Solid Execution Generated 4Q16 sequential production growth Operational Improved well returns and asset value in all programs Success Lowered cash operating costs Returned Wolfcamp to growth 255MM of Adjusted EBITDAX in 4Q16…
Delivered on 2016 Expectations 2016 Guidance 2016 Results Total production (MBoe/d) 85.5 87.5 87.6 Oil production (MBbls/d) 46 47 46.6 Capital program (MM) 495 488 Wells completed 95 98 Adjusted cash operating costs (/Boe)…
Improved Financial Profile Maturity Profile (MM) As of 12/31/15 2,000 4.9 billion Reduced total debt by 1billion 1,500 since YE15 1,000 2,000 Significantly extended maturities 500 1,222 800 497 350 0 Retired or…
Reserves and Inventory Proved oil and gas reserves Drilling inventory 432 MMBoe in proved reserves 5,200 drilling locations Down 20% from 2015, driven by 2,900 in Wolfcamp Haynesville sale, impact of the SECs five-year development…
4Q16 Operations Summary (MM) Equivalent Natural Completed Production Oil NGLs Gas Program Wells (MBoe/d) (MBbls/d) (MBbls/d) (MMcf/d) Wolfcamp 72 Eagle Ford 5 37.7 22.2 8.3 43 Eagle Ford Wolfcamp 21 27.4 11.4 7.7 50 25…
Efficient Cost Structure Gross Well Cost1 Wolfcamp (MM) 6.2 5.3 4.6 3.8 Adjusted Cash Operating Costs, Excluding Haynesville2 (MM) FY'14 FY'15 FY'16 Best 2H'16 119 Well 111 14 7 45 42 Eagle Ford 7.2 5.8 4.2 28…
Leading Hedge Program Hedge Summary 2017 2018 Oil volumes (MMBbls) 12.8 3.3 Average floor price (/Bbl) 61.66 60.00 Natural Gas volumes (TBtu) 32.0 11.0 Average floor price (/MMBtu) 3.28 3.11 2017: Oil: 75% estimated oil floored…
2017 Outlook 2017 Oil production (MBbls/d) 45 49 Total production (MBoe/d) 75 82 Oil & gas capital (MM)1 Oil production growth from 2H16 Wolfcamp 245 325 Eagle Ford 260 270 Altamont 125 135 Includes two Wolfcamp rigs FY17…
Asset Portfolio Delivers Results Wolfcamp Oil production growth volumes up 37% from 4Q15 Improved well performance, upgraded type curve One drilling rig in 2016 and completed 44 wells Eagle Ford Increased efficiencies in high…
Wolfcamp: Recent Success Improved well performance 140,000 120,000 Increased returns Cumulative Oil Production, Bbl 100,000 Higher NPV per well 80,000 Reduced capital and operating costs 60,000 40,000 University…
Wolfcamp: JV Key Terms EPE Wolfcamp JV Key Terms 150 well program (two 75 well Primary objectives: tranches) Increases returns First wells online in Jan17 Accelerates activities Wellbore only interest Illuminates acreage value…
Wolfcamp: JV Increases Program Value EPE Improved Returns on Capital 90% Enhances program economics (single 80% well IRRs from 57% to 80%)(1) 70% 60% BTAX IRR 50% 40% Increases near term cash flow and 30% production…
2016 Results and 2017 Outlook March 2, 2017
Appendix 16
2016 Completed Wells By Quarter Program 1Q 2Q 3Q 4Q FY Eagle Ford 16 8 10 5 39 Wolfcamp 5 5 13 21 44 Altamont 2 2 7 4 15 Total Company 23 15 30 30 98 17
Updated Type Well Economics Drilling locations…
YE 2016 PV-10 and PV-10 Reconciliation In this presentation, we calculate the PV-10 of oil and gas reserves. The PV-10 of oil and gas reserves is defined as the value of our proved reserve amounts at December 31, 2016, calculated using…
Loading...
