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June 2016 Investor Presentation – Raging River Exploration Inc.

Raging River Exploration Inc. · Jun 3, 2016 · 29 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. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 1
    June 2016
  2. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 2
    RRX an Organic Growth Story 18,000 18.00 16,000 16.00 14,000 14.00 RRX Stock Price/WTI Cdn/10 RRX Production boe/d 12,000 12.00 10,000 10.00 8,000 8.00 6,000 6.00 4,000 4.00 2,000 2.00 - - Production…
  3. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 3
    Viking Light Oil 100% of Raging Rivers Assets 3 TSX: RRX
  4. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 4
    Rock Corporate Acquisition Onward Viking Light Oil Extension Mannville Heavy ONWARD Oil and Waterflood Corporate Acquisition Summary KERROBERT 109 MM Consideration 2,550 boepd (95% oil) 6,500 Mboe PDP (98% oil) 200-250 Risked…
  5. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 5
    Rock Acquisition Summary Purchase Price 109 million Production(1) 2,550 boepd Debt 67 million Light Oil 450 bbls/d 3.9 mm Shares 42 million Heavy Oil 1,950 bbls/d Gas 800 mcfd Undeveloped Land 97,000 acres Decline…
  6. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 6
    Raging River Expands Dominant Viking Position Onward Viking Light Oil Rock Acquisition Onward Viking (Kerrobert) Pool RRX Land 25 prospective sections, 100% RRX 450 bbls/d Light oil with 4 DUCs Acqn. Assets Drill 10-20 locations in…
  7. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 7
    Rock Corporate Acquisition Onward Low Decline Heavy Oil RRX Land Acqn. Assets Acquired Leases Heavy Oil Producer Viking HZ wells Onward Mannville North Onward Mannville West (1988 Discovery) (2013 Discovery) Under Waterflood…
  8. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 8
    Rock Corporate Acquisition Mantario Marengo Area Manville Heavy Oil Mantario East (1995 Discovery) Waterflood OOIP 33 MMBbls Current RF = 14% Expected RF 20% Polymer Injector Marengo (1991 Discovery) Waterflood OOIP 72 MMBbls…
  9. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 9
    Raging River Profile TSX Listed RRX Basic Shares 226.3 million(1) Dilutive Securities (strike at 8.45/share) 9.4 million(1) Fully Diluted Shares 235.7 million Insider Ownership 9.3% basic Insider Ownership 13.0% fully diluted…
  10. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 10
    Raging River All Corporate Wells Statistics Matter 1,000 RRX Wells On-Stream All Wells 60 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…
  11. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 11
    2016 Guidance January Current Guidance Guidance Oil (US WTI) 33.75 42.40 Edmonton Par (C/bbl)(1) 42.61 49.80 FFO /boe(3) 19.10 26.40 Capital 155,000 175,000 ** Does not Waterflood 3,000 7,000 incorporate Development 146,000…
  12. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 12
    2017 Growth Sensitivity 2017 2017 2017 Oil (US WTI) 45.00 50.00 60.00 Edmonton Par (C/bbl)(1) 52.66 58.50 70.21 FFO /boe(3) 27.80 32.75 41.50 Oil bbls/d 17,800 17,800 18,600 ** Does not Gas mcfd 8,500 8,500 8,800 incorporate Production…
  13. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 13
    15% Growth to Significant Free Cashflow Waterflood Model 15% Growth Model - May 4th Strip Pricing Includes 24 million per year of Waterflood Capital 2017 & Beyond 30,000 300,000 (0.29) (0.72) (1.33) (1.92) (2.70) 28,000 0.13 D/CF…
  14. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 14
    15% Growth to Significant Free Cashflow No Waterflood Model 15% Growth Model - May 4th Strip Pricing No Waterflood Model 30,000 300,000 28,000 280,000 (0.28) (0.71) (1.10) (1.61) (2.16) 26,000 D/CF D/CF D/CF D/CF D/CF 260,000…
  15. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 15
    Flat at 45/bbl Yields a 15% Growth Free Cash Flow Business 15% Growth Model - May 4th Strip Pricing Includes 24 million per year of Waterflood Capital 2017 & Beyond 30,000 300,000 0.32 0.04 (0.46) (0.95) (1.59) 28,000 0.66 D/CF D/CF…
  16. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 16
    Raging River Expands Dominant Viking Position PROVOST KERROBERT Viking Light Oil Resource Play Apache, Spur, Raging River, Rolling Hills Raging River, Whitecap, Crescent Point 6000 Drilled and Licensed HZ wells 5300 With Public…
  17. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 17
    RRX Economic Drilling Inventory RRX Risked Remaining Economic Drilling Inventory 4500 4000 3500 Tier 2 3000 of Locations Tier 3 2500 2000 Tier 4 1500 1000 Tier 5+ 500 0 45 50 60 70 Based on 0.78 F/X (US/CAD),…
  18. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 18
    What is Next Longer Laterals Technology improvements have allowed longer laterals to now become both technically and potentially economically viable Expected cost structure shows long wells to be approximately 30-50% more costly than…
  19. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 19
    Growing the Business 2016 Budget Budget is flexible in response to oil pricing Balance sheet protection remains paramount Recent equity financing solidifies balance sheet Recent equity financing allows continuous opportunistic…
  20. June 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. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 21
    RRX Funds Flow vs WTI RRX FFO vs WTI FX of 0.78 (US/CAD) Ed light Differential of 8% 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 ** Does not incorporate proposed acquisition…
  22. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 22
    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…
  23. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 23
    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…
  24. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 24
    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 -…
  25. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 25
    Waterflood Works Gleneath 140 120 100 Oil Rate (bbl/d) 80 60 40 20 0 - 60 120 180 240 300 360 420 480 540 Days On Production 30 RRX 2014 - 2 Wells RRX 2015 - 5 Wells Tier 5 Tier 7 Tier 9
  26. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 26
    Independent Engineering per well Booking Structure Crown Royalties Based on 50/bbl WTI pricing, 0.78 F/X (US/CAD), WTI/Ed Light Differential 8% of WTI On-stream Capital of 650,000 per well Well Proved + Proved + Spacing 90 Day…
  27. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 27
    Independent Engineering per well Booking Structure Freehold Royalties Based on 50/bbl WTI pricing, 0.78 F/X (US/CAD), WTI/Ed Light Differential 8% of WTI On-stream Capital of 650,000 per well Well Proved + Proved + Spacing 90 Day…
  28. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 28
    Historic Operational Excellence Q1/16 Q4/15 Q3/15 Q2/15 Q1/15 Q4/14 Q3/14 Q2/14 Q1/14 Q4/13 Q3/13 Q2/13 Financial (thousands of dollars except share data) Funds Flow from Operations 29,904 40,708 43,630 49,535 33,480 57,704 57,850…
  29. June 2016 Investor Presentation – Raging River Exploration Inc. – slide 29
    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)…

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