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July 2016 Corporate Presentation – Raging River Exploration Inc.

Raging River Exploration Inc. · Jul 20, 2016 · 28 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. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 1
    July 2016
  2. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 2
    RRX Production boe/d - 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 2012-01-01 2012-04-01 2012-07-01 2012-10-01 2013-01-01 2013-04-01 2013-07-01 Production bbls/d 2013-10-01 2014-01-01…
  3. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 3
    Raging River Profile TSX Listed RRX Basic Shares outstanding 230.5 million(1) Dilutive Securities (strike at 8.76/share) 9.7 million(1) Fully Diluted Shares 240.2 million(1) Insider Ownership 9.2% basic Insider Ownership 12.9% fully…
  4. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 4
    Q2 Preview (Unaudited Estimates) (1) Q1 Q2 estimate 2016 2016 Oil (US WTI) 33.45 45.59 Edmonton Par (C/bbl)(2) 45.88 54.68 FFO /boe 19.91 29.50 Funds from Operations (000s) 29,904 43,000 Capital (000s) 37,400 63,000 Well Count 58…
  5. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 5
    Q2 Land/Production Acquisition Forgan Consolidation Consideration of 25 million Production 100 bbls/d of Viking light oil 30 net sections of Crown land 100 net Viking drilling locations remaining Closed on June 30, 2016 RRX…
  6. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 6
    2016 Revised Guidance Prior Revised H2 2016 Guidance Guidance Guidance Oil (US WTI)(2) 42.40 43.18 46.84 Edmonton Par (C/bbl)(1) 49.80 52.00 56.30 FFO /boe(3) 26.40 27.34 29.55 Capital (000s) 175,000 331,000 232,000 Acquisitions…
  7. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 7
    Viking Light Oil 100% of Raging Rivers Assets 7 TSX: RRX
  8. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 8
    Raging River Expands Dominant Viking Position PROVOST KERROBERT Apache, Spur, Raging River, Rolling Hills Raging River, Whitecap, Crescent Point, NBlizzard HOOSIER PLENTY RRX Land Spur, Raging River Raging River NAL, Teine,…
  9. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 9
    Raging River All Corporate Wells Statistics Matter 1,150 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…
  10. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 10
    2017 Growth Sensitivity 2017 2017 2017 Oil (US WTI) 45.00 50.00 55.00 Edmonton Par (C/bbl)(1) 53.94 59.94 65.93 FFO /boe(4) 27.00 32.00 37.10 Oil bbls/d 19,500 20,300 20,300 Gas mcfd 9,000 9,200 9,200 Production boepd 21,000…
  11. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 11
    15% Growth to Significant Free Cashflow Waterflood Model 15% Growth Model - July 19th Srip Pricing Includes 24 million per year of Waterflood Capital 2017 & Beyond 36,000 360,000 33,000 330,000 0.23 (0.25) (0.71) (1.29) (1.93)…
  12. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 12
    15% Growth to Significant Free Cashflow No Waterflood Model 15% Growth Model - July 19th Srip Pricing No Waterflood 36,000 360,000 33,000 330,000 Average Production boepd (91% Oil) 30,000 300,000 (0.11) (0.48) (0.89) (1.36)…
  13. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 13
    RRX Economic Drilling Inventory RRX Risked Remaining Economic Drilling Inventory Short laterals with 16 to 22 horizontal well/section spacing 4500 4000 3500 Tier 2 3000 Tier 3 of Locations 2500 Tier 4 2000 1500 Tier…
  14. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 14
    Making the Viking More Economic Improved Economics Wells PV 10 50 WTI improved from -200 k per well to + 200 k per Forgan Long vs Short Comparison 60 well Assumes 300 k (45%) Short Well Average Tier 2 incremental cost for 50 20…
  15. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 15
    Growing the Business 2016 Budget Budget is flexible in response to oil pricing Balance sheet protection remains paramount With 20 day cycle times and a vast inventory of drill ready locations capital expenditures can be adjusted…
  16. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 16
    Appendix Information
  17. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 17
    Footnotes Slide 3 1. Estimated as of July 21, 2016, proforma Rock Acquisition 2. Utilizing price of 10.44/share for RRX on July 19, 2016. 3. Utilizing estimated net well count for 2016 of 230 drills Slide 4 1. The Company has…
  18. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 18
    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,…
  19. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 19
    Drilling Density Drill Spacing at 16 wells per section OOIP(1) 10MMbbls 16 Tier 5-6 HZ wells will In high OOIP sections recover 640-800 Mbbls 16 HZ wells per section (6.4%-8% Recovery) leaves significant Reservoir modelling…
  20. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 20
    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…
  21. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 21
    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 -…
  22. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 22
    Waterflood Works Gleneath 100 90 80 70 Oil Rate (bbl/d) 60 50 40 30 20 10 0 - 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 Cum Oil (bbl) 25 2014/1/1 - 2014/12/31 (2) 2015/1/1…
  23. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 23
    Pilot Response Examples 92/08-20-031-22W3/0 91/02-28-030-20W3/0 60 10000 70 10000 92/08-20 Oil Dods 5 (40mbbl) 91/02-28 Oil Dods 5 (40mbbl) Dods 6 (50mbbl) Dods 7 (62.5mbbl) Dods 6 (50mbbl) Dods 7 (62.5mbbl) 60 50 Dods 9 (95mbbl)…
  24. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 24
    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…
  25. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 25
    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…
  26. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 26
    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…
  27. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 27
    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)…
  28. July 2016 Corporate Presentation – Raging River Exploration Inc. – slide 28
    Mantario Marengo Area Manville Heavy Oil R29 R28 R27 R26 R25W3 Mantario East (1995 Discovery) T28 Waterflood OOIP 33 MMBbls Current RF = 14% Expected RF 20% Polymer Injector Marengo (1991 Discovery) Waterflood OOIP 72…

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