DUG Permian Private Operators Panel: A Special Approach Curtis A. Newstrom President & CEO Blue Whale Energy North America Corp. (BWENA) 2 www.bluewhalena.com
Who is Blue Whale Energy North America Corporate Development team based in Houston, Texas focused on North American E&P assets Primary tasks include origination, evaluation, negotiation, 1 SOURCE due diligence and closing U.S.…
Blue Whale Energy North America Team Curtis Newstrom President & CEO Matt Lake Vice President Engineering 28 years experience 15 years experience Executive roles at Midstates Petroleum, LINN Energy Technical and corporate roles at TPH…
Returns Focused Acquisition Strategy Oil focused strategy in U.S. and Canada Returns based model Agnostic to geographic location Targeting both unconventional and conventional opportunities Transaction size: 500 million 1…
Unique Business Model Ultimate Ownership of Assets Generic Example Private Chinese Investment Public Fund Company Assets are purchased by Private Investment Fund, Transfer of then assets will be Investment Ownership transferred…
Committee on Foreign Investment in the United States (CFIUS) CFIUS is chaired by the U.S. Secretary of the Treasury and includes representatives from 16 U.S. Depts. and agencies, including Defense, State, Homeland Security and…
Composition of CFIUS
2015 BWENA Transactions Permian Focus on Cash Flow with Upside Northeastern Midland Shelf April 2015 BWENA announced the closing of a transaction with Juno Energy II for 315MM; Clearfork Waterflood in Crosby County with 7,100 acres,…
Juno Energy II Clearfork Waterflood in Crosby County Yantai Xinchaos entrance into the Permian with an active waterflood development program Transaction between Surge Energy America, LLC and Juno Energy II Closed April 2015 for…
Tall City Exploration / Plymouth Petroleum Howard & Borden Counties Active horizontal program in the most economic play in the Lower 48 Transaction between Moss Creek Resources, LLC, Tall City Exploration LLC and Plymouth Petroleum,…
Existing Structure Representative of 2015 Transactions Yantai Xinchao Blue Whale NA Surge Energy Capital Markets, etc. 1. Acquisition of US and Strategy /Oversight E&P G&A 1. Bank Relationships Canadian E&P 2. Govt Lobbying for…
Surge Operating, LLC: Company Overview Crosby County Hoople Houston, Texas HQ Borden County Moss Creek Howard County Upstream operating company, Surge Operating, LLC, formed by Blue Whale in 2015 Led by CEO…
Permian AFE Cost Reductions Drilling optimization and lower supplier costs resulted in 40% reduction to AFE costs since late 2014 Moved from 4-string to 3-string drilling design Casing costs reduced by 50% Improved drilling design…
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