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Permian Basin Meetings – Energen Corp.

Energen Corp. · Apr 3, 2014 · 23 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. Permian Basin Meetings – Energen Corp. – slide 1
    Wolfcamp Cline Wolfberry 3rd Bone Spring Exploring & Developing the Midland and Delaware Basins Permian Basin Meetings April 23, 2014
  2. Permian Basin Meetings – Energen Corp. – slide 2
    ENERGEN INVESTMENT HIGHLIGHTS Domestic asset base 2.4 billion BOE of 3P and Contingent Resources potential in Wolfcamp and Cline shales in Permian Basin Substantial drilling potential in Midland AND Delaware basins: 5,500 unrisked…
  3. Permian Basin Meetings – Energen Corp. – slide 3
    ENERGEN PROFILE NYSE:EGN SharesOutstanding(02.14.14) 72.7 MM 3P Reserves/ MarketCap(03.31.14) 2013TotalDebt 5.9 1.9 B B CO Contingent Resources EnterpriseValue(03.31.14) 7.8 B SanJuanBasin/Other: at YE2013 PV10Pretax(12.31.13)…
  4. Permian Basin Meetings – Energen Corp. – slide 4
    DOUBLE-DIGIT OIL/NGL PRODUCTION GROWTH (MMBOE) (MMBOE) 10.0 2011 9.6 2012 9.1 24.9 2013 8.4 2014eMidpoint 23.3 3.8 7.4* 21.2 3.2 2.6 17.5 5.4* 5.1 5.0 4.8 15.6 2.2 4.7 14.8 11.4 4.4 1.9 10.4 1.8 8.7 3.7 3.5 6.3 2.9 4.7…
  5. Permian Basin Meetings – Energen Corp. – slide 5
    3P/CONTINGENT RESOURCES = 3.3 BILLION BOE ProvedReservesbyProduct 3PReserves/ContingentResourcesbyArea (MMBOE) 343 346 348 303 54 56 63 18% 258 41 4% 44% 30 130 103 155 165 78 34% 160 150 159 135 120 Delaware 2009 2010…
  6. Permian Basin Meetings – Energen Corp. – slide 6
    2014 CAPITAL, DRILLING/DEVELOPMENT PLANS CapitalInvestment: 1,050MM MidlandBasin MidlandBasin: 668MM Wolfcamp/Cline Wolfberry Facilities/Other DelawareBasin: 315MM 475MM 121MM 72MM 57netwells 49netwells CentralBasin: 42MM…
  7. Permian Basin Meetings – Energen Corp. – slide 7
    2014 GUIDANCE AfterTaxCashFlows Exploration&Production (MM) 907 910 937 Assumed pricesunhedged volumes: 4.00gas90oil86NGL 802 740 737 Est.E&Pexpenses/BOE*: LOE: 11.25 11.75 Prod.Taxes 2.75 2.95 812 DD&A: 20.50 21.50 794 842…
  8. Permian Basin Meetings – Energen Corp. – slide 8
    PRODUCTION OUTLOOK 2014eProductionbyQuarter PDPDeclineRatesOverTime (MMBOE) (basedonYE13PDPreserves) 6.8 6.4 5Year 10Year 20Year 5.9 5.8 2.1 (8.0) 2.1 2.1 (9.2) (8.7) 2.1 (9.2) (10.4) (10.6) (11.7) 4.7 (13.2) 4.3 3.8…
  9. Permian Basin Meetings – Energen Corp. – slide 9
    HEDGES MINIMIZE PRICE RISK 74%of2014eproductionhedged CY14CommodityPriceSensitivities 2014ecashcost(continuingoperations): 20.00/barrel OIL 670,000forevery1changefrom90/barrel 2014enetincomebreakeven(continuingops): 41.00/barrel…
  10. Permian Basin Meetings – Energen Corp. – slide 10
    Legacy Assets Eastern Major Acquisitions, 200912 Shelf Permian NEW MEXICO Lea Yoakum Cline Play TEXAS Northwest Shelf Midland Basin Overview Eddy Wolfberry Play Borden Gaines Totalnetacres:300,000 Dawson Delaware…
  11. Permian Basin Meetings – Energen Corp. – slide 11
    Scurry MIDLAND BASIN Wolfcamp Play: Blue Outline Gaines Borden Dawson WOLFCAMP Howard Mitchell Martin 65,500netacres Andrews 1,649potential locationsunrisked Cline Play: Red Outline 2013exploratoryprogram:…
  12. Permian Basin Meetings – Energen Corp. – slide 12
    Dawson Borden MIDLAND WOLFCAMP Howard Mitchell Martin Llano88A101H(ABench) Peak24hourIP: 784boepd (69%oil) Peak30dayAvg: 683boepd (65%oil) Completedlaterallength: 4,279 Glasscock Sterling Midland Lavaca38101H(ABench)…
  13. Permian Basin Meetings – Energen Corp. – slide 13
    MIDLAND BASIN WOLFCAMP, CLINE POTENTIAL 2,475PotentialLocations* Potential Wells* 4,400 6,700 7,500 Net Acres 7,700 Wolfcamp A 345 159 181 65,500 Wolfcamp B 8,050 332 159 177 65,300 8,600 Wolfcamp C 100 64 132 31,000…
  14. Permian Basin Meetings – Energen Corp. – slide 14
    New Mexico 3rd Bone Spring Area Red Outline DELAWARE BASIN Texas Loving Winkler WOLFCAMP Winchester 57-10 1H 106,000netacres University 28-21 1H 3,115potentiallocationsunrisked 2013exploratoryprogram: Benton 3-12 1H…
  15. Permian Basin Meetings – Energen Corp. – slide 15
    DELAWARE BASIN WOLFCAMP RESULTS, 2/14 Winchester57101H (BBench) Winkler Peak24hourIP: Loving 2,387boepd (41%oil) Peak30dayAvg: 2,186boepd (38%oil) Completedlat.length:4,218 University 28-21 1H Tisdale5681H(BBench) Benton 3-12…
  16. Permian Basin Meetings – Energen Corp. – slide 16
    DELAWARE WOLFCAMP POTENTIAL TopofDelawareMtn.Group 3,115Potential 7,550 Locations* 8,450 Potential Net 9,100 Avalon Wells* Acres 9,600 10,600 1,270 106,000 1,165 102,600 11,900 Wolfcamp A 680 56,200 Wolfcamp B Wolfcamp C…
  17. Permian Basin Meetings – Energen Corp. – slide 17
    SAN JUAN BASIN OIL POTENTIAL NiobraraShale DryGasPhase HBP Oilphase Colorado New Mexico 72,900netundevelopedacres Wetgasphase 8,550netundevelopedacres WetGasPhase Farmington Gasphase 58,300netundevelopedacres OilPhase…
  18. Permian Basin Meetings – Energen Corp. – slide 18
    32 YEARS OF DIVIDEND GROWTH 2014dividendraised3.4% AnnualDividendRate Alagascofundsdividendatutilitypayout65% ERCmaymakesmallpayoutcontribution 0.60 0.58 0.54 0.56 0.52 0.50 2009 2010 2011 2012 2013 2014 19
  19. Permian Basin Meetings – Energen Corp. – slide 19
    REASONS TO INVEST IN EGN PermianBasinFocus SubstantialPotentialDrillingInventoryin bothMidlandBasinandDelawareBasin Wolfcamp DoubledigitPermianGrowthTarget SignificantHedgePosition 20
  20. Permian Basin Meetings – Energen Corp. – slide 20
    MIDLAND BASIN WOLFCAMP, CLINE POTENTIAL ByCounty Wolfcamp A Wolfcamp B Wolfcamp C Cline Net Net Net Net Locations NetAcres Locations NetAcres Locations NetAcres Locations NetAcres Glasscock 242 23,700 237 25,000 238 24,700 283 30,000…
  21. Permian Basin Meetings – Energen Corp. – slide 21
    DELAWARE WOLFCAMP POTENTIAL ByCounty Wolfcamp A Wolfcamp B Wolfcamp C Net NetAcres Net NetAcres Net NetAcres Locations Locations Locations Loving 138 11,400 143 11,400 136 10,800 Ward 321 26,700 284 26,000 56 4,900 Winkler 264…
  22. Permian Basin Meetings – Energen Corp. – slide 22
    DELAWARE BASIN WOLFCAMP RESULTS, 2013 PROGRAM Peak24HourIP Peak30dayAverage Completed Frac Well County Zone Lateral Stages Oil NGL Gas Oil NGL Gas Length Boepd Boepd (Bopd) (Bpd) (Mcfd) (Bopd) (Bpd) (Mcfd) University28211H…
  23. Permian Basin Meetings – Energen Corp. – slide 23
    FOR MORE INFORMATION JulieS.Ryland VicePresident InvestorRelations 2053268421 jrylandenergen.com www.energen.com 25

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