Sundance Energy Australia Limited (ASX: SEA) March 2013 Focused Strategy Delivering Results
Company Profile Sundance Energy (ASX: SEA) is an independent energy company focused on the exploration, development and production of large, repeatable resource plays in North America. The Companys current activities are focused on the…
Focused Strategy Delivering Results 4-6 year growth target of 20,000+ boepd with 7-10 year high quality drilling inventory 2013 focused on growth through the drill bit 175.5M capital budget in 3 leading US oil resource plays…
Adaptable Growth Plan Allocate capital to development projects that generate the best risk adjusted returns while investing in the companies future Development (primary focus in 2013) Eagle Ford & Wattenberg with 95%+ economic…
High Quality, Scalable Reserves Sundance Reserve Upgrade Since 1 July 2012 Re-evaluation as of 1 January 2013 did not include Eagle Ford assets Proved PV10 increased 47.9M Proved, probable & possible reserve increased 10.0 mmboe Net…
Portfolio in Leading Onshore US Resource Plays 55% Basin IRR's - Futures Strip as of 28 September 2012 60% 52% 51% 49% 50% 42% 40% 36% 35% 35% 34% 40% 33% 30% 30% 27% 26% 30% 23% 21% 20% 20% 19% 17% 17%…
Company Operated High Impact Development Plan NET WELLS Cap Ex 2013 Development Plan Low High Target (M) Non- SEA OPERATED Operated DJ Basin - Wattenberg Vert 10.0 25.0 7.5 18% South Texas - EFS 10.8 12.0 105.8 Anadarko Basin -…
Transformational Production Growth Through the Drill Bit 2013 Production Guidance Production per Debt Adj. Share 6,000 0.0045 Production per Debt Adjusted Share (boe) 0.0040 5,000 0.0035 4,000 0.0030 0.0025 boepd…
Focus on Corporate Returns Return on Capital 9.0% 8.0% ROCE decreased because of lag in 7.0% redeployment of Return on Capital South Antelope 6.0% sale proceeds Shifted corporate 5.0% strategy from prospect generation…
Calendar 2013 Financial Guidance Production (boe) (1) 951,000 - 1,189,000 Production (boepd) (1) 2,605 - 3,258 December '13 exit rate (boepd) 4,000 - 4,800 % production oil 70% -75% % production natural gas 25% -30% Natural gas…
Diversified Assets in Leading US Liquids Basins Williston Basin Bakken/Three Forks Net Acres 4,800 3P Reserves (mmboe) (1) 10.0 DJ Basin Niobrara/Codell Wattenberg Net Acres 4,500 Greater Anadarko N. Niobrara Net Acres…
Eagle Ford Overview Prolific onshore US oil and liquids-rich resource play 236 rigs according to Baker Hughes as of 25 January 2013 High oil and liquids content Typical IRRs of 52% (Credit Suisse Equity Research) Access to higher…
Eagle Ford Play Structural Setting Structure Map - Top of Buda Oil Window GOR < 750 Volatile Oil & Condensate Window Sundance Acreage Position N Dry Gas Window Subsea Values -16,500 -8,400 300 50 miles 15
Eagle Ford Major Players Producing Eagle Ford wells color coded by Operator: EOG BHP -Petrohawk Chesapeake Goodrich Cabot Oil Window Chesapeake Swift Talisman GOR < 750 Newfield Chesapeake Anadarko Talisman…
Texas: McMullen County Eagle Ford Wells Eagle Ford McMullen Performance Well Economics Eagle Ford 1,000 Net Locations 90 - 120 Spacing assumption (acres) 80 - 60 Well cost (MM) 9.2 - 10.5 EUR (mboe) 375 - 525 Estimated Liquids (%)…
Texas: McMullen County Eagle Ford Activity LEGEND MUR Tyler 2H SEA Acreage 434 boed (24 hr) 2013 SEA Planned 1st Half Wells Murphy E&P (MUR) McMullen 2013 SEA Planned 2nd Half Wells Petrohawk (HK) Live Oak Texon Drilled…
Texas: Eagle Ford Optimization Cost control Continuous drilling Decrease SPUD to rig release Pad drilling Other optimizations identified Spacing Primarily drilling commitment wells in 2013 Begin 60 acre spacing tests late…
Eagle Ford Operations Status Working Net Revenue Peak 24- Well Name Interest Interest Hour 30 Day 60 Day 90 Day 1 Year Tyler EFS 1H 82% 62% 1,071 714 618 528 286 Tyler EFS 2H 82% 62% 1,278 503 626 622 365 Teal EFS 1H 100% 75% 1,467…
Anadarko Basin: Basin Logan County Activity BD McKee LEGEND 1-36H IP = 505 boepd N Stratigraphic Column For SEA Acreage (24-h) Ave. Depth Logan County 5,900 ft DVN Smith 2012 SEA Logan CO Drilled Wells 1-14WD 2012 SEA SWD…
SEA Logan County Mississippian Performance SEA SEA Branson Devon SEA Logan Operated Wells vs. Multi-County* Kightlinger 17-4-23-1HM Hopfer Mississippian Well Performance 19-3-8-1HM 1-17H 10,000 WI (%) 87.45 100 14 NRI (%) 69.18…
SEA Kightlinger 19-3-8-1HM Performance Kightlinger 19-3-8-1HM Well Performance 10000 1000 Bbl/d; mcf/d 100 10 Oil Production Gas Production Water Production 1 October 10, 2012 November 10, 2012 December 9, 2012…
Logan County Mississippian Economics Well Cost Rate of Return Sensitivities Average SEA Type Curve (225 mboe) 80 Logan 70 SEA Well Economics County 60 Miss. Lime 50 Net Locations 100 - 150 IRR (%) 40 30 Spacing assumption…
SEA Wattenberg Vertical Program Performance SEA Well Performance vs. Major Operators SEA Wattenberg Operated Type Curve 80 70 70 60 60 50 50 40 BOE/d BOE/d 40 Refrac 30 30 20 20 10 10 0 0 4 8 12 16 20 24…
SEA Wattenberg Vertical Program Performance Rate of Return Sensitivities SEA 2012 Estimated 0.85 MM Well SEA Vertical Economics Development Guidance 70 Program Range 60 Net Locations n/a 200 - 325 Spacing assumption (acres) n/a…
Upside in Potential Wattenberg Horizontal Program Wattenberg Niobrara HZ Well Scoping Well Economics HZ Niobrara Performance 900 Net Locations 36 - 80 Spacing assumption (acres) 20 - 40 800 Well cost (MM) 5.1 - 5.6 700 EUR (mboe)…
Williston Basin: Bakken Three Forks Bakken Structure Map Key Reservoir Characteristics: N - depth (11,000 ft) - pressure (.67 psi/ft) - GOR = 1,000 - Oil gravity = 45 API Goliath (Hess) N 50% oil cut e s s Upper Bakken Shale o…
Williston Basin: Phoenix - Bakken Three Forks Yearly Performance Phoenix Area SEA Well Economics Phoenix 1,000 Net Locations (at 160 acre spacing) 18 19 Well cost (MM) 9.5 - 10.5 EUR (mboe) 600 - 900 Estimated Liquids (%) 85 30 Day…
Williston Basin: Goliath - Bakken Three Forks Yearly Performance Goliath Area SEA Well Economics Goliath Net Locations (at 160 acre spacing) 17.5 - 18.5 1,000 Well cost (MM) 9.0 - 10.0* EUR (mboe) 450 - 525 Estimated Liquids (%) 80…
Focused Strategy Delivering Results Premier position in 3 of the leading US oil resource plays Premier acreage Material acreage position in the Mississippian & Woodford High interest, Company operated drilling program in 2013…
Appendices 33
Track Record of Value-Adding Transactions Transaction Prospect Basin Date Value IRR Comments (US) Ashland Prospect Late Entire interest sold following Arkoma 46.4M 78% (Woodford) 2007 re-adjusted focus to oil acreage Acquired…
Appendices Definitions boe is defined as barrel of oil equivalent, using the ratio of 6 Mcf of Natural Gas to 1 Bbl of Crude Oil; mboe is defined as a thousand barrels of oil equivalent, using the ratio of 6 Mcf of Natural Gas to 1…
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