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Corporate Presentation – Swift Energy Co.

Swift Energy Co. · May 1, 2014 · 32 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. Corporate Presentation – Swift Energy Co. – slide 1
    Corporate Presentation May 2014 1
  2. Corporate Presentation – Swift Energy Co. – slide 2
    Swift Energy An Eagle Ford Story High quality Eagle Ford position primed to deliver consistent production and reserves growth Developing high value Eagle Ford acreage generates: Cash Flow Growth Earnings Growth Lower Financial…
  3. Corporate Presentation – Swift Energy Co. – slide 3
    A Focused Approach Deploying 80% of capital in the Eagle Ford Shale in South Texas Balanced project portfolio includes: Crude oil and liquids rich projects High return natural gas projects Entered into a joint venture in Webb…
  4. Corporate Presentation – Swift Energy Co. – slide 4
    Recent Achievements South Texas Development Fasken JV Louisiana Assets Financial Overview Summary 5
  5. Corporate Presentation – Swift Energy Co. – slide 5
    Recent Achievements 10-10-10 plan review Increased well IPs and EURs in South Texas by 10% Reduced drilling and completion costs in South Texas by 10% First Quarter 2014 production of 32,700 Boe/d First quarter 2014 production…
  6. Corporate Presentation – Swift Energy Co. – slide 6
    Swift Energy Operating Areas Total Company 2013 Production: 32.2 MBoe/d 2013 YE Proved Reserves: 219.2 MMBoe Central Louisiana Area* 2013 Production: 2.5 MBoe/d 2013 YE Proved Reserves: 30.2 MMBoe Masters Burr Ferry Creek…
  7. Corporate Presentation – Swift Energy Co. – slide 7
    South Texas McMullen County SMR LaSalle County North AWP Artesia Wells South AWP Sun TSH Webb County Eagle Ford Play Fasken Hydrocarbon Types MEXICO OIL CONDENSATE GAS 8
  8. Corporate Presentation – Swift Energy Co. – slide 8
    2012 Model*vs. Average 2013 IPs (Boepd)** 3,000 2012 2013 Actuals +62% 2,500 2,547 2,000 MBoe 1,500 1,568 +33% +44% 1,000 1,173 1,153 880 800 500 - AWP Oil (McMullen) Artesia Oil & Cond. Fasken Gas (Webb) Condensate…
  9. Corporate Presentation – Swift Energy Co. – slide 9
    Wellbore Placement Critical for Success As Drilled Ideal Plan Top of Lower EF Target Zone Buda PCQ EF 3H PCQ EF 7H 160,000 1 Year Cumulative Production 140,000 120,000 100,000 PCQ 3H IP: 502 Boe/d BOE 80,000 PCQ 7H…
  10. Corporate Presentation – Swift Energy Co. – slide 10
    Drilling Technologies - Eagle Ford Drilling Well Cost Strengths 5.0 2012 2013 Current Technical Limits Target and goal 4.5 PCQ - 2.6 MM setting drive Fasken - 2.4 MM SMR - 2.5 MM efficiencies 4.0 3.5 Enhanced BHA designs and…
  11. Corporate Presentation – Swift Energy Co. – slide 11
    Texas Average Completion Cost / Stage Logging horizontal Cost/Stage Total Proppant lbs/Well laterals allows Number of Stages/Well 7.6 selective stimulation MM of the highest quality 339K rock 19 260K Grouping clusters 5.1 16…
  12. Corporate Presentation – Swift Energy Co. – slide 12
    Fasken Eagle Ford Outstanding Reservoir Rock Porosity TOC Thickness Favorable rock property combination yields: 15 - 23 MM/D IP (90 Day Avg.) 10 15 Bcf EUR 13
  13. Corporate Presentation – Swift Energy Co. – slide 13
    Fasken BDC 10H Well IP 23 MMcf/d Calculated Gas Rate (Mscf/d) Flowing Casing Pressure (Psi) 100,000 10,000 7,000 Lateral, 21 Stages, 8.7 MM Lbs. Sand 1,000 12/1/2013 1/1/2014 14
  14. Corporate Presentation – Swift Energy Co. – slide 14
    South Texas Focused on Highest Value Acreage Position Efficiencies are Improving Margins 3-D Seismic facilitates proper placement of laterals Logging well laterals results in: Optimized placement of frac stages Improved frac…
  15. Corporate Presentation – Swift Energy Co. – slide 15
    Fasken Eagle Ford Joint Venture Saka Energi Indonesia (Saka) participates in development of approximately 8,300 acres of Fasken area Eagle Ford Shale in Webb County, Texas Saka to pay Swift Energy 175 MM in total cash consideration…
  16. Corporate Presentation – Swift Energy Co. – slide 16
    Fasken Eagle Ford Joint Venture Implied 8/8ths valuation of 500 MM for Fasken properties Transaction reduces financial leverage and maintains capital spending levels to support growth in 2015 Partnership opens doors for other joint…
  17. Corporate Presentation – Swift Energy Co. – slide 17
    Texas Largest Gas Producers* (Based on 2013 Average Operated Production Mcf/d) 1 10 Top 20** 20 1Q 2015 Swift Top 25** Rank GOAL Ranked 1Q 2014 30 31 136,000 91,297 Mcf/d Mcf/d 40 50 2013 2014 2015 * According to…
  18. Corporate Presentation – Swift Energy Co. – slide 18
    South Texas Focus Will Improve Cost Structure 1Q14 Taxes, 1Q14 Transportation & Area LOE/Boe Processing Costs/Boe South Texas 6.16 3.55 Central Louisiana 11.83 9.16 Southeast Louisiana 21.44 10.99 Total Corporate 8.58 4.92 19
  19. Corporate Presentation – Swift Energy Co. – slide 19
    Lake Washington Base Production 14,000 12,000 2011 40% Decline 10,000 Boepd 8,000 6,000 4,000 2,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 14,000 12,000 2012 38% Decline 10,000 Boepd 8,000 6,000 4,000…
  20. Corporate Presentation – Swift Energy Co. – slide 20
    Lake Washington Drilling Prospects North Flank All Depths 74 Prospects 25 to 30 MMBoe Potential West Flank East Flank All Depths 32 Prospects - All AllDepths Depths 29 29 Prospects Prospects 23 to 51 MMBoe Potential…
  21. Corporate Presentation – Swift Energy Co. – slide 21
    Central Louisiana Burr Ferry: + 140,000 acres Burr Ferry Masters Creek + 65,000 mineral acres + 1,400 Bopd net production Horizontal Austin Chalk B development Horizontal Lower Wilcox development Masters Creek: + 140,000 acres…
  22. Corporate Presentation – Swift Energy Co. – slide 22
    Financial Overview 23
  23. Corporate Presentation – Swift Energy Co. – slide 23
    Pro Forma Capitalization in Millions in Millions in Millions Dec. 31, 2013 Mar. 31, 2014 Mar. 31, 2014 Actual Actual Pro - Forma* Cash 3 0% 0 0% 0 0% Bank Borrowings 265 12% 298 13% 148 7% 71/8% Sr Notes due 2017 250 12% 250 11%…
  24. Corporate Presentation – Swift Energy Co. – slide 24
    2014 Capital Expenditure Forecast Historical Spending 2014 Forecast by Activity Acquisition Prospect 350 MM-400 MM** MM Exploration Development* Prospect 800 Costs/Seismic Facilities 700 Discretionary 600 500 400 300…
  25. Corporate Presentation – Swift Energy Co. – slide 25
    Growing the Eagle Ford and Improving Performance Aggressive Eagle Ford development will afford more predictable results, higher quality earnings and consistent cash flow growth Developing high value Eagle Ford acreage Focus on high…
  26. Corporate Presentation – Swift Energy Co. – slide 26
    Appendix 27
  27. Corporate Presentation – Swift Energy Co. – slide 27
    Fasken Swift Leasehold Webb County Net Acres 8,302 Avg. Working Interest* 64% Avg. Net Revenue Interest 80% Avg. Well Spacing 660' (114 acres) Remaining Drilling Locations 58 Well Economics (90/Bbl., 4.50 Mcf)** EURs (Bcf) 10 - 15 IP's…
  28. Corporate Presentation – Swift Energy Co. – slide 28
    AWP Eagle Ford Oil Swift Leasehold McMullen County Net Acres 15,984 Avg. Working Interest 95% Avg. Net Revenue Interest 72% Avg. Well Spacing 440' (50 acres) Remaining Drilling Locations 133 Well Economics (90/Bbl., 4.50 Mcf)* EURs…
  29. Corporate Presentation – Swift Energy Co. – slide 29
    AWP Eagle Ford Condensate Swift Leasehold McMullen County Net Acres 2,850 Avg. Working Interest 50% Avg. Net Revenue Interest 38% Avg. Well Spacing 660' (60 acres) Remaining Drilling Locations 32 Well Economics (90/Bbl., 4.50 Mcf)*…
  30. Corporate Presentation – Swift Energy Co. – slide 30
    AWP Eagle Ford Gas Swift Leasehold McMullen County Net Acres 5,500 Avg. Working Interest 50% Avg. Net Revenue Interest 38% Avg. Well Spacing 660' (80 acres) Remaining Drilling Locations 50 Well Economics (90/Bbl., 4.50 Mcf)* EURs (Bcf)…
  31. Corporate Presentation – Swift Energy Co. – slide 31
    Artesia Eagle Ford Oil Swift Leasehold LaSalle County Net Acres 4,468 Avg. Working Interest 100% Avg. Net Revenue Interest 75% Avg. Well Spacing 440' (50 acres) Remaining Drilling Locations 41 Well Economics (90/Bbl., 4.50/Mcf)* EURs…
  32. Corporate Presentation – Swift Energy Co. – slide 32
    Artesia Eagle Ford Condensate Swift Leasehold LaSalle County Net Acres 5,027 Avg. Working Interest 100% Avg. Net Revenue Interest 75% Avg. Well Spacing 440' (50 acres) Remaining Drilling Locations 41 Well Economics (90/Bbl., 4.50/Mcf)…

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