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January 2015 Investor Presentation – Energen Corp.

Energen Corp. · Jan 14, 2015 · 28 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. January 2015 Investor Presentation – Energen Corp. – slide 1
    Midland Basin Wolfcamp Horizontal Development Greg Wilson January 14, 2015
  2. January 2015 Investor Presentation – Energen Corp. – slide 2
    What Makes RESOURCE PLAYS Work Organic Mudstones (basinal source rocks) Mappable (significant thickness & areal extent) Richness (generated oil in place) Repeatable (predictable results)
  3. January 2015 Investor Presentation – Energen Corp. – slide 3
    What Makes RESOURCE PLAYS Work Contd Thermal Maturity Hydrocarbon Generation (Oil / Wet Gas / Dry Gas) Reservoir Quality (porosity & permeability) Petrophysical Properties (identify, measure, analyze & map) Clay Volume (low to…
  4. January 2015 Investor Presentation – Energen Corp. – slide 4
    Wolfcamp Paleographical Map ERC N. Midland Basin Wolfcamp Shale Play ERC Fivestones Wolfcamp Shale Play ERC Delaware Basin Wolfcamp Shale Play WTGS, 03/08/2011, Midland, TX
  5. January 2015 Investor Presentation – Energen Corp. – slide 5
    Permian Basin Stratigraphic Column & Focus Plays Bulk of production comes from the Permian sequence Avalon Bone Spring Shale 1st Bn Sp Sand U Spraberry Major source rocks in the 2ndBn Sp Sand L Spraberry Ordovician,…
  6. January 2015 Investor Presentation – Energen Corp. – slide 6
    Reservoir Quality in a Resource Rock Intergranular and Intra-Kerogen Intergranular Reservoir space is a network of Rock Intergranular and Intra-Kerogen related pores molded into a complex geometry Porosity determination from…
  7. January 2015 Investor Presentation – Energen Corp. – slide 7
    Thermal Maturity Hydrocarbon Generation and Reservoir Quality % Ro (vitrinite reflectance) industry standard for maturity assessment Microscopic examination from cuttings/core samples Calculated to equivalent % Ro from…
  8. January 2015 Investor Presentation – Energen Corp. – slide 8
    Wolfcamp A Core Data Lavaca 38 5 Organic Silty Mudstone TOC = 2.0 4.6% (wt%) Ro (calc) = 0.85 0.9% Tmax = 445-449 (deg C) MINERALOGY by XRD (Lavaca 38 5 Well) 7618.5 7628.0 7633.5 7642.0 7653.0 Wolfcamp Total Clay = Avg 35%…
  9. January 2015 Investor Presentation – Energen Corp. – slide 9
    The Petrophysical Model The Petrophysical Model must be rooted in the rock, fit within the geologic framework, and be vetted against the production OOIP = (7758 * A * h * e * (1-Sw)) / Bo
  10. January 2015 Investor Presentation – Energen Corp. – slide 10
    Midland Basin Exploratory Drilling Program South Glasscock Wolfcamp A & B Results Andrews Martin Howard Mitchell Wolfcamp Play: Blue Outline ERC San Saba NS 37-48 204H Wolfcamp B 7,300 lateral Midland Glasscock 24 Hour Peak…
  11. January 2015 Investor Presentation – Energen Corp. – slide 11
    ERC Development Plan
  12. January 2015 Investor Presentation – Energen Corp. – slide 12
    Pad Drilling Minimizes land impacts Allows quicker rig moves Permits Zipper fracing More efficient facilities hookup Facilitates water recycling Image source: Laredo Petroleum
  13. January 2015 Investor Presentation – Energen Corp. – slide 13
    Development Pattern Maximizing the Resource
  14. January 2015 Investor Presentation – Energen Corp. – slide 14
    Development Pattern Current inter-well spacing N to S and S to N crossing wells A B A B 600 50 50 50 620 A B A B
  15. January 2015 Investor Presentation – Energen Corp. – slide 15
    Lateral Targets
  16. January 2015 Investor Presentation – Energen Corp. – slide 16
    S Midland Basin Lateral Schematic Current ERC Development Program Additional Potential Hz Targets
  17. January 2015 Investor Presentation – Energen Corp. – slide 17
    WC A Target 250 WC B Target Is 250 vertical separation too close for stacked laterals
  18. January 2015 Investor Presentation – Energen Corp. – slide 18
    WC A - Guadalupe 48 101H Gun-barrel view -67% of events in the Guadalupe well occurred within the A interval. If events above the A are ignored, 87% were in the A (vs 13% in the B). -High-density area of events in the A is 250…
  19. January 2015 Investor Presentation – Energen Corp. – slide 19
    WC B - San Saba NS 204H Gun-barrel view -68% of events in the San Saba well occurred within the B interval. If events above the A are ignored, 74% were in the B (vs 26% in the A), even with the reduced pressure in the adjacent…
  20. January 2015 Investor Presentation – Energen Corp. – slide 20
    So do the stacked wells communicate During the fracture stimulation: Yes. But, flowback and production characteristics suggest..not much.
  21. January 2015 Investor Presentation – Energen Corp. – slide 21
    Spacing: How close is close enough
  22. January 2015 Investor Presentation – Energen Corp. – slide 22
    Currently about 620 A B A B 600 50 50 50 620 A B A B
  23. January 2015 Investor Presentation – Energen Corp. – slide 23
    One way to find out: Spacing test 1 Mile A 620 420 B Two sets side by side, all parameters (length, stimulation, landing) the same except spacing
  24. January 2015 Investor Presentation – Energen Corp. – slide 24
    Development Pattern: The Next Step
  25. January 2015 Investor Presentation – Energen Corp. – slide 25
    More Pad Drilling Whats the best arrangement C Cline A B 700 50 50 50 A B C Cline
  26. January 2015 Investor Presentation – Energen Corp. – slide 26
    How many total horizons More to be tested. Potentially 6+ horizons per pad, 8 pads across a section, 48+ wells per section
  27. January 2015 Investor Presentation – Energen Corp. – slide 27
    Its going to get crowded out there (but only on the drilling pads) Photo from the American Petroleum Institute, via priweb.com
  28. January 2015 Investor Presentation – Energen Corp. – slide 28
    Questions

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