Extraction Oil & Gas — Debt Investor Presentation (June 2020)
10 slides from Extraction Oil & Gas's debt investor presentation, Jun 15, 2020
Slide 1: Overview of Business Plan Assumptions
M a y 2 4 2 0 2 0 OVERVIEW OF UPDA BUSINESS PLAN ASSUMPTIONS HIGHLY CONFIDENTIAL – SUBJECT TO TERMS OF CONFIDENTIALITY AGREEMENTS – SUBJECT TO SUBSTANTIAL REVISION
Slide 2: Important Notice to Recipients
Important Notice to Recipients THIS CONFIDENTIAL PRESENTATION CONTAINS MATERIAL NON - PUBLIC INFORMATION CONCERNING EXTRACTION OIL & GAS, INC. (“EXTRACTION”) ITS AFFILIATES, OR THEIR RESPECTIVE SECURITIES (COLLECTIVELY, “COMPANY SECURITIES”). BY ACCEPTING THIS CONFIDENTIAL PRESENTATION, YOU AGREE TO
Slide 3: Overview of Business Plan Assumptions
$31 $31 $31 $31 $1 . 0 9 $1 . 1 3 $1 . 0 8 $1 . 1 8 2 0 2 4 E Cash S e v e r a n c e Costs Cash G&A $ / Boe 2020E 2021E 2022E 2023E (1) Does not include hedge gains or losses (2) Includes production taxes (severance and ad valorem taxes) and other operating costs; excludes exploration and abandonmen
Slide 4: Overview of Business Plan Assumptions
Overview of Business Plan Assumptions 3 HIGHLY CONFIDENTIAL – SUBJECT TO TERMS OF CONFIDENTIALITY AGREEMENTS – SUBJECT TO SUBSTANTIAL REVISION (1) XOG Operated Wells ▪ Presentation materials reflect management’s current 5 year business plan as of 05/22/20, and does not assume any operational or fina
Slide 5: Overview of Business Plan Assumptions
Pad A Pad B Pad C Pad D Pad E Pad F Pad G Pad H Overview of Business Plan Assumptions 4 (1) Excludes 5% contingency (2) Type curves representative of 2.0 mile lateral lengths, weighted by number of wells TIL in projection period (3) Excludes $47mm of contractual payments to Elevation Midstream assum
Slide 6: Financial Forecast Summary
5 Financial Forecast Summary CUMULATIVE UNLEVERED FREE CASH FLOW 2 ADJ. EBITDAX MARGIN PER BOE ($M M ) ($/BOE) ($M M ) (1) Does not include hedge gains or losses (2) Represents EBITDAX less exploration expense, changes in net working capital and capital expenditures ($M M ) HIGHLY CONFIDENTIAL – SUB
Slide 7: Financial Forecast Summary
Financial Forecast Summary Note April 30 2020 cash balance of ~$137mm, outstanding RBL balance of ~$590mm and ~$50mm of LOCs (1) Elevation payment factored into Changes in Net Working Capital 6 HIGHLY CONFIDENTIAL – SUBJECT TO TERMS OF CONFIDENTIALITY AGREEMENTS – SUBJECT TO SUBSTANTIAL REVISION ($
Slide 8: Summary of Reserves Database
Summary of Reserves Database 7 PROVED RESERVES BY RESERVE CATEGORY PROVED RESERVES BY RESOURCE Note PV - 10 calculated using NYMEX strip as of 5/22/20; reserves database effective date as of 5/1/20; does not include value for hedges in place, G&A, non - D&C CapEx, MVC deficiency payments or other it
Slide 9: Hedge Book Summary
Hedge Book Summary 8 ▪ Presentation materials reflect management’s current 5 year business plan as of 05/22/20, and does not assume any operational or financial adjustments associated with a potential restructuring process Note Hedge positions as of 4/30/2020 pro forma for ABN AMRO long - dated hedg
Slide 10: Midstream Contract Summary
Midstream Contract Summary 9 HIGHLY CONFIDENTIAL – SUBJECT TO TERMS OF CONFIDENTIALITY AGREEMENTS – SUBJECT TO SUBSTANTIAL REVISION ▪ Presentation materials reflect management’s current 5 year business plan as of 05/22/20, and does not assume any operational or financial adjustments associated with
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