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Johnson Rice Energy Conference – Clayton Williams Energy Inc.

Clayton Williams Energy Inc. · Sep 22, 2016 · 18 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. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 1
    Clayton Williams Energy, Inc. Johnson Rice Energy Conference September 22, 2016 NYSE: CWEI www.claytonwilliams.com
  2. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 2
    Operations Overview Permian Basin and Giddings Areas are two of the largest resource plays in the US CWEI has large acreage positions in both areas Permian Basin 170,000 net acres Giddings Area 160,000 net acres Permian Basin Over…
  3. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 3
    Resource Potential Large Resource Base High pressured oily core Area provides for extensive development potential Resource potential: 400 MMBOIP per section Area operators delineating to additional formations within the…
  4. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 4
    CWEIs Position in Play 65,000 net acres Over 100 wells spud to date 77 Vertical 48 Horizontal 3,500 oil column from 8,000 to 11,500 Targeting Upper & Lower Wolfcamp A and Wolfcamp C 1 rig drilling in area for 2016 Optimizing…
  5. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 5
    150,000 Wolfcamp Efficiencies: Old Completion Design vs. New Collier 100,000 Collier 3451 Faster drill times Lowe 1H BOE Lowe 26 1H Incorporating spudder rig to reduce drill times further 50,000 Average Optimizing…
  6. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 6
    Targeting Wolfcamp Wells Drilled & Identified Drilling Bench A&C: Completed to Date Locations* Upper Wolfcamp A 23 299 Lower Wolfcamp A 3 299 300 Wolfcamp C 4 327 Total 30 925 500 *These identified benches are based on…
  7. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 7
    85,000 acres dedicated for pipeline Gas 104 miles 3 to 8 diameter Capacity expandable to 25 MMcf/d Oil Plains Oil ETC Gas Take Take Point Point 105 miles 3 to 8 diameter Capacity expandable to 25 MBbl/d ETC Pipeline Salt…
  8. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 8
    Area Highlights & Resource Potential 40 Eagle Ford wells completed to date Peak 30-day average 478 BOE/d Significant acreage position HBP Eagle Ford underlies Austin Chalk Legacy acreage with established infrastructure Resource…
  9. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 9
    A Eagle Ford Type Cross Section A 28 MMBOIP per section Austin Chalk A Average depth A of 7,000 Average 100 net pay thickness Eagle Ford Continuity of reservoir across acreage Consistent, thick pay in Eagle Ford…
  10. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 10
    Capitalization and Liquidity Net Daily Production (MBOE) Pro Forma for 13.6 As Reported Equity Sale and June 30, 2016 Tender Offer (a) 1.6 By Product By Area ( in millions) 2.2 11% DB NGL 27% Capitalization: Cash and Liquid…
  11. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 11
    Company in transition New management and board members Permian Basin Liquidity with improving balance sheet Core position in the Southern Delaware Basin Giddings Eagle Ford Large position in Eagle Ford Shale 12
  12. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 12
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  13. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 13
    Proved Reserves (MMBOE) Reserve replacement of 61% 80.0 Reserve Life 8.1 years 60.0 Trend is towards higher concentration in oil 40.0 75.4 70.0 20.0 46.6 0.0 2013 2014 2015 2015 Product Mix By Reserve Category 17% 100%…
  14. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 14
    Current Swaps: Oil MBbls Price Production Period: 3rd Quarter 2016 615 41.13 4th Quarter 2016.. 619 41.18 2017. 316 44.30 1,550 Costless Collars: Oil Weighted Avg Weighted Avg MBbls Floor Price Ceiling Price Production…
  15. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 15
    Actual Actual Estimated Ranges Estimated Ranges Three Months Ended Three Months Ended Six Months Ending Fiscal Year Ending March 31, 2016 June 30, 2016 December 31, 2016 December 31, 2016 (Dollars in thousands, except per unit data)…
  16. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 16
    Year Ended December 31, 2013 2014 2015 Production: Oil (MBbls) 3,692 4,194 4,257 Gas (MMcf) 6,188 5,901 5,798 Natural gas liquids (MBbls) 532 585 550 Total (MBOE) 5,255 5,763 5,773 Operating Metrics per BOE: Lease operations 20.63…
  17. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 17
    Year ended December 31, ( thousands, except per unit statistics) 2013 2014 2015 Average Realized Prices: Oil (/Bbl) 95.05 86.81 44.76 Gas (/Mcf) 3.59 4.35 2.52 NGL (/Bbl) 33.26 32.17 13.07 Price After Effect of Hedging: Oil (/Bbl)…
  18. Johnson Rice Energy Conference – Clayton Williams Energy Inc. – slide 18
    Year ended December 31, ( thousands) 2013 2014 2015 Net income (loss) (24,862) 43,881 (98,196) Interest expense 43,079 50,907 54,422 Income tax expense (benefit) (12,428) 24,687 (55,139) Exploration: Abandonments and impairments 5,887…

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