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December 2018 Investor Presentation – Riviera Resources

Riviera Resources · Dec 5, 2018 · 21 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. December 2018 Investor Presentation – Riviera Resources – slide 1
    Investor Presentation December 2018
  2. December 2018 Investor Presentation – Riviera Resources – slide 2
    Riviera Resources Recent Developments Completed spin-off from LINN Energy, Inc. (LNGG) on August 7, 2018 (the Spin-Off) Since the Spin-Off, returned over 145 million of capital to shareholders through share repurchases and tender…
  3. December 2018 Investor Presentation – Riviera Resources – slide 3
    Riviera Resources Sum of the Parts Growth Oriented Assets funded by Growth Oriented Midstream business Strong Balance Sheet Income Generating Assets Supported by separate management team requiring minimal capital More than 900…
  4. December 2018 Investor Presentation – Riviera Resources – slide 4
    Riviera Upstream Assets Overview Growth Mid-Continent 302 MMcfe/d 11%(1) Net Production of 56 MMcfe/d Third Quarter 2018 Approximate NW STACK Average Net Production Base Decline Rate Core acreage position of 60,000 net acres…
  5. December 2018 Investor Presentation – Riviera Resources – slide 5
    NW STACK Position NW STACK Position Approximately 60,000 core net acres within Rivieras focus area of Major, Blaine, and Garfield counties Acreage is 100% HBP and 75% operated(1) Acreage located in black oil window Shallow…
  6. December 2018 Investor Presentation – Riviera Resources – slide 6
    East Texas Overview East Texas Position Approximately 110,000 net acres mainly in Limestone, Freestone, and Personville Smith counties, TX Acreage is 98% HBP and 86% operated Significant upside horizontal development of the…
  7. December 2018 Investor Presentation – Riviera Resources – slide 7
    North Louisiana - Overview North Louisiana Position Approximately 100,000 net acres across northern Louisiana Ruston Field Acreage is 99% HBP and 63% operated Ruston field is direct offset to prolific Terryville field…
  8. December 2018 Investor Presentation – Riviera Resources – slide 8
    Arkoma - Overview Arkoma Position Approximately 37,000 net acres mainly in Hughes and Coal counties, OK Acreage is 100% HBP and 46% operated Position is fully de-risked in the Woodford shale with 420 horizontal wells drilled on…
  9. December 2018 Investor Presentation – Riviera Resources – slide 9
    Blue Mountain System Overview Growth-oriented midstream company focused on Merge/SCOOP/STACK plays in Oklahoma System located in core of prolific Merge play, currently a leading operating area in U.S. 80-acre site provides ample…
  10. December 2018 Investor Presentation – Riviera Resources – slide 10
    Blue Mountain Key Statistics Operating Margin (1) Capital Forecast ( in millions) ( in millions) 175 125 20.0 150 Average Throughput Gathered MMcf/d 150 123 96 125 130 15.0 75 100 12 53 10.0 75 61 62 8 50 5.0…
  11. December 2018 Investor Presentation – Riviera Resources – slide 11
    Financial Update
  12. December 2018 Investor Presentation – Riviera Resources – slide 12
    2019 Guidance to be 2018 Guidance Provided Following Budget Approval Q4 2018E FY 2018E Net Production (MMcfe/d) 273 303 322 329 Natural gas (MMcf/d) 220 245 242 248 Oil (Bbls/d) 1,350 1,500 3,240 3,280 NGL (Bbls/d) 7,500 8,100…
  13. December 2018 Investor Presentation – Riviera Resources – slide 13
    Pro-Forma Riviera Upstream 2018 Adjusted EBITDAX Outlook Adjusted Riviera 2018 Pro-Forma Upstream Riviera Estimates Guidance Resources Guidance 140 120 58 100 in Millions 80 (24) 28 142 60 (13) 93 40 68 56 56…
  14. December 2018 Investor Presentation – Riviera Resources – slide 14
    FY 2018 Capital Allocation Total FY 2018 Capital - 190 million ( in millions) Drilling = 38MM Seismic = 6MM Leasing = 10MM Total = 54MM Upstream Assets Oil & Gas Capital (1) 54 Blue Mountain Midstream Q1 - Q3 2018 Asset…
  15. December 2018 Investor Presentation – Riviera Resources – slide 15
    2018 Capital Bridge Full Year ( in millions) 250 225 235 (13) (32) 200 (3) 3 190 190 175 150 125 100 75 50 25 0 Prior Guidance as NW STACK Blue Mountain Blue Mountain North Louisiana Current Guidance of…
  16. December 2018 Investor Presentation – Riviera Resources – slide 16
    Riviera Resources - Pro-Forma Cash 12/31/18 ( in millions) Pro-Forma Estimates 175 150 157 125 100 (133) 75 50 30 (44) 25 24 Net Debt = - 0 (33) (23) (28) (25) (5) (50) Ending Cash Tender Offer Q4 2018E Q4…
  17. December 2018 Investor Presentation – Riviera Resources – slide 17
    Riviera Resources Share Buybacks Through November 30, 2018 Riviera has returned approximately 146 million to shareholders since the Spin-Off ( in millions) 2018 Open Market Share Repurchases and Tender Offer Employee Liquidity…
  18. December 2018 Investor Presentation – Riviera Resources – slide 18
    Commodity Hedge Portfolio Henry Hub and WTI (As of November 30, 2018) Natural Gas Positions(1) Oil Positions(1) 200 191 2,000 171 171 175 1,750 2.75 2.75 1,598 3.00 3.00 Volume Hedged (MMbtu/d) 150 1,500 Volume…
  19. December 2018 Investor Presentation – Riviera Resources – slide 19
    Commodity Hedge Portfolio Natural Gas Basis (As of November 30, 2018) PEPL Basis Positions NGPL TXOK Basis Positions 100 25 Volume Hedged (MMbtu/d) Volume Hedged (MMbtu/d) 20 75 70 60 15 50 10 10 (0.659) (0.641)…
  20. December 2018 Investor Presentation – Riviera Resources – slide 20
    Blue Mountain Commodity Hedge Portfolio Natural Gas Basis (As of November 30, 2018) Southern Star TX OK KS Enable Basis Positions 10 10 Volume Hedged (MMbtu/d) Volume Hedged (MMbtu/d) 5 5 5 5 (0.565) (0.23) 0 0 0…
  21. December 2018 Investor Presentation – Riviera Resources – slide 21
    APPENDIX

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