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Q1 2014 Conference Call – Samson Resources Company

Samson Resources Company · May 19, 2014 · 11 slides

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Slides

  1. Q1 2014 Conference Call – Samson Resources Company – slide 1
    Q1 2014 Conference Call May 19, 2014
  2. Q1 2014 Conference Call – Samson Resources Company – slide 2
    Q114 Financial Results Key Takeaways Q1'14 Q1'13 Difference Unhedged Revenue Higher Year Production (MMcfe/d) (1) over Year Total Production 529 567 (7%) Driven primarily by improved Liquids Mix 30% 26% +15% NYMEX pricing…
  3. Q1 2014 Conference Call – Samson Resources Company – slide 3
    Q114 Capital Expenditures Highlights: (in millions) Q1'14 Q1'13 Difference Disciplined Capital Approach Oil & Gas Capex D&C 125 183 (32%) D&C and LGG significantly down year over year LGG, Facilities & Other (1) 12 18 (32%) Total…
  4. Q1 2014 Conference Call – Samson Resources Company – slide 4
    Current Hedge Position As of May 1, 2014 Natural Gas Swaps & Collars Oil Swaps NGL Swaps Wtd Avg Year Bbls/d(1) Swap Price Year Bbls/d(1) Swap Price Year MMBtu/d(1) Floor 2014 307,300 4.15 2014 16,500 90.63 2014 7,500 35.43…
  5. Q1 2014 Conference Call – Samson Resources Company – slide 5
    RBL Amendment Provides near term flexibility to execute on strategic initiatives to monetize assets through outright sales or through some other vehicle or arrangement Immediately improves financial flexibility by approximately 115…
  6. Q1 2014 Conference Call – Samson Resources Company – slide 6
    Total Company Production Summary Q114 Total Production of 529 MMcfe/d Total Gas Liquids (MMcf/d) (MBbl/d) (MMcfe/d) 650 591 595 600 582 436 425 28.4 28.9 543 409 26.3 26.5 550 529 25.9 385 500 370 450 400 567 573 570…
  7. Q1 2014 Conference Call – Samson Resources Company – slide 7
    Production by Business Unit (MMcfe/d) Sequential Year over Year Q4'13 Q1'14 Change Q1'13 Q1'14 Change West Division Green River 56 56 1% 52 56 9% Powder River 21 22 5% 25 22 (12%) San Juan 89 85 (5%) 99 85 (14%) Williston 24 23…
  8. Q1 2014 Conference Call – Samson Resources Company – slide 8
    First Sales Activity Over Last Twelve Months Q114 and Q214 first sales activity increasing as a result of pad drilling timing 26 26 25 3 2 6 21 10 17 5 7 13 1 3 8 5 3 7 9 2 2 3 8 8 9 6 4 Q2'13 Q3'13 Q4'13 Q1'14…
  9. Q1 2014 Conference Call – Samson Resources Company – slide 9
    2014 Activity Update Rig Area Count(1) Operations Update: Williston 1 Bakken One rig development plan focused on increased spacing concept North Tree Field (Shannon) Four pads (twelve wells) turned to sales year-to-date; Powder…
  10. Q1 2014 Conference Call – Samson Resources Company – slide 10
    2014 Capital Outlook Mid-Con and Powder River driving D&C capital plan reduction Current % ( MM) 2014 Base Plan 2014 Forecast Difference Difference East Texas 121 112 (9) (8%) Mid-Con 214 159 (54) (25%) Green River 65 67 1 2%…
  11. Q1 2014 Conference Call – Samson Resources Company – slide 11
    Q1 2014 Adjusted EBITDA Reconciliation Three Months Twelve Months Ended Ended March 31, 2014 March 31, 2014 (dollars in thousands) Net Loss (1,022) (1,048,167) Interest expense, net 20,476 20,476 Benefit for income taxes (449)…

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