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JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy

Raam Global Energy · Jun 22, 2015 · 44 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. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 1
    RAAM GLOBAL ENERGY COMPANY Shareholder Presentation June 22, 2015
  2. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 2
    Confidential Proved Oil and Gas Reserves (MBOE) 30,000 25,044 25,000 23,459 Loss of Reserves BOE (thousands) Flipper 20,204 18,778 Reservoir 20,000 18,270 Flatts Guitar Write-off Q3 2013 15,000 11,930 11,939…
  3. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 3
    Confidential Oil and Gas Production BOEPD 14,000 12,000 11,251 11,432 10,927 Loss of 10,305 Reserves Flipper Reservoir 10,000 9,256 9,021 9,210 7,660 BOEPD 8,000 6,568 5,265 6,000 4,000 2,000 0…
  4. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 4
    Confidential Oil and Gas Revenues (Millions) 350 311.0 300 250 Millions 205.6 214.4 203.8 200 179.9 173.6 149.5 143.1 150 116.8 86.4 100 50 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 6
  5. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 5
    Confidential Summary of 2013 Major Events As discussed in last years shareholder meeting and included in the Minutes: Loss of Flatts Guitar Reserves In the 3rd quarter 2013, the Company determined that it would be unable to meet…
  6. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 6
    Confidential Summary of 2014 Major Events The reduction in production and revenues created a series of cascading events. On March 31, 2014, the Company was not in compliance with its Interest Debt Coverage Ratio. Even though…
  7. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 7
    Confidential Results of the 2014 Capital Spending Program The Company participated in the drilling of ten wells. Two deep, offshore Gulf of Mexico wells drilled under a farmout program were dry holes. A third offshore Gulf of…
  8. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 8
    Confidential 2014 / 2015 Drilling Activity Gulf of Mexico 1. Drilled Six Wells a) Pegasus successful and producing b) Palmetto successful and producing c) Ship Shoal 150 successful with first production expected in July 2015 d)…
  9. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 9
    Confidential In 2014, The Company focused on the development of future opportunities based on the successful East Cox Bay and Breton Sound Track Record 11
  10. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 10
    Confidential Successful Breton Sound Track Record Breton Sound Field and East Cox Bay Field - Production Data and Historical Success Through December 31, 2014 Reservoir Cumulative Cumulative Cumulative Cumulative Number Number…
  11. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 11
    Confidential Factors contributing to historical success a. Competitive Seismic Advantage b. Multiple Successful Analogs c. Infrastructure In Place 13
  12. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 12
    Confidential Competitive Seismic Advantage Reprocessed Seismic Advantage Uvig Example Original Vendor Off the Shelf Data No clear indication of prospect potential 15
  13. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 13
    Confidential Competitive Seismic Advantage Reprocessed Seismic Advantage Uvig Example Centurys Proprietary Seismic Reprocessing East Cox Bay Field Uvig Producer Uvig Location Uvig Location 16
  14. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 14
    Confidential Uvig Gather Example 17
  15. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 15
    Confidential Cox Bay and Breton Sound Discoveries 19
  16. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 16
    Confidential Breton Sound 51 Central Facility April 2015 processed volume was approximately 1,100 Bopd and 19 MMcfpd Current excess capacity is 9,100 Bopd and 101 MMcfpd 21
  17. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 17
    Confidential East Cox Bay Field Central Facility April 2015 production rate was 389 Bopd and 756 Mcfpd Facility capacity is 2,000 Bopd and 8 MMcfpd 22
  18. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 18
    Confidential Most Recent Activity 1. Pegasus - Successful Well 2. Virgo Deep - Successful Well 3. Palmetto A - Successful Well 4. Proprietary 3-D Seismic (New Breton Sound prospects) 23
  19. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 19
    Confidential Pegasus Seismic Tie from Synthetic Pegasus H4 H4 H4 H4 H6 H6 H6 H6 Bas e 17,325 Base 18,000 25
  20. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 20
    Confidential Pegasus Costs Drilling Completion Hookup Approved AFE (D&E) 20,930,587 8,510,390 3,131,450 Final morning report cost 14,700,000 Cost under/(over) 6,230,587 Days vs Depth vs Cost AFE Drilling Cost = 20.9 MM…
  21. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 21
    Confidential Pegasus Status Current interpretation has identified two oil and gas bearing reservoirs. Well began producing on June 15, 2015 with an initial test of 7.5 million cubic feet of gas per day and 600 barrels of oil…
  22. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 22
    Confidential Virgo Deep Seismic Line Century Virgo Deep SL12861 2 Potential ERT GOM, LLC Century Tenneco Development Well SL 17860 2 SL12806 1ST2 SL12806 1/1D A (S) A (N) Virgo Uv3b1 produced 21.1 Bcf + 842 Mbo Virgo Mid…
  23. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 23
    Confidential Virgo Deep Successful Uvig Well Drilled from July - August 2014 and first production occurred in September 2014 Century retained 25% working interest with no drilling or evaluation capital exposure Century share of…
  24. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 24
    Confidential Palmetto A East Cox Bay Field Discovery Axxis Justice Palmetto A Palmetto Area 32
  25. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 25
    Confidential Palmetto A Century Exploration Century SL(Palmetto SL 21380 1 21380 1A Discovery) Log Drilling Completion 100% WI Approved AFE (DHC) 10,484,930 4,160,000 Final morning report cost 7,750,000 3,359,285 Cost…
  26. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 26
    Confidential Proprietary Breton South 3-D Seismic Survey 35.65 Sq. Mi. Breton South 3D Acquired in 4th Quarter 2014 Breton Sound 3D 2.2 MM Acquisition Cost Two Prospects generated from new survey (Carina and Corvus South)…
  27. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 27
    Confidential Future Drilling Opportunities Nine Prospects in the Area of Greatest Historical Success 36
  28. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 28
    Confidential Drilling Prospects 1. East Cox Bay Field 2. Breton Sound Field 37
  29. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 29
    Confidential Drill-Ready Prospect Inventory East Cox Bay Field 1. Palmetto B 2. Palmetto C 3. Palmetto D 4. Palmetto E 5. Palmetto F 6. Clio Breton Sound Field 1. Carina 2. Corvus South 3. Crux 38
  30. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 30
    Confidential Locator Map East Cox Bay Field new field discovery from the successful Palmetto A well Six additional drilling prospects (Palmetto B F and Clio) 39
  31. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 31
    Confidential Palmetto Remaining Drilling Opportunities Location B Location C Location D Location E Location F Objective: Miocene Uvig 3 Miocene Uvig 3 Miocene Uvig 3 Miocene Uvig 3 Miocene Uvig 3 13,200 MD / 16,112 MD / 13,103 MD…
  32. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 32
    Confidential Carina Prospect Summary Field: Main Pass 45 Field Carina Type Log Lease: To be determined Century SL 17860 2 Objective: Miocene Uvigerina 3b1 Well Depth MD / TVD: 12,500 MD / 12,500 TVD WI / NRI: 100% / 78% BPO…
  33. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 33
    Confidential Corvus South Prospect Summary Field: Breton Sound 53 Field MP 45 SL 18550 Lease: BS 51 / SL 20834 Century 1 Objective: Miocene Uvig Corvus Prospect Well Well Depth MD / TVD: 15,000 MD / 14,340 TVD Uv3a1 WI / NRI:…
  34. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 34
    Confidential Crux Prospect Summary Field: BS 53 Crux Type Log Lease: Sl 19050 Century SL 19391 1 Objective: BH2 BH7 Well Depth MD / TVD: 15,000 MD / 15,000 TVD WI / NRI: 85% / 65.66% BPO and 63.11% APO Forecast D&E / DH P&A:…
  35. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 35
    Confidential Financial Information (selected Financial Data) For the Years ending December 31, 2011, 2012, 2013 & 2014 2011 2012 2013 * 2014 Average Daily Production 10,927 11,399 9,210 7,660 (BOEPD) Year End Proved Reserves 23.5…
  36. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 36
    Confidential Financial Information (adjusted EBITDA) For the Years ending December 31, 2011, 2012, 2013 & 2014 2011 2012 2013 2014 Net Income (Loss) (Millions) 24 (4) (241) (86) Total (gains) losses on derivatives, net, less cash…
  37. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 37
    Confidential Financial Information (Production and Prices) For the Years ending December 31, 2011, 2012, 2013 & 2014 2011 2012 2013 2014 Net Production Volumes Oil (Bbl) 1,050,092 1,103,653 884,944 714,453 Natural Gas (Boe)…
  38. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 38
    Confidential Financial Information (costs and expenses per Boe) For the Years ending December 31, 2011, 2012, 2013 & 2014 2011 2012 2013 2014 Cost & Expenses per BOE Lease Operating Expenses 8.61 8.52 10.41 9.78 Workover…
  39. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 39
    Confidential Proved Reserves as of March 31, 2015 internal report based on YE 2014 NSAI updated for production and performance Proved Reserves Net Oil Net Gas MCFE BOE Future Present Net Value () BO MCF Revenue () 10% Century…
  40. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 40
    Confidential Crude Oil 52
  41. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 41
    Confidential Natural Gas 53
  42. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 42
    Confidential Summary of events leading to current situation One of the most significant events in this difficult last two years is the historical shift in OPEC policy, which has resulted in a dramatic decline in commodity prices…
  43. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 43
    Confidential Pro-Forma Capitalization Table Pro-Forma Capitalization CAPITAL STRUCTURE (AS OF 3/31/2015) Pro Forma Amount Pro Forma Amount Cumul. Debt Outstanding Cumul. Debt Pro Forma Outstanding / LTM Interest Price (Post /…
  44. JUNE 2015 CORPORATE PRESENTATION – Raam Global Energy – slide 44
    RAAM GLOBAL ENERGY COMPANY Shareholder Presentation June 22, 2015

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