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June 2018 Corporate Presentation – Sanchez Energy Corp

Sanchez Energy Corp · Jun 1, 2018 · 32 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. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 1
    Results Driven. Manufacturing Focused. Corporate Presentation June 2018 January 23, 2017 www.sanchezenergycorp.com
  2. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 2
    Sanchez Energy Premier Eagle Ford Shale Operator Premier Low Cost Operator in the Eagle Ford Shale Leader In Multi-Zone Eagle Ford Development Contiguous Acreage Position With 15+ Year Drilling Inventory Capital…
  3. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 3
    Sanchez Energy Overview 1Q18 Production (Boe/d) 80,600 Market Cap(1) Enterprise Value(1) 355 million 3,000 million Asset YE 2017 Proved Reserves (MMBoe) 363 Shares Outstanding 85 million Profile Eagle Ford Acreage Position…
  4. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 4
    Sanchez Energys Three-Year Plan Focus - Deliver peer-leading returns on invested capital - Fund capital spending with internally-generated cash flow on Financial Discipline High Grade - Divest assets that do not compete for…
  5. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 5
    Recent A&D Successes Focused on High-Grading Portfolio Acquired Anadarkos entire Eagle Ford position in a joint venture with Transformative Blackstone/GSO for 2.3 billion in 2017 Comanche Greatly expanded footprint for enhanced…
  6. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 6
    Eagle Ford Focus Total Eagle Ford Thickness Concentrated Acreage Position Maverick Western Eagle Ford Comanche Catarina Multi-Bench Development Across Western Eagle Ford Eagle Ford Acreage is Within a 50-Mile Radius…
  7. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 7
    Eagle Ford Multi-Bench Development Comanche Area 3 Upside from Additional Zones Current Development Target Current Development Target 600 8 2018 Sanchez Energy Corporation
  8. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 8
    High Return, Repeatable Drilling Inventory Inventory of Over 4,000 Net Drilling Locations Over 40% of the Companys drilling inventory generates 30%+ returns at 55/Bbl and 3/MMBtu 65% of 2018 development plan targets Tier 1 locations…
  9. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 9
    Positive Impact of Longer Laterals Impact of Longer Lateral & Newer Completion Designs on Well Results 2016 Avg. lateral length of 6,000 ft. 2017 Avg. lateral length of 6,200 ft. 2018E 2018E Avg. lateral length of 7,700…
  10. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 10
    Cost Structure Compared to Eagle Ford Peers 12,000 9.0 Average Lateral Length Eagle Ford Company Disclosed 2017 D&C Cost (MM) 8.0 10,000 7.0 8,000 6.0 Average Lateral Length (Ft.) 5.0 6,000 4.0 4,000 3.0 2.0…
  11. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 11
    2018 - 2020 Capital Focus Areas Cochina Carla Diamond H Ranch 5 East Ranch 1 Catarina Stumberg North 6 2 Roger Detonio 3 Catarina Ranch Ranch North Central Catarina South Western Catarina South Central…
  12. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 12
    Comanche Area 3 Overview COMANCHE AREA 3 TYPE CURVE 2018 Activity In Area 3 IP (Bbl/d) 588 Initial Decline (%) 77.6% Oil Net D&C Capital 130MM Oil EUR (MBbl) 357 Drilling of 76 Gross (20 Net) Development IP (Mcf/d) 2,810…
  13. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 13
    Comanche Area 5 Overview COMANCHE AREA 5 TYPE CURVE 2018 Activity In Area 5 IP (Bbl/d) 836 Initial Decline (%) 76.3% Oil Net D&C Capital 81MM Oil EUR (MBbl) 536 Drilling of 46 Gross (12 Net) Development IP (Mcf/d) 1,457…
  14. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 14
    South Central Catarina Development 2018 Activity In South Central Catarina Net D&C Capital 95MM Drilling of 16 Gross Development Wells Completions of 16 Gross Development Wells South Central SOUTH CENTRAL CATARINA TYPE CURVE IP…
  15. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 15
    North Central Catarina Development 2018 Activity In North Central Catarina Net D&C Capital 78MM Drilling of 15 Gross Development Wells Completions of 15 Gross Development Wells North Central SN has successfully delineated a New…
  16. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 16
    Eagle Ford Shale: Geographic Location Benefits Margins Eagle Ford Regional Pricing Benefits Eagle Ford Has Direct Access to Premium Markets - Close proximity to Gulf Coast markets for exports - Pipeline connectivity to premium…
  17. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 17
    Extensive Field Infrastructure Extensive Field Gathering and Water Infrastructure Throughout Comanche 3rd Party Gathering System Comanche Water Infrastructure Comanche Acreage Identified for further Infrastructure Buildout Gas…
  18. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 18
    Relationship with Sanchez Midstream Partners LP (SNMP) Western Eagle Ford Focus Results in Synergies Through SNMPs Midstream Asset Base 19 2018 Sanchez Energy Corporation
  19. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 19
    Financial Overview Improve Liquidity Through Potential Asset Divestitures Comanche water delivery system Palmetto producing asset Maverick producing asset Achieve Upside Through Balanced Commodity Mix Improvement to NGL pricing…
  20. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 20
    Active Hedging Program Helps Mitigate Price Volatility Significant hedge position guarantees base level of cash flows Oil Hedges (SN Consolidated) Oil Hedged (Bbls/d) Committed Unhedged Volumes Price (/Bbl) 25,000 52.61 52.56 52.53…
  21. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 21
    Improving Balance Sheet Operating Margins Continue to Increase Deleveraging Remains a Priority Improvement through increase in production Reduce leverage through paydown of UnSub revolver Higher price realizations Targeting leverage…
  22. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 22
    Sanchez Energy: Investment Highlights Dominant Eagle Ford Acreage Position 285,000 net acres in the Eagle Ford Significant Resource Potential Over 1 billion Boe High-Grade Asset Base Potential to divest non-core assets…
  23. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 23
    Appendix 24 2018 Sanchez Energy Corporation
  24. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 24
    2018 Production and Cost Guidance Guidance 2Q 2018 Full Year 2018 Production Volumes: Oil (Bbls/d) 28,000 - 29,000 28,000 - 29,000 NGL (Bbls/d) 27,000 - 28,000 27,000 - 28,000 Natural Gas (Mcf/d) 152,000 - 160,000 152,000 -…
  25. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 25
    2018 Capital Guidance 2018 Capital Budget Eagle Ford Operated Net Net Wells Catarina Comanche Wells Turned to Total Capital Maverick Land/Infrastructure/G&G Drilled Production (MM) Catarina 53 49 225 - 240 Maverick 3 3 15 - 20…
  26. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 26
    Substantially Enhanced Maturity Profile Current RBL bank market highly restrictive with limited flexibility New, longer tenor bond replaces existing, short-dated RBL Clears debt maturity schedule through 2020 (first maturity in June…
  27. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 27
    Strategic JV Facilitated Comanche Acquisition Repeatable Structure Matches Cash Flow with Appropriate Financing Blackstone Sanchez Energy Corporation Energy Partners Non-Recourse Unrestricted Subsidiary Non-Recourse RBL Gavilan…
  28. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 28
    Detailed SN Restricted Subsidiary Hedge Position Crude Oil Hedges Natural Gas Hedges Daily Volume Daily Volume Quarter Type of Contract Bbls/d Swap Price Quarter Type of Contract MMBtus/d Swap Price Swaps 16,000 51.58 Swaps 157,000…
  29. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 29
    Detailed UnSub Hedge Position Crude Oil Hedges Natural Gas Hedges Type of Daily Volume Daily Volume Quarter Contract Bbls/d Floor Price Ceiling Price Quarter Type of Contract MMBtus/d Swap Price Swaps 6,300 55.24 Swaps 34,000 3.26…
  30. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 30
    Non-GAAP Reconciliation Slide Non-GAAP Reconciliation Adjusted EBITDAX Three Months Ended ( in thousands) 3/31/2018 12/31/2017 9/30/2017 6/30/2017 Net income (loss) (4,815) (61,352) 35,823 52,986 Adjusted by: Interest expense…
  31. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 31
    Non-GAAP Reconciliation Slide Non-GAAP Reconciliation Net Debt Three Months Ended 3/31/2018 12/31/2017 9/30/2017 6/30/2017 Sanchez Long Term Debt: Senior Secured Notes 500,000 Senior Unsecured Notes 1,754,077 1,754,250 1,754,250…
  32. June 2018 Corporate Presentation – Sanchez Energy Corp – slide 32
    Non-GAAP Reconciliation Slide Non-GAAP Reconciliation Operating Margin ( i n thous a nds ) Three Months Ended 3/31/2018 12/31/2017 9/30/2017 6/30/2017 Sanchez Operating Margin: Oi l a nd Ga s Revenues 246,426 245,979 184,806…

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