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3Q 2018 Earnings – Carrizo Oil & Gas Inc.

Carrizo Oil & Gas Inc. · Nov 5, 2018 · 13 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. 3Q 2018 Earnings – Carrizo Oil & Gas Inc. – slide 1
    3Q 2018 Earnings Presentation November 5, 2018 CRZO
  2. 3Q 2018 Earnings – Carrizo Oil & Gas Inc. – slide 2
    3Q Overview Adjusted EPS Adjusted EBITDA Adjusted EBITDA Margin 0.94 Exceeds consensus of 0.79 209 MM Exceeds consensus of 193MM 35 /Boe Driven by high-margin Eagle Ford Total Production Oil Production Total Operating…
  3. 3Q 2018 Earnings – Carrizo Oil & Gas Inc. – slide 3
    Executing on Corporate Initiatives Strategic Operational Elected to shift capital from the Completed rig shift to the Eagle Delaware Basin to the Eagle Ford Shale and have begun Ford Shale through mid-2019 drilling two additional…
  4. 3Q 2018 Earnings – Carrizo Oil & Gas Inc. – slide 4
    2018 Development Plan Synergistic Development of High-quality Assets 800 - 825 MM Capital Budget 4Q18 Program Highlights Focus on high-return oily plays 4-rig development program in the Eagle Ford Shale 90% 2-rig development…
  5. 3Q 2018 Earnings – Carrizo Oil & Gas Inc. – slide 5
    Strong Track Record of Growth Total Production Crude Oil Production 70 18% 45 19% CAGR CAGR 40 60 35 50 Net Daily Prod. (MBoe/d) Net Daily Prod. (MBbl/d) 30 40 25 30 20 15 20 10 10 5 0 0 FY15 FY16 FY17…
  6. 3Q 2018 Earnings – Carrizo Oil & Gas Inc. – slide 6
    Eagle Ford Shale Operations Summary 3Q Highlights Historical Production 16-well multipad development in the Brown 50 Trust project area continues to meet expectations 40 MBoe/d Began drilling two additional large-scale multipad…
  7. 3Q 2018 Earnings – Carrizo Oil & Gas Inc. – slide 7
    Delaware Basin Operations Summary 3Q Highlights Historical Production Increased production by 29% versus the prior 30 quarter 25 Reduced unit operating expenses by 6% versus 20 MBoe/d the prior quarter 15 10 Reported strong…
  8. 3Q 2018 Earnings – Carrizo Oil & Gas Inc. – slide 8
    Delaware Basin Strong Results from Wolfcamp A and B Ford West Area Phantom Area Culberson Reeves Reeves 1 2 3 Ward 4 Wolfcamp A Wolfcamp B Wolfcamp A Wolfcamp B 30-Day Rate* 60-Day Rate* Well Name Zone Lateral…
  9. 3Q 2018 Earnings – Carrizo Oil & Gas Inc. – slide 9
    Financial Summary 3Q Highlights Revenue Drivers Exposure to premium-priced LLS market 70 55 continued to drive strong crude oil netbacks 60 50 50 MBoe/d Total production increased by 13% sequentially /Boe 40 45 and was…
  10. 3Q 2018 Earnings – Carrizo Oil & Gas Inc. – slide 10
    Balance Sheet Flexibility Sustaining Leverage Below 2x Historical Leverage Metrics1 Revolving Credit Facility 1.1 billion borrowing base commitment with 4.5x Targeting interest rate of LIBOR + 1.25%-2.25% Leverage Net Debt /…
  11. 3Q 2018 Earnings – Carrizo Oil & Gas Inc. – slide 11
    Guidance Summary Actual Guidance Highlights 3Q 2018 4Q 2018 FY 2018 Production Volumes: Increasing production guidance range Total (Boe/d) 64,627 67,700 - 68,700 60,200 - 60,500 to 60,200-60,500 Boe/d from 58,700- Crude Oil % 63%…
  12. 3Q 2018 Earnings – Carrizo Oil & Gas Inc. – slide 12
    Non-GAAP Reconciliation Reconciliation of Net Income Attributable to Common Shareholders (GAAP) to Adjusted Net Income Attributable to Common Shareholders (Non-GAAP) 3Q 2018 In thousands Per diluted Share Net Income Attributable…
  13. 3Q 2018 Earnings – Carrizo Oil & Gas Inc. – slide 13
    Non-GAAP Reconciliation Reconciliation of Net Income Attributable to Common Shareholders (GAAP) to Adjusted EBITDA (Non-GAAP) to Net Cash Provided by Operating Activities (GAAP) 3Q 2017 4Q 2017 1Q 2018 2Q 2018 3Q 2018 (In thousands,…

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