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1Q16 Supplemental Slides – Energen Corp.

Energen Corp. · May 5, 2016 · 11 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. 1Q16 Supplemental Slides – Energen Corp. – slide 1
    Unlocking Value in the Permian Basin 1Q16 Supplemental Slides Thursday, May 5, 2016
  2. 1Q16 Supplemental Slides – Energen Corp. – slide 2
    2 1Q16 Highlights Setting the Stage for 2017 Recapitalized balance sheet Equity offering Additional hedges Asset sales processes under way Rebuilding DUC inventory in 2H16 Expanding Development to Core Delaware Basin…
  3. 1Q16 Supplemental Slides – Energen Corp. – slide 3
    3 Rebuilding DUC Inventory in 2H16 CY16 CAPITAL INVESTMENT MM CY16 Midland Basin Drilling Plans Midland Basin 250 300 3750 gross (3648 net) wells to be drilled Delaware Basin 80 Includes 2740 gross (2739 net) DUCs to be drilled in…
  4. 1Q16 Supplemental Slides – Energen Corp. – slide 4
    4 Core Delaware, Midland Basin IRRs Wolfcamp A/B IRRs (Core Delaware) Jo Mill, Middle & Lower Spraberry IRRs (MB) 140% 140% 120% 10,000 EUR: 2,000 MBOE 120% 7,500 EUR: 1,500 MBOE 10,000 EUR: 1,200 MBOE 100% 4,500 EUR: 1,100 MBOE…
  5. 1Q16 Supplemental Slides – Energen Corp. – slide 5
    5 Strong Balance Sheet 2016e Capitalization (MM) Maturity Schedule of Notes Net Debt at YE15 775 775 400 Plus: Capital Investment* 375 425 Less: Net proceeds 1Q16 equity offering 381 381 Less: Est. proceeds noncore asset sales 400 400…
  6. 1Q16 Supplemental Slides – Energen Corp. – slide 6
    6 Hedges and CY16e Price Realizations CY2016 Hedges 2016 Midland to Cushing Hedges Hedge % at Est. Average Hedge Average Hedged Production NYMEXe Volumes Price Volumes Midpoint Price WTS Midland to WTI Cushing 2.1 MMBO…
  7. 1Q16 Supplemental Slides – Energen Corp. – slide 7
    7 1Q16 Expenses, Production vs Guidance Estimated expenses, pro forma for planned sales of noncore assets 1Q16 Guidance LOE per boe (production costs, marketing & transportation) 8.51 10.0010.40 Production & ad valorem taxes (% of…
  8. 1Q16 Supplemental Slides – Energen Corp. – slide 8
    8 Updated 2016 Guidance* Estimated expenses, pro forma for planned sales of noncore assets CY16e Prior CY16 Guidance LOE per BOE (production costs, marketing & transportation) 9.20 9.60 9.509.90 Production & ad valorem taxes (% of…
  9. 1Q16 Supplemental Slides – Energen Corp. – slide 9
    9 Jo Mill Performance Martin County: Results vs Potential Range of Outcomes 100 Production and type curves normalized to 7,500 lateral lengths Daily production normalized for operational downtime Day 0 = first oil 80…
  10. 1Q16 Supplemental Slides – Energen Corp. – slide 10
    10 Middle Spraberry Performance Martin County: Results vs Potential Range of Outcomes 200 Production and type curves normalized to 7,500 lateral lengths 180 Daily production normalized for operational downtime Day 0 = first…
  11. 1Q16 Supplemental Slides – Energen Corp. – slide 11
    11 Lower Spraberry Performance Martin and Howard Counties: Results vs Potential Range of Outcomes 240 220 Production and type curves normalized to 7,500 lateral lengths Daily production normalized for operational downtime 200…

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