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4Q 2017 Earnings Presentation – Halcon Resources Corp

Halcon Resources Corp · Feb 28, 2018 · 27 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 – Halcon Resources Corp – slide 1
    Halcn Resources Investor Presentation February 28, 2018
  2. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 2
    Pro Forma Halcn Resources Overview Over the past twelve months, Halcn has built a premier 67,000 acre position in the Delaware Basin for 17,701/net acre (1) Delaware Basin Overview Total Company Acreage Position Monument Draw (Ward…
  3. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 3
    What a Difference A Year Makes HKs Transition into a High Growth Delaware Basin Operator 2017 Strategic Focus 2017 Execution Outcome Improve asset quality / Sold Williston and EF for 2 BN Rapidly growing inventory depth Acquired…
  4. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 4
    Recent Ward County Acquisitions Acquisitions Overview Ward County Acreage Position Three transactions for 381 MM in cash consideration: West Quito Draw 10,524 net acres Current production of 1,100 boe/d 91% operated / 47% HBP /…
  5. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 5
    Ward County A Hotbed of Activity in the Delaware Basin M&A and Well Results Loving Winkler Notable M&A Activity Recent Ward County transaction (green highlighted acreage near HK acreage) Another operator acquired 20,300 net…
  6. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 6
    West Quito Draw Ward County Acreage and Drilling Activity Type Log Univ 1928 1 OOIP / Section 1st BS 58 MMstb 100 2nd BS MMstb 3,500 ft. of pay across 57 3rd BS multiple MMstb target zones 18 Acreage…
  7. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 7
    HKs Avg. Purchase Price of 17,701/acre Is Significantly Below the Average Price of 32,000/acre Paid for Other S. Delaware Basin Transactions Select Southern Delaware Transactions (1) / Adjusted Net Acre (1)(2) OXY / J. Cleo…
  8. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 8
    Growth Plan Q4 17 to Q4 18 Estimated Production (Boe/d) Annual Estimated Production (Boe/d) (2) 17,000 23,000 340% 350% 11,000 5,200 3,700 (1) (1) (2) Q4 2017 PF Q1 2018E Q4 2018E 2017 PF 2018E Note: See…
  9. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 9
    Multiple Targets Across All Acreage Monument Draw Type Log West Quito Draw Type Log Hackberry Draw Type Log 3,600 1st & 2nd BS 2,630 Shale Top Seal 3,520 3rd BS Shale 3rd BS Sand Deep Woodford Deep…
  10. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 10
    Decades of Drilling Inventory Gross Remaining Operated Locations (1)(2) Derisked base case drilling inventory Additional targets 1,008 50 2,183 201 117 440 1,175 187 180 2 WC Zones 3rd BS 2 WC Zones 3rd BS 2 WC Zones…
  11. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 11
    Recent Drilling Results Monument Draw Area 1: HK SR 7901H (5,305) Vertical Frac in 3rd BS with 117 24HR IP: 1,659 Boe/d boe/d 24 Hr. IP Rate (61% oil) 30D IP: 1,343 Boe/d 82% oil 2: HK SR 7902H (9,267) 4 24HR IP: 1,655 Boe/d 20D…
  12. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 12
    Recent Drilling Results Hackberry Draw 1: HK Lindsey 1H (9,616) 660Lower 4: HK Jose Katie West 1H (9,705) 3 2 24HR IP: 1,190 Boe/d WC Spacing 24HR IP: 1,342 Boe/d 30D IP: 973 Boe/d 83% oil Test 10D IP: 1,205 Boe/d 84% oil 2: HK…
  13. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 13
    Monument Draw (Ward County) Type Curve (10,000 Lateral) Wolfcamp Type Well (2Stream Gross Production) 2,000 1,800 D&C: 11.5 MM Normalized Rate (Boe/d) 1,600 2Stream EUR: 1.9 Mmboe (80% Oil, 20% Gas) 1,400 2Stream 30Day Peak…
  14. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 14
    West Quito Draw (Ward County) Type Curve (10,000 Lateral) Wolfcamp Type Well (2Stream Gross Production) 2,000 1,800 D&C: 11.0 MM Normalized Rate (Boe/d) 1,600 2Stream EUR : 2.2 Mmboe (50% Oil, 50% Gas) 1,400 2Stream 30Day…
  15. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 15
    Hackberry Draw (Pecos County) Type Curve (10,000 Lateral) Wolfcamp Type Well (2Stream Gross Production) 1,000 D&C: 10.5 MM 900 2Stream EUR: 1.5 Mmboe (75% Oil, 25% Gas) Normalized Rate (Boe/d) 800 2Stream 30Day Peak IP: 942…
  16. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 16
    Hackberry Draw WC Performance vs. Type Curve Legacy wells underperformed type curve from 50 to 300 days due to timeliness of artificial lift installations and inefficient gas lift design Hackberry Wolfcamp Type Curve (1.5 Mmboe…
  17. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 17
    First Year Cumulative Oil Production Comparison 419,576 319,999 255,999 232,339 209,788 174,255 Monument Draw WC West Quito Draw WC Hackberry Draw WC Oil (Bbls) Combined (Boe) West Quito Draws First Year…
  18. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 18
    Deeper Targets Deep Woodford Prospect in Monument Draw Deep Wolfcamp Sand Prospect in Hackberry Draw Deep Woodford present across southern Monument Draw acreage Present across most of Hackberry Draw acreage Recently successfully…
  19. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 19
    Halcn Field Services Water Management Overview Key Infrastructure for Operational Development 100% HK owned water systems are sufficient to handle all produced water and provide all water for completions Water infrastructure is…
  20. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 20
    Halcn Field Services Water Management Advantages Key Infrastructure for Cost Control Hackberry Draw SWD LOE Cost Control Example (1,2,6) Operational Advantages 12.00 11.43 Net SWD LOE / Boe Eliminates dependence on 3rd party…
  21. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 21
    Pro Forma Capitalization Highlights Pro Forma Capitalization Adjusted HK Assumed Simple capital Face Value Exercise of the Monument Draw 6.75% HY Common Equity Excluding Future Acquistions West Quito Draw Exercise of…
  22. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 22
    Investment Highlights 67,000 net acres in the oily window of the Delaware Basin (70%+ oil) Significant Inventory Over 2,000 gross operated locations with an average lateral length of 9,500 ft. Manageable HBP requirements…
  23. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 23
    Appendix
  24. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 24
    Improving Pecos County Drilling Efficiencies Hackberry Draw 10,000 Lateral Wells Average Intermediate Spud to Total Depth Cycle Times 35.00 30.00 29.36 25.65 25.00 23.01 20.47 Days, Int. spud to RR 20.00 18.65…
  25. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 25
    Hedging Summary Crude Oil (Bbl/d, /Bbl) Q1 '18 Q2 '18 Q3 '18 Q4 '18 FY 2018 Q1 '19 Q2 '19 Q3 '19 Q4 '19 FY 2019 Costless Collars (Bbl/d) 8,000 9,000 10,000 11,000 9,510 9,000 8,000 8,000 8,000 8,247 Ceiling (1) 56.82 56.26 55.98…
  26. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 26
    Ownership Summary Ownership Summary as of 1/31/18 Basic Shares Basic Shares Employee Net Fully Fully Diluted (1) (2) Holder Outstanding % Ownership Warrants Options Diluted Diluted % Ownership Other Common Equity Holders 145,221,648…
  27. 4Q 2017 Earnings Presentation – Halcon Resources Corp – slide 27
    Contact Information Quentin Hicks EVP Finance and Investor Relations 832.538.0557 qhickshalconresources.com

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