Barclays CEO Energy-Power Conference Brent Smolik Chairman, President and Chief Executive Officer EP Energy Corporation September 4, 2014
EP Energy (NYSE: EPE) Oil-focused growth company with four core Net Acres: EAGLE FORD SHALE 91,675 Net Acres: WOLFCAMP SHALE 175,1731 asset areas 2Q 2014 Net Daily Production (MBoe/d): Gross Drilling Locations: 50.5 946 2Q…
Its All About Execution Results beat expectations each period reported since IPO (4Q13, 1Q14, 2Q14) Financial and operational metrics Record oil production, well completions (2Q14) Increased 2014 Outlook (May and Aug.) Increased…
And Delivering Efficient Growth Focused execution in all areas delivers; Significant long-term oil volume growth Expanding unit cash margins Continued EBITDAX growth MBbls/d Total Company Oil Production Altamont 51.0 36.3 22.7…
Eagle Ford: Franchise Oil Program Increased performance from high return asset Oil Production (MBbls/d) Five rigs now running 31.6 33.7 Two stimulation crews active 26.1 27.3 34 wells completed in 2Q 20.4 22.2 18.5…
Eagle Ford: Improved Results Across Position Most Recent Wells with Enhanced Completions (IP 30) Completion optimization Hinojosa 22H: 608 BOPD, 694 Boe/d Whitwell A Unit Altito B 23A Unit A23H: 594 BOPD, 679 Boe/d 02H: 668 BOPD,…
Wolfcamp: Execution Drives Significant Growth Significant production growth Fourth rig added in late March Oil Production (MBbls/d) Two stimulation crews running 7.9 23 wells completed in 2Q (ramped throughout) 7.2 Record…
Wolfcamp: Expanding Development 2013 2014 Wells Wells 2014 Wolfcamp A bench wells Region derisked by industry activity and tests 1,550+ horizontal wells in four county area1 270 A and C Bench wells offsetting EPE…
Wolfcamp: Increased Type Curve 23 Results of combined B/C development exceed expectations 1,000 Increased estimated EUR from Wolfcamp B/C Wolfcamp B/C Development Development 900 400 MBoe to 450 MBoe 800 Larger completions…
Wolfcamp: Increasing Take-away Options Cushing, OK McKee Borger Existing Take-away Refineries Mbopd Big Spring 75 Holly Navajo 100 Borger 145 Holly Navajo Colorado McKee 168 City Longview Midland Western 128 Western Crane…
Altamont: Significant Growth Production growth from advantaged position in Uinta Basin Oil Production (MBbls/d) Three rigs now running 11 wells completed 11.7 Record quarterly production in 2Q14 9.8 of 15.7 MBoe/d (11.7 MBbls/d…
Altamont: Executing and Improving Efficiencies IP 30 Progression (Boe/d) 587 543 525 381 2012 2013 Current Type 2014 YTD Three of our all-time best Altamont Curve wells completed in 2Q14 Average IP 30 rates performing…
Financial Execution Strong financial performance from core assets driven by successful execution Record production volumes delivering growing EBITDAX, per unit margins, and returns Solid hedge positions in 20142016 support cash…
Focused Oil & Gas Capital Expenditures 2014 Budget: 2 billion 35-40 well Facilities, lease Other completions & seismic 3% Altamont 9% 14% 125-130 well completions Drilling & 95-105 well Wolfcamp completions 36% Eagle Ford…
Solid Hedge Program 2014 2015 2016 Fixed Price Hedges1 Oil volumes (MMBbls) 9.7 21.0 15.5 Average floor price (/Bbl) 97.77 91.19 90.60 Percent hedged based on updated 2014 guidance 90% +100% 77% Natural Gas volumes (TBtu) 38.4…
Increased 2014 Outlook Updated 5/7/14 Year/Year Updated 8/7/14 Year/Year Growth Rate Growth Rate Oil production (MBbls/d) 52 55 46% 54 56 52% Total production (MBoe/d) 93.5 99.5 19% 96 100 21%2 Capital program ( billion) Drilling and…
Executing Across the Board Programs well positioned for growth Continued production 50+ percent increase in oil volumes now growth1 Improved results from production and completion optimization Directed entirely to Eagle Ford,…
Barclays CEO Energy-Power Conference Brent Smolik Chairman, President and Chief Executive Officer EP Energy Corporation September 4, 2014
Appendix 21
Type Well Economics Eagle Ford Wolfcamp Altamont Haynesville Central North Long Short Vertical Horizontal Holly Non-Holly Lateral Length (ft) 5,600 5,600 7,500 4,500 N/A 3,960 4,500 4,500 Well Spacing 60 acres 60 acres 140 acres 90…
Haynesville Premier Shale Gas Resource Haynesville: Premier Shale Gas Resource Peak Month 37,000 net acres in core of Gas (Mcf/d) De Soto Parish in NE EPE acreage 10,000+ Louisiana 7,500 to 9,999 5,000 to 7,499 Acreage 100% HBP…
Proven Management Team Name Position Industry Yrs. Experience Brent Smolik Chairman, President & CEO 29 Clay Carrell EVP & COO 25 Dane Whitehead EVP & CFO 29 Marguerite SVP, General Counsel 22 Energy Woung-Chapman Joan Gallagher SVP,…
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