Skip to main content Investor Presentation – Energy XXI Gulf Coast, Inc | Shale Experts
Loading...
Pm

Investor Presentation – Energy XXI Gulf Coast, Inc

Energy XXI Gulf Coast, Inc · Dec 11, 2014 · 19 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. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 1
    Investor Presentation Capital One Energy Conference December 10-11, 2014 NASDAQ: EXXI AIM: EXXI www.energyxxi.com 12/10/14
  2. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 2
    Company Snapshot Fiscal 2015 Plan Generate free cash flow Debt reduction Target long-term net debt-to- capitalization ratio of 50% Improve capital efficiencies Workovers Current Metrics Recompletes Enterprise Value 4 Billion…
  3. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 3
    Antonio de Pinho, COO Antonio de Pinho COO Andre Broussard Keith Acker SVP SVP Exploitation & Exploration Production Perrin Roller Tom ODonnell SVP SVP Well Operations M&A and JV Granger Anderson Rex Anderson SVP VP Land…
  4. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 4
    Driving to Free Cash Flow Free Cash Flow at 60 WTI Crude Price (MM) 50 0 -50 MM -100 -150 -148 -200 1Q FY15 2Q FY15 3Q FY15 4Q FY15 1Q FY16 2Q FY16 Calendar 2015 80-100 million debt pay down in calendar 2015…
  5. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 5
    No Near-Term Maturities Debt Maturity Schedule* 1,000 900 800 700 510 600 (Feb.) 120 MM 500 400 646MM of Cash 750 and Revolver 650 (Dec.) 300 Availability 526 (as of 9/30/2014) 500 200 400 (Dec.) 250 100 0…
  6. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 6
    Reserves at Forward Strip 6/30/14 SEC Pricing Current Strip Pricing 342.3 MMBOE 2P Reserves 342.3 MMBOE 2P Reserves 11,230 MM PV-101 8,079 MM PV-102 Probable Probable 96.1 MMBOE 96.1 MMBOE PV-10 PD PV-10 PD 3,629 MM1 149.9…
  7. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 7
    Reserves at Forward Strip Reserves at Current Strip Pricing 342.3 MMBOE 2P Reserves 9000 8,079 MM PV-101 2,761 8000 7000 6000 5,318 PV-10 MM 5000 4,235 4000 PUD 2,490 3,844 3000 PDNP 692 2000 1000 PDP…
  8. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 8
    Debt Covenant Test Total Debt EXXI Gulf Coast Bonds 2,660 Revolver Balance Due 748 Removal of non-market Other 39 covenant item implies a Total Leverage Ratio = P&A Letters of Credit 226 3.62x P&A Performance Bonds 171 Total Debt…
  9. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 9
    Monetization of Pipeline Assets Grand Isle Terminal Aerial West Delta Receiving Station Delta Gathering Venice Station Grand Isle Station West Delta Receiving / WD 30J Delta Gathering Stations GI 16BB WD 41A T-Bay GI 22L…
  10. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 10
    Non-Core Divestiture Update Bringing Combined EXXI + M21K GoM Divestiture to market Geographically diverse across GoM Shelf EXXI EXXI Divest M21K Divestiture Highlights Prospective Buyers 16-17 Mboe/d (6-7 Mboe/d EXXI net…
  11. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 11
    EXXI Realized Pricing Historically, EXXI has realized a premium to WTI pricing. Period 4Q 1Q Oct FY2014 FY2015 2014 Average WTI Oil Price* 102.99 97.17 84.34 Price per BBL** Realized Crude Oil Price 104.79 100.91 86.42…
  12. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 12
    Crude Hedging for Price Protection 24,000 Bbl/d (60%) of crude Crude Hedging (Calendar Year) production hedged at 84 40 35 Downside protection while LLS Put Spread allowing upside participation 30 WTI Put 25 WTI Collar…
  13. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 13
    Market-to-Market for Hedges MM Brent WTI LLS Nat Gas Total Dec 2014 4,907,089 8,428,078 9,545,130 661,871 23,542,168 Cal 2015 50,665,000 15,091,474 33,539,360 1,228,256 100,524,090 Cal 2016 5,307,000 5,307,000 Total 55,572,089…
  14. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 14
    LOE Driving Costs Lower Total Savings of 7.6 - 17.6 MM 145 Versus 1st Quarter 142.6 140 2.4 3 125 - 135 135 1 3.6 MM 130 4 125 3.6 120 115 *One-time charges associated with EPL integration 18
  15. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 15
    Year 1 Savings Expected Between 60 - 100 MM Original Expectations MM Current Annualized Savings MM Year 2 Year 1 Year 1 Cumulative LOE (before insurance) 5 20 LOE (before insurance) 30 Insurance 15 15 Insurance 30 G&A 7.5 15 G&A…
  16. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 16
    FY 2015 Focus Areas Generate free cash flow Debt reduction Improve capital efficiencies Workovers Recompletes Reduced downtime Image Asset rationalization goes Liquidity preservation here Lower cost structure Manage hedge…
  17. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 17
    Operating Unit Cost Analysis Period Fiscal Year 2014 1st Quarter FY15 Revenue (MM) 1,231 403.2 MBO/d 30.1 41.8 MBOE/d 45.0 58.6 NGL % (of oil volumes) 8.1% 7.7% Total Realized / BOE 74.88 74.84 Average WTI Oil Price* 101.32…
  18. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 18
    Current Hedge Position* Period Fiscal Quarter Instrument Type Daily Volumes Average Price Index CRUDE OIL 10/2014-12/2014 Q2 2015 Collars 2,000 bbl/day 90.00 floor, 108.38 cap BRENT 10/2014-12/2014 Q2 2015 Put Spreads 3,400 bbl/day…
  19. Investor Presentation – Energy XXI Gulf Coast, Inc – slide 19
    Balance Sheet All figures in 000s except per unit values, and include 6/30/11 6/30/12 6/30/13 6/30/14 Net Debt/Total Proved cash and debt at the parent Cash and cash equivalents 28,407 117,087 -- 145,806 16.00 14.73 12.00 Short-term…

From the store

Browse maps, data & reports in the Shale Experts store