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April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc.

Miller Energy Resources, Inc. · Apr 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. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 1
    Miller Energy Resources Shareholder Meeting April 2014
  2. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 2
    Executive Overview We believe Fiscal 2015 finds us poised for continued value creation with all the necessary pieces in place access to favorable financing, promising drilling targets, wellbore diversification, and a favorable…
  3. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 3
    Alaska Development Advantages Osprey Rig 35 Underexploited Basin with Significant Upside Multiple stacked-pay development targets Opportunities for lower risk sidetrack drilling Strong Incentives Exist for Development in Alaska Tax…
  4. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 4
    E&P Asset Overview Existing Alaskan Approximately 3,249 boe/d of production at 12/31/13 Operations Significant development opportunity through 3P Osprey platform designed for 21 wells producing 25,000 boe/d with additional Capacity…
  5. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 5
    Infrastructure Asset Overview Alaska Osprey offshore Platform Kustatan production Facility West McArthur, WF production Facilities North Fork Field pipelines and compression equipment 65 miles of pipelines Tennessee…
  6. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 6
    Fiscal 2014 Highlights Increased Production Miller has continued to grow production during Fiscal 2014 Increases due to optimization, reworks, and new drilling Production increased 219% from 1,350 boe/d at 4/30/13 to 4,300 boe/d at…
  7. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 7
    Average Daily Production Growth During Fiscal 2014, Miller Energy Fiscal 2014 Daily Production Growth worked over, recompleted, or drilled (boe/d) the following wells in Alaska 5,000 RU-1A: sidetrack 4,500 4,300 RU-2A: sidetrack…
  8. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 8
    Growth in Proved Developed Reserves and Proved Developed PV-10 Proved Developed Reserves Proved Developed Reserve PV-10 Value (mboe) ( millions) 9,000 400.0 8,384 365.8 8,000 350.0 7,000 300.0 6,000 250.0 +420% +1015% 5,000 200.0…
  9. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 9
    Decreasing Cost of Capital Current Financing 175MM 4-Year Second-Lien Secured Credit Facility by Apollo Investment Corp and Highbridge Principal Strategies at 11.75%, fully drawn at closing In process of establishing first lien…
  10. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 10
    Unlocking Adjacent Fault Block Value in Redoubt Field Worked-over two gas wells, became gas self sufficient, started gas sales 2013 Six target fault blocks Successfully developed two (2) fault blocks Four (4) fault blocks remain…
  11. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 11
    Unlocking Onshore Value in West McArthur River Unit Started with WMRU Recently drilled into Sword (adjacent fault block) based on DSTs and 3D seismic data, adding significant proved reserves and production Plan to drill Sabre…
  12. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 12
    Alaska Onshore Activities Sword-1: Drill, tested, and completed well (883 BOED 1 of 3 zones), currently testing two other oil zones WMRU-8: Drilled & completing WMRU-2B: Currently drilling, (sidetracked WMRU-2A) Sabre:…
  13. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 13
    Sword Log Upper Tyonek Testing and producing oil, awaiting IP rate G-0 Zone Testing and producing oil, awaiting IP rate Hemlock Zone Current rate 600 bopd average 13
  14. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 14
    North Fork Acquisition 100% working interest in 185 million of Proved and Probable PV-10 Probable SEC PV-10: 93.1 Million Total Proved SEC PV-10: 92.3 Million Includes six (6) natural gas wells, production and processing…
  15. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 15
    Trans-Foreland Pipeline Pioneers of concept, new crude oil pipeline linking west side to east side Partnered with Tesoro pipeline group to fund feasibility, design and engineering Over the last two years our companies have…
  16. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 16
    New Rig-36 Recent Land-base Rig Purchase Entered into option to purchase rig for 3.25MM, including deposit 2400-HP, 25,000 drilling capabilities Planned rig improvements needed for Sabre prospect ie. high PSI mud system, pits,…
  17. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 17
    Tennessee Operations Control approximately 47,000 Gross Acres Operates 190 Oil and 190 Gas wells On-going purchase of WI in wells to further production Re-working older wells to enhance production Drilled the first Horizontal…
  18. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 18
    Summary Increased shareholder value in FY 2014 by reworking, sidetracking and drilling new wells North Fork acquisition Refinanced debt at lower cost Continuing to add shareholder value with continued offshore and onshore…
  19. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 19
    Appendix 19
  20. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 20
    Corporate Organization Chart Miller Energy Resources, Inc. Corporate Organization Chart Board Of Directors Scott Boruff Audit Pre-2008 Committee CEO 2008 Finance and Accounting Legal Operations 2009 Director of Internal…
  21. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 21
    Alaska Organization Chart Alaska Operations David Hall 2009 COO & CIE CEO Corporate Controller 2010 2011 CIE Pres., HSE Manager 2012 2013 AK, Controller 2014 Compliance Adv. Commercial Manager Senior Land Man…
  22. April 2014 Annual Shareholder Meeting – Miller Energy Resources, Inc. – slide 22
    Tennessee Organization Chart Tennessee Operations Pre-2008 David Hall 2008 COO 2009 2010 David Wright 2011 EVP Tennessee Operations 2012 2013 2014 Field Operations Manager Drilling Superintendent & Completion Manager…

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