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August 2015 Investor Presentation – Granite Oil Corp

Granite Oil Corp · Aug 14, 2015 · 31 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. August 2015 Investor Presentation – Granite Oil Corp – slide 1
  2. August 2015 Investor Presentation – Granite Oil Corp – slide 2
    Granite Organic Growth + Sustainable Dividend Optimize Return Free Cash Flow-generating, low-decline conventional oil pool 100% land and infrastructure control on large oil asset Established gas injection EOR scheme driving…
  3. August 2015 Investor Presentation – Granite Oil Corp – slide 3
    Granite Oil Corp. Market Facts TSX Symbol GXO OTCQX GXOCF Common Shares Outstanding Basic (MM) 30.4 Fully Diluted (MM) 31.5 Insider Holdings Basic (%) 24 Fully Diluted (%) 26 Financial Highlights Market Capitalization (MM)…
  4. August 2015 Investor Presentation – Granite Oil Corp – slide 4
    Keys to a Strong, Sustainable Dividend Company KEY REQUIREMENTS GRANITE OIL HIGHLIGHTS DETAILED SLIDES Strong Capital Organic, low costs, established land and 8, 15, 24 Efficiencies infrastructure Large oil asset with proven…
  5. August 2015 Investor Presentation – Granite Oil Corp – slide 5
    The Asset G R A N I T E O I L C O R P. T S X : G X O 6
  6. August 2015 Investor Presentation – Granite Oil Corp – slide 6
    Alberta Bakken Development Timeline EOR PILOT Test Secondary Recovery with gas injection EXPLORATION Design Infrastructure for MAXIMIZE RETURNS Alberta Bakken Discovery: Full-Scale Deployment Maximize Oil Recovery Reagan 1-3…
  7. August 2015 Investor Presentation – Granite Oil Corp – slide 7
    Granite Asset Alberta Bakken 350,000 Net Acreage 100% Owned Facilities 80 Section Oil Pool 162 Drilling Locations G R A N I T E O I L C O R P. 8
  8. August 2015 Investor Presentation – Granite Oil Corp – slide 8
    Bakken Pool Development and Drilling Inventory PHASE 1 EOR 8 Wells / Section PHASE 2 EOR PHASE 3 EOR 48 Wells 8 Wells / Section 8 Wells / Section 16 Wells 32 Wells WEST BAKKEN DEVELOPMENT 4 Wells / Section 66 Wells G…
  9. August 2015 Investor Presentation – Granite Oil Corp – slide 9
    Gas Injection Enhanced Oil Recovery G R A N I T E O I L C O R P. T S X : G X O 10
  10. August 2015 Investor Presentation – Granite Oil Corp – slide 10
    Maximizing Recovery and Capital Efficiency Proven results from gas injection EOR scheme: Observed improvement in production decline profile in new and existing wells Produced gas is re-injected into the reservoir to manage voidage…
  11. August 2015 Investor Presentation – Granite Oil Corp – slide 11
    Results Mitigating Long-term Pool Declines LEGEND Gas Injection Well Water Injection Well Wells Included in Decline Analysis in Study Area Wells Drilled and Completed New 2H14 / Q1 in 2H14 / Q1 2015 2015 Production Excluded…
  12. August 2015 Investor Presentation – Granite Oil Corp – slide 12
    Results Mitigating Initial Well Declines Comparison of Well Declines With and Without EOR Support 1000 EOR SUPPORT FROM INITIAL PRODUCION Oil Production (Bbl/d) 100 NO EOR SUPPORT Wells Outside 10 EOR Show Typical…
  13. August 2015 Investor Presentation – Granite Oil Corp – slide 13
    Results Mitigating Long-term Pool Declines ALBERTA BAKKEN PRODUCTION 6000 20000 Total Production Excluding 2015 Wells 18000 Total Production 5000 16000 Projected - Total Production Excluding 2015 Wells Total Gas Injection…
  14. August 2015 Investor Presentation – Granite Oil Corp – slide 14
    The Process Dry Make-up Gas C5+ Hydrocarbons to Compressor Sales Gas Plant Dry Gas to Compressor Compressed Gas Separator Re-injected Produced Oil + Gas Oil to Sales EOR Basics Injected gas in the top of the reservoir…
  15. August 2015 Investor Presentation – Granite Oil Corp – slide 15
    Oil Production Gas Injection Optimizing Drilling 10 m Miscible Gas Injected into the Top of the Reservoir Increases Pressure and Oil Mobility Limestone Cap Deeper Infill Production Wells Optimize Reservoir…
  16. August 2015 Investor Presentation – Granite Oil Corp – slide 16
    Injection on Structural Highs ALBERTA BAKKEN TOP STRUCTURE -1250 m Planned 2015 Depth Infill Gas Injectors -1300 m Gas Injection on Structural Highs Supports Pressure Drive for Deeper Producers G R A N I T E O I L…
  17. August 2015 Investor Presentation – Granite Oil Corp – slide 17
    EOR Area Phase 1 Development - Ten Year Drilling and Injection Plan POOL DEVELOPMENT 48 Well PLAN - YEAR 2025 Inventory Optimize EOR efficiency in the Core: on 200 m Down Spacing Re-inject 100% of produced gas from the Bakken pool…
  18. August 2015 Investor Presentation – Granite Oil Corp – slide 18
    Swanson River Oil Pool Study Gas Injection-Supported Undersaturated Oil Reservoir Discovered in Apr. 1957; Drilling development largely completed by 1963 with 55 completed wells Gas injection pilot program started in 1962 in…
  19. August 2015 Investor Presentation – Granite Oil Corp – slide 19
    Long-Term Organic Gas Supply and Injection Facilities BOW ISLAND GAS POOL ISOPACH Three secure, organic gas sources provide long-life EOR support: Produced gas from the Bakken pool 100%-owned, existing non-Bakken gas production…
  20. August 2015 Investor Presentation – Granite Oil Corp – slide 20
    Economics G R A N I T E O I L C O R P. T S X : G X O 21
  21. August 2015 Investor Presentation – Granite Oil Corp – slide 21
    Three-Year Business Plan Dividend + Growth 6000 80 5000 70 4000 27 Production (Bbl/d) 60 50 4 3000 12 MM 12 72 40 2000 30 2 6 48 13 20 32 33 1000 20 10 15 0 0 2H 15 2016 2017 Cash Flow Hedges Capex…
  22. August 2015 Investor Presentation – Granite Oil Corp – slide 22
    Well Economics TYPE WELL DEFINITION Bakken Type Well 300 Well Cost: 2.8 MM EUR: 240 Mbbl 250 Capital Efficiency: 15,000 per 200 daily flowing bbl Bbl/day Year 1: 190 bbl/d average 150 Well F+D: 11.67 / bbl 100 Royalty:…
  23. August 2015 Investor Presentation – Granite Oil Corp – slide 23
    2015 Budget Average Production Level Oil & NGLs (Bbl/d) 3500 Reserves MMBOE (Sproule P&P) January 1, 2015 16.956 Guidance 2H15 CAPEX (MM) 20 2H15 Production (Bbl/d) 3500 2016 CAPEX (MM) 32 2016 Production (Bbl/d) 4000 G…
  24. August 2015 Investor Presentation – Granite Oil Corp – slide 24
    Hedges/Tax Pools 100% 100 90% 81.93 81.93 80% TAX POOL CATEGORY AMOUNT (MM) 80 70% CDE 129 78.42 78.42 UCC 8 Production Hedged (%) Hedge Prices (US/BBl) 60.97 60.97 62.22 62.22 60% 64% 60 60% 60.97 60.97 62.22…
  25. August 2015 Investor Presentation – Granite Oil Corp – slide 25
    The Team G R A N I T E O I L C O R P. T S X : G X O 26
  26. August 2015 Investor Presentation – Granite Oil Corp – slide 26
    Granite Oil Corp.s Team MANAGEMENT TEAM Michael Kabanuk President and Chief Executive Officer Michael is a Professional Engineer with 23 years of engineering and management experience in the oil and natural gas industry. Prior to…
  27. August 2015 Investor Presentation – Granite Oil Corp – slide 27
    Granite Oil Corp.s Team BOARD OF DIRECTORS Brendan Carrigy Chair Kevin Andrus Martin Cheyne Michael Kabanuk Henry Hamm Dennis Nerland Bradley Porter G R A N I T E O I L C O R P. T S X : G X O 28
  28. August 2015 Investor Presentation – Granite Oil Corp – slide 28
    APPENDIX G R A N I T E O I L C O R P. T S X : G X O 29
  29. August 2015 Investor Presentation – Granite Oil Corp – slide 29
    Testing EOR Demonstrating Sustainable Results 1000 EOR Support after 18 Months of Production EOR Successfully Unsupported Supporting Decline Production 100 Oil Production (Bbl/d) 100/06-23-003-17W4/00 4000 Commence…
  30. August 2015 Investor Presentation – Granite Oil Corp – slide 30
    Production (bbl/d) Production (bbl/d) Production (bbl/d) 1 10 100 1000 1 10 100 1000 1 10 100 1000 2012-07 2012-03 2014-03 2012-09 2014-04 2012-06 2012-11 2013-01 2014-05 2012-09 2013-03 2012-12 2014-06 2013-05…
  31. August 2015 Investor Presentation – Granite Oil Corp – slide 31
    Sustainable Below 50 WTI 4000 3500 35 2 0 0 3000 30 4 12 12 2500 25 Production (Bbl/d) 13 6 2000 MM 20 29 31 1500 15 19 19 1000 10 17 14 500 5 0 0 2H 15 2016 2017 Cash Flow Hedges Capex Dividend Free Cash…

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