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2016 Louisiana Energy Conference . June 1, 2016 New Orleans, LA

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Presentation on theme: "2016 Louisiana Energy Conference . June 1, 2016 New Orleans, LA"— Presentation transcript:

1 2016 Louisiana Energy Conference . June 1, 2016 New Orleans, LA

2 Operational Overview Current production:
Breton Sound/ Palmetto offshore ~2,820 Boed (36% oil) Jaspo onshore ~2,360 Boed (11% oil) Strong, positive cash from operations in current strip environment Additional organic growth opportunitues

3 Management Overview Michael Willis President > 20 years of energy industry leadership roles primarily focused in the GOM federal and state waters Well versed in all aspects of the business; focused on safety and environmental responsibility and working with stakeholders with integrity and transparency Mark Wojna VP Exploration Discovered > 200 BCF and 20 million barrels of oil in GOM federal and state waters and SE Louisiana Detailed knowledge of regional subsurface in those areas; ability to distinguish valid hydrocarbon plays utilizing the latest seismic processing Tony Richards VP Engineering Experienced engineering professional with career focus on team leadership, reservoir engineering, reserves analysis and reporting, and economic evaluation Increasing responsibility with E&P companies covering full spectrum of enterprise size and ranging from production to exploration oriented firms Highly Skilled Leadership Team with a Proven Track Record of Success That Has Worked Together for an Average of 15 Years

4 Operational Highlights
Q production ~4,700 Boed ~25% Oil, 75% Gas LOE has been reduced ~70% year over year Operational efficiencies, lower service costs and lower personnel costs Reserves as of 1/31/16 Total proved reserves of ~7MMBOE HSE milestones and accomplishments Zero lost time accidents over the last 5 years G&A has been reduced ~63% Consolidated from three offices to one Upstream currently staffed to take on exploration and follow on capital projects

5 Value Adding Portfolio
Strong Base Production Split between shallow water LA and onshore TX Building cash flow in current strip price environment Operational Excellence Significantly reduced costs Zero lost time accidents in 5 years Additional Organic Growth Opportunities High probability of success Increased oil weighting, enhancing economics Meaningful increase to production and cash flow Debt Free Balance Sheet Cash flow growth increases optionality for reinvestment opportunities Upstream is Well Positioned to Capitalize on the Current Opportunities

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