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Johnson Rice 2014 Energy Conference – Energen Corp.

Energen Corp. · Oct 1, 2014 · 26 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 2014 Energy Conference – Energen Corp. – slide 1
    Wolfcamp Cline Wolfberry 3rd Bone Spring Lower Spraberry Exploring & Developing the Midland and Delaware Basins New Mancos Oil Play Emerging in San Juan Basin Johnson Rice 2014 Energy Conference September 30-October 1, 2014
  2. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 2
    ENERGEN: PURE-PLAY E&P Domestic asset base with Permian Basin focus Emerging oil play in San Juan Basin 2.4 billion BOE of 3P and Contingent Resources in Wolfcamp and Cline shales in Permian Basin Substantial drilling potential in…
  3. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 3
    ENERGEN PROFILE NYSE:EGN SharesOutstanding(08.01.14) 73.2 MM 3P Reserves/ Contingent Resources MarketCap(08.26.14) 5.8 B at YE2013 YE2013E&PDebt 1.7 B YE2014eDebt 1.1 B PV10Pretax(12.31.13) 4.8 B PV10Aftertax(12.31.13) 4.0 B CO…
  4. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 4
    DOUBLE-DIGIT OIL/NGL PRODUCTION GROWTH (MMBOE) (MMBOE) 10.0 9.6 2011 2012 2013 2014eMidpoint 9.1 25.4 8.3 23.3 4.1 7.6* 21.2 3.2 2.6 17.5 5.6 5.1 5.0 4.8 15.6 2.2 4.7 14.8 11.6 4.4 1.9 10.4 3.9 1.8 8.7 3.5 6.3 2.9 4.7…
  5. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 5
    3P/CONTINGENT RESOURCES = 3.3 BILLION BOE ProvedReservesbyProduct 3PReserves/ContingentResourcesbyArea (MMBOE) 343 346 348 303 54 56 63 18% 258 41 4% 44% 30 130 103 155 165 78 34% 160 150 159 135 120 Delaware 2009 2010…
  6. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 6
    2014 CAPITAL, DRILLING/DEVELOPMENT PLANS CapitalInvestment: 1.4B MidlandBasin MidlandBasin: 870MM Wolfcamp/Cline Wolfberry Facilities/Other DelawareBasin: 415MM 665MM 125MM 80MM 76netwells 50netwells CentralBasin: 43MM 6rigs 2rigs…
  7. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 7
    2014 GUIDANCE (rev. 7.30.14) E&PAfterTaxCashFlows Exploration&Production (MM) Assumed pricesunhedgedvolumesforROY: 833 855 4.50gas95oil92NGL 795 CY14Est.E&Pexpenses/BOE*: 699 BaseLOE/M&T: 10.25 10.50 630 622 AdValorem&…
  8. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 8
    PRODUCTION OUTLOOK 2014ProductionbyQuarter PDPDeclineRatesOverTime (MMBOE) (basedonYE13PDPreserves) 6.9 6.3 5Year 10Year 20Year 6.0 6.1 (8.0) 2.1 (9.3) (8.7) 2.0 (9.2) 2.1 2.1 (10.6) (10.7) (11.8) (13.4) 4.8 4.3 4.0…
  9. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 9
    HEDGES MINIMIZE PRICE RISK 77%of2014eROYproductionhedged 2H14SensitivitiestoPrices CY14ecashcost(continuingoperations):19.40/barrel CY14enetincomebreakeven(continuingops): OIL 41.00/barrel 555,000forevery1changefrom95/barrel 2H14…
  10. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 10
    Legacy Assets Eastern Shelf Major Acquisitions, 200912 Permian NEW MEXICO Lea Yoakum Cline Play TEXAS Midland Basin Northwest Shelf ( 87,000 net acres) Overview Eddy Wolfberry Play Borden Delaware Gaines Dawson…
  11. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 11
    MIDLAND BASIN WOLFCAMP, CLINE POTENTIAL 2,475PotentialWolfcamp/ClineLocations* Potential Wells* Net 4,400 6,700 7,500 Acres Martin Co. Glasscock Co. 8,010 Upper Spraberry 6,113 8,523 Lower Spraberry 6,619 9,328 Dean 7,525 9,550…
  12. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 12
    Scurry MIDLAND BASIN Wolfcamp Play: Blue Outline Gaines Borden Dawson Howard 2014EXPLORATORYPROGRAM Martin Mitchell Andrews Wolfcamp 17gross(16net)wells Cline Play: Red Outline 4disclosed;4drilling/completing/testing…
  13. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 13
    Dawson Borden Howard MIDLAND BASIN Martin Mitchell RESULTS 2014 SmithSN4837101H(ABench) Peak24hourIP: 955boepd (84%oil) Peak30dayAvg: 868boepd (84%oil) Completedlaterallength: 6,930 Glasscock Sterling Midland Wilbanks…
  14. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 14
    DELAWARE WOLFCAMP POTENTIAL TopofDelawareMtn.Group 3,115Potential 7,550 Locations* 8,450 Potential Net 9,100 Avalon Wells* Acres 9,600 10,600 1,270 106,000 1,165 102,600 11,900 Wolfcamp A 680 56,200 Wolfcamp B Wolfcamp C…
  15. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 15
    New Mexico 3rd Bone Spring Area Red Outline DELAWARE BASIN Texas Loving Winkler WOLFCAMP Winchester 57-10 1H 2014exploratoryprogram: University 28-21 1H 15gross(14net)wells Langley 2-36 1H Benton 3-12 1H…
  16. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 16
    DELAWARE BASIN WOLFCAMP RESULTS 2014 University16171H(BBench) Loving Winkler Peak24hourIP:1,896boepd (78%oil) Peak30dayAvg:1,081boepd (74%oil) Completedlat.length:4,808 Winchester 57-10 1H University 28-21 1H Langley2361H Benton…
  17. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 17
    SAN JUAN BASIN OIL POTENTIAL MANCOSOILPLAY DryGasPhase 75,000netacresinoilwindow 4gross(2net)wellsin2014 Colorado 50%nonoperated New Mexico SouthcentralSJB Firstresultsveryencouraging Likelytorunrigin2015 WetGasPhase…
  18. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 18
    REASONS TO INVEST IN EGN PureplayE&Pcompany PermianBasinfocus Substantialunrisked drillinginventoryin Wolfcamp/ClineshaleinMidlandand Delawarebasins MancosoilpotentialinSanJuanBasin Additionalpotentialinotherhorizontalplays…
  19. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 19
    ATCF RECONCILIATION TO GAAP ENERGEN YearsEnded12/31 ( in millions) 2010 2011 2012 2013 2014e Net income (GAAP)* 291 260 254 205 146 168 DD&A 248 284 441 558 545 545 Deferred income taxes, net 134 129 124 84 93 93 Exploratory…
  20. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 20
    MIDLAND BASIN WOLFCAMP, CLINE POTENTIAL ByCounty Wolfcamp A Wolfcamp B Wolfcamp C Cline Net Net Net Net Locations NetAcres Locations NetAcres Locations NetAcres Locations NetAcres Glasscock 242 23,700 237 25,000 238 24,700 283 30,000…
  21. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 21
    MIDLAND BASIN WOLFCAMP RESULTS, 2013-14 Peak24HourIP Peak30dayAverage Completed Frac Well County Zone Lateral Stages Oil NGL Gas Oil NGL Gas Length Boepd Boepd (Bopd) (Bpd) (Mcfd) (Bopd) (Bpd) (Mcfd) Lavaca38101H Glasscock A…
  22. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 22
    DELAWARE WOLFCAMP POTENTIAL ByCounty Wolfcamp A Wolfcamp B Wolfcamp C Net NetAcres Net NetAcres Net NetAcres Locations Locations Locations Loving 138 11,400 143 11,400 136 10,800 Ward 321 26,700 284 26,000 56 4,900 Winkler 264…
  23. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 23
    DELAWARE BASIN WOLFCAMP RESULTS, 2013 PROGRAM Peak24HourIP Peak30dayAverage Completed Frac Well County Zone Lateral Stages Oil NGL Gas Oil NGL Gas Length Boepd Boepd (Bopd) (Bpd) (Mcfd) (Bopd) (Bpd) (Mcfd) University28211H…
  24. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 24
    DELAWARE BASIN WOLFCAMP RESULTS, 2014 PROGRAM Peak24HourIP Peak30dayAverage Completed Frac Well County Zone Lateral Stages Oil NGL Gas Oil NGL Gas Length Boepd Boepd (Bopd) (Bpd) (Mcfd) (Bopd) (Bpd) (Mcfd) University16171H Ward…
  25. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 25
    EXPLORATORY LOCATIONS 2014 PROGRAM (GROSS WELLS) Lower County WCA WCB WCC TBD Cline Spraberry Ward 1 2 0 1 Note: 2w/7,500lat Winkler 1 0 0 0 Reeves 3 4 2 1 TOTAL DELAWARE 5 6 2 2 Glasscock 2 2 4 1 0 Note:3w/10,000lat Martin 4 2…
  26. Johnson Rice 2014 Energy Conference – Energen Corp. – slide 26
    FOR MORE INFORMATION JulieS.Ryland VicePresident InvestorRelations 2053268421 jrylandenergen.com www.energen.com 26

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