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November 2017 Corporate Presentation – Halcon Resources Corp

Halcon Resources Corp · Nov 9, 2017 · 28 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. November 2017 Corporate Presentation – Halcon Resources Corp – slide 1
    HALCN RESOURCES Company Presentation November 2017
  2. November 2017 Corporate Presentation – Halcon Resources Corp – slide 2
    Investment Highlights Delaware Basin 43,719 net acres in the oily window of the Delaware Basin (75%+ oil) Operator with 1,750+ gross operated locations Significant Inventory Manageable HBP requirements Excellent Pro forma…
  3. November 2017 Corporate Presentation – Halcon Resources Corp – slide 3
    Acreage Overview Delaware Basin Overview Acreage Position Hackberry Draw Prospect (Pecos County) Net Acreage: 26,453 with 73% average W.I. 1,138 gross operated drilling locations (2) Wolfcamp EURs of 1.1 to 1.3 MMBoe assuming…
  4. November 2017 Corporate Presentation – Halcon Resources Corp – slide 4
    Strong But Responsible Growth Plan Low Leverage and Attaining Cash Flow Neutrality by Late 2019 Q4 17 to Q4 18 Estimated Production (Boe/d) Annual Estimated Production (Boe/d) 22,000 45,000 215% 60% 28,000 65% 17,000 7,000…
  5. November 2017 Corporate Presentation – Halcon Resources Corp – slide 5
    Balanced Drilling Plan 2018 Drilling Plan Highlights Drilling plan is focused on growth, delineation, determining optimal spacing and fulfilling HBP requirements Hackberry Draw one rig for most of 2018 Monument Draw two rigs for…
  6. November 2017 Corporate Presentation – Halcon Resources Corp – slide 6
    Leading Capital Efficiency & Leverage vs. Peers Capital Efficiency (2017 to 2018) (1)(2) Estimated Net Debt at Year End 2018 / 2018E EBITDA (2) 60,000 4.0x Peer Average: Peer Average: 40k 3.5x 1.9x 50,000 Future Net Debt /…
  7. November 2017 Corporate Presentation – Halcon Resources Corp – slide 7
    Compelling Field-Level Operating Margins vs. Peers Total Revenue (/Boe) (1)(2) Field-Level Cash Flow (/Boe) (1)(2)(3) 42 100% 40 40 Peer Average: Peer Average: 90% 31 34/boe & 25/boe 38 59% Oil 80% 36 % Oil Production…
  8. November 2017 Corporate Presentation – Halcon Resources Corp – slide 8
    Compelling Valuation vs. Peers Halcn Trades at A Significant Discount to Permian Pure-Play Peers on a Value per Acre Basis 40,733 33,869 27,026 19,466 16,247 Permian Pure HK at Current Share Implied HK Share HK at 10.00…
  9. November 2017 Corporate Presentation – Halcon Resources Corp – slide 9
    Attractive Purchase Price for Core Delaware Basin Acreage Select Southern Delaware Transactions (1) / Adjusted Net Acre (1)(2) OXY / J. Cleo 40,571 HK / Ward County Silver Run / Centennial 34,884 CPE / Ameredev 32,832 PE…
  10. November 2017 Corporate Presentation – Halcon Resources Corp – slide 10
    Hackberry Draw (Pecos County) Development Plan Drilling Plan Through 1H 2018 Majority of long-term development planned Belle Alexandra Berkley State to be 10,000 CLL 1H East 2H WOC Flowing Back Working with offset operators to…
  11. November 2017 Corporate Presentation – Halcon Resources Corp – slide 11
    Halcn Field Services Hackberry Draw (Pecos County) Overview Map 2 produced water recycling facilities, fresh water wells and SWDs Each recycling facility has capacity of 40,000 bpd and storage capacity of 900,000 bbls Two…
  12. November 2017 Corporate Presentation – Halcon Resources Corp – slide 12
    Monument Draw (Ward County) Development Plan Drilling Plan Through 1H 2018 84% of planned locations to be 10,000 laterals 5 horizontal wells spud to date with 11 additional horizontal wells planned through 1H 2018 Targeting the…
  13. November 2017 Corporate Presentation – Halcon Resources Corp – slide 13
    Halcn Field Services Monument Draw (Ward County) Overview Map Current infrastructure includes freshwater and SWD facilities 10 freshwater wells capable of producing 60,000 bpd Two salt water disposal wells with a combined…
  14. November 2017 Corporate Presentation – Halcon Resources Corp – slide 14
    Recent Southern Delaware Basin Well Results 1 Kelley State 22 1H 9 Rock River State 30 1H Diamondback Diamondback IP30/1000: 123 BOEPD (94% Oil) IP30/1000: 189 BOEPD (79% Oil) Halcns 2 Balbo-Adrianna 1H Halcon Resources 10 UL…
  15. November 2017 Corporate Presentation – Halcon Resources Corp – slide 15
    Full Year 2018 Guidance Full Year 2018 Production (Boe/d) Total 15,000 19,000 % Oil 72% 78% % Gas 10% 13% % NGL 12% 15% Differentials (% Before Fees) % Oil 95% 97% % Gas 78% 82% % NGL 40% 45% Capex (MM) D&C Capex (2)…
  16. November 2017 Corporate Presentation – Halcon Resources Corp – slide 16
    Pro Forma Capitalization Highlights Pro Forma Capitalization Assumed Simple capital 50% of Williston Basin Exercise of the structure Face Value Actual HK HY Debt (Non-Op Assets) Monument Draw Adjusted HK (1) Capitalization (MM)…
  17. November 2017 Corporate Presentation – Halcon Resources Corp – slide 17
    Appendix
  18. November 2017 Corporate Presentation – Halcon Resources Corp – slide 18
    Decades of Drilling Inventory Gross Remaining Operated Locations (1)(2) Multi-Bench Inventory (Hackberry Draw Assets) Future drilling and upside 5,280 100% Avg. W.I.; 77% 10K Ft. Development Near Term Drilling (WCA, WCB, 1st…
  19. November 2017 Corporate Presentation – Halcon Resources Corp – slide 19
    Hackberry Draw (Pecos County) 1 2 Halcon BALBO-ADRIANNA WEST 1H BARBARA STATE 1H POL Date 7/30/2017 9/1/2016 Boe/Ft 137 120 Offset Drilling Activity 3 4 DONNA STATE EAST UNIT 1H DONNA STATE WEST UNIT 1H 8/7/2016…
  20. November 2017 Corporate Presentation – Halcon Resources Corp – slide 20
    Hackberry Draw (Pecos County) Asset Overview North and South Prospects Key Considerations Hackberry Draw North 80% of acreage and locations Hackberry Draw North Successful horizontal Wolfcamp development 21,043 Net Acres across…
  21. November 2017 Corporate Presentation – Halcon Resources Corp – slide 21
    Improving Pecos County Drilling Efficiencies Hackberry Draw 10,000 Lateral Wells Average Intermediate Spud to Rig Release Cycle Times 40 35 33.78 30.50 30 27.29 25 22.88 Days 20 15 1 well (Lindsey 1H) 10…
  22. November 2017 Corporate Presentation – Halcon Resources Corp – slide 22
    Hackberry Draw (Pecos County) Type Curves (10,000 Lateral) Wolfcamp A Type Well Wolfcamp B Type Well 1,400 1,800 1,200 Avg. EUR: 1,142 Mboe 1,600 Avg. EUR: 1,312 Mboe Normalized Rate (Boe/d) Normalized Rate (Boe/d) Boe/ft: 114…
  23. November 2017 Corporate Presentation – Halcon Resources Corp – slide 23
    Ethel-Jesper East 1H (WC A) Well Performance Well Performance (Oil Only) vs. Faye West Unit 1H Well Location 1,000 Bbl/d 100 1 11 21 31 41 51 61 71 81 Days Online (Downtime Removed) Faye West Unit 1H Oil Ethel-Jesper 1H…
  24. November 2017 Corporate Presentation – Halcon Resources Corp – slide 24
    Monument Draw (Ward County) Asset Overview Acreage Position and Offset Activity Ward County Acreage 17,266 total net acres Monument Draw North Avg. W.I. 100% with NRI of 74.6% 8,320 Net Acres Monument Draw South (8,946 Net…
  25. November 2017 Corporate Presentation – Halcon Resources Corp – slide 25
    Monument Draw (Ward County) Type Curves (10,000 Lateral) Wolfcamp Monument Draw South Type Well Wolfcamp Monument Draw North Type Well 2,000 1,600 1,800 Avg. EUR: 1,848 Mboe 1,400 Avg. EUR: 1,432 Mboe Normalized Rate (Boe/d)…
  26. November 2017 Corporate Presentation – Halcon Resources Corp – slide 26
    Hedging Summary Crude Oil (Bbl/d, /Bbl) Q4 '17 FY 2017(3) Q1 '18 Q2 '18 Q3 '18 Q4 '18 FY 2018 Q1 '19 Q2 '19 Q3 '19 Q4 '19 FY 2019 Costless Collars (Bbl/d) 5,413 5,413 8,000 9,000 10,000 11,000 9,510 4,000 3,000 3,000 3,000 3,247…
  27. November 2017 Corporate Presentation – Halcon Resources Corp – slide 27
    Ownership Summary Ownership Summary Basic Shares Basic Shares Employees Net Fully Fully Diluted (1) (2) Holder Outstanding % Ownership Warrants Options Diluted Diluted % Ownership Other Common Equity Holders 145,179,981 97.0%…
  28. November 2017 Corporate Presentation – Halcon Resources Corp – slide 28
    Non-GAAP Adjusted EBITDA Reconciliation Adjusted EBITDA Reconciliation (000s) Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 (2) 2017 2016 (2) Net income (loss), as reported 419,287 475,568 628,816…

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