INVESTOR UPDATE EP ENERGY CORPORATION A Fresh Look At EP Energy EP Energy Corporation January 23, 2018 1
OUR A DIFFERENT FOCUS APPROACH Enhance the value of our asset portfolio More nimble company Increase capital efficiency Increased collaboration throughout organization Reduce cash costs per barrel Pursuing new ideas in all asset…
HIGH QUALITY ASSET PORTFOLIO EAGLE FORD (93,000 NET ACRES) PERMIAN (178,000 NET ACRES) ALTAMONT (181,000 NET ACRES) UT Low cost capital Significant resource and Rich resource base efficient program multi-decade drilling…
SUCCESSFUL A&D TRANSACTIONS EAGLE FORD ACQUISITION ALTAMONT DIVESTITURE FRIO EPE acreage Acquired acreage Divested Assets 14 percent of EPE LA SALLE acreage Largest acquisition in EPEs history Favorable market valuation…
SOLID HEDGE PROGRAM Crude Oil (MMbbls) 2018 2019 Hedge-Adjusted 2018 Crude Oil Revenue at Cal-18 Crude Oil Hedge Position Fixed Price million bbls /bbl million bbls /bbl Various WTI Prices Swaps 5.079 56.47 0.73 55.88 1,200 Costless…
2018 TOTAL OIL & GAS EXPENDITURES 2018 600MM 650MM1 Manage capital program near 2017 levels Focused on increasing capital efficiency 20% 10% of capital allocated for new concepts 50% Includes next generation completions 30%…
2018 DRILLING RIGS AND PRODUCTION EAGLE FORD 2017 2018 Preliminary Guidance Oil production (MBbls/d) 46.1 46 - 50 Total production (MBoe/d) 82.3 81 - 87 1 - 2 PERMIAN Benefit from operational enhancements Generate higher cash…
EFFICIENT OPERATING COSTS % Change From 2018 2017 Midpoint Guidance Guidance Reduced salt water disposal and water Lease operating expense (/Boe) 5.00 - 5.70 6% handling costs plus focus on optimizing M&R More efficient organized…
INVESTOR UPDATE EP ENERGY CORPORATION A Fresh Look At EP Energy EP Energy Corporation January 23, 2018 11