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THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc.

EPL Oil & Gas, Inc. · Feb 18, 2014 · 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. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 1
    OIL GROWTH VALUE ENERCOM THE OIL & SERVICES CONFERENCE TM 12 February 2014
  2. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 2
    Company Overview At a Glance Oil Value Play Long Lived Oil Core Acreage Growth Driven Portfolio Louisiana MP Complex Balanced Growth Strategy WD 29 Field Stock Currently Undervalued South Timbalier Area Market Data SM 239…
  3. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 3
    We Are The Premium Long-Term Play A Targeted Approach Prime Real Estate Focused Acquire & in the Heart of the Exploit Strategy - Basin An Unparalleled Track Record Unmatched Technical Operational Expertise To Exploit…
  4. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 4
    2013 Impressive Annual Growth 76% Oil by Production 63% Annual Oil Production Increase 66% Increase in EBITDAX 45% Increase in Capex 66% of Oil Production Hedged All figures estimated based on the midpoint of Company…
  5. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 5
    2014 Initial Outlook 80% Oil by Production 15% Annual Oil Production Increase 465 Annual EBITDAX (MM) 360 Initial Capex Budget (MM) 67% Oil Production Hedged All figures estimated based on the midpoint of Company…
  6. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 6
    Financial Discipline to Prudently Grow 420 Disciplined Capital Allocation 475 510 Consistent Free Cash Flow 360 Protected Balance Sheet 335 286 Ample Dry Powder 224 223 149 EBITDAX 102 CAPEX 101 57 11 Acquisitions -- --…
  7. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 7
    Not Your Typical GOM Company
  8. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 8
    Acquire & Grow Oil Organically Grow Oil by Acquiring Assets and Executing Successful Organic Programs 2014 Midpt. Guidance PDP (Legacy + Acquisitions) Jan. 2014 Nexen Acquisition Organic Growth Oct. 2012 Sep. 2013 Hilcorp W&T…
  9. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 9
    Grow to Increase Opportunity Set 77.4 MM Organic Growth 9.9 MM 37.1MM Organic Growth 4.7 MM 27.4 MM Acquisition 35.7 MM Organic Growth 1.2 MM Acquisition 9.4 MM Base* Base* Base* 26.2 MM 23.0 MM 31.8 MM 2010 2011…
  10. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 10
    2014 Initial Capital Budget 360 million initial capital budget Capex by Project Type 2P driven budget focused on oily, lower risk development activities 90% of budget funds exploitation of core fields: 13% Ship Shoal (46%) 17%…
  11. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 11
    Not Your Typical GOM Company
  12. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 12
    Accelerating Growth Align the Value with Grow the Asset the Asset Grow organically Commitments to acquire Position for through the drill-bit Growth new 3D seismic Acquire Begin strategic Catalog 3P potential across…
  13. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 13
    Oil Weighted Acquisition EI258/259 Area EI 258/259 Field SS 208 70.4MM acquisition in Eugene Island 258/259 field 2.6 million boe PDP (91% oil) and 900 boe/d (95% oil) Equates to 27/boe for PDP reserves Stable, long-lived oil…
  14. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 14
    Organic Development Drives Success Demonstrated Organic Success on Acquired Properties Efficient exploiter of acquired assets Rapid Reserve Growth (MMBoe) Tripled reserves in < 2 years Total: 27.0 Acquired assets for 238 million…
  15. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 15
    Growth Potential on the Shelf Why Now Before Today Shallow Pay Drilled many shallow New exploration effort is wells but bypassed underway on GOM Shelf productive sands- Significant resources exist concentrated on just below field…
  16. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 16
    EPLs Growth Portfolio 77.4 MM 3P: 2P: 11 MMBOE Hilcorp 1P: 150 300 16 MMBOE MMBOE Legacy 77 MMBOE 65+ MMBOE Drilling Inventory 77 MMBoe proved 92+ MMBoe 2P reserves 2012 Just below field pays reserves (61% oil) Proved…
  17. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 17
    1P Reserves Repeatable Development Programs w/ Reserve Add Exposure 1P asset base has over 292 identified locations Multiple Pay Horizons 257 behind pipe, 35 PUD Technical teams expanding locations Unique, core legacy assets Huge…
  18. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 18
    2P Reserves Booked Reserves and Upside Potential Hilcorp Acquisition 11 MMBOE Inventory 65+ MMBOE Legacy 16 MMBOE PUDs roll off to 2P New undrilled opportunities in Performance adds field pays 92+ MMBOE in 2P…
  19. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 19
    2P Inventory Prospect Inventory 65+ MMBOE Project Inventory by Area Other 15% Hilcorp Legacy Core Core 37% 48% Legacy Core Hilcorp Core Inventory Reserves by Area Other 65+ MMBOE Inventory Resources 6% Legacy Core…
  20. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 20
    3P Program Timeline for Unlocking 3P Potential PSDM New Seismic Commitments 45 million of capital commitments to multi-client 3D licensing Comprised of new 3D datasets and state-of- the-art reprocessing Focus on Central GOM oil…
  21. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 21
    3P Program Timeline for Unlocking 3P Potential Longer-Term Steps to Develop the Play Full Azimuth Nodal (FAN) Acquisition Technical leader in procurement of new 3D datasets (1+ million acres, 200 blocks) Improved imaging for untested…
  22. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 22
    Not Your Typical GOM Company
  23. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 23
    A Case for Owning EPL Balancing Your Portfolio EPL trades at a significant discount to: 8.0 7.4 Oil shale players 7.0 6.2 Natural gas shale players 6.0 2014 TEV / EBITDA EPL offers investors significant upside 5.0…
  24. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 24
    Cash Margins Outperforming Peers Highest cash margin Highest production from oil Highest realized oil price 20.2 2.6 23.1 11.2 18.0 5.2 3.9 15.3 63.2 6.8 4.0 54.6 43.1 3.0 35.1 25.5 Production from Oil 75.0% 50.2%…
  25. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 25
    Comparison Across Basins % Oil Production Cash Margins (/boe) PEERS Shallow GoM OIL SHALE GAS SHALE Drilling & Completion (MM) Bakken Haynesville R/P (Years) Eagle Ford Barnett Utica Marcellus Source: SEC filings,…
  26. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 26
    Significant Upside in Stock Stock has significantly outperformed peers and the broader market since 2009 Significant upside potential still remains EPL trades at 30% discount to its average analyst target price (at 1/31/14)…
  27. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 27
    Key Takeaways Oil Captured a large, highquality oily asset base with low decline curves Technical expertise to unlock our organic Growth inventory & the financial framework to continue aggregating quality assets…
  28. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 28
    Appendix
  29. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 29
    Strong Management & Professional Team Highly Experienced & Scalable Organization Gary Hanna Chairman, President & CEO T. J. Thom EVP, David Cedro Chief Financial Mac Jensen Andre Broussard Chad Williams SVP, Officer SVP, SVP,…
  30. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 30
    2013 Guidance ESTIMATED PRODUCTION & SWAP HEDGE VOLUMES Net Production (per day) 4Q 2013 Full Year 2013 Oil, including NGLs (Bbls) 14,750 - 15,750 16,850 - 17,100 Natural gas (Mcf) 24,000 - 30,000 31,500 - 33,000 Boe 18,750 -…
  31. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 31
    2014 Initial Guidance ESTIMATED PRODUCTION & SWAP HEDGE VOLUMES Net Production (per day) Full Year 2014 Oil, including NGLs (Bbls) 18,500 - 20,500 Natural gas (Mcf) 27,000 - 33,000 Boe 23,000 - 26,000 % Oil, including NGLs (using…
  32. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 32
    Hedging Summary WTI SWAPS BRENT SWAPS BRENT COLLARS LLS SWAPS TOTAL OIL HEDGED NATURAL GAS SWAPS Daily Monthly Swap Daily Monthly Swap Daily Monthly Daily Monthly Swap Daily Monthly Swap Daily Monthly S wap Volume Volume Level Volume…
  33. THE OIL AND SERVICES CONFERENCE 12 – EPL Oil & Gas, Inc. – slide 33
    Not Your Typical GOM Company Principal Corporate Office: Investor Relations Contact: Houston Office T.J. Thom 919 Milam, Suite 1600 Phone: (713) 2280711 Houston, TX 77002 Email: Phone: (713) 2280711 tthomeplweb.com New Orleans…

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