Skip to main content 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. Investor Presentation | Shale Experts
Loading...
Pm

26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc.

Saratoga Resources Inc. · Mar 10, 2014 · 35 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. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 1
    Presentation to 26th Annual ROTH Conference Dana Point, CA - March 10th, 2014 www.saratogaresources.com
  2. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 2
    Company Overview Saratoga Resources, Inc. is an independent E&P company engaged in the production, development, acquisition and exploitation of crude oil and natural gas properties with assets on state/parish leases in the shallow…
  3. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 3
    Why Invest in SARA 50,000 Net Acres Held to All Depths, 60% HBP. 100% WI in Substantially All Wells. Multiple Recompletion/Workover Opportunities. Large Inventory of PUD Wells with Multiple Objectives. EURs = 200-600 MBOE per Well.…
  4. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 4
    Reserves Profile 53.6% Oil Not including 8 TCF plus 600 MMBO deep oil/gas or 50 BCF shallow gas potential (1) Collarini and DeGolyer & McNaughton 1/1/14 reserve reports using SEC pricing, adjusted for quality and location, or…
  5. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 5
    Reserves Reconciliation 100% Reserves Replacement (1) Collarini and DeGolyer & McNaughton 1/1/14 reserve reports using SEC pricing, adjusted for quality and location, or average realized pricing of 108.64/Bbl and 4.35/Mcf. 5
  6. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 6
    2014 Activities Continue Detailed Field Studies Reservoir Simulation Planned for 5800 Sand in BS-32 Field and for Selective Sands at Grand Bay Field Drill More Horizontal Wells: Plan additional Horizontal and/or High Angle…
  7. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 7
    Grand Bay Long Life Wells Grand Bay Field was discovered by Gulf Oil in 1938. Cumulative production of 256.9 MMBOE with 83% Oil versus Gas. Virtually undeveloped at depths 12,000 feet. Only 12 wells have been drilled since 3D seismic…
  8. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 8
    Grand Bay Field 70 Years On & Still Going Strong Here are just a few examples showing long life production from individual sands in active wells QQ174 WELL (1972) QQ161 WELL (1968) A29 WELL (1947) CUM. 2.2 MMBOE CUM. 1.8 MMBOE CUM. 1.4…
  9. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 9
    Grand Bay Well EURs The Top 10 sand producers in Grand Bay Field account for 60% of the total cumulative production of 250 MMBOE TOP 10 SAND PRODUCERS BASED ON CUMULATIVE BOE, AS OF 9/2009 The average EUR per completion has been…
  10. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 10
    Development Well EURs EURs = 200-580 MBOE Avg EUR = 296 MBOE F&D Cost = 11-30/BOE Avg F&D Cost = 20.50/BOE (1) EURs are net to SARAs WI%; capital expenditures includes total sunk costs plus future capex, including recompletions…
  11. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 11
    3A Sand, QQ209 Well NuTech Log Analysis QQ 209 3A Sand Pay Section The QQ 209 Buddy well was completed in 1Q 2013 in the 3A Sand. IP rate: 275 Bopd, 81 Mcfpd (208 net Boepd), FTP 580, 19/64 choke. Commenced gas lift in…
  12. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 12
    The Case for Horizontal Wells Good application in areas of low structural dip. Good application where strong water drive. Good well control with 3D helps reduce risk. Substantially reduced drawdown leading to stable OWC and…
  13. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 13
    Saratogas Coning Model 13
  14. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 14
    Saratogas Coning Model V-Well H-Well 14
  15. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 15
    Breton Sound 32 Drilling 5800 Sand Orig O/W -5780 Current O/W -5776 Rocky 1 H-Well Planned Rocky 2 H-Well Planned Charlie H-Well Zeke Well Pre-existing H-Wells SARA H-Wells 15
  16. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 16
    Rocky SL 1227 25 Well, BS-32 SL 1227 25 ST01 Post Well Lateral Measured Depth Log TVD Log The Rocky well targeted the elongated ridge, offsetting the 21 & 22 wells in the 5800 sand. A 70o directional pilot hole was drilled…
  17. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 17
    Grand Bay Proposed Wells Shallow Gas Prospects Recent Wells Proposed PUD Wells Proposed GB Deep Wells 2014 Potential Wells Goldeneye SARA HBP Acreage 17
  18. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 18
    GB Deep Opportunities There are 9 low-medium risk deep drilling opportunities with objectives in the Tex L & Cib Carst (25 thru 43 sand) sequence. Some of the prospects are anchored by a primary objective with either an…
  19. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 19
    GB Deep Play Cross Section The Goldeneye well will target geopressured Tex L to Cib Carst sands down to 16,500 19
  20. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 20
    Goldeneye Prospect AVO Sweetness Z-Score Display for Tex L 25 Sand Proven 25 Sand Pay Proven 25 Sand Pay 19 BCF + 700 MBO 13 BCF + 607 MBO Teal Prospect 80ms windowed amplitude extraction (maximum) centered on 25 Sand…
  21. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 21
    Goldeneye Prospect AVO Sweetness Z-Score Display for Cib Carst 43 Sand A60 Well Tested 300 BOPD 80ms windowed amplitude extraction (maximum) + 700 MCFD centered on 43 Sand Goldeneye Prospect 1 Mile 620 Acres Significant…
  22. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 22
    New Breton Sound Leases Tiger Toux SARA acquired two new leases in Prospect Breton Sound Blocks 18/19 and 32 North at the State of Louisiana oil and Tiger Well gas lease Sale on September 11, 2013. These are 3 years leases…
  23. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 23
    3D Acquisition, S Louisiana Deepwater GoM, West Africa FLORES & RUCKS After Lawless 2010 23
  24. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 24
    2013 Producers in S. Louisiana Ref: http://sonris.com. 24
  25. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 25
    Where the T-Zone Action is Ref: http://sonris-www.dnr.state.la.us/gis. TRANSITION ZONE Petroquest FCX/EXXI La Cantera Lomond N Discovery Saratoga BS-32 H-Wells Saratoga Northstar Grand Bay Chevron/FCX Shoreline Creole…
  26. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 26
    Inland Barge Rig Inventory Inventory of 41 Rigs between 8 Companies 26
  27. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 27
    Gulf Of Mexico Leases 100% WI / 77% NRI with 19,814 gross/net acres. SARA Lease Other Lease Open Block Louisiana Water depths of 13-77 feet. All prospects defined by high-quality 3D surveys, either updip from log pay,…
  28. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 28
    Gulf Of Mexico Leases Moneypenny Prospect (Ship Shoal Block 78) Cyclam 3 sands tested at rates of 580 BOEPD (79% Oil, 31-38oAPI) in downdip Aminoil SS78 2 Well Cyclam 3A (30 Sand) reserves (1) 1,293,002 MCF + 764 MBO = 979 MBOE (78%…
  29. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 29
    Drilling Schedule Five Year Development Schedule Prioritizing Oil (1) The Company has an extensive drilling inventory including, but not limited to, the following: 2012/13 2014 2015 through 2018 Drilled Planned A120 Updip PUD QQ45…
  30. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 30
    Financial Overview
  31. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 31
    2013 Commodity Mix Production By Commodity (MBOE) Revenues By Commodity (MBOE) 1,200 1,116 90 82.5 979 947 80 76.2 77.1 1,000 946 11.6% 9.6% 864 39.4% 70 13.8% 36.0% 31.0% Net Production, MBoe 800 35.9% Net…
  32. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 32
    Net Debt (WCA)/EBITDAX Net Debt (WCA) (1) , TTM EBITDAX Net Debt (WCA) (1) / TTM EBITDAX ( in millions) Ratio 151 126 129 129 117 4.4 x 4.6 x 4.0 x 47.9 45.7 2.8 x 38.2 2.4 x 28.7 28.2 Net Debt (WCA) TTM EBITDAX Net…
  33. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 33
    Debt Financing Saratoga has issued 27.3 MM of 1st lien notes 10% in exchange for retirement of 27.3 MM of outstanding 12 % senior secured notes and issued an additional 27.3 MM of first lien notes 10% for cash: 10.000% Senior…
  34. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 34
    Why Invest in SARA 50,000 Net Acres Held to All Depths, 60% HBP. 100% WI in Substantially All Wells. Multiple Recompletion/Workover Opportunities. Large Inventory of PUD Wells with Multiple Objectives. EURs = 200-600 MBOE per Well.…
  35. 26TH ANNUAL ROTH CONFERENCE – Saratoga Resources Inc. – slide 35
    Thank You for your Attention 35 Website: www.saratogaresources.com

From the store

Browse maps, data & reports in the Shale Experts store