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Capital Markets Day – Oryx Petroleum Corp

Oryx Petroleum Corp · Nov 11, 2014 · 53 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. Capital Markets Day – Oryx Petroleum Corp – slide 1
    ORYX PETROLEUM: AN UPSTREAM LEADER IN AFRICA & THE MIDDLE EAST Capital Markets Day, Toronto, November 11th 2014
  2. Capital Markets Day – Oryx Petroleum Corp – slide 2
    AGENDA 10:00 10:15 Introduction & 2014 Highlights Michael Ebsary CEO 10:15 11:30 Kurdistan Operational Review Henry Legarre COO 11:30 11:40 Coffee Break West Africa Exploration and Reserves 11:40 12:05 Henry Legarre COO &…
  3. Capital Markets Day – Oryx Petroleum Corp – slide 3
    AN AFRICA AND MIDDLE EAST FOCUSED INDEPENDENT E&P COMPANY Founded in 2010 by The Addax & Oryx Group (AOG) Seven License Areas Previously established, developed and sold Addax Petroleum Two discoveries of oil reserves made in 2013…
  4. Capital Markets Day – Oryx Petroleum Corp – slide 4
    2014 HIGHLIGHTS 2013 Reserve Report Development at Demir Dagh largely on track Declaration of Commercial Discovery at Demir Dagh BAN-1 Discovery First production achieved before end of Q2 Q1 Successful test of E-1 Discovery in HMA…
  5. Capital Markets Day – Oryx Petroleum Corp – slide 5
    2014 OBJECTIVES AND RESULTS Objectives Results Demir Dagh Appraisal & Drill 8 Appraisal / Development wells 6 wells drilled, 7th and 8th spudded Development Achieve first production in Q2 2014 First production and sales achieved in…
  6. Capital Markets Day – Oryx Petroleum Corp – slide 6
    2015 OUTLOOK Production ramp-up and Resource conversion at Demir Dagh key focus Installation of EPF and increase in wellhead production capacity Q4 2015 target exit rate of 35,000 - 45,000 bbl/d (gross) Determine timing of PPF…
  7. Capital Markets Day – Oryx Petroleum Corp – slide 7
    KURDISTAN: OPERATIONAL OVERVIEW Private and Confidential 7
  8. Capital Markets Day – Oryx Petroleum Corp – slide 8
    KURDISTAN REGION OF IRAQ: SECURITY UPDATE ISIS summer 2014 offensive in Northern Iraq Territorial gains including Mosul and villages to east of Mosul In recent months ISIS gains have been partially reversed and attack…
  9. Capital Markets Day – Oryx Petroleum Corp – slide 9
    HAWLER LICENSE: SECURITY UPDATE Almost all activities suspended in early August Today all sites on Hawler license secure and security threat is reduced Full resumption of development activities at Demir Dagh in late August…
  10. Capital Markets Day – Oryx Petroleum Corp – slide 10
    KURDISTAN REGION OF IRAQ: EXPORT UPDATE ITP KRI - Turkey Taq Taq - Khurmala Ongoing disagreement between KRG and 40 & 46 pipelines 600 & 900 Mbbl/d capacity 24/36 oil pipeline 300 Mbbl/d initial capacity 20 oil pipeline 150-200…
  11. Capital Markets Day – Oryx Petroleum Corp – slide 11
    HAWLER LICENSE (KURDISTAN REGION OF IRAQ) Gross (100%) (MMbbls) (1) Unrisked Contingent Oil Prospective Oil Oil Reserves Resources Resources Discovery: Feb 2013 Discovery: Oct 2013 Field 1P 2P 3P 1C 2C 3C Low Best High Demir…
  12. Capital Markets Day – Oryx Petroleum Corp – slide 12
    DEMIR DAGH: NSAI VOLUME ESTIMATES Gross (100%) (MMbbls) (1) Unrisked Contingent Oil Prospective Oil Oil Reserves Resources Resources Reservoir 1P 2P 3P 1C 2C 3C Low Best High Cretaceous 87 236 958 105 228 633 Jurassic 22…
  13. Capital Markets Day – Oryx Petroleum Corp – slide 13
    DEMIR DAGH APPRAISAL AND DEVELOPMENT Seven wells drilled including Demir Dagh-2 discovery well Two deep wells to evaluate all reservoirs 2 Planned Wells 2 Planned Wells (Demir Dagh-2 & 3) BAN-2 DD-5 DD-2 DD-10 Five shallow wells…
  14. Capital Markets Day – Oryx Petroleum Corp – slide 14
    DEMIR DAGH: WELLHEAD PRODUCTION CAPACITY Maximum Sustained flow rates (bbl/d) Demir Dagh-2 and Demir Dagh-4 Well Cretaceous Jurassic currently tied-in to facilities DD-2 6,700(1) 2,800(1) DD-3 and DD-7 wells capable of DD-3…
  15. Capital Markets Day – Oryx Petroleum Corp – slide 15
    DEMIR DAGH: DD-7 AND DD-8 APPRAISAL WELLS Both wells drilled in a near crestal position at Shiranish level A B DD-7 and DD-8 were drilled as mirror wells (same inclination but azimuth 180 apart) DD-8 DD-7 DD-7 crossed the Demir…
  16. Capital Markets Day – Oryx Petroleum Corp – slide 16
    DEMIR DAGH: DD-7 TEST RESULTS Completion test of 65 metre interval in Shiranish and Kometan through pre-drilled liner Achieved maximum sustained flow rate of 3,300 bbl/d for 6 hours Constrained by 48/64 choke Natural flow…
  17. Capital Markets Day – Oryx Petroleum Corp – slide 17
    DEMIR DAGH: DD-8 TEST RESULTS DST conducted in Shiranish and Kometan Gas arrived suddenly a few hours after 1st acid stimulation Mechanical failure likely reason for result - Inadequate isolation of testing interval Planning DD-8…
  18. Capital Markets Day – Oryx Petroleum Corp – slide 18
    DEMIR DAGH: FUTURE DRILLING PLANS DD-9 and DD-10 recently spudded DD-9 drilled from same drill pad as DD-3 DD-9 primary objectives productive capacity 2 Planned Wells 2 Planned Wells and to obtain additional reservoir information…
  19. Capital Markets Day – Oryx Petroleum Corp – slide 19
    HAWLER: 3D SEISMIC ACQUISITION Recently completed acquisition 3D Seismic 223 km2 3D seismic data Demir Dagh and Banan east of Zab River 3C Seismic 3C data acquired over Demir Dagh (first 3C data acquired in Kurdistan Region)…
  20. Capital Markets Day – Oryx Petroleum Corp – slide 20
    HAWLER LICENSE DEVELOPMENT PLAN Oil Gas Demir Dagh to be centre of development BANAN AAS EPF WEST Zey Gawra and Banan to be Degassed Crude developed with Demir BANAN Degasser DEMIR Dagh Oil (x2 Pipelines) DAGH Gas (x2…
  21. Capital Markets Day – Oryx Petroleum Corp – slide 21
    DEMIR DAGH PROCESSING CAPACITY: OVERVIEW Nameplate Capacity Actual Expected Current nameplate processing capacity of 20,000 Phase bbl/d gross (100%) (bbl/d) Commission Date 1a 5,000 June 2014 Commissioning of 40,000 bbl/d Early…
  22. Capital Markets Day – Oryx Petroleum Corp – slide 22
    DEMIR DAGH PROCESSING CAPACITY: CURRENT PROCESSING FACILITIES TPF at DD-2 Pad - Total nameplate capacity 20,000 bbl/d Train 1, Trailer Mounted Separator Train 2, Skid Mounted Separator Truck Loading Facility Complete Oilserve TPF…
  23. Capital Markets Day – Oryx Petroleum Corp – slide 23
    DEMIR DAGH PROCESSING CAPACITY: WORK PROGRESS ON EARLY PRODUCTION FACILITY Demir Dagh EPF nameplate capacity: 40,000 bbl/d Train 1 separators and heaters Pipe rack with Instrument Tray Progress to date Civil works complete 55% of…
  24. Capital Markets Day – Oryx Petroleum Corp – slide 24
    DEMIR DAGH PROCESSING CAPACITY: PERMANENT PRODUCTION FACILITY PPF to accommodate variations in crude characteristics with phased gas system installation Phase 1 designed for Cretaceous and Butmah GOR and H2S content and EPF gas Phase…
  25. Capital Markets Day – Oryx Petroleum Corp – slide 25
    DEMIR DAGH PROCESSING CAPACITY: PERMANENT PRODUCTION FACILITY Initial FEED design complete Early civil works underway Next steps Finalisation of design Tender process (1H 2015) Award contracts / proceed with construction (2H…
  26. Capital Markets Day – Oryx Petroleum Corp – slide 26
    ZEY GAWRA: OVERVIEW Gross (100%) (MMbbls)(1) Contingent Resources 84 Unrisked 81m column 4,800 bbl/d of Contingent Oil Prospective Oil Prospective 35 API Crude Oil Reserves Resources Resources Resources 1P 2P 3P 1C 2C 3C Low…
  27. Capital Markets Day – Oryx Petroleum Corp – slide 27
    ZEY GAWRA: APPRAISAL & DEVELOPMENT PLANS Top Qamchuqa depth structure Appraisal and development planned for 2H 2015 Re-completion of ZEG-1 as a producing well ZEG-2 appraisal well Zab-1 ZEG-2 to evaluate Cretaceous and…
  28. Capital Markets Day – Oryx Petroleum Corp – slide 28
    BANAN: OVERVIEW NW Distance (m) BAN-2 BAN-1 SE Gross (100%) (MMbbls)(1) Unrisked Contingent Oil Prospective Oil Oil Reserves Resources Resources PR 1P 2P 3P 1C 2C 3C Low Best High Tertiary - - - - - - 97 171 273 Former…
  29. Capital Markets Day – Oryx Petroleum Corp – slide 29
    BANAN: PLANNED APPRAISAL ACTIVITIES Banan-2 Core Sample Resumption of BAN-2 appraisal well Crestal target spudded in early June 2014 Activities currently suspended at 2,700 metres due to security environment Rig remains on site…
  30. Capital Markets Day – Oryx Petroleum Corp – slide 30
    AIN AL SAFRA Depth TVDSS (m) North Gross (100%) (MMbbls)(1) South AAS-1&2 Contingent 84 Unrisked Upr Fars Resources Contingent Oil Prospective Oil Oil Reserves 0 Prospective Resources Resources Resources 1P 2P 3P 1C 2C 3C…
  31. Capital Markets Day – Oryx Petroleum Corp – slide 31
    HAWLER 2015 WORK PLAN Q4 2014 1H 2015 2H 2015 Demir Dagh DD-9 Drilling DD-10 3 wells (DD-11 to 13) 4 wells (DD-14 to 17) DD-8 Sidetrack Complete construction of EPF Facilities - EPF Tie-in wells Tie-in wells Tie-in wells…
  32. Capital Markets Day – Oryx Petroleum Corp – slide 32
    HAWLER LICENSE OUTLOOK First Phase Demir Dagh Development Ramp-up of Production (gross(100%) exit rates) - Q4 2014: 15,000 bbl/d - Q2 2015: 25,000 - 30,000 bbl/d - Q4 2015: 35,000 - 45,000 bbl/d Second Phase Demir Dagh…
  33. Capital Markets Day – Oryx Petroleum Corp – slide 33
    WEST AFRICA EXPLORATION Private and Confidential 33
  34. Capital Markets Day – Oryx Petroleum Corp – slide 34
    AGC SHALLOW & CENTRAL (SENEGAL / GUINEA BISSAU) AGC Shallow Working petroleum system with two shallow heavy oil discoveries in the 1960s Wells Planned Two deeper light oil play types Seismic amplitude prospects in Maastrichtian…
  35. Capital Markets Day – Oryx Petroleum Corp – slide 35
    AGC SHALLOW: EXPLORATION PROSPECTS 790m S N Iris-1 Iris-1S Current plans to drill well targeting Dome Iris in 2H 2015 Shallow well to evaluate Maastrichtian Maastrichtian deemed lower risk than Albian Depth [m] Considering…
  36. Capital Markets Day – Oryx Petroleum Corp – slide 36
    AGC SHALLOW: OPERATIONAL PROGRESS Office set-up in AGC building in Dakar Equipment yard secured Mobilisation of long lead items has commenced Casing, drill bits, wellheads, etc. Potential jack-up rigs identified Contractual…
  37. Capital Markets Day – Oryx Petroleum Corp – slide 37
    AGC CENTRAL: NEW EXPLORATION BLOCK New geological play type Carbonate edge Analogous to some plays being pursued offshore Senegal Based on available 2D and 3D, occurrence of potential structures and unconformities have been…
  38. Capital Markets Day – Oryx Petroleum Corp – slide 38
    HAUTE MER A & HAUTE MER B (CONGO (BRAZZAVILLE)) Est Spud: 2H 2015 Wells Planned Discovery Est Spud: 1H 2015 Tested: Feb 2014 Haute Mer A Haute Mer B Elephant Discovery in 2013 PSC approved in Q2 2014 Successful…
  39. Capital Markets Day – Oryx Petroleum Corp – slide 39
    HAUTE MER A: EXPLORATION PROSPECTS Two wells drilled in 2013 Est Spud: 1H 2015 Horse-1 (H-1): No charge but good reservoir 1000-1500m Wells development Elephant-1 (E-1): Oil & gas discovery Planned Discovery Proposed - N5:…
  40. Capital Markets Day – Oryx Petroleum Corp – slide 40
    HAUTE MER B: EXPLORATION PROSPECTS Proximity to existing producing fields and discoveries Prospect analogues Shared infrastructure Est Spud: 2015 Partners finalising target selection Loubossi pre-salt: 189 MMbbls best estimate…
  41. Capital Markets Day – Oryx Petroleum Corp – slide 41
    WEST AFRICA 2015 WORK PROGRAM AND OUTLOOK 1H 2015 2H 2015 AGC Shallow exploration well Exploration & Drilling HMA exploration well HMB exploration well Three exploration wells with most activity in 2H 2015 AGC Shallow and…
  42. Capital Markets Day – Oryx Petroleum Corp – slide 42
    RESERVES & RESOURCES SUMMARY Private and Confidential 42
  43. Capital Markets Day – Oryx Petroleum Corp – slide 43
    NSAI VOLUME ESTIMATES (31/12/2013) 2014 activity likely to impact Reserves and Gross (Working Interest) Resources bookings (MMbbls) Unrisked Demir Dagh 8 appraisal wells (DD-3 thru DD-10) Contingent Prospective 3D seismic…
  44. Capital Markets Day – Oryx Petroleum Corp – slide 44
    CONVERTING RESOURCE BASE TO RESERVES Exploration Discoveries / Appraisal 2C Contingent Resources 2P Reserves / Development Prospective Resources 2016+ AGC 2H 2015 HMB 2H 2015 HMA 1H 2015 Banan Triassic Elephant Ain…
  45. Capital Markets Day – Oryx Petroleum Corp – slide 45
    FINANCIAL REVIEW Private and Confidential 45
  46. Capital Markets Day – Oryx Petroleum Corp – slide 46
    KURDISTAN SALES DYNAMICS ITP 40 & 46 pipelines KRI - Turkey 24/36 oil pipeline Taq Taq - Khurmala 20 oil pipeline Domestic Sales: 600 & 900 Mbbl/d capacity 300 Mbbl/d initial capacity 150-200 Mbbl/d capacity Well established…
  47. Capital Markets Day – Oryx Petroleum Corp – slide 47
    HAWLER NEAR TERM NETBACKS Realised Prices: Illustrative Netback (/bbl) Domestic: currently 60/ bbl Contractor Netback Export: Expect to be referenced to Brent Realised Price 50.00 75.00 100.00 Royalties 10% (5.00) (7.50) (10.00)…
  48. Capital Markets Day – Oryx Petroleum Corp – slide 48
    HAWLER: RETURN SENSITIVITIES TO CRUDE OIL PRICES Indicative Hawler 2P IRRs Assumptions 80% NSAI 2P Reserves from End of Year 2013: Includes Demir Dagh and Zey Gawra Development only 70% 328 MMbbl Production Operating Costs…
  49. Capital Markets Day – Oryx Petroleum Corp – slide 49
    FULL YEAR 2015 CAPITAL EXPENDITURE BUDGET 1% By Region 2015 Capital Expenditure Budget (mm) Seismic & 12% Kurdistan Region Location License Drilling Facilities Studies Other Total Iraq 13% Senegal Kurdistan Region Hawler 144…
  50. Capital Markets Day – Oryx Petroleum Corp – slide 50
    2014 - 2015 BUDGETED CAPITAL EXPENDITURE & FUNDING 1H 2015 focus (35%) 2H 2015 focus (65%) Budget Assumptions Demir Dagh EPF and Demir Dagh PPF and 190 mm cash on hand at September 30, 2014 development wells development wells 100 mm…
  51. Capital Markets Day – Oryx Petroleum Corp – slide 51
    SUMMARY Q&A Private and Confidential 51
  52. Capital Markets Day – Oryx Petroleum Corp – slide 52
    A COMPELLING STORY RICH IN VALUE CATALYSTS Production Ramp-up and Resource Conversion at Demir Dagh Expansion of production facilities Appraisal and development drilling to provide production growth and conversion of 2C Resources…
  53. Capital Markets Day – Oryx Petroleum Corp – slide 53
    craig.kellyoryxpetroleum.com scott.lewisoryxpetroleum.com infooryxpetroleum.com

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