Skip to main content IPAA OGIS CONFERENCE – Saratoga Resources Inc. Investor Presentation | Shale Experts
Loading...
Pm

IPAA OGIS CONFERENCE – Saratoga Resources Inc.

Saratoga Resources Inc. · Apr 7, 2014 · 27 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. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 1
    Presentation to IPAA OGIS Conference New York City - April 7th, 2014 www.saratogaresources.com
  2. IPAA OGIS 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. IPAA OGIS 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. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 4
    Reserves Profile Total Reserves(1) Proved Reserves(1) 73.7 MMBOE, PV10 = 1,376 MM(2) 17.2 MMBOE, PV10 = 411 MM(2) Proved PDP 424 MM 126 MM Possible 31% PUD 30% 658 MM 47% 227 MM 54% Probable PDNP 307 MM 70 MM 22%…
  5. IPAA OGIS 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. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 6
    2014 Activities Improve Field Run Time, Gas Lift Supply, Water Handling Capacity Reservoir Simulation Planned for 5800 Sand in BS-32 Field and for Selective Sands at Grand Bay Field Drill More Horizontal Wells: Plan additional…
  7. IPAA OGIS 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. IPAA OGIS 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. IPAA OGIS 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. IPAA OGIS 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. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 11
    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…
  12. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 12
    Saratogas Coning Model 12
  13. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 13
    Saratogas Coning Model V-Well H-Well 13
  14. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 14
    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…
  15. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 15
    Rocky Development, BS-32 Current O/W SL 1227 29H Rocky 3 Rocky 1 -5779 Planned Schematic H-Well Planned Rocky 3 H- Well 5800 Sand Structure 15
  16. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 16
    GB Deep Play Cross Section The Goldeneye well will target geopressured Tex L to Cib Carst sands down to 16,500 16
  17. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 17
    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…
  18. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 18
    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,…
  19. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 19
    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%…
  20. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 20
    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…
  21. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 21
    Financial Overview
  22. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 22
    2013 Commodity Mix Production By Commodity (MBOE) Revenues By Commodity (MBOE) 1,200 1,116 90 82.5 979 80 76.2 1,000 946 11.6% 68.7 864 39.4% 70 13.8% 803 7.7% Net Production, MBoe 800 Net Production, MBoe 36.0%…
  23. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 23
    Deferred Production Saratoga Resources, Inc. Net Oil Daily Production Base Wells Estimated Deferred Production 2H 2013: 37,000 bbls 52% drop in gas production Net Daily Production 1H 2013 OIL DECLINE TREND 2H 2013 OIL…
  24. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 24
    Cash Cost All-in Cash Cost (In Millions) 70.0 61.1 58.5 60.0 56.1 7.3 5.7 52.2 49.5 7.8 50.0 5.5 6.1 8.3 5.2 7.4 5.9 8.6 40.0 Cash Cost (MM) 21.4 27.5 17.6 30.0 17.7 22.5 20.0 23.3 24.2 10.0 19.9 19.8…
  25. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 25
    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, each with no…
  26. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 26
    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.…
  27. IPAA OGIS CONFERENCE – Saratoga Resources Inc. – slide 27
    Thank You for your Attention 27 Website: www.saratogaresources.com

From the store

Browse maps, data & reports in the Shale Experts store