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Strategic Combination with Fifth Creek Energy – Bill Barrett Corp.

Bill Barrett Corp. · Dec 6, 2017 · 16 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. Strategic Combination with Fifth Creek Energy – Bill Barrett Corp. – slide 1
    Strategic Combination with Fifth Creek Energy December 6, 2017
  2. Strategic Combination with Fifth Creek Energy – Bill Barrett Corp. – slide 2
    Transaction Highlights Creates Leading DJ Basin Pure Play Focused on Rural, Oily Portion of Basin Highlights Strategic combination with Fifth Creek Energy (Fifth Creek) Leading Pure Play Asset Base materially expands DJ Basin…
  3. Strategic Combination with Fifth Creek Energy – Bill Barrett Corp. – slide 3
    Transaction Overview 100 mm shares to be issued to Fifth Creek Combined company initial equity value in excess of Fifth Creek Offset Operators Transaction Terms 1.0 billion BBG Unsecured Notes will be left outstanding 81,000 net…
  4. Strategic Combination with Fifth Creek Energy – Bill Barrett Corp. – slide 4
    Strategic Rationale Merger consistent with strategic focus on highquality, lowrisk oilweighted properties in the DJ Basin Continues preference for rural, open space assets that allow for XRL development Dramatically increases scale…
  5. Strategic Combination with Fifth Creek Energy – Bill Barrett Corp. – slide 5
    Successfully Increases Scale & Value DJ Basin Net Acres YE 2016 Proved Reserves (MMBoe)(1) Q3 2017 Production (MBoe/d) +112% +206% +14% (1) f (2) d (3) D Gross Undeveloped Locations Net Location CountIndicative Economics…
  6. Strategic Combination with Fifth Creek Energy – Bill Barrett Corp. – slide 6
    Pro Forma Capitalization Improved Leverage & Ample Liquidity to Fund HighReturn Development Plan Overview of Announced Financings Pro Forma Capitalization (Excludes Fifth Creek Assumed Debt) Uinta sale announced in November 2017 for…
  7. Strategic Combination with Fifth Creek Energy – Bill Barrett Corp. – slide 7
    Complementary Rural Position Combined acreage position is rural in nature with no urban exposure or associated development complexities Favorable Development Setting Rural Positioning Laramie Operate in rural area of DJ…
  8. Strategic Combination with Fifth Creek Energy – Bill Barrett Corp. – slide 8
    Fifth Creek Position Geological Highlights Hereford Field Meets All Key Acquisition Criteria DJ Basin Net Pay Map Hereford Field is where the horizontal Niobrara play Silo Field kicked off with the Jake well in 2009 Fifth Creek…
  9. Strategic Combination with Fifth Creek Energy – Bill Barrett Corp. – slide 9
    Primary Targets Consistent Across Acreage Consistent geology from Colorado Hereford Field to Wyoming Fairway Field W BBC Talmadge Continuity and consistency of primary targets across acreage position Core Well Niobrara B bench…
  10. Strategic Combination with Fifth Creek Energy – Bill Barrett Corp. – slide 10
    EOG Active on Acreage Offsetting Hereford Source: EOG earnings presentation published August 2, 2017 12
  11. Strategic Combination with Fifth Creek Energy – Bill Barrett Corp. – slide 11
    Strong Well Results Validate Hereford Field Position Initial Well Performance Ranks Among the Best in the DJ Basin 1 20 Jubilee 1541034H (Aug2014) Critter Creek 2781527H (Sep2017) Legend IP30: 1,032 Boe/d 90% Oil IP30: 1,249 Boe/d…
  12. Strategic Combination with Fifth Creek Energy – Bill Barrett Corp. – slide 12
    Fifth Creek Undeveloped Well Economics Deep Inventory of High Return Niobrara & Codell Locations Fifth Creek XRL (9,500') Type Curves & Economics Niobrara Codell 2Phase EUR (MBoe) 400 475 475 575 % Oil 78% 78% D&C (mm) 5.1…
  13. Strategic Combination with Fifth Creek Energy – Bill Barrett Corp. – slide 13
    Implement Development Efficiencies Hereford Field Development Plan BBG NE Wattenberg XRL D&C Cost (mm) Initiate full DSU development 8.25 Drill 100% XRL wells (9,500 lateral 6.25 length) 4.75 4.75 Replicate cost efficiencies…
  14. Strategic Combination with Fifth Creek Energy – Bill Barrett Corp. – slide 14
    DJ Basin Infrastructure DJ Basin Infrastructure / NE Wattenburg Addition of Saddlehorn / Grand Mesa oil pipeline in 2016 significantly increased takeaway capacity to 650 MBbls/d(1) DJ Basin oil production currently in excess of 300…
  15. Strategic Combination with Fifth Creek Energy – Bill Barrett Corp. – slide 15
    Preliminary 2018 Outlook Drilling and Completion Capital Net Sales Production (MMBoe) Anticipate operating 3 rigs in 2018 2018E capital expenditures of 500 600 mm Capital will be allocated to the highest return inventory across the…
  16. Strategic Combination with Fifth Creek Energy – Bill Barrett Corp. – slide 16
    Value Proposition to BBG Shareholders Combination creates leading DJ Basin pureplay with highquality, oily, rural acreage that is consistent with strategic focus Unique opportunity to add a large, undeveloped acreage position at an…

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