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May 2014 Investor Presentation – Rosetta Resources, Inc.

Rosetta Resources, Inc. · May 31, 2014 · 36 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. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 1
    Rosetta Resources Inc. Investor Presentation May 2014
  2. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 2
    Company Strategy Key Elements Grow core area in Permian Basin focused on horizontal applications Leverage Maintain position as a leading operator in the high-return Eagle Ford play High-Grade Asset Base Develop combined year-end…
  3. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 3
    Rosetta Resources Asset Overview Ticker: ROSE Market Summary Market capitalization: 2.9 billion (May 13, 2014 Close) Share price: 46.31 Enterprise value: 4.4 billion Permian Eagle Ford 63,000 net acres (100% operated) Gaines Co.…
  4. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 4
    Strong Growth Track Record Net Risked Resource Potential Net Production (MMBoe) (MBoe/d) Permian Acquisition 288 MMBoe Total Company Guidance Range 879 70 900 60 - 65 65 800 60 60 Divested 11 MMBoe 54 700 50 50 600 578 570…
  5. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 5
    2014 Capital Program (1.1 Billion1) Continued focus on oil and liquids-rich development By Region By Category Other Other 6% 9% Facilities 7% Permian 24% Eagle Ford Drill & Complete2 67% 87% Rig Programs Eagle Ford:…
  6. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 6
    ASSET OVERVIEW
  7. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 7
    Gates Ranch 26,200 net acres in Webb County 10 miles Eagle Ford Mar 31, 2014 Summary Completions to date: 148 gross completions Locations remaining: 284 net well locations1 Average2 Lower EF Well Characteristics Well Costs: 6.0 - 6.5…
  8. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 8
    Upper Eagle Ford Pilot Areas Gates Ranch Lasseter & Eppright L&E Lower 475 3rd Pilot 55-acre spacing 1st Pilot Upper Lower 4th Pilot Upper Lower 2nd Pilot 9
  9. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 9
    Briscoe Ranch 3,600 net acres in southern Dimmit County Mar 31, 2014 Summary Completions to date: 28 gross completions Locations remaining: 40 net well locations Average Well Characteristics Well Costs: 6.0 - 6.5 MM Spacing: 50 acres…
  10. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 10
    Central Dimmit County Area 8,500 net acres located in Dimmit County Mar 31, 2014 Summary Completions to date: 19 gross completions Locations remaining: 96 net well locations Average Well Costs Light Ranch & Vivion: 5.5 - 6.0 MM…
  11. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 11
    Tom Hanks 3,500 net acres in LaSalle County Mar 31, 2014 Summary Completions to date: 16 gross completions Eagle Ford (EF) development Pearsall exploration Pearsall Expl Well Average EF Well Characteristics Well Costs: 5.5 - 7.0 MM…
  12. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 12
    Lopez Farm-In 500 net acres in Live Oak County Mar 31, 2014 Summary Farm-In from Killam Oil BPO: 100% WI, 75% NRI APO: 65% WI, 48.75 NRI Completions to date: 3 completions Locations remaining: 5 net well locations Average Well…
  13. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 13
    Permian Reeves County 47,000 net acres 1st Quarter 2014 15 completions: 13 vertical 2 horizontal Mar 31, 2014 Summary Wells Completed by 47 gross completions (4 horizontal) Rosetta to Date Locations remaining: 1,400 net vertical &…
  14. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 14
    Permian Horizontal Development Plan 3/31/2014 1,176 Gross (Avg 76% WI) Horizontal Well Locations1 1. Horizontal project count is operated and non operated and includes multiple horizons (Wolfcamp A, B, C, and 3rd Bone Spring). 15
  15. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 15
    Total Company Inventory +/- 2,060 net wells -- remaining as of 3/31/2014 (excluding Upper Eagle Ford) Wells Drilling rig Wells awaiting Remaining Avg Cost / Net acres completed Well Spacing Years remaining activity completion net…
  16. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 16
    MARKETING AND FINANCIAL OVERVIEW
  17. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 17
    Eagle Ford Multiple Takeaway Options Gas Transportation Capacity Gates Ranch NGL Firm gross wellhead gas takeaway Breakdown March 2014 245 MMcf/d today, ramping up to 345 MMcf/d by year-end 2014 C5+ 7% C4 Six processing options…
  18. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 18
    Permian Basin Marketing Oil Currently trucked from leases Oil gravity averages 44 degrees and receives no gravity deducts Natural Gas Gas is rich and is processed at two plants Most leases under long-term gathering agreement…
  19. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 19
    Commodity Derivatives Position May 16, 2014 Liquid Derivatives Natural Gas Derivatives (Bbls/d) (MMBtu/d x 1,000) 20,000 19,000 100 10,000 90 18,000 90 40 80 16,000 15,000 80 30 37.10 5,000 14,000 70 4.18 4.07 12,000 31.87 60…
  20. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 20
    Liquidity Total Liquidity 994 1,000 (Millions) 900 795 800 700 630 589 600 800 500 452 371 740 400 342 610 525 300 237 415 200 295 360 195 100 194 42 47 37 20 64 55 0 11 12/31/2010 12/31/2011 12/31/2012 3/31/2013…
  21. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 21
    Investment Summary Drill-bit focused producer with large acreage positions in liquids-rich Eagle Ford and oil-weighted Permian Basin plays Attractive core Delaware Basin position Successful operator in the high-return Eagle Ford…
  22. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 22
    APPENDIX
  23. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 23
    Attractive Well Economics (Typical Well) Gates Ranch Horizontal Briscoe Tom Hanks L&E Upper North Ranch Far South Southeast Far North Wolfcamp Central 100% 100% 100% 100% 100% 100% 100% 100% Average WI / NRI 75% 75% 75% 75% 81%…
  24. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 24
    Upper Eagle Ford Pilot Program Future Plans are to pilot test the Upper Eagle Ford at North Gates & Briscoe Ranch ... A Pilot 1 Pilot 4 Pilot 2 Pilot 3 Future Pilot Future Pilot (East Gates) (East Gates) (South Gates) (L&E) (North…
  25. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 25
    Upper Eagle Ford Pilot Program Various landing depths are being targeted in the Upper Eagle Ford to improve stimulation effectiveness Upper EF Upper EF Estimated Total EF Upper EF Target Targeted Ultimate Thickness Wells Pilot…
  26. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 26
    Well Performance on 55 acres Compared to similar offsetting wells spaced at 100 acres 73 wells The 73 wells are performing in line with 33 comparable Our largest continuous group offsetting wells albeit at anticipated lower condensate…
  27. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 27
    Gates Ranch Development Timeline Eagle Ford Producing Wells By Year with EUR expectations Old Perspective New Perspective South Type Curve - 1.9 MMBoe (18% Oil / 35% NGLs) Well EUR Ranges 9 miles Composite Type Curve - 1.7…
  28. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 28
    Gates Ranch Far South P50 Type Curve Gates Ranch Far South excluding 4-19 Well EUR Ranges 9 miles (MMboe) EUR 2.35 MMBoe (2.0-2.7) 16% Oil / 39% NGLs Completions by Year 2009 (1) Far North 2010 (16) (0.7 1.3) 2011 (39)…
  29. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 29
    Gates Ranch Southeast P50 Type Curve Gates Ranch Southeast excluding 4-19 Well EUR Ranges 9 miles (MMboe) EUR 2.15 MMBoe (1.8-2.5) 16% Oil / 39% NGLs Completions by Year 2009 (1) Far North 2010 (16) (0.7 1.3) 2011 (39)…
  30. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 30
    Gates Ranch North Central excluding 9-5 P50 Type Curve Well EUR Ranges 9 miles (MMboe) EUR 1.13 MMBoe (0.8-1.5) 20% Oil / 37% NGLs Completions by Year 2009 (1) Far North 2010 (16) (0.7 1.3) 2011 (39) 2012 (40) 2013…
  31. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 31
    Gates Ranch Far North P50 Type Curve Well EUR Ranges 9 miles (MMboe) EUR 1.02 MMBoe (0.7-1.3) 20% Oil / 37% NGLs Completions by Year 2009 (1) Far North 2010 (16) (0.7 1.3) 2011 (39) 2012 (40) 2013 (44) 10 miles…
  32. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 32
    Tom Hanks Eagle Ford P50 Type Curve 346 MBoe (82% Oil / 8% NGLs) Normalized BOE (bbl/d) - 3-Stream Normalized Time (Days) Normalized to 5,000 lateral length 33
  33. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 33
    Permian Reeves County Upper Wolfcamp Horizontal Type Curve P50 Type Curve Average Well Costs (MM) 8.5 30-Day IP Boepd (gross) 1,090 Composite EUR Mboe (gross) 550 % Oil 74% % NGL 10% *All production data normalized to 5,000'…
  34. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 34
    Well Cost Performance Gates Ranch Spud to Rig Release / Completed Well Cost 40 10.0 8.7 8.8 9.0 35 7.7 8.0 30 6.6 7.0 6.3 25 Completed Well Cost MM Cycle Time (Days) 6.0 20 5.0 4.0 15 3.0 10 2.0 5…
  35. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 35
    Well Cost Performance Permian Horizontals Spud to Rig Release / Completed Well Cost 100 12.0 90 10.5 10.0 80 8.5 70 7.8 8.0 Completed Well Cost MM Cycle Time (Days) 60 50 6.0 40 4.0 30 20 2.0 10 0…
  36. May 2014 Investor Presentation – Rosetta Resources, Inc. – slide 36
    Debt and Capital Structure Debt Structure Capital Structure (MM) (MM) 9.0% 3,500 80% 2,000 8.5% 8.0% 70% 3,000 2,944 2,848 7.1% 7.2% 1,560 7.0% 1,500 60% 1,500 2,500 1,348 1,384 6.3% 6.0% 6.0% 53% 50% 53% 5.0% 2,000 40% 40%…

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