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Credit Suisse Energy Summit – Halcon Resources Corp

Halcon Resources Corp · Feb 9, 2012 · 29 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. Credit Suisse Energy Summit – Halcon Resources Corp – slide 1
    Credit Suisse Energy Summit February 9, 2012 NASDAQ: HK
  2. Credit Suisse Energy Summit – Halcon Resources Corp – slide 2
    Halcn Resources Corporation Corporate headquarters: Houston, TX Mid-continent division office in Tulsa, OK plus various field offices Exchange: NASDAQ Ticker: HK Experienced management team with significant investment in the…
  3. Credit Suisse Energy Summit – Halcon Resources Corp – slide 3
    Halcn/RAM Transaction Summary Why RAM Energy Resources Solid p platform Concentrated ownership Oil levered Simple balance sheet Stock Listing Attractive valuation Modifications M difi ti New Senior Ticker change to HK…
  4. Credit Suisse Energy Summit – Halcon Resources Corp – slide 4
    Liquidity and Capitalization Improved Capitalization Increased Liquidity to Fund Growth (000s) 9.30.11 Adj. 9.30.11 PF Long-Term Debt Revolving Credit Facility (1) 125,000 (125,000) - 552,631 Term Loan 75,000 (75,000) - Installment…
  5. Credit Suisse Energy Summit – Halcon Resources Corp – slide 5
    Existing Property Overview Total Proved Reserves: 24.4 MMBoe Mississippian Lime: Osage Concession % Developed: 62% 100% Owned Interest Divestiture Candidates Total Avg. Net Daily Production: 4,132 Boe 53,120 Gross/Net Acres 2011 Gross…
  6. Credit Suisse Energy Summit – Halcon Resources Corp – slide 6
    Reserve Base Levered to Oil/Liquids Reserve Mix (1) Production Mix (2) 10% 12% 37% 54% 29% 59% Oil Natural Gas NGLs Oil Natural Gas NGLs Oil and liquids account for 64% of proved reserves and 71% of production (1) Proved…
  7. Credit Suisse Energy Summit – Halcon Resources Corp – slide 7
    Divestiture Candidates YTD 9.30.11 Proved Reserves (1) Average Net Daily Oil Gas NGL Equiv. % Total PV10 (1) % Total Production Boe MBbls MMcf MBbls Mboe Reserves (MM) PV10 South Texas 910 424 27,429 1,563 6,559 27% 57.4 16%…
  8. Credit Suisse Energy Summit – Halcon Resources Corp – slide 8
    Existing Assets: Electra/Burkburnett Field Location: Wichita and Wilbarger Counties Operator: Halcn OK Description: Conventional Oil (waterflood) Reservoir/Depth: Cisco/800-2,400 Wilbarger Wichita Acreage: 14,335 Gross (14,276…
  9. Credit Suisse Energy Summit – Halcon Resources Corp – slide 9
    Existing Assets: Fitts-Allen Fields Location: Pontotoc and Seminole Counties Operator: Halcn Seminole Description: Conventional Oil (waterflood) OK Pontotoc Reservoir/Depth: McAlester/1,600; Hunton/3,700; Viola/4,300…
  10. Credit Suisse Energy Summit – Halcon Resources Corp – slide 10
    Halcn Resources Strategy Follow a proven model Concentrate efforts in emerging liquids-prone plays in the U.S. M i t i operational Maintain ti l control t l Exploit advances in technology Aggressive portfolio management Focus on…
  11. Credit Suisse Energy Summit – Halcon Resources Corp – slide 11
    Whats the Plan 3 Wildcat Oil Plays Utica/Point Pleasant Mississippian Lime Electra/Burkburnett Fitts-Allen Wilcox Woodbine/Eagle Ford Louisiana S th TTexas South Existing Assets Divestiture Candidates…
  12. Credit Suisse Energy Summit – Halcon Resources Corp – slide 12
    Utica/Point Pleasant Overview Focus volatile oil and liquids-rich liquids rich window NY Utica/Point Pleasant vs. Eagle Ford Similar gross thickness PA Slightly less porosity OH Utica/Point Pleasant Lower water saturation…
  13. Credit Suisse Energy Summit – Halcon Resources Corp – slide 13
    Utica/Point Pleasant Reservoir Characteristics UTICA UTICA 8400 Net Pay 131 ft Effective Porosity 2.85% 2 85% 8450 Water Saturation 25.8% Gas Filled Porosity 2.1 % 8500 Permeability 287 Nd nt Pleas POINT PLEASANT 8550…
  14. Credit Suisse Energy Summit – Halcon Resources Corp – slide 14
    Utica/Point Pleasant Single Well Type Curve Play: Utica/Point Pleasant Estimated Avg. Well Cost: 6.5-7.5 MM Target Acreage: 150,000-250,000 acres Spud-to-Production: 60-90 days Rig Count Estimate: 2H12: 2 Wells Drilled: 2H12:…
  15. Credit Suisse Energy Summit – Halcon Resources Corp – slide 15
    Mississippian Lime Overview Initially developed using vertical wells C b Carbonate t reservoir i (hi (high h permeability) bilit ) Predominately oil/liquids production KS Shallow drilling depths (4,000-6,000) 200-500 gross…
  16. Credit Suisse Energy Summit – Halcon Resources Corp – slide 16
    Mississippian Lime Log Section Chat High porosity (20-30%) High permeability Associated with karsting High fluid volumes Dense limestone High porosity tripolitic chert lenses embedded within the low porosity/permeability…
  17. Credit Suisse Energy Summit – Halcon Resources Corp – slide 17
    Mississippian Lime Single Well Type Curve Play: Mississippian Lime Estimated Avg. Well Cost: 2.5-3.5 MM Target Acreage: 50,000-100,000 acres Spud-to-Production: 60-90 days Rig Count Estimate: 2Q12: 1 2H12: 2 Wells Drilled:…
  18. Credit Suisse Energy Summit – Halcon Resources Corp – slide 18
    Woodbine/Eagle Ford Overview Organic rich, laminated sand section directly above the Buda Upper Cretaceous section 40% silica and clastics = natural fractures Geologically g y equivalent q to the Lower Eagle Ford in South Texas…
  19. Credit Suisse Energy Summit – Halcon Resources Corp – slide 19
    Woodbine/Eagle Ford Log Section Depositional deltaic system Multiple p high g q qualityy sand lenses 5,500-6,500 depth Liquids-rich Supported by thick Eagle Ford source rock GLOSSARY ASTN Austin Chalk Regional studies…
  20. Credit Suisse Energy Summit – Halcon Resources Corp – slide 20
    Woodbine/Eagle Ford Single Well Type Curve Play: Woodbine/Eagle Ford Estimated Avg. Well Cost: 5.5-6.5MM Target Acreage: 50 000-75 50,000 75,000 000 acres Spud-to-Production: 60-90 days Rig Count Estimate: 2Q12: 1 2H12: 1…
  21. Credit Suisse Energy Summit – Halcon Resources Corp – slide 21
    Wilcox Overview Oil-prone reservoir with significant associated i t d gas Historical production rate limits and commingling restrictions removed LA f from LLouisiana ii regulatory l t requirements Wilcox Low permeability…
  22. Credit Suisse Energy Summit – Halcon Resources Corp – slide 22
    Wilcox Log Section Upper Wilcox Eocene aged tight sandstones Middle and lower Wilcox targets 11,000-15,000 Middle Wilcox Structurally controlled production Vertical V ti l wellsll Multi-stage fracs L Lower Wil Wilcox…
  23. Credit Suisse Energy Summit – Halcon Resources Corp – slide 23
    Wilcox Single Well Type Curve Play: Wilcox Estimated Avg. Well Cost: 7.5-8.5MM Target Acreage: 50,000-75,000 acres Spud-to-Production: 60-90 days Rig Count Estimate: 2H12: 1 2H12 Wells Drilled: 2H12: 3-5 Oil: EUR…
  24. Credit Suisse Energy Summit – Halcon Resources Corp – slide 24
    2012 Capital Program Oil and liquids focused Significant land and 3-D seismic acquisition program underway Drilling expected to ramp up in 2H12 Infrastructure planning underway 25 NASDAQ: HK
  25. Credit Suisse Energy Summit – Halcon Resources Corp – slide 25
    Creating Value Establish Well-Capitalized Platform Grow Reserves and Production Target liquids rich condensate/oil prone areas Significant operated drilling program Minimize Operating Costs/Maximize Price Realizations Divest…
  26. Credit Suisse Energy Summit – Halcon Resources Corp – slide 26
    Appendix NASDAQ: HK
  27. Credit Suisse Energy Summit – Halcon Resources Corp – slide 27
    Production and Reserve Mix YTD 9.30.11 Proved Reserves (1) Average Net Daily Oil Gas NGL Equiv. Equiv % Total Production Boe MBbls MMcf MBbls Mboe Reserves Texas Electra/Burkburnett 1,331 6,224 67 362 6,597 27% South Texas 910…
  28. Credit Suisse Energy Summit – Halcon Resources Corp – slide 28
    Derivative Summary OIL NATURAL GAS Floors Ceilings Put Options Sold Floors Ceilings Bare Floors Year Per Day Price Per Day Price Per Day Price Year Per Day Price Per Day Price Per Day Price Q4'11 2,150 80.00 2,150 105.00 - - Q4'11…
  29. Credit Suisse Energy Summit – Halcon Resources Corp – slide 29
    Halcn Resources Board of Directors Tucker S. Bridwell James W. Christmas Thomas R R. Fuller James L. Irish III E. Murphy Markham IV David d B. Miller ll Daniel A. Rioux Stephen P. Smiley Mark A. Welsh IV Floyd C. Wilson…

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