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4Q 2013 Earnings Call – Swift Energy Co.

Swift Energy Co. · Feb 27, 2014 · 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. 4Q 2013 Earnings Call – Swift Energy Co. – slide 1
    4Q 2013 Earnings Call February 27, 2014 1
  2. 4Q 2013 Earnings Call – Swift Energy Co. – slide 2
    Opening Remarks 10-10-10 plan review Increased IPs and EURs by 10% Reduced drilling and completion costs by 10% High-graded assets Announced Central Louisiana divestment Advanced technology boosted the performance of newer wells…
  3. 4Q 2013 Earnings Call – Swift Energy Co. – slide 3
    Fourth Quarter 2013 Financial Update Oil and gas sales of 146 million Oil revenue accounted for 66% of sales revenue for the quarter 74 million pre-tax ceiling test write-down 48 million after-tax ceiling test write-down / 1.09 per…
  4. 4Q 2013 Earnings Call – Swift Energy Co. – slide 4
    Fourth Quarter Operations Update Production 3.09 MBoe Near top of expected range 10 operated wells drilled during 4Q 7 in McMullen County, 3 in Webb County Southeast Louisiana Production 4,904 Boe/d 3% increase from third quarter…
  5. 4Q 2013 Earnings Call – Swift Energy Co. – slide 5
    2012 Model** vs. Average 2013 IPs (Boepd)* 2012 2013 Actuals 3,000 +62% 2,500 2,547 2,000 MBoe 1,500 1,568 +33% +44% 1,000 1,173 1,153 880 800 500 - AWP Oil (McMullen) Artesia Oil & Cond. Fasken Gas (Webb)…
  6. 4Q 2013 Earnings Call – Swift Energy Co. – slide 6
    2012 EUR Model** vs. New EUR Model* (MBoe) 2012 2013 2,500 2,000 +85% 2,000 1,500 MBoe 1,000 1,083 950 -34% 500 +7% 627 381 407 - AWP Oil (McMullen) Artesia Oil & Cond. Fasken Gas (Webb) Condensate (LaSalle) *EURs…
  7. 4Q 2013 Earnings Call – Swift Energy Co. – slide 7
    Wellbore Placement Critical for Success Excellent Poor Target Interval LEF Fair Seismic data displayed in this presentation is owned or controlled by Global Geophysical; interpretation is that of Swift Energy Company Buda…
  8. 4Q 2013 Earnings Call – Swift Energy Co. – slide 8
    Drilling Technologies - Eagle Ford Drilling Well Cost Strengths 5.0 2012 2013 Current Technical Limits Target and goal setting PCQ - 2.6 MM drive efficiencies 4.5 Fasken- 2.4 MM SMR - 2.5 MM 4.0 Enhanced BHA designs and…
  9. 4Q 2013 Earnings Call – Swift Energy Co. – slide 9
    Drilling Technologies - Eagle Ford Drilling Days Advancements 40 2012 2013 Current Technical Limits Increase drilling rate by PCQ - 20 days coupling lower mud 35 Fasken - 18 days SMR - 20 days weight with pressure 30 management…
  10. 4Q 2013 Earnings Call – Swift Energy Co. – slide 10
    Texas Average Completion Cost / Stage Logging horizontal Cost/Stage Total Proppant lbs/Well laterals allows Number of Stages/Well selective stimulation 7.6 of the highest quality 339K MM rock 19 Grouping clusters 260K 16 within…
  11. 4Q 2013 Earnings Call – Swift Energy Co. – slide 11
    Fasken Eagle Ford Outstanding Reservoir Rock Porosity TOC Thickness Favorable rock property combination yields: 12 - 20 MM/D IP (90 Day Avg.) 10 15 Bcf EUR 12
  12. 4Q 2013 Earnings Call – Swift Energy Co. – slide 12
    Fasken BDC 10H Well IP 23 MMcf/d Calculated Gas Rate (Mscf/d) Flowing Casing Pressure (Psi) 100,000 10,000 7,000 Lateral, 21 Stages, 8.7 MM Lbs. Sand 1,000 12/1/2013 1/1/2014 13
  13. 4Q 2013 Earnings Call – Swift Energy Co. – slide 13
    Fasken AB 9H Well IP 17 MMcf/d Calculated Gas Rate (Mscf/d) Flowing Casing Pressure (Psi) 100,000 10,000 6,400 Lateral, 20 Stages, 8.5 MM Lbs. Sand 1,000 12/1/2013 1/1/2014 14
  14. 4Q 2013 Earnings Call – Swift Energy Co. – slide 14
    Artesia Retrograde Condensate Example Gas Rate (Mscf/d) Flowing Pressure (psig) Condensate Yield (bbl/MMscf) 10,000 Compression 1,000 100 10 Compression drops Reservoir pressure further and more liquid dropout occurs…
  15. 4Q 2013 Earnings Call – Swift Energy Co. – slide 15
    Lake Washington Base Production 14,000 12,000 2011 40% Decline 10,000 Boepd 8,000 6,000 4,000 2,000 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 14,000 12,000 2012 38% Decline 10,000 Boepd 8,000 6,000 4,000…
  16. 4Q 2013 Earnings Call – Swift Energy Co. – slide 16
    Lake Washington Maximum Flooding Surface and Inversion at Work 17
  17. 4Q 2013 Earnings Call – Swift Energy Co. – slide 17
    Lake Washington Drilling Prospects North Flank All Depths 74 Prospects 25 to 30 MMBoe Potential West Flank East Flank All Depths 32 Prospects - All AllDepths Depths 29 Prospects 29 Prospects 23 to 51 MMBoe Potential…
  18. 4Q 2013 Earnings Call – Swift Energy Co. – slide 18
    Lake Washington Cap Rock 1300 Initial Development 1931 - 1952 2nd Phase Development 1952 - 1979 Remaining Potential 3 - 7 MMBoe Lowest Known 420 Ac 19
  19. 4Q 2013 Earnings Call – Swift Energy Co. – slide 19
    SFY Reserves Reconciliation YE 2013 vs. YE 2012 2012 PUD YE Total YE 2013 PUD YE Total YE Total YE Proved 2012 2012 Proved 2013 2013 2013 - YE Region Developed (MBoe) (MBoe) Developed (MBoe) (MBoe) 2012 (MBoe) Texas 52,079 104,582…
  20. 4Q 2013 Earnings Call – Swift Energy Co. – slide 20
    APPENDIX 21
  21. 4Q 2013 Earnings Call – Swift Energy Co. – slide 21
    Fasken Swift Leasehold Webb County Net Acres 8,302 Avg. Working Interest 100% Avg. Net Revenue Interest 80% Avg. Well Spacing 660' (114 acres) Remaining Drilling Locations 58 Well Economics (90/Bbl., 4.50 Mcf)* EURs (Bcf) 10 - 15 IP's…
  22. 4Q 2013 Earnings Call – Swift Energy Co. – slide 22
    AWP Eagle Ford Oil Swift Leasehold McMullen County Net Acres 15,984 Avg. Working Interest 95% Avg. Net Revenue Interest 72% Avg. Well Spacing 440' (50 acres) Remaining Drilling Locations 133 Well Economics (90/Bbl., 4.50 Mcf)* EURs…
  23. 4Q 2013 Earnings Call – Swift Energy Co. – slide 23
    AWP Eagle Ford Condensate Swift Leasehold McMullen County Net Acres 2,850 Avg. Working Interest 50% Avg. Net Revenue Interest 38% Avg. Well Spacing 660' (60 acres) Remaining Drilling Locations 32 Well Economics (90/Bbl., 4.50 Mcf)*…
  24. 4Q 2013 Earnings Call – Swift Energy Co. – slide 24
    AWP Eagle Ford Gas Swift Leasehold McMullen County Net Acres 5,500 Avg. Working Interest 50% Avg. Net Revenue Interest 38% Avg. Well Spacing 660' (80 acres) Remaining Drilling Locations 50 Well Economics (90/Bbl., 4.50 Mcf)* EURs (Bcf)…
  25. 4Q 2013 Earnings Call – Swift Energy Co. – slide 25
    Artesia Eagle Ford Oil Swift Leasehold LaSalle County Net Acres 4,468 Avg. Working Interest 100% Avg. Net Revenue Interest 75% Avg. Well Spacing 440' (50 acres) Remaining Drilling Locations 41 Well Economics (90/Bbl., 4.50/Mcf)* EURs…
  26. 4Q 2013 Earnings Call – Swift Energy Co. – slide 26
    Artesia Eagle Ford Condensate Swift Leasehold LaSalle County Net Acres 5,027 Avg. Working Interest 100% Avg. Net Revenue Interest 75% Avg. Well Spacing 440' (50 acres) Remaining Drilling Locations 41 Well Economics (90/Bbl., 4.50/Mcf)…
  27. 4Q 2013 Earnings Call – Swift Energy Co. – slide 27
    4Q 2013 Earnings Call February 27, 2014 28

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