Chaparral Energy J.P. Morgan High Yield & Leveraged Finance Conference February, 2013
Company Representative Mark Fischer Chief Executive Officer & President Earl Reynolds Chief Operating Officer & Executive Vice President Joe Evans Chief Financial Officer & Executive Vice President Patrick Graham…
Chaparral Overview Founded in 1988, Based in Oklahoma City Core areas Mid-Continent (Oklahoma) and Permian Basin (W. Texas) Stable 1P base with large potential upside 771 MMBoe, R/P 16 years Oil focused: Third largest oil producer…
Operating Areas As of December 31, 2012 (SEC) Core Area Company Total Growth Area December 2012 proved reserves 146.1 MMBoe Acreage 2012 average daily production 24.9 MBoe/d Acreage (gross / net): 1,238,747 / 628,564 Field Offices…
Strong Record of Reserve and Production Growth Chaparrals reserve replacement ratio averaged 383% per year since 2003 Year-End SEC Reserves (MMBoe) (1) Annual Production (MMBoe) 2003 2012 CAGR = 12% 2003 2012 CAGR = 15% 9.6-9.8…
2011 to 2012 SEC Reserves Reconciliation Total YTD Proved Volume Volumes in Negative price revisions due to low Reconciliation MMBOE natural gas pricing and divestitures reduced year end reserves by 15.8 Beginning Balance (12/31/2011)…
Current Production - 2012 Production in the 4th quarter increased 4.3% over the previous quarter and increased 15.1% when compared to the 4th Quarter 2011 2012 Production by Quarter 30,000 26,098 27,223 23,278 23,018 25,000…
Financial Position to Execute Strategy Current Maturity Profile (mm) * Strong Financial Position 325 300 400 550 No senior note maturities before 2020 400 300 Hedge positions in place to secure cash flow in near term 25…
Capital Budget (mm) 99% of 2013 Capital Program is Oil Focused Key Drilling Areas Capital Wells Northern OK Mississippi 107 38 Horizontal Component 2010 2011 2012P 2013B 2013% Marmaton 40 11 Drilling 196 172 239 206 50% Anadarko…
Northern Oklahoma Mississippi Play Overview NOMP Asset Map The Northern Oklahoma Mississippi Play (NOMP) is a Emerging key nearterm focus area for Chaparral Chaparral acreage over 280,000 net acres in the NOMP KS Over 151 MMBoe of…
Marmaton Shelf Play Johnston 1H-24 IP +300 Boepd Jay 1H-1098 IP +150 Boepd Lamaster 1H-23 IP +600 Boepd Marmaton Well Economics IP Rates: 150 600 Boe/d EUR: 150 200 Mboe Well Cost: 3.5 4.0 million % Oil 80% IRR: 30% 50%…
A Growing Mid-Continent Chaparral: CO2 EOR Company 15
Chaparral is a Leader in the CO2-EOR Industry Chaparral is the third most active CO2-EOR producer in the U.S. of Active Producer CO2-EOR Projects 31 22 8 7 7 7 6 5 4 4 4 Total 105 Source: April 2012 Oil & Gas…
Long Life EOR Assets in Four Key Growth Areas 74 Fields Burbank Panhandle Area 200+ MMBoe Potential Reserves Area Low Geologic Risk Attractive Economics ROR 25% to 40% Central Oklahoma ROI 2.5:1 to 3.5:1 Area Capital…
Current CO2 Infrastructure/Future EOR Potential Active CO2 fields Arkalon Ethanol Plant CO2 fields in 5 year plan Coffeyville Fertilizer Plant Chaparral Owned Potential CO2 fields CO2 Source Locations Chaparral CO2 Pipelines Third…
EOR 2013 Capital Budget(1) Budget by Category (mm) 2012P 2013B Infrastructure / Pipelines 105 62 2013 Field Projects (mm) Drilling 20 16 Burbank Area Enhancements / CO2 62 52 North Burbank Unit 84 Purchases Panhandle Area Total 187 130…
Monthly Incremental EOR from Active CO2 Projects EOR = 2570 BOPD Net BOPD Avg. +41% CAGR 20
Chaparral Potential EOR Production Growth Net Oil Production 40,000 Additional production from 35,000 non Business Plan projects meeting corporate economic 30,000 hurdles 25,000 Additional CO2 Plan w/ +100 mmcfpd in 2015…
North Burbank CO2 Development 22
Burbank Area Potential CO2 Projects Burbank Area: Net Potential: 100 MMBoe, 51% of total Total OOIP 1,163 MMBbls Primary Production 239 MMBbls Secondary Recovery 211 MMBbls Tertiary Potential 119 MMBbls Net Tertiary Potential…
Burbank in Perspective Primary Development Secondary Development Tertiary Development Bopd CO2 EOR Waterflood +8000 BOPD 110 Years 24
North Burbank Unit Miscibility Pressure Build Ph-I Vicinity Dec 2012 May Average pressure 1650 1405 psia 25
Coffeyville CO2 System Coffeyville CO2 System Asset Map The Coffeyville CO2 System 110 million of total capital expenditures Kansas Oklahoma 23,500 HP compression facility 68.3-mile 8-inch pipeline with potential capacity of…
COFFEYVILLE CO2 PLANT 27
COFFEYVILLE CO2 PLANT 28
COFFEYVILLE CO2 PLANT 29
COFFEYVILLE CO2 PLANT 30
COFFEYVILLE CO2 PLANT 31
COFFEYVILLE CO2 PIPELINE: TRENCHING RIGHT OF WAY Digging the trench in preparation for laying the pipeline 68 miles; Coffeyville, KS to Shidler, OK 32
COFFEYVILLE CO2 PIPELINE: CLEARING RIGHT-OF-WAY Final Efforts: Borings (Pic) Hydro-test 33
Other CO2 Injection Projects 34
Camrick CO2EOR Flood Gross CO2 Purchases, Mcf/d Primary Secondary Development Development Tertiary Development Gross Boe/d +1500 BOPD 35
North Perryton CO2EOR Flood Primary Secondary Development Development Tertiary Gross CO2 Purchases, Mcf/d Development Gross Boe/d +600 BOPD 36
Booker Area CO2EOR Flood Primary 10,000 Development 10,000 Tertiary Development Gross Purchased CO2 Mcf/d 1,000 1,000 Secondary Development Gross Boe/d 100 100 +700 BOPD 10 10 1 1 Jan-80 Jan-90 Jan-00…
Farnsworth Area CO2EOR Flood (West Side Only) 100,000 100,000 Tertiary Secondary Development Primary Development Gross CO2 Purchases,Mcf/d Development 10,000 10,000 Gross Boe/d 1,000 1,000 +2900 BOPD 100…
Potential in Excess of 771 MMBoe 900 771 Near-term + Long-term 800 107 strategy yields significant 700 167 value increase 70% Oil 600 200 500 Near-term focus on NOMP 400 151 De-risk play, unlock value 300 Production growth…
2012 and 2013 Guidance Operating Statistics 2012 2013 Guidance Guidance Capital Expenditures 460 million 410 - 420 million Production 8.8 -9.0 MMBoe 9.6 - 9.8 MMBoe General and Administrative 5.75 6.25/Boe 5.50 - 6.00/Boe Lease…
Hedge Portfolio % of Total Proved Reserves Hedged (as of February 20, 2013) Gas Basis Hedges YR Price % TP 13 0.20 82% 14 0.23 69% Note: Dollars represent average strike price of hedges (includes all derivative…
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