Attached files
| file | filename |
|---|---|
| 8-K - ROSE 2Q13 EARNINGS RELEASE PRESENTATION - NBL Texas, LLC | rose8k_erpresentation.htm |
Exhibit 99.1
Rosetta Resources Inc.
Second Quarter 2013 Earnings Review
August 6, 2013
Earnings Call Agenda
Overview Jim Craddock
Financial Update John Hagale
Operational Update John Clayton
Closing Remarks Jim Craddock
2
Overview - Jim Craddock
• Closed the Permian Acquisition, adding a new core operating area
and entry into the basin
and entry into the basin
• Acquired additional working interest in core Gates Ranch asset
• Completed successful Eagle Ford discovery wells delineating two
additional leases
additional leases
• Set an all-time record in daily equivalent production
• Recorded sequential Eagle Ford daily equivalent production growth
for the 14th consecutive quarter
for the 14th consecutive quarter
3
Financial Update - John Hagale
• Higher adjusted net income and revenues for quarter primarily due to
increased production
increased production
• Net income adversely impacted by additional $6.8 million of transaction
and financing costs related to the Permian acquisition
and financing costs related to the Permian acquisition
• Second quarter revenues reflect 53% from oil sales; 80% from liquids
• Second quarter expenses include contribution from higher cost Permian
assets since May 14 closing date
assets since May 14 closing date
• Active hedging program continued with new swaps and collars in place
4
5
2013 Annual Guidance
Operational Update - John Clayton
• Spent $188 MM in second quarter 2013 capex; drilled 30 gross wells and
completed 22 (18 Eagle Ford)
completed 22 (18 Eagle Ford)
• Second quarter 2013 total production of 48.8 MBoe/d (25% oil / 37% NGLs)
• Operational interruptions adversely impacted quarterly production; curtailment
at Gates Ranch and temporary shut-ins at Klotzman
at Gates Ranch and temporary shut-ins at Klotzman
• Operated five rigs; mostly at Gates Ranch, Briscoe Ranch, Central Dimmit, and
the Karnes Trough area
the Karnes Trough area
• Operated three - four rigs in Permian, Reeves County
• At quarter-end, 45 Eagle Ford and 2 Permian wells drilled awaiting completion
2013 Annual Guidance
• Reaffirmed capital estimate to range from $840 - $900 MM, excluding acquisition
capital
capital
• Reaffirmed annual production guidance to 51 - 55 MBoe/d
6
Quarterly Production Performance
7
Summary
6/30/2013
Briscoe Ranch (Column Development Program)
• 3,545 net acres in southern
Dimmit County
Dimmit County
• 64 net well locations remaining
8
Lopez Farm-In
• 505 net acres in Live Oak County
• Farm-In from Killam Oil
• BPO: 100% WI, 75% NRI
• APO: 65% WI, 48.75% NRI
• 7-day gross stabilized IP 1,966 Boe/d
(46% oil / 24% NGLs)
(46% oil / 24% NGLs)
• 7 net well locations remaining
Summary
6/30/2013
9
2Q 2013: 1 completion
Tom Hanks
• ~3,500 net acres in LaSalle County
• 2 gross total completions
• Well Costs $5.5 - $7.0 MM
• ~ 60-acre spacing (~500 feet apart)
Summary
6/30/2013
10
1 EF well drilled yet to be completed
2Q 2013: 1 EF completion
Eagle
Ford
• 1 completion - discovery well
• 7-day stabilized IP 657 Boe/d (91% oil)
• 44 net well locations remaining
• 1 well drilled awaiting completion
Pearsall
• 1 completion - exploration
• Un-stabilized test rate at 5 MMcf/d
• Gas content includes 1% H2S
Pearsall
Well
Eagle Ford
Well
Total Company Inventory
+/- 2,400 wells -- remaining as of 6/30/2013
+/- 2,400 wells -- remaining as of 6/30/2013
11
Forward-Looking Statements and Terminology Used
12