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October 2015 Corporate Presentation – Kelt Exploration Ltd.

Kelt Exploration Ltd. · Oct 30, 2015 · 33 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. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 1
    Corporate Presentation October 2015 David J. Wilson, President & Chief Executive Officer Sadiq H. Lalani, Vice President, Finance & Chief Financial Officer www.KeltExploration.com
  2. October 2015 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. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 3
    Common Share Information 3 Stock Exchange listing TSX Trading symbol KEL Market capitalization ( Sep / 10 / 2015 ) 1.0 billion 52-week trading range 4.91 - 13.37 Common shares issued 168.6 million Restricted share units ( RSUs )…
  4. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 4
    Capital Expenditures 4 2014 2015 Inception to ( millions ) Change Actual Forecast Dec/31/2015 Drilling & Completions 188.6 99.8 - 47% 372.7 [ 30% ] Facilities, Equipment & 46.1 44.0 - 5% 109.6 [ 9% ] Pipeline Infrastructure…
  5. October 2015 Corporate 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 / 5 5.0 32 36% 6.4 Stoddart [3] Grande Cache [4] 1 1.0 6 6% 6.0 Other -…
  6. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 6
    Production Outlook 6 2015 Change Q4 2015 Forecast Split from Forecast Split (average) 2014 (average) Oil ( bbls/d ) 5,350 28% + 57% 6,200 28% NGLs ( bbls/d ) 1,650 9% + 79% 2,000 9% Gas ( mcf/d ) 72,000 63% + 43% 81,600 63%…
  7. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 7
    Production Growth ( since inception ) 7 PRODUCTION ( BOE / d ) PRODUCTION PER MM SHARES ( BOE / d ) 24,000 160 CAGR since 21,800 CAGR since 2013 = 119% 2013 = 52% 20,000 19,000 129 123 120 105 16,000 13,600 12,756 81 12,000 78…
  8. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 8
    Commodity Prices 8 ( CA , unless otherwise specified ) 2014 2015 (E) Change Q4 2015 (E) WTI Crude Oil ( USD/bbl ) US 92.99 US 52.50 - 44% US 56.00 WTI Crude Oil ( CAD/bbl ) 102.49 66.82 - 35% 73.36 NYMEX Natural Gas ( USD/mmBtu )…
  9. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 9
    Gas Marketing / Transportation Contracts 9 NIT Spectra Alliance Firm Service ( mmBtu / d ) TOTAL AECO Station 2 Chicago ALBERTA Current to Nov/30/15 38,000 - - 38,000 Dec/1/15 to Oct/31/16 38,000 - 8,100 46,100 [See Note 1]…
  10. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 10
    Protecting Cash Flow through Hedging 10 ( 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…
  11. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 11
    Netbacks 11 ( / BOE ) 2014 2015 (E) Change Oil & gas revenue 46.11 29.83 - 35% Realized hedging gain ( loss ) ( 0.08 ) 0.24 Royalties ( % of revenue ) ( 13.3% ) ( 10.4% ) - 22% Transportation expense ( 2.30 ) ( 2.72 ) + 18%…
  12. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 12
    Facility Spending to result in Cost Savings 12 In each of its core areas, Kelt has embarked on projects that are expected to reduce corporate operating and transportation expenses: KARR: Pembina Pipeline Corporation announced the…
  13. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 13
    Financial Outlook 13 2015 Q4-15 (F) 2014 Change Forecast Annualized Revenue, before royalties ( MM ) 214.3 208.5 - 3% 272.5 Funds from operations ( MM ) [1] 115.5 70.0 - 39% 115.0 Per share diluted ( /share ) 0.93 0.45 - 52%…
  14. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 14
    Commodity Price Sensitivities Funds from Operations 14 Forecasted Annualized Q4-2015 Funds from Operations - Sensitivities to Varying Commodity Prices ( millions ) WTI Oil US 45.00 US 56.00 US 67.00 US 78.00 NYMEX Gas / AECO Gas US…
  15. October 2015 Corporate 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. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 16
    Land Holdings 16 Gross Acres Net Acres Average WI Net Sections Developed 386,919 205,556 53% 321 Undeveloped 632,022 507,721 80% 793 Total 1,023,941 713,277 70% 1,114 Note: Growth in net land holdings since March 31, 2013:…
  17. October 2015 Corporate 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. October 2015 Corporate 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. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 19
    Grande Prairie 19 Gordondale LAND Spirit Gross: 308,908 acres ( 483 sections ) River Net: 195,017 acres ( 305 sections ) Progress PRODUCTION Pouce Coupe 2014 Production: 6,459 BOE/d ( 60% gas & 40% oil ) Valhalla / La…
  20. October 2015 Corporate 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. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 21
    Progress / Spirit River 21 PROGRESS: Targeting Montney and Progress 13-34 Halfway Gas Unit 1 15.9% WI Halfway formations. 15-13 (50%) 13-33 SPIRIT RIVER: 15-5 Targeting the Charlie 16-11 H2O Lake formation.…
  22. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 22
    Valhalla / La Glace 22 Targeting the Montney formation. Kelt Valhalla/La Glace 3,500 bopd + Ownership in pipeline + 20 MMcf/d Facility infrastructure, oil (100% WI) Sexsmith Gas Plant battery and gas 13-33 (0.3% WI)…
  23. October 2015 Corporate 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 Top…
  24. October 2015 Corporate 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. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 25
    British Columbia DOIG Lands 25 LAND Doig Rights: Fireweed 16 MMcf/d Gross: 175 sections Compressor/ Facility (100% WI) Net: 168 sections OPERATIONS Fireweed Recent Doig wells completed using Inga 28 MMcf/d slick-water fractures…
  26. October 2015 Corporate 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. October 2015 Corporate 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: 163 sections 696 bbls/d (60%) was condensate Net: 162 sections Fireweed C-85-I Montney OPERATIONS…
  28. October 2015 Corporate 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. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 29
    British Columbia BALDONNEL Lands 29 LAND Baldonnel Rights: Gross: 149 sections Net: 138 sections OPERATIONS Oil exploration activity with plans to drill initial well in 2016. Competitor activity offsetting Kelt lands has been…
  30. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 30
    Future Considerations 30 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…
  31. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 31
    Management 31 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…
  32. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 32
    Board of Directors 32 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…
  33. October 2015 Corporate Presentation – Kelt Exploration Ltd. – slide 33
    Corporate Presentation October 2015 Suite 300, 311 6th Avenue SW Calgary, Alberta, Canada T2P 3H2 www.KeltExploration.com

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