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December 2014 Investor Update – EP Energy Corp

EP Energy Corp · Dec 18, 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. December 2014 Investor Update – EP Energy Corp – slide 1
    Investor Update December 2014
  2. December 2014 Investor Update – EP Energy Corp – slide 2
    EP Energy Oil-focused growth company with four core Net Acres: EAGLE FORD SHALE 91,675 Net Acres: WOLFCAMP SHALE 175,1731 asset areas 3Q 2014 Net Daily Production (MBoe/d): Gross Drilling Locations: 52.2 946 3Q 2014 Net Daily…
  3. December 2014 Investor Update – EP Energy Corp – slide 3
    Its All About Execution Results beat expectations each period reported since IPO (4Q13, 1Q14, 2Q14 and 3Q14) Record oil production (3Q14) Increased 2014 Outlook (May and Aug.) Increased Wolfcamp Type Well EUR (Aug.) Portfolio…
  4. December 2014 Investor Update – 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 53.0 36.3 22.7…
  5. December 2014 Investor Update – EP Energy Corp – slide 5
    Focusing on Continuous Improvement million Gross Well Cost 9.9 8.3 7.4 7.1 Eagle Ford 2011 2012 2013 3Q'14 9.9 7.7 5.6 6.1 Wolfcamp 2011 2012 2013 3Q'14 6.7 5.9 5.4 4.9 Altamont 2011 2012 2013 3Q'14 6
  6. December 2014 Investor Update – EP Energy Corp – slide 6
    Managing Efficient Operations Average LOE (1Q13 3Q14) /Boe 7.99 8.03 7.86 7.52 7.60 6.02 6.15 5.73 5.17 5.23 3.80 Peer A EPE Peer B Peer C Peer D Peer E Peer F Peer G Peer H Peer I Peer J Note: Based on quarterly…
  7. December 2014 Investor Update – EP Energy Corp – slide 7
    Delivering Strong Cash Margins 50 Cash Margin per BOE (2015e at assumed 65/bbl WTI) 45 40 35 30 /Boe 25 20 15 10 5 0 EGN GPOR MHR RRC AR COG ECA ECR RSPP APA TLM NFX WPX…
  8. December 2014 Investor Update – EP Energy Corp – slide 8
    Core Asset Overview Eagle Ford Wolfcamp Altamont Haynesville High-quality concentrated asset portfolio 9
  9. December 2014 Investor Update – EP Energy Corp – slide 9
    Eagle Ford: Franchise Oil Program High-return program continues rapid growth Current activity Oil Production Five rigs and three stimulation crews (MBbls/d) 35.9 33.7 31.6 24 wells completed in 3Q 27.3 Improved performance…
  10. December 2014 Investor Update – EP Energy Corp – slide 10
    Eagle Ford: Improved Production Results IP 30 (BOPD) Continued to realize 800 benefits from completion optimization 700 Increased number of 600 762 stages 500 682 Increased proppant 525 volumes 400 Q1 '14 Q2 '14 Q3 '14…
  11. December 2014 Investor Update – EP Energy Corp – slide 11
    Wolfcamp: Significant Growth in Evolving Program Rapid production growth continues Oil Production (MBbls/d) Current activity 9.4 Four rigs and two stimulation crews 7.9 7.2 26 wells completed in 3Q Improved results in Crockett…
  12. December 2014 Investor Update – EP Energy Corp – slide 12
    Wolfcamp: Improved Results with Experience Recent Crockett Co. B/C Wells (IP 30) Recent wells benefit from completion optimization 44-11 GH: 641 BOPD, 838 Boe/d HH: 259 BOPD, 418 Boe/d Average of recent wells IH: 432 BOPD, 634…
  13. December 2014 Investor Update – EP Energy Corp – slide 13
    Altamont: Continued Growth Increasing performance with repeatable operations Three rigs now running Oil Production (MBbls/d) 14 wells completed in 3Q Continued focus on production optimization 11.7 11.8 Increased sales capacity…
  14. December 2014 Investor Update – EP Energy Corp – slide 14
    Altamont: Executing and Improving Efficiencies IP 30 Progression (Boe/d) 587 543 525 381 2012 2013 Current Type 2014 YTD Curve Average IP 30 rates performing above type curve of 525 Boe/d Improved stimulation design…
  15. December 2014 Investor Update – EP Energy Corp – slide 15
    Haynesville Premier Shale Gas Resource Haynesville: Premier Shale Gas Resource Peak Month Gas (Mcf/d) 37,000 net acres in core of EPE acreage 10,000+ De Soto Parish in NE 7,500 to 9,999 Louisiana 5,000 to 7,499 0 to 4,999…
  16. December 2014 Investor Update – EP Energy Corp – slide 16
    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…
  17. December 2014 Investor Update – EP Energy Corp – slide 17
    Focused Oil & Gas Capital Expenditures Other Facilities, lease & seismic 3% Altamont 9% 14% Eagle Ford Wolfcamp 50% 36% 88% Drilling & Completions 2014 Budget: 2 billion 18
  18. December 2014 Investor Update – EP Energy Corp – slide 18
    Extremely Well Hedged With Strong Price Protection 2015 Oil Hedge Percentage 100% A EPE B 80% C 60% D E F G H I 40% 86% 85% 83% 71% 49% 46% 45% 44% 43% J K L M 20% 36% 18% 2% 0% 0% 0% 87.98 91.19 Average fixed/ 81.20 90.25…
  19. December 2014 Investor Update – EP Energy Corp – slide 19
    Solid Hedge Program Provides Multi-year Price Protection 2014 2015 2016 Fixed Price Hedges1 Oil volumes (MMBbls) 5.0 21.0 16.9 Average floor price (/Bbl) 98.23 91.19 90.89 Oil Pricing Sensitivity: Percent hedged based on midpoint of…
  20. December 2014 Investor Update – EP Energy Corp – slide 20
    Consistent 2014 Outlook Year/Year Growth Rate Oil production (MBbls/d) 54 56 52% Total production (MBoe/d) 96 100 21%2 Capital program ( billion) Total3 2.0 Average drilling rigs Rest of 2014 Eagle Ford 5 Wolfcamp 4…
  21. December 2014 Investor Update – EP Energy Corp – slide 21
    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 88 percent drill-bit focused 2…
  22. December 2014 Investor Update – EP Energy Corp – slide 22
    Appendix 23
  23. December 2014 Investor Update – EP Energy Corp – slide 23
    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…
  24. December 2014 Investor Update – EP Energy Corp – slide 24
    State Reported 24 Hour-IP Test Data Most recently reported 10 wells by program Test Data Well Name Submission Date Oil (BOPD) Nat. Gas (MCFD) Total Equivalent (BOEPD) Eagle Ford (24 hr. type well 611 BOPD, 780 BOEPD) Hi xon-Trout C…

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