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2Q 2019 Earnings Presentation – Riviera Resources

Riviera Resources · Aug 8, 2019 · 19 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. 2Q 2019 Earnings Presentation – Riviera Resources – slide 1
    Second Quarter 2019 Supplemental Presentation
  2. 2Q 2019 Earnings Presentation – Riviera Resources – slide 2
    Riviera Resources Recent Developments Highlighted Accomplishments: Increased previously announced 100 million share repurchase authorization to a total of 150 million Returned over 140 million of capital to shareholders through share…
  3. 2Q 2019 Earnings Presentation – Riviera Resources – slide 3
    Riviera Resources Sum of the Parts 1 2 Balance 3 Sheet Growth Oriented Assets Growth Oriented Midstream business Blue Income Generating Assets Upstream Mountain funded by Strong Balance Cash Credit Credit requiring minimal…
  4. 2Q 2019 Earnings Presentation – Riviera Resources – slide 4
    Riviera Upstream Assets Overview 247 MMcfe/d(1) 1.0 Tcfe(2) 12%(2) Second Quarter 2019 79% Natural Gas Approximate Net Production 18% NGL Base Decline Rate Growth Assets Low-Decline Assets Hugoton Net Production of 104 MMcfe/d…
  5. 2Q 2019 Earnings Presentation – Riviera Resources – slide 5
    Riviera Upstream Pro-Forma Proved Developed Reserves(1) Proved Developed Reserves as of June 30, 2019 YE 2018 Proved Mid-Year 2019 Developed PV-10 Mid-Year 2019 Pro-Forma at 2.75 / MMBtu Pro-Forma Proved Developed & 60.00 / Bbl (1)(2)…
  6. 2Q 2019 Earnings Presentation – Riviera Resources – slide 6
    Riviera Resources Pro-Forma Sum of the Parts Value MY 2019 RVRA Market Pro-Forma Capitalization 800 Proved Developed assuming PV-10 at 12.00 / share(3) 2.55 / MMBtu & 700 60.00 / Bbl (see slide 8) 46 99 (62) 600 47 Blue…
  7. 2Q 2019 Earnings Presentation – Riviera Resources – slide 7
    Anadarko Basin Anadarko Basin Leasehold Position Approximately 105,000 net leasehold acres throughout the Anadarko Basin Approximately 70,000 net acres in NW STACK Core area Current development area Acreage is 98% HBP and 75%…
  8. 2Q 2019 Earnings Presentation – Riviera Resources – slide 8
    North Louisiana Approximately 8,100 net acres across northern North Louisiana Leasehold Louisiana Acreage is 99% HBP Current focus area in the Ruston Field Ruston field is direct offset to prolific Terryville field Significant…
  9. 2Q 2019 Earnings Presentation – Riviera Resources – slide 9
    Blue Mountain YTD 2019 Highlights Average natural gas throughput of 118 MMcf/d in 1H 2019 Natural Gas Connected 18 wells and 13 wells turned to sales on Blue Mountain system in 1H 2019 Gathering & Expect 22 wells turned to sales on…
  10. 2Q 2019 Earnings Presentation – Riviera Resources – slide 10
    Natural Gas System Overview Second quarter of 2019 average natural gas throughput of 120 MMcf/d Recently acquired Lumen system will add over 5 MMcf/d in Q3 2019 with volumes redirected to Cryo plant in Q4 2019 95,000 MMBtu/d of…
  11. 2Q 2019 Earnings Presentation – Riviera Resources – slide 11
    Produced Water System Overview Providing water management services including hauling, pipeline gathering, disposal, treatment and redelivery of recycled water for re-use Initial build out in 2019: Hauling services commenced April…
  12. 2Q 2019 Earnings Presentation – Riviera Resources – slide 12
    Crude Oil Project Initial Buildout In July 2019, executed definitive agreement with Roan Resources to provide crude oil gathering services 10-year term and 89,000 net acre dedication within 9 Townships in Grady and Canadian…
  13. 2Q 2019 Earnings Presentation – Riviera Resources – slide 13
    Contracted Growth Outlook(1) ( in millions) 58 ( in Millions) 12 35 Baseline Adjusted EBITDA (2) 3 46 32 BASELINE 1H 2019 ANNUALIZED (3) BASELINE Q4 2019 ANNUALIZED (4) Gas Gathering & Processing Water…
  14. 2Q 2019 Earnings Presentation – Riviera Resources – slide 14
    2019 Capital Summary ( in millions) Upstream - 68 Million Capital Blue Mountain - 120 Million Capital Acquisition & Integration Merge 5 32 Water NW System Gas STACK 43 Gathering Drilling N LA Seismic 44 & 9 6 53…
  15. 2Q 2019 Earnings Presentation – Riviera Resources – slide 15
    2019 Guidance Upstream Upstream Q3 2019E FY 2019E Net Production (MMcfe/d) 233 255 240 270 Natural gas (MMcf/d) 185 205 195 220 Oil (Bbls/d) 1,900 2,100 1,500 1,800 NGL (Bbls/d) 6,000 6,300 6,000 6,500 Other revenues, net (in…
  16. 2Q 2019 Earnings Presentation – Riviera Resources – slide 16
    Pro-Forma Riviera Upstream 2019 Adjusted EBITDAX Outlook Prior 2019 2019 Riviera Riviera Upstream Upstream Guidance Guidance 100 95 91 90 15 7 (21) 15 80 11 in Millions (1) 70 60 50 40 84 80 76 74 73 30…
  17. 2Q 2019 Earnings Presentation – Riviera Resources – slide 17
    Riviera Resources Share Buybacks Through August 7, 2019 58,832,398 shares ( in millions) outstanding 300 40 250 200 100 150 292 19 252 100 152 152 133 133 50 0 Tender Offer closed 2018 Open Market Aggregate Shares…
  18. 2Q 2019 Earnings Presentation – Riviera Resources – slide 18
    Riviera Upstream Commodity Hedge Portfolio (As of August 1, 2019) 2019 2020 Volume Average Price Volume Average Price Natural Gas (MMMBtu/d) (per MMBtu) (MMMBtu/d) (per MMBtu) Swaps 141 2.88 30 2.82 Collars 20 2.75 - 3.00 -…
  19. 2Q 2019 Earnings Presentation – Riviera Resources – slide 19
    Blue Mountain Commodity Hedge Portfolio (As of August 1, 2019) 2019 Volume Average Price Natural Gas (MMMBtu/d) (per MMBtu) Swaps 15 2.81 Volume Average Price Oil (Bbls/d) (per Bbl) Swaps 98 66.60 Volume Average Price…

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