Skip to main content Wells Fargo Presentation – Chaparral Energy, Inc | Shale Experts
Loading...
Pm

Wells Fargo Presentation – Chaparral Energy, Inc

Chaparral Energy, Inc · Dec 31, 2013 · 59 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. Wells Fargo Presentation – Chaparral Energy, Inc – slide 1
    Wells Fargo Presentation December 2013
  2. Wells Fargo Presentation – Chaparral Energy, Inc – slide 2
    Company Representatives Mark Fischer Chief Executive Officer & President Earl Reynolds Chief Operating Officer & Executive Vice President Joe Evans Chief Financial Officer & Executive Vice President Melinda Merideth…
  3. Wells Fargo Presentation – Chaparral Energy, Inc – slide 3
    Chaparral: Overview 4
  4. Wells Fargo Presentation – Chaparral Energy, Inc – slide 4
    Chaparral Overview Core Operating Area Mid-Continent Key Focus Areas NOMP, Marmaton and EOR Stable IP base with large upside 727 MMBoe, R/P 16 years Oil focused: (71% oil; 29% gas) 2012 SEC Reserves (65% oil; 35% gas) 2013…
  5. Wells Fargo Presentation – Chaparral Energy, Inc – slide 5
    Operating Areas As of December 31, 2012 (SEC) Core Area Company Total Growth Area December 2012 proved reserves 146.1 MMBoe Non-Core Acreage 2012 average daily production 24.9 MBoe/d Acreage (gross / net): 1,238,747 / 628,564 Field…
  6. Wells Fargo Presentation – Chaparral Energy, Inc – slide 6
    Strong Record of Reserve and Production Growth Chaparrals reserve replacement ratio averaged 383% per year since 2003 Year-End SEC Reserves (MMBoe) (1) Annual Production (MMBoe) 2003 2012 CAGR = 12% 2003 2013F CAGR = 14% 9.7 180…
  7. Wells Fargo Presentation – Chaparral Energy, Inc – slide 7
    Substantial Resource Potential for Both Near-Term and Long-Term Growth (Before Cabot Acquisition) Near-Term 3,002 Unrisked Gross Undrilled Wells 146 MMBoe Proved Reserves Plus 581 MMBoe Unproved Resource Potential Unconventional…
  8. Wells Fargo Presentation – Chaparral Energy, Inc – slide 8
    Capital Budget (mm) 99% of 2013 Capital Program is Oil Focused 2013 2013B Key Drilling Areas Capital Wells Expanded Allocation Northern OK Mississippi Component 2010 2011 2012 Budget % 117 40 Horizontal Marmaton 59 15 Drilling 196…
  9. Wells Fargo Presentation – Chaparral Energy, Inc – slide 9
    Potential in Excess of 727 MMBoe 800 107 727 Near-term + Long-term 700 138 strategy yields significant 600 value increase 70% Oil 500 200 400 Near-term focus on NOMP 300 136 and Marmaton De-risk play, unlock value 200 146…
  10. Wells Fargo Presentation – Chaparral Energy, Inc – slide 10
    Drilling Resource Potential 11
  11. Wells Fargo Presentation – Chaparral Energy, Inc – slide 11
    Inventory of High-Economic Drilling Locations Chaparral has a comparably- Basin IRRs (1) sized inventory of drilling 80% locations that will provide 70% 60% certainty around the 50% Companys production 40% growth rate. 30%…
  12. Wells Fargo Presentation – Chaparral Energy, Inc – slide 12
    NOMP Resource Potential 13
  13. Wells Fargo Presentation – Chaparral Energy, Inc – slide 13
    Northern Oklahoma Mississippi Play Overview NOMP Asset Map The Northern Oklahoma Mississippi Play (NOMP) is a key nearterm focus area for Chaparral KAY GRANT Chaparral acreage of 133,000 net acres in the NOMP WOODS ALFALFA…
  14. Wells Fargo Presentation – Chaparral Energy, Inc – slide 14
    NOMP Play Map Not a Statistical Play 15
  15. Wells Fargo Presentation – Chaparral Energy, Inc – slide 15
    NOMP Recent Operated Well Results Gross 1st 10 Day Avg. IP Well Name Production Start Date NRI % (BOEPD) GLADYS 3H25 08/11/2013 79.98 1,296 MURROW 3H4 09/11/2013 73.08 1,237 GLADYS 2H25 04/08/2013 74.32 1000 PHILLIPS 2H9 08/18/2013…
  16. Wells Fargo Presentation – Chaparral Energy, Inc – slide 16
    NOMP CORE 17
  17. Wells Fargo Presentation – Chaparral Energy, Inc – slide 17
    NOMP Economics NOMP TYPE CURVES(1) EUR = 352 MBOE 250 1400 Type Curve Parameters OIL BOPD 1200 200 EUR : 352 Mboe GAS MCFD 1000 Oil and NGL %: 40-50% 150 D&C cost: 3.5 - 3.7 million BOPD MCFD 800 600 Oil 100 18% 9%…
  18. Wells Fargo Presentation – Chaparral Energy, Inc – slide 18
    NOMP Production Growth 19
  19. Wells Fargo Presentation – Chaparral Energy, Inc – slide 19
    NOMP Stacked Pay Zones 20
  20. Wells Fargo Presentation – Chaparral Energy, Inc – slide 20
    Marmaton Resource Potential 21
  21. Wells Fargo Presentation – Chaparral Energy, Inc – slide 21
    Marmaton Shelf Play OZELL 1H-31 LAMASTER 2H-23 Peak Daily Rate: 242 BOPD Peak Daily Rate: 618 BOPD FLOWERS 1H-8 Cum: 9,890 BO + 1,922 MCF since July 1st Overview Cum: 53,729 BO + 30,143 MCF since May 11th Recovering Load 125,000…
  22. Wells Fargo Presentation – Chaparral Energy, Inc – slide 22
    Marmaton Recent Operated Well Results Production Gross Peak Rate Well Name Start Date NRI BOPD THOMAS 1HX2635 13Sep 39.10% 1312 NORA 1H49 13Jun 80.00% 743 LAMASTER 1H23 13Oct 57.30% 728 LAMASTER 2H23 13May 64.00% 618 BOWLES 1HX…
  23. Wells Fargo Presentation – Chaparral Energy, Inc – slide 23
    Marmaton Shelf Results 24
  24. Wells Fargo Presentation – Chaparral Energy, Inc – slide 24
    Marmaton Shelf Economics MARMATON TYPE CURVES(1) EUR = 168 MBOE 400 140 350 OIL BOPD Type Curve Parameters 120 300 EUR : 168 Mboe GAS MCFD 100 Oil and NGL %: 90% 250 MCFD D&C cost: 3.4 - 3.6 million BOPD 80 200…
  25. Wells Fargo Presentation – Chaparral Energy, Inc – slide 25
    Marmaton Production Growth 26
  26. Wells Fargo Presentation – Chaparral Energy, Inc – slide 26
    Marmaton Horizontal Stacked Pay Zones 27
  27. Wells Fargo Presentation – Chaparral Energy, Inc – slide 27
    CO2 EOR Is A Major Part of Chaparrals Long-Term Growth Story 28
  28. Wells Fargo Presentation – Chaparral Energy, Inc – slide 28
    Chaparral is a Leader in the CO2-EOR Industry Chaparral is the third most active CO2-EOR producer in the U.S. 29
  29. Wells Fargo Presentation – Chaparral Energy, Inc – slide 29
    CO2 EOR Focused Areas Panhandle Area Burbank Area CO2 Tertiary Recovery Projects CO2 Project Inventory 70 units with 1P, 2P & 3P EOR reserves 9 units with proved reserves 10 units with CO2 injection Central CO2 Infrastructure…
  30. Wells Fargo Presentation – Chaparral Energy, Inc – slide 30
    Current CO2 Infrastructure/Future EOR Potential Active CO2 fields Arkalon Ethanol Plant CO2 fields in 5 year plan Coffeyville Fertilizer Plant Chaparral Owned Potential CO2 fields CO2 Source Locations Chaparral CO2 Pipelines Third…
  31. Wells Fargo Presentation – Chaparral Energy, Inc – slide 31
    EOR 2013 Capital Budget(1) Budget by Category (mm) 2012 2013B Infrastructure / Pipelines 105 62 2013 Field Projects (mm) Drilling 20 16 Burbank Area Enhancements / CO2 62 52 North Burbank Unit 84 Purchases Panhandle Area Total 187 130…
  32. Wells Fargo Presentation – Chaparral Energy, Inc – slide 32
    Enhanced Oil Recovery Active Projects* Initial NBU Added 33
  33. Wells Fargo Presentation – Chaparral Energy, Inc – slide 33
    Chaparral Potential EOR Production Growth Net Oil Production 40,000 Additional production from 35,000 non Business Plan projects meeting corporate economic 30,000 hurdles 25,000 Additional CO2 Plan w/ +100 mmcfpd in 2015 at…
  34. Wells Fargo Presentation – Chaparral Energy, Inc – slide 34
    CO2 Resource Upside Potential Existing Chaparral CO2 PL Planned Chaparral PL Possible Chaparral CO2 PL Third Party Pipelines Cum. Recovered 1-3 MMBbls Cum. Recovered 3-5 MMBbls Cum. Recovered 5-10 MMBbls Cum. Recovered 10-50…
  35. Wells Fargo Presentation – Chaparral Energy, Inc – slide 35
    EOR Resource Upside Potential U.S. Department of Energy Office of Fossil Energy Office of Oil and Natural Gas CO2 EOR Technically Recoverable Resource Potential All Reservoirs (All Basins / Areas Assessed) No. Large Reservoirs OOIP…
  36. Wells Fargo Presentation – Chaparral Energy, Inc – slide 36
    North Burbank CO2 Development 37
  37. Wells Fargo Presentation – Chaparral Energy, Inc – slide 37
    North Burbank Unit Overview Chaparrals North Burbank Unit is its largest EOR field and CO2 injection into the North Burbank Unit started in June 2013 Chaparral anticipates that it will spend 1.4 billion associated with this EOR…
  38. Wells Fargo Presentation – Chaparral Energy, Inc – slide 38
    Burbank in Perspective Primary Development Secondary Development Tertiary Development Net BOPD CO2 EOR Waterflood +12000 BOPD 110 Years 39
  39. Wells Fargo Presentation – Chaparral Energy, Inc – slide 39
    North Burbank Unit Achieved Miscibility Pressure in Phase 1 Ph-I Vicinity September November December February October August March June April July May 2012 2013 2012 2013 2012 2012 2013 2012 2012 Average…
  40. Wells Fargo Presentation – Chaparral Energy, Inc – slide 40
    Coffeyville CO2 System Coffeyville CO2 System Asset Map The Coffeyville CO2 System 110 million of total capital expenditures Kansas Oklahoma 23,500 HP compression facility 68.3-mile 8-inch pipeline with potential capacity of…
  41. Wells Fargo Presentation – Chaparral Energy, Inc – slide 41
    COFFEYVILLE CO2 PLANT PHASE 1 COMPLETE 42
  42. Wells Fargo Presentation – Chaparral Energy, Inc – slide 42
    COFFEYVILLE CO2 PLANT 43
  43. Wells Fargo Presentation – Chaparral Energy, Inc – slide 43
    Other CO2 Injection Projects 44
  44. Wells Fargo Presentation – Chaparral Energy, Inc – slide 44
    Camrick CO2EOR Flood Primary Gross CO2 Purchases, Mcf/d Secondary Development Development Tertiary Development Gross Boe/d +1500 BOPD 45
  45. Wells Fargo Presentation – Chaparral Energy, Inc – slide 45
    North Perryton CO2EOR Flood Primary Secondary Development Development Tertiary Development Gross CO2 Purchases, Mcf/d Gross Boe/d +600 BOPD 46
  46. Wells Fargo Presentation – Chaparral Energy, Inc – slide 46
    Booker Area CO2EOR Flood Primary Development Tertiary Development Gross CO2 Purchases, Mcf/d Secondary Development Gross Boe/d +1100 BOPD 47
  47. Wells Fargo Presentation – Chaparral Energy, Inc – slide 47
    Farnsworth Area CO2EOR Flood (West Side Only) Tertiary Development Secondary Primary Development Development Gross CO2 Purchases, Mcf/d Gross Boe/d +2900 BOPD 48
  48. Wells Fargo Presentation – Chaparral Energy, Inc – slide 48
    Financial Overview 49
  49. Wells Fargo Presentation – Chaparral Energy, Inc – slide 49
    Financial Summary 3Q 2013 2010 2011 2012 YTD Price Oil Wellhead (/Bbl) 76.45 92.36 90.87 95.32 Gas Wellhead (/Mcf) 4.36 4.08 2.64 3.51 NGL Wellhead (/Bbl) 55.66 60.84 34.04 32.15 Production (MMBoe) 8.1 8.7 9.1 7.2 Oil (MMBbls)…
  50. Wells Fargo Presentation – Chaparral Energy, Inc – slide 50
    Financial Position to Execute Strategy Current Maturity Profile (mm) Strong Financial Position 325 300 400 550 No senior note maturities before 2020 400 300 Hedge positions in place to secure cash flow in near term 147…
  51. Wells Fargo Presentation – Chaparral Energy, Inc – slide 51
    Financial Metrics per Boe Production (Boe) / Day LOE / Boe 30,000 26,372 20 24,914 22,055 23,713 14.03 14.37 14.48 20,916 9,286 15 13.18 20,000 9,033 12.32 9,882 10,313 10,841 10 10,000 17,086 13,831 15,881 10,613 11,214 5…
  52. Wells Fargo Presentation – Chaparral Energy, Inc – slide 52
    2012 Results and 2013 Guidance Operating Statistics 2012 2013 Results Guidance Capital Expenditures 531 million 505 - 515 million Production 9.1 MMBoe 9.6- 9.8 MMBoe General and Administrative 5.46/Boe 5.25 - 5.75/Boe Lease…
  53. Wells Fargo Presentation – Chaparral Energy, Inc – slide 53
    Hedge Portfolio % of Total Proved Reserves Hedged (as of December 5, 2013) Gas Basis Hedges YR Price % TP 2013 .20 97% 2014 .23 103% Note: Dollars represent average strike price of hedges (includes all derivative…
  54. Wells Fargo Presentation – Chaparral Energy, Inc – slide 54
    Recent Developments 55
  55. Wells Fargo Presentation – Chaparral Energy, Inc – slide 55
    Recent Developments Acquisition of Cabot Panhandle Marmaton Properties Expansion of Marmaton key focus area Purchase price 160.1 MM expected closing date of Mid December (12/18/2013) 56
  56. Wells Fargo Presentation – Chaparral Energy, Inc – slide 56
    Marmaton Activity With Chaparral and Cabot Leaseholds LAMASTER 1H-23 OZELL 1H-31 Peak Rate: 728 BOPD LAMASTER 2H-23 Peak Daily Rate: 242 BOPD Cum: 50,028 BO + 32,188 MCF Peak Daily Rate: 618 BOPD Cum: 48,542 BO + 27,300 MCF since May…
  57. Wells Fargo Presentation – Chaparral Energy, Inc – slide 57
    Cabot Marmaton Value Creation Chaparral / Cabot Marmaton Asset Locator Map Value Creation Doubles footprint to 126,000 acres in high value and high return core area Increases acreage in high quality 90%+ oil resource play…
  58. Wells Fargo Presentation – Chaparral Energy, Inc – slide 58
    Ark-La-Tex Divestiture Board approval obtained for divestiture of Ark-La-Tex and Permian Assets Continuing to gain focus for efficiencies and public valuation Current Production: 4,700 BOEPD TTM EBITDA: 38 MM Expecting to sell in 2Q…
  59. Wells Fargo Presentation – Chaparral Energy, Inc – slide 59
    Question & Answer 60

From the store

Browse maps, data & reports in the Shale Experts store