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BAML High Yeild Conference – Stone Energy Corp.

Stone Energy Corp. · Jun 5, 2014 · 31 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. BAML High Yeild Conference – Stone Energy Corp. – slide 1
    Strategic Growth Strategic Growth B of A Merrill Lynch Energy High Yield Conference New York, NY June 2014 1
  2. BAML High Yeild Conference – Stone Energy Corp. – slide 2
    Mission: Top Quartile Return to Shareholders 1 Strategic Growth as of December 2013 1 Year Average 3 Year Stock Performance 5 Year Stock Performance 2013 2011 2013 CAGR% 2009 2013 CAGR % -50% 0% 50% 100% 150% -40% -20% 0% 20% 40%…
  3. BAML High Yeild Conference – Stone Energy Corp. – slide 3
    Strategic Growth Strategic Growth Significant Exploration Exposure 2 Impactful Deep Water prospects Production Forecast Quick to Market liquids rich Deep Gas prospects 120 Utica Shale potential within existing infrastructure Range…
  4. BAML High Yeild Conference – Stone Energy Corp. – slide 4
    Strategic Growth Growth Areas Contributing 1 Activity Update Deep Water Successful Discovery at Amethyst Success at Cardona, Cardona South Appalachia Accelerated Cardona Development Project 90,000 acres Morgantown Evaluate…
  5. BAML High Yeild Conference – Stone Energy Corp. – slide 5
    Strategic Growth Major Capital Projects for 2014 825 Million 10% 3% 12% 18% 26% 58% 70% Deep Water Business Development Data & Capture 3% Marcellus Shale Exploration Conventional Shelf Development Deep Gas 1 1 Capital by…
  6. BAML High Yeild Conference – Stone Energy Corp. – slide 6
    1 5 Year Plan: Deep Water Strategic Growth Capital 5 Year Plan MM 700 Range 600 500 400 2014 Goals 300 Meet HSE, Production, Expense and Capital targets 200 Enhance Process Safety in Deep Water Operations 100 Complete…
  7. BAML High Yeild Conference – Stone Energy Corp. – slide 7
    Strategic Growth Deep Water Lease Portfolio 1 Legend Stone Leases 2014 2015 2016+ 119 Deep Water leases, 3 apparent high bid 20 High potential prospects 17 Tie back exploration projects 12 Platform development…
  8. BAML High Yeild Conference – Stone Energy Corp. – slide 8
    Deep Water : Infrastructure Leverage Strategic Growth Pompano Platform Capacity (current) Legend 1 60,000 bopd (4,000 bopd) Stone Leases 200 mmcfpd (20 mmcfpd) 2014 2015 2016+ Carrick Viosca Knoll Mississippi…
  9. BAML High Yeild Conference – Stone Energy Corp. – slide 9
    Deep Water: Pompano Platform Strategic Growth 60,000 bpd capacity (4,000 bpd current) 200 mmcfpd capacity (20 mmcfpd current) 1,300 water depth 3rd party processing fees Maintain optimal access Aggressive maintenance capital…
  10. BAML High Yeild Conference – Stone Energy Corp. – slide 10
    Pompano - MC 29 Cardona/Cardona South Discoveries 1 Strategic Growth 65% Working Interest On line: Est. Jan 2015 Shale Out Salt Cardona TB-9 Cardona Net Pay 96 Ft. Est. EUR Range: 4 - 8 mmboe gross Potential Cardona…
  11. BAML High Yeild Conference – Stone Energy Corp. – slide 11
    1 GOM Deep Water: Cardona Tieback Development Strategic Growth Pompano Cardona Sand Detector Long Term Operability Future capability and flexibility Multiple flow options Optimize access Cardona South Available Hub 2013…
  12. BAML High Yeild Conference – Stone Energy Corp. – slide 12
    Amethyst Discovery Strategic Growth Operator SGY 100% working interest 90 feet of pay in main zone Est EUR gross 60 240 bcfe 1 1 Est. 40 80 mmcfed rate potential Amethyst Offset fault block Pompano De-risks Derbio Field…
  13. BAML High Yeild Conference – Stone Energy Corp. – slide 13
    1 GOM Deep Water: Amethyst Tieback Development Strategic Growth CRA Flexible Line 15 kpsi Tree Additional Hub Flexible Line supports optimal schedule and operability 2014 2015 2016 Sanction Detailed Design Critical…
  14. BAML High Yeild Conference – Stone Energy Corp. – slide 14
    1,2 Strategic Growth Deep Water Platform Rig Programs Amberjack Pompano Pompano Platform A-25 ST M Sr. SGY 100% SGY 100% Operator SGY Operator SGY PUD Pliocene A-15 ST2 Brutus M Sand SGY 100% SGY 100% Amplitude Operator…
  15. BAML High Yeild Conference – Stone Energy Corp. – slide 15
    1 Deep Water Exploration: Projected 2014 Wells Strategic Growth Planned Rig Schedule (Subject to change) 2014 2015 January April July October January April Prospect Operator Amethyst MC26 SGY Mica Deep MC211 XOM Goodfellow…
  16. BAML High Yeild Conference – Stone Energy Corp. – slide 16
    1 Strategic Growth Deep Water Wells 2015- 2017 Planned Rig Schedule (Subject to change) 2015 2016 2017 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan Feb Mar Apr May June July Aug Sept…
  17. BAML High Yeild Conference – Stone Energy Corp. – slide 17
    1 5 Year Plan: Appalachia Marcellus Plan Strategic Growth Capital 5 Year Plan MM 300 Range 250 200 2014 Goals 150 Drill 32 top-holes & 30 horizontal Marcellus laterals 100 Complete 30 Marcellus laterals (approx. 600 frac…
  18. BAML High Yeild Conference – Stone Energy Corp. – slide 18
    Strategic Growth Liquids Rich Marcellus Development 1,2 Marcellus Reserves & Resources Forecast 1000 Range Projected Actual Katie Field 900 1,100 acres 800 equivalent reserves - bcfe 2 producing wells 2 mmcfepd net 700…
  19. BAML High Yeild Conference – Stone Energy Corp. – slide 19
    Appalachia: Marcellus Mid-Stream Upgrades Strategic Growth MOUNDSVILLE OAK GROVE FT. BEELER Planned Williams Mid-Stream Projects Oak Grove Cryogenic Plant TEXAS Eastern Pipeline 1st stabilizer expected May 2014 De-ethanizer…
  20. BAML High Yeild Conference – Stone Energy Corp. – slide 20
    Appalachia Exploration: Utica Shale Update Strategic Growth Mary Field Utica Potential Gulfport IP: 30 mmcfed 28,500 net acres High rate offset wells Chevron IP: 23 mmcfed Additional permitted wells Existing Mary…
  21. BAML High Yeild Conference – Stone Energy Corp. – slide 21
    Regional Utica Structure and Cross Section Strategic Growth Stone 100ft Increased Carbonate Pribble pad Wetzel County Vertical depth 10,800 Lateral length 3,700 Interval Thickness 95-120 Frac Spacing 200 per…
  22. BAML High Yeild Conference – Stone Energy Corp. – slide 22
    1 5 Year Plan: Deep Gas Strategic Growth Capital 5 Year Plan MM 70 Range 60 50 2014 Goals 40 Complete Tom Cat and Commence production by July 1 30 Drill 1 - 2 Deep Gas prospects 20 Cayenne 10 Market and drill La…
  23. BAML High Yeild Conference – Stone Energy Corp. – slide 23
    1 Strategic Growth Deep Gas Exploration: Quick-to-Market Portfolio 2014 2015 Planned Rig Schedule (Subject to Change) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan Feb Mar Apr May June July Aug…
  24. BAML High Yeild Conference – Stone Energy Corp. – slide 24
    1 Strategic Growth Conventional Shelf: Harvest Value 25.0 Conventional Shelf Production Oil NGL Gas 20.0 Ongoing Market Test Divested Sold Onshore package for 95 mm 15.0 properties boepd State and federal offshore market…
  25. BAML High Yeild Conference – Stone Energy Corp. – slide 25
    Strategic Growth Balance Sheet Flexibility 1 Market Capitalization 2.4 Billion Enterprise Value 1 3.1 Billion Trailing 12 Month EBITDA 2 611 Million EV/EBITDA 4.9x Liquidity: 203 Million in Cash Another 200 Million from Equity…
  26. BAML High Yeild Conference – Stone Energy Corp. – slide 26
    Strategic Growth Cash Margin Revenue per (Includes Hedges) Cash Margin /boe Current Taxes Interest Expense 80 Production Taxes G&A LOE & Processing 66.03 61.36 60 57.34 55.17 51.24 49.28 38.31 40 37.18 33.05 33.54…
  27. BAML High Yeild Conference – Stone Energy Corp. – slide 27
    Strategic Growth Multiple Options to Fund Projects Exploration and Development Projects 2014 Funding Alternatives Deep Water Exploration Cash flow Amethyst, Mica Deep, Harrier, Goodfellow Cash position Deep Water Development…
  28. BAML High Yeild Conference – Stone Energy Corp. – slide 28
    Stone Energy Investment Thesis Strategic Growth Estimated Capital Expenditures 2 Significant 2014 Exploration Exposure 1400 Deep Water: Amethyst, Mica Deep , Harrier, Goodfellow Base Range High Side 1200 Deep Gas: Tomcat,…
  29. BAML High Yeild Conference – Stone Energy Corp. – slide 29
    Strategic Growth Appendix 30
  30. BAML High Yeild Conference – Stone Energy Corp. – slide 30
    1 EBITDA Reconciliation Strategic Growth 12 Months Ending 3/31/14 Net Income 103 Interest expense 31 Income taxes 61 DD&A 358 Accretion& Other 58 EBITDA 611 (In Millions) 1 - EBITDA is defined as net earnings plus…
  31. BAML High Yeild Conference – Stone Energy Corp. – slide 31
    Strategic Growth Hedging Transactions Oil Natural Gas Daily Volume Daily Volume (Bbl/d) Price (Mmbtu/d) Price 2014 1,000 90.06 Swap Contract 2014 10,000 4.00 Swap Contract 2014 1,000 90.25** Swap Contract 2014 10,000 4.04 Swap…

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