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CORPORATE PRESENTATION – Kelt Exploration Ltd.

Kelt Exploration Ltd. · Jul 1, 2014 · 29 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. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 1
    Corporate Presentation July 2014 0 David J. Wilson, President & Chief Executive Officer Sadiq H. Lalani, Vice President, Finance & Chief Financial Officer
  2. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 2
    Why Invest in Kelt 2 For investors who want to be exposed to a growth oriented oil and gas exploration and development business plan - TRACK RECORD: the Kelt management team has a strong track record of building shareholder value,…
  3. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 3
    Common Share Information 3 Stock Exchange listing TSX Trading symbol KEL Market capitalization ( Jul/3/14 ) 1.9 billion 52-week trading range 7.17 - 15.61 Common shares issued 126.8 million Restricted share units (RSUs) 1.7…
  4. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 4
    Capital Expenditure Program 4 ( millions ) 2013 Actual 2014 Forecast Change Drilling & Completions 84.2 209.0 + 148% Facilities, Equipment & 19.5 35.5 + 82% Pipeline Land & Seismic 16.0 31.0 + 94% Acquisitions 209.4 172.5 - 18%…
  5. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 5
    2014 Drilling Program 5 Gross Net D&C % Wells Wells ( MM ) Pouce Coupe / Spirit 16 15.2 101.0 48% River / Valhalla Karr 7 6.8 46.0 22% Inga/Fireweed 9 3.7 36.0 17% Other 5 4.1 26.0 13% Total 37 29.8 209.0 100% Note: Pouce Coupe /…
  6. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 6
    Production Outlook 6 2013 2014 Production Actual Split Forecast Split Percent (average) (average) Change Oil ( bbls/d ) 516 13% 3,285 27% + 537% NGLs ( bbls/d ) 297 7% 850 7% + 186% Gas ( mcf/d ) 18,888 80% 48,090 66% +155%…
  7. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 7
    Production Growth 7 ( BOE / d ) 18,000 Oil / NGLs 16,000 Gas 15,300 + 326% 14,000 12,150 12,000 9,800 10,143 10,000 9,695 8,000 8,015 5,739 7,000 7,061 6,000 4,636 4,097 4,000 3,588 4,443 3,316 3,714 5,605 2,000…
  8. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 8
    Improving Profitability by Lowering Costs 8 - DRILLING: Kelts development properties are primarily resource in nature whereby in-fill drilling is conducted from multi-well pads resulting in economies of scale thereby reducing drilling…
  9. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 9
    Protecting Profits through Hedging 9 ( CA unless otherwise specified ) Period Quantity Fixed Price Jun/1/14 to 1,500 CA 101.51 WTI Crude Oil Dec/31/14 bbls/d per bbl Jun/1/14 to 150 US 48.09 OPIS Conway Propane Dec/31/14 bbls/d…
  10. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 10
    Commodity Prices 10 ( CA , unless otherwise specified ) 2013 2014 (E) Change WTI Oil ( USD/bbl ) US 97.98 US 92.00 - 6% NYMEX Gas ( USD/mmbtu ) US 3.67 US 4.60 + 25% AECO 5A Gas ( CAD/GJ ) 3.01 4.55 + 51% Exchange Rate ( CAD/USD ) 1.030…
  11. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 11
    Netbacks 11 ( / BOE ) 2013 2014 (E) Change Oil & gas revenue 32.27 48.21 + 49% Realized hedging gain (loss) ( 0.24 ) 0.08 - Royalties ( % of revenue ) ( 13.5% ) ( 14.4% ) + 7% Production & transportation ( 10.69 ) ( 13.82 ) + 29%…
  12. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 12
    Financial Outlook 12 2013 2014 (E) Change Oil & gas revenue, before royalties ( MM ) 46.3 214.1 + 362% Funds from operations ( MM ) 23.7 116.0 + 389% Per share diluted ( /share ) 0.32 0.94 + 194% Debt, net of working capital, at…
  13. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 13
    Exit 2014 Forecast 13 Estimates Exit 2014 Production ( 63% Gas & 37% Oil/NGLs ) 15,300 BOE / d WTI Oil price US 95.00 / bbl Exchange rate 1.0989 / USD AECO Gas price 4.50 / GJ Annualized Funds from operations 161.5 MM Per share…
  14. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 14
    Core Areas 14 Inga / Fireweed: Montney/Doig condensate rich gas exploration/development Inga / Fireweed Pouce Coupe / Spirit River / Valhalla: Pouce Coupe / Montney/Doig gas development Spirit River / Valhalla Montney light oil…
  15. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 15
    Land Holdings As at March 6, 2014 15 Gross Acres Net Acres Average WI Net Sections Developed 258,910 113,516 44% 177.4 Undeveloped 336,657 216,725 64% 338.6 Total 595,567 330,241 55% 516.0 [1] Note: Net undeveloped land holdings has…
  16. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 16
    Reserves As at December 31, 2013 16 Oil NGLs Gas Combined FDC Costs ( mbbls ) ( mbbls ) ( mmcf ) ( MBOE ) ( M ) Proved Developed Producing 4,500 1,082 75,873 18,228 - Proved Developed Non- 180 28 966 369 1,327 producing Proved…
  17. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 17
    Finding, Development & Acquisition (FD&A) As at December 31, 2013 17 Proved + Proved Probable 2013 capital expenditures, including value of assets conveyed from Celtic & FDC required to develop reserves ( M ) 690,704 802,404…
  18. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 18
    Inga / Fireweed ( British Columbia ) Fireweed 16 MMcf/d 18 Compressor/ Facility (50% WI) Land 119,179 acres ( gross ) 49,599 acres ( net ) Operations Kelt expects to exit 2014 Inga 28 MMcf/d Compressor/ with production of…
  19. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 19
    Extensive Alberta Land Base Gordondale Progress Spirit River Pouce 19 Coupe Valhalla/La Glace Valhalla Acquisition Operations Kelt has set up its main field operating Grande Prairie base in the city of Grande Prairie,…
  20. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 20
    Grande Cache / Chicken Narraway 20 135 MMcf/d Gas Plant (7% WI) Land 143,680 acres ( gross ) 97,167 acres ( net ) Operations Kelt expects to exit 2014 with production of approximately 2,400 BOE/d in the Grande Cache / Chicken…
  21. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 21
    Karr 21 Land 13-26 HZ 16-10 HZ (75%) 29,760 acres ( gross ) 2014 Loc 2014 Loc Drilled 27,994 acres ( net ) Operations 16-8 HZ Tested Kelt expects to exit 2014 with (75%) 15-28 HZ production of approximately Producing 13-35…
  22. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 22
    Pouce Coupe 22 Land 55,770 acres ( gross ) 30,182 acres ( net ) Pouce Coupe South Boundary Progress Halfway O Pool Unit Operations 8-18 HZ 15-3 HZ 2014 Loc 13-8 HZ B Unit 2 67.9% WI Operated 7.8% WI Kelt expects to exit…
  23. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 23
    Spirit River 23 Land 50,200 acres ( gross ) 13-27 HZ 13-24 HZ 2014 Loc 32,554 acres ( net ) Completing 2014 Loc Operations Kelt expects to exit 2014 with production of approximately 6,000 BOE/d in the Pouce Progress Halfway…
  24. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 24
    Spirit River Charlie Lake 24 Gamma Ray Density Porosity 45 30 15 0 -15 Worsley ( O ) Y J ( Upper ) J ( Lower ) R F D M E 45 30 15 0 -15
  25. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 25
    Valhalla / La Glace Acquisition 25 - PRODUCTION: 2,300 BOE/d (70% oil and 30% gas). - ANNUAL OPERATING INCOME: 33.6 million (at WTI oil US95.00/bbl and AECO gas 4.50/GJ). - 2P RESERVES: 11.7 million BOE (includes 60.7 million FDC). -…
  26. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 26
    Future Considerations 26 - DRILLING INVENTORY: Kelt estimates that it has numerous years of drilling inventory on its existing lands to continue to grow the company. - STRONG BALANCE SHEET: Kelt maintains financial flexibility so…
  27. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 27
    Management 27 David J. Wilson, President & CEO Sadiq H. Lalani, Vice President, Finance & CFO Douglas J. Errico, Vice President, Land Alan G. Franks, Vice President, Production Douglas O. MacArthur, Vice President, Operations Patrick…
  28. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 28
    Board of Directors 28 Robert J. Dales Compensation (Chair), Nominating, Audit, Reserves William C. Guinan Chairman, Nominating (Chair), HSE Eldon A. McIntyre Reserves (Chair), Nominating, Audit, Compensation Neil G. Sinclair Audit…
  29. CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 29
    Corporate Presentation July 201431 Suite 300, 311 6th Avenue SW Calgary, Alberta, Canada T2P 3H2

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