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Citi Globa Energy and Utilities Conference – EP Energy Corp

EP Energy Corp · May 14, 2014 · 23 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. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 1
    Citi Global Energy and Utilities Conference May 14, 2014
  2. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 2
    EP Energy Today Oil-focused growth EAGLE FORD SHALE WOLFCAMP SHALE company with four core Net Acres: 91,675 Net Acres: 1Q 2014 Net Daily Production (MBoe/d): 175,1731 11.9 1Q 2014 Net Daily Production (MBoe/d): 46.5 assets in leading…
  3. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 3
    Performance Highlights Execution Growth Concentrated asset base with high Accelerating oil and equivalent degree of operating control production growth Record well completions Expect YOY oil volumes up 45% 66 wells in 1Q14 Expect…
  4. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 4
    Significant Oil Production Growth MBbls/d Total Company1 49.1 30.8 Altamont 9.8 1Q 2013 1Q 2014 7.9 1Q 2013 1Q 2014 Eagle Ford 31.6 20.4 Wolfcamp 7.2 1Q 2013 1Q 2014 1.5 1Q 2013 1Q 2014 Operational enhancements &…
  5. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 5
    High-Quality, Concentrated Asset Portfolio Eagle Ford Wolfcamp Altamont Haynesville A Leading Operator in Each Basin 6
  6. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 6
    Eagle Ford: Franchise Program Continued growth and improvement in high-return assets Oil Production (MBbls/d) 31.6 Six rigs running 27.3 Improved run time and reducing unit 26.1 lifting cost 22.2 20.4 Record quarterly…
  7. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 7
    Eagle Ford: Continuous Improvement EUR Progression (MBoe) Improved performance Multi-year EUR progression 663 719 Success drivers 586 500 Refining lateral placement Improving stimulation design and execution Resin-coated sand,…
  8. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 8
    Wolfcamp: Rapidly Growing Oil Asset Quarterly Production 11.9 Significant production growth Volumes 2.3 Fourth rig added in late March 8.7 1.8 Record quarterly production in 1Q14 of 6.4 11.9 Boe/d (7.2 MBbls/d of oil) 1.5 9.6…
  9. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 9
    Wolfcamp: Current Development Concept Expanding development across acreage position 2014 primarily combined B/C development Adding A wells 770' between wells in each zone Completing all wells on a pad prior to…
  10. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 10
    Wolfcamp: Improving Results 23 Development plan focused on B/C Development Wells Cumulative Production (Mboe) combined B/C development 140 Current Type Curve Well Average (up to 29) Individual Wells Well results above type curve…
  11. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 11
    Wolfcamp: Expanding Development Region derisked by industry activity and 2013 Wells 2014 Wells WCB 61 A Bench 5 tests WCC 5 B Bench 45-50 Total = 66 C Bench 45-50 1,300+ horizontal wells Total = 95-105 in four county area1 220 A…
  12. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 12
    Altamont: Consistent Growth Steady production growth from advantaged position in Uinta Basin Three rigs now running Record quarterly production in Q114 of 13.4 Boe/d (9.8 MBbls/d of oil) 3540 well completions (14E) 11 wells…
  13. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 13
    Financial Execution Strong financial performance from core assets Higher oil volumes improve unit margins and returns Solid hedge positions in 20142016 support cash flows Ample financial capacity Reaffirmed 2.5 billion borrowing…
  14. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 14
    Efficient Capital 7 well 11 well Other 4 Other 3 completions completions Altamont Altamont 49 64 30 well completions 6 well Wolfcamp 35 well 20 well Wolfcamp Eagle Ford completions 104 Eagle Ford completions completions 132…
  15. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 15
    Exciting 2014 Growth Outlook Programs well positioned for growth Continued production 45+ percent increase in oil volumes now growth1 19 percent increase in total equivalent production now2 1.73 billion drilling and completion…
  16. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 16
    Citi Global Energy and Utilities Conference May 14, 2014
  17. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 17
    Non-GAAP Disclosures Disclosure of Non-GAAP Financial Measures The Securities and Exchange Commissions Regulation G applies to any public disclosure or release of material information that includes a non-GAAP financial measure. In the…
  18. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 18
    Raising 2014 Production Growth Original 2/10/14 Year/Year Updated 5/7/14 Year/Year Growth Rate Growth Rate Oil production (MBbls/d) 50 - 54 40% 52- 55 46% Total production (MBoe/d) 94.5 102.5 15% 93.5 99.51 19%2 Capital program (…
  19. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 19
    Type Well Economics Eagle Ford Wolfcamp Altamont Haynesville Central North Long Short Vertical 1 Horizontal Holly Non-Holly Lateral Length (ft) 5,600 5,600 7,500 4,500 NA 3,960 4,500 4,500 IP30 (Boe/d) 692 223 373 253 525 613 1,980…
  20. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 20
    Successful Strategy in Action Immediate upgrade to asset portfolio Divesting non-core South Louisiana Wilcox and non-Haynesville Arklatex tight-gas assets for 150 million Acquired 37,000 acres in Southern Midland Basin immediately…
  21. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 21
    Eagle Ford: High-quality Oil Production 47.0 46.0 45.0 Average API 44.0 Gravity1 43.0 42.0 No gravity adjustments for oil with gravity of 45 degrees or below 41.0 Month 80.0 Monthly Sales Volumes by Product 70.0 Oil…
  22. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 22
    Haynesville Premier Shale Gas Resource Haynesville: Premier Shale Gas Resource Peak Month 37,000 net acres in core of Gas (Mcf/d) De Soto Parish in NE EPE acreage 10,000+ Louisiana 7,500 to 9,999 5,000 to 7,499 Acreage 100% HBP…
  23. Citi Globa Energy and Utilities Conference – EP Energy Corp – slide 23
    Solid Hedge Program 2014 2015 2016 Fixed Price Hedges1 Oil volumes (MMBbls) 14.6 21.0 11.8 Average floor price (/Bbl) 97.79 91.19 90.47 Percent hedged based on updated 2014 guidance 100% +100% 60% Natural Gas (TBtu) 57.3 58.4 7.3…

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