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February 2016 Investor Presentation – Raging River Exploration Inc.

Raging River Exploration Inc. · Feb 3, 2016 · 30 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. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 1
    February 2016
  2. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 2
    RRX an Organic Growth Story 20,000 20.00 18,000 18.00 16,000 16.00 RRX Stock Price/WTI Cdn/10 RRX Production boe/d 14,000 14.00 12,000 12.00 10,000 10.00 8,000 8.00 6,000 6.00 4,000 4.00 2,000 2.00 - -…
  3. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 3
    Viking Light Oil 100% of Raging Rivers Assets 3 TSX: RRX
  4. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 4
    Raging River All Corporate Wells RRX All Wells All Areas 70 Average RRX Well 70% Crown 30% FH (Tier 6) WTI FX WTI-MSW Edm Par Capex EUR PV 10 IRR Payout US/bbl Cdn/US /Cdn /Cdn Per Well mbbls M % Months 60 35 0.70 4.00 46.00 725 50…
  5. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 5
    Raging River Profile TSX Listed RRX Basic Shares 213.5 million(1) Dilutive Securities (strike at 8.23/share) 10.0 million(1) Fully Diluted Shares 223.5 million Insider Ownership 11.2% Basic (200 million of exposure) Insider…
  6. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 6
    RRX December 31, 2015 Reserve Growth December 31, 2015 December 31, 2014 Natural Reserve Category Oil Gas Total1 % Total1 YOY Change (Mbbls) (Mmcf) (Mboe) P+P (Mboe) (%) Proved Developed Producing 22,431 12,592 24,530 32% 19,103…
  7. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 7
    RRX December 31, 2015 Independent Reserves 2015 Year End 2014 Year End Reserves Reserves Oil Gas Total1 BTAX PV FDC FDC Net Net Category 10% Mbbls Mmcf Mboe MMs PUDs MMs PUDs MMs Proved Developed 22,431 12,592 24,530 602 911 (2)…
  8. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 8
    Historical Performance Measures 2015 2014 2013 2012 Average crude oil price WTI US/bbl 48.80 93.00 97.98 94.19 Capital (000) 339,950 278,594 272,495 154,032 Production boe/d 13,715 10,755 5,665 2,277 Operating netback /boe 35.52…
  9. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 9
    Historical Performance Measures 2015 2014 2013 2012 Average crude oil price WTI US/bbl 48.80 93.00 97.98 94.19 Capital (000) 339,950 278,594 272,495 154,032 Production boe/d 13,715 10,755 5,665 2,277 Operating netback /boe 35.52…
  10. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 10
    2016 Capital Flexibility RRX Has a Plan Downside Revised Original Scenario Guidance Budget Oil (US WTI) 30.00 32.50 42.50 Edmonton Par (C/bbl)(1) 38.92 42.00 52.79 FFO /boe(3) 16.17 20.00 27.81 Capital 125,000 150,000 190,000…
  11. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 11
    The Plan is not just 2016 It is a 10 year vision 7% Growth Model - Jan 19th, Strip Pricing Includes 16 million per year of Waterflood Capital 2017 & Beyond 30,000 300,000 28,000 (1.12) 280,000 D/CF 26,000 (0.72) 260,000 D/CF…
  12. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 12
    Lower for Longer Still Yields Free Cash Flow No Growth Model - Flat at 16,000 boepd Includes 12 million per year of Waterflood Capital 2017 & Beyond 20,000 200,000 18,000 180,000 Average Production boepd (91% Oil) 16,000…
  13. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 13
    RRX Funds Flow vs WTI RRX FFO vs WTI 50 45 40 35 FFO Cdn/boe 30 25 20 15 10 5 0 15 20 25 30 35 40 45 50 55 60 WTI US/bbl 13
  14. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 14
    Raging River Expands Dominant Viking Position PROVOST Apache, Spur, Raging River, Rolling Hills Viking Light Oil Resource Play KERROBERT 6000 Drilled and Licensed HZ wells Raging River, Whitecap, 5300 With Public Domain Production…
  15. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 15
    RRX Land Evolution Added Total Prospective Year Net Acres Net Acres Net Acres Opening 76,800 76,800 54,400 2012 40,967 117,767 99,200 2013 91,077 208,845 128,000 2014 16,489 225,334 166,400 2015 138,676 364,010 243,840 2016 7,110…
  16. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 16
    RRX Economic Drilling Inventory RRX Risked Remaining Economic Drilling Inventory 4,500 4,000 3,500 Tier 2 3,000 Tier 3 of Locations 2,500 Tier 4 2,000 1,500 Tier 5+ 1,000 500 - 40 50 60 70 Based on 0.74 F/X…
  17. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 17
    Navigating Rough Waters 2016 Budget Budget is flexible Balance sheet protection remains paramount H1 2016 contemplates capital expenditures of 50-60 million versus cashflow at 30US/bbl WTI of 49 million With 20 day cycle times and a…
  18. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 18
    Office For further information 1700, 605-5th Avenue SW Please contact: Calgary, Alberta T2P 3H5 Mr. Neil Roszell, P.Eng. Main: (403) 387-2950 Email: nroszellrrexploration.com Fax: (403) 387-2951 Phone: (403) 767-1250 Website Mr. Jerry…
  19. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 19
    Appendix Information
  20. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 20
    Management Team and Board of Directors Management Team Neil Roszell, P. Eng. Jason Jaskela, P. Eng. Jerry Sapieha, CA President, CEO & Director VP Production & COO VP Finance & CFO Bruce Beynon, P. Geol. Scott Rideout Jesse Barlow,…
  21. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 21
    Drilling Density Drill Spacing at 16 wells per section OOIP 10 MMbbls 16 Tier 5-6 HZ wells will recover 640-800 Mbbls In high OOIP sections (6.4-8.0% Recovery) 16 HZ wells per section Reservoir modelling leaves significant shows…
  22. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 22
    Waterflood A Long Term Strategy Dodsland One Section Waterflood - Predicted Response 22 Wells Per Section 10 wells converted to injectors 1,400 1,200 Minimum of 60 sections with WF potential Implement 4 sections per year for 15…
  23. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 23
    Waterflood Value 14.00 Recycle Ratio of Waterflood 12.00 Why Waterflood 10.00 Long term value creation Recyle Ratio 8.00 Strong recycle ratios 6.00 Double primary recovery 4.00 Competitive payouts and 2.00 IRRs -…
  24. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 24
    Waterflood Works Gleneath 140 120 100 Oil Rate (bbl/d) 80 60 40 20 0 - 60 120 180 240 300 360 Days On Production 27 RRX 2014 - 2 Wells RRX 2015 - 5 Wells Tier 5 Tier 7 Tier 9
  25. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 25
    Anegada Acquisition Recent Rolling Hills & Novus Activity Alberta Saskatchewan RRX Land Acqn. Assets Acqn. Royalty Assets Viking HZ wells PROVOST Recent Spur Activity ESTHER HOOSIER PRAIRIEDALE SEDALIA…
  26. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 26
    Anegada Acquisition Historical Wells Anegada All Wells 120 9000 8000 100 7000 80 6000 Oil Rate (bbl/d) GOR (scf/bbl) 5000 60 4000 40 3000 2000 20 1000 0 0 - 60 120 180 240 300 360 Days On Production…
  27. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 27
    What is current Best half cycle F&D Old PDP P+PP New PDP P+PP Proved + Tier Proved Probable Capital F&D F&D Capital F&D F&D 2 17 20 925 54.41 46.25 725 42.65 36.25 3 20 25 925 46.25 37.00 725 36.25 29.00 4 25 32.5 925 37.00 28.46…
  28. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 28
    Independent Engineering per well Booking Structure Crown Royalties Based on 40/bbl WTI pricing, 0.70 F/X (US/CAD), WTI/Ed Light Differential 8% of WTI On-stream Capital of 725,000 per well Well Proved + Proved + Spacing 90 Day…
  29. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 29
    Independent Engineering per well Booking Structure Freehold Royalties Based on 40/bbl WTI pricing, 0.70 F/X (US/CAD), WTI/Ed Light Differential 8% of WTI On-stream Capital of 725,000 per well Well Proved + Proved + Spacing 90 Day…
  30. February 2016 Investor Presentation – Raging River Exploration Inc. – slide 30
    Historic Operational Excellence Q3/15 Q2/15 Q1/15 Q4/14 Q3/14 Q2/14 Q1/14 Q4/13 Q3/13 Q2/13 Q1/13 Q4/12 Financial (thousands of dollars except share data) Funds Flow from Operations 43,630 49,535 33,480 57,704 57,850 56,283 49,813…

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