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30th Annual Roth Conference – Chaparral Energy, Inc

Chaparral Energy, Inc · Mar 12, 2018 · 29 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. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 1
    30th Annual Roth Conference March 12, 2018
  2. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 2
    General Overview
  3. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 3
    The New Chaparral Transforming into a premier pure-play STACK company Approximately 117,000 net acres Strong pipeline of economic opportunities Solid operating margins and returns, even in a volatile commodity price…
  4. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 4
    Recent Achievements Emerged from restructuring with a strong balance sheet Equitized 1.2 billion in debt and reduced annual interest expense by 110 million Enterprise Value of approximately 1.2 billion Post Emergence Debt/Adjusted…
  5. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 5
    Year End 2017 SEC Proved Reserves 76.3 MMBoe of Reserves(1) 39% Oil, 63% Liquids Reserves by Area 24% 25.6 26.9 39% 1.1 49.7 49.4 37% PDP PDNP PUD OIL GAS NGL STACK OTHER YE 2017 proved reserves increased by 36% over YE…
  6. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 6
    2018 Strategy Building the premier pure-play upstream oil company in the STACK Transition is nearly complete following divestitures in 2017 Pure-Play STACK Remaining non-core legacy producing assets will be monetized Company in the…
  7. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 7
    2018 Guidance 2017 Guidance Company production: 17 - 18 Mboe/d STACK production: 11.5 12.5 Mboe/d Chaparral Operated Gross Wells Planned Capital expenditures: 250 - 275 million STACK D&C Capital : 135 - 155 (1) Garfield Canadian…
  8. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 8
    Asset Overview
  9. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 9
    STACK Overview Asset Overview Approximately 117,000 acres 80 operated horizontal wells 12,000 STACK Boe/d 10,000 8,000 6,000 4,000 8,166 9,136 10,251 10,400 STACK 7,475 2,000 - Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4…
  10. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 10
    One Petroleum System STACK Attributes N REGIONAL STACK CROSS SECTION 60 MILES S Stacked reservoirs proximal to the world- STACK MERGE class Woodford source rock GARFIELD COUNTY KINGFISHER COUNTY CANADIAN COUNTY GRADY COUNTY Efficient…
  11. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 11
    STACK Drilling Joint Venture Joint Venture between Chaparral Energy, L.L.C. and Bayou City Energy (BCE) Fund further development of Chaparrals 117,000 acre STACK position Bayou City Energy will fund 100% of the drilling and…
  12. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 12
    STACK Kingfisher County Overview Lease Operator Spud Date Peak IP-30 Oil % Lateral Length 1 BOWSER 1606 1UMH-9 Chaparral 6/2/16 953 71% 4,433 2 JESTER 1606 1UMH-3 Chaparral 3/22/17 760 83% 3,869 3 CORNER POCKET 1707 1UMH-25 Chaparral…
  13. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 13
    STACK Canadian County Overview Lease Operator Spud Date Peak IP-30 Oil % Lateral Length 1 CUTBOW 1307 1UMH-26 Chaparral 3/29/17 1,402 55% 4,672 2 KILIMANJARO 1106 1UMH-2 Chaparral 7/28/17 1,044 73% 4,776 3 BIG TIMBER 1408 1UMH-2…
  14. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 14
    STACK Garfield County Overview Lease Operator Spud Date Peak IP-30 Oil % Lateral Length 1 WHITE OAK 2206 1UMH-36 Chaparral 5/7/17 868 12% 4,743 2 LEE 1MH-1 E/2 W/2 Chaparral 12/31/13 774 29% 4,242 3 REDWOOD 2105 1MH-3 W/2 W/2…
  15. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 15
    Currently Identified Drilling Inventory by Play Extensive operated drilling inventory STACK Operated Drilling Inventory by Type 184-rig years 4,000 Kingfisher County Osage, Meramec and Oswego 2 rigs 3 rigs 4 rigs 5 rigs 6 rigs…
  16. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 16
    Non-Core Legacy Asset Overview Mature, lower decline legacy fields Low maintenance capital Provides free cash flow to fuel STACK growth Potential strategic alternatives Net Production(1) Gross Margin(1) Net Proved Reserves…
  17. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 17
    Financial Overview
  18. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 18
    Financial Strategy Maintain strong balance sheet Converted all long-term debt to equity As of September 30, 2017, approximately 93 million liquidity, which includes approximately 71 million available on revolver Maintain capital…
  19. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 19
    Financial Position and Liquidity Post EOR Sale EOR divestiture proceeds of Chaparral Pro Forma Liquidity 170 million(1) ( in Millions) as of Adjustments Pro Forma 9/30/2017 9/30/2017 Proceeds used to pay off term loan and portion…
  20. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 20
    Hedging Hedging Strategy Ensures Revenue to Execute Capital Plan Oil Positions Natural Gas Positions 12,000 30,000 9,600 25,000 24,457 10,000 Volumes (Mcf/d) Volumes (bbls/d) 8,000 20,000 50.00 - 60.50 6,298…
  21. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 21
    Why Chaparral Why Chaparral Peer Leading Balance Sheet Strong Management Execution-focused Team with Excellent STACK Player Track Record Deep Inventory of High-return Drilling Prospects 21
  22. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 22
    Appendix
  23. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 23
    STACK Meramec Single Well Economics Type Curve Parameters EUR: 578 MBoe Oil %IP-30: 59% D&C Cost(1): 3.5 million Oil EUR: 233 MBbls Oil %EUR: 40% IP (30-day): 442 Bo/d Initial Decline: 85% b Factor: 1.2 Well Head Gas EUR:…
  24. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 24
    STACK Osage Kingfisher Single Well Economics Type Curve Parameters EUR: 540 MBoe Oil % IP-30 : 67% D&C Cost(1): 3.3 million Oil EUR: 235 MBbls Oil %EUR: 44% IP (30-day): 403 Bo/d Initial Decline: 80.7% b Factor: 1.1 Well…
  25. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 25
    STACK Osage Garfield Single Well Economics Type Curve Parameters EUR : 599 MBoe Oil % IP-30 : 46% D&C Cost(1): 3.3 million Oil EUR: 174 MBbls Oil %EUR: 29% IP (30-day): 259 Bo/d Initial Decline: 83.6% b Factor: 1.4 Well Head…
  26. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 26
    STACK Woodford Black Oil Single Well Economics Type Curve Parameters EUR: 575 MBoe Oil % IP-30 : 55% D&C Cost(1): 4 million Oil EUR:233 MBbls Oil %EUR: 41% IP (30-day):298 Bo/d Initial Decline:73% b Factor: 1.1 Well Head…
  27. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 27
    STACK Oswego Single Well Economics Type Curve Parameters EUR: 290 MBoe Oil % IP-30 : 81% D&C Cost(1): 2.7 million Oil EUR: 231 MBbls Oil %EUR: 80% IP (30-day): 483 Bo/d Initial Decline: 85% b Factor: 1.1 Well Head Gas EUR:…
  28. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 28
    Contact Information Contact Information Investors Joe Evans Chief Financial Officer joe.evanschaparralenergy.com 405-426-4590 Media Brandi Wessel Manager Communications brandi.wesselchaparralenergy.com 405-426-6657…
  29. 30th Annual Roth Conference – Chaparral Energy, Inc – slide 29
    Reconciliations (in thousands) 2016 2015 2014 Reconciliations Net (loss) income (415,720) (1,333,844) 209,293 Interest expense 64,242 112,400 104,241 Income tax (benefit) expense (102) (177,219) 124,443 Depreciation, depletion and…

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