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March 2019 Corporate Presentation – Lilis Energy Inc.

Lilis Energy Inc. · Mar 26, 2019 · 33 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. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 1
    Corporate Presentation March 2019 NYSE American LLEX
  2. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 2
    Lilis Energy, Inc. Overview Strategically Positioned in Delaware Basin 2018 & Recent Highlights Pure Play Delaware Basin Operator with Highly Contiguous Acreage Full-year average oil production increased 193% y/y and total production…
  3. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 3
    LLEX Investment Highlights Consideration Lilis Initiatives Delineation and development has established six proven benches and over 1,100 operated locations Depth of Current development plan provides for continued development of our…
  4. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 4
    Operations Update 5
  5. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 5
    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…
  6. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 6
    Operations Update Strong, Repeatable Well Results Validate Core Acreage Position WC A&B 1-Mile Lateral Cumulative Oil Production (MBO) (1,2) Location Map 140 120 100 Cumulative Oil (MBO) Hippo 1H 80 Hippo 2H Lion 3H 60…
  7. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 7
    Operations Update Ongoing Long Lateral Development 1.5-mile Lateral, Cumulative Oil Production (MBO) (1) Wolfcamp Type Log 200 180 160 140 Cumulative Oil (MBO) 120 100 80 Axis 1H 60 Bison 1H 40 20 1.5 mile TC 0 0 50…
  8. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 8
    Operations Update Wolfcamp Type Curve & Economics Cumulative Oil Production (WC 1.5-mile Type Curve) Wolfcamp Type Curve Data by Lateral Length 200 Lateral Length 1.5 Mile 2.0 Mile (Projected) 175 Oil Max IP (Bbl/d) 1,100 1,350…
  9. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 9
    Operations Update Core Delaware Basin Inventory Breakdown (1) Basin Inventory Number of Locations by Landing Zone 18% 28% Bone Spring 211 1,175 54% Wolfcamp 173 153 153 166 319 WCA WCB XY 2nd BSPG 3rd BSPG Other…
  10. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 10
    Operations Update Core Delaware Basin Inventory Breakdown (1) Lilis East vs West Acreage Designations Inventory Location Breakdown By Area Locations Average Lateral 1,175 1,200 10,000 NM 1,000 17% Panther 1H pilot 9,000…
  11. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 11
    Operations Update Continued Growth of Proved Reserves Oil (MMBbls) Gas (Bcf) NGL (MMBbls) Total (MMBOE) 21.2 8.4 42.7 18.6 78.7 37.6 71.5 7.0 7.2 11.5 16.1 1.6 4Q'17 2Q'18 4Q'18 4Q'17 2Q'18 4Q'18 4Q'17 2Q'18 4Q'18 4Q'17…
  12. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 12
    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:…
  13. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 13
    Operations Update 2019 Development Plan Summary Upcoming Well List (1) Upcoming Well Locations Count Well Name Lateral Length 1 Kudu A 2H Wolfcamp 1 mile lateral 2 Kudu 4H Wolfcamp 1 mile lateral 3 Grizzly 3H Bone Spring 2 mile…
  14. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 14
    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…
  15. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 15
    Infrastructure Update 16
  16. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 16
    Infrastructure Update Well Positioned for 2019 with Lower Costs and Basis Protection New Cost Basis Effective March 2019: 0.75/Bbl Oil Gathering System (4.40/Bbl improvement) Salt Creek Midstream (SCM) crude marketing began purchasing…
  17. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 17
    Infrastructure Update Crude Gathering & Receipt Points Prizehog BWZ Wildhog BWX State Com 1H State Com 1H Grizzly Grizzly 2H 1H Lion 3H Lion Hippo Tiger 1H 2H Kudu 1H Beckham SWD 1 WINK Kudu 1H 2H AG Hill 1H Hippo…
  18. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 18
    Infrastructure Update Fresh Water Supply Infrastructure & Offset Operators Overview LLEX has recently secured exclusive rights to some of the only remaining land in the Crittendon area with access to quality fresh water zones…
  19. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 19
    Transformative Recapitalization & Liquidity Increase 20
  20. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 20
    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…
  21. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 21
    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…
  22. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 22
    2019 Outlook Executive Summary With completion of transformative recapitalization in 1Q19, LLEX is strongly positioned to successfully execute its 2019 strategic plan while retaining financial flexibility to quickly adapt to market…
  23. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 23
    Appendix 24
  24. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 24
    Significant Discount to Comparable Transactions Diamondback Energy / Energen Corporation Lilis Acreage Announced Date: 8/14/2018 Transaction Value (MM): 9,200 Net Production (MBoe/d): 90.4 Net Acres: 179,000 Adj. /acre: 33,721 (1)…
  25. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 25
    BLM Auction Results Further Support the Valuation Disconnect for Lilis Acreage Lea County New Mexico Auction Results Bureau of Land Management (BLM) Sale Sept. 5 & 6th 2018 Record lease prices paid over two days of online auction style…
  26. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 26
    Infrastructure Update Agreements for Crude and Natural Gas Takeaway in Place Crude Flow Assurance, Firm Takeaway Gulf Coast Pricing Lilis Acreage Lea Secured cost-effective movement of Lilis oil production in Texas and New Mexico,…
  27. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 27
    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…
  28. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 28
    Current Fully Diluted Share Count Unaudited 3/4/19 PF Exchange (1) LLEX Diluted Share Count Stock Register (Less) Out of the Outstanding 2L Conversion Pro Forma 3/4/19 Money Dilutives 3/4/19 3/4/19 3/4/19 Total Common Shares…
  29. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 29
    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…
  30. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 30
    LLEX Management Team Mr. Ormand brings more than 34 years of industry experience. Mr. Ormand has completed over 25 billion of capital markets and 10 billion of financial advisory transactions as both a principal and banker. Mr. Ormand…
  31. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 31
    LLEX Management Team (contd) Mr. Placke is a registered professional engineer with 37 years of direct hands on engineering and management experience in all George Placke functions of the upstream petroleum production industry. Mr.…
  32. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 32
    LLEX Board of Directors Mr. Ormand brings more than 34 years of industry experience. Mr. Ormand has completed over 25 billion of capital markets and 10 billion of financial advisory transactions as both a principal and banker. Mr.…
  33. March 2019 Corporate Presentation – Lilis Energy Inc. – slide 33
    LLEX Board of Directors (contd) John Johanning is the Technical Director of Vrdes energy business. Based in Houston, he joined the firm in 2017. Prior to joining Vrde, Mr. Johanning was a Vice President at Evercore in Houston, where he…

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