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ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp

Triangle Petroleum Corp · Aug 18, 2011 · 38 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. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 1
    AUGUST 16, 2011 ENERCOMS THE 2011 OIL & GAS CONFERENCE
  2. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 2
    P R E S E N T A T I O N T I T L E Table of Contents I SUMMARY 1 II ACREAGE OVERVIEW 3 III WILLISTON BASIN GEOLOGY 4 IV STATION PROSPECT 9 V OPERATIONS 12 VI FINANCIAL OVERVIEW 26 VII KEY INVESTMENT CONSIDERATIONS 29
  3. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 3
    I Summary
  4. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 4
    I SUMMARY Summary 72,050 net acres, 44% operated, acquired at 1,300/acre in the Bakken Oil Play 30,000 net acres in Core Area, including 22,000 net acres in Dunn, Divide, McKenzie and Williams counties with average per well IRR…
  5. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 5
    I SUMMARY Executive Management Team TITLE PERSONNEL PRIOR EXPERIENCE Most recently with Palo Alto Investors, LLC Peter Hill has been Director and Chief Executive Officer of Triangle since December 2009. Dr. Hill has over 39…
  6. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 6
    II Acreage Overview
  7. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 7
    II ACREAGE OVERVIEW Williston Basin Acreage Position Triangle holds a meaningful acreage position west of the Nesson anticline in the Williston Basin 37N 45E 37N 46E 37N 47E 37N 48E 37N 49E 37N 50E 37N 51E Sa l t L a k…
  8. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 8
    III Williston Basin Geology
  9. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 9
    III WILLISTON BASIN GEOLOGY Williston Basin Highlights Industry has substantially de-risked the Play defining commercial boundaries 8mm acre continuous oil accumulation 250-400bn barrels of estimated oil in place (NDIC, ND…
  10. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 10
    III WILLISTON BASIN GEOLOGY Bakken Petroleum System Bakken Kitchen Continuous, over-pressured oil trap 5 Source: Continental Corporate Presentation, 2011.
  11. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 11
    III WILLISTON BASIN GEOLOGY Middle Bakken Acreage Geology Map overlay below represents Middle Bakken oil saturation; Triangle has targeted lease acquisitions in areas with 30% oil saturation (shown in green) WILLISTON BASIN…
  12. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 12
    III WILLISTON BASIN GEOLOGY Three Forks Acreage Geology The Three Forks formation is present on nearly 100% of Triangles Williston acreage in varying degrees of thickness of up to 55 feet WILLISTON BASIN LEASEHOLD MAP THREE FORKS…
  13. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 13
    III WILLISTON BASIN GEOLOGY Williston Basin Schematic Cross Section Up to 9 play-types identified in the Bakken Play Controlled by geology and basin geometry Station Prospect has 5 play type targets SOUTHWEST NORTHEAST…
  14. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 14
    IV Station Prospect
  15. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 15
    IV STATION PROSPECT Station Prospect Key Features 0 37N 52E 37N 53E 164N 103W 36N 42E 00 - 35 37N 54E 36N 43E 37N 55E 36N 44E 37N 56E 36N 45E 37N 57E 37N 58E 36N 46E 36N 47E 36N 48E 163N 103W 36N 49E 36N 50E 36N…
  16. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 16
    156FT IV STATION…
  17. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 17
    IV STATION PROSPECT Station Prospect The below map displays Triangles acreage position, underlain by Triangles interpretation of the level of Bakken oil saturation in the area Triangles regional mapping shows that oil saturation…
  18. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 18
    V Operations
  19. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 19
    V OPERATIONS Select Non-Operated Well List Triangle WI Producing Well Name Operator Status (%) COUNTY Target Township Range Federal 4-11H Kodiak Producing 26.25% McKenzie BKKN 147N 105W Grizzly 1-27H R Kodiak Producing 26.25%…
  20. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 20
    V OPERATIONS Experienced, Growth-Oriented Operational Team Triangle has approached the buildout of its operational team by focusing on five key operational disciplines outlined below 4 Legend Description Subsurface 1 3…
  21. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 21
    V OPERATIONS Experienced, Growth-Oriented Operations Team OPERATIONAL DISCIPLINE PERSONNEL PRIOR EXPERIENCE Most recently with EOG Resources, Inc. After 30 years of service, Mr. Perez took early retirement from EOG Resources,…
  22. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 22
    V OPERATIONS Path to Operatorship Converting Non-Operated to Operated Goal of 70% operated / 30% non-operated position Controls pace of development Maximize operational efficiency and reserve capture Control cost base…
  23. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 23
    V OPERATIONS Operational Strategy and Execution Strategy: Safety, environment and efficiency are paramount in Triangles strategy Capitalize on Bakken knowledge and technology to efficiently develop position Plan for success;…
  24. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 24
    V OPERATIONS Drilling XTREME DRILLING RIG 7 Contract and Execution Two-year term Estimated spudding of first well by October 1, 2011 Sister rig currently working in the basin 23,500 day rate Inventory 1,000 HP…
  25. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 25
    V OPERATIONS Growing From 1 Rig 3 Rigs Ongoing evaluation of securing additional drilling rigs Triangle Operations is planning to expand to 3 drilling rigs by year-end 2012 New-build options are readily available for Q312…
  26. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 26
    V OPERATIONS Development Strategy Initial Drilling Plans and Multi-well Pad Design 19
  27. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 27
    V OPERATIONS Drilling Unit Layout 1,280 Acre Drilling Unit: 2 well pads per 1,280 unit Plan 4 wells per well pad Up to 2 Middle Bakken laterals (9,800 length in zone) Up to 2 Three Forks laterals (9,800 length in zone) Total…
  28. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 28
    V OPERATIONS Completions STAGGERED (ZIPPER) STAGES IN PARALLEL LATERALS Strategy Generate an inventory of 5 to 7 wells through winter 2011- 2012 Begin completions in Q212 Batch complete multiple wells back-to-back Maximize…
  29. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 29
    V OPERATIONS Planned Well Profile 1,280 Acre Drilled Lateral Design Accommodating to planned completion technique Optimized for production life of well use gas lift Flexible to incorporate identified, future, up-hole…
  30. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 30
    V OPERATIONS Integrated Production and Marketing Strategy OPERATIONAL EFFICIENCIES COST CUTTING AND MARKETING FOCUS Reduce gathering, disposal and labor Reduce facility and infrastructure cost Opportunity to develop additional…
  31. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 31
    V OPERATIONS Integrated Production and Marketing Strategy INFRASTRUCTURE COSTS BY CATEGORY ARTIFICIAL LIFT COSTS 1,400 1,200 400 1,000 KUSD per Well 800 3,000 TFPD 350 2,000 TFPD 600 1,000 TFPD 2 Year PV10 KUSD…
  32. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 32
    V OPERATIONS Drilling & Completions Schedule October W1, We ll 1, P a d 1 - - P ro duc t io n P1 We ll 1, P a d 2 W1, T o be re o c c upie d a t la t e r da t e We ll 1, P a d 3 - - P ro duc t io n P3 t o drill a ddit…
  33. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 33
    VI Financial Overview
  34. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 34
    VI FINANCIAL OVERVIEW Current Financial Position AS OF AUGUST 11, 2011 CURRENT COMMITMENTS & OTHER OBLIGATIONS 110mm of cash No hedges No debt Two-year rig contract with Xtreme Coil Drilling Corp. Share Price: 6.41 Xtreme…
  35. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 35
    VI FINANCIAL OVERVIEW Focus on Liquidity DETAILED SOURCES AND USES (AUGUST 1, 2011 THROUGH DECEMBER 31, 2012) Uses Low Range High Range Comments Operated Drilling Program 85.0 110.0 Can accelerate / decelerate as needed…
  36. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 36
    VI FINANCIAL OVERVIEW Budget & Operated Well Count BUDGET ALLOCATION: 80% TO THE DRILLBIT FORECAST PRODUCTION EXIT RATE BY QUARTER 3,000 4% Operated Drilling 2,500 12% Program Non-Operated Drilling 2,000 5% Program 46%…
  37. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 37
    VII Key Investment Considerations
  38. ENERCOMS 2011 OIL AND GAS CONFERENCE – Triangle Petroleum Corp – slide 38
    VII KEY INVESTMENT CONSIDERATIONS Key Investment Considerations 72,050 net acres, 44% operated, acquired at 1,300/acre in the Bakken Oil Play 30,000 net acres in Core Area, including 22,000 net acres in Dunn, Divide, McKenzie and…

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