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EnerComs The Oil Services Conference – American Eagle Energy Corp

American Eagle Energy Corp · Feb 19, 2014 · 22 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 The Oil Services Conference – American Eagle Energy Corp – slide 1
    PROVEN: EXPERTISE PROVEN: RESULTS American Eagle Energy Corp (AMZG) Investor Presentation February 2014 Williston Basin (Bakken / Three Forks) Oil Focused Operator
  2. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 2
    AMERICAN EAGLE ENERGY CORPORATION Proven expertise Operating & technical team drilled the first Middle Bakken well in the Williston Basin in 2001 and has since drilled hundreds of wells in the Basin Management was on the Halliburton…
  3. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 3
    COMPANY OVERVIEW American Eagle Energy Corporation is an exploration & production operator focused on the Williston Basin (Bakken and Three Forks Formations), based in Denver, Colorado. Listing: NYSE MKT: AMZG Common Shares…
  4. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 4
    MANAGEMENT Brad Colby President / CEO 30 years experience in E&P development with technical background in engineering and geology Experienced in asset acquisition, development, and drilling joint ventures Strong business background…
  5. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 5
    WILLISTON BASIN SPYGLASS OPERATING AREA Spyglass: Northwest Divide County, North Dakota, part of Williston Basin core well results AMZG 29,600 net acre Spyglass Area 6
  6. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 6
    PRODUCTION & RESERVES 2,500 Production Growth PV-10 Growth 271.4 300 2,000 37.9 250 63.1 1,500 200 BOEPD Millions 150 1,000 1,900 1,800 233.5 1,288 1,362 100 170.4 500 972 118.5 706 50 364 147 251 35.5 - Q1:…
  7. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 7
    WILLISTON BASIN STRATIGRAPHY 8
  8. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 8
    WELL ECONOMICS SPYGLASS VS TYPICAL WB Spyglass: Lower CapEx & flatter decline curve produce impressive IRRs & quick payback Spyglass - Well Economics Typical Williston Basin - Well Economics High Base Low High Base Low EUR (Mboe) 720…
  9. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 9
    DIVIDE COUNTY WELL COMPARISONS Spyglass Area Divide Wells Display Comparable Cumulative Oil Performance Over Time Versus Other Areas of Williston Basin 250,000 Divide Co Wells McKenzie Co Wells Christianson 15-12 200,000 Cody…
  10. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 10
    WILLISTON BASIN ACREAGE Current Optional 3/31/14 Acquisition3 Acq. Pro-Forma Acq. DSU 1 Gross Net AMZG Net Net AMZG Prospect Area DSUs Acres Acres Acres WI Acres Acres WI Spyglass - Proved 9 1,280 11,520 5,893 51% 905 6,798 59%…
  11. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 11
    SPYGLASS PRODUCING WELLS/OPERATORS Low risk development with hundreds of producing wells surrounding operating area AMZG Operating Area 12
  12. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 12
    SPYGLASS AMZG OPERATING AREA Developing wells to west and expanding beyond the 28 producing wells in Proved area AMZG Haugen Well Three Forks Farm-Out ---- Drilled Awaiting Completion AMZG Ella Well Three Forks Farm-Out…
  13. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 13
    SPYGLASS DRILLING INVENTORY Current DSU Size Net Potential Wells Unrisked Potential NRI Per Well EUR Total Unrisked Project Area DSUs (Acres) Acres per DSU1 Locations NRI Wells (Mboe)2 Potential (Mmboe) Spyglass Proved 9 1,280 5,893…
  14. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 14
    GUIDANCE CAPEX AND PRODUCTION 2014 Operated Development Plans: 2014 Operated Development Plans: 1 gross well remaining to be 1-2 rigs expected to drill 21 gross wells which drilled/completed & financed by JV partner equates to…
  15. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 15
    CAPITALIZATION (1) (2) Sept. 30, 2013 Equity & MS Acquisition Sept. 30, 2013 American Eagle Energy - Capitalization Summary (Actual) (Oct 2013) (Oct 2013) (Pro Forma) (All amounts in 000's) Cash 19,038 64,994 (45,070) 38,962 20.3…
  16. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 16
    VALUATION VS. BAKKEN OPERATING COMPS Adjusted Acreage Valuation EV / LQ Annualized EBITDA 16,000 8.6x 14,305 9x 14,000 8x 7x 6.2x 6.3x 12,000 5.7x 8,856 6x 5.1x 10,000 5x 8,000 6,218 4x 6,000 3x 4,000 2,453 2x 1,946 2,000…
  17. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 17
    VALUATION SUPPORTING DETAIL (Market data as of 2/12/14; numbers in millions, except per share and acreage values) Peer Metric KOG OAS TPLM EOX Average AMZG Current Stock Price 11.63 42.23 8.00 7.11 1.82 Shares Outstanding 266.0 100.7…
  18. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 18
    HEDGING SUMMARY & PHILOSOPHY Active hedging program supports capital spending, protects cash flow, and helps ensure strong financial coverage metrics Approximately 60% of current production hedged Plan to add swaps on ongoing basis to…
  19. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 19
    RECENT FINANCING AND AGREEMENTS Sold 5.0MM shares of common stock 2.00/share in August 2013 17% premium to prior days closing price. Sold 15.8MM shares of common stock 1.70/share in October 2013 Brought in long-term, institutional…
  20. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 20
    OPTIONAL ACQUISITION Agreement with option to purchase 8,250 net acres with 450 BOEPD from JV partner for 47 million by March 31, 2014 with June 1, 2013 effective date Purchasing production for 104K per BOEPD, very favorable compared to…
  21. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 21
    KEY INVESTMENT HIGHLIGHTS Proven and aligned operating management team Experienced Williston Basin operating & technical team Management and insiders own approximately 18% of shares outstanding Management has a track record of…
  22. EnerComs The Oil Services Conference – American Eagle Energy Corp – slide 22
    CONTACT INFORMATION Marty Beskow, CFA Vice President of Capital Markets & Strategy American Eagle Energy Corporation 2549 West Main Street, Suite 202 Littleton, CO 80120 303-798-5235 martybeskowamzgcorp.com 23

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