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CORPORATE PRESENTATION – Swift Energy Co.

Swift Energy Co. · Aug 17, 2011 · 37 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. CORPORATE PRESENTATION – Swift Energy Co. – slide 1
    Corporate Presentation August, 2011
  2. CORPORATE PRESENTATION – Swift Energy Co. – slide 2
    Todays Agenda Strategic Overview Operational Overview South Texas Southeast Louisiana Central Louisiana/East Texas Financial Overview 3
  3. CORPORATE PRESENTATION – Swift Energy Co. – slide 3
    Corporate Overview Balanced and focused asset base 4 core areas along U.S. Gulf Coast Balanced, long-lived property base with 15.9 R/P Diversified production across commodities Low risk development and high reward exploration…
  4. CORPORATE PRESENTATION – Swift Energy Co. – slide 4
    Corporate Strategy Tandem approach: drilling & acquisitions Technology led focus Repeatable method of operations Focus on multiple horizons and large acreage positions Exploitation with exploration upside Reduce operating risk…
  5. CORPORATE PRESENTATION – Swift Energy Co. – slide 5
    Competitive Advantages Application of advanced technologies Strong asset base 15.9 year R/P ratio Diverse inventory of projects in core areas Over 4,000 square miles of merged 3-D seismic in South Louisiana and 800 square miles in…
  6. CORPORATE PRESENTATION – Swift Energy Co. – slide 6
    Operational Overview
  7. CORPORATE PRESENTATION – Swift Energy Co. – slide 7
    Core Areas - Production & Reserves (MMBoe) Central Louisiana/East Texas Area 2010 Production: 0.7 2010 Proved Reserves: 20.9 South Texas Area Louisiana 2010 Production: 3.2 2010 Proved Reserves: 76.6 Texas South Louisiana…
  8. CORPORATE PRESENTATION – Swift Energy Co. – slide 8
    Todays Focus South Texas Eagle Ford Shale Multiple year horizontal development potential Oil, High GOR Oil and Dry Gas (high quality reservoir) AWP Olmos Tight Sand Multiple year horizontal development potential Rich Gas…
  9. CORPORATE PRESENTATION – Swift Energy Co. – slide 9
    South Texas
  10. CORPORATE PRESENTATION – Swift Energy Co. – slide 10
    South Texas Eagle Ford Shale Boe/d Production Profile* 25,000 79,000 Net Acres Prospective for Eagle Ford 20,000 1000 Eagle Ford Shale Drilling 15,000 Locations Assuming 80 Acre 10,000 Spacing 5,000 Eagle Ford Oil 24,000 Acres…
  11. CORPORATE PRESENTATION – Swift Energy Co. – slide 11
    South Texas Resource Base Swift owns 79,000 net Swift owns 40,000 acres prospective for net acres prospective Eagle Ford for horizontal Olmos 1,000 locations assuming development 80 acre well spacing 250 locations assuming 5 Bcfe…
  12. CORPORATE PRESENTATION – Swift Energy Co. – slide 12
    AWP Production - % Liquids Olmos Eagle Ford Total 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% 1st qtr 2nd qtr 3rd qtr 4th qtr 1st qtr 2nd qtr 2010 2011 13
  13. CORPORATE PRESENTATION – Swift Energy Co. – slide 13
    Southeast Louisiana
  14. CORPORATE PRESENTATION – Swift Energy Co. – slide 14
    Southeast Louisiana Lake Washington BOE/d Production Profile* 12,500 70+ productive sands 10,000 Multi-year recompletion inventory High return production optimization 7,500 program 5,000 Crude oil production benefits from…
  15. CORPORATE PRESENTATION – Swift Energy Co. – slide 15
    Recompletion Potential Recompletions 28 Identified Recompletions 18 Identified Recompletions 24 Identified 16
  16. CORPORATE PRESENTATION – Swift Energy Co. – slide 16
    2011 Drilling Activity North LW Li/CC 57 MMBOE Produced Northeast Potential 1 5 MMBOE Newport 9 MMBOE Produced East LW Leads Potential, 2 25 MMBOE Westside Potential 2 25 MMBOE Jelly Bowl Area Potential 1 10 MMBOE Jelly…
  17. CORPORATE PRESENTATION – Swift Energy Co. – slide 17
    Central Louisiana & East Texas
  18. CORPORATE PRESENTATION – Swift Energy Co. – slide 18
    Central Louisiana / East Texas Austin Chalk BOE/d Production Profile* 59,000 net acres in Burr Ferry area 5,000 Two high rate JV well tests in 2010 4,000 Two wells currently drilling 29,500 net acres in Masters Creek 3,000 One…
  19. CORPORATE PRESENTATION – Swift Energy Co. – slide 19
    CLAETX Orientation Map GASRS 18-1 Brookeland IP 10.2 MMcf/d 840 bbl/d 2010 Wells To be Masters Creek tested in 2010 Wells Burr Ferry 2011 2011 Well GASRS 5-1 IP 13.0 2011/2012 MMcf/d 2011 Wells Well 1,000 bbl/d 20
  20. CORPORATE PRESENTATION – Swift Energy Co. – slide 20
    Financial Overview
  21. CORPORATE PRESENTATION – Swift Energy Co. – slide 21
    Capitalization in Millions in Millions As of As of Dec. 31, 2010 June. 30, 2011 Cash 86 7% 32 2% Bank Borrowings -- 0% -- 0% 71/8% Sr Notes due 2017 250 20% 250 18% 87/8% Sr Notes due 2020 222 17% 222 16% Net Debt 386 30% 440 32%…
  22. CORPORATE PRESENTATION – Swift Energy Co. – slide 22
    2011 Capital Expenditure Budget Historical Spending Net Spending by Activity MM 430 MM-480 MM** 800 Development* Exploration Prospect Facilities Prospect Acquisition Costs/Seismic 700 Discretionary 600 Exploration/ 500…
  23. CORPORATE PRESENTATION – Swift Energy Co. – slide 23
    Summary
  24. CORPORATE PRESENTATION – Swift Energy Co. – slide 24
    Portfolio Potential 3 Key Areas South Texas: Eagle Ford Shale Development 79,000 net acres of resource potential 5 Bcfe EUR per dry gas well 350 MBoe EUR per liquids rich well (6,000 laterals) 1.9 3.3 Tcfe (310 550 MMBoe) of…
  25. CORPORATE PRESENTATION – Swift Energy Co. – slide 25
    Portfolio Potential 3 Key Areas (cont.) Southeast Louisiana: Lake Washington/Bay de Chene Development, Extension & Exploration of Miocene Sands 21.2 MMBoe booked reserves, 54% Developed Rich inventory of development and exploration…
  26. CORPORATE PRESENTATION – Swift Energy Co. – slide 26
    Key Investment Highlights Extensive operational experience supported by world-class technology Balanced and focused asset base Significant resource within legacy asset base Two proven resource plays in development phase Strong…
  27. CORPORATE PRESENTATION – Swift Energy Co. – slide 27
    Appendix
  28. CORPORATE PRESENTATION – Swift Energy Co. – slide 28
    The Resource Factory SM Evaluation & Data Capture Manufacturing Calibration Appraisal & & Commercial Efficiency Re-Calibration Capture Capture Development & Optimization Capture 29
  29. CORPORATE PRESENTATION – Swift Energy Co. – slide 29
    Approximate Reserve Component by Model Eagle Ford Oil Olmos Rich Gas / Condensate (20% of Acreage) (34% of Acreage) 30% 7% Oil Oil Dry Gas 8% 16% Dry Gas 77% NGL 63% NGL Eagle Ford High GOR Oil Eagle Ford Dry Gas (17% of…
  30. CORPORATE PRESENTATION – Swift Energy Co. – slide 30
    Eagle Ford Oil Model: Per Well Economics Reserve Components 4,000' 6,000' Oil Dry Gas NGL Model Model 7% Per Well Cost (MM) 7.0 9.0 EUR (Mboe) 252 354 16% 77% IP (Boe/d) 1,100 1,572 ROR (%) 64 74 NPV 10% (MM) 3.9 6.0 Flat…
  31. CORPORATE PRESENTATION – Swift Energy Co. – slide 31
    Eagle Ford High GOR Oil Model: Per Well Economics Reserve Components Oil Dry Gas NGL 4,000' 6,000' Model Model 17% Per Well Cost (MM) 7.0 9.0 EUR (MBoe) 377 524 IP (Boe/d) 983 1,405 35% 48% ROR (%) 61 69 NPV 10% (MM) 5.0 7.2…
  32. CORPORATE PRESENTATION – Swift Energy Co. – slide 32
    Eagle Ford Dry Gas Model: Per Well Economics Reserve Components 4,000' 6,000' Dry Gas Model Model Per Well Cost (MM) 7.0 9.0 EUR (Bcf) 5.0 7.0 IP (MMcf/d) 9.2 12.8 100% ROR (%) 5/ Mcf 45 82 NPV 10% (MM) 5/ Mcf 3.2 5.5 ROR (%)…
  33. CORPORATE PRESENTATION – Swift Energy Co. – slide 33
    Olmos Rich Gas/Condensate Model: Per Well Economics Reserve Components Oil Dry Gas NGL 4,000' 6,000' 30% Model Model Per Well Cost (MM) 7.0 9.0 8% EUR (Bcfe) 3.3 4.7 IP (MMcf/d) 5.5 7.8 63% ROR (%) 55 74 NPV 10% (MM) 4.5 7.3…
  34. CORPORATE PRESENTATION – Swift Energy Co. – slide 34
    Rate of Return Sensitivities: Per 6,000 Lateral 90 / 5.00 80 / 4.00 70 / 3.00 EF Dry Gas 82% 28% 4% OL Rich Gas 74% 44% 23% EF High GOR Oil 69% 46% 28% EF Oil 74% 49% 29% Oil Well Average Op Costs / Month: 9,000 Gas Well Average…
  35. CORPORATE PRESENTATION – Swift Energy Co. – slide 35
    SELA Development Economics Capital NPV Activity (MM) Oil (Mbbl) (MM) IRR ROI Recompletions 0.5 1.0 30 - 120 1-3 100 2.5 10.0 Shallow Wells 2.5 - 4 250 1,200 2 - 10 75 - 100 2.0 3.0 Extension Wells 4-8 500 5,000 5 - 25 75 - 100 2.0…
  36. CORPORATE PRESENTATION – Swift Energy Co. – slide 36
    Burr Ferry 59,000 Net Acres 65 Percent Oil and NGLs Additional 40 well Infill Program GASRS 18-1 Location Basinward of Sligo Reef Single laterals, GASRS 5-1 Location shallow build angles 37
  37. CORPORATE PRESENTATION – Swift Energy Co. – slide 37
    Burr Ferry Per Well Economics With Fee Minerals Without Fee Minerals Gross Well Cost (MM) 7 Gross Well Cost (MM) 7 Gross Oil Reserves (MBbl) 407 Gross Oil Reserves (MBbl) 407 Gross Gas Reserves (Bcf) 2.7 Gross Gas Reserves (Bcf)…

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