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August 2015 Investor Presentation – Kelt Exploration Ltd.

Kelt Exploration Ltd. · Aug 20, 2015 · 32 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 – Kelt Exploration Ltd. – slide 1
    Corporate Presentation August 2015 David J. Wilson, President & Chief Executive Officer Sadiq H. Lalani, Vice President, Finance & Chief Financial Officer www.KeltExploration.com
  2. August 2015 Investor 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. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 3
    Common Share Information 3 Stock Exchange listing TSX Trading symbol KEL Market capitalization ( Aug / 6 / 2015 ) 1.2 billion 52-week trading range 5.79 - 13.89 Common shares issued 168.6 million Restricted share units ( RSUs )…
  4. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 4
    Capital Expenditures 4 2014 2015 Inception to ( millions ) Change Actual Forecast Dec/31/2015 Drilling & Completions 188.6 106.8 - 43% 379.7 [ 30% ] Facilities, Equipment & 46.1 44.0 - 5% 109.6 [ 9% ] Pipeline Infrastructure…
  5. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 5
    2015 Drilling Program 5 Gross Net D&C Avg / Well % Wells Wells ( MM ) ( MM ) Grande Prairie [1] 9 7.6 46 43% 6.1 Karr [2] 1 1.0 7 7% 7.0 Inga / Fireweed / 6 6.0 39 36% 6.5 Stoddart [3] Grande Cache [4] 1 1.0 6 6% 6.0 Other -…
  6. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 6
    Production Outlook 6 2014 Change 2015 Change Actual Split from Forecast Split from (average) 2013 (average) 2014 Oil ( bbls/d ) 3,413 27% + 561% 5,500 28% + 61% NGLs ( bbls/d ) 924 7% + 211% 1,740 9% + 88% Gas ( mcf/d )…
  7. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 7
    Production Growth ( since inception ) 7 PRODUCTION ( BOE / d ) PRODUCTION PER MM SHARES ( BOE / d ) 24,000 CAGR since 160 2013 = 122% CAGR since 2013 = 54% 20,000 19,500 126 120 105 16,000 12,756 12,260 79 12,000 80 69…
  8. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 8
    Commodity Prices 8 ( CA , unless otherwise specified ) 2014 2015 (E) Change WTI Crude Oil ( USD/bbl ) US 92.99 US 56.50 - 39% WTI Crude Oil ( CAD/bbl ) 102.49 71.91 - 30% NYMEX Natural Gas ( USD/mmBtu ) US 4.37 US 2.95 - 32% AECO…
  9. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 9
    Protecting Cash Flow through Hedging 9 ( CA unless otherwise specified ) Period Quantity Fixed Price Mar/1/15 to US 3.0 MM CA 1.258 or CAD / USD Exchange Rate [1] Dec/31/15 per month US 0.795 Jul/2/15 to Interest Rate Swap [2] CA…
  10. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 10
    Netbacks 10 ( / BOE ) 2014 2015 (E) Change Oil & gas revenue 46.11 31.46 - 32% Realized hedging gain ( loss ) ( 0.08 ) 0.22 Royalties ( % of revenue ) ( 13.3% ) ( 11.5% ) - 14% Transportation expense ( 2.30 ) ( 2.70 ) + 17%…
  11. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 11
    Financial Outlook 11 2015 (E) 2014 Change Forecast Revenue, before royalties ( MM ) 214.3 225.5 + 5% Funds from operations ( MM ) [1] 115.5 83.0 - 28% Per share diluted ( /share ) 0.93 0.53 - 43% Capital expenditures ( MM )…
  12. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 12
    2015 Commodity Price Sensitivities Funds from Operations 12 Forecasted 2015 Funds from Operations ( millions ) - Sensitivities to Commodity Prices : WTI Oil US 45.20 US 56.50 US 67.80 US 79.10 US 90.40 AECO Gas CA 2.20 49 68 85…
  13. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 13
    2015 Commodity Price Sensitivities Debt 13 Forecasted year-end 2015 Debt ( millions ) - Sensitivities to Commodity Prices : ( Available bank credit line is currently 300 million ) WTI Oil US 45.20 US 56.50 US 67.80 US 79.10 US…
  14. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 14
    2015 Commodity Price Sensitivities Debt Ratio 14 Forecasted Y/E 2015 Debt to 2015 Funds from Operations Ratio - Sensitivities to Commodity Prices: WTI Oil US 45.20 US 56.50 US 67.80 US 79.10 US 90.40 AECO Gas CA 2.20 4.5 x 3.0 x…
  15. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 15
    Core Areas 15 Grande Prairie ( includes Pouce Coupe, Spirit River & Valhalla/LaGlace ) : Montney/Doig gas development Montney light oil development Charlie Lake light oil development Halfway light oil development Inga / Fireweed…
  16. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 16
    Land Holdings 16 Gross Acres Net Acres Average WI Net Sections Developed 352,377 203,834 58% 318 Undeveloped 623,424 510,244 82% 797 Total 975,801 714,078 73% 1,115 Note: Growth in net land holdings since March 31, 2013:…
  17. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 17
    Recycle Ratio ( since inception ) 17 As at December 31, 2014 Proved + Recycle Ratio ( since inception ) Proved Probable Capital expenditures plus future 1,277.8 1,400.3 development capital expenditures ( MM ) Reserve additions, net (…
  18. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 18
    Alberta Land Base 18 Gordondale Operations Progress Spirit Kelts main field operating base is in the River Pouce city of Grande Prairie, currently staffed Coupe with 20 full-time employees. All operated properties are within a…
  19. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 19
    Grande Prairie 19 Gordondale LAND Spirit Gross: 305,068 acres ( 477 sections ) River Net: 194,157 acres ( 302 sections ) Progress PRODUCTION Pouce Coupe 2014 Production: 6,459 BOE/d ( 60% gas & 40% oil ) Valhalla / La…
  20. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 20
    Pouce Coupe 20 Targeting Montney (upper Progress and middle/lower) and Halfway O Pool Unit 7.8% WI Doig formations. Pouce Coupe Ownership in pipeline infrastructure, gas South Boundary B Unit 2 67.9% WI 8-18 Operated…
  21. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 21
    Progress / Spirit River 21 PROGRESS: Targeting Montney and 13-34 Halfway formations. Progress 13-33 Halfway 15-13 (50%) Gas Unit 1 15.9% WI SPIRIT RIVER: 16-11 H2O Disposal 15-5 Targeting the Charlie Lake formation.…
  22. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 22
    Valhalla / La Glace 22 Targeting the Montney formation. Ownership in pipeline infrastructure, oil Sexsmith Gas Plant battery and gas 13-33 (0.3% WI) compression. 15-33 Ownership interest (0.3%) in the Encana 1-19…
  23. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 23
    Karr 23 12-26 LAND Montney Rights: 16-10 (75%) 37.0 sections ( gross ) 16-8 (75%) MM 35.8 sections ( net ) OPERATIONS 16-31 2014 Production: 1,353 BOE/d MM 2015 ( 56% oil & 44% gas ) drill 15-28 & 16-28 4-2 OS 2015…
  24. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 24
    British Columbia Land Base 24 Operations Kelts secondary field office is based in Fireweed the town of Fort St. John. Core operated properties at Fireweed, Inga and Stoddart are in close proximity to Fort St. John. B.C. Land…
  25. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 25
    British Columbia DOIG Lands 25 LAND Doig Rights: Fireweed 16 MMcf/d Gross: 173 sections Compressor/ Facility (100% WI) Net: 167 sections OPERATIONS Fireweed Recent Doig wells completed using Inga 28 MMcf/d slick-water fractures…
  26. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 26
    BC Wells: DOIG Slick Water Completions 26 ( BOE / d ) PRODUCTION 2,500 10-21 Cumulative 10-21-87-23W6 2,000 Raw Gas: 1,023 MMcf 3-33-87-23W6 Condensate: 127 Mbbls 1,500 1,000 3-33 Cumulative 500 Raw Gas: 630 MMcf Condensate:…
  27. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 27
    British Columbia MONTNEY Lands 27 LAND C-26-A Montney (Sfc: A-6-A) Gross IP30 = Montney Rights: 1,147 BOE/d of which Gross: 158 sections 696 bbls/d (60%) was condensate Net: 157 sections Fireweed C-85-I Montney OPERATIONS…
  28. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 28
    BC Wells: MONTNEY Slick Water Completions 28 ( BOE / d ) PRODUCTION 1,400 8-31 Cumulative 8-31-87-23W6 1,200 Raw Gas: 245 MMcf C-26-A/94-A-13 1,000 C-26-A Cumulative Condensate: 55 Mbbls C-85-I/94-A-12 800 Raw Gas: 478 MMcf…
  29. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 29
    Future Considerations 29 DRILLING INVENTORY: Kelt estimates that it has numerous years of drilling inventory on its existing lands to continue to grow the Company. BALANCE SHEET: Kelt maintains financial flexibility so that it can…
  30. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 30
    Management 30 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…
  31. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 31
    Board of Directors 31 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…
  32. August 2015 Investor Presentation – Kelt Exploration Ltd. – slide 32
    Corporate Presentation August 2015 Suite 300, 311 6th Avenue SW Calgary, Alberta, Canada T2P 3H2 www.KeltExploration.com

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