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DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp

Triangle Petroleum Corp · Dec 10, 2013 · 25 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. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 1
    CORPORATE PRESENTATION December 2013
  2. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 2
    TABLE OF CONTENTS Business Overview 4 Operational Overview 9 Financial Overview 13 Appendix 18
  3. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 3
    BUSINESS OVERVIEW
  4. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 4
    TRIANGLE PETROLEUM CORPORATION OVERVIEW BUSINESS OVERVIEW TPC wholly owned E&P subsidiary Growth oriented E&P company focused on the Williston Basin 94,000 net acres with production rate of 7,400+ Boepd(1) and proved reserves…
  5. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 5
    BUSINESS OVERVIEW KEY INVESTMENT HIGHLIGHTS SUBSTANTIAL Production and reserves have increased 390% and 293%,respectively, year over year GROWTH IN OPERATED 59% increased production rate from Q2 FY14 to Q3 FY14 PRODUCTION AND…
  6. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 6
    BUSINESS OVERVIEW OIL-FOCUSED SINGLE BASIN OPERATOR KEY HIGHLIGHTS ASSET MAP Concentrated acreage in core area of Williston Basin 45,000 net acres primarily in McKenzie and Williams counties Williston Basin in the early stages of…
  7. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 7
    BUSINESS OVERVIEW SIGNIFICANT OPERATED PRODUCTION AND RESERVES GROWTH NET SOLD PRODUCTION VOLUMES (BOEPD) 10,000 FY2014 Avg. Daily Production Guidance(1) 10 Consensus estimated 4,750 5,350 Boepd average of 6,600 Boepd(2) 8,500 Net…
  8. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 8
    OPERATIONAL OVERVIEW
  9. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 9
    OPERATIONAL OVERVIEW TRIANGLE USA CORE AREA MCKENZIE AND WILLIAMS COUNTIES CURRENT DEVELOPMENT TUSA OPERATED WELLS COMPLETED (GROSS VS. NET)(3) 10 9.0 Currently operating 3 full-time drilling rigs 8.0 Wells Completed 8 6.0…
  10. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 10
    OPERATIONAL OVERVIEW ROCKPILE ENERGY SERVICES RockPile Energy Services, LLC is focused on providing Best in Class pressure pumping and ancillary services in the Williston Basin EXPANDING CAPACITY AND CAPABILITIES GROSS WELLS…
  11. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 11
    OPERATIONAL OVERVIEW CALIBER MIDSTREAM Caliber Midstream Partners, LP is focused on providing gathering, transportation and processing in the Williston Basin OPERATIONS UPDATE Crude gathering and stabilization pipeline and…
  12. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 12
    FINANCIAL OVERVIEW
  13. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 13
    FINANCIAL OVERVIEW STAND-ALONE BUSINESS SEGMENT FINANCIAL RESULTS TUSA HISTORICAL REVENUE(1) TUSA HISTORICAL ADJUSTED EBITDA(2) 60.0 50.0 EBITDA (mm) Revenue (mm) 40.0 40.0 30.0 55.5 20.0 40.5 20.0 34.6 26.3 10.0…
  14. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 14
    FINANCIAL OVERVIEW CURRENT POSITION CURRENT POSITION LIQUIDITY PROFILE (MM) Share Price (as of December 6, 2013) 10.82 Total Cash (as of October 31, 2013) 100 90-day % Change +44.5% TUSA Credit Facility Availability (as of October…
  15. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 15
    FINANCIAL OVERVIEW FY2014 CAPITAL BUDGET (ENDED JANUARY 31, 2014) BUDGET DETAIL FY2014 Budget (mm) Capital Expenses Low Case High Case TUSA Drilling Program(1) 285 - 305 TUSA Land Spend 110 - 120 Infrastructure(2) 15 - 20…
  16. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 16
    FINANCIAL OVERVIEW RISK MANAGEMENT KEY HIGHLIGHTS HEDGE POSITION 95.25 fixed 5,000 price 120.00 105.02 Actively hedging to protect present and future 100.05 95.78 100.00 4,000 cash flows through the use of zero cost collars and…
  17. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 17
    APPENDIX a) Stand-Alone Business Segment Financial Results and Guidance b) Montana Station Prospect c) Historical Financials d) RockPile Energy Services and Caliber Midstream Implied Valuations
  18. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 18
    APPENDIX STAND-ALONE BUSINESS SEGMENT FINANCIAL RESULTS AND GUIDANCE STAND-ALONE VS. CONSOLIDATED REVENUE GROWTH 140.0 Triangle USA RockPile Stand Alone RockPile Consolidated Caliber 1.2 120.0 100.0 Revenue (mm) 66.0 1.1…
  19. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 19
    APPENDIX MONTANA STATION PROSPECT DETAILS 50,000 net acres; 65% operated Potential Drilling Inventory: 360 operated locations Anticipate allocating 10 million to drill and complete 3 4 exploratory wells in FY15 KEY…
  20. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 20
    APPENDIX Q3 FY14 CONSOLIDATED INCOME STATEMENT Three Months Ended October 31, 2013 2012 Revenues Total revenues 88,549 21,300 Costs and Expenses Oil and gas operating expenses (incl. production taxes) 13,030 2,678 (a) 29,164…
  21. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 21
    APPENDIX CONSOLIDATED ADJUSTED NET INCOME RECONCILIATION Q3 fiscal 2014 Q3 fiscal 2013 Net income (loss) as reported 17,358 (599) (Gain) loss on derivative activities (2,123) (1,401) (Income) loss on investment in marketable…
  22. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 22
    APPENDIX Q3 FY14 INTERSEGMENT TABLE RockPile's Exploration Pressure Pumping Corporate Eliminations Consolidated and Production and Other Services and Other(a) and Other Total Revenues Oil and natural gas sales 55,477 - - -…
  23. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 23
    APPENDIX ROCKPILE ENERGY SERVICES IMPLIED VALUATION EV/EBITDA MULTIPLE VALUATION Low Case Average Case High Case RockPile Energy Services Q4 FY 2014 estimated annualized Peer EV/EBITDA 4.0x 5.5x 7.2x EBITDA of approximately 54…
  24. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 24
    APPENDIX CALIBER MIDSTREAM IMPLIED VALUATION EV/EBITDA MULTIPLE VALUATION Low Case Average Case High Case Caliber Midstream Q4 FY 2014 estimated annualized Peer EV/EBITDA 9.7x 16.2x 23.2x EBITDA of 31 million(1), or 9 million net to…
  25. DECEMBER 2013 CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 25
    USE OF SEGMENT INFORMATION AND NON-GAAP MEASURES 1) The Company often provides financial metrics for each of Triangles three segments of operation. Revenues for each segment are disclosed in notes to the financial statements contained…

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