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April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc

Energy XXI Gulf Coast, Inc · Apr 4, 2017 · 29 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. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 1
    Investor Presentation April 2017 www.energyxxi.com
  2. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 2
    The New Energy XXI Gulf Coast (EGC) Eliminated 3.6 Billion of Debt and 330 Million(1) in Annualized Interest Expense Currently 74 million drawn on revolver(2) and 128 million of liquidity Simplified Corporate Structure Delaware…
  3. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 3
    Clear Path Forward Operating Safely, Efficiently and Effectively Safely deliver predictable and repeatable results Base production enhancement Facility de-bottlenecking and gas-lift optimization Continue to drive costs down Optimize…
  4. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 4
    EGC Overview Offshore Focused Oil and Gas Development Company with Core Assets in the Gulf of Mexico Shelf, Offshore Louisiana and Texas At December 31, 2016 121.9 MMBOE Proved Reserves 78% Oil, 3% NGL, 19% Gas 70% Proved…
  5. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 5
    Leading Operator in GOM Shelf EGC Core Properties(1) Cum. Prod. Field Operator W/I (MMBOE) West Delta 73 Energy XXI 100% 389 South Timbalier 54 Energy XXI 100% 152 South Pass 49 Energy XXI 100% 111 Main Pass 61 Energy XXI 100% 65…
  6. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 6
    2016 Achievements Restructured balance sheet provides strong foundation for the future Eliminated 3.6 billion in debt and 330 million of annualized interest expense (15/BOE(1)) Liquidity of 128 million at December 31, 2016…
  7. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 7
    EGC YE 2016 SEC Proved Reserves Category PV-10 SEC Pricing Mix PDP Gas 223 19% PUD P&A NGL 37 (580) 3% PDN PDP 62 177 Oil PDN 78% 24 PUD 316 Total 122 MMBOE Total 135 MM Category Net Oil Net NGL Net Gas Net Total PV10…
  8. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 8
    EGC YE 2016 SEC Proved Reserves 140 122 120 7 Net Proved Reserves (MMBOE) 100 36 87 80 8 60 40 20 0 June 30, 2016 (-) Production (+) PUD reserves (+) Other Rev/Adds December 31, 2016 1) 2Q16 Prices:…
  9. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 9
    EGC YE 2016 Reserves at Strip Prices 1P Reserves 133 MMBOE 2P Reserves 210 MMBOE 3P Reserves 268 MMBOE Net Reserves, MMBOE POS PDP PDP 58 69 PUD PRB 69 38 77 PDP 69 PDN PDN 26 PRB 26 PDN PUD 77 PUD 26 38 38 1P PV10…
  10. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 10
    Production Analysis / Hedging 60,000 In Feb 2017, EGC 50,000 49,133 47,347 entered into oil 44,632 42,455 contracts (costless collars) to hedge BOED 40,000 10,000 BOPD for 30,000 Mar 2017 to Dec 2017 20,000 Average…
  11. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 11
    FINANCIAL REVIEW 13
  12. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 12
    Lease Operating & Gathering 120.0 100.0 96.2 (1) 91.1 82.9 80.4 (1) 80.0 MM 60.0 40.0 20.0 - Q1 2016 Q2 2016 Q3 2016 Q4 2016 Gathering and Transportation 14.2 10.0 14.1 5.5 Workover/Maintenance 12.1 17.5 11.0…
  13. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 13
    Margin Analysis 60.00 50.00 40.00 24.33 15.03 30.00 15.51 /BOE 5.79 3.10 3.10 3.00 20.00 1.33 3.00 10.00 19.65 17.58 19.58 - (4.97) (10.00) (1) Q4 2015 Q4 2016 Q4 2016 Proforma Realized Price Realized Price At…
  14. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 14
    BOEM and BSEE Update Excellent working relationship with BOEM and BSEE Continue to operate under the terms and proposals of our plan with the BOEM EGC has bonded its sole properties and further focused bonding efforts on expired…
  15. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 15
    Simplified Capital Structure All figures in 000s and include Successor Predecessor cash and debt at the parent December 31, June 30, 2016 2016 Cash and cash equivalents(1) 165,368 203,258 Short-term Debt(2) 4,001 4,006 Long-term…
  16. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 16
    Liquidity - December 31, 2016 MM Cash and Cash Equivalents 165 Less: Adjustments(1) (37) Net Cash & Cash Equivalents(2) 128 Credit Facility 302 Less: Amount Drawn (74) Credit Facility Less Amount Drawn 228 Letter of Credit…
  17. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 17
    2017 Preliminary Capital Budget Estimated Capital: 140 - 170 million Includes Abandonment Costs of 50 - 70 million 2017 Development Drilling Program Commencing mid-year Three to five development wells planned 100% working interest…
  18. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 18
    Renewed Focus New Management Team Continued commitment to HSE excellence Highly experienced technical and financial team Focused on maximizing value for shareholders Intense Financial Discipline Continued reductions in LOE & G&A…
  19. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 19
    OVERVIEW OF KEY FIELDS(1) 21 1) Amounts and field data as reported in Form10K for period ending 12/31/16
  20. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 20
    West Delta 73 Overview Locator Map West Delta 73 Field Key Field Statistics Discovered 1962 by Humble, located in 175 WD EGC operates with 100% WI Cumulative Production 389MMBOE Accounted for 9% of EGC net production for…
  21. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 21
    South Timbalier 54 Overview Locator Map South Timbalier 54 Field Key Field Statistics Discovered 1955 by Humble, located in 67 WD EGC operates with 100% WI Cumulative Production 152MMBOE Accounted for 6% of EGC net production…
  22. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 22
    South Pass 49 Overview Locator Map South Pass 49 Field Key Field Statistics Discovered 1974 by Gulf Oil, located in 400 WD EGC operates with 100% WI Cumulative Production 111MMBOE Accounted for 4% of EGC net production for…
  23. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 23
    Main Pass 61 Overview Locator Map Main Pass 61 Field Key Field Statistics Discovered 2000 by Pogo, located in 90 WD EGC operates with 100% WI Cumulative Production 65MMBOE Accounted for 9% of EGC net production for December…
  24. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 24
    Ship Shoal 208 Overview Locator Map Ship Shoal 208 Field Key Field Statistics Discovered 1960 by Pure Energy, located in 100 WD EGC operates with 100% WI Cumulative Production 457MMBOE Accounted for 6% of EGC net production…
  25. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 25
    West Delta 30 Overview Locator Map West Delta 30 Field Key Field Statistics Discovered 1948 by Humble, located in 45 WD EGC operates with 100% WI Cumulative Production 751MMBOE Accounted for 9% of EGC net production for…
  26. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 26
    South Pass 78 Overview Locator Map South Pass 78 Field Key Field Statistics Discovered 1972 by Penzoil Energy, located in 140-190 WD EGC operates with 100% WI Cumulative Production 264MMBOE Accounted for 10% of EGC net…
  27. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 27
    South Timbalier 21 Overview Locator Map South Timbalier 21 Field Key Field Statistics Discovered in the late 1950s and 1960s by Gulf Oil and Shell Oil, located in 55 WD EGC operates with 100% WI Cumulative Production 515MMBOE…
  28. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 28
    EGC 3D Seismic Coverage Total 3D seismic coverage totals 17,000 sq. mi. (onshore/offshore) EGC Lease Ownership* 3D Seismic Coverage *Includes EGC operated and non-operated leases 30
  29. April 2017 Investor Presentation – Energy XXI Gulf Coast, Inc – slide 29
    Al Petrie Investor + Media Relations Coordinator apetrieenergyxxi.com 713-351-0617 www.energyxxi.com

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