Energy Corporation Resolute Energy is a regionally diversified growth oriented E&P company Investor Presentation focused on long-lived September 1, 2016 domestic oil producing assets (NYSE: REN)
Resolute Energy overview Delaware Basin 22,400 gross (12,900 net) acres in core of Reeves County Wolfcamp play Development program targeting long laterals in Wolfcamp A and B (7,500 to 10,000) Aneth Field 320+ Wolfcamp A and B…
Company highlights Continuing Delaware Basin development; 2016 drilling program extended to 14 Wolfcamp laterals Operational Type curves increased; Wolfcamp A 10,000 foot laterals show EUR of 2.3 million Boe; realized IPs of more…
Delaware Basin Reeves County Wolfcamp acreage position delivering Delaware Basin map superior results Recent IPs exceeded 3,000 Boe per day EUR of more than 2 MMBoe per well F&D cost approximately 4.00 per Boe Highly concentrated…
Mustang and Appaloosa Outstanding well results Reeves County Cimarex Resolute Resolute Resolute Greathouse C21-6 1H North Goat 2201H North Elephant 1001H South Elephant 1004H IP30: 1,792 Boepd IP30: 2,116 Boepd IP24: 2,449 Boepd…
Wolfcamp A horizontal well results 2016 Wolfcamp A horizontal wells Well information Drilling and completion data Production data Lateral Proppant Peak day Peak 30 Peak 60 Peak 90 Peak 120 Frac Peak 30 Name Status length (million…
Superior well results IRR at June 30, 2016 strip vs. capex and EUR Consistently strong results First 5 gross (4.0 net) wells of 2016 drilling program added 14.5 MMBoe of reserves and 122 million of PV101 1. Full cycle evaluation…
Supplemental 2016 drilling program Five additional wells to be drilled Mustang and Appaloosa Resolute acreage Supplemental program 80 acre Wolfcamp stack pilot Appaloosa Mustang Wolfcamp A 80 acre Wolfcamp A…
Wolfcamp A B development Effective resource recovery Development model inventory growth 575 675 feet of reservoir section in Wolfcamp A and Wolfcamp B across acreage block 8 wells/sec Established Wolfcamp A 160 acre…
Expanding asset inventory Significant potential beyond Wolfcamp A and B Wolfcamp horizontal target opportunities Wolfcamp X/Y sands are productive east Reeves County zones 1 mile of our Appaloosa acreage Wolfcamp A/X 160 acre…
Expanding asset inventory Significant potential beyond Wolfcamp A and B Wolfcamp A and B derisked and producing Wolfcamp X/Y sands are productive east of our Appaloosa acreage Wolfcamp C and D productive in the Delaware Basin…
Type curve economics 10,000 foot lateral Development type well Wolfcamp A IRR D&C cost, product price Peak 30-day (gross, Boe) 2,024 EUR (gross, MBoe)1 2,338 AFE ( million) 8.8 Peak 30-day rate (Boe per day) N. Goat 02 2201H…
Actual production v. type curve Wolfcamp A Appaloosa 10,000 foot lateral North Goat 02 2201H North Mitre 02 2101H South Elephant 02 1004H North Elephant 02 1001H 15
Type curve economics 7,500 foot lateral Development type well Wolfcamp A IRR D&C cost, product price Peak 30-day (gross, Boe) 1,688 EUR (gross, MBoe)1 2,014 AFE ( million) 8.2 Peak 30-day rate (Boe per day) Jolly 1201BH (WCA)…
Actual production v. type curve Wolfcamp A Mustang 7,500 foot lateral Jolly 1201BH Flying Dog 1401BH Thunder Canyon 0204H 17
Organic production growth1 Total company production 30,000 1 rig 2017, 2 rigs 2018 2 rigs 2017, 2 rigs 2018 25,000 Boe per day 20,000 15,000 Midpoint of guidance 12,500 Boe per day 10,000 2016 2017 2018 In the…
Aneth Field overview Foundation asset Aneth Field 1.5 billion barrels OOIP Produced 442 MMBbl of oil through 2015 (30% recovery) Ongoing successful CO2 flood Aneth and McElmo Creek units predict an average recovery of 40% of OOIP…
Aneth Field performance Boe per day vs. LOE per Boe, net Aneth Field Production vs. LOE (net) Aneth Field production has remained essentially flat over the past two years despite lease operating expense per Boe declining an…
Aneth Field performance Boe per day vs. capital expenditures, net Aneth Field Production vs. capital expenditures (net) Similar to lease operating expense, total capital expenditures have also averaged a decline of more than 6%…
Capitalization and improving credit metrics Pro forma Capitalization table ( million) as of 6/30/16 Revolving credit facility - Secured term loan facililty 128.3 8.5% Senior unsecured notes due 2020 400.0 Total debt 528.3 Less:…
Revised guidance Original Updated 2016 Guidance update guidance August 2016 Projected production Annual MBoe 3,730 4,350 4,246 4,904 Boe per day 10,200 11,900 11,600 13,400 Midpoint (Boe per day) 11,050 12,500 Projected costs…
Investment highlights Core of the core Delaware Basin acreage position World class asset base More than 320 operated Wolfcamp A and B drilling locations on concentrated acreage Excellent 10,000 foot Wolfcamp A wells average rates…
Appendix
Pricing assumptions June 30, 2016 strip Year 2016 2017 2018 2019 2020 Thereafter Oil (/Bbl) 49.54 52.17 53.69 54.60 55.43 56.22 Gas (/MMBtu) 3.04 3.18 3.02 3.00 3.06 3.19 26
Current hedge positions As of August 31, 2016 Current oil derivative positons Bbl/day % Hedged utilizing Swap Collars Options Term hedged Swaps Collars Options strike Sold put Floor Cap Sold Call 2016 8,526 77% 23% 0% 80.11 - 45.00…
Margin and cost structure Non-GAAP reconciliation 2015 2016 ( in millions, except as noted) Q1 Q2 Q3 Q4 Full year Q1 Q2 YTD Sales volumes Total MBoe 1,215 1,231 1,144 946 4,536 820 1,080 1,900 Revenue 41.1 48.4 36.6 28.5 154.6…
Margin and cost structure per Boe Non-GAAP reconciliation 2015 2016 ( per Boe) Q1 Q2 Q3 Q4 Full year Q1 Q2 YTD Revenue 33.86 39.32 32.00 30.14 34.09 23.16 32.78 28.62 Realized derivative gains 19.91 14.61 21.31 28.11 20.54 33.82…
Adjusted EBITDA Non-GAAP reconciliation 2015 2016 ( in millions) Q1 Q2 Q3 Q4 Full year Q1 Q2 YTD Net income (loss) (208.2) (259.1) (182.8) (92.2) (742.3) (85.3) (36.9) (122.2) Adjustments: Interest 11.2 15.8 16.3 21.1 64.4 13.1…
Quarterly prices and volumes 2015 2016 Q1 Q2 Q3 Q4 Full year Q1 Q2 YTD Average prices: Oil ( per Bbl) 41.47 50.54 40.04 35.46 42.16 26.63 39.75 33.95 NGL ( per Bbl) 10.02 12.19 8.72 9.99 10.32 4.30 7.64 6.41 Gas ( per Mcf) 2.64…
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