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August 2016 Corporate Presentation – Spartan Energy Corp.

Spartan Energy Corp. · Aug 3, 2016 · 34 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. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 1
    SPARTAN ENERGY CORP. Corporate Presentation August 2016
  2. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 2
    Checklist for Success Spartan has a deep inventory of highly economic drilling prospects. 1,441 (1,168 net) drilling locations in Sask, the majority of which are economic at WTI US30.00 Spartan is financially sound and can weather a…
  3. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 3
    Light Oil With Geographic Focus West Central Top tier netback light oil Saskatchewan Repeatable, low risk drilling 190 net drilling locations Southeast Conventional Mississippian and Saskatchewan frac Midale light oil plays…
  4. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 4
    Company Snapshot Stock symbol SPE - TSX Market capitalization (basic August 24, 2016) 1.19 billion Enterprise value (diluted August 24, 2016)(1) 1.33 billion Average Production (Q2 2016)(2) 9,080 boe/d Oil & liquids weighting 92%…
  5. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 5
    SE Saskatchewan Asset Base Open Hole HZ Mississippian & Midale Frac HZ Light Oil Plays 278,000 net acres (54% Crown) Ownership & Control of Producing Infrastructure G. Wordsworth Significant 3D Seismic Coverage Frob-Alida Top…
  6. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 6
    2016 Acquisitions Consolidating in SE Sask. Spartan has maintained a disciplined approach to acquisitions, seeking out opportunities that add high quality, complementary assets at an attractive valuation Completed four accretive…
  7. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 7
    2016 Acquisitions Complementary Land Position 7
  8. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 8
    Wyatt + Kinwest Acquisitions Consolidation of frac-Midale play at Pinto and Alameda 1,780 boe/d (80% oil and NGL). 74.2 net sections of land including extensive contiguous block at Alameda. Alameda pool has large oil in place…
  9. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 9
    Corning-Manor Acquisition 1,500 boe/d (99% oil). Low decline production (12% annual decline rate). 100 net sections of land complementary to SPE existing land base. 1,141 km2 of proprietary 3D seismic and 547 km of 2D…
  10. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 10
    Winmore Acquisition 150 boe/d (100% light oil). 16.6 net sections of land contiguous with SPEs core Winmore property. Wells drilled to date in the greater Workman/Winmore area have significantly outperformed SPE type…
  11. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 11
    Spartan Drilling Locations CORE AREA FORMATION WI LOCATIONS (%) (Gross) (Net) GREATER QUEENSDALE Frobisher/Alida 80% 269 213 GREATER WORDSWORTH Frobisher/Alida 73% 127 93 GREATER CANTAL Frobisher/Alida 75% 92 69 GREATER WORKMAN/WINMORE…
  12. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 12
    SE Sask Open Hole Well Rates of Return 500% 400% 300% Rate of Return 200% 100% 0% 40 50 60 70 WTI Oil Price (US/bbl) Notes: (1) Constant pricing for the life of the well. (2) Type wells are internally…
  13. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 13
    Open Hole Type Well Economics (Tier 1) Tier 1 Open Hole Frobisher Type Well (Crown) WTI(1) FX Realized Price (2) IP30 EUR NPV BT10 IRR (BT) Payout (US/bbl) USD/CAD (Cdn/bbl) (bbl/d) (mboes) (M) (%) (Years) 40.00 0.74 45.73 109 75…
  14. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 14
    Open Hole Type Well Economics (Tier 2) Tier 2 Open Hole Frobisher Type Well (Crown) WTI(1) FX Realized Price (2) IP30 EUR NPV BT10 IRR (BT) Payout (US/bbl) USD/CAD (Cdn/bbl) (bbl/d) (mboes) (M) (%) (Years) 40.00 0.74 45.73 60 55…
  15. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 15
    SE Saskatchewan Frobisher Well Performance Open Hole Frobisher/Alida Light Oil 140 120 120 100 100 80 Oil Rate bbls/d 80 Well Count 60 60 40 40 20 20 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19…
  16. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 16
    2016 Budget Highlights Spartans 2016 corporate strategy is to maintain production by spending within cash flow while preserving balance sheet strength to take advantage of acquisition opportunities 2016 capital budget of 68 million…
  17. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 17
    2016 Budget Guidance Capital 68 million Average production (boe/d) 10,700 (92% oil & liquids) Exit production (boe/d) 12,500 (89% oil & liquids) Cash flow (funds from operations) 68 million Year-end net debt 48 million Assumptions:…
  18. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 18
    Sustainable at Low Commodity Prices SPE is a safe investment in a challenged commodity price environment Able to maintain production at US40 WTI within cash flow Spartan has approximately 103 million of liquidity on its 150 million…
  19. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 19
    Analyst Coverage AltaCorp Capital Inc. (Thomas Matthews) BMO Capital Markets (Ray Kwan) Clarus Securities Inc. (Daniel Choi) CIBC World Markets Inc. (Dave Popowich) Cormark Securities Inc. (Amir Arif) Desjardins Capital Markets…
  20. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 20
    Head Office Suite 500, 850 2nd Street SW Calgary, Alberta T2P 0R8 Telephone: 403-355-8920 Facsimile: 403-355-2779 E-mail: infospartanenergy.ca www.spartanenergy.ca For Further Information Please Contact: Mr. Richard (Rick) McHardy…
  21. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 21
    APPENDIX INFORMATION
  22. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 22
    Management RICHARD (RICK) MCHARDY, B.Comm., LLB., - President & CEO 18+ years experience in M&A /securities matters and oil and gas President, CEO Spartan Oil Corp.; President, CEO Spartan Exploration Ltd.; President, Titan Exploration…
  23. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 23
    BOARD OF DIRECTORS BANKER Michael Stark National Bank Chairman Independent Businessman Don Archibald EVALUATION ENGINEERS Independent Businessman Sproule Associates Limited Reg Greenslade Independent Businessman REGISTRAR & TRANSFER…
  24. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 24
    Queensdale IP30 = 171 bbls/d IP30 = 223 bbls/d IP30 = 127 bbls/d IP30 = 294 bbls/d IP30 = 139 bbls/d IP30 = 258 bbls/d IP30 = 186 bbls/d IP30 = 178 bbls/d IP30 = 105 bbls/d IP30 = 313 bbls/d LEGEND SPE Lands IP30 =…
  25. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 25
    Greater Queensdale Open Hole Frobisher-Alida Plays Large Oil in Place = 370 MMbbls (on SPE lands only) RF to Date = 27% Analogue Pools exhibit RF 40% 5 main subcrop edge fairways Depth 1150m TVD Extensive 3D seismic…
  26. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 26
    Greater Queensdale Well Performance 60 140 50 120 100 40 Oil Rate bbls/d Well Count 80 30 60 20 40 10 20 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Months on Production…
  27. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 27
    East Workman & Winmore Well Performance Open Hole Horizontal Frobisher - Stoughton Play 250 15 14 13 200 12 11 10 150 9 Oil Rate bbls/d Well Count 8 7 100 6 5 4 50 3 2 1 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16…
  28. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 28
    Alameda Regional Cumulative Oil & Current Recovery Factors (Dec 2015) 4.5 MMbbl RF 15% ALAMEDA MIDALE: 9.9 MMbbl Large OOIP; Cum. oil produced: 2.6MMbbl 37.7 MMbbl RF 33% Recovery factor (Dec 2015): 1.3% RF 38% 31.1 MMbbl RF…
  29. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 29
    Alameda - Wyatt Midale Frac HZ Performance 700 18 16 600 14 500 IP90 CalDay Rate (bbls) 12 400 10 Wells 300 8 6 200 4 100 2 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24…
  30. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 30
    Alameda Frac Midale Type Well Economics Spartan Alameda Frac Midale Type Well (Crown) WTI(1) Cdn Realized IP30 EUR NPV BT10 IRR (BT) Payout (US/bbl) (Cdn/bbl) (bbl/d) (mboes) (M) (%) (Years) 40.00 45.00 160 160 603.5 37.3 2.0 50.00…
  31. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 31
    Alameda Waterflood Infrastructure & Performance Over 22 Million invested in a facility with capacity of 16,000 bbl/d total fluid, field headers and 75 km of emulsion 9 section waterflood simulation completed Incremental 9% RF from…
  32. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 32
    West Central Saskatchewan Frac Viking Play Large Oil in Place = 174 MMbbls (on SPE lands only) RF to Date = 3% Kerrobert Plenty Depth 600m TVD 84% average WI 246 (190 net) locations Whiteside Dodsland Lucky Hills…
  33. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 33
    Spartan Oil 269% ROI (18 months) Overview Price Event Chart Formed through the spin-out of certain Cardium assets and SE Saskatchewan assets from Spartan 6.00 June 1, 2011: Completion of Feb 21, 2012: Announcement of 15,000,000…
  34. August 2016 Corporate Presentation – Spartan Energy Corp. – slide 34
    Spartan Exploration 500% ROI (36 months) Overview Price Event Chart 4.50 2,700,000 Spartan Exploration was formed in Q1-2008 with a March 2008: 5.2MM non- April 1, 2011: Sold to Penn West for 228MM (6.00/share) brokered financing at…

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