Strong Execution Driving Growth and Value A P R I L I N V E S T O R P R E S E N T A T I O N
|
|
- Penelope Chloe Jennings
- 5 years ago
- Views:
Transcription
1 Strong Execution Driving Growth and Value A P R I L I N V E S T O R P R E S E N T A T I O N Deutsche Bank Midland Tour April 5, 2018
2 Forward-looking and Cautionary Statements Forward-looking Statement: All statements, other than statements of historical fact, appearing in this presentation constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of These forward looking statements include, among other things, statements about our expectations, beliefs, intentions or business strategies for the future, statements concerning our outlook with regard to the timing and amount of future production of oil, natural gas liquids and natural gas, price realizations, the nature and timing of capital expenditures for exploration and development, plans for funding operations and drilling program capital expenditures, the timing and success of specific projects, operating costs and other expenses, proved oil and natural gas reserves, liquidity and capital resources, outcomes and effects of litigation, claims and disputes and derivative activities. Forward looking statements may include words such as anticipate, believe, could, estimate, expect, forecast, foresee, intend, may, plan, potential, predict, project, seek, will, or other words or expressions concerning matters that are not historical facts. These statements involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this presentation. Except as otherwise disclosed, the forward looking statements do not reflect the impact of possible or pending acquisitions, investments, divestitures or restructurings. The absence of errors in input data, calculations and formulas used in estimates, assumptions and forecasts cannot be guaranteed. We base our forward looking statements on information currently available to us, and we undertake no obligation to correct or update these statements whether as a result of new information, future events or otherwise. Additional information regarding our forward looking statements and related risks and uncertainties that could affect future results of Energen, can be found in the Company s periodic reports filed with the Securities and Exchange Commission and available on the Company s website ( Cautionary Statements: The SEC permits oil and gas companies to disclose in SEC filings only proved, probable and possible reserves that meet the SEC s definitions for such terms, and price and cost sensitivities for such reserves, and prohibits disclosure of resources that do not constitute such reserves. Outside of SEC filings, we use the terms estimated ultimate recovery or EUR, reserve or resource potential, contingent resources and other descriptions of volumes of non-proved reserves or resources potentially recoverable through additional drilling or recovery techniques. These estimates are inherently more speculative than estimates of proved reserves and are subject to substantially greater risk of actually being realized. We have not risked EUR estimates, potential drilling locations, and resource potential estimates. Actual locations drilled and quantities that may be ultimately recovered may differ substantially from estimates. We make no commitment to drill all of the drilling locations that have been attributed these quantities. Factors affecting ultimate recovery include the scope of our ongoing drilling program, which will be directly affected by the availability of capital, drilling, and production costs, availability of drilling and completion services and equipment, drilling results, lease expirations, regulatory approvals, and geological and mechanical factors. Estimates of unproved reserves, type/decline curves, per-well EUR, and resource potential may change significantly as development of our oil and gas assets provides additional data. Additionally, initial production rates contained in this presentation are subject to decline over time and should not be regarded as reflective of sustained production levels. 2
3 Execution Continues to Deliver Superior Results Strong Execution Leads to Excellent Results in 4Q17 4Q17 production beat guidance by 14% and surpassed 3Q17 by 20% 4Q17 oil production grew to 58.1 mbopd and exceeded guidance by 8% 4Q17 per-unit LOE and SG&A beat guidance midpoints by 10% and 9%, respectively CY17 production of 76.1 mboepd grew 39% from CY16 on strength of Generation 3 completions and increased activity level Additions replaced 415% of 2017 production, driving 40% increase in YE17 proved reserves Updated inventory supports net undeveloped resource potential of 2.7 billion BOE Gen 3 Pattern Wells Continue to Generate Outstanding Results Gen 3 performance drives strong IRRs through higher EURs and/or acceleration Updated type curves support superior economics 25 gross/21 net wells were turned to production in 4Q17; 64% were multi-zone pattern wells completed in batches New wells reflect outstanding 24-hour and 30-day IP rates in Midland and Delaware basins, with 4Q17 Delaware Basin wells generating average 24-hour IP rate of 402 boepd/1,000 and average 30-day IP rate of 272/1,000. Results reflect Energen s transformation into low-cost Permian pure-play with strong foundation for profitable growth 3
4 Focus on Value Creation Bringing Value Forward in CY18 Drilling & development capital estimated to range from $1.1B to $1.3B Plans include drilling approximately 130 gross/120 net horizontal wells and completing approximately 123 gross/113 net horizontal wells (including 30 gross/28 net DUCs at YE17) 2018 YOY production growth estimated at 25% at guidance midpoint 3-Year Outlook Leverages Superior Economics to Further Drive Shareholder Value 3-year production CAGR expected to exceed 28% Annual production estimated to reach 160 mboepd in 2020, with 4Q exit rate of 170 mboepd Drilling & development capital estimated to increase to $1.6B-$1.8B in year EBITDAX CAGR estimated at approximately 35% Balance sheet ensures capital flexibility as net debt to EBITDAX estimated to remain within 1.0x-1.5x each year Three-year outlook reflects commitment to bringing forward NAV of high quality assets while maintaining strong balance sheet 4
5 Another Production Beat in 4Q17 By Basin (mboepd) By Commodity (mboepd) Q17a 4Q17 Guidance 4Q17a Central Basin/Other Midland Basin Delaware Basin Q17a 4Q17 Guidance 4Q17a Gas NGL Oil Total production up 14% over guidance and 20% over prior quarter Midland and Delaware Basin production each up approximately 14% over guidance Oil production up 8% over guidance and 19% sequentially Note: Totals may not sum due to rounding 5
6 2017 Production Grows 39% Total 2017 production: 76.1 mboepd Delaware Basin production grows approximately 150% YOY in 2017 Midland Basin production exceeds 42 mboepd in 2017 Production (mboepd) Growth rate (5-year CAGR): 20% total production 34% Midland Basin 27% Delaware Basin 31% Midland & Delaware (9%) CBP/Other Central Basin/Other Midland Basin Delaware Basin Note: All years exclude asset sales 6
7 4Q17 Expenses Beat Guidance Midpoints LOE ($/boe) Net SG&A ($/boe) $7.85 $6.70 $6.02 ($4.94*) $4.25 $2.85 $2.58 4Q16a 4Q17 Guidance Mdpt 4Q17a 4Q16a 4Q17 Guidance Mdpt 4Q17a LOE/boe down 10% from guidance LOE/boe down 23% from 4Q16 SG&A/boe down 9% from guidance SG&A/boe down 39% from 4Q16 * Per-unit LOE for Midland/Delaware basins totaled $4.94/boe Note: 4Q16a excludes asset sales 7
8 Focus on Cost Reductions, Operating Efficiencies Drive Decline in YOY Expenses Midland/Delaware LOE ($/boe) Net SG&A ($/boe) $6.23 $5.28 $4.32 $ Note: 2016 excludes asset sales 8
9 CY17 Ends with Strong Balance Sheet 2017 Capitalization ($mm) Net debt at YE16 $ 165 Plus: Total Capital Expenditures* $ 1,189 Less: After-tax Cash Flows $ 571 Net Debt at YE17 $ 783 Net Debt/EBITDAX at YE Cash at YE17 $ -- Amount outstanding on revolver at YE17 $ 255 Notes at YE17 $ 528 Undrawn borrowing base $ 795 Maturity Schedule of Notes $400 $110 $ * Includes $287 mm for leasehold, mineral acquisitions, and miscellaneous costs incurred during 2017 Corporate Debt Ratings Moody s: Ba3-Stable S&P: BB-Stable 9
10 YE17 Proved Reserves Increase >40% Reserve additions replaced production by 415% 2017 proved developed F&D cost totaled $8.38 per boe 1 Value of PDP reserves increased from $1.1B to $2.7B Delaware Basin proved reserves jumped 177% due to increased activity levels, Gen 3 performance, and higher pricing 3P and Contingent Resources totaled 3.0 billion BOE, up 33% from 2016 (mmboe) Proved Reserves Price Other YE16 Production Acq/(Div) Additions YE17 by Basin Revisions Revisions Midland Basin Delaware Basin Platform/Other TOTAL Proved Reserves by Commodity Oil Natural gas liquids Natural gas TOTAL NOTE: Totals may not sum due to rounding Basin Proved Probable Possible Contingent Resources Total Midland Basin ,557 Delaware Basin ,243 1,437 Platform/Other TOTAL ,223 3,037 YE17 Reserves Pricing: oil $51.34/barrel WTI; NGL (before T&F) $0.57/gallon; natural gas $2.98/mcf Henry Hub 1 Proved developed finding and development (F&D) cost per boe is defined as exploration and development costs divided by the sum of reserves associated with discoveries and extensions placed on production during 2017, transfers from proved undeveloped reserves at year end 2016, and revisions (excluding price-related revisions) of previous estimates of proved developed reserves in
11 Identified Inventory 4,023 Net Locations on 148,987 Net Acres Midland Basin (WC, SPB, Cline): 2,431 Net Locations on 88,298 net acres Delaware Basin (WC, BS, Avalon, BC): 1,592 Net Locations on 60,689 net acres Dawson: 15 Martin: 805 Howard: 229 New Mexico Texas Lea: 135 Loving: 545 Winkler: 35 Midland: 292 Glasscock: 868 Ward: 338 Upton: 23 Reagan: 195 (Crockett: 5) EGN Acres w/ Identified Horizontal Locations (2017 acquisitions, trades, increased WI shown in blue) Potential acreage addition of 10,000 net acres Reeves: 540 EGN Acres w/ Identified Horizontal Locations (2017 acquisitions, trades, increased WI shown in blue) Potential drilling locations as of 12/31/2017; engineered based on company s acreage and spacing plans and may change materially over time as the company and offset operators gain additional data in each zone; actual lateral lengths may vary depending on various factors including lease geometry, relationship with offset operators, allowed spacing, reservoir characteristics, and other relevant criteria. 11
12 25 Wells Turned to Production in 4Q17 Area # Wells Avg. Completed Lateral Length Boepd Avg. Peak 24-Hr IP Boepd/ 1,000 % Oil Boepd Avg. Peak 30-Day IP Boepd/ 1,000 % Oil Delaware Basin 5 N. Midland Basin 4 Wolfcamp A (4) 3 rd BS Sand (1) Wolfcamp A (2) Wolfcamp B (2) 6,297 2, , ,548 1, , N. Midland Basin 5 Lower Spraberry 7,451 1, , N. Midland Basin * 9 Mid. Spraberry (5) Jo Mill (4) 7, C. Midland Basin 2 Wolfcamp A 9,160 1, , * Includes one Middle Spraberry well and one Jo Mill well turned to production in 3Q17 but not previously disclosed due to timing of first production Note: Excludes 2 test wells (one in Northern Midland Basin and one in Central Midland Basin) drilled in other formations 64% of wells turned to production in 4Q17 were multi-zone pattern wells completed in batches 12
13 Cumulative Production (MBOE) 2018 Delaware Basin Program Type Curves, EURs Updated New Ryder Scott Composite Curve for 2018 Delaware Basin program features 2.2 MMBOE EUR, up from prior midpoint of possible EURs of 1.75 MMBOE (59% oil). Higher EURs and acceleration driving higher IRRs. Recent wells continue to show outstanding results, as does average of 30 Delaware Basin Gen 3 Wolfcamp A/B wells brought on line in 2017 (red line); 50% are multi-zone pattern wells completed in batches Days # Wells: Prior Midpoint of Possible EURs Cessna 601H Avg Goldfinger Lease (2 Wells) 2017 Gen 3 Wolfcamp A/B Avg (30 Wells) Production and type curves normalized to 10, Gen 3 avg. production (red line) includes operational downtime Individual well/lease production normalized for operational downtime Day 0 = first oil Ryder Scott Composite Curve for 2018 Program Avg Alameda Lease (6 Wells) Avg New Mexico Well (1 WCA, 1 3rd Bone) 13
14 Cumulative Production (MBOE) 2018 NMB Wolfcamp A/B Program Type Curves, EURs Updated New Ryder Scott Composite Curve for 2018 North Midland Basin Wolfcamp A/B wells features 1.2 MMBOE EUR (67% oil). Updated shape of curve reflects acceleration, which is driving higher IRRs. Recent wells continue to show outstanding results, as does average of 13 North Midland Basin Gen 3 Wolfcamp A/B wells brought on line in 2017 (red line); 85% are multi-zone pattern wells completed in batches Production and type curves normalized to 10, Gen 3 avg. production (red line) includes operational downtime Individual well/lease production normalized for operational downtime Day 0 = first oil Days # Wells: Prior Midpoint of Possible EURs Ryder Scott Composite Curve for 2018 Program Gaskins 103H Avg Tiger Lease (4 Wells) 2017 Gen 3 Avg Wolfcamp A/B (13 Wells) 14
15 Cumulative Production (MBOE) 2018 NMB Lower Spraberry Program Type Curves, EURs Updated New Ryder Scott Composite Curve for 2018 North Midland Basin Lower Spraberry wells features 1.15 MMBOE EUR (73% oil). Updated shape of curve reflects acceleration, which is driving higher IRRs. Recent wells continue to show outstanding results, as does average of 9 North Midland Basin Gen 3 Lower Spraberry wells brought on line in 2017 (red line); 100% are multi-zone pattern wells completed in batches Days # Wells: Prior Midpoint of Possible EURs Avg Tiger Lease (5 wells) Production and type curves normalized to 10, Gen 3 avg. production (red line) includes operational downtime Individual well/lease production normalized for operational downtime Day 0 = first oil Ryder Scott Composite Curve for 2018 Program 2017 Gen 3 Avg Lower Spraberry (9 Wells) 15
16 Cumulative Production (MBOE) 2018 NMB Middle Spraberry/Jo Mill Program Type Curves, EURs New Ryder Scott Composite Curve for 2018 North Midland Basin Middle Spraberry and Jo Mill wells features 1.3 MMBOE EUR (72% oil). Higher EURS driving higher IRRs. Shape of curve adjusted to better reflect flowback profiles as compared to Lower Spraberry. Recent wells continue to show outstanding results, as does average of 14 North Midland Basin Gen 3 Middle Spraberry and Jo Mill wells brought on line in 2017 (red line); 86% are multi-zone pattern wells completed in batches Production and type curves normalized to 10, Gen 3 avg. production (red Line) includes operational downtime Individual well/lease production normalized for operational downtime Day 0 = first oil Days # Wells: Prior Midpoint of Possible EURs Gaskins 803H Avg Tiger Lease (5 Wells) Ryder Scott Composite Curve for 2018 Program Adams 601H 2017 Gen 3 Avg MSprb/Jo Mill (14 Wells) 16
17 Cumulative Production (MBOE) 2018 CMB Wolfcamp A/B Program Type Curves, EURs Updated New Ryder Scott Composite Curve for 2018 Central Midland Basin Wolfcamp A/B wells features 1.3 MMBOE EUR (48% oil); Wolfcamp A has higher oil mix at 50% as compared with 41% for Wolfcamp B. Higher EURS driving higher IRRs. Latest wells continue to show outstanding results, as does average of 12 Central Midland Basin Gen 3 Wolfcamp A/B pattern wells brought on line in 2017 (red line); 83% are multi-zone pattern wells completed in batches Prior Midpoint of Possible EURs Avg Pecos Lease (6 Wells) 2017 Gen 3 Avg Wolfcamp A/B (12 Wells) Production and type curves normalized to 10, Gen 3 avg. production (red line) includes operational downtime Individual well/lease production normalized for operational downtime Day 0 = first oil # Wells: Days Ryder Scott Composite Curve for 2018 Program Avg Moore 11-2 Lease (2 Wells) 17
18 7,500 Lateral IRR IRR IRR 10,000 Lateral IRR IRR IRR Attractive IRRs Support 2018 Program DB Wolfcamp A/B NMB 5-Zone Average CMB Wolfcamp A/B 160% 140% 120% 100% 80% 60% 40% 20% 0% Gross EUR: 2,200 mboe $50 $60 $70 NYMEX Oil $/bbl 140% 120% 100% 80% 60% 40% 20% 0% Gross EUR: 1,200 mboe $50 $60 $70 NYMEX Oil $/bbl 80% 70% 60% 50% 40% 30% 20% 10% 0% Gross EUR: 1,300 mboe $50 $60 $70 NYMEX Oil $/bbl -$1.0MM $10.8MM +$1.0MM -$1.0MM $8.3MM +$1.0MM -$1.0MM $8.5MM +$1.0MM 160% 140% 120% 100% 80% 60% 40% 20% 0% Gross EUR: 1,650 mboe $50 $60 $70 NYMEX Oil $/bbl 120% 100% 80% 60% 40% 20% 0% Gross EUR: 915 mboe $50 $60 $70 NYMEX Oil $/bbl 80% 70% 60% 50% 40% 30% 20% 10% 0% Gross EUR: 975 mboe $50 $60 $70 NYMEX Oil $/bbl -$1.0MM $8.3MM +$1.0MM -$1.0MM $6.8MM +$1.0MM -$1.0MM $6.9MM +$1.0MM EURs based on Ryder Scott composite curves for 2018 program Gas and NGL prices held constant at $3/MMBTU and 35% of WTI, respectively Estimated 2018 DC&E Cost 18
19 2018 Drilling & Development Capital Estimated to Range from $1.1B - $1.3B Drilling & Development Capital: $1.1B-$1.3B Hz new drills: approximately 130 gross/120 net wells Hz completions: approximately 123 gross/113 net wells, including 30 gross/28 net YE17 DUCs Hz DUCs at YE18: approximately 37 gross/35 net wells 7 gross/7 net vertical wells to be drilled (6 completions) Average of 8-10 drilling rigs and 4-5 frac crews Completed wells in 2018 program expected to have average lateral lengths of 8,000 and average working interests of 90% 2018 Horizontal Drilling Program Midland Basin: $550MM-$650MM Primary targets NMB: WC A/B, Spraberry package Primary targets CMB: WC A/B Delaware Basin: $550MM-$650MM Primary targets: WC A/B Capital Breakdown* 13% 6% 81% Operated Drilling & Development Facilities Non-Operated/Other Capital by Area* 10% YOY Production Growth at Guidance Midpoint: 25% Annual production estimated to be 95.0 mboepd at midpoint (range: mboepd) Production estimated to range from mboepd in 4Q Delaware Basin production estimated to grow 48% YOY 40% 50% Note: 2018 capital plan assumes prices of $58/bbl WTI, $0.65/gal NGL (before T&F) and $2.75/mcf Henry Hub * Graphed at midpoint of capital guidance range Delaware Basin North Midland Basin Central Midland Basin 19
20 Production Estimated to Increase to MBOEPD in 4Q18 Production by Commodity* (mboepd) Operated Horizontal Program First Production/Flow Back (Gross/Net) Midland Basin Delaware Basin 1Q18e 9/8 4/4 2Q18e 16/15 12/ Q18 2Q18 3Q18 4Q18 3Q18e 15/14 14/13 4Q18e 26/22 21/21 CY18e 66/58 51/48 Note: Totals may not sum due to rounding Gas NGL Oil * Guidance at midpoint 20
21 2018e YOY Production Growth: 25% Five-year total production CAGR: approximately 20% Delaware Basin estimated to grow 48% YOY in 2018 (at guidance midpoint) Production (mboepd) e Note: Guidance at midpoint; all years exclude asset sales Platform/Other Midland Basin Delaware Basin 21
22 Attractive Per-Unit Expenses Expected in 2018 Per BOE, except as noted 2018e 2017 LOE (production costs, marketing & transportation) $ $6.60 $6.61 Production & ad valorem taxes (% of revenues, excluding hedges) 6.2% 6.0% DD&A expense $ $14.50 $17.23 Salaries and general & administrative expenses $ $2.70 $3.05 Exploration expense (seismic, delay rentals, etc.) $ $0.20 $0.29 Interest expense ($mm) $ $51.5 $38.4 Effective tax rate (%) 22%-24% 37% CY18e LOE per BOE by Basin: Midland Basin $5.05-$5.25 Delaware Basin $5.35-$5.55 Central Basin Platform/Other $21.55-$21.75 CY18e Salaries and G&A, net ($ per BOE) Total $ $2.70 Cash $ $2.05 Non-cash equity-based comp $ $
23 Energen Maintains Strong Balance Sheet 2018e Capitalization ($mm) Net debt at YE17 $ 783 Plus: Total Capital Expenditures $ 1,100 1,300 Less: After-tax Cash Flows $ 877 Net Debt at YE18 $ 1,006 1,206 Net Debt/EBITDAX at YE Cash at YE18 $ -- Amount outstanding on revolver at YE18 $ Notes at YE18 $ 528 Undrawn line of credit $ EBITDAX reflects hedges, known commodity prices, and assumed prices for unhedged volumes of $58.00/barrel (January-December), $0.65/gallon (January-December), and $2.75 per Mcf (February-December). Maturity Schedule of Notes $400 $110 $ Corporate Debt Ratings Moody s: Ba3-Stable S&P: BB-Stable Strong financial position provides foundation for future growth and value creation 23
24 Hedges Help Minimize Risk Hedge Volumes Oil 3-way Collars¹ 13.5 mmbo 65% Call Price Put Price Short Put Price % Hedged 2 Avg. NYMEX Price $ 60.04/bbl $ 45.47/bbl $ 35.47/bbl Oil Swaps 1.4 mmbo 7% $ 60.24/bbl Commodity Hedge Volumes % Hedged 2 Avg. NYMEXe Price NGL mm gal 46% $ 0.60/gal Natural gas 9.0 bcf 20% $ 3.04/mcf Energen also has hedged the Midland to Cushing differential on 11.1 mmbo ( 60%) of its estimated 2018 sweet oil production at an average price of $(1.03). Oil 3-way Collars¹ Call Price Put Price Short Put Price Commodity Hedge Volumes 5.8 mmbo Hedge Volumes Avg. NYMEX Price $ 61.65/bbl $ 45.94/bbl $ 35.94/bbl Oil Swaps 2.9 mmbo $ 56.52/bbl Avg. Price NGL 55.4 mm gal $ 0.64/gal Energen also has hedged the Midland to Cushing differential on 6.1 mmbo of its estimated 2019 sweet oil production at an average price of $(0.75). ¹ When the NYMEX price is above the call price, Energen receives the call price; when the NYMEX price is between the call price and the put price, Energen receives the NYMEX price; when the NYMEX price is between the put price and the short put price, Energen receives the put price; and when the NYMEX price is below the short put price, Energen receives the NYMEX price plus the difference between the put price and the short put price. 2 Assumes midpoint of guidance 24
25 Three-Year Outlook Drives Further Value Outlook for underscores Company s commitment to bringing value forward by developing its top-tier Permian inventory and operating efficiently Capital Drilling & development capital estimated to increase to $1.6B-$1.8B in 2020 Three-year plan assumes continuation of approximate 50/50 capital allocation between Midland and Delaware basins Production 3-year production CAGR (at midpoint) estimated to exceed 28% Annual production estimated to exceed 160 mboepd in Q exit rates expected to increase from 107 mboepd (at midpoint) in 2018 to approximately 135 mboepd in 2019 and 170 mboepd in 2020 Cash Flow Three-year plan assumes continuation of backwardated price environment with WTI oil prices of $58/bbl in 2018, $54/bbl in 2019 and $52/bbl in 2020 EBITDAX estimated to exceed $1.6B in 2020 for 3-year CAGR 35% Balance Sheet Growth occurs as Company continues to maintain already outstanding balance sheet Net debt to EBITDAX estimated to be within 1.0x-1.5x in each year 25
26 Providing Strong Platform for Value Creation as Permian Pure-Play Solid execution leads to superior results in 2017 Continued execution in drives growth and value Oil-focused inventory > 4,000 net locations in key Permian Basin trends support net, undeveloped resource potential of 2.7 billion BOE Top-tier asset base and return potential $1.1B-$1.3B capital investment estimated for drilling and completion activities in year production CAGR expected to exceed 28% per year Strong balance sheet helps ensure capital flexibility 26
27 Appendix 27
28 EGN Frac Design Evolution Delaware Basin Generation 1 ( ) 1,000 lbs./ft proppant 240 stage spacing 39 bbls/ft fluid 50 cluster spacing Midland Basin Generation 1 ( ) 1,250-1,400 lbs./ft proppant stage spacing bbls/ft fluid cluster spacing Generation 2 (2015) 1,330 lbs./ft proppant 260 stage spacing 39 bbls/ft fluid 65 cluster spacing Generation 2 (2016) 1,600-1,700 lbs./ft proppant stage spacing bbls/ft fluid cluster spacing Generation 3 ( ) 1,800-2,400 lbs./ft proppant 200 stage spacing 40 bbls/ft fluid 33 cluster spacing Generation 3 ( ) 1,700-2,000 lbs./ft proppant 150 stage spacing bbls/ft fluid 30 cluster spacing 28
29 Premium Permian Basin Acreage Energen s Permian Footprint (12/31/2017) Basin Gross Acres Net Acres Delaware 93,897 62,313 Midland 118,922 95,105 Platform 116,334 82,578 29
30 Identified Net Midland Basin: >1.3 Billion BOE Midland Basin M. Spraberry Jo Mill L. Spraberry Shale Dean Wolfcamp A Wolfcamp B Net Operated Wells Drilled to Date Net Acreage Inventory: Engineered Locations 1 (Gross/Net) Remaining Horizontal Undeveloped Resource 2 (Net MMBOE) 14 41, / , / , / , / , / Wolfcamp C Penn Shale Cline 4 39, / , / ,040/2,431 1,321 30% of identified locations (897 gross/717 net) have lateral lengths of 10,000 ; average WI is 80% 18% of identified locations (451 gross/440 net) have lateral lengths of 10,000 ; average WI is > 90% 27% of identified locations (938 gross/658 net) have lateral lengths of 6,700 & 7,500 ; average WI is 70% 1 Potential drilling locations engineered to the longest lateral allowed by lease geometry or current/expected agreement based on Energen s acreage and spacing plans; may change materially over time as Energen and offset operators gain additional data in each zone; actual lateral lengths may vary depending on various factors including lease geometry, relationship with offset operators, allowed spacing, reservoir characteristics, and other criteria. 2 Reflects estimates of PUD, probable and possible reserves and contingent resources prepared by the company and reviewed by Ryder Scott; net of royalty interest of 25%. 30
31 Identified Net North Midland Basin: 695 MMBOE Midland, Martin, Dawson & Howard Counties M. Spraberry Net Operated Wells Drilled to Date Net Acreage Inventory: Engineered Locations 1 (Gross/Net) Type Curve EUR per (Gross MBOE/MBO) Remaining Horizontal Undeveloped Resource 3 (Net MMBOE) 14 41, / /94 95 Jo Mill L. Spraberry Shale Dean Wolfcamp A Wolfcamp B 9 41, / / , / / , / / , / / Penn Shale Cline 2 32, /290 65/ ,223/1, % of identified locations (422 gross/343 net) have lateral lengths of 10,000 ; average WI is 81% 18% of identified locations (245 gross/240 net) have lateral lengths of 10,000 ; average WI is > 90% 25% of identified locations (441 gross/332 net) have lateral lengths of 6,700 & 7,500 ; average WI is 81% 1 Potential drilling locations engineered to the longest lateral allowed by lease geometry or current/expected agreement based on Energen s acreage and spacing plans; may change materially over time as Energen and offset operators gain additional data in each zone; actual lateral lengths may vary depending on various factors including lease geometry, relationship with offset operators, allowed spacing, reservoir characteristics, and other criteria. 2 Estimated gross EURs normalized to 1,000 lateral lengths; based on various geological and engineering assumptions made by management using company and pubic data sources; EUR estimates may change materially over time as Energen and offset operators gain additional production data. 3 Reflects estimates of PUD, probable and possible reserves and contingent resources prepared by the company and reviewed by Ryder Scott; net of royalty interest of 25%. 31
32 Identified Net Central Midland Basin: 626 MMBOE Glasscock, Upton & Reagan Counties Net Operated Wells Drilled to Date Net Acreage Inventory: Engineered Locations 1 (Gross/Net) Type Curve EUR per (Gross MBOE/MBO) Remaining Horizontal Undeveloped Resource 3 (Net MMBOE) M. Spraberry Jo Mill L. Spraberry Shale Dean Wolfcamp A Wolfcamp B 6 29, / / , / / , / / Wolfcamp C Penn Shale Cline 4 37, / / , /269 95/ ,817/1, % of identified locations (475 gross/374 net) have lateral lengths of 10,000 ; average WI is 79% 18% of identified locations (206 gross/200 net) have lateral lengths of 10,000 ; average WI is > 90% 30% of identified locations (527 gross/326 net) have lateral lengths of 6,700 & 7,500 ; average WI is 62% 1 Potential drilling locations engineered to the longest lateral allowed by lease geometry or current/expected agreement based on Energen s acreage and spacing plans; may change materially over time as Energen and offset operators gain additional data in each zone; actual lateral lengths may vary depending on various factors including lease geometry, relationship with offset operators, allowed spacing, reservoir characteristics, and other criteria. 2 Estimated gross EURs normalized to 1,000 lateral lengths; based on various geological and engineering assumptions made by management using company and pubic data sources; EUR estimates may change materially over time as Energen and offset operators gain additional production data. 3 Reflects estimates of PUD, probable and possible reserves and contingent resources prepared by the company and reviewed by Ryder Scott; net of royalty interest of 25%. 32
33 Identified Net Delaware Wolfcamp Shale: >1.1 Billion BOE Texas Wolfcamp Upper A Wolfcamp A Wolfcamp B Wolfcamp BC Wolfcamp C Net Operated Wells Drilled to Date Net Acreage Inventory: Engineered Locations 1 (Gross/Net) Type Curve EUR per (Gross MBOE/MBO) Remaining Horizontal Undeveloped Resource 3 (Net MMBOE) 27 48, / / , / / , / / , / / ,796/1,057 1,095 New Mexico Wolfcamp Upper A Wolfcamp A Net Operated Wells Drilled to Date Net Acreage Inventory: Engineered Locations 1 (Gross/Net) Type Curve EUR per (Gross MBOE/MBO) Remaining Horizontal Undeveloped Resource 3 (Net MMBOE) 1 6, /34 130/ % of Wolfcamp locations (560 gross/330 net) have lateral lengths of > 10,000 ; average WI is 59% 22% of locations (270 gross/242 net) have lateral lengths of > 10,000 ; average WI is 90% 22% of Wolfcamp locations (316 gross/236 net) have average lateral lengths of approximately 7,500 ; average WI is 75% 1 Potential drilling locations engineered to the longest lateral allowed by lease geometry or current/expected agreement based on Energen s acreage and spacing plans; may change materially over time as Energen and offset operators gain additional data in each zone; actual lateral lengths may vary depending on various factors including lease geometry, relationship with offset operators, allowed spacing, reservoir characteristics, and other criteria. 2 Estimated gross EURs normalized to 1,000 lateral lengths; based on various geological and engineering assumptions made by management using company and pubic data sources; EUR estimates may change materially over time as Energen and offset operators gain additional production data. 3 Reflects estimates of PUD, probable and possible reserves and contingent resources prepared by the company and reviewed by Ryder Scott; net of royalty interest of 25%. 33
34 Identified Net Delaware Other Plays: 250 MMBOE Other Plays Lwr Brushy Canyon Bone Spring Net Operated Wells Drilled to Date Net Acreage Inventory: Engineered Locations 1 (Gross/Net) Type Curve EUR per (Gross MBOE/MBO) Remaining Horizontal Undeveloped Resource 3 (Net MMBOE) 32,396 82/26 110/90 13 Avalon 5, /31 100/ st Bone Spring Sand 2nd Bone Spring Shale 40,004 35/12 100/80 5 2nd Bone Spring Sand 2 48, /41 100/ rd Bone Spring Shale 3 rd Bone Spring/WC XY Sand 51, / / , /80 100/ / % of Other locations (203 gross/126 net) have lateral lengths of 10,000 ; average WI is 62% 19% of locations (105 gross/96 net) have laterals lengths of 10,000 ; average WI is 91% 16% of Other locations (107 gross/80 net) have average lateral lengths of approximately 7,500 ; average WI is 75% 1 Potential drilling locations engineered to the longest lateral allowed by lease geometry or current/expected agreement based on Energen s acreage and spacing plans; may change materially over time as Energen and offset operators gain additional data in each zone; actual lateral lengths may vary depending on various factors including lease geometry, relationship with offset operators, allowed spacing, reservoir characteristics, and other criteria. 2 Estimated gross EURs normalized to 1,000 lateral lengths; based on various geological and engineering assumptions made by management using company and pubic data sources; EUR estimates may change materially over time as Energen and offset operators gain additional production data. 3 Reflects estimates of PUD, probable and possible reserves and contingent resources prepared by the company and reviewed by Ryder Scott; net of royalty interest of 25%. 34
35 Inventory Spacing: Northern Midland Basin Inventory Spacing per 640-acre Section* Dean Wolfcamp A Wolfcamp B Mile * Subject to change based on continued testing and analysis of spacing and frac designs NOTE: Additional horizontal potential from other intervals such as Clearfork, Atoka/Barnett, Woodford 35
36 Inventory Spacing: Central Midland Basin Inventory Spacing per 640-acre Section* Mile * Subject to change based on continued testing and analysis of spacing and frac designs NOTE: Additional horizontal potential from other intervals such as Clearfork, Middle Spraberry, Jo Mill 36
37 Inventory Spacing: Delaware Basin WC Shale Inventory Spacing per 640-acre Section* 6 6 Wolfcamp BC Mile * Subject to change based on continued testing and analysis of spacing and frac designs 37
38 Inventory Spacing: Delaware Basin Other 3 rd Bone Spring Shale Inventory Spacing per 640-acre Section* Mile * Subject to change based on continued testing and analysis of spacing and frac designs 38
39 Non-GAAP Financial Measures Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Natural Gas Reserves (GAAP) / PV-10 (non-gaap): The standardized measure of discounted future net cash flows (SMOG) is the Company s GAAP estimate of the present value of future net revenues from proved oil and gas reserves after deducting estimated production and ad valorem taxes, operating expenses, development costs, and income taxes discounted at an annual rate of 10%. PV-10 is a non-gaap measure that excludes the Company s estimates of future income taxes (discounted at an annual rate 10%). The Company believes that PV-10 allows for additional comparability among companies in the oil and gas industry due to the unique factors that may impact the timing of future income taxes to be paid. The Company also believes PV-10 to be important for evaluating the relative significance of its oil and gas properties and that the presentation of the non-gaap financial measure of PV-10 provides useful information to investors because it is widely used by professional analysts and investors in evaluating oil and gas companies. The Company believes disclosing the year-over-year change in the PV-10 for Proved Developed Producing (PDP) reserves is a meaningful indication of the increase in value of the Company s producing properties. The following table reconciles the Company s standardized measure of discounted future net cash flows (the most directly comparable measure calculated and presented in accordance with GAAP) to PV-10. PV-10 should not be considered as an alternative to the standardized measure as computed under GAAP. ($ in millions) Standardized measure of discounted future net cash flows (GAAP) $3,320 $1,350 Add: Present value of future income taxes discounted at 10% $418 $147 PV-10 Total Proved reserves $3,738 $1,497 Less: PV-10 Proved Developed Non-Producing reserves $1,014 $349 PV-10 Proved Developed Producing reserves $2,724 $1,148 39
40 For More Information Julie S. Ryland Vice President Investor Relations
Strong Execution Continues in Q18 Investor Presentation
Strong Execution Continues in 2018 1Q18 Investor Presentation May 8, 2018 Forward-looking and Cautionary Statements Forward-looking Statement: All statements, other than statements of historical fact,
More informationTuesday, August 7,
NEWS ENERGEN CORPORATION 605 Richard Arrington Jr. Blvd. N. Birmingham, AL 35203-2707 For Release: 6:00 a.m. ET Contacts: Julie S. Ryland Tuesday, August 7, 2018 205.326.8421 ENERGEN PRODUCTION IN 2Q18
More informationInvestor Presentation HOWARD WEIL ENERGY CONFERENCE MARCH 2015
Investor Presentation HOWARD WEIL ENERGY CONFERENCE MARCH 2015 Forward-Looking Statements and Other Disclaimers This presentation contains forward-looking statements within the meaning of Section 27A of
More informationInvestor Presentation J.P. Morgan Global High Yield and Leveraged Finance Conference FEBRUARY 2016
Investor Presentation J.P. Morgan Global High Yield and Leveraged Finance Conference FEBRUARY 2016 Forward-Looking Statements and Other Disclaimers This presentation contains forward-looking statements
More informationPermian Basin Oil & Liquids Focus. IPAA OGIS New York
Permian Basin Oil & Liquids Focus IPAA OGIS New York April 16-17, 2012 Safe Harbor Disclosure This presentation contains statements expressing expectations of future plans, objectives, and performance
More information4Q Quarterly Update. February 19, 2019
4Q 2018 Quarterly Update February 19, 2019 Forward-Looking Statements and Other Disclaimers The foregoing contains forward-looking statements within the meaning of Section 27A of the Securities Act of
More informationDiamondback Energy, Inc. Announces Fourth Quarter and Full Year 2018 Financial and Operating Results
Announces Fourth Quarter and Full Year 2018 Financial and Operating Results February 19, 2019 MIDLAND, Texas, Feb. 19, 2019 (GLOBE NEWSWIRE) -- (NASDAQ: FANG) ( Diamondback or the Company ) today announced
More informationFirst Quarter 2011 Investor Update
First Quarter 2011 Investor Update FINANCIAL & OPERATING RESULTS MAY 4, 2011 Forward-looking statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities
More informationInvestor Presentation Bank of America Merrill Lynch Energy Credit Conference JUNE 2017
Investor Presentation Bank of America Merrill Lynch Energy Credit Conference JUNE 207 Forward-Looking Statements and Other Disclaimers This presentation contains forward-looking statements within the meaning
More informationQuarterly Update 1Q17 MAY 3, 2017
Quarterly Update Q7 MAY 3, 207 Forward-Looking Statements and Other Disclaimers This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 933 and
More information3Q Quarterly Update. October 30, 2018
3Q 2018 Quarterly Update October 30, 2018 Forward-Looking Statements and Other Disclaimers Forward-Looking Statements and Cautionary Statements The foregoing contains forward-looking statements within
More informationCorporate Presentation December 2017
Corporate Presentation December 2017 Forward-Looking / Cautionary Statements This presentation, including any oral statements made regarding the contents of this presentation, contains forward-looking
More informationInvestor Presentation NOVEMBER 2017
Investor Presentation NOVEMBER 207 Forward-Looking Statements and Other Disclaimers This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 933
More informationHoward Weil 46 th Annual Energy Conference MARCH 2018
Howard Weil 46 th Annual Energy Conference MARCH 2018 Forward-Looking Statements and Other Disclaimers This presentation contains forward-looking statements within the meaning of Section 27A of the Securities
More informationTudor Pickering Holt & Co. Hotter N Hell Energy Conference June 20-22, 2017
Tudor Pickering Holt & Co Hotter N Hell Energy Conference June 20-22, 2017 Forward-Looking / Cautionary Statements This presentation, including any oral statements made regarding the contents of this presentation,
More informationInvestor Presentation SEPTEMBER 2017
Investor Presentation SEPTEMBER 207 Forward-Looking Statements and Other Disclaimers This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 933
More informationParsley Energy Overview
INVESTOR PRESENTATION September 2016 Parsley Energy Overview Investment Summary Premier Acreage Position (2) Leading growth profile Robust returns Strategic acquirer Strong financial position Abundant
More informationConcho Resources Inc. Reports Fourth-Quarter and Full-Year 2018 Results; Updates 2019 Outlook
Press Release Reports Fourth-Quarter and Full-Year 2018 Results; Updates 2019 Outlook Delivers Strong 2018 Results from Large-Scale Development Efficiencies Provides Updated 2019 Outlook Reinforcing Focus
More information2016 Results and 2017 Outlook
2016 Results and 2017 Outlook March 2, 2017 Cautionary Statement Regarding Forward-Looking Statements This presentation includes certain forward-looking statements and projections of EP Energy. EP Energy
More informationCentennial Resource Development Announces Full Year 2017 Results, 2017 Year-End Reserves, 2018 Guidance and Increases 2020 Oil Production Target
Centennial Resource Development Announces Full Year 2017 Results, 2017 Year-End Reserves, 2018 Guidance and Increases 2020 Oil Production Target DENVER, CO, February 26, 2018 (GLOBE NEWSWIRE) - Centennial
More informationInvestor Presentation. March 2019
Investor Presentation March 2019 Forward-Looking Statements and Other Disclaimers The foregoing contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended,
More informationInvestor Presentation February 2014
Investor Presentation February 2014 Forward Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
More informationParsley Energy Overview
INVESTOR PRESENTATION December 216 Parsley Energy Overview Poised to Outperform post-opec Faster production ramp Parsley Energy Leasehold Premier Acreage Position (1) Ongoing resource expansion Advantaged
More information2Q Quarterly Update. August 1, 2018
2Q 2018 Quarterly Update August 1, 2018 Forward-Looking Statements and Other Disclaimers Forward-Looking Statements and Cautionary Statements The foregoing contains forward-looking statements within the
More informationDiamondback Energy, Inc.
Management Travis Stice, President and CEO Teresa Dick, CFO Jeffrey White, VP Operations Michael Hollis, VP Drilling Randall Holder, VP & Gen Counsel www.diamondbackenergy.com EPG Commentary by Dan Steffens
More informationConcho Resources Inc. Reports Third-Quarter 2018 Results
Press Release Concho Resources Inc. Reports Third-Quarter 2018 Results Exceeds Production Guidance Provides Outlook for 2019 and 2020 Announces Plan to Initiate Dividend Midland, Texas, October 30, 2018
More informationFirst Quarter 2018 Results MAY 2, 2018
First Quarter 2018 Results MAY 2, 2018 Forward-looking statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of
More information4 TH QUARTER EARNINGS PRESENTATION FEBRUARY 27, 2018
4 TH QUARTER EARNINGS PRESENTATION FEBRUARY 27, 2018 Important Disclosures Forward-Looking Statements This presentation contains projections and other forward-looking statements within the meaning of Section
More informationHoward Weil Energy Conference
Howard Weil Energy Conference Brent Smolik Chairman, President and Chief Executive Officer EP Energy Corporation March 26, 2014 Forward Looking Statements This March 26, 2014 presentation includes certain
More informationInvestor Presentation. November 2018
Investor Presentation November 2018 Forward-Looking Statements and Other Disclaimers Forward-Looking Statements and Cautionary Statements The foregoing contains forward-looking statements within the meaning
More informationConcho Resources Inc. Reports Fourth-Quarter and Full-Year 2017 Results and Provides 2018 Outlook
Press Release Concho Resources Inc. Reports Fourth-Quarter and Full-Year 2017 Results and Provides 2018 Outlook Exceeds Crude Oil and Total Production Growth Guidance Increases Total Resource Potential
More information2015 Results and 2016 Outlook February 19, 2016
Results and 2016 Outlook February 19, 2016 Cautionary Statement Regarding Forward-Looking Statements This presentation includes certain forward-looking statements and projections of EP Energy. EP Energy
More informationPARSLEY ENERGY ANNOUNCES FOURTH QUARTER 2017 FINANCIAL AND OPERATING RESULTS; ANNOUNCES OFFICER PROMOTIONS AUSTIN,
NEWS RELEASE PARSLEY ENERGY ANNOUNCES FOURTH QUARTER 2017 FINANCIAL AND OPERATING RESULTS; ANNOUNCES OFFICER PROMOTIONS AUSTIN, Texas, February 21, 2018 Parsley Energy, Inc. (NYSE: PE) ( Parsley, Parsley
More information2018 DUG Permian Basin Conference
2018 DUG Permian Basin Conference Southern Midland Basin Update J. Ross Craft Chairman & CEO MAY 22, 2018 Forward-looking statements This presentation contains forward-looking statements within the meaning
More informationAbraxas Caprito 98 #201H; Ward Cty., TX
Abraxas Caprito 98 #201H; Ward Cty., TX Abraxas Petroleum Corporation September 2018 Forward Looking Statements The information presented herein may contain predictions,estimates and other forward looking
More informationCALLON PETROLEUM COMPANY
CALLON PETROLEUM COMPANY Acquisition Overview April 2016 2 IMPORTANT DISCLOSURES FORWARD-LOOKING STATEMENTS This presentation contains projections and other forward-looking statements within the meaning
More informationConcho Resources Inc. Reports Third Quarter 2017 Results
Press Release Concho Resources Inc. Reports Third Quarter 2017 Results Midland, Texas, October 31, 2017 Concho Resources Inc. (NYSE: CXO) (the Company or Concho ) today reported financial and operating
More informationConcho Resources Inc. Reports Fourth Quarter and Full-Year 2014 Results
NEWS RELEASE Concho Resources Inc. Reports Fourth Quarter and Full-Year 2014 Results 2/25/2015 MIDLAND, Texas--(BUSINESS WIRE)-- Concho Resources Inc. (NYSE:CXO) (the Company or Concho ) today reported
More informationPARSLEY ENERGY ANNOUNCES FIRST QUARTER 2017 FINANCIAL AND OPERATING RESULTS; RAISES PRODUCTION GUIDANCE AND LOWERS UNIT COST ESTIMATES
NEWS RELEASE PARSLEY ENERGY ANNOUNCES FIRST QUARTER 2017 FINANCIAL AND OPERATING RESULTS; RAISES PRODUCTION GUIDANCE AND LOWERS UNIT COST ESTIMATES AUSTIN, Texas, May 4, 2017 Parsley Energy, Inc. (NYSE:
More informationAbraxas Petroleum. Corporate Update. April Raven Rig #1; McKenzie County, ND
Abraxas Petroleum Corporate Update April 2018 Raven Rig #1; McKenzie County, ND Forward Looking Statements The information presented herein may contain predictions,estimates and other forward looking statements
More informationDiamondback Energy, Inc. Announces Second Quarter 2018 Financial and Operating Results and Announces Accretive Acquisition
Announces Second Quarter 2018 Financial and Operating Results and Announces Accretive Acquisition August 8, 2018 MIDLAND, Texas, Aug. 08, 2018 (GLOBE NEWSWIRE) -- (NASDAQ:FANG) ( Diamondback or the Company
More informationCentennial Resource Development Announces First Quarter 2018 Financial and Operational Results
Centennial Resource Development Announces First Quarter 2018 Financial and Operational Results DENVER, CO, May 8, 2018 (GLOBE NEWSWIRE) - Centennial Resource Development, Inc. ( Centennial or the Company
More informationCentennial Resource Development Announces First Quarter 2018 Financial and Operational Results
Centennial Resource Development Announces First Quarter 2018 Financial and Operational Results DENVER, CO, May 8, 2018 (GLOBE NEWSWIRE) - Centennial Resource Development, Inc. ( Centennial or the Company
More informationCorporate Presentation February 26, 2015
Corporate Presentation February 26, 205 Forward-Looking / Cautionary Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 933 and
More informationAbraxas Caprito 98 #201H; Ward Cty., TX
Abraxas Caprito 98 #201H; Ward Cty., TX Abraxas Petroleum Corporation August 2018 Forward-Looking Statements The information presented herein may contain predictions, estimates and other forward-looking
More informationNEWS RELEASE DAWSON. Parsley Energy Leasehold Acquired Leasehold MARTIN HOWARD GLASSCOCK MIDLAND UPTON REAGAN
NEWS RELEASE PARSLEY ENERGY ANNOUNCES CONSOLIDATING MIDLAND BASIN ACQUISITION, REVISES 2017 CAPITAL PROGRAM AND OPERATING GUIDANCE, AND PROVIDES UPDATES ON 4Q16 OPERATIONS, YEAR-END 2016 RESERVES, AND
More informationCALLON PETROLEUM COMPANY
CALLON PETROLEUM COMPANY Louisiana Energy Conference June 2016 2 IMPORTANT DISCLOSURES FORWARD-LOOKING STATEMENTS This presentation contains projections and other forward-looking statements within the
More informationCORRECTED: Diamondback Energy, Inc. Announces Second Quarter 2017 Financial and Operating Results
August 1, 2017 CORRECTED: Announces Second Quarter 2017 Financial and Operating Results MIDLAND, Texas, Aug. 01, 2017 (GLOBE NEWSWIRE) -- (NASDAQ:FANG) ("Diamondback" or the "Company") today announced
More informationQ E a r n i n g s. M a y 3, 2018
Q 1 2 0 1 8 E a r n i n g s M a y 3, 2018 FORWARD-LOOKING STATEMENTS Except for historical information contained herein, the statements in this presentation are forward-looking statements that are made
More informationRBC Capital Markets Global Energy & Power Conference. June 7, 2017
RBC Capital Markets Global Energy & Power Conference June 7, 2017 Cautionary Statement Regarding Forward-Looking Statements This presentation includes certain forward-looking statements and projections
More informationEnerCom- The Oil & Gas Conference
EnerCom- The Oil & Gas Conference Clay Gaspar, Chief Operating Officer August 16, 2016 WPX Highlights 2Q ACTION ITEMS COMPLETED $538MM EQUITY OFFERING WILLISTON BASIN ACQUIRED 7,800 NET ACRES IN DELAWARE
More informationFourth-Quarter & Full-Year 2018 Earnings Presentation
Fourth-Quarter & Full-Year 2018 Earnings Presentation Forward-Looking / Cautionary Statements This presentation, including any oral statements made regarding the contents of this presentation, contains
More informationInvestor Presentation. February 2018
Investor Presentation February 2018 Forward Looking Statements & Non GAAP Financial Measures This presentation includes forward looking statements within the meaning of Section 27A of the Securities Act
More informationOil Price and the Southern Midland Basin
Oil Price and the Southern Midland Basin J. Ross Craft / Chairman, President and CEO May 20, 2015 Forward-looking statements This presentation contains forward-looking statements within the meaning of
More informationInvestor Presentation August 2016
1 Investor Presentation August 2016 Forward Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
More informationCorporate Presentation February 2018
Corporate Presentation February 2018 Forward-Looking / Cautionary Statements This presentation, including any oral statements made regarding the contents of this presentation, contains forward-looking
More informationInvestor Presentation. July 2017
Investor Presentation July 2017 Forward Looking Statements & Non GAAP Financial Measures This presentation includes forward looking statements within the meaning of Section 27A of the Securities Act of
More informationCentennial Resource Development Announces Third Quarter 2018 Financial and Operational Results
Centennial Resource Development Announces Third Quarter 2018 Financial and Operational Results DENVER, CO, November 5, 2018 (GLOBE NEWSWIRE) - Centennial Resource Development, Inc. ( Centennial or the
More informationDelaware Basin Panther Energy Acquisition. January 12, 2017
Delaware Basin Panther Energy Acquisition January 12, 2017 Expanding WPX s World-Class Delaware Position OVERVIEW 18,000+ acres in core of Delaware EDDY 920 gross locations, including 150+ long lateral
More informationACQUISITION OVERVIEW DELAWARE BASIN BOLT-ON ACQUISITION
ACQUISITION OVERVIEW DELAWARE BASIN BOLT-ON ACQUISITION Important Disclosures FORWARD-LOOKING STATEMENTS This presentation contains projections and other forward-looking statements within the meaning of
More informationYE-17 Reserves & 2018 Budget Presentation January 2018
YE-17 Reserves & 2018 Budget Presentation January 2018 Forward-Looking / Cautionary Statements This presentation, including any oral statements made regarding the contents of this presentation, contains
More informationJ.P. Morgan Energy Equity Conference
J.P. Morgan Energy Equity Conference Rick Muncrief, President and CEO June 27 th, 2016 Recent Highlights COMPLETED $540MM EQUITY RAISE ~$1.2B IN COMPLETED ASSETS SALES STRONG BALANCE SHEET PROVIDES OPTIONALITY
More information1Q Quarterly Update. May 1, 2018
1Q 2018 Quarterly Update May 1, 2018 Forward-Looking Statements and Other Disclaimers No Offer or Solicitation This presentation relates to a proposed business combination transaction (the Transaction
More informationCorporate Presentation March 2017
Corporate Presentation March 2017 Forward-Looking / Cautionary Statements This presentation, including any oral statements made regarding the contents of this presentation, contains forward-looking statements
More informationINVESTOR PRESENTATION 3Q»2017
Q4 2018 Earnings Presentation February 21, 2019 INVESTOR PRESENTATION 3Q»2017 Forward Looking & Cautionary Statements Forward-Looking Statements The information in this presentation includes forward-looking
More informationScotia Howard Weil 45 th Annual Energy Conference March 27, 2017
Scotia Howard Weil 45 th Annual Energy Conference March 27, 2017 Forward-Looking / Cautionary Statements This presentation, including any oral statements made regarding the contents of this presentation,
More informationCorporate Presentation March 2018
Corporate Presentation March 2018 Forward-Looking / Cautionary Statements This presentation, including any oral statements made regarding the contents of this presentation, contains forward-looking statements
More informationAbraxas Petroleum. Corporate Update. February Raven Rig #1; McKenzie County, ND
Abraxas Petroleum Corporate Update February 2018 Raven Rig #1; McKenzie County, ND Forward Looking Statements The information presented herein may contain predictions,estimates and other forward looking
More information2017 SUMMARY ANNUAL REPORT
2017 SUMMARY ANNUAL REPORT ENERGEN CORPORATION 605 Richard Arrington Jr. Blvd. N. Birmingham, Alabama 35203-2707 CORPORATE PROFILE Energen Corporation is an independent oil and gas exploration and production
More informationInvestor Presentation. June 2018
Investor Presentation June 2018 Forward-Looking Statements and Other Disclaimers No Offer or Solicitation This presentation relates to a proposed business combination transaction (the Transaction ) between
More informationCallon Petroleum Company Announces First Quarter 2017 Results
Exhibit 99.1 Callon Petroleum Company Announces First Quarter 2017 Results Natchez, MS (May 2, 2017) - Callon Petroleum Company (NYSE: CPE) ( Callon or the Company ) today reported results of operations
More informationPARSLEY ENERGY ANNOUNCES FOURTH QUARTER 2018 FINANCIAL AND OPERATING RESULTS AUSTIN,
NEWS RELEASE PARSLEY ENERGY ANNOUNCES FOURTH QUARTER 2018 FINANCIAL AND OPERATING RESULTS AUSTIN, Texas, February 21, 2019 Parsley Energy, Inc. (NYSE: PE) ( Parsley, Parsley Energy, or the Company ) today
More informationBank of America Merrill Lynch 2018 Energy Credit Conference. June 2018
Bank of America Merrill Lynch 2018 Energy Credit Conference June 2018 Forward-Looking Statements and Other Disclaimers No Offer or Solicitation This presentation relates to a proposed business combination
More informationCore Oil Delaware Basin Pure-Play. Third Quarter 2018 Earnings Presentation. November 5, 2018
Core Oil Delaware Basin Pure-Play Third Quarter 2018 Earnings Presentation November 5, 2018 Important Information Forward-Looking Statements The information in this presentation includes forward-looking
More informationPERMANIA: The Compelling Attraction and Development Challenges. A Look at the Northern Midland Basin
PERMANIA: The Compelling Attraction and Development Challenges. A Look at the Northern Midland Basin April 12, 2017 SPEE Denver Chapter Meeting Andrew Forcina, P.E. Forward Looking Statements & Non GAAP
More information4Q 2017 Earnings Presentation February 27, 2018 CRZO
4Q 217 Earnings Presentation February 27, 218 Forward Looking Statements / Note Regarding Reserves This presentation contains statements concerning the Company s intentions, expectations, beliefs, projections,
More informationFEBRUARY EARNINGS PRESENTATION
FEBRUARY 2018 2017 EARNINGS PRESENTATION Certain Disclosures Forward Looking Statements This presentation contains forward-looking statements. These forward-looking statements can be identified by use
More informationAbraxas Petroleum. Corporate Update. March Raven Rig #1; McKenzie County, ND
Abraxas Petroleum Corporate Update March 2018 Raven Rig #1; McKenzie County, ND Forward Looking Statements The information presented herein may contain predictions,estimates and other forward looking statements
More informationLaredo Petroleum Announces 29% Growth in Year-End Proved Reserve Estimates
15 West 6 th Street, Suite 900 Tulsa, Oklahoma 74119 (918) 513-4570 Fax: (918) 513-4571 www.laredopetro.com Laredo Petroleum Announces 29% Growth in Year-End Proved Reserve Estimates 2018 Capital Budget
More informationEnerCom Dallas Rick Muncrief, Chairman & CEO March 1, 2017
EnerCom Dallas 2017 Rick Muncrief, Chairman & CEO March 1, 2017 Bias for Action (MAY 2014 MAY 2016) WE BUILT A BRAND NEW COMPANY 2 WPX s Portfolio PRODUCT MIX DELAWARE WELL ECONOMICS Flat $54.09 Oil and
More informationDecember 2018 Corporate Presentation
December 218 Corporate Presentation Forward-Looking / Cautionary Statements This presentation, including any oral statements made regarding the contents of this presentation, contains forward-looking statements
More informationInvestor Presentation. October 2017
Investor Presentation October 2017 Forward Looking Statements This presentation contains forward-looking statements within the meaning of the securities laws. All statements, other than statements of historical
More information2017 Permian Basin Acquisition. July 26, 2017
2017 Permian Basin Acquisition July 26, 2017 Forward Looking Statements & Non GAAP Financial Measures This presentation includes forward looking statements within the meaning of Section 27A of the Securities
More informationAbraxas Petroleum. Corporate Update. May Raven Rig #1; McKenzie County, ND
Abraxas Petroleum Corporate Update May 2018 Raven Rig #1; McKenzie County, ND Forward-Looking Statements The information presented herein may contain predictions, estimates and other forward-looking statements
More informationThird Quarter 2017 Supplement. October 2017 NBL
Third Quarter 2017 Supplement October 2017 3Q17 KEY HIGHLIGHTS Solid and differential operational execution Volumes Significantly Exceeding Original Expectations Volumes of 355 MBoe/d, 10 MBoe/d above
More informationScotia Howard Weil 2017 Energy Conference. Rick Muncrief, Chairman & CEO March 27, 2017
Scotia Howard Weil 2017 Energy Conference Rick Muncrief, Chairman & CEO March 27, 2017 WPX s Portfolio PRODUCT MIX DELAWARE WELL ECONOMICS Flat $54.09 Oil and $2.91 Gas 1 16% NGL 30% GAS DELAWARE LONG
More informationUniversity of Texas at Austin Energy Symposium 2013 Energy Innovation and Entrepreneurship
April 30, 2013 University of Texas at Austin Energy Symposium 2013 Energy Innovation and Entrepreneurship NYSE: LPI www.laredopetro.com Forward-Looking / Cautionary Statements This presentation (which
More informationTotal production of 68,328 Boe/d, 9% above the fourth quarter of 2017 and 6% above the third quarter of 2018
News PRESS RELEASE Contact: Jeffrey P. Hayden, CFA, VP - Investor Relations (713) 328-1044 Kim Pinyopusarerk, Manager - Investor Relations (713) 358-6430 CARRIZO OIL & GAS ANNOUNCES FOURTH QUARTER AND
More informationScotia Howard Weil Energy Conference. March 2017
Scotia Howard Weil Energy Conference March 2017 2 Forward-Looking Information Cautionary Statement for the Purpose of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995
More informationScotia Howard Weil Energy Conference
Scotia Howard Weil Energy Conference Rick Muncrief, President and CEO March 2-22, 206 Premier Asset Portfolio Coming Into Focus 2 WPX Profile: World-Class Delaware Position WPX TODAY World-Class Delaware
More informationInvestor Update. June 2015
Investor Update June 2015 Cautionary Statement Regarding Forward-Looking Statements This presentation includes certain forward-looking statements and projections of EP Energy. EP Energy has made every
More informationRSP Permian Investor Presentation November 2014
RSP Permian Investor Presentation November 2014 Forward-Looking Information Certain statements and information in this presentation may constitute forward-looking statements within the meaning of the Private
More informationCore Oil Southern Delaware Basin
Core Oil Southern Delaware Basin Silverback Exploration Acquisition Overview November 2016 Important Information Forward-Looking Statements The information in this presentation includes forward-looking
More informationAbraxas Petroleum. Corporate Update. May Raven Rig #1; McKenzie County, ND
Abraxas Petroleum Corporate Update May 2017 Raven Rig #1; McKenzie County, ND Forward-Looking Statements The information presented herein may contain predictions, estimates and other forward-looking statements
More informationFOURTH QUARTER 2017 EARNINGS CALL FEBRUARY 22, 2018
FOURTH QUARTER 2017 EARNINGS CALL FEBRUARY 22, 2018 Recent Highlights OPERATIONAL Oil grew 68% 1 Set well productivity records in the Williston 2 Strong long-lateral results in the Delaware FINANCIAL Unhedged
More informationCALLON PETROLEUM COMPANY. IPAA Conference: Houston, TX April 21, 2016
CALLON PETROLEUM COMPANY IPAA Conference: Houston, TX April 21, 2016 IMPORTANT DISCLOSURES FORWARD-LOOKING STATEMENTS This presentation contains projections and other forward-looking statements within
More informationInvestor Presentation. February 2019
Investor Presentation February 2019 Forward Looking Statements This presentation contains forward-looking statements within the meaning of the securities laws. All statements, other than statements of
More informationRSP Permian Investor Presentation September 2014
RSP Permian Investor Presentation September 2014 Forward-Looking Information Certain statements and information in this presentation may constitute forward-looking statements within the meaning of the
More informationBulking Up In The Permian Basin August 2016
Bulking Up In The Permian Basin August 2016 Please Read This presentation makes reference to: Forward-looking statements This release contains forward-looking statements within the meaning of securities
More informationMaking the Permian Great Again Zane Arrott, Chief Operating Officer January 18, 2017
Making the Permian Great Again Zane Arrott, Chief Operating Officer January 18, 217 Forward-Looking Statements Certain statements and information in this presentation may constitute forward-looking statements
More information