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Investor Presentation – Halcon Resources Corp

Halcon Resources Corp · Nov 9, 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. Investor Presentation – Halcon Resources Corp – slide 1
    Halcn Resources Investor Presentation November 2018
  2. Investor Presentation – Halcon Resources Corp – slide 2
    Halcn Resources Overview Delaware Basin Overview Total Company Acreage Position Monument Draw (Ward County) Net Acreage: 22,110 with 94% average W.I. 588 gross potential operated drilling locations Wolfcamp EURs of 1.9 MMBoe (80%…
  3. Investor Presentation – Halcon Resources Corp – slide 3
    Recent Achievements Achievement Commentary Raised 200 MM through water infrastructure sale (325 MM total valuation) Successful Infrastructure Results in pro forma liquidity of 418 MM (1) as of 9/30/18 Sale Firm capacity for all…
  4. Investor Presentation – Halcon Resources Corp – slide 4
    Halcns Strategic Rationale for the Midstream Transaction Generate Focus on Proceeds to Accelerating Enhance Upstream Leverage and Development Liquidity Position Provide Firm Demonstrate the Capacity for Embedded…
  5. Investor Presentation – Halcon Resources Corp – slide 5
    NearTerm Drilling Plan Focused on Efficiencies & Gaining Scale NearTerm Plan Highlights Benefits of Jet Pump Installation 3 Operated Rigs Running 1 rig in each area Hackberry Draw focused on northern acreage where we see stronger…
  6. Investor Presentation – Halcon Resources Corp – slide 6
    Attractive BreakEven Well Economics Attractive BreakEven Economics(1) / Bbl (2) Source: Baker Hughes, Wood Mackenzie, Advisor analysis 8 1. Breakevens represent IRRs of 10% and assume gas prices of: 3.03/Mcf in 2018,…
  7. Investor Presentation – Halcon Resources Corp – slide 7
    Monument Draw Recent Well Results 2Stream IP Results SR 6401H (POL 6/1/18) 24Hour: 2,219 Boe/d 1 30Day: 1,869 Boe/d / 86% oil 60Day 1,785 Boe/d / 86% oil 4 SR 7701H (POL 7/17/18) 24Hour: 1,767 Boe/d 7 2 30Day: 1,381 Boe/d /…
  8. Investor Presentation – Halcon Resources Corp – slide 8
    Monument Draw Excellent First Month Oil Productivity HKs Monument Draw Peak Month Oil Production vs. Peers (Bbls) 60,000 HK 30Day Avg. Oil Rate: 41,782 Bbl(2) 54,258 50,000 48,130 48,091 45,678 43,937 40,387 40,000…
  9. Investor Presentation – Halcon Resources Corp – slide 9
    Monument Draw Spacing Test Support HK has successfully demonstrated its ability to decrease spacing without experiencing parentchild interference Spacing Test Pad Overview 7701H and 7702H Microseismic Results Historical Spacing…
  10. Investor Presentation – Halcon Resources Corp – slide 10
    Hackberry Draw Spacing Test Support Spacing Test Pad Overview Belle Alexandra Microseismic Results Historical & Future Spacing Test Programs Jose Katie East 1H & West 1H (currently drilling) Tested 660 spacing WC B target…
  11. Investor Presentation – Halcon Resources Corp – slide 11
    West Quito Draw Shuttle Log 13 HK is Planning to Rapidly DeRisk West Quito Draw and Early Data is Very Positive
  12. Investor Presentation – Halcon Resources Corp – slide 12
    Monument Draw Inventory Summary Stacked Reservoirs Provide Significant Development Inventory and Upside Opportunity Development Inventory Summary (Gross) Monument Draw Type Log Lateral Development Targets Remaining Upside…
  13. Investor Presentation – Halcon Resources Corp – slide 13
    West Quito Draw Inventory Summary Tremendous Upside Potential in Undeveloped Bone Spring and Avalon Formations Development Inventory Summary (Gross) West Quito Draw Type Log Lateral Development Targets Remaining Wells / DSU(1)…
  14. Investor Presentation – Halcon Resources Corp – slide 14
    Hackberry Draw Inventory Summary Thick Bone Spring and Wolfcamp Reservoirs Allow for Stacked Lateral Development Development Inventory Summary (Gross) Hackberry Draw Type Log Lateral Development Targets Remaining Upside…
  15. Investor Presentation – Halcon Resources Corp – slide 15
    Well Situated with Takeaway and Protected from Basis Blowout Oil Takeaway Gas Takeaway NearTerm Oil Takeaway: Primary Plan 85% of HKs oil production is currently on pipe or will be on pipe by LT firm commitment contracts in all areas…
  16. Investor Presentation – Halcon Resources Corp – slide 16
    Halcn Field Services Overview of Retained Oil & Gas Infrastructure Assets Area Surface Acreage Gas Gathering, Compression & Treating Crude Gathering and Storage Building 20 miles of high spec gas gathering pipelines 25 MMCFPD of…
  17. Investor Presentation – Halcon Resources Corp – slide 17
    Capitalization & Debt Maturities Pro Forma Capitalization Maturity Schedule Water Senior Revolver Senior Notes Face Value Actual Infrastructure Pro Forma Capitalization (MM) 9/30/2018 Monetization(2) 9/30/2018 700 625 Cash & Cash…
  18. Investor Presentation – Halcon Resources Corp – slide 18
    Q4 2018 Guidance Q4 2018 Production (Boe/d) Total 18,000 20,000 % Oil 63% 67% Capex(1) (MM) D&C Capex 75 95 Infrastructure Capex (excluding water 20 30 infrastructure) 20 (1) Excludes capitalized G&A.
  19. Investor Presentation – Halcon Resources Corp – slide 19
    Commodity Hedges Crude Oil (Bbl/d, /Bbl) Q4 '18 FY 2018 Q1 '19 Q2 '19 Q3 '19 Q4 '19 FY 2019 Q1 '20 Q2 '20 Q3 '20 Q4 '20 FY 2020 (4,5) Costless Collars (Bbl/d) 13,000 13,000 15,000 15,000 16,000 16,000 15,504 4,000 4,000 4,000 4,000…
  20. Investor Presentation – Halcon Resources Corp – slide 20
    Investment Highlights 57,000 net acres in the oily window of the Delaware Basin (70% oil) Significant Inventory Over 1,900 gross operated locations with an average lateral length of 9,500 ft. Manageable HBP requirements Excellent…
  21. Investor Presentation – Halcon Resources Corp – slide 21
    Appendix
  22. Investor Presentation – Halcon Resources Corp – slide 22
    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…
  23. Investor Presentation – Halcon Resources Corp – slide 23
    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…
  24. Investor Presentation – Halcon Resources Corp – slide 24
    Decades of Drilling Inventory Gross Remaining Operated Locations (1) Derisked base case drilling inventory Additional targets 653 58 201 93 1,898 527 1,245 366 3rd BS/WC 2 WC Zones 3rd BS 2 WC Zones (West 3BS (West…
  25. Investor Presentation – Halcon Resources Corp – slide 25
    Wolfcamp Type Curves 10,000 Lateral Monument Draw (2Stream)(1) 2,000 D&C: 12.6 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…
  26. Investor Presentation – Halcon Resources Corp – slide 26
    Monument Draw WC Performance vs. Type Curve Monument Wolfcamp Type Curve (1.9 Mmboe EUR) 28 Note: See Cautionary Statements on page 3 for a discussion on risks associated with EURs.
  27. Investor Presentation – Halcon Resources Corp – slide 27
    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…
  28. Investor Presentation – Halcon Resources Corp – slide 28
    Monument Draw Gas Treating Plan Q3 18 Q4 18 Q1 19 Q2 19 2H 19 + Beyond Treating Plan: Treat gas at the Treating Plan: Reduced wellhead wellhead via bubble towers with treating given new 3rd party sour chemicals for sales to sweet…
  29. Investor Presentation – Halcon Resources Corp – slide 29
    Ownership Summary Ownership Summary as of 11/1/18 Basic Shares Basic Shares Employee Net Fully Fully Diluted (1) Holder Outstanding % Ownership Warrants Options (2) Diluted Diluted % Ownership Other Common Equity Holders 153,983,097…

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