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Investor Presentation – Miller Energy Resources, Inc.

Miller Energy Resources, Inc. · Oct 30, 2014 · 20 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Investor Presentation – Miller Energy Resources, Inc. – slide 1
    Making Alaska Investible October 2014 / Miller Energy Resources AGM
  2. Investor Presentation – Miller Energy Resources, Inc. – slide 2
    Executive Summary Ryder Scott Total Proved Oil 11.7 MMBOE (1) Reserves 447.6 million (1) Proved Reserves % Oil 62% Company Operated % 100% of Net Production AK Lease and Exploratory 600,000 gross AK, North Slope Savant(2) Acres…
  3. Investor Presentation – Miller Energy Resources, Inc. – slide 3
    Value Proposition Making Alaska Investible Substantial Hydrocarbon State of the Art Resources Infrastructure Alaska D&C Funding and Balance Sheet Commodity Price Simplification/Cost of Environment Capital Efficiencies…
  4. Investor Presentation – Miller Energy Resources, Inc. – slide 4
    Four Distinct Fields in Alaska Cook Inlet, AK North Slope, AK Redoubt West McArthur River (WMRU) North Fork Badami (Savant)(1) Current net production of Current net production of Current net production of Net production of 600…
  5. Investor Presentation – Miller Energy Resources, Inc. – slide 5
    Favorable Alaskan Drilling Support and Pricing State Drilling Support Cash Tax Credit Receipts* 35.0 Through tax credits, the state reimburses 31.2 MILL in cash for 20%-40% of its D&C costs and 28.0 25% of its carried-forward…
  6. Investor Presentation – Miller Energy Resources, Inc. – slide 6
    Increasing Capital Availability at a Decreasing Cost Decreasing Cost of Capital Guggenheim: 1st Apollo: 1st Lien Apollo / HighBridge Apollo / HighBridge Potential Lien 75MM 2nd Lien 2nd Lien: 11.75% Opportunities 175MM 175MM 30.00%…
  7. Investor Presentation – Miller Energy Resources, Inc. – slide 7
    Pro Forma Capitalization (in 000s) Pro Forma Revolving Credit Facility 10/28/2014(1) Revolving Credit Facility ( L+300 - L+400 ) 36,000.0 250 million facility Second Lien Term Loan ( 11.75% ) 175,000.0 60 million initial…
  8. Investor Presentation – Miller Energy Resources, Inc. – slide 8
    Proven Acquisition & Development Success Production Growth (Net BOE/D) 6,000 5,000 4,000 3,913 3,070 4,000 3,000 436% Increase 3,313 3,000 F1Q15 Net Prodn 2,000 2,000 899 1,000 573 1,000 600 Savant 0 0 2012 2013 2014 F1Q15…
  9. Investor Presentation – Miller Energy Resources, Inc. – slide 9
    Historical Production, Revenue & EBITDA Production Growth (Net BOE/D - Excluding Savant) 4,000 3,349 3,070 3,000 2,450 2,124 2,000 1,375 1,000 0 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Quarterly Revenue Quarterly…
  10. Investor Presentation – Miller Energy Resources, Inc. – slide 10
    Total Reserves 1P Reserve PV-10: 448mm 1P Reserve Volumes: 11.7 mmboe Near Term 500 14,000 Additional 450 12,000 Reserve PV-10 Value (mm) Total Volumes (mboe) 400 Contingent 350 177 10,000 5,348 300 Resources 250…
  11. Investor Presentation – Miller Energy Resources, Inc. – slide 11
    Large Reserve Base & Strong Asset Coverage ( in millions) Every 100MM of asset value translates into 2.15/share 1,200 1,044.4 Significant asset 1,000 coverage above P3, 198.0 corporate capitalization 800 P2, 183.6 545.6…
  12. Investor Presentation – Miller Energy Resources, Inc. – slide 12
    Redoubt Shoal Highlights Positive DST tests in North & South step outs in 1960s Finalizing completion of RU-9 Remain excited about RU-12 Near-term focus on shorter, Osprey lower-risk PUDs, however Platform RU-1 drilled in…
  13. Investor Presentation – Miller Energy Resources, Inc. – slide 13
    West McArthur River Unit Highlights 13.3 MMBbls recovered from WMRU to date Greater than 20% primary recovery based on estimated oil in place Positive initial results from WMRU-2B with indications of additional primary recovery…
  14. Investor Presentation – Miller Energy Resources, Inc. – slide 14
    North Fork Unit Includes six (6) natural gas wells, production and processing equipment and 15,464 acres Multi-year firm natural gas sales contract with ENSTAR (Alaska Utility) currently at 7.05/mcf Miller Energy North Fork Unit…
  15. Investor Presentation – Miller Energy Resources, Inc. – slide 15
    North Slope Savant Acquisition Badami Binding agreement to acquire Savant Alaska, LLC subject to due diligence and regulatory approval, for 9.0 MM Savant to become wholly-owned subsidiary of MILL MILL to indirectly own 67.5% working…
  16. Investor Presentation – Miller Energy Resources, Inc. – slide 16
    Alaska Drilling Rig Status Rig Terms Size/Type Location Status Future Plans Mgmt. Est. Value Rig-34 Company 750Hp, land Nikiski Stacked Possibly use to drill Susitna 5 million Owned based, 6,000' well depth Rig-35 Company 2,000Hp,…
  17. Investor Presentation – Miller Energy Resources, Inc. – slide 17
    Value Proposition Making Alaska Investible Substantial Hydrocarbon State of the Art Resources Infrastructure Alaska D&C Funding and Balance Sheet Commodity Price Simplification/Cost of Environment Capital Efficiencies…
  18. Investor Presentation – Miller Energy Resources, Inc. – slide 18
    Contact Information Miller Energy Resources, Inc. 9721 Cogdill Road, Suite 302 Knoxville, TN 37932-3425 Phone: 865-223-6575 infomillerenergyresources.com www.millerenergyresources.com Investor Relations MZ Group - North…
  19. Investor Presentation – Miller Energy Resources, Inc. – slide 19
    Management Biographies Scott M. Boruff - Mr. Boruff serves as our Executive Chairman and has previously served as a director and CEO from August 2008 to September 2014. Prior to joining our company, Mr. Boruff was a licensed investment…
  20. Investor Presentation – Miller Energy Resources, Inc. – slide 20
    Hedging Hedging Summary Over 80% of current net oil production hedged The North Fork Unit has the vast majority of its gas production effectively hedged through ENSTAR gas delivery contracts Contract price currently 7.05/mcf 2.3…

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