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Credit Suite Energy Summit – Jones Energy Inc.

Jones Energy Inc. · Feb 14, 2017 · 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. Credit Suite Energy Summit – Jones Energy Inc. – slide 1
    22nd Annual Credit Suisse Energy Summit February 14, 2017
  2. Credit Suite Energy Summit – Jones Energy Inc. – slide 2
    Jones Energy Overview NYSE Ticker JONE Common Share Price 4.30 Preferred Share Price [1] 76.25 Equity Market Cap (mm) Common Stock 374 Preferred Stock [1] 140 Total Equity Market Cap 514 Enterprise Value (mm) 1,200 Common…
  3. Credit Suite Energy Summit – Jones Energy Inc. – slide 3
    Proven MidCon Operator Merge 27 wells Cumulative Horizontal Wells Drilled Tonkawa 6 wells Drilled 740 Arkoma Woodford 62 wells horizontal wells in MidCon over company history Granite Wash 28 wells Cleveland 626…
  4. Credit Suite Energy Summit – Jones Energy Inc. – slide 4
    Executed on 2016 Goals Reduced debt outstanding by 106 million through bond buybacks Improve the Balance Sheet High PV Merge wells delever company over time Liquidity of 280 million [1] Outstanding results from 3 rig program in…
  5. Credit Suite Energy Summit – Jones Energy Inc. – slide 5
    Transformative Merge Acquisition Expands MidCon footprint to STACK/SCOOP Acquisition Initial acquisition of 18,000 net acres primarily in Canadian & Grady Counties, OK for 136.5mm Western Anadarko Basin Cleveland Since…
  6. Credit Suite Energy Summit – Jones Energy Inc. – slide 6
    Merge Highlights Significant Transformative BestinClass Upside Transaction Returns Potential Provides scalable Welllevel returns among Multiple benches provide footprint in coveted the best in lower 48 true stacked pay…
  7. Credit Suite Energy Summit – Jones Energy Inc. – slide 7
    Industry View of STACK/SCOOP Play Play boundaries driven by geography, not geology Stratigraphic Column Oswego Pennsylvanian STACK Cherokee JONE Acreage in CANA Morrow Merge Area Springer OKC Chester Mississipian…
  8. Credit Suite Energy Summit – Jones Energy Inc. – slide 8
    Jones View of STACK/SCOOP Play Woodford productive fairway is continuous from north to south Jones acreage is in the heart of productive fairway Stratigraphic Column Oswego Pennsylvanian Cherokee Meramec/Sycamore Fairway…
  9. Credit Suite Energy Summit – Jones Energy Inc. – slide 9
    Stacked Pay Potential with Four Targets Acquisition Acreage Key Acreage Attributes North STACK SCOOP South Stacked pay potential CHESTER SHALE Highquality Woodford shale Top Seal Primary initial target MERAMEC Oil rich…
  10. Credit Suite Energy Summit – Jones Energy Inc. – slide 10
    Jones View: Quality Over Quantity Woodford Productive Fairway Reservoir Quality Index based on STACK Reservoir Quality Index (RQI) Map proprietary petrophysical analysis Identified key reservoir attributes that predict well…
  11. Credit Suite Energy Summit – Jones Energy Inc. – slide 11
    Compelling Recent Well Results 1 Cimarex (9/2015) 10 Eagle Exploration (1/2016) Gary 1H3601X Terry M 0504 11H IP30: 1,180 BOE/D (52% oil) 8 IP30: 926 BOE/D (75% oil) 13 2 Cimarex (9/2014) CANADIAN OKLAHOMA 11 Vitruvian (12/2015)…
  12. Credit Suite Energy Summit – Jones Energy Inc. – slide 12
    Resource Attracting Top Operators with Upside Potential Majority of acreage in oil window JONE Acreage Phase Boundary 9 industry rigs running in the Merge CANADIAN Active Industry Rigs NFX, MRO, CLR, XEC, CHK, LINN, and JONE…
  13. Credit Suite Energy Summit – Jones Energy Inc. – slide 13
    Cleveland Asset Supports the Base Maintaining 3rig program in 2017 Cleveland still highly economic, competes for capital with Merge at current strip pricing Flexibility to reallocate capital if necessary 3Q16 addition of 25,000 net…
  14. Credit Suite Energy Summit – Jones Energy Inc. – slide 14
    Drilling Faster than Ever in the Cleveland 50% decrease in Cleveland AFE since yearend 2014 Vendor cost reductions and efficiency gains have resulted in savings Broken all previous drilling records since resuming Cleveland drilling…
  15. Credit Suite Energy Summit – Jones Energy Inc. – slide 15
    BestinClass Operating Costs YTD 3Q16 LOE decreased 27% from YTD 3Q15 Significant savings realized due to operational efficiencies and bid reductions Continues to be in a leader among peer group average LOE LTM LOE per Boe…
  16. Credit Suite Energy Summit – Jones Energy Inc. – slide 16
    Portfolio of Outstanding Returns Significant PV10 uplift for Merge well relative to Cleveland well Single well IRRs of 6090% at current strip and PV10 of 511 million Outstanding Returns at Current Strip 12 100% 90% 10 80%…
  17. Credit Suite Energy Summit – Jones Energy Inc. – slide 17
    2017 Operating Plan and Capital Budget Plan to drill 26 gross (17 net) wells in 2017 Capital Budget the Merge ( in millions) Merge Capital Expenditures Initiate Sycamore drilling in 2Q of Drilling and Completion 2017 JONE Operated…
  18. Credit Suite Energy Summit – Jones Energy Inc. – slide 18
    Jones Energy: Premier MidCon Pure Play Decades of MidCon Operating Expertise Premier Asset Balance Sheet & Base with Liquidity to MultiYear Facilitate Growth Inventory 18
  19. Credit Suite Energy Summit – Jones Energy Inc. – slide 19
    APPENDIX
  20. Credit Suite Energy Summit – Jones Energy Inc. – slide 20
    2017 Guidance and 1Q Production Guidance 2017E 1Q17E Total Production (MMBoe) 7.6 8.4 1.6 1.7 Average Daily Production (MBoe/d) 20.7 23.0 17.0 18.0 Crude Oil (MBbl/d) 5.7 6.3 Natural Gas (MMcf/d) 51 57 NGLs (MBbl/d) 6.5 7.2…
  21. Credit Suite Energy Summit – Jones Energy Inc. – slide 21
    Woodford Oil Window Type Curve 5,000 Lateral Oil Gas NGLs Total IP Bbl/d Mcf/d Bbl/d Boe/d 30 Day IP 420 1,140 170 780 90 Day IP 375 1,041 157 706 Production Profile Cum. Production MBbl MMcf MBbl MBoe 1 year 97 282 42 186 1,000 1,000…
  22. Credit Suite Energy Summit – Jones Energy Inc. – slide 22
    Western Anadarko Basin Inventory Current Target Hugoton Formations Lower Permian Wolfcampian Brown Dolomite Chase / Council Grove Tonkawa Cleveland play is Admire Sandstone 2 million acres Upper Virgil Lease Acreage:…
  23. Credit Suite Energy Summit – Jones Energy Inc. – slide 23
    Current Hedge Position 1Q17 2Q17 3Q17 4Q17 2017 2018 2019 Oil Hedges Swaps Sold (MBbl) 428 440 390 345 1,603 1,817 219 Price (/Bbl) 68.44 66.93 65.09 66.76 66.85 62.84 64.96 Offset Swaps Purchased (MBbl)[1] 803 219 Price (/Bbl)…
  24. Credit Suite Energy Summit – Jones Energy Inc. – slide 24
    NGL Hedge Position Detail 1Q17 2Q17 3Q17 4Q17 2017 Mont Belvieu NGL Swaps (MBbl) Propane 30 30 30 30 120 Iso Butane 3 3 1 7 Butane 12 12 12 12 48 Natural Gasoline 12 12 12 12 48 MB NGLs 57 57 55 54 223 Mont Belvieu NGL Swap Prices…
  25. Credit Suite Energy Summit – Jones Energy Inc. – slide 25
    NGL Barrel Component Detail Cleveland Conway Cleveland Natural Gasoline 14% (79% of forecasted 2017 NGL production) Iso Butane 5% Butane 13% Basket Ethane 31% Propane 37% Propane 37% Butane 13% Ethane 31% Iso Butane 5%…
  26. Credit Suite Energy Summit – Jones Energy Inc. – slide 26
    Corporate Structure Metalmark, Class B Common Stock Class A Common Stock Management 29.8 million shares 57.2 million shares Public & Other 34% of voting power in 66% of voting power in Jones Energy, Inc. Jones Energy, Inc.…

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