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January 2017 Investor Presentation – Resolute Energy Corp

Resolute Energy Corp · Jan 11, 2017 · 24 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 2017 Investor Presentation – Resolute Energy Corp – slide 1
    Investor January 11, presentation 2017
  2. January 2017 Investor Presentation – Resolute Energy Corp – slide 2
    Recent Company developments Page 3 Year-end 2016 exit rate of more than 20,000 Boe per day 2017 organic production growth of approximately 85% Strong results from recent Delaware Basin completions 80-acre Mustang pair current…
  3. January 2017 Investor Presentation – Resolute Energy Corp – slide 3
    Resolute Energy overview Page 4 Aneth Field 44,400 gross (28,300 net) acres1 EOR asset in Paradox Basin Q316 production of 6,250 Boe per Aneth Field day (93% oil) properties Delaware Basin 20,000 gross (16,300 net) acres1…
  4. January 2017 Investor Presentation – Resolute Energy Corp – slide 4
    Delaware Basin Reeves County Page 5 Appaloosa 10,000 foot lateral Wolfcamp A EURs exceed 2.3 MMBoe Recent IPs exceeded 3,000 Boe per day Wells pay out in less than a year F&D cost approximately 4.00 per Boe Resolute…
  5. January 2017 Investor Presentation – Resolute Energy Corp – slide 5
    Mustang and Appaloosa Outstanding well results Page 6 Cimarex Resolute Resolute Resolute Greathouse C21-6 1H North Goat 2201H North Elephant 1001H South Elephant 1004H IP30: 1,792 Boe/day IP30: 2,215 Boe/day IP30: 2,224 Boe/day…
  6. January 2017 Investor Presentation – Resolute Energy Corp – slide 6
    Wolfcamp A horizontal well results Peak data Page 7 Well information Drilling and completion data Production data (Boe per day) Lateral Proppant Frac 24 30 60 90 120 150 Name length (million stages hour day day day day day…
  7. January 2017 Investor Presentation – Resolute Energy Corp – slide 7
    2017 planned drilling schedule Two rig program Page 8 Resolute acreage Planned location Currently drilling Appaloosa 21 16 22 13 18 14 Mustang 17 19 8 9 20 11 3 12 1 15 10 4 6 2 5 7 1 Harpoon L05H 6…
  8. January 2017 Investor Presentation – Resolute Energy Corp – slide 8
    Wolfcamp A-B development Effective resource recovery Page 9 575 675 of Wolfcamp A Inventory and B reservoir 20 wells/sec 300+ wells WCA Excellent results throughout Wolfcamp A, WCB opportunity to drill 24…
  9. January 2017 Investor Presentation – Resolute Energy Corp – slide 9
    Expanding asset inventory Significant potential Page 10 Zone Wells per zone Gross well Nearby successful tests Base Upside inventory X - 4 27 X/Y Y - 4 27 D Development UWC A 8 - 124 LWC A 4 4 126 X/Y WCB 8 - 125 C…
  10. January 2017 Investor Presentation – Resolute Energy Corp – slide 10
    Expanding asset inventory Significant potential Page 11 Current development inventory (300+ locations) Wolfcamp C and D potential Wolfcamp X/Y potential Lower Wolfcamp A downspacing potential
  11. January 2017 Investor Presentation – Resolute Energy Corp – slide 11
    Concentrated acreage, longer laterals Page 12 Standard section Mid-length lateral Long lateral 5,000 foot lateral 7,500 foot laterals 10,000 foot laterals 1 mile 80 acre 80 acre 80 acre 1.5 miles spacing spacing…
  12. January 2017 Investor Presentation – Resolute Energy Corp – slide 12
    Type curve economics Appaloosa long lateral Page 13 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) 2,605 EUR…
  13. January 2017 Investor Presentation – Resolute Energy Corp – slide 13
    Type curve economics Mustang mid-length lateral Page 14 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) 1,499…
  14. January 2017 Investor Presentation – Resolute Energy Corp – slide 14
    Organic production growth Page 15 Two rig drilling program in 2017 and 2018
  15. January 2017 Investor Presentation – Resolute Energy Corp – slide 15
    Aneth Field overview Large, stable, cash-flowing asset Page 16 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…
  16. January 2017 Investor Presentation – Resolute Energy Corp – slide 16
    Capitalization and improving credit metrics Page 17 Significantly reshaped balance sheet Issued 122.4 million of common and preferred equity, and drew down 30 million from revolver to acquire incremental Delaware Basin interests…
  17. January 2017 Investor Presentation – Resolute Energy Corp – slide 17
    Guidance Page 18 2017 guidance Projected production Annual MBoe 8,700 10,200 Boe per day 24,000 28,000 Midpoint (Boe per day) 26,000 Projected costs ( million) Lease operating expense 90 105 General and administrative 25 29…
  18. January 2017 Investor Presentation – Resolute Energy Corp – slide 18
    19 Appendix
  19. January 2017 Investor Presentation – Resolute Energy Corp – slide 19
    Pricing assumptions Page 20 60/Bbl Assumes 3.25/Mcf Strip + Assumes December 30, 2016 strip plus 5/Bbl flat from 2017+ 5/Bbl and 0.10/Mcf December 30, 2016 strip Year 2017 2018 2019 2020 2021 Thereafter Oil (/Bbl) 56.19…
  20. January 2017 Investor Presentation – Resolute Energy Corp – slide 20
    Current hedge positions Page 21 Current oil derivative positions Bbl/day Percent hedged utilizing Swap Collars Options Term hedged Swaps Collars Options strike Sold put Floor Cap sold call 2017 6,342 24% 76% 0% 51.10 40.00 47.55…
  21. January 2017 Investor Presentation – Resolute Energy Corp – slide 21
    Margin and cost structure Page 22 ( in millions, except as noted) 2015 2016 Sales Volume Q4 Q1 Q2 Q3 YTD TTM Total MBoe 946 820 1,080 1,480 3,380 4,326 Revenue 28.5 19.0 35,4 47.4 101.8 130.3 Realized derivative gains 26.6 27.8…
  22. January 2017 Investor Presentation – Resolute Energy Corp – slide 22
    Margin and cost structure per Boe Page 23 ( per Boe) 2015 2016 Q4 Q1 Q2 Q3 YTD TTM Revenue 30.12 30.12 30.14 23.16 32.78 32.04 Realized derivative gains 28.11 33.82 19.03 14.43 20.61 22.25 Adjusted Revenue 58.25 56.98 51.81…
  23. January 2017 Investor Presentation – Resolute Energy Corp – slide 23
    Adjusted EBITDA Page 24 2015 2016 ( in millions) Q4 Q1 Q2 Q3 YTD TTM Net income (loss) (92.2) (85.3) (36.9) (18.9) (141.1) (233.3) Adjustments Interest 21.1 39.3 13.1 13.0 13.2 60.4 Taxes - - - - - - Depletion, depreciation…
  24. January 2017 Investor Presentation – Resolute Energy Corp – slide 24
    Quarterly prices and volume Page 25 2015 2016 Q4 Q1 Q2 Q3 YTD TTM Average Prices: Oil ( per Bbl) 35.46 26.63 39.75 39.55 36.37 36.10 NGL ( per Bbl) 9.99 4.30 7.64 8.61 7.59 8.08 Gas ( per Mcf) 2.15 1.64 1.38 2.49 1.98 2.02…

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