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Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc

Energy XXI Gulf Coast, Inc · Feb 26, 2015 · 20 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. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 1
    Investor Presentation Credit Suisse Energy Summit February 24-26, 2015 NASDAQ: EXXI www.energyxxi.com 1/6/2015
  2. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 2
    Company Snapshot Operate 96% of proved reserves Infrastructure in place to accommodate future growth One of the largest 3D seismic Current Metrics database augmented by new high Enterprise Value 4.3 Billion resolution WAZ and…
  3. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 3
    Current Plan Scale back capital development drilling Continue to reduce operating costs Focus on optimizing base production Higher capital efficiency programs de-risk uplift production Pursuing asset monetization: Non-core E&P…
  4. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 4
    Reduced Costs Drive Lower Maintenance Capex Current FY 15 Budget Estimated Maintenance Capex 680 MM 350 - 400 MM Exploration P&A 44 53 P&A Land 82 Seismic & Other 16 Land Seismic & Facilities Other 21 Development &…
  5. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 5
    Targeted Development Drilling Fiscal Years 2013-2015 Annual Estimated (Annual Average 346MM) Maintenance CAPEX Reservoir Extension 28MM Low-Risk Development Low-Risk Development Drilling Focus Drilling 246MM 260-290MM…
  6. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 6
    Fiscal 2Q Lower Costs & Volumes In-line Second-Quarter Volume Projections Net Production (per day) Oil (Bbls) FY15 second-quarter (including NGLs) 41,000 41,800 45,000 liquids grew 7% over prior year quarter Boe as a percentage of 57k…
  7. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 7
    Production Optimization on Schedule Oil to GI Gas to GI Add compressor to flow gas cap on three shut- Water to GI in wells to increase production by 10 MMCF/d WD 30 Scheduled completion 3Q FY15 not processed at WD 73 A Gas to…
  8. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 8
    Base Production Optimization South Pass 49: Non-rig hydraulic workover program 8000 HWO 3 Gross BOE/d HWO 2 6000 4000 Steady Decline HWO 1 2000 0 Feb-10 Aug-10 Feb-11 Aug-11 Feb-12 Aug-12 Feb-13 Aug-13 West Delta 30:…
  9. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 9
    Focus on Capital Efficient Recompletions Recompletion Test Test Jan. 15, 2015 Low capital exposure per project 363 BOPD 105 BWPD Current recompletion program 416 MCFD 0 Injection showing positive results There are more than 200…
  10. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 10
    Multi-Year Inventory in Core Areas 2015 2016 2017 2018 2019+ NAOS* SIRIUS* DON LINO NORTH BOGOTA W-37ST1 ALIADOS VINIDICATOR DUAL BRASILIA ONYX ATTIC= ASHTON 2= EXCALIBUR GLENLOSSIE* INDIOS* B-14 ST= STARDUST B-1 UPDIP= B-18 ST=…
  11. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 11
    Resource Potential in Core Fields Total Gross Un-risked Resource Potential 2+ Billion BOE Potential by Play Potential by Field West Delta 30 98 MMBOE EPL Potential EPL Potential 300 MMBOE Deep Miocene 300 MMBOE South Pass 49…
  12. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 12
    Activity in the Gulf and Seismic Footprint Adopting Best Seismic Technology (FAN) State of the art seismic acquisition and processing Superior imaging and fidelity De-risks drilling inventory Ideal for field redevelopment and deeper…
  13. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 13
    Potential Monetization of Midstream Assets Grand Isle Station WD 30J GI 22L WD 73 ST 54G MC 268 SP 93A MC 280A Grand Isle Terminal Aerial MC 397A 14
  14. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 14
    Non-Core Divestiture Update Combined EXXI + M21K GoM Divestiture Geographically diverse across GoM Shelf EXXI EXXI Divest M21K Divestiture Highlights Prospective Buyers 16-17 Mboe/d net (6-7 Mboe/d EXXI net production)…
  15. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 15
    Crude Hedge Profile 35 30 25 WTI Collar* 20 LLS 3-Ways* MBbl/d LLS Collar 15 WTI Collar 10 WTI Put 5 0 Feb-Mar15 Apr-Dec15 Cal16 Feb Mar 15 Apr Dec 15 Cal 16 Subfloor Floor Ceiling Subfloor Floor Ceiling Subfloor…
  16. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 16
    Highlander Discovery 75 Mmcf/d Test Highlander Discovery 60 miles Source: Freeport-McMoRan 17
  17. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 17
    New Projections for 3Q and FY15 FY 2015 Volume Projections 2Q FY15 3Q FY15 FY 2015 Actuals Net Production (per day) Oil (Bbls) 41,800 41,000 44,000 41,000 44,000 including NGLs Boe 57,900 58,000 62,000 57,000 61,000 % Oil…
  18. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 18
    Building a More Effective Energy XXI Strategic plans to develop our assets Asset Scorecards to drive detailed Development analysis, corrective action and Plans ownership of results (ADPs) Capture and categorize our Portfolio…
  19. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 19
    FY2015 Focus Areas Operate within cash flow Lower cost structure Reduce downtime Improve capital efficiencies Asset monetization 20
  20. Credit Suisse 20th Annual Energy Summit – Energy XXI Gulf Coast, Inc – slide 20
    Contact Greg Smith Kim Pinyopusarerk Vice President, Investor Relations Investor Relations Manager Energy XXI Energy XXI 1021 Main Street, Suite 2626 1021 Main Street, Suite 2626 Houston, Texas 77002 Houston, Texas 77002 713.351.3028…

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