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APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp

Granite Oil Corp · Apr 7, 2015 · 36 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. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 1
    GRANITE Oil Corp.
  2. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 2
    DTX-Boulder/Granite Arrangement Share Exchange 100% of the value of DeeThree will be owned by Granite and Boulder following the Arrangement Each DeeThree Share is exchanged for 1/2 of a Boulder Share + 1/3 of a Granite Share…
  3. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 3
    Granite-Boulder Strategic Rationale Granite Oil Corp. Optimize Return Alberta Bakken Play Free Cash Flow-generating, low-decline conventional oil pool 100% land and infrastructure control on large oil asset Established gas injection…
  4. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 4
    Summary of Transaction Announced April 7, 2015; Plan of Arrangement mailing mid-April; Shareholder vote mid-May 2015 Each DTX shareholder will receive 0.5 share of Boulder Energy Ltd. and 0.33 share of Granite Oil Corp. per DTX…
  5. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 5
    Granite Oil Corp. Market Facts TSX Symbol To be determined Common Shares Outstanding Basic (MM) 30.2 Fully Diluted (MM) 30.4 Insider Holdings Basic (%) 15.8 Fully Diluted (%) 16.6 Financial Highlights Market Capitalization…
  6. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 6
    History of DTX Assets BOE/D AND CASH FLOW PER SHARE (CFPS) GROWTH 14000 0.60 12000 0.50 10000 0.40 Total BOE/d Production 8000 CFPS () 0.30 6000 0.20 4000 0.10 2000 0 - Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3…
  7. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 7
    Granite Strategy Sustainable Dividend + Organic Growth Highly concentrated, 100%-owned oil property Large OOIP: 222 Mmbbl Discovered Petroleum Initially-In-Place (DPIP) & 257 Mmbbl Undiscovered Petroleum Initially-In-Place (UPIP;…
  8. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 8
    Keys to a Strong, Sustainable Dividend Company KEY REQUIREMENTS GRANITE OIL HIGHLIGHTS DETAILED SLIDES Strong Capital Organic, low costs, established land and 11, 22, 26 Efficiencies infrastructure Large oil asset with proven…
  9. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 9
    The Asset
  10. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 10
    Alberta Bakken Development Timeline EOR PILOT Test Secondary Recovery with gas injection EXPLORATION Design Infrastructure for MAXIMIZE RETURNS Alberta Bakken Discovery: Full-Scale Deployment Maximize Oil Recovery Reagan 1-3…
  11. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 11
    Alberta Bakken Total Lands 350,000 net Bakken acreage Core Production 4,050 BOE/d (Q4 2014), 100% Working Interest 87% Oil and NGLs West Development Delineation success west of the Core in 2014 increases inventory and…
  12. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 12
    Infrastructure 100% Ownership & Control TransCanada Meter Station 100%-Owned Pipeline Infrastructure 100%-Owned Oil Battery 8,000 bbl/d 20,000 bbl storage 100%-Owned Gas Plant Granite Land Horizontal Well…
  13. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 13
    Bakken Pool Development and Drilling Inventory PHASE 1 EOR 8 Wells / Section PHASE 2 EOR PHASE 3 EOR 48 Wells 8 Wells / Section 8 Wells / Section 16 Wells 32 Wells WEST BAKKEN DEVELOPMENT 4 Wells / Section 66 Wells G…
  14. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 14
    Gas Injection Enhanced Oil Recovery
  15. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 15
    Maximizing Recovery and Capital Efficiency Proven results from gas injection EOR scheme: Observed improvement in production decline profile in new and existing wells Produced gas is re-injected into the reservoir to maintain…
  16. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 16
    Results Mitigating Long-term Pool Declines LEGEND Gas Injection Well Water Injection Well Wells Included in Decline Analysis in Study Area Wells Drilled and Completed New 2H14 / Q1 in 2H14 / Q1 2015 2015 Production Excluded…
  17. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 17
    Results Mitigating Initial Well Declines Comparison of Well Declines With and Without EOR Support 1000 EOR SUPPORT FROM INITIAL PRODUCION 100 Oil Production (Bbl/d) NO EOR SUPPORT Wells Outside EOR Show 10 Typical…
  18. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 18
    Production (bbl/d) Production (bbl/d) Production (bbl/d) 10 100 1000 1 1 10 100 1000 1 10 100 1000 2012-07 2012-03 2014-03 2012-09 2014-04 2012-06 2012-11 2013-01 2014-05 2012-09 2013-03 2012-12 2014-06 2013-05…
  19. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 19
    The Process C5+ Hydrocarbons to Compressor Sales Gas Plant Dry Gas to Compressor Compressed Gas Separator Re-injected Produced Oil + Gas Oil to Sales EOR Basics Injected gas in the top of the reservoir increases/maintains…
  20. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 20
    Optimizing Drilling Miscible Gas Injected into the Top of the Reservoir Increases Pressure and Oil Mobility Limestone Cap Deeper Infill Production Wells Optimize Reservoir Drainage G R A N I T E O I L C O R P. 20
  21. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 21
    Injection on Structural Highs ALBERTA BAKKEN TOP STRUCTURE -1250 m Planned 2015 Depth Infill Gas Injectors -1300 m Gas Injection on Structural Highs Supports Pressure Drive for Deeper Producers G R A N I T E O I L C…
  22. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 22
    EOR Area Phase 1 Development - Ten Year Drilling and Injection Plan POOL DEVELOPMENT 48 Well PLAN - YEAR 2025 Inventory Optimize EOR efficiency in the Core: on 200 m Down Spacing Re-inject 100% of produced gas from the Bakken pool…
  23. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 23
    Long-Term Organic Gas Supply and Injection Facilities BOW ISLAND GAS POOL ISOPACH Three secure, organic gas sources provide long-life EOR support: Produced gas from the Bakken pool 100%-owned, existing non-Bakken gas production…
  24. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 24
    Economics
  25. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 25
    Three-Year Business Plan Dividend + Growth 6000 80 5000 70 4000 Production (BOE/d) 28 60 50 5 3000 MM 11 11 40 72 2000 30 2 6 48 13 20 32 33 1000 20 10 15 0 0 2H 15 2016 2017 Cash Flow Hedges Capex…
  26. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 26
    Sustainable Below 50 WTI 4500 4000 35 3500 2 0 0 30 3000 4 11 11 Production (BOE/d) 25 2500 13 6 MM 20 2000 29 31 15 1500 20 20 17 1000 10 14 500 5 0 0 2H 15 2016 2017 Cash Flow Hedges Capex Dividend Free…
  27. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 27
    Well Economics TYPE WELL DEFINITION Bakken Type Well 300 Well Cost: 2.8 MM EUR: 240 Mbbl 250 Capital Efficiency: 15,000 per 200 daily flowing bbl Bbl/day Year 1: 190 bbl/d average 150 Well F+D: 11.67 / bbl 100 Royalty: Freehold…
  28. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 28
    2015 Budget Initial Production Level 3,900 BOE/d Oil & NGLs 3500 Gas 400 Reserves MMBOE (Sproule P&P) December 2014 17.97 Guidance 2H15 CAPEX (MM) 20 2H15 Production 4000 2016 CAPEX (MM) 32 2016 Production 4500 G R A N I…
  29. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 29
    West Bakken 2015 Planned Delineation Drilling 2015 Planned Delineation Wells 2014 Pool Extension G R A N I T E O I L C O R P. 29
  30. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 30
    Hedges/Tax Pools 100% 100 90% 80% 81.93 81.93 TAX POOL CATEGORY AMOUNT (MM) 80 70% CDE 129 Production Hedged (%) Hedge Prices (US/bbl) 78.42 78.42 62% 60.37 60.37 62.40 62.40 60% UCC 8 60 58% 60.37 60.37…
  31. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 31
    The Team
  32. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 32
    Granite Oil Corp.s Team MANAGEMENT TEAM Michael Kabanuk President and Chief Executive Officer Mr. Kabanuk is a Professional Engineer with 23 years of engineering and management experience in the oil and natural gas industry. As a…
  33. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 33
    Granite Oil Corp.s Team BOARD OF DIRECTORS Brendan Carrigy Chair Kevin Andrus Martin Cheyne Michael Kabanuk Henry Hamm Dennis Nerland Bradley Porter G R A N I T E O I L C O R P. 33
  34. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 34
    APPENDIX
  35. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 35
    Testing EOR Demonstrating Sustainable Results 1000 EOR Support after 18 Months of Production EOR Successfully Unsupported Supporting Decline Production 100 Oil Production (Bbl/d) 100/06-23-003-17W4/00 4000 Commence…
  36. APRIL 2015 INVESTOR PRESENTATION – Granite Oil Corp – slide 36
    EOR Recovery - Preliminary Petrel Modeling Conservative EOR Development Model Modeled Oil Recovery Factor - EOR Core Area Shows Potential for 2xs Higher 18.0 Recovery than 16.0 Primary Production Alone 14.0 Recovery Factor…

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