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Investor Presentation – Southwestern Energy Co.

Southwestern Energy Co. · Dec 31, 2014 · 30 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 – Southwestern Energy Co. – slide 1
    December 2014 Update NYSE: SWN
  2. Investor Presentation – Southwestern Energy Co. – slide 2
    About Southwestern US Lower 48 Gas Production Sorted by 3Q14 (MMcf/d) 4,000 3,500 , SWN is 4th overall as of 3Q14 2013: 6,976 , Bcfe of Reserves Production 657 Bcfe Reserve Life 10.6 Years 3,000 2014: 70%+ of Capex Allocated to…
  3. Investor Presentation – Southwestern Energy Co. – slide 3
    Third Quarter 2014 Highlights Third Quarter 2014 Highlights Record production of 196 Bcfe, up 14%, due to strong Marcellus and Fayetteville results Adjusted earnings(1) of 178 million and discretionary cash flow(1) of 504 million…
  4. Investor Presentation – Southwestern Energy Co. – slide 4
    Proven Track Record For the Periods Ended December 31 Average Realized Average Realized Adjusted EBITDA dj d Proved P d Production (Bcfe) Gas Price (/Mcf) (MM)(1) Reserves (Bcfe) F&D Cost (/Mcfe)(2) 657 2.70 7.52 6.80 6.55…
  5. Investor Presentation – Southwestern Energy Co. – slide 5
    Areas of Operations Exploration & Production Segment PENNSYLVANIA 2013 Reserves: 6,976 Bcfe Production: 657 Bcfe 2014 Production: 758 764 Bcfe ARKANSAS Marcellus Shale OKLAHOMA Reserves: 1,963 Bcf (28%) Production: 151 Bcf…
  6. Investor Presentation – Southwestern Energy Co. – slide 6
    Capital Investments 2,500 2,400 2,207 2,235 Corporate & Other 2,120 2,081 Midstream Services 2 000 2,000 1,796 1,809 Drilling Rigs (( Millions) Property Acquisitions 1,503 1,500 Cap. Expense & Other E&P Leasehold &…
  7. Investor Presentation – Southwestern Energy Co. – slide 7
    Marcellus Shale New York Millennium Bluestone New York Pennsylvania Pennsylvania Stagecoach Bradford County Susquehanna County 33 wells planned for 2014 33 wells planned for 2014 Range Trust West Greenzweig Virginia…
  8. Investor Presentation – Southwestern Energy Co. – slide 8
    Marcellus Gross Production 1,000,000 Gross operated production of approx. 840 MMcf/d as of September 30, 2014 900,000 800,000 700,000 d) oduction (Mcf/d 600,000 500,000 Gross Pro 400,000 300,000 200,000…
  9. Investor Presentation – Southwestern Energy Co. – slide 9
    Marcellus Shale Horizontal Well Performance 18,000 16,000 14,000 12,000 Multiple wells shut-ins for simultaneous operations over Daily Rate, Mcff/d the 700 750 dayy period 10,000 8,000 6,000 4,000 2…
  10. Investor Presentation – Southwestern Energy Co. – slide 10
    Fayetteville Shale Focus Area SWN holds approx. 906,000 net acres in the Fayetteville Shale play. SWN discovered the Fayetteville Shale and has first mover advantage average acreage cost of 320 per acre with a 15% royalty and…
  11. Investor Presentation – Southwestern Energy Co. – slide 11
    Fayetteville Shale Continuous Improvement -62% +104% -12% +800% +570% Days to Drill Lateral Well Cost F&D Cost Production Reserves L Length th ( in millions) ( per Mcf) (in Bcf) (in Bcf) 17.5 5,410 2.53 5,104 5,356 2.39 486 486…
  12. Investor Presentation – Southwestern Energy Co. – slide 12
    Exploration Sand Wash Basin Niobrara Niobrara Structure Map CI: 1000 COLORADO Regional Index Map Moffat Routt Wolf Mtn 1.3 MMBO Powde r Riv e r Wind Riv e r DJ Tow Creek CRAIG 3.0 MMBO Buck Peak 4.9 MMBO…
  13. Investor Presentation – Southwestern Energy Co. – slide 13
    Outlook for 2014 Production target of 758 764 Bcfe in 2014 (estimated growth of 16%). 2013 2014 Guidance(3) Actual NYMEX Price Assumption 3.65 Gas 4.00 Gas 4.25 Gas 4.50 Gas 96.77 Oil 90.00 Oil 90.00 Oil 90.00 Oil Adj. Net…
  14. Investor Presentation – Southwestern Energy Co. – slide 14
    Financial & Operational Summary Nine Months September 30, Year Ended December 31, 2014 2013 2013 2012 2011 ( in millions, except per share amounts) ( in millions, except per share and unit amounts) Revenues 3,076 3 076 2,464 2 464…
  15. Investor Presentation – Southwestern Energy Co. – slide 15
    Gas Hedges in Place Through 2015 Bcff 150 Hedged Average Price Percent 140 Type Volumes per MMBtu Hedged 130 2014 Swaps 455.8 455 8 Bcf 4 34 4.34 60% 120 2015 Swaps 240.0 Bcf 4.40 110 NYMEX 4.42 4.42 4.42 Fixed Price 100 4.42…
  16. Investor Presentation – Southwestern Energy Co. – slide 16
    SWN is One of the Lowest Cost Operators 3.00 2.50 2.00 Lifting Cost 1.50 per Mcfe of Production 1.00 (3 year average) 0.50 0.00 EQT COG RRC SWN SWN CHK NBL SM APC EOG XEC DVN PXD APA MRO SD OXY MUR NFX 9.00…
  17. Investor Presentation – Southwestern Energy Co. – slide 17
    Brown Dense Exploration Project Fayetteville Little River Shale Hempstead Oil Field Arkoma Nevada Camden -4,00 0 Basin -5,00 Gas Field Drew 0 Calhoun Bowie Ouachita SWN Drilled 1 Arkansas Bradley SWN 2014 Plan Texarkana Miller…
  18. Investor Presentation – Southwestern Energy Co. – slide 18
    Denver Julesburg Basin Exploration Project Denver Julesburg Basin Subsea Structure on the Top of Atoka CO KS Denver Arkoma Arkoma Basin B i Basin Fayetteville Fayetteville Shale Shale Julesburg g OK N M AR A Basin R…
  19. Investor Presentation – Southwestern Energy Co. – slide 19
    New Brunswick, Canada Exploration Project Marysville SWN currently holds exploration 2,309,247 acres licenses to over 2.5 million acres within ithi the th Maritimes M iti Basin B i Principal targets are the conventional and…
  20. Investor Presentation – Southwestern Energy Co. – slide 20
    Fayetteville Shale - Horizontal Well Performance Wells Average 30th-Day 60th-Day Placed on IP Rate Avg Rate Avg Rate Avg Lateral Time Frame Production (Mcf/d) ( of wells) ( of wells) Length SWN Gross Operated Production 1st Qtr 2007…
  21. Investor Presentation – Southwestern Energy Co. – slide 21
    Fayetteville Shale - Horizontal Well Performance Mcf/d 5000 5,000 ft Well 304 713 735 663 626 571 527 470 414 353 250 183 142 100 64 38 Count 4500 4,000 ft 1730 1776 1655 1570 1469 1355 1262 1156 1036 912 801 662 562 454 357 275…
  22. Investor Presentation – Southwestern Energy Co. – slide 22
    Midstream Adding Value Beyond the Wellhead Fayetteville Gathering Marcellus Gathering SWNs Fayetteville Shale gathering SWNs Marcellus Shale gathering system t iis one off the th largest l t in i the th U.S. US system t iis…
  23. Investor Presentation – Southwestern Energy Co. – slide 23
    Drilling & Completion Major Cost Categories Average 2014 Fayetteville Shale Well Cost Estimate Major Cost Categories - 2.6MM Fracture Stimulation 23% Water Treatment/Disposal Rig OCTG D&C Fluids Rentals Directional…
  24. Investor Presentation – Southwestern Energy Co. – slide 24
    Water Demand: Perspective Statewide Demand: SWN Operations Demand: 11,093 million gallons/day 7 million gallons/day (450 Wells/year) SWN Operations Less than 0.06% of States water usage 29% 34% Surface Water Recycle/Reused…
  25. Investor Presentation – Southwestern Energy Co. – slide 25
    U.S. Gas Consumption and Sources Bcf 30,000 25,000 20,000 15,000 U.S. gas production and consumption rising in recent years. years 10,000 5,000 0 1975 1980 1985 1990 1995 2000 2005 2010 U.S. Gas U.S. Dry Gas Net…
  26. Investor Presentation – Southwestern Energy Co. – slide 26
    U.S. Electricity Consumption 350 325 Billion 300 Kilowatt Hours Per Month 275 250 225 Source: Bloomberg 29
  27. Investor Presentation – Southwestern Energy Co. – slide 27
    U.S. Electricity Generation Electricity Generation by Energy Source Electricity Generation Capacities Total 4,020 Billion KWh (Nov 2012 Oct 2013). While coal and nuclear power plants operate at high capacity, natural gas power plants…
  28. Investor Presentation – Southwestern Energy Co. – slide 28
    U.S. Gas Drilling and Prices Gas Rigs Gas Price Drilling /MMBtu 2,000 , 16.00 1,500 12.00 1,000 8.00 500 4.00 Gas Rigs Gas Price 0 0.00 Source: Baker Hughes, Bloomberg 31
  29. Investor Presentation – Southwestern Energy Co. – slide 29
    Oil and Gas Price Comparison /Bbl /MMBtu 150 15 Henry Hub WTI Crude Natural Gas (left scale) (right scale) 120 12 90 9 60 6 30 3 0 0 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 Source:…
  30. Investor Presentation – Southwestern Energy Co. – slide 30
    Explanation and Reconciliation of Non-GAAP Financial Measures: Adjusted Net Income Additional non-GAAP financial measures we may present from time to time are adjusted net income and adjusted diluted earnings per share attributable to…

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