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GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp

Halcon Resources Corp · Jan 8, 2013 · 47 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. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 1
    Goldman Sachs Global Energy Conference January 8, 2013 1
  2. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 2
    Halcn Today Entering a high-growth phase for production, reserves and cash flow Focused on core liquids-rich resource plays Simple capital structure with long-term focus Sufficient liquidity to execute on growth initiatives…
  3. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 3
    Core Plays Established Liquids-Rich Asset Base Significant Drilling Inventory Undisclosed Exploratory and Other Plays Not Shown Bakken/Three Forks Utica/Point Pleasant Woodbine/Eagle Ford PF Total Proved Reserves: 115.2…
  4. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 4
    Expect Substantial Growth via the Drill-Bit 50,000 Avg. Net Daily Prod. (SEC Basis) 42,500 40,000 30,000 Mboe 20,000 18,500 85% 10,000 Liquids 0 1Q12 2Q12 3Q12 4Q12E 2013E Oil NGLs Gas 50,000 Avg. Net Daily Prod. (PF…
  5. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 5
    Bakken/Three Forks Asset Overview Planned Activities 130,000 net acres Focus on Fort Berthold area 81% operated Implement identified operational Avg. WI in acreage: 72% improvements Avg. WI in operated wells: 53% 5-7 operated rigs…
  6. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 6
    Bakken/Three Forks Land Overview Lease Expirations By Year 120,000 100,000 16% 7% 1% 80,000 1% Net Acres 60,000 40,000 75% 20,000 0 2013 2014 2015 2016-2020 HBP 75% of acreage HBP = flexibility to focus on…
  7. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 7
    Bakken/Three Forks Competitive Landscape Renville Divide Burke Sheridan Ward…
  8. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 8
    HK Operated Bakken Activity/Gross Isopach Marmon New Home II E. Montana Fort Berthold Halcn Operated Drilling Well WOC Producer 10
  9. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 9
    HK Operated Three Forks Activity/Gross Isopach New Home II Marmon E. Montana Fort Berthold Halcn Operated Drilling Well WOC Producer 11
  10. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 10
    Bakken/Three Forks Well Performance Fort Berthold - Antelope 12
  11. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 11
    Bakken/Three Forks Well Performance Fort Berthold - McGregory Buttes 13
  12. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 12
    Bakken Well Performance New Home II/E. Montana 14
  13. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 13
    Bakken/Three Forks Well Performance Marmon 15
  14. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 14
    Woodbine/Eagle Ford Asset Overview Planned Activities 210,000 net acres Focus on Woodbine North and 100% operated Eagle Ford West acreage Avg. WI in wells: 91% Continue de-risking acreage in Avg. NRI: 69% South and East PF 3Q12…
  15. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 15
    Woodbine/Eagle Ford Land Overview Lease Expirations By Year 140,000 4% 4% 5% 120,000 100,000 24% Net Acres 80,000 57% 6% 60,000 40,000 20,000 0 2013 2014 2015 2016 2017 HBP 2013 2014 2015 2016 2017 HBP No…
  16. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 16
    Woodbine/Eagle Ford Competitive Landscape 18
  17. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 17
    Gross Woodbine A Sandstone Isopach Leon/Madison Counties, TX Halcn Resources Acreage 19 Note: Hotter colors, thick, up to 100; Cooler colors, thin, less than 5.
  18. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 18
    Woodbine North Well Performance Leon County, TX 20 Note: Data excludes wells with mechanical issues and wells drilled with wrong orientation by prior operators.
  19. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 19
    Woodbine Horizontal Drilling Improvements Leon County, TX 14,190' 676' 37 Days 4 Days 2 Days 2 Days 8 Days 21 Days 1 Days 359' 3.5 Days 16.5 Days 13,277' Average Well Average Footage Depth Per Day (TMD) Prior…
  20. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 20
    Gross Woodbine A Sandstone Isopach Grimes County, TX Halcn Resources Acreage Active Horizontal Woodbine Sand Play 22
  21. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 21
    Utica/Point Pleasant Asset Overview Planned Activities 130,000 net acres 2-3 operated rigs in 2013 100% operated Expect to spud 20-25 gross Avg. WI in wells: 91% operated wells Avg. NRI: 74% 2013 D&C budget: 200 million First two…
  22. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 22
    Utica/Point Pleasant Land Overview Lease Expirations By Year 90,000 3% 80,000 70,000 37% 60,000 Net Acres 50,000 60% 40,000 30,000 20,000 10,000 0 2018-2020 2020-2022 HBP 2018-2020 2020-2022 HBP No near-term lease…
  23. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 23
    Utica/Point Pleasant Regional Overview OHIO PENNSYLVANIA PLAY STATISTICS AS OF 12.29.12: 64 Horizontal Wells Producing 183 Horizontal Wells Drilled 30 Horizontal Wells Currently Drilling 350 Horizontal Wells Permitted…
  24. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 24
    Utica/Point Pleasant Northern Sweet Spot OHIO PENNSYLVANIA HK PHILLIPS 1H Pilot hole cored Est. Frac: Jan 13 Range Resources Resting Period HK YODER 2H & HK BRUGLER 1H Shell Currently drilling Range Resources HK ALLAM 1H…
  25. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 25
    Introducing Halcn Field Services (HFS) Infrastructure Challenges = Opportunity Focused support of Halcn drilling operations Control time to market by installing, owning and operating midstream assets Comply with strict safety codes…
  26. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 26
    Woodbine/Eagle Ford Infrastructure - Early 2012 Infrastructure not suitable for development of unconventional resource base Strained gathering systems No scalable water solutions Northern acreage Limited rich gas takeaway…
  27. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 27
    Woodbine/Eagle Ford Infrastructure Update HFS System Overview System to handle gas, NGLs and produced water 50 miles of pipeline planned Gathering system to encompass full acreage position Processing plant expected to be…
  28. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 28
    Utica/Point Pleasant Infrastructure Update Existing infrastructure lacks scale, processing and takeaway capacity Several 3rd party providers actively implementing infrastructure solutions HFS Strategy: Leverage existing…
  29. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 29
    Pro Forma Capitalization and Liquidity Pro Forma Capitalization ( in millions) HK Williston Basin Assets HK PF Adjusted 9.30.2012 Adjustments 9.30.2012 Cash and Cash Equivalents 18.1 259.8 277.9 Revolving Credit Facility 185.0 0.0…
  30. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 30
    Derivative Summary PROTECT CASH FLOW Actively hedging with target to hedge up to 80% of expected production over next 18-24 months Avg. Floor Price 90.68 86.84 Avg. Floor Price 3.84 3.75 32
  31. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 31
    Halcn Investment Highlights Proven Management Team With Significant Ownership Stake Technical Bias With Extensive Resource Style Play Experience Attractive Liquids-Rich Asset Portfolio With Compelling Economics Positioned For…
  32. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 32
    Appendix
  33. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 33
    Pro Forma HK Ownership (in thousands) Basic Dilutive Securities Fully Diluted Net Diluted (3) Owner Shares Percent Conv. Debt (1) Warrants (2) Options Shares Percent Shares Percent HALRES LLC (4) - - 64,371 36,667 - 101,038 21%…
  34. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 34
    Pro Forma Production and Reserves Avg. Net Daily Production (Boe/d) (1) Proved Reserves (2) Variance Equiv. % Total PV10 (2) % Total 2Q12 3Q12 Oil MBbls Gas MMcf NGL MBbls % Oil/NGLs % PD Q/Q Mboe Reserves (MM) PV10 CORE RESOURCE…
  35. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 35
    Derivative Detail Oil Hedge Summary FY 2013 FY 2014 Volume Ceiling / Floor Volume Ceiling / Floor (1) (1) (1) (1) (Bbls) Swap Price Purchased Floor Sold (Bbls) Swap Price Purchased (1) Floor Sold (1) Three-Way Collars 251,075 100.60…
  36. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 36
    Bakken/Three Forks Fort Berthold - Antelope Type Curve (1st 24 Months) 500 600 400 500 Oil / NGL (Bbl/d) 400 Gas (Mcf/d) 300 300 200 200 100 100 0 0 1 4 7 10 13 16 19 22 (Months) B Oil (Bbl/d) TF Oil (Bbl/d) B Gas…
  37. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 37
    Bakken/Three Forks Fort Berthold McGregory Buttes Type Curve (1st 24 Months) 400 400 300 300 Oil / NGL (Bbl/d) Gas (Mcf/d) 200 200 100 100 0 0 1 4 7 10 13 16 19 22 (Months) B Oil (Bbl/d) TF Oil (Bbl/d) B Gas (Mcf/d)…
  38. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 38
    Bakken New Home II Type Curve (1st 24 Months) 400 400 300 300 Oil/NGL (Bbl/d) Gas (Mcf/d) 200 200 100 100 0 0 1 4 7 10 13 16 19 22 (Months) Oil (Bbl/d) NGL (Bbl/d) Gas (Mcf/d) Capital Costs / Well (MM) Gross…
  39. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 39
    Bakken E. Montana Type Curve (1st 24 Months) 400 400 300 300 Oil/NGL (Bbl/d) Gas (Mcf/d) 200 200 100 100 0 0 1 4 7 10 13 16 19 22 (Months) Oil (Bbl/d) NGL (Bbl/d) Gas (Mcf/d) Capital Costs / Well (MM) Gross…
  40. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 40
    Bakken/Three Forks Marmon Type Curve (1st 24 Months) 200 200 Oil / NGL (Bbl/d) Gas (Mcf/d) 100 100 0 0 1 4 7 10 13 16 19 22 (Months) B Oil (Bbl/d) TF Oil (Bbl/d) B Gas (Mcf/d) TF Gas (Mcf/d) Capital Costs / Well…
  41. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 41
    Woodbine North Leon County, TX Type Curve (1st 24 Months) 600 300 500 Oil/NGL (Bbl/d) 400 200 Gas (Mcf/d) 300 200 100 100 0 0 1 4 7 10 13 16 19 22 (Months) Oil (Bbl/d) NGL (Bbl/d) Gas (Mcf/d) Capital Costs /…
  42. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 42
    Utica/Point Pleasant Wet Gas Type Curve (1st 24 Months) 400 4,000 300 3,000 Oil/NGL (Bbl/d) Gas (Mcf/d) 200 2,000 100 1,000 0 0 1 4 7 10 13 16 19 22 (Months) Oil (Bbl/d) NGL (Bbl/d) Gas (Mcf/d) Capital Costs /…
  43. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 43
    Utica/Point Pleasant (1) Transitional Type Curve (1st 24 Months) 300 3,000 Oil/NGL (Bbl/d) 200 2,000 Gas (Mcf/d) 100 1,000 0 0 1 4 7 10 13 16 19 22 (Months) Oil (Bbl/d) NGL (Bbl/d) Gas (Mcf/d) Capital Costs / Well…
  44. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 44
    Utica/Point Pleasant Black Oil Type Curve (1st 24 Months) 500 500 400 400 Oil/NGL (Bbl/d) Gas (Mcf/d) 300 300 200 200 100 100 0 0 1 4 7 10 13 16 19 22 (Months) Oil (Bbl/d) NGL (Bbl/d) Gas (Mcf/d) Capital Costs /…
  45. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 45
    Halcn 3Q12 Net Realized Price as % of NYMEX Net Realized Oil Prices (% of NYMEX) 3Q '12 Avg. Basin Bakken/Three Forks 86.0% Eagle Ford 102.8% Mississippi Lime 98.4% Woodbine/Eagle Ford 105.9% Other - Conventional 99.8% Net…
  46. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 46
    Halcn History Recapitalized RAM Energy Resources, Inc.(1) Closed the Williston Basin Assets acquisition Funded with 550 million investment by EnCap, Funded with 756 million of cash and Liberty Energy Holdings, Mansefeldt Investment…
  47. GOLDMAN SACHS GLOBAL ENERGY CONFERENC – Halcon Resources Corp – slide 47
    Contact: Scott M. Zuehlke, VP Investor Relations 1000 Louisiana St., Suite 6700 Houston, TX 77002 832-538-0314 szuehlkehalconresources.com www.halconresources.com 50

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