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Deutsche Bank Leveraged Finance Conference – EP Energy Corp

EP Energy Corp · Oct 1, 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. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 1
    Deutsche Bank Leveraged Finance Conference Dane Whitehead Executive Vice President and Chief Financial Officer EP Energy Corporation October 1, 2014
  2. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 2
    EP Energy Oil-focused growth EAGLE FORD SHALE WOLFCAMP SHALE company with four core Net Acres: 91,675 Net Acres: 2Q 2014 Net Daily Production (MBoe/d): 175,1731 14.1 2Q 2014 Net Daily Production (MBoe/d): 50.5 asset areas Gross…
  3. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 3
    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…
  4. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 4
    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…
  5. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 5
    Core Asset Overview Eagle Ford Wolfcamp Altamont Haynesville High-quality concentrated asset portfolio 6
  6. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 6
    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…
  7. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 7
    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,…
  8. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 8
    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…
  9. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 9
    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…
  10. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 10
    Wolfcamp: Increasing Take-away Options Cushing, OK Existing Take-away McKee Borger Refineries (nameplate capacity) Mbopd Big Spring 75 Holly Navajo 100 Borger 145 McKee 168 Holly Navajo Colorado Western 128 City Longview…
  11. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 11
    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…
  12. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 12
    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…
  13. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 13
    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…
  14. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 14
    Debt Summary Net Debt 3.3 ( billions) Note 06/30/14 Interest Maturity ( in millions) Rate 4.6 2.3 2.5B RBL 550 Libor + May 2017 2.2 Principal 750M Term Loan 495 Libor + (6/30/09) May 2018 4.4 400M Term Loan 150 Libor 9+ April…
  15. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 15
    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 completions Wolfcamp Eagle Ford…
  16. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 16
    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…
  17. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 17
    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…
  18. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 18
    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,…
  19. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 19
    Deutsche Bank Leveraged Finance Conference Dane Whitehead Executive Vice President and Chief Financial Officer EP Energy Corporation October 1, 2014
  20. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 20
    Appendix 21
  21. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 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…
  22. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 22
    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…
  23. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 23
    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…
  24. Deutsche Bank Leveraged Finance Conference – EP Energy Corp – slide 24
    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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