Skip to main content First Quarter 2017 Earnings Call – Energen Corp. Investor Presentation | Shale Experts
Loading...
Pm

First Quarter 2017 Earnings Call – Energen Corp.

Energen Corp. · May 5, 2017 · 19 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. First Quarter 2017 Earnings Call – Energen Corp. – slide 1
    NEW ENERGEN WELLS WITH GEN 3 FRACS SIGNIFICANTLY OUTPERFORMING 1Q17 QUARTERLY EARNINGS CALL May 5, 2017
  2. First Quarter 2017 Earnings Call – Energen Corp. – slide 2
    ENERGEN: 1Q17 HIGHLIGHTS Energen Wells with Gen 3 Fracs Outperforming In central Midland Basin, cumulative production of 5 new Wolfcamp A and B wells averaging 15% above the highend, 1.3 MMBOE EUR type curve for a 10,000 lateral…
  3. First Quarter 2017 Earnings Call – Energen Corp. – slide 3
    GEN 3 WELLS IN NORTHERN MB 160 20% average cumulative production uplift at 165 days for two Tiger Unit wells over 140 highend, 1.0 mmboe type curve for a 7,500 lateral CumulativeProduction(MBOE) 120 Average of 2 Tiger Unit Gen…
  4. First Quarter 2017 Earnings Call – Energen Corp. – slide 4
    GEN 3 WELLS IN CENTRAL MB 150 15% average cumulative production uplift at 75 days for five central Midland Basin Wolfcamp A/B wells over highend, 1.3 mmboe type curve for 125 a 10,000 lateral CumulativeProduction(MBOE)…
  5. First Quarter 2017 Earnings Call – Energen Corp. – slide 5
    GEN 3 WELLS IN CORE DELAWARE 350 Relative to the highend, 2.0 mmboe type curve for a 10,000 lateral 80% average cumulative production uplift at 80 days for 2 new Wolfcamp A/B wells in 300 Reeves County 6% average cumulative…
  6. First Quarter 2017 Earnings Call – Energen Corp. – slide 6
    1Q17 PRODUCTION By Basin (mboepd) By Commodity (mboepd) 52.8 52.8 50.2 50.2 11.3 12.8 31.4 33.3 30.6 31.8 9.1 8.9 8.3 8.3 9.7 10.6 1Q17 Guidance 1Q17 1Q17 Guidance 1Q17 Central Basin/Other Midland Basin Delaware Basin…
  7. First Quarter 2017 Earnings Call – Energen Corp. – slide 7
    1Q17 LOE & NET SG&A Net SG&A (/boe) LOE (/boe) 9.25 5.10 8.68 8.43 4.52* 4.29 1Q17 1Q17 1Q16 1Q17 1Q17 1Q16 Guidance Guidance Mdpt Mdpt * Excludes 1.56/boe for pension settlement and other expenses 9
  8. First Quarter 2017 Earnings Call – Energen Corp. – slide 8
    2017 CAPITAL Drilling & Development Capital: 850 900 mm Production by Quarter Additional 6065 mm for 4 operated gross completions, 2.8 net nonop new drills, increased (mboepd) operated working interests and facilities High end…
  9. First Quarter 2017 Earnings Call – Energen Corp. – slide 9
    DRILLING & DEVELOPMENT CAPITAL Capital by Basin Capital Breakdown (mm at midpoint) (% at midpoint) 5 14% 4% 385 485 82% Operated Drilling & Development Midland Basin Delaware Basin NonOperated/Other Central…
  10. First Quarter 2017 Earnings Call – Energen Corp. – slide 10
    2017 DRILLING PROGRAM 2017 Operated Horizontal Program Gross/Net Wells Avg. Lateral Length Average WI Midland Basin YE16 DUC Completions 44/43 9,600 98% New Drills 54/46 8,330 84% New Drill Completions 39/32 YE17 DUCs 15/14 Delaware…
  11. First Quarter 2017 Earnings Call – Energen Corp. – slide 11
    2017 ESTIMATED IRRS Generation 3 EUR Range Internal Rates of Return (%) Delaware Basin Core DC&E (MM) (Gross MBOE) 45/bbl 55/bbl 65/bbl Wolfcamp A/B 10,000 lateral 7.9 1,500 2,000 63 103 88 143 116 191 7,500 lateral 6.8 1,200 1,500…
  12. First Quarter 2017 Earnings Call – Energen Corp. – slide 12
    PERMIAN BASIN GROWTH Production (excluding asset sales) 66.3 (mboepd) Delaware Basin Midland Basin 53.6 54.6 21.4 Central Basin/Other 10.3 44.7 12.1 37.8 13.3 30.8 11.6 7.9 31.6 35.3 36.8 20.3 9.7 13.9 13.2 12.3 11.1 9.9…
  13. First Quarter 2017 Earnings Call – Energen Corp. – slide 13
    HEDGE POSITION ROY17 Hedge Volumes Avg. NYMEX Price Oil Swaps 5.0 mmbo 50.13 per barrel Oil 3way Collars 3.6 mmbo Call Price 62.18 per barrel Put Price 45.00 per barrel Short Put Price 35.00 per barrel When the NYMEX price is above…
  14. First Quarter 2017 Earnings Call – Energen Corp. – slide 14
    2018 HEDGES Hedge Volumes Avg. NYMEX Price Oil 3way Collars 7.4 mmbo Call Price 63.85 per barrel Put Price 50.00 per barrel Short Put Price 40.00 per barrel When the NYMEX price is above the call price, Energen receives the call…
  15. First Quarter 2017 Earnings Call – Energen Corp. – slide 15
    EXPENSE GUIDANCE Per BOE, except as noted 2Q17e 2017 LOE (production costs, marketing & transportation) 8.10 8.40 7.60 8.00 Production & ad valorem taxes (% of revenues, excluding hedges) 6.9% 6.8% DD&A expense 17.9518.35 17.50 17.90*…
  16. First Quarter 2017 Earnings Call – Energen Corp. – slide 16
    STRONG BALANCE SHEET Maturity Schedule of Notes 2017e Capitalization (mm) 400 Net debt at YE16 165 Plus: Total Capital Expenditures* 1,017 1,067 Less: Aftertax Cash Flows (includes working 533 capital adjustment) Net Debt at YE17 649…
  17. First Quarter 2017 Earnings Call – Energen Corp. – slide 17
    ACCELERATING ACTIVITY High quality, oil focused assets in core Delaware, Midland basins 3,545 net locations in Permian Basin Wolfcamp and Spraberry trends Toptier return potential Financial strength and flexibility 850900…
  18. First Quarter 2017 Earnings Call – Energen Corp. – slide 18
    NON-GAAP FINANCIAL MEASURES Per unit LOE and net SG&A excluding certain divestments is a NonGAAP financial measure (GAAP refers to generally accepted accounting principles). Energen believes further excluding information associated…
  19. First Quarter 2017 Earnings Call – Energen Corp. – slide 19
    FOR MORE INFORMATION JulieS.Ryland VicePresident InvestorRelations 2053268421 jrylandenergen.com www.energen.com 21

From the store

Browse maps, data & reports in the Shale Experts store