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EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co.

National Fuel Gas Co. · Aug 17, 2016 · 27 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. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 1
    EnerCom The Oil & Gas Conference August 16, 2016
  2. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 2
    National Fuel Gas Company Quality Assets Exceptional Location Unique Integration Upstream 2.3 Tcfe Proved Reserves (1) 785,000 net acres in Marcellus Shale 3 million Bbls/year of crude oil production in California Midstream 267…
  3. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 3
    Balanced Across the Value Chain 1,250 Exploration & Production Segment Gathering Segment Pipeline & Storage Segment Utility Segment 1,000 Energy Marketing & Other 953 852 843 Adjusted EBITDA (Millions) 772 750 704 539 492…
  4. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 4
    Strong Balance Sheet and Liquidity Debt/Adjusted EBITDA Capitalization 2.72 x 2.27 x 1.89 x 1.89 x 1.77 x Total Equity Total Debt 42% 58% 3.6 Billion Total Capitalization 2012 2013 2014 2015 TTM as of June 30, 2016 Fiscal…
  5. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 5
    With a Visible Pathway to Significant Growth Firm Transport to Allow for Considerable Growth for E&P, Gathering & Pipeline & Storage Segments FY2016 to FY2017 Fiscal 2018 and beyond 450,000+ Dth/d 914,405 Dth/d 1,000 Atlantic…
  6. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 6
    And Flexibility to Deploy Capital 1,500 Exploration & Production Segment (1) Gathering Segment Pipeline & Storage Segment Utility Segment Energy Marketing & Other Capital Expenditures (Millions) 977 970 1,001 1,000…
  7. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 7
    Appalachia Exploration & Production Gathering Pipeline & Storage 8
  8. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 8
    Integrated Vision for Long-term Growth in Appalachia Exploration & Production 1 Long-term, return- driven approach to developing vast Marcellus & Utica acreage position 3 Gathering Northern Access projects to 2 transport 660…
  9. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 9
    Significant Appalachian Acreage Position Exploration & Production Appalachia Eastern Development Area (EDA) Western Development Area (WDA) 70,000 Acres 715,000 Acres 153 wells able to produce 280 MMcf/d 120 locations…
  10. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 10
    Marcellus Shale: Western Development Area Exploration & Production Appalachia WDA Tier 1 Acreage 200,000 Acres WDA Highlights Large drilling inventory of quality Marcellus dry gas o 1,100 locations economic < 2.00/MMBtu realized…
  11. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 11
    Industry Leading Well Costs Exploration & Production Appalachia WDA Acreage Position & Operational Efficiencies Driving Best-in-Class Well Costs in Marcellus Marcellus Drilling Cost per Foot Marcellus Completion Cost per Stage…
  12. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 12
    Utica Shale Opportunities in WDA Exploration & Production Appalachia 1st Clermont Rich Valley Utica Well Test On Trend with Northeast Pa. Results CRV Utica Test Well Results Seneca tested 1st Utica well off 10-well Marcellus…
  13. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 13
    Integrated WDA Development - Gathering Gathering Appalachia Gathering System Build-Out Tailored to Accommodate Senecas WDA Development Clermont Gathering System Map Current System In-Service 67 miles of pipe/26,220 HP of compression…
  14. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 14
    Northern Access Pipeline Expansions Pipeline & Storage Appalachia Expanding Our Interstate Pipelines to Deliver Senecas WDA Production to Canada Northern Access 2015(1) Delivery: Niagara (TCP) 140,000 Dth/d Niagara 67.5 million…
  15. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 15
    Marcellus Shale: Eastern Development Area Exploration & Production Appalachia EDA Highlights EDA Acreage 70,000 Acres 1 Covington & DCNR Tract 595 (Tioga) o Marcellus locations fully developed o 92 wells(1) with 90 MMcf/d…
  16. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 16
    Significant Base of Long-Term Firm Contracts Production & Marketing FY 2016 to FY2017 Fiscal 2018 and beyond 465,000+ Dth/d 914,405 Dth/d 1,000 Atlantic Sunrise (Transco) Delivery Markets: Mid-Atlantic & Southeast U.S. 189,405…
  17. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 17
    Pipeline & Storage: Premier Appalachian Position Appalachia NEW NFG is uniquely MAP-need positioned to add our regional pipeline systems and to expand in the provide valuable transmission outlets for producers and shippers in…
  18. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 18
    Planned Empire System Expansion Pipeline & Storage Appalachia Providing Optionality for Northeast Pennsylvania Producers Empire North Expansion Project Target In-Service: Fiscal 2019 System: Empire Pipeline Target Market: o…
  19. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 19
    California Overview Exploration & Production 20
  20. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 20
    California Upstream Stable Oil Production Minimal Capital Investment Free Cash Flow Positive East Coalinga 6,000 FY 2010 Gross Operated Daily Production 4,500 4,350 Temblor Formation FY 2015 Primary 4,500 (Boe/d)…
  21. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 21
    Economic Development Focused on Midway Sunset Upstream North Midway Sunset Economics North MWSS Project IRRs at 50/Bbl(1) Sec. 17N MWSS Acreage 49% 37% 30% NMWSS SMWSS Farm-in Projects Hoyt FY16 Budgeted D&C Portfolio…
  22. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 22
    Strong Margins Support Significant Free Cash Flow Upstream West Division Adjusted EBITDA per BOE(1) Trailing 12-months Ended 6/30/16 Non-Steam Fuel LOE 11.79 Steam Fuel 3.19 California Margins (per BOE) Average Revenue 54.81…
  23. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 23
    Seneca Production Upstream Seneca Resources Net Production (Bcfe) JDA tempers net production growth in FY17 250 (1) Gross production expected to grow 10% Appalachia Growth is largely being generated from joint West Coast…
  24. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 24
    Price Certainty on Majority of Production in FY17 Upstream Remaining Fiscal 2016 Production Fiscal 2017 Production Remaining FY16 Natural Gas Price Certainty FY17 Natural Gas Price Certainty 34 Bcf realizing net 3.10/Mcf(1) 120 Bcf…
  25. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 25
    Competitive Cost Structure Upstream Appalachia LOE & Gathering California LOE Seneca Resources Consolidated /Mcfe /Boe /Mcfe 1.70 1.55 1.58 0.81 17.88 0.22 0.73 0.72 0.20 0.20 16.17 15.06 0.25 0.14 0.11 0.42 (1) 0.38 (1)…
  26. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 26
    Fiscal 2017 Operating Plan Capital Expenditures by Segment (MM) FY2017 Operating Plan Highlights Upstream 1,500 (1) Exploration & Production Segment Gathering Segment Appalachia: 1-rig program / daylight-only frac crew Pipeline &…
  27. EnerCom The Oil and Gas Conference 2016 – National Fuel Gas Co. – slide 27
    The National Fuel Value Proposition Considerable Upstream and Midstream Growth Opportunities in Appalachia Fee ownership on 715,000 net acres in WDA = limited royalties or drilling commitments Seneca has 900,000 Dth/day of firm…

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