Investor Presentation November 14, 2016 Energy Corporation (NYSE: REN)
Company highlights 3Q16 average production was 16,085 Boe per day Permian Basin production was 61% of Company total Optimizing completions while restraining costs 3Q16 LOE per Boe declined 37% year over year and 23% sequentially…
Resolute Energy overview Reeves County 20,000 gross (16,300 net) acres Drilling mid-length and long laterals in Wolfcamp A and B 300+ gross operated locations, total Aneth Field potential locations of 600+ (96% avg WI) properties…
Delaware Basin Reeves County Appaloosa 10,000 foot lateral Wolfcamp A EURs exceed 2.3 MMBoe Recent IPs exceeded 3,000 Boe per day F&D cost approximately 4.00 per Boe Two-thirds of locations support longer laterals Strong midstream…
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 Peak production data (Boe per day) Lateral Proppant Frac 24 30 60 90 120 150 Name length (million stages hour day day…
Reeves County drilling program 2016 program new drills North Elephant 02 1001H South Elephant 02 1004H Harrison State C20 1402H 80-ac Wolfcamp A offset-stack pilot Appaloosa Renegade U03H Flying Dog 1401BH Renegade L02H North…
Wolfcamp A B development Effective resource recovery Inventory 575 675 of Wolfcamp A and 24 wells/sec 20 wells/sec 300+ wells WCA B reservoir WCB Excellent results in different Wolfcamp A zones support prospect of drilling…
Expanding asset inventory Significant potential beyond Wolfcamp A and B Zone Wells per zone Gross well Successful tests near Resolute acreage Base Upside inventory X - 4 27 X/Y Y - 4 27 D UWCA 8 - 124 Development LWCA 4 4…
Expanding asset inventory Significant potential beyond Wolfcamp A and B Reeves County Wolfcamp gross inventory Current development inventory (300+ locations) Deep Wolfcamp upside X/Y upside LWCA downspacing upside 11
Concentrated acreage, longer laterals Not all locations are created equal Standard section 80% Mustang locations 40% Appaloosa locations 5,000 foot laterals 7,500 foot laterals 10,000 foot laterals 80 acre 1 mile 80 acre 80…
Type curve economics Appaloosa 10,000 foot lateral Cumulative production (MBoe) vs month1 IRR D&C cost, product price2 Development type well Wolfcamp A Development type well economics1, 3, 4 Peak 30-day (gross Boe) EUR (gross…
Type curve economics Mustang 7,500 foot lateral Cumulative production (MBoe) vs month1 IRR D&C cost, product price2 Development type well Wolfcamp A Development type well economics1, 3, 4 Peak 30-day (gross Boe) EUR (gross MBoe)3…
Organic production growth1 1. Estimated total company production based on drilling scenarios and utilizing current type curves 15
Aneth Field overview Large stable cash flowing asset Aneth Field 1.5 billion barrels OOIP Produced 444 MMBbl of oil through July 2016 (31% recovery) Ongoing successful CO2 flood CO2 flood opportunities remain across the field…
Aneth derisking projects Low cost/high potential projects Multiple low cost projects that could de-risk large upside: Tap CO2 in Leadville formation 1,200 feet below current producing zone CO2 shows in Leadville wells in and around…
Capitalization and improving credit metrics Pro forma Capitalization table ( million) as of 9/30/16 2 Revolving credit facility 31.0 Secured term loan facililty 128.3 8.5% senior unsecured notes due 2020 400.0 Total debt 559.3…
Guidance 2016 guidance Current Projected production Annual MBoe 4,978 5,124 Boe per day 13,600 14,000 Midpoint (Boe per day) 13,800 Projected costs Lease operating expense ( million) 60 70 General and administrative ( million) 23…
Company highlights 3Q16 average production was 16,085 Boe per day Permian Basin production was 61% of Company total Optimizing completions while restraining costs 3Q16 LOE per Boe declined 37% year over year and 23% sequentially…
Appendix
Pricing assumptions October 31, 2016 strip Year 2016 2017 2018 2019 2020 Thereafter Oil (/Bbl) 46.86 49.73 52.01 53.25 54.19 55.06 Gas (/MMBtu) 3.03 3.15 3.03 2.94 2.96 3.05 Internal Year 2016 2017 2018 2019 2020 Thereafter Oil…
Current hedge positions Current oil derivative positons Bbl/day % Hedged utilizing Swap Collars Options Term hedged Swaps Collars Options strike Floor Cap Sold Call 2016 9,825 67% 33% 0% 80.11 45.00 51.08 - 2017 4,593 33% 67% 0%…
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