J.P. Morgan 2017 Energy Equity Conference June 2017
General Overview
The New Chaparral Transforming into a premier pure-play STACK company Approximately 110,000 net acres Capitalize on strong pipeline of economic opportunities Deliver solid operating margins and returns, even in a volatile commodity…
Recent Achievements Emerged from restructuring with a strong balance sheet Equitized 1.2 billion in debt and reduced annual interest expense by 110 million Enterprise Value: Approximately 1.2 billion Debt/Adjusted LTM EBITDA:…
2017 Strategy STACK position provides significant growth potential Transition Chaparral to a Pursue strategic alternatives to monetize Enhanced Oil Recovery (EOR) assets Pure-Play STACK Company Retained CIBC Griffis & Small to market…
STACK Overview
STACK Overview ALFAFA Asset Overview WOODS Approximately 110,000 acres GARFIELD 8.0 MBoe/d in Q1 2017 WOODWARD MAJOR Attributes/Characteristics Chaparral acreage is primarily located in the black oil, DEWEY STACK normal…
One Petroleum System N REGIONAL STACK CROSS SECTION 60 MILES S STACK Attributes STACK MERGE Stacked reservoirs proximal to the world-class Woodford GARFIELD COUNTY KINGFISHER COUNTY CANADIAN COUNTY GRADY COUNTY source rock Efficient…
Currently Identified Drilling Inventory by Play Extensive operated drilling inventory STACK Operated Drilling Inventory by Type 174-rig years 4,000 3 rigs 4 rigs 5 rigs 6 rigs STACK Operated Drilling Inventory 1.5 rigs…
Chaparral Well Performance in STACK Enhanced Completion Tests in the STACK Demonstrated Performance Over Last 12 Months Initiated enhanced completion program in Q2 2016 to test Increased proppant loading continues to support current…
Operational Excellence Drilling and Completions Lowest-cost Meramec Operator Strong, Effective Focus on Cost Reduction/Control Best-in-class D&C cost per Meramec well on a like-for-like 1Q 2013 - 1Q 2015: 50% D&C cost reduction basis…
2017 D&C Cost Performance Chaparral 2017 YTD STACK Meramec D&C Chaparral 2017 YTD STACK Osage D&C Four of seven wells at or below type curve D&C cost of 3.5 million Two of three wells at type curve D&C cost of 3.3 2017 YTD average:…
Operational Excellence Lease Operating Costs An approximate 40% LOE reduction for new STACK drill wells from 2014 to 2016 Thousands Cumulative Early Time LOE(1) per New Well 200 150 100 50 - 2014 2015 2016 2014 2015…
Financial Overview
Strong Financial Position and Liquidity Strong financial position to support accelerated Chaparral Capitalization and Liquidity STACK drilling program ( in Millions) As Reported 3/31/2017 No near-term debt maturities until 2021…
Why Chaparral Peer Leading Balance Sheet Strong Management Execution-focused Team with Excellent STACK Player Track Record Deep Inventory of High-return Drilling Prospects 20
ENERGIZING Americas Heartland
Appendix
STACK Meramec Single Well Economics Type Curve Parameters EUR: 578 MBoe Oil %IP-30: 59% D&C Cost(1): 3.5 million Oil EUR: 233 MBbls Oil %EUR: 40% IP (30-day): 442 Bo/d Initial Decline: 85% b Factor: 1.2 Well Head Gas EUR:…
STACK Osage Kingfisher Single Well Economics Type Curve Parameters EUR: 540 MBoe Oil % IP-30 : 67% D&C Cost(1): 3.3 million Oil EUR: 235 MBbls Oil %EUR: 44% IP (30-day): 403 Bo/d Initial Decline: 80.7% b Factor: 1.1 Well…
STACK Osage Garfield Single Well Economics Type Curve Parameters EUR : 599 MBoe Oil % IP-30 : 46% D&C Cost(1): 3.3 million Oil EUR: 174 MBbls Oil %EUR: 29% IP (30-day): 259 Bo/d Initial Decline: 83.6% b Factor: 1.4 Well Head…
STACK Woodford Black Oil Single Well Economics Type Curve Parameters EUR: 575 MBoe Oil % IP-30 : 55% D&C Cost(1): 4 million Oil EUR:233 MBbls Oil %EUR: 41% IP (30-day):298 Bo/d Initial Decline:73% b Factor: 1.1 Well Head…
STACK Oswego Single Well Economics Type Curve Parameters EUR: 290 MBoe Oil % IP-30 : 81% D&C Cost(1): 2.7 million Oil EUR: 231 MBbls Oil %EUR: 80% IP (30-day): 483 Bo/d Initial Decline: 85% b Factor: 1.1 Well Head Gas EUR:…
2017 Guidance Company production: 8.2 - 8.6 MMBoe Oil and natural gas capital: 135 - 160 million Lease operating expense (LOE): 10.50 - 11.00 per Boe General and Administrative (G&A)(1): 3.40 - 4.20 per Boe Chaparral will…
Contact Information Investors Joe Evans Chief Financial Officer joe.evanschaparralenergy.com 405-426-4590 Media Brandi Wessel Manager Communications brandi.wesselchaparralenergy.com 405-426-6657 Chaparral Energy, Inc. 701…
Executive Team K. Earl Reynolds, Chief Executive Officer and Director Mr. Reynolds joined Chaparral in 2011 as an executive vice president and chief operating officer before being named president in 2014 and chief executive officer in…
Board of Directors Robert F. Heinemann, Chairman Mr. Heinemann was named to the board in 2017. During his career, Mr. Heinemann worked for Berry Petroleum Company, as a director and as its president and chief executive officer, as…
Board of Directors Samuel Langford, Director Mr. Langford was named to Chaparrals board in 2017. He continues to serve as the principal for Langford Upstream Advisory, L.L.C., a position he has held since 2013. Prior to that time, he…
Reconciliations (in thousands) 2016 2015 2014 Net (loss) income (415,720) (1,333,844) 209,293 Interest expense 64,242 112,400 104,241 Income tax (benefit) expense (102) (177,219) 124,443 Depreciation, depletion and amortization…
Loading...
