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ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc

Chaparral Energy, Inc · Jun 2, 2014 · 44 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. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 1
    Royal Bank of Canada Finance Conference June 2014
  2. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 2
    Company Representatives Mark Fischer Chief Executive Officer Earl Reynolds President & Chief Operating Officer Joe Evans Chief Financial Officer Melinda Merideth Corporate Finance Manager 2
  3. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 3
    Chaparral: Overview
  4. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 4
    2014 Highlights Q1 production volume increase of 16% year over year to 28,793 MBoe per day Q1 2014 Production by Record EBITDA of 110.8 million in Q1 Product Q1 capital expenditures of 155.6 million 12% Exceptional operational…
  5. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 5
    Ark-La-Tex Sale Update Sale properties split into five packages Closed sales of first two packages Divestiture Properties: 2013 YE Proved Reserves 22 mmboe (42% Liquids) Sale of Ft. Worth Basin properties to 2014 Production 4.2…
  6. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 6
    BOPD 1000 1500 2000 Jan13 Feb13 Mar13 Apr13 May13 Jun13 Jul13 Aug13 Net Base Prod Sep13 Oct13 NBU Gross Production Nov13 Weekly Average Dec13 Jan14 Burbank Production Progress…
  7. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 7
    Strong Track Record of Growth Overview EBITDA (mm) Core Operating Area Mid-Continent Region 389 450 337 Key Plays NOMP, Panhandle Marmaton, 400 Woodford and EOR 288 313 350 Oil Focused (Reserves 68% oil / liquids) 300…
  8. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 8
    Mid-Continent Geographic Focus MidContinent Core: 2013 Proved Reserves 136 mmboe (72% Liquids) 2013 Production 22.2 mboepd (70% Liquids) 9
  9. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 9
    Why Mid-Continent The Next Untold Story Mid-Continent Advantages as Se ow Prolific hydrocarbon all Sh producing basin Numerous reservoirs with An ad ark stacked pay potential for oB horizontal drilling as in Am…
  10. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 10
    Midcontinent Focus The Next Untold Story Our Position 532,000 net surface acres Portfolio poised to deliver double digit growth Oil-rich portfolio with focus on high return, oil leveraged plays Significant inventory of repeatable…
  11. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 11
    Core Plays NOMP Marmaton Net Surface Acres: 210,982 Net Surface Acres: 128,225 Gross Drilling Locations: 2,088 Gross Drilling Locations: 1,124 Gross Operated Drilling Locations: 1,123 Gross Operated Drilling Locations: 768…
  12. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 12
    Stacked High Quality Oil Plays NOMP & Woodford Much of Chaparrals Mid-Continent acreage is located within a stacked pay environment Total Stacked Net Acres 343,319 Acres (1) NOMP 119,224 Prospective Acres Woodford 118,095…
  13. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 13
    Multiple Pay Zones in the Mid-Continent Industry Horizontal Drilling Targets 14
  14. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 14
    Horizontal Drilling Inventory and Play Resource Potential Inventory Life (NOMP and Panhandle Marmaton Oil Rich) Number of Rigs 10 15 20 Inventory Life (Years) 23 15 11 Oil Rich (2) Gas Rich (2) Total (2) Play Net Gross…
  15. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 15
    Expected Returns in our Core Areas Play IRRs (1) 80% 70% 60% 50% 40% 30% 20% 10% 0% (1) Obtained from Credit Suisse Research and Analytics using futures strip as of 6/17/2013 (2) Management Type Curve 25,000 Gross Unrisked…
  16. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 16
    Over 1 BBOE - Reserve and Inventory Upside Potential 1200 145 1,019 1000 193 800 81 MMboe 241 600 400 223 200 158 (22) 0 2013 Proved Planned NOMP/ Woodford Marmaton EOR Other Total Reserves Divestiture…
  17. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 17
    NOMP Resource Potential
  18. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 18
    Northern Oklahoma Mississippi Play (NOMP) Overview NOMP Asset Map 242,983 net acres including the Meramec Shale Principally carbonate in north, and develops into carbonate/shale sequence as the play moves south Multiple…
  19. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 19
    NOMP Carbonate Economics NOMP TYPE CURVES(1) EUR = 352 MBOE Type Curve Parameters 250 1400 OIL BOPD EUR: 352 Mboe 1200 200 Oil %: 4050% GAS MCFD 1000 D&C cost: 3.3 3.7 million 150 BOPD MCFD 800 Oil 600 100 EUR: 154…
  20. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 20
    NOMP Well Performance NOMP Well Performance 2 1 OPERATOR WELL 30 DAY IP 6 12 9 3 1 CHAPARRAL GLADYS 3H-25 1,292 BOEPD 2 CHAPARRAL KUDU 1H-21 513 BOEPD 4 5 10 3 CHAPARRAL CENTIPEDE 1H-15 876 BOEPD 7 8 4 CHAPARRAL LEE…
  21. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 21
    NOMP 2013 and Q1 2014 Results 30 Day IP Rate (BOEPD) 10 10 9 600 8 513 8 7 7 500 7 Number of Wells 6 400 30Day IP Rate (BOEPD) Type Curve 5 300 4 3 3 200 2 100 1 0 0 < 200 200 - 350 350 - 500 500 -…
  22. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 22
    Improved NOMP Execution 79 80 70 59 60 49 49 50 42 40 43 38 Days 40 30 20 10 0 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Spud to Rig Release Rig Release to First Production 23
  23. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 23
    NOMP Growth Production (Boe) / Day Net Surface Acres 5,740 6,000 250 211 211 721 5,000 200 175 3,947 153 4,000 468 2,617 150 Boe/Day Net Acres (000) 3,000 1,714 100 2,000 1,490 584 2,402 50 1,000 1,765…
  24. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 24
    Panhandle Marmaton Resource Potential
  25. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 25
    Panhandle Marmaton Play Overview Marmaton Asset Map The Marmaton Play is another key oil resource consisting of multiple carbonate benches with ongoing TEXAS development BEAVER Largest operator in play 128,225 net acres…
  26. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 26
    Panhandle Marmaton Economics PANHANDLE MARMATON TYPE CURVES(1) EUR = 168 MBOE Type Curve Parameters 400 140 350 EUR: 168 Mboe OIL BOPD Oil %: 90% 120 300 GAS MCFD D&C cost: 3.3 3.7 million 100 250 MCFD BOPD Oil…
  27. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 27
    Panhandle Marmaton Well Performance Panhandle Marmaton Well Performance OPERATOR WELL 30 DAY IP CHAPARRAL NORA 49-1H 427 BOEPD TEXAS 3 4 BEAVER CHAPARRAL THOMAS 1HX-35 922 BOEPD 7 CHAPARRAL 4 RED CATTLE 1-23H 622 BOEPD 8 9…
  28. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 28
    Woodford Shale Play
  29. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 29
    Woodford Shale Play Overview Woodford Asset Map The Woodford Shale Play is a material resource play and provides significant upside The Woodford Shale Play consists of well defined productive regions 164,945 net acres…
  30. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 30
    Woodford Well Performance Woodford Well Performance 10 10 1111 OPERATOR WELL BEST 30 DAY IP 8 8 9 1 DEVON ROTHER 1-24H 1,404 BOEPD 9 12 4 2 DEVON BESSIE 6-2H 863 BOEPD 7 3 2 CENTRAL 3 21 4 CANA 7 1 3 CIMAREX DRAPER…
  31. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 31
    CO2 EOR is a Major Part of Chaparrals Growth Story
  32. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 32
    Chaparral is a Leader in the CO2 EOR Industry Chaparral is the third most active CO2-EOR operator in the U.S. 33
  33. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 33
    CO2 EOR Focused Areas Overview Panhandle Area Burkank CO2 Project Inventory Area 10 units with proved reserves 40 units with 1P, 2P & 3P EOR reserves CO2 Infrastructure 473 Miles 85 MMscf/D of existing CO2 supply 2014…
  34. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 34
    Proven Track Record of CO2 EOR Performance Field CO2 Production prior April 2014 Gross EOR Initiation to Injection Production (Bopd) Estimated (Bopd) Ultimate Recovery (Mmboe) Panhandle Area Camrick 2001 103 1,342 8.0 North…
  35. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 35
    Total EOR Uplift Growth 4,000 2,961 2,704 3,000 1,994 BOE/Day 2,000 1,217 1,000 - 2011 2012 2013 Q1 2014 36
  36. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 36
    North Burbank CO2 EOR Development
  37. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 37
    Burbank Area Overview North Burbank Overview Burbank Area Asset Map Chaparrals North Burbank unit is its largest EOR field CO2 injection started in June 2013 Oklahomas largest unit with over 820 Mmbo OOIP and 320Mmbo…
  38. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 38
    North Burbank CO2-EOR Flood 1,000,000 1,000,000 Primary Development 100,000 100,000 Secondary Development Tertiary Development Gross Boe/D 10,000 10,000 Waterflood CO2 EOR +14000 1,000 1,000 100 100 Jan20…
  39. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 39
    Financial Overview
  40. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 40
    Financial Metrics per BOE Production (Boe) / Day LOE / Boe 35,000 28,793 29,000 24,914 26,691 16.00 30,000 23,713 3,486 14.00 25,000 3,729 8,179 12.00 Boe/day 20,000 9,033 9,580 10.00 /BOE 9,882 9,247 8.00 14.36…
  41. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 41
    Financial Flexibility to Execute Strategy Current Maturity Profile (mm) 600 No senior note maturities before 2020 500 325 400 Hedge positions in place to secure cash flow 400 300 in near term 300 550 200 400 329 300…
  42. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 42
    Capital Budget (mm) 2014 Capital Allocation 2014B Key Drilling Areas Capital (*) Wells Q1 2014 Allocation Component 2011 2012 2013 2014 Budget % NOMP 140 34-38 Drilling 172 239 269 85 376 59% Panhandle Marmaton 155 37-41 Woodford…
  43. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 43
    2014 Guidance Operating Statistics 2014 Guidance Capital Expenditures (MM) 625 - 650 Production (MMBoe) 10.4 - 10.8 General and Administrative 5.25 - 5.75/Boe Lease Operating Expense 13.00 -13.50/Boe 44
  44. ROYAL BANK OF CANADA FINANCE CONFERENCE – Chaparral Energy, Inc – slide 44
    Thank you 2014 Chaparral Energy

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