Fortifying & Enhancing Our Position Investor Presentation April 2018 www.energyxxi.com www.energyxxi.com
Highlights and Recent Key Items energy xxi gulf coast, inc. Full Year 2017 Highlights Reported clean balance sheet with cash and cash equivalents of 152 million at December 31, 2017 Implemented significant G&A and LOE cost saving…
Pivotal Points Driving Success for 2018+ energy xxi gulf coast, inc. Completed Strategic Review Process Developed Sustainable Stand-alone Plan Transitional Year 2017 Seasoned Board of Directors & Management Team Gary C. Hanna…
Core Values energy xxi gulf coast, inc. Safety and Relationships Integrity Accountability Innovation Community Environment We are We have a committed to We create an We empower social Safety the success atmosphere our…
Strategy Based on Core Competencies energy xxi gulf coast, inc. Leverage Our Operational, Technical and Commercial Expertise in Conventional Oil and Gas Assets both Offshore and Onshore Grow Value by Developing and Exploiting Our…
Near-Term Tactics energy xxi gulf coast, inc. Execute 2018 Development & Exploitation Program Optimize 2019 Drilling Program & Seek Needed Capital Pursue Offshore & Onshore Acquisition Opportunities Rationalize & Optimize…
EGC Portfolio energy xxi gulf coast, inc. Summary Oil-Weighted Asset Base Year-End Proved Reserves were 84% Oil Operator in the GOM since 2006 Currently concentrated on the GOM Shelf 155 Blocks with 55 Producing Fields 577 Gross…
Focused on Operational Excellence energy xxi gulf coast, inc. EGC Safety Motto Safety without Compromise Every Job, Every Day Cost steering committee formed with focus on identifying and safely delivering value enhancing…
WD 31 High Tide Drill Well 2017 Drill Well Outperforming Pre-Drill Forecast energy xxi gulf coast, inc. WD 31 L-14 ST2 High Tide well was successfully drilled to a C4 Sand Structure total depth of 9,542 MD from WD 31 L Platform…
2018 Drilling Program energy xxi gulf coast, inc. Focused Drilling Program 6 Drill Wells 2 Development wells 2 Water Injection well EGC Core Operating Area 2 Exploitation wells These injection wells are designed to potentially…
WD 73 McCloud PUD Well energy xxi gulf coast, inc. Structure Map F-40 Sand West Delta 73 Field Stats Discovered 1962 by Humble, located in 175 WD Cumulative Production(1): 392 MMBOE OOWCavg -8,265 Infrastructure: 6 production…
ST 54 Koala Exploitation Well energy xxi gulf coast, inc. Structure Map I-20 Sand South Timbalier 54 Field Stats Discovered 1955 by Humble, located in 67 WD Cumulative Production(1): 153 MMBOE Infrastructure: 7 production…
WD 30 Warthog Exploitation Well energy xxi gulf coast, inc. Structure Map & Amplitude D4 Sand West Delta 30 Field Stats Discovered 1948 by Humble, located in Cum production: 45 WD 1.6 MMBO, 2.6 BCF Cumulative Production(1): 752…
2018 Capital Budget energy xxi gulf coast, inc. Estimated Capital: 145 - 175 million Seismic & Other 1% Anticipates drilling six new wells: 55 - 65 million Capitalized Facility improvements: 10 - 15 million G&A 13% Performing…
EGC SEC Reserves Year-End 2017 (1) energy xxi gulf coast, inc. Category Mix Total 88.2 MMBOE 84% Oil Gas NGL 14% 2% PUD 22.0 PDP PDN 56.1 10.1 Oil 84% Reserves Category Net Oil Net NGL Net Gas Net Total MMBO…
EGC Forward Strip Reserves 1-26-18 (1) energy xxi gulf coast, inc. Category Mix Total 92.1 MMBOE 84% Oil Gas NGL 14% 2% PUD 23.2 PDP PDN 58.3 10.6 Oil 84% Reserves Category Net Oil Net NGL Net Gas Net Total MMBO…
SEC and Strip Pricing PV10 energy xxi gulf coast, inc. 1,600 1,400 1,200 1,000 MM 800 600 400 200 0 1P 2P 3P SEC Pricing 15 614 1,119 Strip Pricing 323 1,003 1,555 12/31/17 SEC Pricing: 47.79/BBL, 2.98/MCF…
Changes in SEC Reserves 3-31-17 to 12-31-17 energy xxi gulf coast, inc. Reductions include (8.8) MMBOE for production from March 31 to December 31, 2017 (7.3) MMBOE due to higher estimated LOE costs (5.3) MMBOE for reserve…
Production History energy xxi gulf coast, inc. 45,000 4Q 17 vs. 3Q 17 declined due 40,983 to: 40,000 35,950 Guidance Disruptions due to: 35,000 32,600 Midpoint Hurricane Nate and other 30,000 27,650 26,500 weather-related…
Direct LOE, Insurance and Workovers energy xxi gulf coast, inc. Guidance Midpoint Go forward cost savings 90.0 initiatives: 83.7 81.5 80.8 77.3 77.8 80.0 Sole sourcing items such as labor and 70.0 chemicals 60.0 Supply…
Pipeline Facility Fee Gathering & Transportation energy xxi gulf coast, inc. 25.0 Guidance Pipeline Facility Fee flat 21.7 20.7 Midpoint 10.5 MM quarterly 20.0 19.0 Gathering and Transportation past fluctuations due to: 15.0…
G&A Expenses energy xxi gulf coast, inc. 30.0 Q1 2018 costs 31% below Q1 2017 25.0 EGC realized 8 MM of 0.9 annualized G&A savings Guidance 20.0 Midpoint due to reduced staffing from 2.9 Q1 to Q4 2017 MM 15.0 2017…
2018 Operational Cash Flow energy xxi gulf coast, inc. Midpoint of 2018 production guidance: 28,000 BOEPD 70.00 Midpoint of 2018 cost guidance used for Total LOE, Total G&T and G&A 60.00 18.08 10.13 To adjust Operating Cash…
2019 Scenario with Enhanced Drilling energy xxi gulf coast, inc. This is not forward guidance, but a scenario based on the assumptions listed below 70.00 Enhanced drilling scenario 2019 60.00 23.42 production forecast: 32,000…
Liquidity Profile energy xxi gulf coast, inc. December 31, 2017 MM Total Cash & Cash Equivalents(1) 152 Exit Credit Agreement 290 Less: Amount Drawn ( 74) Less: Letter of Credit Utilization(2) (203) Total Available Credit…
Crude Hedge Profile (As of 03/16/18) energy xxi gulf coast, inc. Currently Hedged - 8,000 bpd of Cal18 50.68 WTI Swaps - 2,000 bpd of Jan-Jun18 55.45 LLS Swaps - 2,500 bpd of Jan-Jun18 56.59 Brent Swaps Capacity to Hedge - 75%…
Full Year 2018 Guidance (As of 03/16/18) energy xxi gulf coast, inc. Q1 2018 Full Year 2018 Production(1) 26,000 - 27,000 BOEPD(2) 26,000 - 30,000 BOEPD(3) Direct LOE 60 - 70 MM 235 - 255 MM Workover/Maintenance 10 - 13 MM 40…
Factors Impacting EGCs Future energy xxi gulf coast, inc. Well Positioned for Future GOM Consolidation Premium Realizations vs. WTI Large Legacy Fields with Upside Highly Leveraged Potential to Increasing Oil Execute Stand…
energy xxi gulf coast, inc. Appendix Nasdaq: EGC 31
Leadership Team energy xxi gulf coast, inc. Douglas E. Brooks Chief Executive Officer & President 34 years Formerly CEO of Yates Petroleum and CEO of Aurora Oil & Gas experience 24 years of service with Marathon Oil Company B.S.…
Adjusted EBITDA Reconciliation energy xxi gulf coast, inc. Adjusted EBITDA is a supplemental non-GAAP financial. Adjusted EBITDA is not a measure of net income or cash flows as determined by United States generally accepted…
energy xxi gulf coast, inc. Al Petrie Investor + Media Relations Coordinator apetrieenergyxxi.com (713) 351-3171 Argelia Hernandez Energy XXI Gulf Coast, Inc. Investor + Media Relations Specialist 1021 Main Street…
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