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IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp

Halcon Resources Corp · Apr 15, 2013 · 50 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. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 1
    IPAA OGIS New York Conference April 15, 2013 1
  2. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 2
    New East Texas Eagle Ford El Halcn Asset Overview Planned Activities 50,000 net acres (1) Focus on defining the play area 100% operated 1-3 operated rigs in 2013 Avg. WI in 13 operated wells: 90% Expect to spud 15-20 gross Avg. NRI…
  3. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 3
    HK El Halcn Lease Area HK Lease Area 5
  4. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 4
    El Halcn Activity Map HALCON BUMBLEBEE 1H CURRENTLY DRILLING PILOT EAGLE FORD CLAYTON WILLIAMS SCASTA 2H IP: 691 BOPD / 113 MCF EAGLE FORD HALCON COYOTE 1H 30-Day IP: 835 BOE/D EAGLE FORD CLAYTON WILLIAMS THOMAS E1 HALCON…
  5. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 5
    El Halcn Cross Section 7
  6. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 6
    El Halcn YTD 2013 Drilling Stats Brazos County, Texas YTD Results (3 wells): Avg. Drilling Days 17 days spud to TD Avg. Feet/Day 914 Avg. Lateral Length 7,265 2013 Drilling Highlights: Coyote 1H o Drilling Days 13 days spud to TD…
  7. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 7
    El Halcn Type Curve Detail Type Curve (1st 24 Months) 600 200 150 Oil/NGL (Bbl/d) 400 Gas (Mcf/d) 100 200 50 0 0 1 4 7 10 13 16 19 22 (Months) Oil (Bbl/d) NGL (Bbl/d) Gas (Mcf/d) Capital Costs / Well (MM)…
  8. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 8
    El Halcn Well Performance 10
  9. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 9
    Liquids-Rich Asset Base Other Exploratory Plays Not Shown Bakken/Three Forks 130,000 Net Acres Woodbine Utica/Point Pleasant 220,000 Net Acres 140,000 Net Acres Total Proved Reserves: 108.8 MMBoe Wilcox % Developed:…
  10. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 10
    Wilcox Asset Overview Planned Activities 110,000 net acres (1) Drill 4 wells by mid-year with one 100% operated operated rig Avg. WI in 13 operated wells: 85% Potential to spud additional wells Avg. NRI in 13 operated wells: 64% in…
  11. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 11
    Wilcox Activity Map Smartt 1 Lindsey 1 Indigo 3-1 Currently Drilling Columbia Land Stump 9-1 & Timber 9-1 Halcn Operated HK Locations HK Producing Wells (1) HK WOC/Completing HK Lease Area Columbia Land & Timber 9-1…
  12. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 12
    Wilcox Type Curve Detail High GOR Type Curve (1st 24 Months) 400 1,400 1,200 300 Oil/NGL (Bbl/d) 1,000 Gas (Mcf/d) 800 200 600 100 400 200 0 0 1 4 7 10 13 16 19 22 (Months) Oil (Bbl/d) NGL (Bbl/d) Gas (Mcf/d)…
  13. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 13
    Wilcox Type Curve Detail Low GOR Type Curve (1st 24 Months) 400 1,400 1,200 300 Oil/NGL (Bbl/d) 1,000 Gas (Mcf/d) 800 200 600 100 400 200 0 0 1 4 7 10 13 16 19 22 (Months) Oil (Bbl/d) NGL (Bbl/d) Gas (Mcf/d)…
  14. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 14
    Bakken/Three Forks Land Overview 130,000 Net Acres Lease Expirations By Year 12% 120,000 7% 100,000 2% 1% 80,000 Net Acres 60,000 40,000 20,000 0 77% 2013 2014 2015 2016-2021 HBP 75% of acreage HBP = flexibility…
  15. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 15
    Bakken/Three Forks Asset Overview Planned Activities 78% operated Focus on higher IRR areas Avg. WI in operated acreage: 73% Implement operational Avg. WI in 13 operated wells: 66% improvements Avg. NRI in 13 operated wells: 54% 6-8…
  16. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 16
    HK Bakken/Three Forks Position 18
  17. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 17
    Drilling Performance Initiatives Fort Berthold Current Initiatives Implement performance-driven culture Transition rig fleet to deliver batch drilling efficiencies Improve ROP in curve and lateral sections o Optimize motor/bit…
  18. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 18
    Batch Drilling Increases Well Efficiency Single Well Drill vs. 4 Well Batch Drill on Pad Site Efficiencies Single Well Drill 4 Well Batch Drill Time Costs Skid time between wells 7.5 Days Total 3.0 Days 4.5 Days 292,500 P/U and L/D…
  19. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 19
    Drilling Performance by Operator Fort Berthold AVERAGE DAYS - SPUD TO TD 21 Note: Offset operator data obtained from Baker Hughes Bit data; Petro-Hunt data from wells now owned by Halcn.
  20. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 20
    Completion Modifications Fort Berthold Marmon / New Home II Increase proppant/stage Hybrid fluid design Increase stage density Evaluate different technologies, e.g. SurgiFrac, Productivity Change fluid design slickwater, etc. Plug &…
  21. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 21
    Woodbine Land Overview 220,000 Net Acres Lease Expirations By Year 140,000 2% 3% 5% 4% 120,000 100,000 23% Net Acres 80,000 60,000 40,000 57% 6% 20,000 0 2013 2014 2015 2016 2017 2018 HBP 2013 2014 2015 2016 2017 2018…
  22. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 22
    Woodbine Asset Overview Planned Activities 100% operated Focus on acreage in Leon, N. Avg. WI in 13 operated wells: 94% Madison and W. Grimes Counties Avg. NRI in 13 operated wells: 72% 330 sq. mile 3D seismic shoot underway PF…
  23. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 23
    HK Woodbine Lease Area HK 3D Seismic Survey Underway 25
  24. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 24
    Halliday Field Hydrocarbon Pore Volume (HCPV) Leon County, TX Mamie Wakefield 1H 30 Day IP: 267 BOEPD Mamie Wakefield 3A 3H 30 Day IP: 228 BOEPD 67 development wells to drill Mamie Wakefield 1 2H over next 2 years 30 Day IP: 344…
  25. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 25
    Halliday Field Sand - HCPV Cross Section Leon County, TX A A Depth GR ResD DPHI Depth 0 150 0.2 200030 0 GR ResD DPHI 0 150 0.2 200030 0 Depth Depth Depth GR ResD DPHI GR ResD DPHI GR ResD DPHI 0 150 0.2 200030 0…
  26. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 26
    Halliday Field Drilling Stats YTD 2013 2013 Halliday Field YTD Results (13 wells) 30 900 25 800 Avg. Lateral Length 6,818 700 2013 Highlights: 20 600 500 Keeling-Bunyard 1H Ft/Day Days 15 o Drilling Days 14 days spud…
  27. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 27
    Utica/Point Pleasant Land Overview 140,000 Net Acres Lease Expirations By Year 3% 1% 1% 70,000 10% 60,000 44% 16% 50,000 Net Acres 40,000 30,000 20,000 10,000 25% 0 2013 2014 2015 2016-2020 2021 2022 HBP No…
  28. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 28
    Utica/Point Pleasant Asset Overview Planned Activities 100% operated Drill 10 wells by mid-year to Avg. WI in 13 operated wells: 94% delineate acreage Avg. NRI in 13 operated wells: 77% 6 wells to be tested by end of 2Q13 Expect…
  29. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 29
    Utica/Point Pleasant: Regional Overview Halcon Locations Producing Wells OHIO Drilled Wells Drilling Wells Permitted Wells Halcon Lease Area CHK ACTIVITY PENNSYLVANIA GPOR ACTIVITY UTICA PLAY STATISTICS AS OF 4.3.13:…
  30. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 30
    Utica/Point Pleasant: Northeast Extension Structure Top Trenton Point Pleasant Not Present Staab 1H Currently Fracing Range Resources BP Shell Range Resources Yoder 2H Phillips 1H Fracd & Soaking Testing Pilgrim 2-3H…
  31. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 31
    Utica/Point Pleasant Cross Section Indicator Map Line of Cross Section A A 33
  32. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 32
    Utica/Point Pleasant: Petrophysical Comparison Southwest Northeast A 136 miles A Red Hill Development Northwood Energy Eastern States O&G HK Atlas Resources HK HK HK Zechman Thomas Toalston Unit Baker Kibler 1H D&M Lark Phillips 1H…
  33. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 33
    Halcn Field Services (HFS) Infrastructure Challenges = Opportunity Support Halcn drilling operations Control time to market by installing, owning and operating midstream assets Minimize environmental impact Experienced leadership…
  34. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 34
    Pro Forma Capitalization and Liquidity Pro Forma Capitalization ( in millions) HK HY Add-On Offering HK As Adjusted 12.31.2012 Adjustments 12.31.2012 Cash and Cash Equivalents 2.5 321.5 324.0 Revolving Credit Facility 298.0 (298.0) 0.0…
  35. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 35
    2013 D&C Capex Budget 2013 D&C Capex by Area Bakken/Three Forks 38% Woodbine 32% Utica/Point Pleasant 16% El Halcn 8% Other 6% Total 1.2 Billion Capex by Area 6% 8% 38% 16% 32% Bakken/Three Forks Woodbine Utica/Point…
  36. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 36
    Derivative Summary as of 4.8.13 PROTECT CASH FLOW Actively hedging with target to hedge up to 80% of expected production over next 18-24 months Avg. Floor Price 90.60 88.44 Avg. Floor Price 3.91 3.89 4.00 38
  37. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 37
    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…
  38. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 38
    Appendix
  39. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 39
    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 21.2% 79,911 17.7%…
  40. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 40
    Pro Forma Production and Reserves Detail Avg. Net Daily Production (Boe/d) (1) Proved Reserves (2) 3Q12 4Q12 Variance Oil MBbls Gas MMcf NGL MBbls Equiv. % Oil/NGLs % PD % Total PV10 (2) % Total Q/Q Mboe Reserves (MM) PV10 CORE…
  41. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 41
    Derivative Detail as of 4.8.13 Oil Hedge Summary FY 2013 FY 2014 FY 2015 Volume Ceiling / Floor Volume Ceiling / Floor Volume Ceiling / Floor (Bbls) Swap Price (1) Purchased (1) Floor Sold (1) (Bbls) Swap Price (1) Purchased (1)…
  42. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 42
    HK 4Q12 Oil & Gas Differentials Oil Differentials By Area Total 4Q '12 Bakken/Three Forks 94.9% Eagle Ford (Fayette/Gonazles Counties) 109.2% Woodbine 114.0% Other - Conventional 102.8% Total Company 102.3% Avg. NYMEX Oil Price…
  43. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 43
    Bakken/Three Forks Type Curve Detail 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…
  44. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 44
    Bakken/Three Forks Type Curve Detail 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…
  45. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 45
    Woodbine North Type Curve Detail Halliday Field (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…
  46. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 46
    Utica/Point Pleasant Type Curve Detail 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…
  47. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 47
    Utica/Point Pleasant Type Curve Detail Volatile Oil 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…
  48. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 48
    Utica/Point Pleasant Type Curve Detail 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…
  49. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 49
    Halcn History Closed the Williston Basin Assets acquisition Recapitalized RAM Energy Resources, Inc.(1) Funded with 756 million of cash and Funded with 550 million investment by EnCap, 108.8 million shares of equity Liberty Energy…
  50. IPAA OGIS NEW YORK CONFERENCE – Halcon Resources Corp – slide 50
    Contact: Scott M. Zuehlke, VP Investor Relations 1000 Louisiana St., Suite 6700 Houston, TX 77002 832-538-0314 szuehlkehalconresources.com www.halconresources.com 52

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