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December 2017 Corporate Presentation – Abraxas Petroleum Corp.

Abraxas Petroleum Corp. · Dec 12, 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. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 1
    Abraxas Petroleum Corporate Update December 2017 Raven Rig 1; McKenzie County, ND
  2. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 2
    Corporate Profile NASDAQ: AXAS Headquarters.......................... San Antonio EV/BOE(1,2) 9.54 Shares outstanding(1)......... 165.9 mm Proved Reserves(3).. 44.7 mmboe Market cap(1) .... 343.4 mm NBV Non-Oil & Gas Assets(4)…
  3. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 3
    Key Investment Highlights 8,131 net HBP acres prospective for the Wolfcamp A, B & Bone Spring intervals Multi-zone development across acreage position Delaware Basin Exposure Continue to actively lease and pursue acquisitions recent…
  4. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 4
    2018 Operating and Financial Guidance 2018 Capex Budget Allocation 2018 Operating Guidance Capital % of Gross Net Low High Area Operating Costs (MM) Total Wells Wells Case Case Permian - Delaware 51.0(1) 56.6% 10.0 7.0 LOE (/BOE)…
  5. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 5
    Abraxas CAPEX & Production Outlook (1) 2017-2019 in Boepd Assumes one rig in the Bakken/Three Forks and one rig in the Delaware Incremental Eagle Ford/ 14,000 Austin Chalk (2) 12,000 Barrels of Equivalent per Day (Boepd)…
  6. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 6
    Implied Value Per Acre(1,2) 60,000 50,000 40,000 30,000 20,000 10,000 0 Peer 1 (1) Peer 2 (1) Peer 3 (1) Peer 4 (1) Peer 5 (1) Peer 6 (1) Peer 7 (1) Peer 8 (1) Peer 9 (1) Peer 10 (1) Average AXAS (3) (1)…
  7. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 7
    Asset Base Overview 8
  8. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 8
    Delaware Basin Permian Basin Wolfcamp & Bone Spring Ward/Reeves 8,131 net HBP acres located in the eastern core of the Delaware Basin Up to five identified potential zones (Bone Spring, Wolfcamp) 160+ gross operated identified…
  9. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 9
    Surrounding Delaware Activity 1 19 Sealy Ranch 9301H Sealy Ranch 7703H Halcon Halcon LL: 10,000 LL: 10,000 2 18 Univ Lands Beldin 4H Sealy Ranch 7701H Jagged Peak Halcon LL: 10,000 LL: 10,000 3 Caprito 82 202H 17…
  10. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 10
    Delaware Basin Caprito Development Plan First Pad Caprito 98-201H & Caprito 98-301HR Wolfcamp A1 Caprito 201H producing Wolfcamp A2 Caprito 301HR producing Second Pad Section 83 Pad Two Well Pad Wolfcamp A2 Caprito 83-304H…
  11. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 11
    Delaware Wolfcamp Wolfcamp A2 Well Economics Wolfcamp: Type Curve Assumptions Wolfcamp: ROR vs WTI Abraxas EOY16 Assumptions 604 MBOE gross type curve 77% Oil Initial rate: 1266 boepd di: 99.95% dm: 6.0% b-factor: 1.3 Assumed…
  12. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 12
    Bakken/Three Forks Bakken / Three Forks 4,013 net HBP acres located in the core of the Williston Basin in McKenzie County, ND de-risked Bakken and Three Forks 44 operated completed wells Estimated 32 gross additional operated…
  13. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 13
    Bakken/Three Forks Completion Design Highlights Metrics Cemented liners and high density perf Prop - 870 lbs/ft clusters o create more frac points Fluid 15 bbls/ft o enhance SRV o help localize the stimulation. Fluid type -…
  14. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 14
    Jourdanton Eagle Ford/Austin Chalk 9,360 net acres located in Atascosa County, TX prospective for the Eagle Ford and Austin Chalk Shut Eye 1H EF Test Producing Enhanced completion design Encouraging early performance…
  15. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 15
    Eagle Ford Enhanced Completion Design Highlights Metrics Employing high density clusters and Prop - 2000 lbs/ft diverters for first time o create more frac points Fluid 40 bbls/ft o increase cluster efficiency o enhance SRV Fluid…
  16. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 16
    Appendix 17
  17. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 17
    Abraxas Hedging Profile 4Q17 2018 2019 Oil Swaps (bbls/day) 4,063 3,151 2,200 NYMEX (1) 52.82 50.38 55.27 WTI Midland / WTI CMA (bbls/day) 500 Differential (/bbl) (0.65) Henry Hub Costless Collar (mmbtu/day) 5,000 Ceiling…
  18. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 18
    Adjusted EBITDA Reconciliation Adjusted EBITDA is defined as net income plus interest expense, depreciation, depletion and amortization expenses, deferred income taxes and other non-cash items. The following table provides a…
  19. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 19
    TTM Adjusted EBITDA Reconciliation Adjusted EBITDA is defined as net income plus interest expense, depreciation, depletion and amortization expenses, deferred income taxes and other non-cash items. The following table provides a…
  20. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 20
    Standardized Measure Reconciliation PV-10 is the estimated present value of the future net revenues from our proved oil and gas reserves before income taxes discounted using a 10% discount rate. PV-10 is considered a non-GAAP financial…
  21. December 2017 Corporate Presentation – Abraxas Petroleum Corp. – slide 21
    NASDAQ: AXAS 22

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