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Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp.

Bill Barrett Corp. · Mar 27, 2017 · 20 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. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 1
    Scotia Howard Weil Energy Conference Scot Woodall March 2729, 2017 President & CEO
  2. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 2
    Bill Barrett Corporation Overview Large, contiguous acreage position within two core basins Focus on improving cost structure has translated into peer leading operating margins Uinta Basin 24,000 net acres Highly efficient…
  3. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 3
    Key Messages Demonstrated execution of focused operational and financial strategy Translates into solid results and strong margins NE Wattenberg generates attractive well economics 47% rate of return at wellhead assuming base…
  4. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 4
    Track Record of Debt Reduction Significant debt reduction accomplished in challenging Net Debt (mm) commodity price environment 1,200 1,000 Undrawn credit facility with 800 borrowing base of 300 million 600 No anticipated…
  5. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 5
    Hedging Program Protects Cash Flow Actively manage hedge portfolio to support capital program, protect future cash flow and reduce commodity price risk Strategy is to hedge 5070% of production on a forward 12month to 18month basis…
  6. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 6
    2017 Guidance and Outlook Designed to deploy capital with attractive returns, while maintaining flexibility Capital expenditure range of 255285 million Guidance reflects additional drilling rig starting in the second quarter and…
  7. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 7
    DJ Basin Provides Strategic Advantage Large, contiguous acreage position provides substantial development opportunity NE Wattenberg 69,000 total net acres favorable for XRL development1 Targeted development of stackedpay horizons…
  8. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 8
    Delivering Growth Through Execution Track record of delivering sustained production growth DJ Basin Net Sales Volumes (Mboe) Have maintained positive operational 9,000 +3050% momentum in challenging environment 8,000 Growing…
  9. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 9
    NE Wattenberg Cross Section Detailed core analysis confirms reservoir and resource quality is consistent Over 920 of core was analyzed from four distinct well locations throughout acreage position Strong average oil saturations…
  10. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 10
    NE Wattenberg Focus Area NE Wattenberg Focus Area Early adopters recognizing economic benefit of XRL development 66210 4 XRL wells Targeted development of Niobrara 10 MRL wells Drilling horizons throughout acreage position…
  11. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 11
    Enhancing XRL Cost Efficiencies Drilling rig expected to spud 50 XRL wells per year XRL Well Average Drilling Days XRL Well Average Ft./Day Drilled 3,500 18.3 3,321' 2014 11.7 3.9 2.7 3,000 2,668' 11.6 2,500 2015 7.4 2.8 1.4…
  12. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 12
    DJ Basin XRL Indicative Economics 80% 700 Mboe EUR 600 Mboe EUR 60% 500 Mboe EUR 40% PreTax EUR PV10 Payout 2 (Mboe) IRR ( millions) (Years) 20% 500 34% 2.9 2.0 600 47% 4.2 1.8 700 54% 5.6 1.7 0% 45 55 65 Flat…
  13. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 13
    Evolution of XRL Completion Design Enhanced Completion Design 2017 Completion Objectives 250,000 Increase proppant to 1,500 lbs per lateral foot 200,000 from 1,000 lbs per lateral foot +36% BOE (2stream) 150,000 Reduce frac…
  14. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 14
    Progression of XRL Completions Controlled Increased Increased Plug and Perf Flowback Proppant Frac Stages Completion design enhancements leads to improved results NYSE: BBG www.billbarrettcorp.com 17
  15. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 15
    DJ Basin Oil Infrastructure Addition of Saddlehorn/Grand Mesa oil pipeline in 2016 significantly increased takeaway capacity to 650 Mbbls/d DJ Basin oil production currently at 300 Mbbls/d Pipeline infrastructure provides…
  16. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 16
    Provides Competitive Advantage BBG benefits from having no firm marketing commitments and favorable API gravity crude Oil price differential expected to average 34 per barrel below WTI 4Q16 differential averaged 3.67 per barrel DJ…
  17. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 17
    Best in Class DJ Basin Operating Margins Generating 29% greater unhedged operating margins compared to DJ Basin peers 30.00 27.21/boe 25.00 Peer Average 21.05/boe 20.00 15.00 10.00 5.00 0.00 BBG Peer 1 Peer 2…
  18. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 18
    Uinta Oil Program East Bluebell 24,000 net acres Well development targeting Lower Green River formation High oil cut (90%) provides strong margins and steady cash flow Changing market dynamics allows for renegotiation of…
  19. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 19
    Summary Core acreage position located within a toptier basin Solid financial position with cash, attractive hedges and undrawn credit facility Executing on the items within our control to generate operational efficiencies that…
  20. Scotia Howard Weil 45th Annual Energy Conference – Bill Barrett Corp. – slide 20
    1099 Eighteenth Street, Suite 2300 Denver, CO 80202 303.293.9100 Website: www.billbarrettcorp.com Investor Relations Contact: Larry C. Busnardo (303) 3128514 lbusnardobillbarrettcorp.com

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