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UBS Global Oil and Gas Conference – Energen Corp.

Energen Corp. · May 22, 2014 · 24 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. UBS Global Oil and Gas Conference – Energen Corp. – slide 1
    Wolfcamp Cline Wolfberry 3rd Bone Spring Exploring & Developing the Midland and Delaware Basins UBS Global Oil & Gas Conference May 2021, 2014
  2. UBS Global Oil and Gas Conference – Energen Corp. – slide 2
    ENERGEN: A PURE OIL & GAS E&P COMPANY Energen agreestosellAlagasco toTheLacledeGroupfor1.6 billionincashanddebtassumption Aftertaxcashproceedsestimatedtobe1.1B TransactionclarifiesEnergens corporatestructureaspureE&P company…
  3. UBS Global Oil and Gas Conference – Energen Corp. – slide 3
    ENERGEN INVESTMENT HIGHLIGHTS Domestic asset base with Permian Basin focus 2.4 billion BOE of 3P and Contingent Resources potential in Wolfcamp and Cline shales in Permian Basin Substantial drilling potential in Midland AND Delaware…
  4. UBS Global Oil and Gas Conference – Energen Corp. – slide 4
    ENERGEN PROFILE NYSE:EGN SharesOutstanding(02.14.14) 72.7 MM 3P Reserves/ Contingent Resources MarketCap(05.15.14) 6.1 B at YE2013 YE2014eDebt 1.1 B ProFormaEnterpriseValue 7.2 B PV10Pretax(12.31.13) 4.8 B PV10Aftertax(12.31.13) 4.0 B CO…
  5. UBS Global Oil and Gas Conference – Energen Corp. – slide 5
    DOUBLE-DIGIT OIL/NGL PRODUCTION GROWTH (MMBOE) (MMBOE) 10.0 9.6 2011 2012 2013 2014eMidpoint 9.1 25.4 8.3 23.3 7.7* 3.9 21.2 3.2 2.6 17.5 5.6 5.1 5.0 4.8 15.6 2.2 4.7 14.8 11.8 4.4 1.9 10.4 1.8 8.7 3.8 3.5 6.3 2.9 4.7…
  6. UBS Global Oil and Gas Conference – Energen Corp. – slide 6
    3P/CONTINGENT RESOURCES = 3.3 BILLION BOE ProvedReservesbyProduct 3PReserves/ContingentResourcesbyArea (MMBOE) 343 346 348 303 54 56 63 18% 258 41 4% 44% 30 130 103 155 165 78 34% 160 150 159 135 120 Delaware 2009 2010…
  7. UBS Global Oil and Gas Conference – Energen Corp. – slide 7
    2014 CAPITAL, DRILLING/DEVELOPMENT PLANS CapitalInvestment: 1.3B MidlandBasin MidlandBasin: 840MM Wolfcamp/Cline Wolfberry Facilities/Other DelawareBasin: 380MM 650MM 120MM 70MM 76netwells 48netwells CentralBasin: 42MM 6rigs 2rigs…
  8. UBS Global Oil and Gas Conference – Energen Corp. – slide 8
    2014 GUIDANCE (rev. 4.30.14) E&PAfterTaxCashFlows Exploration&Production (MM) 848 Assumed pricesunhedgedvolumesforROY: 878 4.50gas95oil92NGL 795 CY14Est.E&Pexpenses/BOE*: 699 630 LOE: 11.35 11.80 622 Prod.Taxes 3.00 3.20 DD&A:…
  9. UBS Global Oil and Gas Conference – Energen Corp. – slide 9
    PRODUCTION OUTLOOK 2014ProductionbyQuarter PDPDeclineRatesOverTime (MMBOE) (basedonYE13PDPreserves) 6.9 6.5 5Year 10Year 20Year 6.0 6.0 (8.0) 2.0 (9.3) (8.7) 2.1 (9.2) 2.1 2.1 (10.6) (10.7) (11.8) (13.4) 4.9 4.4 3.9…
  10. UBS Global Oil and Gas Conference – Energen Corp. – slide 10
    HEDGES MINIMIZE PRICE RISK 77%of2014eROYproductionhedged ROY2014SensitivitiestoPrices CY14ecashcost(continuingoperations):20.00/barrel CY14enetincomebreakeven(continuingops): OIL 41.00/barrel 870,000forevery1changefrom95/barrel…
  11. UBS Global Oil and Gas Conference – Energen Corp. – slide 11
    Legacy Assets Eastern Major Acquisitions, 200912 Shelf Permian NEW MEXICO Lea Yoakum Cline Play TEXAS Northwest Shelf Midland Basin Overview Eddy Wolfberry Play Borden Gaines Totalnetacres:300,000 Dawson Delaware…
  12. UBS Global Oil and Gas Conference – Energen Corp. – slide 12
    Scurry MIDLAND BASIN Wolfcamp Play: Blue Outline Gaines Borden Dawson WOLFCAMP Howard Mitchell Martin 65,500netacres Andrews 1,649potential locationsunrisked Cline Play: Red Outline 2013exploratoryprogram:…
  13. UBS Global Oil and Gas Conference – Energen Corp. – slide 13
    Dawson Borden Howard JonesHolton101H(ABench) MIDLAND BASIN Martin Peak24hourIP(3stream): 1,171boepd (72%oil) Peak30dayAvg (3stream): 843boepd (75%oil) CompletedLat.length: Mitchell 6,675 WOLFCAMP Llano88A101H(ABench)…
  14. UBS Global Oil and Gas Conference – Energen Corp. – slide 14
    MIDLAND BASIN WOLFCAMP, CLINE POTENTIAL 2,475PotentialLocations* Potential Wells* 4,400 6,700 7,500 Net Acres 7,700 Wolfcamp A 345 159 181 65,500 Wolfcamp B 8,050 332 159 177 65,300 8,600 Wolfcamp C 100 64 132 31,000…
  15. UBS Global Oil and Gas Conference – Energen Corp. – slide 15
    New Mexico 3rd Bone Spring Area Red Outline DELAWARE BASIN Texas Loving Winkler WOLFCAMP Winchester 57-10 1H 106,000netacres University 28-21 1H 3,115potentiallocationsunrisked Langley 2-36 1H Benton 3-12 1H…
  16. UBS Global Oil and Gas Conference – Energen Corp. – slide 16
    DELAWARE BASIN WOLFCAMP RESULTS, 2Q14 Winkler Loving Langley2361H(BBench) Winchester 57-10 1H Peak24hourIP:2,009boepd (51%oil) Peak20dayAvg:1,813boepd (48%oil) University 28-21 1H Completedlat.length:4,237 Benton 3-12 1H Reeves…
  17. UBS Global Oil and Gas Conference – Energen Corp. – slide 17
    DELAWARE WOLFCAMP POTENTIAL TopofDelawareMtn.Group 3,115Potential 7,550 Locations* 8,450 Potential Net 9,100 Avalon Wells* Acres 9,600 10,600 1,270 106,000 1,165 102,600 11,900 Wolfcamp A 680 56,200 Wolfcamp B Wolfcamp C…
  18. UBS Global Oil and Gas Conference – Energen Corp. – slide 18
    SAN JUAN BASIN OIL POTENTIAL NiobraraShale DryGasPhase HBP Oilphase Colorado New Mexico 72,900netundevelopedacres Wetgasphase 8,550netundevelopedacres WetGasPhase Farmington Gasphase 58,300netundevelopedacres Encana…
  19. UBS Global Oil and Gas Conference – Energen Corp. – slide 19
    REASONS TO INVEST IN EGN PureplayE&Pcompany PermianBasinfocus Substantialunrisked drillinginventoryin Wolfcamp/ClineshaleinMidlandand Delawarebasins NiobraraoilpotentialinSanJuanBasin Additionalpotentialinotherhorizontalplays…
  20. UBS Global Oil and Gas Conference – Energen Corp. – slide 20
    ATCF RECONCILIATION TO GAAP ENERGEN YearsEnded12/31 ( in millions) 2010 2011 2012 2013 2014e Net income (GAAP)* 291 260 254 205 157 187 DD&A 248 284 441 558 541 541 Deferred income taxes, net 134 129 124 84 101 101 Exploratory…
  21. UBS Global Oil and Gas Conference – Energen Corp. – slide 21
    MIDLAND BASIN WOLFCAMP, CLINE POTENTIAL ByCounty Wolfcamp A Wolfcamp B Wolfcamp C Cline Net Net Net Net Locations NetAcres Locations NetAcres Locations NetAcres Locations NetAcres Glasscock 242 23,700 237 25,000 238 24,700 283 30,000…
  22. UBS Global Oil and Gas Conference – Energen Corp. – slide 22
    DELAWARE WOLFCAMP POTENTIAL ByCounty Wolfcamp A Wolfcamp B Wolfcamp C Net NetAcres Net NetAcres Net NetAcres Locations Locations Locations Loving 138 11,400 143 11,400 136 10,800 Ward 321 26,700 284 26,000 56 4,900 Winkler 264…
  23. UBS Global Oil and Gas Conference – Energen Corp. – slide 23
    DELAWARE BASIN WOLFCAMP RESULTS, 2013 PROGRAM Peak24HourIP Peak30dayAverage Completed Frac Well County Zone Lateral Stages Oil NGL Gas Oil NGL Gas Length Boepd Boepd (Bopd) (Bpd) (Mcfd) (Bopd) (Bpd) (Mcfd) University28211H…
  24. UBS Global Oil and Gas Conference – Energen Corp. – slide 24
    FOR MORE INFORMATION JulieS.Ryland VicePresident InvestorRelations 2053268421 jrylandenergen.com www.energen.com 24

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