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FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd.

Kelt Exploration Ltd. · Sep 15, 2014 · 29 slides

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Slides

  1. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 1
    Corporate Presentation September 2014 David J. Wilson, President & Chief Executive Officer Sadiq H. Lalani, Vice President, Finance & Chief Financial Officer www.KeltExploration.com
  2. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 2
    Why Invest in Kelt 2 For investors who want to be exposed to a growth oriented oil and gas exploration and development business plan TRACK RECORD: the Kelt management team has a strong track record of building shareholder value,…
  3. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 3
    Common Share Information 3 Stock Exchange listing TSX Trading symbol KEL Market capitalization ( Sep/2/14 ) 1.7 billion 52-week trading range 7.64 - 15.61 Common shares issued 126.7 million Restricted share units (RSUs) 1.7…
  4. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 4
    Capital Expenditure Program 4 ( millions ) 2013 Actual 2014 Forecast Change Drilling & Completions 84.2 209.0 + 148% Facilities, Equipment & 19.5 35.5 + 82% Pipeline Land & Seismic 16.0 31.0 + 94% Total E&D Expenditures 119.7…
  5. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 5
    2014 Drilling Program 5 Gross Net D&C % Wells Wells ( MM ) Grande Prairie [1] 16 15.2 90.5 44% Karr 7 6.8 50.2 24% Inga / Fireweed [2] 10 4.1 42.7 20% Other 4 3.7 25.6 12% Total 37 29.8 209.0 100% [1] Grande Prairie:…
  6. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 6
    Production Outlook 6 2013 2014 2014 Actual Split Forecast Split Forecast Split (average) (average) (exit) Crude Oil ( bbls/d ) 516 13% 3,460 28% 4,960 32% NGLs ( bbls/d ) 297 7% 870 7% 1,150 8% Gas ( mcf/d ) 18,888 80% 47,520…
  7. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 7
    Quarterly Production Growth 7 ( BOE / d ) 20,000 Oil Gas + 326% 18,000 16,000 15,300 14,236 14,000 13,186 12,000 11,381 10,143 9,190 10,000 8,546 8,091 8,000 7,965 5,739 7,061 6,000 4,636 4,097 4,000 3,588 4,443…
  8. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 8
    Improving Profitability by Lowering Costs 8 DRILLING: Kelts development properties are primarily resource in nature whereby in-fill drilling is conducted from multi-well pads resulting in economies of scale thereby reducing drilling…
  9. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 9
    Protecting Profits Through Hedging 9 ( CA unless otherwise specified ) Period Quantity Fixed Price Sep/1/14 to 1,500 CA 101.51 WTI Crude Oil Dec/31/14 bbls/d per bbl [1] Sep/1/14 to 150 US 48.09 OPIS Conway Propane Dec/31/14…
  10. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 10
    Commodity Prices 10 ( CA , unless otherwise specified ) 2013 2014 (E) Change WTI Crude Oil ( USD/bbl ) [1] US 97.98 US 96.00 - 2% NYMEX Natural Gas ( USD/mmbtu ) US 3.67 US 4.40 + 20% AECO 5A Natural Gas ( CAD/GJ ) [2] 3.01 4.35 +…
  11. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 11
    Netbacks 11 ( / BOE ) 2013 2014 (E) Change Oil & gas revenue 32.27 48.61 + 51% Realized hedging gain ( loss ) ( 0.24 ) ( 0.25 ) - Royalties ( % of revenue ) ( 13.5% ) ( 13.8% ) + 2% Production & transportation exp. ( 10.69 ) (…
  12. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 12
    Financial Outlook 12 2013 2014 (E) Change Oil & gas revenue, before royalties ( MM ) 46.3 216.2 + 367% Funds from operations ( MM ) [1] 23.7 117.5 + 396% Per share diluted ( /share ) 0.32 0.95 + 197% Debt, net of working…
  13. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 13
    Exit 2014 Forecast 13 Lower 2014 Forecasted Percent Commodity Commodity Difference Prices Prices Exit 2014 Production 15,300 BOE / d 15,300 BOE / d - ( 60% Gas & 40% Oil ) WTI Crude Oil price US 96.00 / bbl US 89.50 / bbl -…
  14. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 14
    Core Areas 14 Grande Prairie ( includes Pouce Coupe, Spirit River & Valhalla / La Glace ) : Montney/Doig gas development Montney light oil development Charlie Lake light oil development Inga / Fireweed Halfway light oil…
  15. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 15
    Land Holdings 15 As at August 25, 2014 Gross Acres Net Acres Average WI Net Sections Developed 267,210 125,963 47% 196.8 Undeveloped 416,845 279,949 [1] 67% 437.4 Total 684,055 405,912 [2] 59% 634.2 [1] Net undeveloped land…
  16. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 16
    Reserves 16 As at December 31, 2013 Crude Oil NGLs Gas Combined FDC Costs ( mbbls ) ( mbbls ) ( mmcf ) ( MBOE ) ( M ) Proved Developed Producing 4,500 1,082 75,873 18,228 - Proved Developed Non- 180 28 966 369 1,327 producing…
  17. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 17
    Finding, Development & Acquisition (FD&A) 17 As at December 31, 2013 Proved + Proved Probable 2013 capital expenditures, including value of assets conveyed from Celtic & FDC required to develop reserves ( M ) 690,704 802,404…
  18. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 18
    Extensive Alberta Land Base 18 Gordondale Operations Progress Spirit River Kelt has set up its main field Pouce Coupe operating base in the city of Grande Prairie, currently staffed with 20 Valhalla / full-time employees. La…
  19. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 19
    Grande Prairie 19 LAND Gross: 258,028 acres ( 403 sections ) Pouce Coupe Net: 152,667 acres ( 238 sections ) Progress Spirit River PRODUCTION Q2 2014 Production: 4,988 BOE/d ( 62% gas & 38% oil ) Valhalla / La Glace Top five…
  20. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 20
    Pouce Coupe 20 Targeting Montney (upper, Progress middle and lower) and Halfway O Pool Unit 7.8% WI Doig formations. Pouce Coupe Ownership in pipeline infrastructure, gas South Boundary B Unit 2 67.9% WI Operated CNRL…
  21. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 21
    Spirit River 21 Charlie Lake Gamma Ray Density Porosity Worsley (O) 13-34 Y 13-33 J (Upper) Progress Halfway Gas Unit 1 15.9% WI J (Lower) 15-5 R Spirit River Charlie Lake E & M Unit 81.6% WI Operated F D Kelt…
  22. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 22
    Valhalla / La Glace 22 Kelt completed a 165 MM acquisition at Valhalla/La Glace in July 2014, Encana adding approximately Sexsmith 200 MMcf/d 11.7 MM BOE (70% oil) of 13-33 Gas Plant (0.3% WI) 2P reserves [1] (with 60.7…
  23. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 23
    Karr 23 LAND Gross: 30,240 acres ( 47 sections ) * Net: 29,056 acres ( 45 sections ) * 13-26 16-10 Completed * 37 sections ( 35 net ) with Montney rights Drilled (75%) OPERATIONS 16-8 Q2 2014 Production: 1,755 BOE/d Tested…
  24. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 24
    Grande Cache / Chicken 24 Narraway 135 MMcf/d Gas Plant LAND (7% WI) Gross: 141,120 acres ( 220 sections ) Net: 95,885 acres ( 150 sections ) OPERATIONS Q2 2014 Production: 2,650 BOE/d ( 97% gas & 3% oil ) 2014 Drilling…
  25. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 25
    Inga / Fireweed ( British Columbia ) 25 Fireweed 16 MMcf/d LAND Compressor/ Facility (50% WI) Gross: 117,657 acres ( 183 sections ) Net: 48,937 acres ( 76 sections ) OPERATIONS Q2 2014 Production: 1,988 BOE/d ( 66% gas & 34% oil…
  26. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 26
    Future Considerations 26 DRILLING INVENTORY: Kelt estimates that it has numerous years of drilling inventory on its existing lands to continue to grow the Company. STRONG BALANCE SHEET: Kelt maintains financial flexibility so that…
  27. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 27
    Management 27 David J. Wilson, President & CEO Sadiq H. Lalani, Vice President, Finance & CFO Douglas J. Errico, Vice President, Land Alan G. Franks, Vice President, Production Douglas O. MacArthur, Vice President, Operations Patrick…
  28. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 28
    Board of Directors 28 Robert J. Dales Compensation (Chair), Nominating, Audit, Reserves William C. Guinan Chairman, Nominating (Chair), HSE Eldon A. McIntyre Reserves (Chair), Nominating, Audit, Compensation Neil G. Sinclair Audit…
  29. FIRSTENERGY GLOBAL ENERGY CONFERENCE – Kelt Exploration Ltd. – slide 29
    Corporate Presentation September 2014 Suite 300, 311 6th Avenue SW Calgary, Alberta, Canada T2P 3H2 www.KeltExploration.com

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