Skip to main content INVESTOR PRESENTATION – Petroquest Energy Inc. | Shale Experts
Loading...
Database
Slide Database

INVESTOR PRESENTATION – Petroquest Energy Inc.

Petroquest Energy Inc. · Mar 1, 2015 · 28 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. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 1
    March 2015
  2. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 2
    Navigating the Current Environment Flexibility to control capital expenditures Large operated position allows for control of timing of investments - 2015E Capex down 67% from 2014 Majority of acreage is held by production Minimal…
  3. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 3
    2014 Recap Proved reserves 34% (Company Record 397 Bcfe) PV-10 27% Production 14% (Company Record 43 Bcfe) Successful drilling programs: De-risked large acreage positions in Woodford and Cotton Valley with excellent drilling…
  4. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 4
    Our Properties Gulf Coast Gulf Coast Mid-Con 2014 PRODUCTION: RESERVES: 118.7 Mmcfe/d (1) East Texas (62% Long Life) 397.1 Bcfe (1) Mid-Con (86% Long Life) East Texas Gulf Coast Mid-Con INVENTORY: 1.6 Tcfe (2) (91%…
  5. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 5
    Industry Activity - Cotton Valley Trend Relative Rock Quality Comparison PQ13: 12.3 MMcfe/d  PQ Cotton Valley Gulf Coast PQ14: 13.5 MMcfe/d Porosity (5%) (10%) (28%) PQ15: 11.4 MMcfe/d Maus PQ Cotton Valley Gulf Coast PQ16: 16.7…
  6. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 6
    Cotton Valley Horizontal Horizontal Uplift Horizontal Completions Realizing 11x EUR Uplift vs. Vertical Wells 10 8.6 9 8 7 6 Avg. Bcfe / Well 5 4 3 2 1 0.7 0 61 Vertical Wells 2014 Horizontal Wells (1)…
  7. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 7
    Cotton Valley Horizontal Moving Up the Curve Improving Well Performance 15.4 8.0 5,000 14 11.9 12 7.0 4,500 10 4,232 Average D&C Cost 9.1 4,106 4,147 Lateral Feet 8 7.4 6.0 4,000 6.3 Gas 6 Liquids 6.9 4 5.0…
  8. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 8
    Cotton Valley Horizontal Economics Sensitivity to Gas Prices 80 IRR 73% Payback: 1.3 5.2MM 70 IRR 54% 60 Payback: 1.6 IRR - % 50 IRR 37% Payback: 2.2 40 30 20 3.00 3.25 3.50 3.75 4.00 Economic Assumptions…
  9. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 9
    Cotton Valley Horizontal Planned Activity and Inventory Near-Term Drilling Program Horizontal Cotton Valley Inventory PQ 2011 -2013 Existing CV CV Horizontal Vertical Wells WellsPQ 2011 2013 CV Horizontal PQ 2011 2013 PQ 2014…
  10. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 10
    Cotton Valley Drilling to Unlock NAV 600 512.7 500 400 100% Growth in reserves in 2014 BCFE 300 200 100 89.4 45.3 0 E. Texas Proved 12/31/13 E. Texas Proved 12/31/2014 Net Risked Potential* (6 New Wells) *…
  11. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 11
    Gulf Coast Free Cash Flow Generator Fleetwood Project Area Lafayette Key Operating Metrics Houston Ten Year Drilling Success Rate: 74% La Cantera / PV-10 (MM) (12/31/14): 209 Thunder Bayou 2014 Production (Mmcfe/d) 45 % Gas:…
  12. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 12
    LaCantera/Thunder Bayou Deeper Pool Tests ERATH FIELD Composite Outline of Field Pay 1.4 TCFE SOUTH ERATH DISCOVERY MID CRIS R HILCORP TIGRE LAGOON/ SOUTH TIGRE LAGOON FIELDS Composite Oultine of Field Pays Cris I, Disc…
  13. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 13
    Fleetwood JV Overview Fleetwood JV Overview Announced a 24 million joint venture agreement to develop a conventional onshore oil play 10MM cash; 14MM carry to earn an average 50% w.i. in partners interest in Fleetwood project area…
  14. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 14
    Woodford Position Ramping Up Development (1) PQ owns approximately 50% of net JV acres 15 arkoma basin
  15. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 15
    Woodford Liquids Rich Gas West Relay Field Economic Assumptions Sensitivity to Gas Prices 125% JV Terms (1), (2) EUR (Bcfe) 4.6 IRR: 97% 100% Gross Well Cost (MM) 4.0 IRR: 79% 75% IP Rate (Mmcfe/d) 7.1 IRR: 55% 50% % Gas /…
  16. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 16
    Liquidity Metrics and Leverage Liquidity Borrowing Base (MM) * Does not include PV10 250 200 220 from Thunder Bayou or 2 most recent HCV wells 150 125 50 Bank Price Deck 1Q12 2Q13 3Q14 3.79/Mcf 80.86/Bbl New Financial…
  17. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 17
    Strong Track Record of Funding Drilling with Cash Flow PQ has balanced Capex and cash flow over the past 10 years Direct CapEx (excluding acq.) Cash Flow Other Proceeds (1) 1,600 1,400 190 1,200 1,000 MM 800 600 1,228…
  18. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 18
    Operating & Financial Metrics Revenue (MM) Discretionary Cash Flow (MM) (1) 150 250 225 126.5 200 183 125 160 150 141 100 93.4 93.1 100 77.4 75 50 0 50 2011 2012 2013 2014 2011 2012 2013 2014 Avg. Net Daily Production…
  19. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 19
    Summary Liquidity position (143 million3/01/15)* and control of operations provide flexibility to navigate current environment No long-term rig commitments Reduced spending does not impact acreage position Carthage: All HBP…
  20. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 20
    Appendix 21
  21. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 21
    Appendix 1 - Hedging Positions Natural Gas Daily Hedged Volumes (Mmbtu) Price 2015 10,000 4.16 2015 5,000 4.00 2015 5,000 3.57 2015 10,000 3.52 Feb15 Dec15 10,000 2.93 Mar15 - Dec15 10,000 3.00 Mar15 Dec15 5,000 2.97 July15 -…
  22. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 22
    Appendix 2 Adjusted EBITDA Reconciliation ( in thousands) 2010 2011 2012 2013 2014 Net Income (Loss) available to common stockholders 41,987 5,409 (137,218) 8,943 26,051 Income tax expense (benefit) 1,630 (1,810) 1,636 320…
  23. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 23
    Appendix 3 - Discretionary Cash Flow Reconciliation ( in thousands) 2011 2012 2013 2014 Net income (loss) 10,548 (132,079) 14,082 31,190 Reconciling items: Income tax expense (benefit) (1,810) 1,636 320 (2,941) Depreciation,…
  24. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 24
    Appendix 4 Gulf Coast/GOM Free Cash Flow Reconciliation ( in thousands) 2007 2008 2009 2010 2011 2012 2013 2014 Revenues 197,453 198,949 86,880 100,618 86,371 61,788 100,049 121,859 Lease Operating Expense (18,483) ( 25,091)…
  25. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 25
    Appendix 5 Woodford Dry Gas Hoss Field Joint Venture Economic Assumptions Hoss Joint Venture Agreement 38 dry gas wells included in new joint venture JV Terms (1), (2) JV provides extremely beneficial cost sharing provisions for EUR…
  26. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 26
    Appendix 6 - La Cantera Development Lower Cris R-1 200 feet of potential pay Lower Cris R-2, Lobe A 34,000 MCF/D + 700 Bbls of oil (CURRENTLY PRODUCING) Lower Cris R-2, Lobe B 4,000 MCF/D + 100 Bbls of oil (CURRENTLY…
  27. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 27
    Appendix 7 - Panola County Cotton Valley Room to Run Legend Cotton Valley Wells PQ CV Vertical Wells PQ CV Horizontal Wells PQ Area Carthage Field Area of Mutual 4.4 TCF of Interest Unrisked Resource Potential 2.2 Tcfe…
  28. INVESTOR PRESENTATION – Petroquest Energy Inc. – slide 28
    Appendix 8 - PQ Operated Gulf Coast Drilling Summary Recent Projects First Prospect NRI Production Feet of Pay I.P. Rate Thibodeaux 1(La Cantera Prospect) 15% March 12 248 Net TVD 36,000 Mcfe Broussard Estates 2 (La Cantera Prospect)…

From the store

Browse maps, data & reports in the Shale Experts store