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June 2016 Presentation – Granite Oil Corp

Granite Oil Corp · Jun 16, 2016 · 32 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 Presentation – Granite Oil Corp – slide 1
  2. June 2016 Presentation – Granite Oil Corp – slide 2
    Granite: Long-term Stability and Sustainability Optimize Return Established gas injection EOR scheme driving higher recoveries and mitigating declines Low-decline, conventional oil pool 100% land and infrastructure control on…
  3. June 2016 Presentation – Granite Oil Corp – slide 3
    Market Facts TSX Symbol GXO OTCQX GXOCF Common Shares Outstanding Basic (MM) 33.0 Fully Diluted (MM) 33.6 Insider Holdings Basic (%) 23 Fully Diluted (%) 24 Financial Highlights Market Capitalization (MM) *As at closing…
  4. June 2016 Presentation – Granite Oil Corp – slide 4
    The Asset G R A N I T E O I L C O R P. T S X : G X O 5
  5. June 2016 Presentation – Granite Oil Corp – slide 5
    Granite Asset Alberta Bakken 100%-Owned facilities and TransCanada infrastructure Meter Station 100%-Owned 80 Section Oil Pool Pipeline Infrastructure 153 Drilling Locations (1) 100%-Owned Oil Battery 8,000 bbl/d 20,000…
  6. June 2016 Presentation – Granite Oil Corp – slide 6
    Granite Asset Alberta Bakken Existing Area Under Gas 2016 Planned Injection EOR Expansion 2015 Test Strat Test 100%-Owned 2012 Oil Battery Discovery 8,000 bbl/d 20,000 bbl storage 2016 West EOR Expansion Pilot 2014…
  7. June 2016 Presentation – Granite Oil Corp – slide 7
    Bakken Pool Development and Drilling Inventory PRIMARY BAKKEN DEVELOPMENT 8 Wells / Section 86 Wells WEST BAKKEN PROSPECT 4 Wells / Section 67 Wells (1)(2) G R A N I T E O I L C O R P. T S X : G X O 8
  8. June 2016 Presentation – Granite Oil Corp – slide 8
    Gas Injection Enhanced Oil Recovery G R A N I T E O I L C O R P. T S X : G X O 9
  9. June 2016 Presentation – Granite Oil Corp – slide 9
    Maximizing Recovery and Capital Efficiency Proven results from gas injection EOR scheme: Observed improvement in production decline profile in new and existing wells Produced gas is re-injected into the reservoir to manage voidage…
  10. June 2016 Presentation – Granite Oil Corp – slide 10
    Injection on Structural Highs ALBERTA BAKKEN TOP STRUCTURE Planned -1250 m 2016 Infill Gas Depth Injectors AER INJECTION APPROVAL AREA -1300 m Gas Injection on Structural Highs Supports Pressure Drive for Deeper…
  11. June 2016 Presentation – Granite Oil Corp – slide 11
    The Process Dry Make-up Gas C5+ Hydrocarbons to Compressor Sales Gas Plant Compressed Gas Dry Gas to Compressor Re-injected Separator 25% CO2 Produced Oil + Gas Oil to Sales EOR Basics Injected gas in the top of the…
  12. June 2016 Presentation – Granite Oil Corp – slide 12
    Oil Production Gas Injection Optimizing Drilling 10 m Gas Injected into the Top of the Reservoir Increases Pressure and Oil Mobility Limestone Cap Deeper Infill Production Wells Optimize Reservoir Drainage G…
  13. June 2016 Presentation – Granite Oil Corp – slide 13
    EOR Optimization in Low Commodity Price Environment 2000 HP of Gas EOR INJECTION VOLUMES AND VOIDAGE REPLACEMENT RATIO Compression 250 Equipment 120% Two Added Producing Wells 101% Converted to 100% 200 Gas Injectors…
  14. June 2016 Presentation – Granite Oil Corp – slide 14
    Results of Reaching 100% Voidage Replacement BAKKEN PRODUCTION 2000 1800 2012-2014 Drills 2015 Drills 2016 Drills Flattening Production 1600 Declines 1400 Oil Production (BBL/D) 1200 1000 800 600 400 200 0…
  15. June 2016 Presentation – Granite Oil Corp – slide 15
    EOR Approval Area Development - Ten Year Drilling and Injection Plan POOL DEVELOPMENT 42 Well PLAN - YEAR 2025 Inventory(3) Optimize EOR efficiency in the Core: on 200 m Down Spacing Re-inject 100% of produced gas from AER…
  16. June 2016 Presentation – Granite Oil Corp – slide 16
    Results Managing Declines to Maximize Value 4000 120% 3500 100% 100% 100% 100% 100% Injection/Production Voidage Replacement Ration (%) 3000 82% 80% Average Daily Production (BBL/D) 75% 2500 Production and EOR…
  17. June 2016 Presentation – Granite Oil Corp – slide 17
    EOR Modelling Recovery Potential Gas Injection Modelling Recovery Scenarios CASE 1 CASE 2 CASE 3 CASE 4 53 Producers + 3 Gas 51 Producers + 4 Gas 44 Producers + 12 Gas 37 Producers + 19 Gas Injectors Injectors Injectors Injectors…
  18. June 2016 Presentation – Granite Oil Corp – slide 18
    West Bakken Gas Injection Pilot Proposal LEGEND Granite Land Crown Land Acquisition PSK Land Acquisition PSK Option Land Agreement Gas Injection Well Producing Well G R A N I T E O I L C O R P. T S X : G X O 19
  19. June 2016 Presentation – Granite Oil Corp – slide 19
    Swanson River Oil Pool Study Gas Injection-Supported Undersaturated Oil Reservoir Discovered in Apr. 1957; Drilling development largely completed by 1963 with 55 completed wells Gas injection pilot program started in 1962 in…
  20. June 2016 Presentation – Granite Oil Corp – slide 20
    Economics G R A N I T E O I L C O R P. T S X : G X O 21
  21. June 2016 Presentation – Granite Oil Corp – slide 21
    Three-Year Business Plan Dividend + Growth 3450 3400 40.0 12.8 3350 35.0 Production (Bbl/d) 30.0 3.7 3300 25.0 3250 14.4 40.0 14.8 MM 20.0 3200 30.5 15.0 7.1 3150 10.0 14.3 12.4 12.5 3100 7.7 5.0 3050 0.0…
  22. June 2016 Presentation – Granite Oil Corp – slide 22
    Well Economics TYPE WELL DEFINITION Bakken Type Well (4) 300 All-in Well Cost: 1.8 MM EUR (TPP): 200 Mbbl 250 Capital Efficiency: 10,000 per 200 daily flowing bbl Bbl/day Year 1: 190 bbl/d average 150 Well F+D: 9.00 / bbl…
  23. June 2016 Presentation – Granite Oil Corp – slide 23
    Second-half 2016 Budget USD 50 WTI Average Production Level Oil & NGLs (bbl/d) 3200 Reserves MMBOE (Sproule P&P) December 31, 2015 17.704 Guidance 2H 2016 CAPEX (MM CAD) 7.7 2H 2016 Production (bbl/d) 3200 Monthly Dividend…
  24. June 2016 Presentation – Granite Oil Corp – slide 24
    Hedges/Tax Pools 2,000 100 1,800 TAX POOL CATEGORY AMOUNT (MM) 1,600 CDE 138.6 80 1,400 CEE 1.5 Production Hedged (Bbl/d) Hedge Prices (US/BBl)* 1,200 UCC 9.5 60 51.29 51.20 50.03 50.03 1,000 NCL 27.6 44.00…
  25. June 2016 Presentation – Granite Oil Corp – slide 25
    Driving Down Costs DRILLING AND COMPLETION COSTS 6.00 2014 2015 2016 Drilling and Completion Cost (MM) 5.00 4.00 4.09 3.00 2.67 2.00 1.73 1.00 - UWI OPERATING COSTS 10.00 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 9.00…
  26. June 2016 Presentation – Granite Oil Corp – slide 26
    Responsible and Efficient Operator Produced solution gas containing 25% CO2 is recycled and reinjected into the CO2 reservoir, diverting an estimated 18,900 tons of CO2(5) from the atmosphere per Reduced Emissions and year -…
  27. June 2016 Presentation – Granite Oil Corp – slide 27
    The Team G R A N I T E O I L C O R P. T S X : G X O 28
  28. June 2016 Presentation – Granite Oil Corp – slide 28
    Granite Oil Corp.s Team MANAGEMENT TEAM Michael Kabanuk President and Chief Executive Officer Michael is a Professional Engineer with 23 years of engineering and management experience in the oil and natural gas industry. Prior to…
  29. June 2016 Presentation – Granite Oil Corp – slide 29
    Granite Oil Corp.s Team BOARD OF DIRECTORS Brendan Carrigy Chair Kevin Andrus Martin Cheyne Michael Kabanuk Henry Hamm Dennis Nerland Bradley Porter G R A N I T E O I L C O R P. T S X : G X O 30
  30. June 2016 Presentation – Granite Oil Corp – slide 30
    APPENDIX G R A N I T E O I L C O R P. T S X : G X O 32
  31. June 2016 Presentation – Granite Oil Corp – slide 31
    Alberta Bakken Development Timeline EOR PILOT Test Secondary Recovery with gas injection EXPLORATION Design Infrastructure for MAXIMIZE RETURNS Alberta Bakken Discovery: Full-Scale Deployment Maximize Oil Recovery Reagan 1-3…
  32. June 2016 Presentation – Granite Oil Corp – slide 32
    Contact Information Investor Inquiries: Jonathan Fleming Office: 587.349.9118 jfleminggraniteoil.ca Michael Kabanuk Office: 587.349.9123 mkabanukgraniteoil.ca Address: Livingston Place South Tower 432, 222 3rd Avenue SW Calgary, AB…

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