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ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp

Halcon Resources Corp · Aug 13, 2013 · 31 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. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 1
    EnerComs The Oil & Gas Conference August 13, 2013
  2. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 2
    Halcn Today Build oil-levered company with significant acreage in 3-5 core plays A Proven Identify thousands of de-risked but unbooked locations for future development Strategy Proven management team with strong track record and…
  3. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 3
    Liquids-Rich Core Asset Base Significant Resource Potential Other Exploratory Plays Not Shown Bakken/Three Forks Key Statistics 150,000 Net Acres Total Proved Reserves: 106.7 MMBoe % Proved Developed: 48% Utica/Point Pleasant…
  4. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 4
    Catalysts = Substantial Upside Potential Bakken/Three Forks El Halcn Operational efficiencies expected to lead to Extension of prolific Eagle Ford shale improved recovery factors/economics Optimization of D&C techniques driving…
  5. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 5
    Halcn Positioned to Deliver Halcn to Deliver Best-in-Class Production Growth in 2013 (1) Pro Forma Net Production Volumes in Mboe/d 35.0 28.1 Actual Production 24.9 25.5 21.0 22.4 Guidance Midpoint 18.9 +25% +10% PF…
  6. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 6
    Bakken/Three Forks IP Rates for Recent Wells Outperforming Type Curve Estimates 150,000 Net Acres Proved Reserves(1) 72% operated Gas Avg. WI in operated acreage: 94% NGL 9% Asset Avg. WI in operated wells:…
  7. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 7
    Williston Basin Operating Details Total Williams County Three Bakken Williston Forks Basin Producing/Testing 114 35 149 Operated Well Summary Completing 4 1 5 WOC 10 3 13 Drilling 5 2 7 Total 133 41 174 Forecast…
  8. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 8
    Continued Focus on Improving Well Performance 1 Plug & perf vs. sliding sleeve 58% increase in average Bakken IP Fort rate (1) 100% ceramic proppant Completion Modifications Berthold: Record IP rate of 3,317 Boe/d on Bakken &…
  9. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 9
    Batch Drilling Improves Well Efficiency and Lowers Drilling Costs Single Well Drill vs. 4 Well Batch Drill on Pad Site in 000s unless otherwise noted (293) (390) (143) (45) (33) (30) (400) 1.3 MM & 25 Days in savings…
  10. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 10
    El Halcn Operating More Efficiently; Increasing Footprint 60,000 net acres(1) Proved Reserves(2) 100% operated NGL Gas Avg. WI in acreage: 72% 3% 3% Asset Avg. WI in wells: 74% Overview Avg. NRI in wells: 56% 2.5 2Q13 production…
  11. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 11
    El Halcn Operating Details Producing/Testing 14 Operated Well Summary Completing 8 WOC 1 Drilling 4 Total 27 Forecast Active Rigs 2H13 3- 4 Operated Wells Spud 2H13 20 - 25 HK Lease Area 13
  12. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 12
    Drilling Efficiencies = Improved Economics El Halcn YTD 2013 Drilling Stats 18.88 1,656 9,033 15.69 7,973 1,152 7,312 10.75 850 Avg. Drilling Drilled Lateral Avg. Feet / Day Days Length (Feet) First Five Wells Last…
  13. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 13
    El Halcn Cross Section All Stages Successful Unsuccessful Stages Out of Target Successful Unsuccessful Placement Placement Placement Placement Stages in Target 231 99% 1 1% Stages Out of Target (High) 19 8% 15 6% Stages Out of…
  14. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 14
    Utica/Point Pleasant Evaluation Ongoing; Leasing Efforts Reinitiated; HFS Moving Forward 142,000 net acres (1) 99% operated Avg. WI in acreage: 96% Asset Avg. WI in wells: 91% Overview Avg. NRI in wells: 75% 2Q13 production 90…
  15. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 15
    Utica/Point Pleasant Operating Details Operated Well Summary Producing 1 Tested/Shut-in - WOPL 5 Testing 2 Resting 1 Total 9 Forecast Active Rigs 2H13 1 Operated Wells Spud 2H13 3- 5 Allam 1H Flare Test (Venango…
  16. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 16
    Utica/Point Pleasant Acreage Delineation Essentially Complete Structure Top Trenton PENNSYLVANIA OHIO Staab 1H WOPL Range Resources BP Shell BP Range Resources BP Phillips 1H Yoder 2H BP Producing WOPL Pilgrim 2-3H BP…
  17. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 17
    Top Liquids-Rich Utica Well Results Kibler 1H Ranks Among the Top Liquids-Rich Utica Results (50% Liquids) 4.0 100% 3.5 Kibler 1H 90% 75% 80% 3.0 Peak Rate (MBoe/d) % Liquids Content 70% 2.5 2.2 60% 2.0 50% 1.5 40% 30%…
  18. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 18
    Evaluation Phase Underway; Development to Gain Momentum in Early 2014 Phase 1: Phase 2: Phase 3: Delineation Evaluation Development ESSENTIALLY YE 2013 Ongoing COMPLETE Drilled 9 wells across 70 Petrophysical data compares…
  19. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 19
    Oil & Gas Marketing Strong Price Realizations 2Q13 HK Oil Differentials by Area 2Q13 Total HK Differentials Avg. NYMEX Oil Price Oil Differential 108% 109% 97% (vs. NYMEX Oil) 94.17 102% 103% NGL Differential 35% (vs. NYMEX…
  20. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 20
    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…
  21. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 21
    Financial Policies Fund growth and capital expenditures prudently Control capital spending (e.g. avoid short-term HBP obligations) Discretionary growth funded with internally generated cash flow, asset sales, equity and debt when…
  22. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 22
    Pro Forma Capitalization and Liquidity Pro Forma Capitalization ( in Millions) Adjustments HK Acquisitions / Capital Pro Forma HK 6.30.2013 Divestitures (1) Raises (2) 6.30.2013 Ca s h a nd Ca s h Equi va l ents 3.1 332.2 335.2…
  23. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 23
    2013 D&C Capex Budget Details 2013 D&C Capex by Area 2H 2013 FY 2013 Bakken/Three Forks 52% 46% Woodbine 1% 15% El Halcn 38% 22% Utica/Point Pleasant 7% 10% Other 2% 7% Total ( in millions) 510 1,375 Note: D&C capital…
  24. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 24
    Derivative Summary as of 8.1.13 PROTECT CASH FLOW Hedged Oil Production (Bo/d) Hedged Gas Production (MMBtu/d) 30,000 40,000 25,037 25,037 35,000 25,000 978 22,760 504 30,000 26,652 26,652 20,000 652 25,000 MMBtu/d…
  25. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 25
    Investment Highlights Oil-Weighted Proved reserves of 106.7 MMBoe (85% oil & NGLs) (1) Assets Current production of 35.0 MBoe/d is comprised of 85% liquids (as of July 31, 2013) Substantial Halcn estimates total resource potential of…
  26. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 26
    Appendix
  27. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 27
    Halcn Ownership (in thousands) Basic Dilutive Securities Fully Diluted Net Diluted (4) (1) (2) (3) Owner Shares Percent Conv. Debt Conv. Preferred Warrants Options Shares Percent Shares Percent HALRES LLC (5) - - 64,371 - 36,667 -…
  28. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 28
    Pro Forma Production and Proved Reserves Detail Avg. Net Daily Production (Boe/d) (1) Proved Reserves (2) 1Q13 2Q13 Variance Oil MBbls Gas MMcf NGL MBbls Equiv. Mboe % Oil/NGLs % PD % Total PV10 (2) % Total PV10 Q/Q Reserves (MM)…
  29. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 29
    Derivative Detail as of 8.1.13 Oil Hedge Summary July to December 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)…
  30. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 30
    Halcn History Recapitalized RAM Energy Resources, Inc (1) Raised 400MM of equity Closed the East Texas Assets acquisition Closed the Williston Basin Assets through PIPE offering - Funded with 300MM of cash and 20.8MM acquisition -…
  31. ENERCOMS THE OIL & GAS CONFERENCE – Halcon Resources Corp – slide 31
    Contact: Scott M. Zuehlke, VP Investor Relations 1000 Louisiana St., Suite 6700 Houston, TX 77002 832-538-0314 szuehlkehalconresources.com www.halconresources.com 34

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