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IPAA OGIS New York – Endeavour International Corp

Endeavour International Corp · Apr 8, 2014 · 26 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 – Endeavour International Corp – slide 1
    IPAA OGIS New York April 8, 2014
  2. IPAA OGIS New York – Endeavour International Corp – slide 2
    Endeavour at a Glance Distinctive Portfolio Key Figures Exceptional operating margins from three core assets Stock Symbol Brent crude oil and European natural gas exposure New York Stock Exchange END Developing U.S. resource plays…
  3. IPAA OGIS New York – Endeavour International Corp – slide 3
    2013 Accomplishments Operations Samson Joint Venture Rossini Rochelle field on production Sale of 50% of upstream and Discovered by Endeavour in 2012 midstream assets in the Pennsylvania Third Bacchus production well Marcellus and…
  4. IPAA OGIS New York – Endeavour International Corp – slide 4
    Endeavours Growing Resource Base Reserve growth Asset base has become increasingly more oil levered 83% U.K. gas 45.0 47.2 43.7 87% of proved and probable 38.9 40.1 100% (2P) gas reserves are in the U.K. 21.5 39% 26.1 25.0 22.3…
  5. IPAA OGIS New York – Endeavour International Corp – slide 5
    Production Sold Into Higher-Valued European Markets Crude oil Natural gas Average spread over the period: 14.34 Average spread over the period: 6.21 16 125 14 115 12 10 105 8 95 6 85 4 75 2 WTI Brent Henry Hub UK…
  6. IPAA OGIS New York – Endeavour International Corp – slide 6
    Reserve Valuation (as of 12/31/13) Pro forma net asset valuation ( in millions) 2,309 1,531 883 848 773 2P and 3P PV-10 1P PV-10 Total debt Net debt (1) Excluding monetary production payment of 162 million. 7
  7. IPAA OGIS New York – Endeavour International Corp – slide 7
    Significant Proved Reserves and Production Production volume up 27% year-over-year Increasing production in higher valued commodity markets Brent and U.K. NBP prices have averaged 108.46 and 10.63, respectively for 2013 2012…
  8. IPAA OGIS New York – Endeavour International Corp – slide 8
    Historical Financials Summary Average Daily Production (boepd) Revenue ( in millions) 10,017 337.7 7,868 219.1 4,115 3,382 71.7 60.1 2010 2011 2012 2013 2010 2011 2012 2013 Adjusted EBITDAX Capital Expenditures ( in…
  9. IPAA OGIS New York – Endeavour International Corp – slide 9
    Attractive Margins and Expense Structure Alba Bacchus Rochelle /boe /boe /mcfe Cash Operating Expense Cash Operating Expense Cash Operating Expense 20.00 9.00 1.50 Brent Spot Brent Spot NBP Spot 106.00 106.00 11.00…
  10. IPAA OGIS New York – Endeavour International Corp – slide 10
    Current Assets
  11. IPAA OGIS New York – Endeavour International Corp – slide 11
    Overview of Endeavours U.K. Assets Current Production Development Projects Enoch Alba Rochelle Bacchus Columbus Bittern 12
  12. IPAA OGIS New York – Endeavour International Corp – slide 12
    Rochelle Overview - Blocks 15/26b, 15/26c and 15/27 Endeavour WI: 44% Operator: Nexen (41% WI) 15/26a 15/27 (E) Partner: Premier Oil (15% WI) Mostyn Ravel Online: October 2013 15/26c Rossini The field is a Lower Cretaceous…
  13. IPAA OGIS New York – Endeavour International Corp – slide 13
    Bacchus - Block 22/06a Central North Sea Endeavour WI: 30% Bacchus Operator: Apache (50% WI) Partner: First Oil (20% WI) Reservoir is formed by shallow marine Fulmar Forties sandstones of Upper Jurassic age Current production…
  14. IPAA OGIS New York – Endeavour International Corp – slide 14
    Alba Field Overview - Block 16/26a Endeavour WI: 25.68% Operator: Chevron (23.37% WI) Partners: Statoil (17% WI) Mitsui (13% WI) Centrica (12.65% WI) Enquest (8% WI) Britannia Discovered/1st Production 1984/1994 Late Eocene…
  15. IPAA OGIS New York – Endeavour International Corp – slide 15
    High Quality Exploration in Core Central North Sea Area Exploration Portfolio in Core Central North Sea Prospects, Discoveries and Licences Enoch Net Unrisked Contingent Prospective Resources: 376 MMboe 28 Licences (12 Endeavour…
  16. IPAA OGIS New York – Endeavour International Corp – slide 16
    R-Block Exploration Opportunities - Rossini Blocks: 15/26a, 15/26c, 15/27 Reservoir: Upper Jurassic Galley Sandstone Expected Fluid Type: Oil Prone Working Interest 50%-100% Rossini was discovered by Endeavour in 2012 A large…
  17. IPAA OGIS New York – Endeavour International Corp – slide 17
    US Onshore Assets US Q4 2013 Totals 442,600 gross / 109,000 net acres Building Portfolio Average of 6 MMCFe/D net production Heath Marcellus Niobrara/Frontier Haynesville Oil Captured Gas Pending deal Mixed 18
  18. IPAA OGIS New York – Endeavour International Corp – slide 18
    Endeavour - NW Colorado Niobrara Opportunity Pursuing liquids-rich, stacked Niobrara/Frontier Buck Peak Niobrara trend 20-30 mmbo plays in the Piceance Basin, NW Colorado Piceance Basin Colorado Rangely Niobrara Wiley Prospect…
  19. IPAA OGIS New York – Endeavour International Corp – slide 19
    Piceance Basin Niobrara - Industry Activity Area Participants Buck Peak trend Axia / Oxy 20-30 mmbo Winter Valley 80 mbo Mesa/WPX W Whiting Encana Rangely 15 mmbo Black Hills WPX 16 mmcf/d Endeavour Project Areas Niobrara…
  20. IPAA OGIS New York – Endeavour International Corp – slide 20
    Marcellus Industry Activity in END Play Area Reported Marcellus EURs 6 8+ Bcf Seneca N. Cameron County PGE long laterals 7000+ 5000+ 5500 laterals, 37-stage fracs IPs 7- 11 mmcf/d Seneca Utica well Seneca Geneseo EURs 6-8 BCF…
  21. IPAA OGIS New York – Endeavour International Corp – slide 21
    Pennsylvania Marcellus Assets In October 2013, closed a 50% sale / joint venture with Samson Exploration, LLC Provides development capital for Daniel Project proof of concept 27,000 net acres (majority held by production),…
  22. IPAA OGIS New York – Endeavour International Corp – slide 22
    Financial Overview
  23. IPAA OGIS New York – Endeavour International Corp – slide 23
    2014 Direct Capital Expenditure Budget U.S. Other Colorado Alba U.K. Other 2014 Direct CapEx = 60 million - 80 million U.K. = 40 million - 55 million U.S. = 20 million - 25 million Decommissioning costs for IVRR,…
  24. IPAA OGIS New York – Endeavour International Corp – slide 24
    Pro Forma Debt Maturity Schedule 500 400 300 554 mm 200 78 12.5 100 135 125 0 2014 2015 2016 2017 2018 Convertible Notes due 2016 (18.51 per share conversion price) Convertible Bonds due 2016 (16.52…
  25. IPAA OGIS New York – Endeavour International Corp – slide 25
    Focus for 2014 Improve and maintain production Control capex spending Deleverage Pursue exploitation of exploration inventory through joint ventures with like minded partners 26
  26. IPAA OGIS New York – Endeavour International Corp – slide 26
    NYSE:END LSE:ENDV www.endeavourcorp.com INVESTOR CONTACT: Darcey Matthews Director of Investor Relations 713.307.8711 darcey.matthewsendeavourcorp.com

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