Skip to main content Q3 2017 Presentation – Callon Petroleum Co. | Shale Experts
Loading...
Pm

Q3 2017 Presentation – Callon Petroleum Co.

Callon Petroleum Co. · Nov 6, 2017 · 18 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. Q3 2017 Presentation – Callon Petroleum Co. – slide 1
    3Q17 Earnings Presentation November 06, 2017
  2. Q3 2017 Presentation – Callon Petroleum Co. – slide 2
    Callon Petroleum 3Q17 Highlights Current Rig Activity Adj. EBITDA margin increase to 74% (1) WildHorse Continued focus on cost improvements, FINANCIAL RESULTS 20% reduction in LOE/Boe since 1Q17 5.08 per Boe (excludes G&T,…
  3. Q3 2017 Presentation – Callon Petroleum Co. – slide 3
    Focused on Corporate Level Returns What Creates Value EBITDA Margins Drive Re-investment Value (1) Constant re-evaluation of 80% Peer Benchmarking best capital allocation 70% Average EBITDA Margins (%) decisions on a full-cycle basis…
  4. Q3 2017 Presentation – Callon Petroleum Co. – slide 4
    Measured Growth Outlook Increasing Production Through a Focus on Returns Production growth balanced with corporate-level returns to ensure sustained trajectory and alignment of cash flows 2017 infrastructure investment has provided a…
  5. Q3 2017 Presentation – Callon Petroleum Co. – slide 5
    Capital Budget Update Preparing for 2018 Net Cash Outlay Expected to Increase Slightly (MM) 2017 capital activity has incorporated proactive 400.0 infrastructure spending to prepare for full asset development 380.0 Annual…
  6. Q3 2017 Presentation – Callon Petroleum Co. – slide 6
    Building Out Infrastructure for 2018 and Beyond Laying the Groundwork Major Infrastructure Projects Significant strides for 2017 Projects WildHorse infrastructure build-out across Saltwater Disposal the entire Callon footprint Tank…
  7. Q3 2017 Presentation – Callon Petroleum Co. – slide 7
    Spur: Strong Initial Operated Well Results Early time results from the Sleeping Indian A1 tracking 60% above Lower WC A type curve Peak 24 hr rate to date: 1,640 Boe/d (82% oil) or 238 Boepd/1,000 (has not reached peak 30 day average)…
  8. Q3 2017 Presentation – Callon Petroleum Co. – slide 8
    WildHorse: Consistent Performance and Oil Growth Continued Delineation Across Focus Area Exceptional WC A Performance Well / Pad IP30 (Boe/d) 1 Wright-Adams Unit 31-42 05AH 1,976 6 2 Cheek Unit 28-21 01AH 1,901 5 2 3 Colonial Pad…
  9. Q3 2017 Presentation – Callon Petroleum Co. – slide 9
    Ranger: Potential for Increased Returns and Inventory Eaglehead Lower WC B wells have crossed over type Recent L WC B Performance Outpacing Type Curve curve and continue to climb 80,000 On average, the new wells are outperforming oil…
  10. Q3 2017 Presentation – Callon Petroleum Co. – slide 10
    Monarch: Track Record of Solid Results Pilot Programs Prove 13-Well Spacing in LSBY Longest Laterals Drilled To-date Continued strong results from the Kendra pad, longest laterals drilled to-date, reaffirm LSBY potential Established…
  11. Q3 2017 Presentation – Callon Petroleum Co. – slide 11
    Financial Positioning Highlights Capitalization (MM) (1) Ample liquidity supported by a largely unfunded September 30, 2017 revolving credit facility Cash 62 Current borrowing base of 650MM with an elected commitment of 500MM (6)…
  12. Q3 2017 Presentation – Callon Petroleum Co. – slide 12
    Guidance Summary 3Q17 3Q17 4Q17 Highlights Guidance Actual Guidance Total production (MBoepd) 22.5 22.6 22.5 24.0 25.5 PRODUCTION Forecasting 10% sequential Oil production 77% 77% 77% growth for 4Q17 Income Statement Expenses…
  13. Q3 2017 Presentation – Callon Petroleum Co. – slide 13
    Appendix
  14. Q3 2017 Presentation – Callon Petroleum Co. – slide 14
    Oil Hedge Contracts (1) 55% of 2018 Consensus Volumes Hedged (2) Price Protection of 50/Bbl for 2018 Crude Oil (Bbl, /Bbl) 4Q17 1H18 2H18 Swaps 184,000 905,000 920,000 49.80 49.80 Strike Price 45.74 51.42 51.42 12,000 47.25 50 Swaps…
  15. Q3 2017 Presentation – Callon Petroleum Co. – slide 15
    Natural Gas Hedge Contracts (1) 15% of 2018 Consensus Volumes Hedged (2) Price Protection Over 3 through 1Q18 Natural Gas (MMBtu, /MMBtu) 4Q17 1H18 2H18 16,000 4 Swaps 124,000 - - Strike Price 3.39 3.40 Costless Collars 856,000…
  16. Q3 2017 Presentation – Callon Petroleum Co. – slide 16
    Quarterly Cash Flow Statement 3Q16 4Q16 1Q17 2Q17 3Q17 Cash flows from operating activities: Net income (loss) 21,139 (1,746) 47,129 33,390 17,081 Adjustments to reconcile net income (loss) to cash provided by operating activities:…
  17. Q3 2017 Presentation – Callon Petroleum Co. – slide 17
    Non-GAAP Reconciliation (1) 3Q16 4Q16 1Q17 2Q17 3Q17 Adjusted Income Reconciliation Income (loss) available to common stockholders 19,315 (3,570) 45,305 31,566 15,257 Adjustments: Change in valuation allowance (7,907) 559 (13,119)…
  18. Q3 2017 Presentation – Callon Petroleum Co. – slide 18
    Non-GAAP Reconciliation (1) 3Q16 4Q16 1Q17 2Q17 3Q17 Adjusted G&A Reconciliation Total G&A expense 7,891 6,562 5,206 6,430 7,259 Adjustments: Less: Early retirement expenses (444) Less: Early retirement expenses related to…

From the store

Browse maps, data & reports in the Shale Experts store