Skip to main content May 2017 Corporate Presentation – Unit Corp. | Shale Experts
Loading...
Pm

May 2017 Corporate Presentation – Unit Corp.

Unit Corp. · May 9, 2017 · 34 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. May 2017 Corporate Presentation – Unit Corp. – slide 1
    Corporate Presentation NYSE: UNT May 9, 2017
  2. May 2017 Corporate Presentation – Unit Corp. – slide 2
    Unit Corporation: A Diversified Energy Company 12 Tulsa based, incorporated 10 in 1963 Casper Marcellus Pittsburgh Integrated approach to business allows Unit to capture margin from each business segment Anadarko Tulsa…
  3. May 2017 Corporate Presentation – Unit Corp. – slide 3
    Company Highlights Highly economic Midstream segment opportunities for our E&P EBITDA poised for growth segment Fiscally conservative Contract drilling segment Capital spending within growing with industry cash flow rebound…
  4. May 2017 Corporate Presentation – Unit Corp. – slide 4
    Core Upstream Producing Areas Key focus areas include: Mid Continent Region Gulf Coast: Wilcox (Southeast Texas) Hoxbar MidContinent: Granite Wash Hoxbar (Western Oklahoma) Upper Gulf Coast Region Granite Wash (Texas Panhandle)…
  5. May 2017 Corporate Presentation – Unit Corp. – slide 5
    Buffalo Wallow Field Economic Advantages Geology 11 Granite Wash lenses Sands consistent across field Land 8,800 net acres Operated and 90% HBP Average working interest 90% 220 270 potential XL locations Resumed drilling in…
  6. May 2017 Corporate Presentation – Unit Corp. – slide 6
    Granite Wash Extended Lateral (7,500) 3,500 3,000 Cumulative Gas Equivalent(MMCFE) 2,500 Dixon 5554 XL 1H (C1) Projected Type Curve (C1 Lense) 9 12 Bcfe 2428 locations 2,000 Gross EUR 7.9 Bcfe Well cost 6.3 MM 1,500…
  7. May 2017 Corporate Presentation – Unit Corp. – slide 7
    Hoxbar (Marchand Sand) Hoxbar Marchand Core Area EUR 550 MBoe Well cost 5.0 MM 83% liquids (68% oil) 28,000 net acres (64% HBP) 6065 locations Working interest of 5060% H O X B A R 3 , 0 0 0 ROR1 100% Resumed drilling in…
  8. May 2017 Corporate Presentation – Unit Corp. – slide 8
    Hoxbar Acquisition Paid 56.75MM cash plus contributed 180 acres in McClain County 47 PDP wells 23 operated by seller 20 operated by Unit Proved reserves = 3.2MMBoe Production = 1,367 boepd (73% liquids) 65 gross potential…
  9. May 2017 Corporate Presentation – Unit Corp. – slide 9
    Wilcox (Southeast Texas) Overall Wilcox Highlights TYLER POLK Drilled 159 operated wells since 2003 (152 vertical, 8 horizontal) Program ROR 100% Operated with working interest 92% Production: 90 MMcfe/d (42% liquids) 3D AREA…
  10. May 2017 Corporate Presentation – Unit Corp. – slide 10
    Wilcox Activity Map for 2017 TYLER SEGNO NE POLK GILLY VILLAGE MILLS WING CHERRY CREEK HARDIN LIBERTY NYSE: UNT 11
  11. May 2017 Corporate Presentation – Unit Corp. – slide 11
    Gilly Field Wilcox Cross Section Gilly Field Gilly DT Parker Parker Parker 2 GU 1 4 BS O 3 BS R 4 Current Production Temporarily Abandoned Perforations Future Behind Pipe Recompletions NYSE: UNT 12
  12. May 2017 Corporate Presentation – Unit Corp. – slide 12
    2016 Wilcox Recompletion & Workover Results Composite Gross Production from Recompletions and Workovers 20 Recompletions & 7 Workovers Total Cost: 10MM Start of Year End of Year 3,360 mcfd 40,000 mcfd 80 bopd 1,100 bopd NYSE:…
  13. May 2017 Corporate Presentation – Unit Corp. – slide 13
    Wilcox Horizontal Test Village Mills Field West Univ. 1H 5,800 Lateral 1.03 BCFG On line April 19, 2017 2.6 MMCF/D IP 8.4 MMCF/D, 240 BO/D 214,000 Frac Rate Increasing 3,700 Flowing Pressure 22 Stage, 5,300,000 Frac 1.45…
  14. May 2017 Corporate Presentation – Unit Corp. – slide 14
    Rig Fleet Presence in Key Regions 94 rig fleet 20 800 HP: 21% 12 70 1,0001,700 HP: 75% 4 2,000 HP: 4% 69% electric 10 56% 1,500 HP or greater 94 equipped with top drives 59 equipped with skidding or walking systems 30%…
  15. May 2017 Corporate Presentation – Unit Corp. – slide 15
    SCR Rigs Continue to Make an Important Contribution 30 At industry trough 13 drilling rigs operating 25 19 Currently, 28 drilling rigs 20 operating 12 15 9 Two additional SCR rigs 7 under contract 10 9 All BOSS rigs…
  16. May 2017 Corporate Presentation – Unit Corp. – slide 16
    Average Dayrates and Margins (1) 20,000 100% 15,000 75% Average Rig Utilization Margins and Dayrates 10,000 50% 5,000 25% 0 0% 2008 2009 2010 2011 2012 2013 2014 2015 2016 Q1 '17 Margins Dayrates Average Rig…
  17. May 2017 Corporate Presentation – Unit Corp. – slide 17
    The BOSS Drilling Rig Optimized for Pad Drilling Multidirection walking system Faster Between Locations Quick assembly substructure 3234 truck loads More Hydraulic Horsepower (2) 2,200 horsepower mud pumps 1,500 gpm…
  18. May 2017 Corporate Presentation – Unit Corp. – slide 18
    Midstream Core Operations Brook Field Pittsburgh Mills Snow Shoe Texas Panhandle Northern Oklahoma and Kansas 52,000 dedicated acres 1,975,000+ dedicated acres Pittsburgh 135 MMcf/d processing capacity 193 MMcf/d processing…
  19. May 2017 Corporate Presentation – Unit Corp. – slide 19
    Midstream Segment Contract Mix 2010 Q1 2017 Contract Mix Based on Volume 28% 49% 51% 72% Fee Based Commodity Based Contract Mix Based on Margin 15% 35% 85% Fee Based 65% Commodity Based Unit vs. 3rd Party Margin…
  20. May 2017 Corporate Presentation – Unit Corp. – slide 20
    Superior Historical Volumes 200,000,000 180,000,000 160,000,000 Gathered & Processed 140,000,000 120,000,000 MMBtu 100,000,000 80,000,000 60,000,000 40,000,000 20,000,000 2009 2010 2011 2012 2013 2014…
  21. May 2017 Corporate Presentation – Unit Corp. – slide 21
    Midstream Segment Commodity Price Sensitivity (1) 70,000,000 Segment EBITDA Before Intercompany Eliminations 2016 Adjustments 60,000,000 Utilized 2016 volumes 50,000,000 Assumed 40,000,000 55.00/Bbl oil price 30,000,000…
  22. May 2017 Corporate Presentation – Unit Corp. – slide 22
    Debt Structure No NearTerm Maturities Senior Subordinated Notes Ratings S&P Moodys Fitch Corporate B+ B2 B+ 650 million, 6.625% Senior Subordinated Notes BB B3 BB 10year, NC5; maturity 2021 3/31/2017 Key Covenants Interest…
  23. May 2017 Corporate Presentation – Unit Corp. – slide 23
    Segment Contribution Revenues ( millions) Adjusted EBITDA ( millions)(1) 1,573 800 1,600 787 1,352 1,400 667 1,200 600 1,000 854 410 800 400 602 600 252 400 200 176 75 200 0 0 2013 2014 2015 2016 Q1 '17 2013 2014…
  24. May 2017 Corporate Presentation – Unit Corp. – slide 24
    Operating Segment Capital Expenditures (In Millions) 1,500 1,000 500 0 2012 2013 2014 2015 2016 2017 Budget Oil and Natural Gas Contract Drilling Midstream Acquisitions NYSE: UNT 25
  25. May 2017 Corporate Presentation – Unit Corp. – slide 25
    Investment Considerations E&P segment three core areas provide compelling economics Contract drilling segment resuming pattern of growth Midstream segment positioned to benefit from increased activity levels and liquids…
  26. May 2017 Corporate Presentation – Unit Corp. – slide 26
    APPENDIX NYSE: UNT 27
  27. May 2017 Corporate Presentation – Unit Corp. – slide 27
    NonGAAP Financial Measures Corporate Adjusted EBITDA Three months ended Years ended March 31, December 31, ( In Millions) 2016 2017 2013 2014 2015 2016 Net Income (Loss) (41) 16 185 136 (1,037) (136) Income Taxes (16) 14 117 87…
  28. May 2017 Corporate Presentation – Unit Corp. – slide 28
    NonGAAP Financial Measures Segments Adjusted EBITDA Three months ended Years ended March 31, December 31, ( In Millions) 2016 2017 2013 2014 2015 2016 Unit Petroleum Income (Loss) Before Income Taxes (1) (45) 36 239 199 (1,631)…
  29. May 2017 Corporate Presentation – Unit Corp. – slide 29
    NonGAAP Financial Measures Reconciliation of Average Daily Operating Margin Before Elimination of Intercompany Rig Profit and Bad Debt Expense Three months ended Years ended (In thousands except for operating days March 31, December…
  30. May 2017 Corporate Presentation – Unit Corp. – slide 30
    NonGAAP Financial Measures Reconciliation of Average Daily Operating Margin Before Elimination of Intercompany Rig Profit and Bad Debt Expense Years ended December 31, (In thousands except for operating days and operating margins) 2008…
  31. May 2017 Corporate Presentation – Unit Corp. – slide 31
    Superior Pipeline Reconciliation of EBITDA (Before Intercompany Eliminations) Segment EBITDA Before Intercompany Eliminations Years ended December 31, ( In Millions) 2009 2010 2011 2012 2013 2014 2015 2016 Total Midstream Income…
  32. May 2017 Corporate Presentation – Unit Corp. – slide 32
    Derivative Summary Crude 2017 2018 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Collars Volume (Bbl) Weighted Avg Floor Weighted Avg Ceiling 3Way Collars Volume (Bbl) 337,500 341,250 345,000 345,000 Weighted Avg Floor 49.79 49.79 49.79 49.79…
  33. May 2017 Corporate Presentation – Unit Corp. – slide 33
    Q2 2017 Economic Prices Strip Case* Natural BBL MB Crude Gas MB C2 MB C3 C3 MB NC4 MB iC4 MB C5+ CW C2 CW C3 CW NC4 CW iC4 CW C5+ 2017 53.889 3.323 0.257 0.672 28.211 0.838 0.828 1.180 0.235 0.641 0.793 0.884 1.174 2018 54.306…
  34. May 2017 Corporate Presentation – Unit Corp. – slide 34
    Corporate Presentation NYSE: UNT May 9, 2017

From the store

Browse maps, data & reports in the Shale Experts store