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Stone Energy (SGY)
Welcome STEM Teachers NOIA, Scottsdale, AZ
October 2015
Achieving Milestones
2
Energy Lifts People Out of Poverty Enabling Machine Powered Labor
Power Factories, Tractors, Trucks, Cars, Trains, Planes, Computers Heat & Cool Buildings, Factories, Homes and Light the Night
Power Factories, Tractors, Trucks, Cars, Trains, Planes, Ships, Computers, Media Heat & Cool Buildings & Homes, Provide Petrochemicals, and Light the Night
Achieving Milestones
3 16
Population Slide
Population Growth & Standard of Living Drives Energy Demand
Achieving Milestones
4
Every Well Worldwide Declines As Its Reservoir Depletes
Source: EIA Annual Energy Outlook 2013; Chevron media
Global Crude Oil Supply and Demand
100
MMBD
2013
80
60
40
20
2030
Demand
Existing Base Production
200 Billion Barrels Required Between
2013-2030
Decline in mature fields
$8 trillion investment
Achieving Milestones
5
Oil Prices Cannot Stay Below the Marginal Cost of Supply for Long
100
Percent of 2013 to 2020 Growth
80
60
40
20
Source: EIA Annual Energy Outlook 2013; Chevron media
U.S. Tight
Deepwater
Onshore and Shallow
OPEC
Oil Sands
Liquids Productive Capacity
International Tight
$ per Barrel Brent Breakeven Range by Asset Class
120
80
40
OPEC Onshore and Shallow
Deepwater US Tight Oil Sands International Tight
Weighted Average Price
Achieving Milestones
6
Transformational Breakthroughs Have Increased Energy Supply
Deep Water Exploration and
Production Technologies
Horizontal Drilling and
Fracturing
Achieving Milestones
7
Environmental Protection Agency Declares Frac Technology Safe
EPA Study
• 4 Year Effort • Multi Million $$$ • 6,800 Water Sources • 9.4 Million People 1 Mile • 25,000 Frac Sites Since 2011
Conclusions • No Systemic Harm to Water • No Single Case of Contamination
EPA Now Admits Fracking Hasn’t Harmed Water Supplies
Achieving Milestones
8
Gulf of Mexico
Utica Marcellus
Stone is Focused in Lowest (Non-OPEC) Cost of Supply Basins
$-
$1.00
$2.00
$3.00
$4.00
$5.00
$6.00
Per
mian
Utica
SW rich Marcellus
Granite W
Niobrara
NE dry Marcellus
Eagle Ford
Fayetteville
Barnett
Haynesville
Cumulative Production Growth 2013-2020(Bcfd)
NYM
EX B
reak
dow
n fo
r 15%
ATA
X IR
R
Gas Supply Cost
0
20
40
60
80
100
120
140
US DW
Montney
Duvernay
Niobrara
Oil Sands (Mining)
Wolfcamp Bakken Bone Spring Eagle
Ford
Utica
Alaska
Oil Sands SAGD GOM
Lwr Tert
Cardium
US$
/bbl
(Bre
nt)
Oil Supply Cost
Commercial oil and condensate reserves –undrilled locations and future project only (mmbbl) Source: Wood Mackenzie
Stone focus areas
0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000
-5.6 -2.8 0.0 2.8 5.6 8.4 11.2 14.0 16.8 19.6
Stone
Stone
Source: Credit Suisse
Achieving Milestones
9
Lafayette
Houston New Orleans
Mica Deep ST
Goodfellow
Kuskulana
Rialto
Apple
Ruby Pyrope
Aries
Guadalupe
Carrick
Phinisi
Parmer
Stone Has a Large & Long Term Portfolio of Deepwater Projects and Leases
• 110 Deep Water leases
• 20 High potential prospects
• 17 Tie back exploration projects
• 10 Platform development wells
• 3 Tieback development prospects
Lamprey
Amethyst
Rampart
Legend 2015-17 Prospect
Enterprise
MP288
SS 113 Derbio
Drago Moore
Vernaccia Harrier
Pompano Cardona
Amberjack
Horned Lark
* Gross Estimated Ultimate Recoveries, P90 - P10 internal estimate
Prospect
Crown Anchor Vernaccia Apple Derbio Lamprey Kuskulana Rampart Rialto Goodfellow
WI
10% 32%
100% 100% 100%
33% 100%
50% 13%
EUR*
12 8-124
38-407 16-94
104-547 12-67 11-70
14-175 88-800
mmboe
Achieving Milestones
10
Land Loss in Southeast Louisiana Is a Continuing Process
Achieving Milestones
11
The Coast Was Formed By the Mississippi Spewing Sediments in Shallow Water
6 2 1 0 5 4 3 Thousand Years Before Present
Achieving Milestones
12
5,500 Years Before Present Most of the Coast Didn’t Exist
1
Stonehenge
Pine Islands
6 2 1 0 5 4 3 Thousand Years Before Present
Achieving Milestones
13
New Orleans Was an Offshore Barrier Island 5,500 Years Ago
Achieving Milestones
14
4,500 Years Before Present Land Started Forming at a Rapid Rate
6 2 1 0 5 4 3
2 3
Pyramids of Giza
Thousand Years Before Present
Achieving Milestones
15
3,500 Years Before Present Land Was Both Growing and Sinking
6
4
5
7
Linear B Writing
6 2 1 0 5 4 3 Thousand Years Before Present
Achieving Milestones
16
2,500 Years Before Present Land Growth Still Exceeded Land Loss
6
7
9
8
Greek Culture
6 2 1 0 5 4 3 Thousand Years Before Present
Achieving Milestones
17
1
1
Outer Islands
Trinity Shoals
+ 3306 - 2411
mi 2
mi 2
Bayou Jasmine Archeological Site Twinned bag ca. 800 BC
LSU TEXTILE MUSEUM
1,500 Years Before Present Land Still Growing, First People Arrived
Achieving Milestones
18
14
13
Desoto Finds the Mississippi
500 Years Before Present Land Still Growing, Europeans Arrive
6 2 1 0 5 4 3 Thousand Years Before Present
Achieving Milestones
19
Land Growth or Loss Lies in the Balance of Deposition and Sinking
~30,000 mi 2
Total estimated submergence prior to 1932
Achieving Milestones
20
16 15
83 Years Before Present, Maximum Land and First Aerial Photograph
1932
Achieving Milestones
21
1932
2010
1932
500 mm = 20” total relative sea
level rise since 1932
sea level rise
subsidence
Sea Level Is Rising, Land is Sinking, River Leveed
Achieving Milestones
22
Mississippi Sediment Supply Has Been Cut In Half Over Last 300 Years
Meade, R.H. and Moody, J.A., 2010,
Achieving Milestones
23
Locks and Dams of the Upper Mississippi and Ohio Rivers
Settlement Load Has Decreased Due to Locks and Dams
Achieving Milestones
24
Subsidence Due to Faulting Adds to Sinking On the Coast
Achieving Milestones
25
Oil Fields and Subsidence Are Both Set Up By Faults
A
A’
A A’
CHAVIN
LIRETTE
LAPEYROUSE
B
B’
B’ B
BAYOU RAMBIO
Achieving Milestones
26
Marsh Subsidence Is Accelerated Due to Geologic Faulting
Achieving Milestones
27
Surface Fault Traces Almost Exactly Match Major Land Loss
Achieving Milestones
28
• Wetlands Created by Deltaic Deposition
• Wetlands Loss Due to Natural Subsidence
• Wetlands Loss Due to Decreased Sediment Supply
• Wetlands Loss Due to Mississippi River Levees
• Wetlands Loss Accelerated by Geologic Faulting
• Coastal Restoration Sites Should be Wisely Chosen
Conclusions on Coastal Wetlands Land Loss