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Johnson Rice Energy Conference – Riviera Resources

Riviera Resources · Sep 25, 2019 · 18 slides

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Slides

  1. Johnson Rice Energy Conference – Riviera Resources – slide 1
    Johnson Rice Energy Conference September 2019 New Orleans
  2. Johnson Rice Energy Conference – 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. Johnson Rice Energy Conference – Riviera Resources – slide 3
    2019 Asset Sales Over 500 million of closed or pending asset sales Contract Estimated Close Michigan Closed Transactions Price Proceeds Date in millions in millions Arkoma Jan-2019 68 64 Helium VPP Mar-2019 82 79 Hugoton…
  4. Johnson Rice Energy Conference – Riviera Resources – slide 4
    Riviera Upstream Assets Overview 143 MMcfe/d(1) 308 Bcfe(2) Second Quarter 2019 89% Natural Gas Net Production 5% NGL, 6% Oil Uinta Net Production of 18 MMcfe/d Base decline of 7% Anadarko Non-Operated position Net…
  5. Johnson Rice Energy Conference – Riviera Resources – slide 5
    Riviera Resources Pro-Forma Sum of the Parts Value Prior Mid-Year Mid-Year 2019 RVRA Market 2019 Pro-Forma Pro-Forma Capitalization Proved Developed Proved Developed assuming Producing Producing 13.50 / share (5) (PDP) (PDP) PV-10…
  6. Johnson Rice Energy Conference – Riviera Resources – slide 6
    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%…
  7. Johnson Rice Energy Conference – Riviera Resources – slide 7
    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…
  8. Johnson Rice Energy Conference – Riviera Resources – slide 8
    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…
  9. Johnson Rice Energy Conference – Riviera Resources – slide 9
    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…
  10. Johnson Rice Energy Conference – Riviera Resources – slide 10
    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…
  11. Johnson Rice Energy Conference – Riviera Resources – slide 11
    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…
  12. Johnson Rice Energy Conference – Riviera Resources – slide 12
    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…
  13. Johnson Rice Energy Conference – Riviera Resources – slide 13
    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…
  14. Johnson Rice Energy Conference – Riviera Resources – slide 14
    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…
  15. Johnson Rice Energy Conference – Riviera Resources – slide 15
    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…
  16. Johnson Rice Energy Conference – Riviera Resources – slide 16
    Riviera Resources Share Buybacks Through August 31, 2019 58,695,549 shares ( in millions) outstanding 300 40 250 200 102 150 294 19 254 100 152 152 133 133 50 0 Tender Offer closed 2018 Open Market Aggregate Shares…
  17. Johnson Rice Energy Conference – Riviera Resources – slide 17
    Riviera Upstream Commodity Hedge Portfolio (As of August 31, 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 -…
  18. Johnson Rice Energy Conference – Riviera Resources – slide 18
    Blue Mountain Commodity Hedge Portfolio (As of August 31, 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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