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July 2015 INVESTOR UPDATE – Long Run Exploration Ltd.

Long Run Exploration Ltd. · Jul 29, 2015 · 20 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. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 1
    INVESTOR UPDATE JULY 29, 2015 1
  2. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 2
    LONG RUN PROFILE British Columbia Listing TSX:LRE NORTHERN GAS Shares Outstanding 193.5 million Alberta Market Capitalization 125 million Liquidity 1,000,000 PEACE (shares/day; 30 day avg) RIVER AREA Q2 2015 Production…
  3. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 3
    CORPORATE STRATEGY Provide long-term value to shareholders Improve capital structure through strategic and financial means Focus on disciplined capital management, portfolio rationalization and cost saving measures Actively…
  4. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 4
    2014 YEAR END RESERVES HIGHLIGHTS December 31, 2014 Reserves Volumes Long Run P+P Reserves: 170,645 MBoe PDP Probable 32% 39% Long Run P+P Reserves NPV (BT10%): PDNP & 1.64 billion PUD 28% Increased proved plus…
  5. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 5
    PRODUCTION PROFILE Completed Deep Completed Crocotta Basin property 40,000 acquisition Energy Inc. acquisition (August 2014) (May 2014) 35,000 30,000 Production (Boe/d) 25,000 20,000 15,000 10,000 5,000 0 Q1…
  6. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 6
    CAPITAL STRUCTURE Share Capital: Debt Structure 193.5 million common shares outstanding (at June 30, 2015) Credit Facilities(1): Long Runs lending facilities total 695 million Credit Credit facilities consist of a 410 million…
  7. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 7
    2015 CAPITAL BUDGET 60 Capital budget of 100 million 45 million planned for the second half of 45 the year Based on average commodity price Million assumptions of WTI US52.50/Bbl, AECO 30 2.60/GJ and FX CDN/USD 0.80 for…
  8. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 8
    RISK MANAGEMENT 2015 Oil Hedges 2015 Natural Gas Hedges 100% 100 100% 3.60 80% 80% 75 3.40 CDN/GJ 60% 60% US/Bbl 50 40% 40% 3.20 25 20% 20% 0% 0 0% 3.00 Q1 Q2 Q3* Q4* Q1 Q2 Q3 Q4 % of Production Hedged Average…
  9. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 9
    SECOND QUARTER 2015 HIGHLIGHTS 45.9 million (0.24/share) in funds flow from operations 34,457 Boe/d average production (41% oil and NGLs) 8.8 million in capital expenditures Total capital expenditures of 54.1 million over the…
  10. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 10
    PEACE RIVER MONTNEY Normandville / Girouxville Current production of 8,800 Boe/d Normandville (55% oil and NGLs) Normandville Oil Battery Montney oil horizontal multi-frac play 5,000 bopd 950m vertical depth 15 mmcf/d Medium…
  11. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 11
    PEACE RIVER MONTNEY Enhanced Oil Recovery (EOR) Good waterflood candidate for oil displacement and pressure maintenance: Large oil in place reservoir Normandville Good rock permeability of 5 - 15 md EOR project at Normandville…
  12. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 12
    DEEP BASIN Edson 13-09 LRE Current production of 7,400 Boe/d Battery/Compressor (45% oil and NGLs) Station 6,500 boe/d (100%) Pine Creek Cardium horizontal light oil development 1,800m 1,900m vertical depth 13-19 LRE Multiwell…
  13. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 13
    DEEP BASIN Kakwa / Elmworth Current production 5,700 Boe/d (20% oil and NGLs) Cardium horizontal liquids-rich natural gas 1,000m 1,600m vertical depth NGL content (40-50 Bbl/Mmcf) Elmworth Third party gas plant at Kakwa is…
  14. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 14
    REDWATER VIKING 07-21 Redwater North Oil Battery Current production 3,300 Boe/d 5,000 bbls/d (85% oil and NGLs) 4.0 mmcf/d T58 Redwater Viking horizontal oil development 05-17 Redwater North Compressor Station 700m vertical depth…
  15. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 15
    SUPPLEMENTAL 15
  16. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 16
    2014 YEAR END RESERVES December 31, 2014 Reserves(1) Natural Oil NGLs Gas Total (MBbl) (MBbl) (MMcf) (MBoe) Proved Proved producing 15,164 7,799 194,693 55,412 Proved non-producing 304 818 19,975 4,451 Proved undeveloped…
  17. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 17
    2014 YEAR END RESERVES Reserves Pricing(1) 2014 2013 WTI Oil AECO Gas WTI Oil AECO Gas (US/Bbl) (CDN/Mcf) (US/Bbl) (CDN/Mcf) 2014 - - 95.72 4.01 2015 64.17 3.38 93.62 4.17 2016 76.67 3.83 92.25 4.35 2017 83.33 4.06 96.01 4.81…
  18. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 18
    TAX POOLS Tax Pools Annual Deduction Millions Undepreciated Capital Cost (UCC) Up to approximately 25% 330 Canadian Oil & Gas Property Expense (COGPE) Up to 10% 420 Canadian Development Expense (CDE) Up to 30% 830 Canadian…
  19. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 19
    BANK SYNDICATE Bank of Nova Scotia National Bank of Canada The Toronto-Dominion Bank HSBC Bank Canada Wells Fargo Bank, N.A., Canadian Branch Canadian Imperial Bank of Commerce Alberta Treasury Branches Union Bank, Canada Branch…
  20. July 2015 INVESTOR UPDATE – Long Run Exploration Ltd. – slide 20
    CORPORATE INFORMATION TSX:LRE Contacts Bill Andrew Chair & CEO (403) 261-6012 Dale Miller President & COO (403) 261-6012 Corine Bushfield Senior Vice President & CFO (403) 261-6012 Dale Orton Senior Vice President, Development…

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