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4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc.

Carrizo Oil & Gas Inc. · Feb 27, 2018 · 17 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. 4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc. – slide 1
    4Q 2017 Earnings Presentation February 27, 2018 CRZO
  2. 4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc. – slide 2
    4Q Overview Adjusted EPS Adjusted EBITDA Adjusted EBITDA Margin 0.58 184 MM 32 /Boe Exceeds consensus of 0.57 Exceeds consensus of 171MM Up 23% versus 3Q Total Production Liquids Mix Year-end Reserves 62.4 MBoe/d 79% 262…
  3. 4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc. – slide 3
    Executing on Corporate Initiatives Strategic Operational Closed the divestitures of Upgraded drilling fleet Marcellus and Utica Shale for Delaware Basin assets assets during the quarter Continued to deliver strong Announced the…
  4. 4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc. – slide 4
    2018 Development Program 2018 DC&I Capital Program - 775 MM Program Highlights Continued focus on high-return oily plays 2-rig development program in the Eagle Ford Shale 3-4-rig development program in the Delaware Basin Reflects…
  5. 4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc. – slide 5
    Strong Track Record of Growth Total Production Crude Oil Production 70 45 40 60 35 50 Net Daily Prod. (MBoe/d) Net Daily Prod. (MBbl/d) 30 40 25 30 20 15 20 10 10 5 0 0 FY15 FY16 FY17 FY18E FY15 FY16…
  6. 4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc. – slide 6
    Eagle Ford Shale Operations Summary 4Q Highlights Historical Production Grew production by 7% sequentially 50 Operating margin expanded by 25% versus the 40 MBoe/d prior quarter 30 Laid groundwork to begin completing…
  7. 4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc. – slide 7
    Eagle Ford Shale Increased Performance from 2017 Drilling Program 150 125 Cumulative Production, MBo 100 75 50 25 2017 Quarterly Averages 2016 Quarterly Averages 0 0 30 60 90 120 150 180 210 240 270 300…
  8. 4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc. – slide 8
    Eagle Ford Shale Brown Trust Multipad Advantages of Multipad Development Reduces the number of parent-child relationships created over time Reduces the percentage of time wells need to be shut-in for offset completions over the…
  9. 4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc. – slide 9
    Eagle Ford Shale Well Economics Summary Type Curve 700 210 Total Well Cost 4.5 MM 600 180 Frac Stages 33 Lateral Length 6,600 ft. 500 150 Gross 502 Mboe Cumulative Oil, MBO 400 120 EUR Oil Only 382 Mbo Oil, BOPD…
  10. 4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc. – slide 10
    Delaware Basin Operations Summary 4Q Highlights Historical Production Successfully upgraded drilling fleet and 20 transitioned legacy Permian learnings 15 Continued delineating Phantom Area acreage MBoe/d with a focus on the…
  11. 4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc. – slide 11
    Delaware Basin Continued Delineation of Wolfcamp A and B Highlights Strong results seen from Wolfcamp A and B wells 1 3 Higher-than-expected flowing pressures from Reeves 2 4 Wolfcamp B wells 5 Ward Processing yields have exceeded…
  12. 4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc. – slide 12
    Delaware Basin 3x Contracted Expansion of Piped Water-handling Capacity by Year-end 250,000 Current Disposal Capacity Current Upgrade Forecast year-end capacity: Delaware Zone SWD Well 195,000 BWPD 200,000 DBM Midstream Water…
  13. 4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc. – slide 13
    Delaware Basin Well Economics Summary Wolfcamp A Type Curve Wolfcamp A Wolfcamp B 1,200 300 Cumulative Oil MBO, Gas - MBOE Total Well Cost 9.5 MM 9.5 MM 1,000 250 Oil BOPD, Gas - BOEPD Frac Stages 42 42 800 200 Lateral…
  14. 4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc. – slide 14
    Financial Summary 4Q Highlights Revenue Drivers Exposure to premium-priced LLS market helped 70 44 drive strong crude oil netbacks 60 42 50 40 MBoe/d Unit LOE declined sequentially /Boe 40 38 30 36 Adjusted EBITDA…
  15. 4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc. – slide 15
    Guidance Summary Actual Guidance Highlights 4Q 2017 1Q 2018 FY2018 Production Volumes: Delaware Basin expected to drive Total (Boe/d) 40,206 48,600 - 49,800 58,500 - 60,100 strong production growth in 2018 Crude Oil % 9,181 65% -…
  16. 4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc. – slide 16
    Non-GAAP Reconciliation Reconciliation of Net Loss Attributable to Common Shareholders (GAAP) to Adjusted Net Income Attributable to Common Shareholders (Non-GAAP) 4Q 2017 In Thousands Per diluted Share Net Loss Attributable to…
  17. 4Q 2017 Earnings Presentation – Carrizo Oil & Gas Inc. – slide 17
    Non-GAAP Reconciliation Reconciliation of Net Income Attributable to Common Shareholders (GAAP) to Adjusted EBITDA (Non-GAAP) to Net Cash Provided by Operating Activities (GAAP) 1Q 2017 2Q 2017 3Q 2017 4Q 2017 (In thousands, except…

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