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Corporate Presentation – Swift Energy Co.

Swift Energy Co. · Feb 26, 2015 · 27 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. Corporate Presentation – Swift Energy Co. – slide 1
    Corporate Presentation February 2015
  2. Corporate Presentation – Swift Energy Co. – slide 2
    Swift Energy Overview High Quality Reserve Base Central & SE Louisiana 194 MMBoe YE 2014 proved reserves Proved Reserves: 36 MMBoe 4Q14 Production: 5,292 boe/d 1.94 Billion PV-10(1) 15% of Total Production Eagle Ford Core Operating…
  3. Corporate Presentation – Swift Energy Co. – slide 3
    Investment Highlights Leader in the gas and gas condensate areas of the Eagle Ford High Quality Eagle Ford Significant inventory of repeatable, lower risk development projects Focused Asset Base 138 MMBoe of proved reserves in Eagle…
  4. Corporate Presentation – Swift Energy Co. – slide 4
    Proactive Response to Current Market Downturn 2015 CapEx has been revised to 110MM to 125MM Midpoint is 70% below 2014 levels Projected CapEx levels expected to yield 11.4 11.6 MMBoe of production Actively targeting reducing various…
  5. Corporate Presentation – Swift Energy Co. – slide 5
    Eagle Ford Operations Gross Locations % Area County Acres YE14 Gas IRR(1) Fasken Webb 8,302 Lower Eagle Ford 45 100% 65% Upper Eagle Ford 60 100% Olmos 20 100% AWP Gas Acreage McMullen 9,994 Lower Eagle Ford 79 80% 30% Condensate…
  6. Corporate Presentation – Swift Energy Co. – slide 6
    Demonstrated Eagle Ford Operational Excellence Average Net Production (Boe/d) 28,800 30,000 175 Cumulative Wells Drilled 165 24,000 Yearly wells drilled 140 129 17,497 18,000 105 89 14,180 12,000 70 7,346 43 6,000 35 1,294 14…
  7. Corporate Presentation – Swift Energy Co. – slide 7
    Drill & Complete Design Improving Results 3,500,000 Average Cumulative 300 Day Gas Production at Fasken 3,000,000 Enhanced Design(1) 2,500,000 2,000,000 Mcf 1,500,000 1,000,000 Original Design 500,000 0 0 30 60 90 120 150 180…
  8. Corporate Presentation – Swift Energy Co. – slide 8
    Importance of Geo-Steering & Longer Laterals(1) Drilling Lateral PCQ EF 3H Well Path Length (ft) Stages 150 PCQ EF 3H Out of zone 3,300 10 PCQ EF 7H In zone 6,400 19 PCQ EF 7H 30 150,000 1 Year Cumulative Production…
  9. Corporate Presentation – Swift Energy Co. – slide 9
    Benefits of Engineered Frac Design & Lateral Length(1) Open hole logging of laterals Geometric Frac Identifies optimal frac gradient and brittle zones Allows optimal grouping and perforating of frac intervals Enhanced Fracture…
  10. Corporate Presentation – Swift Energy Co. – slide 10
    Eagle Ford Objectives Apply AWP and Fasken proven techniques and technology to other Eagle Ford properties Greater drilling focus in 2015 on Fasken and AWP gas and condensate acreage Further analyze and high grade Eagle Ford…
  11. Corporate Presentation – Swift Energy Co. – slide 11
    Fasken Lower Eagle Ford Fasken Lower Eagle Ford Overview Dimmit La Salle Net Acres: 8,302 Fasken B EF 2H Avg IP: 10.4 MMcf/d Well Spacing: 660 Fasken BD EF 14H Remaining Lower EF Locations at YE 2014: 45 Avg IP: 20.6 MMcf/d Fasken…
  12. Corporate Presentation – Swift Energy Co. – slide 12
    Fasken Economics: Exceptional Returns 35% 32% IRR Competitive with Major U.S. Oil Plays(1) 30% 25% 20% 18% 15% 15% 12% 10% 10% 8% 8% 7% 5% 0% SFY Fasken Wolfcamp Eagle Ford Utica Middle Wattenberg PRB: Frontier TMS Midland…
  13. Corporate Presentation – Swift Energy Co. – slide 13
    Saka JV Demonstrates Fasken Value and Strong Operations Saka Energi Indonesia agreed to participate in the development of approximately 8,300 acres in Fasken Saka paid 175 MM in total cash consideration for a 36% full participating…
  14. Corporate Presentation – Swift Energy Co. – slide 14
    Increased Capacity Accommodates Fasken Growth(1) Energy Transfer Fasken 15 (1) Graphics are for presentation purposes only and do not depict all relevant information.
  15. Corporate Presentation – Swift Energy Co. – slide 15
    AWP Eagle Ford Gas Overview AWP Eagle Ford Gas Overview Net Acres: 9,994 Well Spacing: 660 Remaining Locations at YE 2014: 79(1) Avg Working Interest: 98% Avg Net Revenue Interest: 73% Operational Excellence Bracken JV EF 15H…
  16. Corporate Presentation – Swift Energy Co. – slide 16
    AWP Eagle Ford Condensate Overview AWP Eagle Ford Condensate Overview Net Acres: 3,355 Well Spacing: 660 Remaining Locations at YE 2014: 11(1) Avg Working Interest: 98% Avg Net Revenue Interest: 73% Operational Excellence…
  17. Corporate Presentation – Swift Energy Co. – slide 17
    AWP Eagle Ford Oil Overview AWP Eagle Ford Oil Overview SMR EF 11H PCQ EF 14H Avg IP: 1,608 Boe/d Net Acres: 14,749 Well Spacing: 440 Avg IP: 1,302 Boe/d SMR EF 10H Remaining Locations at YE 2014: 104(1) PCQ EF 15H Avg IP: 1,562…
  18. Corporate Presentation – Swift Energy Co. – slide 18
    Louisiana Properties Lake Washington Development Stable production stream and cash flows Numerous low-cost, high-return projects Recompletions and workovers Enhancements Sour crude oil production exploitation Cap rock…
  19. Corporate Presentation – Swift Energy Co. – slide 19
    FINANCIAL OVERVIEW
  20. Corporate Presentation – Swift Energy Co. – slide 20
    Capitalization in Millions in Millions Dec. 31, 2013 Dec. 31, 2014 Actual Actual Cash 3 0% -- 0% Bank Borrowings 265 12% 197 10% 71/8% Sr Notes due 2017 250 11% 250 13% 87/8% Sr Notes due 2020 222 10% 223 12% 77/8% Sr Notes due…
  21. Corporate Presentation – Swift Energy Co. – slide 21
    Debt Maturity Schedule 450 Senior Notes Maturity Schedule 400 400 7.875% 350 March 1st 300 250 250 225 7.125% 200 June 1st 8.875% Jan 15th 150 100 50 0 2015 2016 2017 2018 2019 2020 2021 2022 417.6 Million Bank Borrowing…
  22. Corporate Presentation – Swift Energy Co. – slide 22
    1Q15 & FY15 Production and CapEx Budget(1) First Quarter 2015 Guidance Range Total Production Volumes (MMBoe) 2.92 2.97 Natural Gas Production (Bcf) 11.1 11.2 Crude Oil Production (MMBbl) 0.65 0.67 Natural Gas Liquids Production…
  23. Corporate Presentation – Swift Energy Co. – slide 23
    APPENDIX
  24. Corporate Presentation – Swift Energy Co. – slide 24
    Fasken Sensitivity Analysis Model Assumptions D&C Cost (MM) 5.5 - 7.0 EUR (Bcf) 12-15 Lateral Length (ft) 7,500 Proppant (MMlbs) 9-11 IP (MMcf/d) 20 Gas Price (NYMEX) 2.50 - 4.00 IRR(1) 38% - 100% 24,000 Enhanced Fasken Well…
  25. Corporate Presentation – Swift Energy Co. – slide 25
    AWP Eagle Ford Gas Sensitivity Analysis Model Assumptions D&C Cost (MM) 7.5 - 8.5 EUR (Bcf) 8-10 Lateral Length (ft) 6,500 Proppant (MMlbs) 9-11 IP (MMcf/d) 12,500 Gas Price (NYMEX) 2.50 - 4.00 IRR(1) 18% - 83% 12,500 Enhanced…
  26. Corporate Presentation – Swift Energy Co. – slide 26
    AWP Eagle Ford Oil Sensitivity Analysis Model Assumptions D&C Cost (MM) 6.0 - 7.0 EUR (MBoe) 400 - 500 Lateral Length (ft) 7,000 Proppant (MMlbs) 9-10 IP (Boe/d) 1,120 IRR(1) 15% - 39% 1,250 Enhanced AWP Eagle Ford Oil…
  27. Corporate Presentation – Swift Energy Co. – slide 27
    Corporate Information Corporate Headquarters Swift Energy Company 16825 Northchase Dr, Suite 400 Houston, Texas 77060 (281) 874-2700 or (800) 777-2412 www.swiftenergy.com Contact Information Doug Atkinson, CFA Manager -…

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