EnVens Characteristics Leverage existing company-owned deepwater infrastructure to execute on 90+ Low-Risk, High- identified drill-bit projects and consistently grow production Impact Production Growth Cash flow supports growth…
Minimal and Manageable Plugging Obligations 416MM (2) future nominal P&A obligations supported by third-party estimates partially offset by 190MM in cash collateral, escrows, and receivables: 23MM existing cash collateral for P&A bonds…
GC 723/767 Mt. Ouray and GC 166 Dothraki Prospects Mt. Ouray Prospect: 1,000+ acre Upper Miocene-age amplitude anomaly prospect in a suprasalt mini-basin Analogous to the MC 698 Big Bend discovery (60-115 MMBOE) and GC 243/244…
EnVens Financial Strategy Maintain Conservative Leverage (except on a temporary basis to fund acquisitions) Net Debt / 2018A Adjusted EBITDA of 0.5x(1) Generate Positive Cash Flow and Maintain Strong Liquidity Expect to fully fund…
Solid Capital Structure 12/31/2018 Capital Structure (MM) Cash 121 Undrawn Revolving Credit Facility -- 11.0% Senior Notes due 2023 325 Total Debt 325 Preferred Equity (1) 129 Common Equity (2) 196 Total Capitilization 650…
EnVen is the Premier Pure-Play Deepwater-Focused Gulf of Mexico Operator in MM USD unless otherwise noted Low risk asset base with significant development and exploitation opportunities with exploration upside High-Quality, Low- Risk…
Experienced Management and Technical Team Key technical and operations members careers focused on Deepwater GoM Substantial executive officer experience creating and running public E&P companies Offshore Name Title Experience…
Historical Financial Information Balance Sheet As of As of ( in thousands) December 31, 2018 December 31, 2017 Cash and cash equivalents (1) 121,184 28,848 Accounts receivable 79,190 68,305 Other current assets 49,134 28,373…
Adjusted EBITDA Reconciliation Year Ended December 31, 2018 2017 Net income 110,653 9,036 Depreciation, depletion, and amortization 196,220 170,372 Income tax expense 22,730 14,095 Accretion of asset retirement obligation 35,016…
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