3rd Quarter 2013 Operating and Financial Results November 2013
Defined Terms Defined Reserves and Resource Terms bbl means barrel. boe means barrels of oil equivalent, and have been calculated using liquid volumes of oil, condensate and NGLs and treated volumes of gas converted using a ratio of 6…
Q3 2013 Results at a Glance (vs. Q3 2012) +62% EBITDAX of US81mm (1) Last 12 months EBITDAX US301mm +71% Production of 1.97 mmboe gross +70% Production 15,785 boe/d net of royalties (1) See Non-IFRS Financial Measures…
Eagle Ford Focused Developing highly contiguous 80,300 gross (22,100 net) acres in the Sugarkane field KEY METRICS 97% held by production Market Cap(1) (US) 1.38 billion Q3 2013 average production: Cash (US) 106 million 15,785 net…
Q3 2013 Update Average daily production of 15,785 boe/d (net) up 70% compared to the Q3 2012 37 gross new producing wells during Q3 2013 13 net wells spud; 10 net wells placed on production 7 net operated wells spud; 2 net operated…
Q3 2013 Update (continued) YTD financial performance YTD EBITDAX(1) of US237mm Capital expenditures of US353mm in first 9-months of 2013 (excluding acquisitions) Q3 2013 EBITDAX from non-operated Sugarkane assets exceeded capex…
2013 Guidance Update 2013 Guidance Initial Guidance Updated Guidance Net well spud total 45 to 50 42 to 47(1) Net well spud Operated 14 to19 10 to 12(1) Net well spud Non operated 30 to 32 32 to 35 Cumulative production…
Operational Overview
Quarterly Production Growth Aurora Quarterly Net and Gross Daily Production 2012 / 2013 25,000 Average daily liquids hydrocarbons (boe/d) 20,000 Average daily gas rate (boe/d) Average Daily Production (boe/d) 15,000…
Well Status Summary 350 Gross Producing Well Count 332 13 295 7 300 252 76 250 216 200 169 150 124 154 84 100 66 48 50 27 82 6 9 0 Sugarkane Field Project Areas Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1…
Operational Highlights New drilling techniques enhance already strong economics Longer laterals Pad drilling Down-spaced operated Eagle Ford to 40 acres (approximately 330 foot lateral distance between wells) Anticipate Eagle Ford…
Operated Position 100% operated interest in 2,700 net acres in Karnes, Atascosa, and Live Oak Sugarkane field Aurora Oil & Gas (1) ConocoPhillips Marathon Oil counties EOG Resources Murphy Oil All held by production 15 net wells…
Operated Project Summary Exploiting the knowledge gained from participation in more than 375 gross wells First 2 operated wells drilled and completed by Aurora designed for optimum performance: Pad drilling Average lateral length of…
Non-Operated Position Low risk, fully delineated Eagle Ford position 19,400 net acres Sugarkane field Aurora Oil & Gas (1) ConocoPhillips Marathon Oil WI% from 28% to 36% in Karnes, 9.1% in EOG Resources Murphy Oil Atascosa, and…
Financial Overview
Development Driving Profitability Quarter by Quarter Growth Rates Revenue(1) (USmm) EBITDAX(2) (USmm) Average Production (boepd) CQGR 14% CQGR 13% CQGR 14% 21,438 143.6 80.9 Q3'13 15,785 Q3'13 Q3'13 20,380 134.2 Q2'13 80.4…
Aurora Production Mix and Netbacks Q3 2013 High Valued, Liquids Weighted Gas 20% Op. Netback US45.09/boe (gross) Oil 41% Production EBITDAX(1) US41.01/boe (gross) NGL 19% NPAT US12.51/boe (gross) Cond 20% Based on Q3 2013…
Well Capitalised US millions Sep 30 2013 Strong liquidity with US106mm Cash 106 cash and an undrawn US300mm credit facility Credit Facility - 9.875 % Senior Notes due 2017 365 No principal maturities on Senior 7.50 % Senior…
Hedging Summary as of October 1, 2013 Aurora utilizes hedging to help preserve financial liquidity by limiting exposure to commodity price risk Collars Swaps Total Volume (no premium) WTI(1) LLS(1) WTI(2) Hedged Oil Avg. Hedge Oil…
Summary Pure Eagle Ford Shale producer Rapid production, revenue and profit growth Oil and condensate focused growth in reserves Strong management team and experienced partner Well funded with capital allocation flexibility…
Appendices
Financial Summary Selected Financial Data Selected financial data Qtr Qtr Qtr Qtr Qtr Qtr 12 Months to (US in thousands, except where noted) Sep-12 Dec-12 Mar-13 Jun-13 Sep-13 Sep-13 Sep-13 PRODUCTION: Tota l net producti on (boe) -…
Funds from Operations Reconciliation Three months ended LTM Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Sep 30, 2013 US'000 US'000 US'000 US'000 Net profit after tax 24,674 25,694 29,611 103,777 Add/(less) non-cash items Depletion,…
EBITDA/EBITDAX Reconciliation Three months ended LTM Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Sep 30, 2013 US'000 US'000 US'000 US'000 Net profit after tax 24,674 25,694 29,611 103,777 Adjustments: Share based payments expense…
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