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December 2015 Investor Presentation – Kelt Exploration Ltd.

Kelt Exploration Ltd. · Dec 7, 2015 · 34 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. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 1
    Corporate Presentation December 2015 David J. Wilson, President & Chief Executive Officer Sadiq H. Lalani, Vice President, Finance & Chief Financial Officer www.KeltExploration.com
  2. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 2
    Why Invest in Kelt 2 TRACK RECORD/EXPERIENCE: the Kelt management team has a track record of creating shareholder value, previously with Celtic Exploration Ltd., sold in February 2013 for 3.2 billion. GROWTH ORIENTED: Kelt…
  3. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 3
    Common Share Information 3 Stock Exchange listing TSX Trading symbol KEL Market capitalization ( Nov / 12 / 2015 ) 700 million 52-week trading range 4.13 - 10.58 Common shares issued 168.6 million Stock options (6.7 MM) & RSUs…
  4. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 4
    Capital Expenditures 4 2015 2016 2016/15 ( millions ) 2014 Forecast Forecast Change Drilling & Completions 188.6 100.0 75.0 - 25% Facilities, Equipment & 46.1 47.0 22.0 - 53% Pipeline Infrastructure Land, Seismic & Asset 21.6…
  5. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 5
    Drilling Program 5 Gross Net Average Notes: 2015 Wells Wells WI % [1] Alberta drilling prospects include: Alberta [1] 13 11.1 85% (a) Grande Prairie ( Pouce Coupe / Progress / Spirit River / La Glace ): - Montney British Columbia…
  6. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 6
    Production Outlook 6 2015 2016 2016/15 Forecast Split Forecast Split Change (average) (average) Oil ( bbls/d ) 5,250 28% 5,800 26% + 10% NGLs ( bbls/d ) [1] 1,750 9% 2,200 10% + 26% Gas ( mcf/d ) 72,000 63% 84,000 64% +…
  7. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 7
    Production Growth ( since inception ) 7 PRODUCTION ( BOE / d ) PRODUCTION PER MM SHARES ( BOE / d ) 28,000 160 CAGR since CAGR since 2013 = 77% 2013 = 35% 24,000 130 22,000 123 120 20,000 19,000 105 16,000 83 14,000 78 12,756…
  8. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 8
    Commodity Prices 8 2016/15 ( CA , unless otherwise specified ) 2014 2015 (E) 2016 (E) Change WTI Crude Oil ( USD/bbl ) [1] US 92.99 US 51.00 US 56.00 + 10% WTI Crude Oil ( CAD/bbl ) 102.49 65.03 73.36 + 13% NYMEX Natural Gas (…
  9. December 2015 Investor 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 Nov/1/16 to…
  10. December 2015 Investor 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. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 11
    Netbacks 11 2016/15 ( / BOE ) 2014 2015 (E) 2016 (E) Change Oil & gas revenue 46.11 28.07 31.56 + 12% Realized hedging gain ( loss ) ( 0.08 ) 0.01 - Royalties ( % of revenue ) ( 13.3% ) ( 10.2% ) ( 10.7% ) + 5% Transportation…
  12. December 2015 Investor 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. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 13
    Financial Outlook 13 2015 2016 2016/15 2014 Forecast Forecast Change Revenue, before royalties ( MM ) 214.3 194.8 254.1 + 30% Funds from operations ( MM ) [1] 115.5 68.0 110.0 + 62% Per share diluted ( /share ) 0.93 0.44 0.65 +…
  14. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 14
    Commodity Price Sensitivities Funds from Operations 14 Forecasted 2016 Funds from Operations - Sensitivities to varying Commodity Prices ( millions ) WTI Oil US 45.00 US 56.00 US 67.00 US 78.00 AECO Gas 2.20 70 87 101 114 2.95 94…
  15. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 15
    Core Areas 15 Grande Prairie ( includes Pouce Coupe, Progress, Spirit River & La Glace ) : Montney/Doig gas development Montney light oil development Charlie Lake light oil development Halfway light oil development Inga /…
  16. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 16
    Land Holdings 16 Gross Acres Net Acres Average WI Net Sections Developed 387,239 205,866 53% 321 Undeveloped 666,620 537,318 81% 840 Total 1,053,859 743,184 71% 1,161 Note: Growth in net land holdings since March 31, 2013:…
  17. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 17
    Reserves 17 Kelt Kelt + Kelt + Artek Kelt Dec/31/13 Artek Dec/31/14 Dec/31/13 NPV 10% BT Dec/31/14 NPV 10% BT ( MMBOE ) ( MM ) ( MMBOE ) ( MM ) Proved Developed 18.2 258 33.4 504 Producing Total Proved 35.3 332 85.1 929 Proved…
  18. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 18
    Recycle Ratio ( since inception ) 18 As at December 31, 2014 Proved + Recycle Ratio ( since inception ) Proved Probable Capital expenditures plus future development 1,277.8 1,400.3 capital expenditures ( MM ) Reserve additions, net…
  19. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 19
    Alberta Land Base 19 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…
  20. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 20
    Grande Prairie 20 Gordondale LAND Spirit Gross: 308,908 acres ( 483 sections ) River Net: 195,017 acres ( 305 sections ) Progress Pouce Coupe OPERATIONS Top five IP30 wells Valhalla / La Glace ( gross sales, BOE/d ):…
  21. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 21
    Pouce Coupe 21 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…
  22. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 22
    Progress / Spirit River 22 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. Disposal…
  23. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 23
    Valhalla / La Glace 23 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)…
  24. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 24
    Karr 24 12-26 LAND Montney Rights: 16-10 (75%) 37.0 sections ( gross ) 16-8 (75%) MM 35.8 sections ( net ) OPERATIONS 16-31 Top four IP30 wells MM 2015 ( gross sales, BOE/d ): drill 15-28 16-28 4-2 OS 2015 (1) Karr…
  25. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 25
    British Columbia Land Base 25 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…
  26. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 26
    British Columbia DOIG Lands 26 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…
  27. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 27
    BC Wells: DOIG Slick Water Completions 27 ( BOE / d ) PRODUCTION 2,500 10-21 Cumulative 10-21-87-23W6 2,000 Raw Gas: 1,406 MMcf 3-33-87-23W6 Condensate: 146 Mbbls 1,500 1,000 3-33 Cumulative 500 Raw Gas: 869 MMcf Condensate:…
  28. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 28
    British Columbia MONTNEY Lands 28 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…
  29. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 29
    BC Wells: MONTNEY Slick Water Completions 29 ( BOE / d ) PRODUCTION 1,400 8-31 Cumulative 8-31-87-23W6 1,200 Raw Gas: 414 MMcf C-26-A/94-A-13 1,000 C-26-A Cumulative Condensate: 75 Mbbls C-85-I/94-A-12 800 Raw Gas: 623 MMcf…
  30. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 30
    British Columbia BALDONNEL Lands 30 LAND Baldonnel Rights: Gross: 149 sections Net: 138 sections OPERATIONS Oil exploration activity with plans to drill initial well in 2016/2017. Competitor activity offsetting Kelt lands has…
  31. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 31
    Future Considerations 31 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…
  32. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 32
    Management 32 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…
  33. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 33
    Board of Directors 33 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…
  34. December 2015 Investor Presentation – Kelt Exploration Ltd. – slide 34
    Corporate Presentation December 2015 Suite 300, 311 6th Avenue SW Calgary, Alberta, Canada T2P 3H2 www.KeltExploration.com

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