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2Q 2018 Investor Presentation – Halcon Resources Corp

Halcon Resources Corp · Aug 1, 2018 · 24 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. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 1
    Halcn Resources Investor Presentation August 2018
  2. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 2
    Halcn Resources Overview Delaware Basin Overview Total Company Acreage Position Monument Draw (Ward County) Net Acreage: 21,987 with 95% average W.I. 505 gross potential operated drilling locations Wolfcamp EURs of 1.9 MMBoe (80%…
  3. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 3
    Focus for Investors Issue HK Response 294 MM of current liquidity (6/30/18) Projected ample liquidity in all future periods until free cash flow positive status Cash Flow and Liquidity achieved (based on current internal…
  4. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 4
    2nd Half 2018 Plan Focused on Development, Delineation & Gaining Scale 2018 Plan Highlights Q4 17 to Q4 18 Production Growth 3 Rigs Running 25,000 20,000 More rig time allocation to West Quito and Hackberry 20,000 Combination…
  5. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 5
    Recent Well Results & 2H18 POL Plan Monument Draw Recent Well 2Stream IP Results SR 6401H (POL 6/1/18) 1 24 Hour: 2,219 Boe/d 30Day: 1,756 Boe/d / 86% oil (rate continues to improve) 4 SR 7701H (POL 7/17/18) 2 24 Hour: 1,500…
  6. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 6
    Successful Spacing Result in Monument Draw Monument Draw Wolfcamp/3BS Development Spacing Up to 23 3rd BS/Upper/Lower Wolfcamp locations per 1,280 acre DSU(1) WC/3BS Zone 250 SR 7701H (Lower WC) and SR 7702H (Upper 660 WC)…
  7. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 7
    2H18 Plan West Quito Draw Halcon plans to put five Wolfcamp A wells online in West Quito Draw before yearend (All 10K Laterals) 9
  8. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 8
    Recent Well Results & 2H18 POL Plan Hackberry Draw Recent Well 2Stream IP Results Bobby West 1H (POL 5/12/18) 1 24 Hour: 1,331 Boe/d 30Day: 1,069 Boe/d / 87% oil 1 Johnny Hannah 1H (POL 8/1/18) 2 Well flowing back after frac…
  9. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 9
    Focus on Long Lateral Development Average Completed Lateral Length (Ft.) 12,000 Halcn is focused on drilling long Avg. CLL(1) laterals in all areas 10,000 9,567 8,853 Peer Avg: 7,375 ft. Nearterm impact: 8,053 7,887 7,786 8,000…
  10. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 10
    Well Situated with Takeaway and Protected from Basis Blowout Oil Takeaway Gas Takeaway Basis Hedges in Place NearTerm Oil Takeaway: Primary Plan MidCush Hedges Currently in Place: 85% of HKs oil production is currently on LT firm…
  11. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 11
    Wolfcamp Type Curves 10,000 Lateral Monument Draw (2Stream)(1) 2,000 D&C: 12.3 MM Normalized Rate (Boe/d) 1,500 2Stream EUR: 1.9 Mmboe (80% Oil, 20% Gas) 2Stream 30Day Peak IP: 1,434 boe/d 1,000 500 0 1 2 3 4 5 6 7 8 9 10…
  12. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 12
    Monument Draw WC Performance vs. Type Curve Monument Wolfcamp Type Curve (1.9 Mmboe EUR) 14 Note: See Cautionary Statements on page 3 for a discussion on risks associated with EURs.
  13. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 13
    First Year Cumulative Oil Production Wolfcamp 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 Projected First…
  14. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 14
    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…
  15. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 15
    Decades of Drilling Inventory Gross Remaining Operated Locations (1) Derisked base case drilling inventory Additional targets 960 56 2,072 199 117 435 1,112 305 3rd BS/WC 2 WC Zones 3rd BS 2 WC Zones (West 3BS (West…
  16. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 16
    Halcn Field Services Water Gathering Gas Gathering, Compression & Crude Gathering and Area Surface Acreage Produced Water Capacity Fresh Water Capacity Water Storage Capacity Pipelines Treating Storage 23,000 bwpd of injection (4…
  17. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 17
    Halcn Field Services Water Handling and Recycling Water Handling Capacity vs. Forecast (1) Continuing to develop produced water recycling and injection capabilities throughout each asset (see previous slide) Maintaining…
  18. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 18
    Oil & Gas Marketing & Takeaway Monument Draw West Quito Draw Hackberry Draw Current: Current: Current: Oil Marketing & Takeaway All oil sold via truck to single buyer All oil sold via truck to single buyer 70% sold via pipeline…
  19. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 19
    Capitalization & Debt Maturities Pro Forma Capitalization Maturity Schedule Face Value Actual Capitalization (MM) 6/30/2018 Senior Revolver Senior Notes Cash & Cash Equivalents 96 700 625 Senior Secured Revolving Credit Facility 600…
  20. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 20
    2018 Guidance Q3 2018 Q4 2018 Full Year 2018 Production (Boe/d) Total 14,500 15,500 19,000 21,000 14,000 16,000 % Oil 66% 70% % Gas 15% 17% % NGL 15% 17% Capex(1) (MM) D&C Capex 390 440 Infrastructure, Seismic and Other…
  21. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 21
    Investment Highlights 60,000 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…
  22. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 22
    Appendix
  23. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 23
    Commodity Hedges Crude Oil (Bbl/d, /Bbl) Q3 '18 Q4 '18 FY 2018 Q1 '19 Q2 '19 Q3 '19 Q4 '19 FY 2019 Q1 '20 Q2 '20 Q3 '20 Q4 '20 FY 2020 Costless Collars (Bbl/d) 10,000 13,000 11,500 15,000 15,000 16,000 16,000 15,504 1,500 1,500 1,500…
  24. 2Q 2018 Investor Presentation – Halcon Resources Corp – slide 24
    Ownership Summary Ownership Summary as of 7/20/18 Basic Shares Basic Shares Employee Net Fully Fully Diluted (1) Holder Outstanding % Ownership Warrants Options (2) Diluted Diluted % Ownership Other Common Equity Holders 154,379,981…

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