1 IPPA Private Capital Conference IPPA Private Capital Conference Houston, Texas Houston, Texas January 19, 2006 January 19, 2006 PETRIE PETRIE PARKMAN & Co. PARKMAN & Co. Mike Bock, CFA Mike Bock, CFA Principal and Director of Principal and Director of Corporate Finance Corporate Finance Petrie Parkman & Co. Petrie Parkman & Co.
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IPPA Private Capital Conference Houston, Texas January 19, 2006
PETRIE PARKMAN & Co. IPPA Private Capital Conference Houston, Texas January 19, 2006. Mike Bock, CFA Principal and Director of Corporate Finance Petrie Parkman & Co. . Petrie Parkman Recent Experience – IPO’s 2000-2006 YTD. E&P Equity Market Performance . IPO Issuance Volume 2000 - 2005 . - PowerPoint PPT Presentation
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IPPA Private Capital ConferenceIPPA Private Capital Conference
Houston, TexasHouston, Texas
January 19, 2006January 19, 2006
PETRIEPETRIE PARKMAN & Co.PARKMAN & Co.
Mike Bock, CFAMike Bock, CFAPrincipal and Director of Principal and Director of
• Use of proceeds: Repay outstanding debt to Comstock
• Lead managed by Raymond James, Co-managed by Petrie Parkman and others
% Change Since Pricing
Capital Market Environment- Recent IPO’s
27.36%
32.86%
25.08%
9.67%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
Bois d' Arc ComparableCompanies
Commodities S&P 500
PETRIE PARKMAN & Co.7
% Change Since Pricing
W&T Offshore- 1/27/05
• 12.66 million shares priced at $19.00
• Use of proceeds: Secondary sale of shares by management and Jefferies & Company
• Lead managed by Jefferies and Lehman Brothers
Capital Market Environment- Recent IPO’s
9.49%
41.67%
27.58%
63.79%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
W&T Offshore ComparableCompanies
Commodities S&P 500
PETRIE PARKMAN & Co.8
Bill Barrett Corporation- 12/9/04
• 14.95 million shares at $25.00
• Use of proceeds: Repay indebtedness in connection with acquisitions, in order to free up availability under credit facility to fund capex and future acquisitions
• Lead managed by Goldman Sachs, Co-managed by Petrie Parkman and others
% Change Since Pricing
Capital Market Environment- Recent IPO’s
51.92%
79.23%
49.11%
8.14%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
Bill Barrett Corp. Comparable Companies Commodities S&P 500
PETRIE PARKMAN & Co.9
% Change Since Pricing
Warren Resources- 12/17/04
• 9.5 million shares priced at $7.50
• Use of proceeds: To accelerate and fund exploration and development activities in the Atlantic and Pacific Rim projects of the Washakie Basin, as well as in the Willmington unit and Powder River Basin