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First Quarter 2014 Earnings Review – Endeavour International Corp

Endeavour International Corp · May 7, 2014 · 12 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. First Quarter 2014 Earnings Review – Endeavour International Corp – slide 1
    First Quarter 2014 Earnings Review May 7, 2014
  2. First Quarter 2014 Earnings Review – Endeavour International Corp – slide 2
    2014 First Quarter Operational/Financial Results Physical Production and Sales Volumes Physical production averaged 9,440 boepd compared to 9,385 boepd during Q1 2013 Sales volumes were 11,134 boepd compared to 7,186 boepd during Q1…
  3. First Quarter 2014 Earnings Review – Endeavour International Corp – slide 3
    Sales Volumes and Physical Production (BOE per day) 2014 2013 Q1 Sales = 11,134 Q1 Sales = 7,186 10% 21% 7% 83% 79% US Gas US Oil UK Oil UK Gas Physical production volume for the first quarter averaged 9,440 boepd…
  4. First Quarter 2014 Earnings Review – Endeavour International Corp – slide 4
    U.K. Hedged Oil Position 6,000 120 5,000 100 4,000 80 bbl/d /bbl 3,000 60 2,000 40 1,000 20 - 0 1Q2014 2Q2014 3Q2014 4Q2014 Hedged Production Ave Ceiling Ave Floor The current hedging program involves embedding…
  5. First Quarter 2014 Earnings Review – Endeavour International Corp – slide 5
    Summary Financial Results Three Months Ended March 31, Measure ( in millions, except per share data) 2014 2013 Oil and Gas Revenues 94.2 57.7 Operating Expenses 27.2 17.5 Adjusted cash flow from Operations 67.0 40.2 6
  6. First Quarter 2014 Earnings Review – Endeavour International Corp – slide 6
    Adjusted EBITDA Three Months Ended March 31, Measure ( in millions, except per share data) 2014 2013 Net Income (loss) (44.9) (14.0) Unrealized (gain) loss on derivatives (2.7) (1.6) Net Interest Expense 31.5 21.5 Letter of…
  7. First Quarter 2014 Earnings Review – Endeavour International Corp – slide 7
    Adjusted Net Income (Loss) Three Months Ended March 31, Measure ( in millions, except per share data) 2014 2013 Net Income (loss) (44.9) (14.0) Impairment of U.S. oil and gas properties - 3.5 Unrealized (gain) loss on…
  8. First Quarter 2014 Earnings Review – Endeavour International Corp – slide 8
    Capex Update Three Months Ended March 31, Measure ( in millions) 2014 2013 Direct Oil & Gas Capex U.K. 9.5 32.6 U.S. 0.2 0.4 Total Direct Oil & Gas Capex 9.7 33.0 Acquisitions 1.6 0.8 11.3 33.8 Capitalized Interest 2.6 6.2…
  9. First Quarter 2014 Earnings Review – Endeavour International Corp – slide 9
    2014 First Quarter Financing Activities Replaced the Revolving Credit Facility and two letter of credit reimbursement agreements due in 2014 Extended the maturities from June 2014 to November 2017 Reduced the cost of capital from 13%…
  10. First Quarter 2014 Earnings Review – Endeavour International Corp – slide 10
    2014 Direct Capital Expenditure Budget U.S. Other Colorado Alba U.K. Other 2014 Direct CapEx = 60 million - 80 million U.K. = 40 million - 55 million U.S. = 20 million - 25 million Decommissioning costs for IVRR,…
  11. First Quarter 2014 Earnings Review – Endeavour International Corp – slide 11
    Debt Maturity Schedule 500 400 300 554 mm 200 81 17.5 100 135 125 0 2014 2015 2016 2017 2018 Convertible Notes due 2016 (18.51 per share conversion price) Convertible Bonds due 2016 (16.52 per share…
  12. First Quarter 2014 Earnings Review – Endeavour International Corp – slide 12
    NYSE:END LSE:ENDV www.endeavourcorp.com INVESTOR CONTACTS: Darcey Matthews Director of Investor Relations (713) 307-8711 darcey.matthewsendeavourcorp.com

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