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1Q 2016 Supplemental Slides – Rice Energy

Rice Energy · May 4, 2016 · 17 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. 1Q 2016 Supplemental Slides – Rice Energy – slide 1
    First Quarter 2016 Supplemental Slides May 4, 2016
  2. 1Q 2016 Supplemental Slides – Rice Energy – slide 2
    Company Overview: More Than Just an E&P Company NYSE: RICE NYSE: RMP Upstream Rice Midstream Holdings GP Holdings Rice Midstream Partners Marcellus + Utica Shale Development Ohio Gathering System RMP Units and IDRs Pennsylvania…
  3. 1Q 2016 Supplemental Slides – Rice Energy – slide 3
    Recent RICE Highlights Strong First Quarter Results Net production 675 MMcfe/d; 53% increase over prior year quarter Increased Adjusted EBITDAX to 109MM; 30% increase over prior year quarter Continued efficiency gains and service cost…
  4. 1Q 2016 Supplemental Slides – Rice Energy – slide 4
    Track Record of Low-Cost Growth MARCELLUS D&C COSTS (/FT.) UTICA D&C COSTS (/FT.) E&P PER UNIT CASH COSTS (/MCFE)(1) 1,507 2,588 1.80 1,269 0.44 1.50 1,218 1,150 1.34 1,715 1.23 925 0.43 1,450 1,380 0.38 0.34 0.23 0.38 0.38…
  5. 1Q 2016 Supplemental Slides – Rice Energy – slide 5
    RICE First Quarter 2016 Consolidated Financial Summary Solid first quarter results supported by well-capitalized balance sheet and ample liquidity QUARTERLY HIGHLIGHTS CAPITALIZATION AT 3/31/2016 Net production averaged 675 MMcfe/d;…
  6. 1Q 2016 Supplemental Slides – Rice Energy – slide 6
    Healthy Balance Sheet Protected by Strong Hedge Book SUMMARY HEDGE SUMMARY Ample Liquidity: 1.3B of total liquidity(1) consisting of 957MM Hedged Volume Avg. Wtd. Fixed Price HHUB Strip BBtu/d /MMBtu of E&P liquidity and 329MM of RMH…
  7. 1Q 2016 Supplemental Slides – Rice Energy – slide 7
    First Quarter 2016 Operational Highlights MARCELLUS OPERATIONAL HIGHLIGHTS UTICA OPERATIONAL HIGHLIGHTS Turned to sales 9 gross (9 net) Marcellus wells in 1Q16 Leading edge Utica costs of 1,380 per lateral foot for 8 Avg. lateral…
  8. 1Q 2016 Supplemental Slides – Rice Energy – slide 8
    Executing the Most Efficient Program in Appalachia: 1 Bcf/d From 180 Wells Our unmatched efficiency is a byproduct of focusing on maximizing the value of every well we drill Gross Operated Production Gross Operated Production vs.…
  9. 1Q 2016 Supplemental Slides – Rice Energy – slide 9
    Differentiated Long-Term Production Differentiation of RICE wells is evident in 1-3 year cumulative production per well. 100% of RICE future activity is focused within our proven concentrated acreage positions in the Marcellus + Utica…
  10. 1Q 2016 Supplemental Slides – Rice Energy – slide 10
    Basis Exposure & Realized Pricing PRICING COMMENTARY BASIS EXPOSURE 100% - HHUB is increasingly challenged 90% 17% 26% (0.05) RICE is 88% hedged in rem. 2016; 80% 32% 32% 30% 32% 50%+ in 2017 19% (0.10) 70% 16% 8% 12% 9% 60%…
  11. 1Q 2016 Supplemental Slides – Rice Energy – slide 11
    200MM Stalking Horse Bid Transaction Highlights RICE is uniquely positioned to acquire ANRs natural gas assets - highly complementary to existing upstream footprint and midstream infrastructure Checks all of the boxes for an attractive…
  12. 1Q 2016 Supplemental Slides – Rice Energy – slide 12
    Well Positioned to Navigate Environment Financial Strength Healthy balance sheet, ample liquidity and robust hedges 2016 budget focused on balance sheet and E&P returns while creating significant future midstream value Healthy Balance…
  13. 1Q 2016 Supplemental Slides – Rice Energy – slide 13
    2016 Guidance E&P (1) D&C & Land Capital Expenditures Net Wells Turned to Sales(2) Average Net Daily Production MM Wells 54 MMcfe/d 830 49 800 900 50 720 800 740 43 700 12 700 115 640 40 7 27 600 552 545 250 600 80 500 500 30…
  14. 1Q 2016 Supplemental Slides – Rice Energy – slide 14
    2016 Detailed Guidance RICE 2016 GUIDANCE(1) RMP 2016 GUIDANCE(1) Guidance Guidance Guidance Net Wells Spud Online Total Net Production (MMcfe/d) 700 - 740 2016 Capital Budget ( in millions) Operated Marcellus 25 27 % Natural gas 100 %…
  15. 1Q 2016 Supplemental Slides – Rice Energy – slide 15
    Hedging Summary HEDGE SUMMARY 2Q - 4Q 2016 2017 2018 2019 2020 RICEs gas will be marketed into 4 areas (1) Gulf Coast (ELA, M1) Hedged M2 / Dominion Volumes (BBtu/d) 183 142 169 205 143 Wtd Avg Floor Price (/MMBtu) 2.33 2.18 2.44…
  16. 1Q 2016 Supplemental Slides – Rice Energy – slide 16
    Hedging Detail FIXED PRICE HEDGES BASIS HEDGES All-In Fixed Price Derivatives 2Q - 4Q 2016 2017 2018 2019 2020 Basis Contract Derivatives 2Q - 4Q 2016 2017 2018 2019 2020 TCO Basis Swaps NYMEX Natural Gas Swaps Volume Hedged (BBtu/d)…
  17. 1Q 2016 Supplemental Slides – Rice Energy – slide 17
    RICE 1Q 2016 Adjusted EBITDAX Reconciliation Three Months Ended ( in thousands) March 31, 2016 Adjusted EBITDAX reconciliation to net income (loss): Net income 3,305 Interest expense 24,521 Depreciation, depletion and amortization…

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