 Boe/d IP30: 1,601 Boe/d…
  11. IPAA's OGIS New York – Jones Energy Inc. – slide 11
    Tighter Frack Spacing Improves Cleveland EURs JONE Cleveland well data shows significant EUR improvement over time Over 525 JONE Cleveland wells included in data set Data verified as part of audited 2015 reserve report 300 JONE…
  12. IPAA's OGIS New York – Jones Energy Inc. – slide 12
    Better than Expected Oil Uplift from Higher Density Wells Oil uplift largely tied to higher density of frack stages Operational optimization has further enhanced well results Oil EUR How Jones Has Optimized: 120 Higher density frack…
  13. IPAA's OGIS New York – Jones Energy Inc. – slide 13
    Gas Outperformance is Unexpected Upside Higher density resulted in gas outperformance in addition to oil uplift Wet Gas EUR 1,000 800 Includes 115 JONE wells Includes 205 600 JONE wells MMcf 400 200 0 Lower…
  14. IPAA's OGIS New York – Jones Energy Inc. – slide 14
    Peer Leading Oil Hedge Book More hedged than peers in 2016 and 2017 JONE 2H16 PEERS 100% HEDGED 32% HEDGED at 100/bbl Oil JONE 70% HEDGED 2017 PEERS 13% HEDGED at 80/bbl Oil Source: Percentages hedged according to…
  15. IPAA's OGIS New York – Jones Energy Inc. – slide 15
    Peer Leading Gas Hedge Book More hedged than peers in 2016 and 2017 JONE 2H16 PEERS 97% HEDGED 36% HEDGED Gas at 4.50/Mcf JONE 2017 PEERS 66% HEDGED 20% HEDGED Gas at 4.30/Mcf Source: Percentages hedged according to…
  16. IPAA's OGIS New York – Jones Energy Inc. – slide 16
    Hedge Gains Provide Financial Flexibility Locked in 50 million in 2018/19 hedge gains; can be used as EBITDAX in 2016/17 Improves credit metrics and maintains debt/EBITDAX below 4x into 2018 JONE MTM Hedge Gains of 260 MM as of…
  17. IPAA's OGIS New York – Jones Energy Inc. – slide 17
    Best-in-Class Operating Costs LOE declined 30% in 2H15 driven by operational efficiencies and bid reductions 4Q15 LOE per Boe 20 JONE LOE represents 50% of peer average 15 10 JONE: 3.73 Peer average: 7.88 5 0 JONE…
  18. IPAA's OGIS New York – Jones Energy Inc. – slide 18
    Proven Track Record as Mid-Con Consolidator z Exxon Mobil JDA BP JDA Shattuck Crusader Chalker Sabine acquisition Atoka, Brown Dolomite, Cleveland and acquisition acquisition acquisition Cleveland, Tonkawa, Cleveland, Des Moines,…
  19. IPAA's OGIS New York – Jones Energy Inc. – slide 19
    We Have Been Here Before; We Have the Playbook Protect the Balance Sheet One of few E&P companies with runway into 2018 and beyond Will continue to look for additional ways to improve credit metrics Maintain Operational Excellence…
  20. IPAA's OGIS New York – Jones Energy Inc. – slide 20
    2016 Guidance and 1Q Production Guidance 2016E 1Q16E Total Production (MMBoe) 5.6 6.2 1.75 1.85 Average Daily Production (MBoe/d) 15.5 17.0 19.3 20.3 Crude Oil (MBbl/d) 3.6 3.9 4.6 4.9 Natural Gas (MMcf/d) 41.7 45.9 51.7 54.1…
  21. IPAA's OGIS New York – Jones Energy Inc. – slide 21
    NGL Barrel Component Detail Cleveland Conway Cleveland Natural Gasoline 12% (85% of forecasted 2016 NGL production) Iso Butane 6% Butane 13% Basket Ethane 32% Propane 37% Propane 37% Butane 13% Ethane 32% Iso Butane 6% Natural…

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