OUR FOCUS LIGHTSTREAM RESOURCES is an upstream energy company Focused on LIGHT OIL resource plays Light oil and liquids weighting of 80% DIVIDENDS + LONG-TERM GROWTH business model An annual dividend of 0.48 per share 2014 focus…
OUR ASSET BASE 2013 Avg. Business Unit Drilling Inventory 2013 Average Production Production (locations) (boepd) 46,438 boepd Southeast Saskatchewan 22,414 1,2001 Drilling Inventory Cardium 20,270 530 2,150 locations AB / BC…
RESERVES SUMMARY Proved + Probable Reserves Mix 2013 Results (200.2 MMboe) 2P Reserves of 200.2 MMboe 20% NPV10% of 4.1 billion 6% Replaced 122% of production before net negative revisions of 7.9 MMboe 74% 2P F&D costs…
WHAT WE HAVE Our portfolio has grown to include significant holdings in 4 major light oil plays, a strong reserve base and a large undeveloped land inventory, positioning us for long-term growth 250 Proved Developed Producing Total…
GROWING OUR FREE CASH FLOW GENERATING ASSETS Initial capital investment in light oil resource plays generates rapid near-term production and cash flow growth Maturing production base generates growing free cash flow Long life assets…
ALIGNED ASSETS & CAPITAL STRUCTURE Our balance sheet is structured to match the attributes of our assets Characteristics of our assets: Allows us to: High operating netback Invest growth capital strong annual cash flow per share…
DEBT AND LIQUIDITY Term debt provides security; liquidity on the balance sheet provides flexibility Senior Secured Covenant Facility (240 million of available liquidity) Debt Capital Composition Term Term subject to further…
DISPOSITION ACTIVITY Non-core asset dispositions have resulted in the sale of, or agreements to sell, approximately 1,700 boepd (66% gas) of production for gross proceeds of 112 MM Amount Metric 1,700 boepd Production 66,000/boepd…
2014 CAPITAL PROGRAM Capital spending in 2014 will build on 2013 to reduce declines and stabilize production 2014(e) Planned Capital Activity Net Wells Capital(1) (million) SE Saskatchewan 35 75 (Bakken/Conventional) Cardium 42…
WE HEDGE OUR RISK We methodically layer on commodity contracts up to three years in the future to hedge between 25-50% of net production 21,000 120 17,500 100 2014(e) Production Hedged Volume (bbl/d) Hedged Price (/bbl) 14,000…
MATURING ASSET BASE As our production matures, our base decline is decreasing Annual Corporate Decline Rate 50% 40% 30% 20% 10% 0% 2010 2011 2012 2013 2014(e) 2015(e) 13
PRODUCTION PLATFORM In 2014, with lower base declines and improving capital efficiencies reduced capital investment is required to maintain our production platform 1,500 50,000 Extensive light-oil assets o 80% light oil and liquids…
CONTINUING TO IMPROVE SUSTAINABILITY Over time our operations have migrated towards sustainability as our cash flow and cash payout converge Maturing production attenuates Improving Sustainability the base decline rate and 200%…
SE SASKATCHEWAN ASSETS We are maximizing the value of our assets by focusing on optimization and EOR Our assets have low decline, light-oil production from the Mississippian conventional and Bakken formations. Along with a moderate…
EARLY EOR SUCCESS IN THE BAKKEN Future value generation through natural gas flooding We expect to recover Creelman EOR Performance approximately 15% of the DPIIP 1600 12 through primary recovery 11 methods; with EOR success, 1400…
CONTINUED INVESTMENT Optimization work has been completed on 310 wells to date Operations include millouts, cleanouts, high volume lift, and new compressors In 2014, 30 million will be spent on optimizations in southeast Saskatchewan…
CARDIUM ASSETS Now generating positive operating cash flow LTS Land Our extensive land base stretches from Calgary to Edmonton and our LTS Batteries Sales Gas Pipelines assets primarily produce light oil from the Cardium formation.…
BUILDING IN THE CARDIUM Leveraging our experience in the Bakken allowed us to hit the ground running in the Cardium - we have 280 net sections providing opportunities for additional growth 25,000 400 Production (boepd) On-Stream…
PROVEN RESULTS THROUGH INNOVATION Innovations in drilling and completion techniques improve productivity and lower costs Performance in West Pembina Slickwater fracturing has 80,000 reduced costs and improved productivity 70,000…
SWAN HILLS ASSETS The Swan Hills area is becoming our next growth wedge Accumulate We have access to 102 (88 net) sections of land in this play with approximately 220 potential drilling locations identified Innovate Drilling 1.5…
BUILDING SWAN HILLS Swan Hills production additions in 2013 were 1,700 boepd from bringing on 11 wells and 300 boepd through an acquisition 5,000 25 Swan Hills Production AB/BC Production Swan Hills On-Stream Well Count 4,000…
OUTPERFORMING EXPECTATIONS Our 100% operated wells are outperforming our original projections Swan Hills Area Performance After six months, our 1 Mile Lateral Wells 100,000 initial 6 Deer Mountain wells have, on Cumulative Oil…
EXPLORATION ASSETS Our land position has multi-zone potential Monias 13 Sections Dunvegan 9 Sections Gething LTS Land 17 Sections LTS Facility Sales Gas Pipelines West Swan Hills Wilrich River LTS Operated Wells 78…
WELL ECONOMICS We focus on well economics that reinforce our business model with quick payouts and strong capital efficiencies < 2 year capital payout 2 recycle ratio Saskatchewan Type Well Bakken1 Cardium Swan Hills2 Conventional…
STRENGTH IN OUR ASSETS Extensive light-oil assets consisting of: Solid, maturing production Improving base declines Large inventory of sustaining drilling opportunities and growth prospects Our asset base also underpins our balance…
Trading Symbol LTS: TSX Market Capitalization 1.1 billion Share Price (March 10, 2014) 5.62 Total Debt (2013) 2.3 billion Shares Outstanding (Q4 2013 Basic) 199.8 MM Enterprise Value 3.4 billion Options/incentive shares 13.6 MM Annual…
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