GOLDMAN SACHS GLOBAL ENERGY CONFERENCE 2018 Carrizo Oil & Gas January 9-10, 2018 CRZO
Investment Highlights Premier Acreage 122,000 net acres across the Eagle Ford Shale and Delaware Basin, two of the highest return plays in Positions North America Top Tier Track record of delivering EURs that rank among the…
Carrizo Overview 122,000 net acres across the Eagle Ford Shale and Delaware Basin 1,950 net potential horizontal locations in inventory Poised to deliver prudent long-term production Delaware Basin growth Targeting cash flow…
Refocused Portfolio Enhances Long-Term Profitability Q3 Q3 Pro Forma November Pro Forma Actual A&D Activity A&D Activity Production Oil NGL 63% 70% 69% Gas Eagle Ford Delaware Basin 23% 28% 13% DJ Basin 71% Appalachia…
Deep Inventory of High Rate-of-Return Drilling Locations Inventory by Area Inventory by IRR ( 45/Bbl NYMEX) Area IRR Arnold Winfield 8% 75% 23% Brown Trust 8% 50%-75% 41% Gardendale 2% 30%-50% 36% Irvin 13% Eagle Ford Core…
2017 Development Program 2017 DC&I Capital Program - 610 MM Program Highlights Continued focus on high-return oily plays 2-3-rig development program in the Eagle Ford 4-5-rig development program in the Delaware Basin post ExL…
Strong Track Record of Growth Total Production Crude Oil Production 60 40 35 50 30 Net Daily Prod. (MBoe/d) Net Daily Prod. (MBoe/d) 40 25 30 20 15 20 10 10 5 0 0 FY14 FY15 FY16 FY17E FY14 FY15 FY16…
Strong Liquidity Position No Near-term Maturities and Ample Flexibility on the Revolver Debt Maturities Revolving Credit Facility 800 million borrowing base commitment with 900 800 Revolver interest rate of LIBOR + 2.0%-3.0% 800…
Eagle Ford Shale A Premier Industry Asset Acreage almost entirely in the volatile oil window, where returns rank amongst the best in North America 10-15 year drilling inventory with all locations identified, planned, and…
Eagle Ford Shale Overview of Recent Tier 1 Divestiture 245 million cash sales price 24,500 net acres Divested acreage includes 100% of CRZO Tier 1 position Tier 1 acreage accounts for 90% of total acreage Q3 production of 3,400…
Delaware Basin High-return, Stacked-pay Potential Blocky acreage position that supports efficient long-lateral development Acreage contains more than 3,800 of stacked pay targeting up to 10 potential zones Potential to provide…
Delaware Basin High-Quality Stacked Pay with Large Inventory Upside Up to 10 potential targets across a 3,800 section from the Avalon Gross Section Derisked Thickness through the Wolfcamp D (ft.) Drilling Locations 4 of 6…
Delaware Basin Successful Wells in Four Out of Six Wolfcamp Horizons BS3_MID_SHALE [PCF] 9 5/8 IN 10000 2100 Sacks of Cement 10000 10000 BS_SAND_3 [PCF] A 10000 99 5/8 5/8 IINN BS3 2060 Sacks 2060 Sacks ofof Cement…
Delaware Basin Strong Results from Recent Wells Zeman-State A 4042 10H Wolfcamp A completion Delivered a peak 30-day rate of 2,330 Boe/d (52% oil, 1 3 4 69% liquids) on a restricted choke Reeves 2 67 5 Average casing pressure…
Delaware Basin Driving Operational Efficiencies 0 1,000 Since taking over operations in August, ExlLangford OperatedB89 1 2,000 ExL Operated CRZO has been able to significantly improve CRZO Operated CRZO Operated Zeman-State…
Summary Premier Acreage Positions Top Tier Operator Significant Growth Potential Strong Financial Position Experienced Management Team 18 CRZO
Hedge Position Detail Crude Oil Period Type of Contract Daily Volume (Bbl/d) Floor Price Ceiling Price Sub-floor Price Q4 2017 Total Volume 15,000 Swaps 15,000 53.44 FY 2018 Total Volume 30,000 Swaps 6,000 49.55 3-Way Collars…
Eagle Ford Shale API Gravity 3Q17 Net Sales Revenue by Product Zavala Frio Atascosa 90% Oil Gas NGL 5% 5% Dimmit La Salle McMullen 3Q17 Volumes by API Gravity 98% 50 Source: DrillingInfo initial completion reports.…
Eagle Ford Shale Rate-of-Return Profile of Divested Locations Inventory by Area Inventory by IRR ( 45/Bbl NYMEX) Area IRR Arnold Winfield 7% 75% 19% Brown Trust 7% 50%-75% 35% Gardendale 2% Irvin 30%-50% 34% 11% NE LaSalle…
Eagle Ford Shale Well Economics Summary Type Curve 700 210 Total Well Cost 4.0 MM 650 195 600 180 Frac Stages 31.6 550 165 Lateral Length 6,300 ft. 500 150 Gross 553 Mboe 450 135 Daily Average Oil, BOPD Cumulative…
Delaware Basin - Phantom Area Location, Location, Location CRZO State CVX CRZO Christian APC Irene 30-day rate: 1,473 Boe/d 30-day rate: 1,623 Boe/d 30-day rate: 1,229 Boe/d (56% oil) (51% oil) (68% oil) ExL State CVX CDEV Iceman…
Delaware Basin - Western Area Strong Well Results Along the Culberson/Reeves Border XEC Venetian Way 38 1H Capitan Dorothy St. 12 1H 30-day rate: 1,573 Boe/d 30-day rate: 1,021 Boe/d (51% oil) (50% oil) Capitan Cliff Fee 4 1H…
Delaware Basin Offset Operators are Targeting Multiple Horizons APC CDEV CXO DVN EGN FANG JAG NBL OXY PDCE Brushy Canyon P P Y Avalon Shale Y P P P P P 1st Bone Spring Sand P Y P P P 2nd Bone Spring Shale Y Y Y P P 2nd Bone…
Delaware Basin - Phantom Area Well Economics Summary Wolfcamp A Type Curve Wolfcamp A Wolfcamp B 1,200 300 Total Well Cost 8.1 MM 8.1 MM Cumulative Oil MBO, Gas - MBOE 1,000 250 Oil BOPD, Gas - BOEPD Frac Stages 42 42…
Delaware Basin Western Area Well Economics Summary Type Curve Wolfcamp A Total Well Cost 7.0 MM 700 350 Frac Stages 31 600 300 Lateral Length 7,000 ft. Cumulative Oil - MBO, Gas - MBOE Gross 1,862 Mboe 500 250 Oil -…
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