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Year End 2018 Earnings Presentation – Lilis Energy Inc.

Lilis Energy Inc. · Mar 8, 2019 · 23 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. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 1
    Year-End 2018 Earnings Presentation NYSE American LLEX Joseph Daches, President and CFO
  2. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 2
    LLEX 2018 Highlights & Achievements 2018 oil production of 3.0 MBbls/d (+193% y/y), total production of 5.0 MBOE/d (+215% y/y) Oil, natural gas, and NGL sales revenue increased 225% to 70MM Reduced LOE from 10.14/BOE in 2017 to…
  3. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 3
    LLEX Recent 2019 Highlights Transformative recapitalization transaction results in a simplified, RBL-only debt Reduced structure Leverage Projected leverage of approximately 2.0x by year-end 2019 Increased Increased First Lien…
  4. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 4
    2018 Review Record-High Performance & Execution 2018 Capital Expenditures (MM) 2018 Avg. Daily Liquids Production (MBbls/d) 2018 LHAC 20.8 Oil NGL 2017 D&C 2018 SWD Carryover 4.4 Costs 37.1 4.0 5.4 3.4 0.8 0.7 2.7 0.8 0.4 72%…
  5. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 5
    2018 Review Well-Positioned Permian Assets Fuel Ongoing Growth Historical Net Production (MBOE) Proved Reserves (MMBOE) 1,812 42.7 722 575 11.5 1,090 203 128 67 372 0.6 61 2016 2017 2018 2016 2017 2018 Oil (MBbls)…
  6. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 6
    2018 Review Continued Growth of Proved Reserves Year End 2018 Reserve Report Summary (SEC Pricing) (1) Total Proved Reserves YE 2018 Total Net Reserves ( in thousands) (PV-10, in thousands) Oil Gas NGL Total % of PV10 134,870…
  7. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 7
    2019 Guidance 8
  8. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 8
    2019 Outlook & Guidance Significant EBITDAX Growth, Capex Reduction, and Cash Flow Neutrality 2019 plan incorporates 1 operated rig with the ability to flex to 2 rigs in 2H19 Expected to generate strong year-over-year production…
  9. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 9
    Operations Update 10
  10. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 10
    Operations Update Upcoming Well Status & Recent Well Results Upcoming Well Status Well Status Target Count Well Name Lateral Length Flowback Operations 1 Oso 1H Wolfcamp A 1 mile lateral 2 Haley 1H Wolfcamp A 1 mile lateral WCA 3…
  11. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 11
    Operations Update Historical Well Results Historical Well Results Delaware Basin Well Locations IP24/1000' IP24/1000' Lateral Length Bench Well Name IP24 (BOE) (BOE) (Liquids) (ft.) 1 Antelope 1H 1,309 235 125 5,560 19 7 21 5 Bone…
  12. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 12
    Transformative Recapitalization & Liquidity Increase 13
  13. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 13
    Transformative Recapitalization & Liquidity Increase Transaction Overview Transaction Overview Lilis exchanged its Second Lien Term Loan for a combination of new preferred and common equity Significantly reduces the complexity of the…
  14. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 14
    Transformative Recapitalization & Liquidity Increase Pro Forma Capitalization (MM) 12/31/18 PF Adj. PF 12/31/18 Financial & Operating Metrics Cash & Cash Equivalents 21.1 - 21.1 4Q'18 LQA Adj. EBITDAX 43.4 4Q'18 Proved Reserves…
  15. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 15
    Transformative Recapitalization & Liquidity Increase Pro Forma Fully Diluted Share Count Pro Forma LLEX Diluted Share Count (1) 1 Common Stock Issuance 7.8MM shares eliminate Series C&D conversion and voting rights Pro Forma 2L…
  16. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 16
    Appendix 17
  17. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 17
    Perpetual Preferred Stock Summary of Terms Security Class Series C Series D Series E Series F Non-Convert. Participating Preferred Stock Non-Convert. Participating Preferred Stock Convertible Participating Preferred Stock Non-Convert.…
  18. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 18
    Revolving Credit Facility Summary of Terms Borrower: Lilis Energy, Inc. Lead Arranger: BMO Capital Markets Facility: 500 million Senior Secured Revolving Credit Facility governed by a Borrowing Base of 125 million The Borrowing Base is…
  19. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 19
    Current Hedging Schedule Jan - Jun 2019 Jul - Dec 2019 2020 2021 WTI Oil Hedges Current Swap Volume (Bbl) - - 278,446 - Average Daily Swap Volume (Bbl/d) - - 761 - Average Price - - 56.21 - Current Collar Volume Long Put (Bbl) 437,000…
  20. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 20
    Consolidated Statements of Operations For the Years Ended December 31, 2018 2017 ( in thousands except per share data) Oil and gas revenue 70,216 21,612 Operating expenses: Production costs 13,843 5,832 Gathering, processing and…
  21. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 21
    Non-GAAP Adjusted EBITDAX Reconciliation (Unaudited) The following table provides a reconciliation of Net Loss to the non-GAAP Adjusted EBITDAX for the years ended December 31, 2017 and 2018 (please see the Disclaimer on slide 2):…
  22. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 22
    Operations Update Offset Operator Activity & Well Performance (1) Lilis and peer operators active in the Eastern Delaware Basin 1 Red Bud 25 36 32 115H 7 Ludeman 505H Ameredev 2 mile Wolfcamp Concho 1 mile 2nd Bone Spring IP-24:…
  23. Year End 2018 Earnings Presentation – Lilis Energy Inc. – slide 23
    Wobbe Ploegsma VP of Capital Markets & Investor Relations irlilisenergy.com 210.999.5400 NYSE American LLEX

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