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MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp.

Spyglass Resources Corp. · Mar 9, 2015 · 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. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 1
    Intermediate, Commodity Balanced Resource Company Corporate Presentation March 2015
  2. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 2
    Strategic Path Forward Manage through the current commodity price environment by prudently allocating capital and reducing costs Execute additional non-core dispositions to further reduce leverage Target a debt to cash flow ratio…
  3. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 3
    Low Decline, Long Life Assets 9,000 boe/d 2015 production guidance 21 % base decline Organic growth potential driven by southern Alberta light oil plays 4
  4. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 4
    Core Focus Areas Low Decline and Balanced Production Corporate: Dixonville: Q4 2014 production: 2,239 boe/d Q4 2014 average production: 12,666 boe/d Base decline rate: 10% Oil & Liquids 45% Oil & Liquids 82% Base decline rate: 21% Key…
  5. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 5
    2015 Capital Program 2015 Focus Spending reduced to reflect commodity prices Primarily maintenance capital initiatives with the majority of drilling projects deferred until commodity 2015 Capital prices improve 8 Million…
  6. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 6
    Drilling Inventory: Development Portfolio 5 15 Loc 15 30 Loc SAB MNVL Drilling Inventory CH 2014 Play Additions 30 50 Loc NOEL CENTRAL AB MATZIWIN PEKISKO 50 + Loc CADOMIN VIKING Lowest Risk Highest Risk…
  7. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 7
    Southern Alberta Current success drives future organic growth 8
  8. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 8
    Southern Alberta Asset Overview Same play types across 4 key areas Matziwin - continued Pekisko development Cessford encouraging drilling results within Banff and Glauconite Drumheller new core focus area offsetting competitor…
  9. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 9
    Matziwin and Cessford Light Oil Development Area Resource Banff, Pekisko and Glauconite zones 58,000 net undeveloped acres 100% working interest 23 - 28 API oil gravity 60 100 plus net well locations Potential to down space to…
  10. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 10
    Retlaw / Enchant Glauconite and Upper Mannville Resource Over 20 net vertical and horizontal locations identified 33% - 100% working interest 20 - 27 API oil gravity 11
  11. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 11
    Drumheller Banff, Detrital and Basal Quartz Early Stage Play Development Large future development potential Lands continued by production Banff, Detrital and Basal Quartz offsetting production Bypassed oil pay identified in…
  12. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 12
    Dixonville Mature, low-decline, oil asset under full waterflood Stable Production Excellent Cash Flow OOIP(1) [MMBBL] 188 Total Proved + Probable [%] 15.4 Recovery(1) Recovery to date(1) [%] 4.7 Recently sold 50% non-operated…
  13. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 13
    Dixonville Waterflood Development History Potential for future development of eastern lobe 14
  14. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 14
    Dixonville Field History 100,000 Oil Rate (CD) bbl/d Gas Oil Ratio scf/bbl Dixonville Water Inj Rate (CD) bbl/d Phase 3 Phase 4 & 5 Pipeline Phase 2 Start-up Start-up Incidents Start-up 10,000 1,000 Pilot and Phase 1…
  15. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 15
    Mature Reserves Selected Reserves Information as at Dec. 31, 2014(1)(4) Total Proved plus Probable Reserves by Category Nat. Gas NGL Total Btax NPV Oil (Mbbl) (MMcf) (Mbbl) (Mboe)(2) 10% (MM)(3) Proved Developed Producing 13,041…
  16. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 16
    Managing Commodity Price Volatility Natural Gas Hedging Crude Oil Hedging(1) 3,000 102.00 12,000 4.40 2,500 10,000 4.00 99.00 2,000 8,000 Bbls/d Mcf/d 3.60 1,500 96.00 6,000 3.20 1,000 4,000 2.80 93.00…
  17. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 17
    Mature, low-decline base with organic growth opportunity Extensive inventory of low-risk, light-oil development key to long-term value creation Southern Alberta properties with potential to drive organic growth Encouraging…
  18. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 18
    Appendix 19
  19. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 19
    Experienced Leadership Management Team Board of Directors Dan OByrne, P.Eng, MBA President, CEO & Director Tom Buchanan, FCA Chairman Mark Walker, CMA Senior VP Finance & CFO Randy Findlay, P.Eng Lead Director Kelly Cowan Senior VP…
  20. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 20
    Underpinning the Model Low Decline, Balanced Production Base Q4 2014 Q4 2014 Production (boe/d) Est. Base Production Decline Core Area (boe/d) Oil & Liquids Rate Southern AB 4,500 51% 23% Dixonville 2,239 88% 10% Other Northwest AB…
  21. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 21
    Low Risk, High Return Development Portfolio Development Plays 1st yr Op 1st yr NPV at Capital F&D Unrisked Single Well EUR Capex 30 day IP Costs Netback 10% Efficiency Costs (1) Economic Indicators (Mboe) (MM) % Oil (boe/d) (/boe)…
  22. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 22
    Key Attributes & Outlook Operational 2015 Guidance Q4 2014 Production [boe/d] 12,666 2015 Average Production [boe/d] 9,000 boe/d % Oil & Liquids [%] 45% 2015 Capital Expenditures [MM] 8 (1) Total Proved Reserves [MMboe] 36.1 (1)…
  23. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 23
    Halkirk Provost Asset Overview Halkirk-Provost Q4 2014 Results Production [boe/d] 744 % Oil & liquids [%] 61% Base Decline Rate [%] 35% Assumption 24
  24. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 24
    Noel Cadomin Resource Play Over 85 prospective locations Locations are low risk infill or extensions to a well established gas play Potential to add over 200 bcf of reserves High initial production rates Ample infrastructure…
  25. MARCH 2015 CORPORATE PRESENTATION – Spyglass Resources Corp. – slide 25
    Corporate Information Lead Bankers: National Bank of Canada Legal Counsel: Blakes, Cassels & Graydon LLP Toronto Dominion Bank Norton Rose Canada LLP Transfer Agent: Computershare Trust Company of Canada Analyst Coverage: AltaCorp…

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