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February 2014 Corporate Presentation – Sanchez Energy Corp

Sanchez Energy Corp · Feb 19, 2014 · 33 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. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 1
    Corporate Presentation February 2014
  2. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 2
    Sanchez Energy Overview Market Cap (1) 1,625 MM Enterprise Value 2,385 MM Eagle Ford Shale Net Acreage: 120,000 acres 1P Reserves: 59 MMBoe Production: 19,000+ Boe/d Rapidly Growing Production grew 726% YOY Oil Weighted Reserves…
  3. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 3
    Strong Growth in Production and Proved Reserves Average Daily Net Production (Boe/d) Proved Reserve Growth (MMBoe) 70 30,000 PD PUD 60 59 23,000 - 25,000 20,000 21,000 - 50 18,000 43 20,000 58% 40 MMBoe 15,000 70% 30…
  4. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 4
    Oil Concentrated Reserves And High Cash Margins Crude oil represents 77% of reserves (88% crude oil and NGLs) Reserves by Product Mix Realized Price Vs. Unhedged Cash Margins (/Boe) (1) (2) 86.96 Taxes 5.11 LOE 10.18 Cash G&A…
  5. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 5
    Capital Expenditures Focused On Eagle Ford 2014 Operating Capital Plan (MM) Gross % of % of Full Year Net Wells Net Wells Operating D&C Project Area Rig Count Spud Completed Capex Capital Capital Marquis 3.0 35 32 300 - 315 46% 48%…
  6. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 6
    Full Year 2014 and 1Q14 Guidance Full Year 2014 Guidance Metrics Range Production Guidance (Boe/d) Full Year 2014 Average 21,000 - 23,000 Full Year 2014 Operating Cost & Expense Guidance (/Boe) Oil & Natural Gas Production Expenses…
  7. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 7
    Eagle Ford Shale 8 2013 Sanchez Energy Corporation
  8. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 8
    The Eagle Ford Shale Core Focus Area SN Eagle Ford Position Summary Net Acres 120,000 Current Production (Boe/d) 19,000+ Gross Drilling Rigs 6 Gross Producing Wells 187 9 2013 Sanchez Energy Corporation
  9. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 9
    Wycross Overview Acreage & Inventory Wycross Acreage Total Net Acres 3,600 Average Working Interest 60% Wycross Average Net Revenue Interest 45% 30 Day IPs From Planned Well Spacing (Acres) 40 13 Wells (Boe/d) Net Identified…
  10. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 10
    Marquis Overview Acreage & Inventory Marquis Area Acreage Total Net Acres 69,000 Marquis (Prost) Average Working Interest 100% 30 Day IPs From Average Net Revenue Interest 75% 24 Wells (Boe/d) Planned Well Spacing (Acres) 60 Net…
  11. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 11
    Palmetto Overview Acreage & Inventory Palmetto Area Acreage Total Net Acres 9,500 Average Working Interest 50% Palmetto 30 Day IPs From Average Net Revenue Interest 37% 51 Wells (Boe/d) Planned Well Spacing (Acres) 40 Net…
  12. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 12
    Cotulla Overview Acreage & Inventory Cotulla Area Acreage Total Net Acres 38,500 Average Working Interest 90% Alexander Ranch 30 Day IPs From Average Net Revenue Interest 66% 34 Wells (Boe/d) Planned Well Spacing (Acres) 40 Net…
  13. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 13
    Tuscaloosa Marine Shale 14 2013 Sanchez Energy Corporation
  14. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 14
    Tuscaloosa Marine Shale TMS Transaction Eagle Ford to TMS Trend Sanchez Energy acquired 40,000 net acres in the core of the TMS and is in a 50/50 joint venture and AMI with Sanchez Resources, the JV that currently holds 115,000…
  15. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 15
    TMS Acreage Position and Activity 2014 Capital Plan SN anticipates spudding up to 4 gross (2 net) operated wells and participating in 10 - 15 gross non-operated wells with working interests ranging from 1% - 25% First SN operated well…
  16. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 16
    Operations and Financial Overview 17 2013 Sanchez Energy Corporation
  17. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 17
    Operational Focus on Cost Efficiencies Pad Drilling Efficiencies Cash Operating Cost (per Boe) We have experienced cost reductions with the move to pad drilling across all of our assets Cost reductions of 10% compared to single…
  18. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 18
    Drilling Efficiencies Cotulla (Alexander Ranch) Marquis (Prost) Alexander Ranch wells have seen a decrease of Prost wells have seen a decrease of 6 days (19%) 6 days (23%) from spud to rig release over the from spud to rig release over…
  19. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 19
    Well Performance Improvement Early production results from the most recent 7 wells drilled on Alexander Ranch are exceeding our expectations and outperforming the type curve 40,000 35,000 30,000 Gross Cumulative Oil (Bbl)…
  20. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 20
    Downspace Testing Across Portfolio Net PUD Reserve Current Locations Report Number of Development Booked Spacing 40 Acre Plan Spacing Utilizing 3D Seismic Area (12/31/13) (Acres) Test Wells (Acres) Microseismic Coverage Palmetto…
  21. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 21
    Top Quartile EBITDA Margins Oil Driven Production 76% of 3Q13 production was crude oil (86% including NGLs) Premium Pricing 93% of oil is sold on LLS pricing Low Transportation Costs - 50% of oil sold into pipelines; multiple sales…
  22. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 22
    Ample Liquidity After Recent Financings Pro Forma 3Q13 Capitalization Table & Liquidity (MM) Current pro forma liquidity of As of Pro Forma (1) 9/30/2013 Adjustments 9/30/2013 570 million after closing the Cash and Equivalents 490…
  23. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 23
    Summary Investment Considerations Rapidly Growing Base Of Oil Production And Proved Reserves 120,000 Net Acres In The Eagle Ford With 1,800+ Net Identified Locations Eagle Ford Shale: Successful 40 Acres Pilots Have Expanded High…
  24. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 24
    Appendix 25 2013 Sanchez Energy Corporation
  25. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 25
    Capitalization Summary Revolving Credit Facility (due 2018) 300 MM Borrowing base with interest rate of LIBOR + 1.50% - 2.50% 0 MM drawn at end of 4Q13 Consortium of 10 banks Restrictive covenant: Net Debt < 4.0x TTM EBITDA 600 MM…
  26. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 26
    Hedge Summary & Philosophy We maintain an active hedging program to help support capital spending, protect cash flow, and ensure strong financial coverage metrics Currently have 3.5 million barrels hedged for 2014 at an average…
  27. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 27
    NonGAAP Reconciliation and Measures Pro Forma Reconciliation of Net Income (Loss) To Adjusted EBITDA (M) 3 Months Ended 3Q13 Net Income (Loss) 3,880 Plus: Interest Expense 9,460 Depreciation, Depletion, Amortization, And…
  28. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 28
    Project Area Type Curves 29 2013 Sanchez Energy Corporation
  29. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 29
    Wycross Area Type Curve & Economics Wycross Area Type Curves and Well Economics 1,200 550 MBoe EUR 8.0 MM Capex Oil Price ( / Bbl) 80.00 90.00 100.00 NPV-10 (MM) 5.2 7.1 9.1 1,000 IRR 46% 66% 90% Average Monthly Production…
  30. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 30
    Marquis Area Type Curve & Economics Marquis Area Type Curves and Well Economics 1,200 550 MBoe EUR 9.0 MM Capex Oil Price ( / Bbl) 80.00 90.00 100.00 NPV-10 (MM) 4.2 6.2 8.2 1,000 IRR 33% 48% 65% Average Monthly Production…
  31. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 31
    Palmetto Area Type Curve & Economics Palmetto Area Type Curves and Well Economics 1,500 750 MBoe EUR 8.0 MM Capex Oil Price ( / Bbl) 80.00 90.00 100.00 NPV-10 (MM) 9.6 12.2 14.8 1,250 IRR 103% 142% 188% Average Monthly Production…
  32. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 32
    Cotulla Area Type Curve & Economics Cotulla Alexander Ranch Area Type Curves and Well Economics 900 500 MBoe EUR 7.0 MM Capex Oil Price ( / Bbl) 80.00 90.00 100.00 NPV-10 (MM) 2.6 4.1 5.5 750 IRR 27% 39% 53% Average Monthly…
  33. February 2014 Corporate Presentation – Sanchez Energy Corp – slide 33
    TMS Area Type Curve & Economics TMS Area Single Well Economics TMS Area Development Well Economics 800 MBoe EUR 15.0 MM Capex 800 MBoe EUR 10.0 MM Capex Oil Price ( / Bbl) 80.00 90.00 100.00 Oil Price ( / Bbl) 80.00 90.00 100.00…

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