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Q1 2014 Investor Update – EP Energy Corp

EP Energy Corp · May 8, 2014 · 21 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. Q1 2014 Investor Update – EP Energy Corp – slide 1
    1st Quarter 2014 Investor Update May 8, 2014
  2. Q1 2014 Investor Update – EP Energy Corp – slide 2
    1Q Highlights Growth 59% higher oil volumes as all three oil programs continued on record pace 49.1 MBbls/d 1Q14 average up from 30.8 MBbls/d from 1Q13 Adjusted EBITDAX of 357MM up 32% from 1Q13, a 58% increase before the impact of…
  3. Q1 2014 Investor Update – EP Energy Corp – slide 3
    1Q Operations Summary Equivalent Natural Completed Production Oil NGLs Gas Program Wells (MBoe/d) (MBbls/d) (MBbls/d) (MMcf/d) Eagle Ford 35 46.5 31.6 6.8 48 Wolfcamp 20 11.9 7.2 2.4 14 Altamont 11 13.4 9.8 0.1 21 Haynesville - 18.7…
  4. Q1 2014 Investor Update – EP Energy Corp – slide 4
    Oil Production Growth Continued MBbls/d Total Company1 49.1 30.8 Altamont 9.8 1Q 2013 1Q 2014 7.9 1Q 2013 1Q 2014 Eagle Ford 31.6 20.4 Wolfcamp 7.2 1Q 2013 1Q 2014 1.5 1Q 2013 1Q 2014 Operational enhancements &…
  5. Q1 2014 Investor Update – EP Energy Corp – slide 5
    Eagle Ford: Franchise Oil Program Continued growth and improvement in highreturn asset Oil Production (MBbls/d) 31.6 Six rigs running 27.3 26.1 Two stimulation crews active 22.2 35 wells completed in 1Q 18.5 20.4…
  6. Q1 2014 Investor Update – EP Energy Corp – slide 6
    Eagle Ford: High-quality Oil Production 47.0 46.0 45.0 Average API 44.0 Gravity1 43.0 42.0 No gravity adjustments for oil with gravity of 45 degrees or below 41.0 Month 80.0 Monthly Sales Volumes by Product 70.0 Oil…
  7. Q1 2014 Investor Update – EP Energy Corp – slide 7
    Wolfcamp: Maturing Program With Solid Growth Quarterly Production 11.9 Significant production growth Volumes 2.3 Fourth rig added in late March 8.7 1.8 Two stimulation crews 6.4 20 wells completed in 1Q 1.5 9.6 4.4 0.8 6.9…
  8. Q1 2014 Investor Update – EP Energy Corp – slide 8
    Wolfcamp: Improving Results From B/C Development Program 23 B/C Development Wells Cumulative Production (Mboe) 140 Current Type Curve Well Average (up to 29) Individual Wells 120 Well results continued above type curve 100…
  9. Q1 2014 Investor Update – EP Energy Corp – slide 9
    Altamont: Continued Execution Steady production growth from advantaged position in Uinta Basin Oil Production (MBbls/d) 9.8 Four rigs running in 1Q 8.7 11 wells completed 7.6 6.2 6.6 Improved execution with higher 5.1 initial…
  10. Q1 2014 Investor Update – EP Energy Corp – slide 10
    Financial Results 11
  11. Q1 2014 Investor Update – EP Energy Corp – slide 11
    1Q Financial Highlights Focused capital programs delivered excellent results Oil production exceeded expectations Updating full year outlook Cash costs in line with expectations Driving growth in adjusted EBITDAX and unit margin…
  12. Q1 2014 Investor Update – EP Energy Corp – slide 12
    1Q Summary Results 1Q 20131 1Q 20141 Volumes Oil (MBbls/d) 30.8 49.1 Natural gas (MMcf/d) 288 216 NGLs (MBbls/d) 5.2 9.5 Equivalents (Mboe/d) 83.9 94.7 % oil 37% 52% % liquids 43% 62% Adjusted EPS N/M2 0.18 Discretionary Cash…
  13. Q1 2014 Investor Update – EP Energy Corp – slide 13
    Capital Expenditures Million 7 well 11 well Other 4 Other 3 completions completions Altamont Altamont 49 64 30 well completions 6 well Wolfcamp 35 well 20 well Wolfcamp Eagle Ford completions 104 Eagle Ford completions…
  14. Q1 2014 Investor Update – EP Energy Corp – slide 14
    Continued Unit Margin Expansion Revenue1 /Boe 61.58 Adjusted Cash Operating Cost2 48.05 12.92 13.39 13.39 0.29 +4% 0.27 2.79 3.69 12.92 4.77 3.88 2014 estimated adjusted operating cash cost: 5.07 5.55 12.25 - 14.25 1Q…
  15. Q1 2014 Investor Update – EP Energy Corp – slide 15
    Realized Oil Pricing Percent WTI Q413 Q114 Eagle Ford 94% 98% LLS pricing versus WTI stabilized Local refineries returning from Wolfcamp 96% 95% maintenance Expanding takeaway capacity in 2H14 Rapid build-out of rail loading…
  16. Q1 2014 Investor Update – EP Energy Corp – slide 16
    Solid Hedge Program 2014 2015 2016 Fixed Price Hedges1 Oil volumes (MMBbls) 14.6 21.0 11.8 Average floor price (/Bbl) 97.79 91.19 90.47 Percent hedged based on updated 2014 guidance 100% +100% 60% Natural Gas (TBtu) 57.3 58.4 7.3…
  17. Q1 2014 Investor Update – EP Energy Corp – slide 17
    Successful Strategy in Action Immediate upgrade to asset portfolio Divesting non-core South Louisiana Wilcox and non-Haynesville Arklatex tight-gas assets for 150 million Acquired 37,000 acres in Southern Midland Basin immediately…
  18. Q1 2014 Investor Update – EP Energy Corp – slide 18
    EP Energy Today EAGLE EAGLEFORD FORDSHALE SHALE WOLFCAMP WOLFCAMPSHALE1 SHALE Net Acres: 91,675 Net Acres: 175,173 Gross Drilling Locations: 946 Gross Drilling Locations: 3,375 0 10 Acquired acreage, April 2014 miles…
  19. Q1 2014 Investor Update – EP Energy Corp – slide 19
    Raising 2014 Production Growth Original 2/10/14 Year/Year Updated 5/7/14 Year/Year Growth Rate Growth Rate Oil production (MBbls/d) 50 - 54 40% 52- 55 46% Total production (MBoe/d) 94.5 102.5 15% 93.5 99.51 19%2 Capital program (…
  20. Q1 2014 Investor Update – EP Energy Corp – slide 20
    Summary Core business performed very well and above expectations Showed up in results Record volumes Growing EBITDAX Improving margins Higher capital program returns Successful acquisition and divestiture enhance portfolio…
  21. Q1 2014 Investor Update – EP Energy Corp – slide 21
    1st Quarter 2014 Investor Update May 8, 2014

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