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Lenders Presentation – Samson Resources Company

Samson Resources Company · Dec 6, 2013 · 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. Lenders Presentation – Samson Resources Company – slide 1
    Lenders Presentation December 6, 2013
  2. Lenders Presentation – Samson Resources Company – slide 2
    Company Overview Company Snapshot Focusing on Liquids-rich Targets in Existing Resource Base Proved Reserves (12/31/12): 2.0 Tcfe Rockies Targets: Shannon, Sussex, Frontier, Three Q3 2013 Production(1): 582 MMcfe/d Forks, Middle…
  3. Lenders Presentation – Samson Resources Company – slide 3
    Corporate Strategy Maximize dollars at the drill bit Optimize Capital Focus on prospects with higher liquids content to improve returns Program Reduce costs and improve efficiencies in the field Delineate the liquids-rich Ft.…
  4. Lenders Presentation – Samson Resources Company – slide 4
    Maximizing Dollars to the Drill Bit 2013 Strategy Capital by Type (MM) (9ME 2013) LG&G Facilities Took active steps in early 2013 to reduce 17 39 LG&G spending 90% of capital to the drill bit in 2013 compared to 76% in 2012…
  5. Lenders Presentation – Samson Resources Company – slide 5
    Q3 2013 Production Summary Q3 2013 Production by Commodity(1) Q3 2013 Production by Division(1) 53.6 Bcfe 582 MMcfe/d 2013 Production by Quarter(1) Total Oil NGL Gas (MMcfe/d) (MBbl/d) (MBbl/d) (MMcf/d) 595 436 600 591 20 20…
  6. Lenders Presentation – Samson Resources Company – slide 6
    Delivering Liquids Growth Liquids Production by Quarter(1) (MBbl/d) (% Liquids) 35 35% 30% 30 29% 30% 26% 25 23% 25% 21% 15 20 19% 15 20% 13 12 11 15 15% 9 10 10% 14 13 11 11 11 5 9 5% 0 0% Q1'12 Q2'12 Q3'12…
  7. Lenders Presentation – Samson Resources Company – slide 7
    Reducing Drilling & Completion Costs 7.0 Pad Drilling Completion Service Provider Reductions Down 8% 6.6 6.5 Down D&C Costs per Well (MM) 8% 6.1 6.0 6.0 5.5 5.5 5.0 2012 2013 YTD 2012 2013 YTD Bakken -…
  8. Lenders Presentation – Samson Resources Company – slide 8
    Improving Relative Cost Structure Commitment to Continual Improvement Lease Operating Expense Lower despite shift to higher cost liquids focused drilling Cash G&A(1) Reduced compensation expense Lease Operating Expense Cash…
  9. Lenders Presentation – Samson Resources Company – slide 9
    Rocky Mountain Operations Snapshot: Williston Basin: Three Forks and Middle Bakken Net Acreage: 1,000,000 development YE 2012 Proved Reserves: 779 Bcfe North Dakota Q313 Production: 4.2 MBoe/d Rig Count: 1 Q313 Average Daily…
  10. Lenders Presentation – Samson Resources Company – slide 10
    Green River Basin Ft. Union Overview Asset Map Rig Count: Currently operating two rigs Upper, Middle, and Lower Acreage: 39,900 Gross / 32,000 Net Prospective Middle and Lower Prospective Q313 Production: 43 MMcfe/d Operations…
  11. Lenders Presentation – Samson Resources Company – slide 11
    Mid-Continent / East Texas Operations Snapshot: Net Acreage: 954,000 YE 2012 Proved Reserves: 1,235 Bcfe Arkoma Basin: Q313 Average Daily Production: 363 MMcfe/d Mature Dry Gas Asset Oil 11%; NGL 16%; Gas 73% Q313 Production: 23…
  12. Lenders Presentation – Samson Resources Company – slide 12
    Anadarko Shelf Granite Wash Overview Granite Wash Asset Map Rig Count: Currently operating two rigs drilling Stacked GW Potential multi-well pads targeting Granite Wash stacked Texas Oklahoma pay Acreage: 63,000 net acres…
  13. Lenders Presentation – Samson Resources Company – slide 13
    Financial Position Balance Sheet Committed to improving leverage Maintain adequate liquidity position Simple capital structure with no near term maturities Access equity capital to delever with a growth focused acquisition or…
  14. Lenders Presentation – Samson Resources Company – slide 14
    Solid Collateral Coverage 330 million of incremental value at 90 Oil and 4.00 Gas PV-10: 6/30/2013 vs. 12/31/2012 PV10 by Category: 6/30/2013 ( in millions) 4,000 PUD 25% 3,500 3,380(1) 330 225 42 3,050 million PDNP 3,000 346…
  15. Lenders Presentation – Samson Resources Company – slide 15
    Pro Forma Financial Position Debt Maturity Profile and Liquidity (MM) 2020 2,250 2019 2018 750 2017 Pro forma borrowings 557 2016 304 253 1,223 RBL Capacity: 1.78B 0 500 1,000 1,500 2,000 2,500 Revolver -…
  16. Lenders Presentation – Samson Resources Company – slide 16
    Current Hedge Position As of December 1, 2013 Gas Swaps Oil Swaps NGL Swaps Year MMBtu/d(1) Swap Price Year Bbls/d(1) Swap Price Year Bbls/d(1) Swap Price 2013 330,000 3.75 2013 17,750 92.82 2013 8,650 35.81 2014 309,000 4.15…
  17. Lenders Presentation – Samson Resources Company – slide 17
    Adjusted EBITDA Reconciliation Three Months Nine Months Twelve Months Ended Ended Ended September 30, 2013 September 30, 2013 September 30, 2013 Net income (loss) 6,657 31,472 (1,096,163) Interest expense, net - - - Provision…

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