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RBC INVESTOR PRESENTATION – Chaparral Energy, Inc

Chaparral Energy, Inc · Jun 18, 2012 · 33 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. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 1
    RBC Investor Presentation June, June 2012
  2. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 2
    Company Representatives Mark Fischer Chief Executive Officer & President Earl Reynolds Chi f Operating Chief O ti Officer Offi & Executive Vice President Joe Evans Chief Financial Officer & Executive Vice…
  3. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 3
    Chaparral Overview Founded in 1988, Based in Oklahoma City Core areas Mid-Continent (Oklahoma) and Permian Basin (W. Texas) Oil-weighted producer (64% oil; 36% gas); R/P ratio 18 years Third largest oil producer in Oklahoma Stable…
  4. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 4
    Operating Areas* As of December 31, 2011 (SEC) Core Area Company Total Growth Area December 2011 proved reserves 156.3 MMBoe Acreage 2011 average daily production 23.7 MBoe/d Acreage (gross / net): 1,178,489 / 590,324 Fi ld…
  5. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 5
    Strong Record of Reserve and Production Growth Chaparrals reserve replacement ratio averaged 422% per year since 2003 Year-End SEC Reserves (MMBoe) (1) Annual Production (MMBoe) 2003 2011 CAGR = 15% 2003 2011 CAGR = 16% 8.8-9.0…
  6. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 6
    Financial Position to Execute Strategy Strong Financial Position Current Maturity Profile (mm) No senior note maturities before 2020 400 400 1 Hedge g positions p in place p to secure cash flow 325 300 400 300 in near term…
  7. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 7
    Capital Budget (mm) Key Drilling Areas *99% of Capital Program is Oil Focused Northern OK Mississippi 42 Horizontal Anadarko Cleveland Sand 27 2012 2012 Anadarko Granite Wash 21 Component 2008 2009 2010 2011 Budget % Marmaton 15…
  8. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 8
    Resource Potential 9
  9. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 9
    Substantial Resource Potential for both Near-Term and Long-Term Growth Near-Term Conventional Drilling (ROR 50% - 75%) Anadarko Granite Wash Anadarko Cleveland Sand Unconventional Resource Play Drilling (ROR 35% - 75%) Northern…
  10. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 10
    Well Positioned for Near-Term and Long-Term Growth NOMP 150 Million Barrels Key near-term growth driver Shallow oil target Attractive F&D costs Extensive history of vertical drilling EOR 200 Million Barrels Long-term growth…
  11. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 11
    NOMP: A Key Near-Term Focus Area 280,000 Net Acres Wildhorse Concession gives Chaparral exclusive rights to 138,000 acres Drilled 18 wells to date 17 wells planned in 2012 Play Economics: IP rates: 200 500 Boe/d EURs: 200 400…
  12. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 12
    Northern Oklahoma Mississippi Play Chaparral Core Area Chaparral Emerging E e g g Area ea KS OK Chaparral Acreage as of 4/9/12 13
  13. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 13
    NOMP: Recent Results 2012 Capital - 42mm NOMP Core (113,000 Net Acres) Significant industry activity in the play Drilled 14 wells to date; 4 currently drilling 5-10 additional wells in 2012 and 1 SWD Average IP 590 Boepd 46% Oil…
  14. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 14
    Panhandle Marmaton Units average 30 day IP + 238 Boe/d BEAVER Units average g reserves 130 MBoe (76% oil, 14% NGL, 10% gas) Units average CWC: 2 0mm 2.0mm Johnston 1H-24 IP +300 Boepd Average depth to Marmaton 6600…
  15. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 15
    A Growing Mid-Continent Chaparral: CO2 EOR Company 16
  16. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 16
    Long Life EOR Assets in Four Key Growth Areas Burbank Panhandle Area 200+ MMBoe Potential Reserves Area Low Geologic Risk Attractive Economics ROR 25% to 40% Central ROI 2.5:1 to 3.5:1 Oklahoma Area Capital Requirements -…
  17. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 17
    Currently Owned CO2 Development Potential and Infrastructure Coffeyville Fertilizer Plant Arkalon Ethanol Plant Koch Fertilizer Plant Agrium Fertilizer Plant Total OOIP 3,735 MMBo Existing CELLC CO2 Pipelines Existing…
  18. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 18
    EOR 2012 Capital Budget(1) Budget by Category (mm) 2011 2012 Actual Budget 2012 Field Projects (mm) Infrastructure / Pipelines 14 90 Panhandle Area Drilling 17 13 Camrick Area 16.4 Enhancements / CO2 52 24 Farnsworth Unit 25.2 Purchases…
  19. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 19
    Processing Rate: The Key to Improved Rate of Return Hovey Morrow Unit (HMU) HMU Model: Processing Rate v. Reserve Recovery 1-29 10-2 11-3 1-A EPMG WSW HAAR 25% hcpv Inj./Yr (BEATY 11-6-G WSW 1 2-B EPMG HAAR HAAR WSW…
  20. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 20
    North Burbank CO2 Development 21
  21. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 21
    Burbank Area Potential CO2 Projects Burbank Area: Net Potential: 100 MMBoe, 51% of total Total OOIP 1,163 MMBo Primary Production 239 MMBo Secondary Recovery 211 MMBo Tertiary Potential 119 MMBo Net Tertiary Potential 100…
  22. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 22
    Burbank in Perspective Primary Development Secondary Development Tertiary Development BOPD Business Plan 110 Years 23
  23. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 23
    Other Recently Installed CO2 Injection j Projects j 24
  24. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 24
    EOR: Recent Uplift from Operations +250 BOPD +200 BOPD +150 BOPD +200 BOPD 25
  25. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 25
    EOR: Strong Growth Currently Active Projects 4-year CAGR 24% 26
  26. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 26
    Other Developing Drilling Plays
  27. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 27
    Approximately 750 MMBoe Potential 800 107 749 Near-term + Long-term 700 136 strategy yields significant 600 value increase 200 70% Oil 500 400 Near-term focus on NOMP 150 300 De-risk play, unlock value Production growth…
  28. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 28
    Financial Performance, Projections and Credit Statistics 29
  29. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 29
    Financial Summary 2009 2010 2011 1Q 2012 Price Oil & NGL Wellhead (/Bbl) 55.04 74.53 87.52 88.38 Gas Wellhead (/Mcf) 3.51 4.36 4.08 2.39 Production (MMBoe) 7.6 8.1 8.7 2.1 Oil & NGL (MMBbls) 3.9 4.0 5.0 1.3 Gas (Bcf) 22.6 23.7…
  30. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 30
    Financial Metrics per Boe Production (Boe) / Day LOE / Boe 30,000 20 17.04 22,055 23,713 23,278 20,926 14.03 14.61 19,323 15 12.32 13.18 20,000 10 10 000 10,000 5 0 0 2008 2009 2010 2011 Q1, 2012 2008 2009 2010 2011 Q1,…
  31. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 31
    2011 Results and 2012 Guidance Operating Statistics 2012 2011 Results Guidance Capital Expenditures 336mm 330mm Production 8.7 MMBoe 8.8 - 9.0 MMBoe General and Administrative 4.86/Boe 5.00 - 5.50/Boe Lease Operating Expense…
  32. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 32
    Hedge Portfolio % of Total Proved Reserves Hedged (As of May 9, 2012) 100% Oil 3-Way Collars 90% Oil S Swaps 80% Gas Swaps 10.00 Gas Basis Hedges 108.78 70% 96.21 % Gas 73.77 Price Proved 60% 115.28 Jun - Dec 2012 0.23…
  33. RBC INVESTOR PRESENTATION – Chaparral Energy, Inc – slide 33
    Question & Answer 34

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