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The Oil and Services Conference 12 – Callon Petroleum Co.

Callon Petroleum Co. · Feb 18, 2014 · 23 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. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 1
    CALLON PETROLEUM COMPANY The Oil & Services Conference 12
  2. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 2
    POISED FOR GROWTH Completed onshore transition PERMIAN PRODUCTION Focused in Permian Basin 7,000 Daily Production (Boepd) 6,000 Demonstrated horizontal 5,000 drilling expertise 4,000 Wolfcamp A/B-only inventory 3,000 of 10…
  3. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 3
    RECORD OF VALUE CREATION INDEXED PERFORMANCE(b) Marketing of GoM assets announced in 250% late April 2013 200% 80%+ increase in stock price over period 150% Building track record 100% as onshore operator 301MM Proved 50%…
  4. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 4
    PURE-PLAY GROWTH STRATEGY Drive growth with ongoing horizontal program development Transitioned early to improve capital efficiency Two fields in 2013 Four fields in 2014 Increasing EURs with extended production history Minimal…
  5. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 5
    OPERATIONS FEBRUARY 2014
  6. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 6
    MIDLAND BASIN EXPOSURE Over 30,000 net acres 138 wells (21 horizontal) NORTHERN 100% operated production Entered in 2009 with 8,800 net acres Expanded acreage position through leasing and acquisitions Evolved to horizontal…
  7. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 7
    OPERATIONAL EXCELLENCE BRUNO HANSON ENVIRONMENTAL Operational team built EXCELLENCE AWARD (2013) over last four years Dedicated HES team Continued reductions in lease operating costs Unique operating capabilities for a small cap…
  8. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 8
    GROWING HORIZONTAL BASE Downspacing initiatives Addition of locations at Pecan Acres and Kayleigh Existing Existing Additional 2014 Target PD PUD Locations Plans Jo-Mill 0 0 81 Lower Spraberry 0 0 102 Wolfcamp A 1 0 104 Upper…
  9. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 9
    SOUTHERN MIDLAND BASIN Most established area in PRODUCTION basin for horizontal 3,000 development 19 horizontal wells 2,500 Daily Production (Boepd) Pad development of two 2,000 fields in 2013 with additional field in 2014…
  10. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 10
    ROBUST ECONOMICS TAYLOR DRAW: 6.5MM WELL EAST BLOXOM: 6.7MM WELL Two discrete Wolfcamp B levels Extended well history to support economics Based on EURs used for proved reserve bookings The Oil & Services Conference 12…
  11. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 11
    MULTIPLE ZONE DE-RISKING TAYLOR DRAW EAST BLOXOM UPPER WC B LOWER WC B UPPER WC B WC A PDNPs ONLINE GARRISON DRAW LOWER WC B Three established zones supported by microseismic Effective horizontal acreage of over 20,000…
  12. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 12
    EXPANDING INVENTORY Recently completed 3Q13 CURRENT acreage trade at Garrison Draw Addition of horizontal drilling locations in multiple zones Expansion of existing pooled unit Ongoing dialogue with several parties across…
  13. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 13
    CENTRAL MIDLAND BASIN 50+ vertical wells PRODUCTION (recent deepening 600 initiative) Initial two horizontal 500 Daily Production (Boepd) Wolfcamp B wells 400 coming online Deeper into basin 300 Prospective for multiple…
  14. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 14
    CENTRAL MIDLAND BASIN REGIONAL ACTIVITY 15
  15. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 15
    NORTHERN MIDLAND BASIN Delineation program LACEY NEWTON 2801 ongoing in Borden 600 County High-grading acreage 500 Daily Production (Boepd) with Mississippian chat 400 focus 300 Encouraging vertical well drilled in 4Q13…
  16. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 16
    NEW/UPCOMING DATAPOINTS Operational update in 1Q14 Expected 2014 production increase of 120% Permian reserve additions of 9.7 MMBoe in 2013 at a drill- bit (including facilities) F&D cost of 15.32 Average 24 IP rate of over 1,100…
  17. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 17
    FINANCIAL FEBRUARY 2014
  18. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 18
    IMPROVING FINANCIAL PROFILE Significant progress reducing cost of capital Redemption of 50% of Senior Notes Expanded bank borrowing capacity and lending group No common equity issuance since March 2011 Near-term potential for further…
  19. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 19
    BALANCE SHEET STRENGTH Total pro forma Debt-to-Cap CAPITALIZATION(a) of 15% at 9/30/13 500 Positioned for robust 400 horizontal drilling program 300 Near-term liquidity MM 200 Capacity for incremental long-term debt in…
  20. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 20
    SUMMARY FEBRUARY 2014
  21. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 21
    KEY MESSAGES Reaping rewards of early program development efforts Established inventory of de-risked horizontal locations Northern Midland delineation in process Horizontal expertise combined with focus of a smaller company creates…
  22. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 22
    APPENDIX FEBRUARY 2014
  23. The Oil and Services Conference 12 – Callon Petroleum Co. – slide 23
    PV-10 RECONCILIATION (000s) 2013 2012 Change % Change PV-10 Value 301,321 250,097 51,224 20% Future Income Taxes (16,889) (18,949) 2,060 (11)% Standardized Measure 284,432 231,148 53,284 23% Note: PV-10 Value is the present value…

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