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Denver Powder River Basin Summit – Chesapeake Energy Corp

Chesapeake Energy Corp · Sep 19, 2017 · 21 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. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 1
    DENVER POWDER RIVER BASIN SUMMIT Frank Patterson, EVP Exploration and Production, Chesapeake Energy September 19, 2017 Sponsored by SunTrust
  2. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 2
    WHY WE THE PRB One of the largest, least-developed stacked pay opportunities in the country 10+ prolific, proven formations Gross Recoverable Resource Potential 1,800+ mi2 of 3D seismic; 3,100' of whole core Prolific CHK producers…
  3. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 3
    HOTSPOT MATTERS DVN, EOG, etc. CHK Core Area CHK source rocks are 20 30% more mature than competitors Higher pressure gradients, increased source rock porosity and greater hydrocarbon charge TAKEAWAY: Two mature, high-TOC source…
  4. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 4
    290,000 NET ACRES OF GROWTH POTENTIAL 700,000 acres of stacked potential 290,000 Net Acres in Powder River Basin 71% HBP/HBU 90% undeveloped 98% of leases cover all depths Focused on 9 operated federal units Single-operator…
  5. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 5
    VIEW OF THE POWDER RIVER BASIN Working Interest 35% 2008 THROUGH 2010 Entered Basin 5/3/2007 1st Well Spud Initial basin focus 12/2008 on Niobrara/Frontier 25% 2010 THROUGH 2014 CNOOC JV (OOGC) Effective 1/2011 Rig ramp…
  6. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 6
    WHERE WE ARE NOW 2 rigs active, 3rd in October Turner moving to development Exceeding expectations Net Production Potential 40 Testing our assumptions Analyst Day Projection 35 Sussex in development mode 30 Appraising the rest…
  7. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 7
    POWDER RIVER BASIN TURNER UPDATE OUTSTANDING INITIAL RESULTS Graham 23-35-71 15H TIL 9/8/2017 (6 days) 4,500' lateral Peak rate to date 1,700 boe/d (80% oil) Well still cleaning up OIL CUM BOE vs Producing Months…
  8. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 8
    POWDER RIVER BASIN TURNER SANDSTONE OPERATIONAL EFFICIENCIES Turner Average Drilling Cost Turner Average Completion Cost (/ft.) (/ft.) 542 351 469 464 281 279 410 244 353 Q1 2017 Q2 2017 Q3 2017E Q4 2017E Q1 2018E Q1 2017…
  9. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 9
    POWDER RIVER BASIN TURNER SANDSTONE Contiguous high-productivity reservoir A Exceeding expectations Multi-phase window play Acquired 150' of core in 2017 OIL CONDENSATE 6 analyzed Turner cores 300 locations at 2,640' spacing…
  10. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 10
    POWDER RIVER BASIN TURNER UPDATE FUTURE TESTS Third rig in October Turner focused Potential tests for 2017 2018 Spacing Test 6 wells Extents Test 5 wells Continuing to evaluate high OIL CONDENSATE graded position 3 wells in…
  11. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 11
    POWDER RIVER BASIN SUSSEX SANDSTONE HIGHLY ECONOMIC OIL PLAY Dominant position in the play Sussex Performance Development mode CHK Sussex Industry Sussex Gross Cumulative Production (mboe) Utilizing seismic to delineate…
  12. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 12
    POWDER RIVER BASIN SUSSEX SANDSTONE OPERATIONAL EFFICIENCIES Sussex Average Drilling Cost Sussex Average Completion Cost (/ft.) (/ft.) 276 750 214 205 194 160 442 257 2013 2014 2015 2016 2017E 2018E 2014 2015 2016…
  13. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 13
    POWDER RIVER BASIN SUSSEX SANDSTONE WHERE WE ARE NOW AND WHERE WE ARE GOING TURNING IN LINE UPCOMING LOCATIONS 10 gas condensate wells 15 volatile oil wells 1 black oil appraisal well 6 gas condensate wells SunTrust: CHK Powder…
  14. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 14
    POWDER RIVER BASIN NIOBRARA NOT THE NIO YOU REMEMBER PAST Historical spacing too close PRESENT Wider well spacing within Legacy completion design gas condensate window FUTURE under stimulated 1,320' Continue to appraise oil…
  15. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 15
    POWDER RIVER BASIN NIOBRARA INCREASED PERFORMANCE THROUGH ENHANCED COMPLETIONS Improving well performance CHK PRB NIOBRARA CUM BOE/FT VS TIME 1st completion test CUM BOE/FT Increased proppant concentrations, spacing to 1,320'…
  16. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 16
    POWDER RIVER BASIN MOWRY SHALE OPPORTUNITY FOR GROWTH Encouraging 1st well Combs 17-33-70 USA B MW 40H 4,100' lateral, TIL 7/15/2017 Currently flowing 4.5 5 mmcf/d, 37% load recovery Concept validated Overpressured,…
  17. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 17
    POWDER RIVER BASIN PARKMAN SANDS STACKED OIL SYSTEM DVN Targeted development through 2020 Industry active in north hotspot Strategic section expands towards basin margin EUR: 700 800 mboe Multiple cores in 2018 (1) Oil…
  18. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 18
    POWDER RIVER BASIN ADDITIONAL OPPORTUNITIES Teckla More than a mile of stacked pay 10+ stacked formations Exploring new horizons Teckla, Teapot, Surrey, Additional Niobrara benches, Frontier, Muddy, Dakota and Lakota Niobrara…
  19. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 19
    STATE OF THE PLAY BUILDING FOR SUCCESS Water and electric systems Three SWD sites 13,000 bwpd capacity Over 110 miles of 3 phase system Production facilities Pre-fabricated results in 30% reduction in capital and 75% reduction…
  20. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 20
    SHOW ME THE MONEY PV10 PER ACRE AT 3/50 2X increase Turner outperforming since Analyst Day 2016(1)(2) Performance and play outline continues to improve Over 1 billion in development value(1)(2) (1) Both maps reflect using a…
  21. Denver Powder River Basin Summit – Chesapeake Energy Corp – slide 21
    WHAT DOES THIS DO FOR CHK Platform for oil growth Power of the Peake Confidence in our processes, technology and our people Once forgotten, 24-month turnaround story PRB, whats next SunTrust: CHK Powder River Basin…

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