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Jefferies Energy Conference – Lonestar Resources Ltd.

Lonestar Resources Ltd. · Nov 11, 2015 · 37 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. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 1
    Lonestar Resources, Ltd. Jefferies 2015 Energy Conference
  2. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 2
    Company Profile Share Price History Lonestar is a rapidly growing E&P company 35.00 100.0 focused on the Eagle Ford Shale 30.00 Drilling and acquisition capital concentrated in 80.0 the crude oil window of the Eagle Ford Shale…
  3. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 3
    Lonestars Growth History Current Team In Place Since 2012 Company Originally Funded by Ecofin, UKbased Private Equity Group Assembled Team of Senior Personnel from Encore, Pioneer, Denbury, Approach. Focused on Developing…
  4. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 4
    3Q15 Headlines Continued Execution 2015 Drilling Budget Accomplishing Key Objectives: 3Q15 Production by Product 1 Achieve Production Growth of 36 to 41% to 6,100 6,300 BOEPD, Grow Volumes Sequentially Over 2015 Production…
  5. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 5
    Quarterly Financial Summary Quarterly Production Total Company Quarterly Production Total Company 8,000 8,000 7,000 7,000 6,000 6,000 Production (BOEPD) Production (BOEPD) 5,000 5,000 4,000 4,000 3,000 3,000 2,000…
  6. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 6
    Eagle Ford Shale Growth and Development Plan
  7. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 7
    Lonestars Track Record of Rapid Growth Net Acreage Eagle Ford Shale Trend Reserves (MMBOE)1 35,000 50 30,000 40 25,000 30 20,000 15,000 20 10,000 10 5,000 0 0 Dec11 Dec12 Dec13 Dec14 Dec11 Dec12 Dec13 Dec14 Proved Probable…
  8. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 8
    Portfolio Focused on the Eagle Ford Total Eagle Ford Engineered Acreage Net Acres 35,487 NonEngineered Acreage Gross Engineered Locations 143 Additional Locations 70 Avg. W.I. 92% Eastern Net Acres 1 10,730 Gross Engineered…
  9. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 9
    Lonestars Footprint Across The Eagle Ford Is Significant 14 12 10 Counties With Completions 8 6 4 2 0 10
  10. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 10
    Revenue/BOE vs % Oil Production 50.00 LNREF 45.00 40.00 Revenue / BOE 35.00 30.00 25.00 20.00 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% % Oil Production Note: Revenue/BOE from 2Q15 (unhedged). Peer…
  11. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 11
    Production Cost/BOE vs % Oil Production 30.00 25.00 Production Costs / BOE 20.00 15.00 LNREF 10.00 5.00 0.00 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% % Oil Production Note: Production Cost /BOE from 2Q15.…
  12. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 12
    Unhedged Field Netback/BOE vs % Oil Production 35.00 LNREF 30.00 Field Netback / BOE 25.00 20.00 15.00 10.00 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% % Oil Production Note: Field Netback/BOE from 2Q15.…
  13. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 13
    Lonestar Valuation Relative to its Peers 14.0x 12.0x Lonestar 10.0x TEV/ EBITDAX 8.0x 6.0x 4.0x Lonestar 2.0x 0.0x 0.00 5.00 10.00 15.00 20.00 25.00 30.00 35.00 40.00 TEV / Proved Reserves Note: Data as of…
  14. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 14
    Eagle Ford Shale Asset Overview
  15. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 15
    Western Region Summary Overview Lonestars Properties & Offset Wells Gross Leasehold 14,440 Net Leasehold 13,199 % HBP 63% Engineered Acreage Top EPS 6,000' to 9,250' Lateral Lengths 4,000' to 8,000' NonEngineered Acreage Assumed…
  16. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 16
    Western Region Burns Ranch Area Overview Gross Leasehold 3,697 Net Leasehold 2,905 % HBP 70% Top EPS 7,300' to 8,000' Assumed Spacing 500' WI% 79% NRI % 59% Engineered Locations Category Length PDP 0 5,000' 1 PUD 6 6,000' 2 PROB 18…
  17. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 17
    Burns Ranch Unit 1H3H Benchmarking Burns Ranch Locator Map Burns Ranch Eagle Ford Offset Cumulative To Date Burns Ranch Well Highlights Burns Ranch Eagle Ford Offset Monthly BOEPD To Date Lonestar studied 113 offset wells drilled…
  18. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 18
    Western Region Beall Ranch Overview Gross Leasehold 2,390 Net Leasehold 2,335 % HBP 100% Top EPS 7,000' to 7,300' Assumed Spacing 500' WI% 98% NRI % 73% Engineered Locations Category Length PDP 18 5,000' 11 PUD 17 6,000' 5 PROB 0…
  19. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 19
    2014 and 2015 Targeting Comparison Green windows show the best rock to initiate the frac based on Poissons Ratio and Youngs Modulus. 2014 Top of Target (25+) 2015 Top of Target (11+) 2015 Bottom of Target (11-)…
  20. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 20
    3D Visual Between Upper and Lower Limits Looking from the South to the North 26H, 27H, 28H wells are 99% in the new 25 target window 21
  21. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 21
    Better Targeting Yielding Better Productivity Ranger Beall Ranch Production Per 1,000 Feet 200 12,000 180 11,000 10,000 160 9,000 140 Cum. bbls / 1,000 FT 8,000 BOPD / 1,000 FT 120 7,000 100 6,000 80 2015 5,000…
  22. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 22
    Western Region Horned Frog Overview Gross Leasehold 4,402 Net Leasehold 4,063 % HBP 0% Top EPS 8,750' to 9,250' Assumed Spacing 700' WI% 92% NRI % 72% Nonengineered Locations Category Length PDP 0 5,000' 0 PUD 2 6,000' 0 PROB 17…
  23. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 23
    Horned Frog Benchmarking Horned Frog Locator Map Horned Frog Eagle Ford Offset 30Day IP 1,600 B1H A1H 1,500 Proppant Concentration (/ft) 1,400 1,300 1,200 1,100 1,000 900 800 700 600 0 200 400 600 800 1,000 1,200…
  24. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 24
    Central Region Summary Overview Lonestars Properties & Offset Wells Gross Leasehold 12,043 Engineered Acreage Net Leasehold 11,558 % HBP 54% NonEngineered Acreage Top EPS 6,000' to 9,500' Southern Gonzales Lateral Lengths 5,000' to…
  25. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 25
    Central Region Southern Gonzales Overview Gross Leasehold 970 Net Leasehold 485 % HBP 100% Top EPS 8,700' to 9,500' Assumed Spacing 500'750' WI% 50% NRI % 38% Engineered Locations Category Length PDP 6 5,000' 0 PUD 0…
  26. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 26
    Eastern Region Summary Overview Lonestars Properties & Offset Wells Gross Leasehold 12,078 1 Engineered Acreage Net Leasehold 10,730 NonEngineered Acreage % HBP 33% Top EPS 6,500' to 12,000' Lateral Lengths 4,000' to 8,000' Aguila…
  27. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 27
    Eastern Region Competitor Activity Source: Apache Corp. August 2015 Investor Presentation 28
  28. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 28
    Lonestar Is WellPositioned In Brazos County Apaches Area A Wildcat Source: Apache Corporation August Investor Presentation and Company data 29
  29. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 29
    Wildcat Offset Well Success Apache Walker 1H- 1,897 BOEPD Wildcat Apache Walker 3H- 1,973 BOEPD Area A Reserve Categories Eagle Ford producer Apache Rae 3H- 1,587 BOEPD Eagle Ford location Apache Rae 4H- 1,520 BOEPD Proved…
  30. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 30
    Conventional Assets Stability & Free Cash Flow
  31. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 31
    Conventional Assets 3.5 MMBOE Proved Reserves 1 79% Crude Oil 11% of Lonestars Total Proved Reserves 645 BOEPD 3Q15 Production North Texas 57% Crude Oil & NGLs 10% of Lonestars Total Production LongLived Reserves with Low Capital…
  32. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 32
    2015 Guidance Average Daily Production Results & Guidance 2015 Eagle Ford Drilling Budget 74 to 83 million 6,500 16 gross / 14.2 net wells 6,000 Negligible spending on Conventional Assets, similar to 2014 5,500 Goal to essentially…
  33. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 33
    Appendix
  34. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 34
    High Caliber Management Team Executive Previous Experience Biography Over 28 years experience in oil and gas finance Frank D. Bracken, III Previously Managing Director at Jefferies LLC, where he led 5 billion in oil and gas Chief…
  35. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 35
    High Caliber Management Team (Contd) Executive Previous Experience Biography Scott E. Sabatka Over 34 years US / international exploration and development experience, including in the Texas Gulf Coast, Permian, Williston, Powder…
  36. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 36
    Lonestars Hedges Are Among Highest of its Peers 90.00 Lonestar 80.00 Avgerage Price (/bbl) 70.00 60.00 50.00 40.00 30.00 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% % Of Oil Hedged 2016 Note: Data as of…
  37. Jefferies Energy Conference – Lonestar Resources Ltd. – slide 37
    EBITDA Assumptions EBITDA estimates are based on the following assumptions: Production estimates as set out in this presentation. The total number of planned wells at each asset is consistent with assumptions contained in the…

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