Skip to main content April 2017 Corporate Presentation – Spartan Energy Corp. | Shale Experts
Loading...
Database
Slide Database

April 2017 Corporate Presentation – Spartan Energy Corp.

Spartan Energy Corp. · Apr 17, 2017 · 41 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. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 1
    SPARTAN ENERGY CORP. Corporate Presentation April 2017
  2. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 2
    Corporate Snapshot Stock symbol TSX : SPE Market cap / Enterprise value(1)(2) 1.4B / 1.7B Average daily volume(3) 5.7mm shares Shares outstanding 526.9mm (b) / 562.9mm (d) Insider ownership 5% (b) / 10% (d) 2017 forecast production…
  3. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 3
    Formula for Success 1) 10%-15% annual organic production per share growth within cash flow + 2) Proactively manage declines x = + 3) Prudent balance sheet management + 4) Reinvest free cash flow to supplement growth Key elements…
  4. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 4
    376,000 net acres (59% Crown) SE Saskatchewan Asset Base Ownership & control of producing infrastructure Significant 3D seismic coverage Scale and Repeatability Top tier netbacks Low decline production (24%) Strong capital…
  5. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 5
    2016 Year in Review Value Creation Spartan was able to deliver significant per share growth in an extremely challenging commodity price environment 13% production per share growth (exit 2015 to exit 2016) 32% increase in P+P reserves…
  6. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 6
    2016 Growth Through Acquisition BOE/D Land (net acres) Net Locations 25000 400000 2000 350000 20000 300000 1500 118% 146% 82% 15000 250000 200000 1000 10000 150000 100000 500 5000 50000 0 0 0 Y/E 2015 Y/E 2016 Y/E 2015 Y/E 2016…
  7. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 7
    2016 Reserves Additions SPE - December 31, 2015 SPE December 31, 2016 23% 23% 35% PUD PUD 41% PROBABLE PROBABLE PDP PDP 42% 36% Increased PDP reserves to 44.1 mmboe (55% per share increase) Increased TP reserves to 69.2…
  8. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 8
    2016 Acquisitions Taking Advantage of Opportunity 10,930 boe/d (95% oil & liquids) 223,000 net acres (60% Crown) Ownership & control of producing infrastructure Significant 3D seismic coverage Top tier netbacks Low decline…
  9. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 9
    Q4 2016 ARC Acquisition 7,500 boe/d (98% oil & liquids) Low base decline of 12% 132,000 (98,000 net) acres of land 404 net high quality drilling locations Ownership in strategic infrastructure supporting current and future volumes…
  10. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 10
    ARC SE Sask Acquisition Strategic Rationale Rare opportunity to acquire a high quality, legacy asset package in southeast Saskatchewan Positions Spartan as one of the largest light oil producing companies in Saskatchewan Maintains our…
  11. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 11
    Spartan Drilling Locations CORE AREA FORMATION WI LOCATIONS (%) (Gross) (Net) SE SASKATCHEWAN Conventional Mississippian (Open Hole) Frobisher/Alida 82% 1,469 1,206 Midale Ratcliffe Tilson/Souris Valley Unconventional tight oil…
  12. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 12
    SE Saskatchewan Frobisher Well Performance Open Hole Frobisher/Alida Light Oil Type Well Economics DCE&T (m) 725 IP90 (bopd) 82 IP365 (bopd) 55 Reserves (mbbls) 67.5 Capital Efficiency 13,182 Reserve Cost (/boe) 10.74 NPV BT10…
  13. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 13
    SE Saskatchewan Midale Type Well Economics Frac Midale Light Oil Type Well Economics DCE&T (m) 1,500 IP90 (bopd) 142 IP365 (bopd) 86 Reserves (mbbls) 114 Capital Efficiency 17,442 Reserve Cost (/boe) 13.16 NPV BT10 (mm) 2.20 -…
  14. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 14
    SE Saskatchewan Ratcliffe Type Well Open Hole Ratcliffe Light Oil R15 R14 R13W2 Type Well Economics DCE&T (m) 1,100 SPE Working Interest SPE Royalty Interest IP90 (bopd) T3 76 Oungre IP365 (bopd) 61 Reserves (mbbls) 78.2…
  15. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 15
    Torquay/Three Forks Resource Play SE Saskatchewan Unconventional Torquay Light Oil Type Well Economics Spartan currently has approximately 40 gross (31.5 DCE&T (m) 2,450 net) sections of land prospective for Torquay light oil…
  16. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 16
    Spartan Torquay Land Position Oungre and Bromhead Areas Southeast Saskatchewan R16 R15 R14 R13 R12 R11W2 SPE Working Interest SPE Royalty Interest Torquay Wells Bromhead T4 Torquay Licenses P&NG to Base Ratcliffe T3…
  17. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 17
    Waterflood & EOR Upside Spartan has identified 22 projects on Company lands that have waterflood or EOR upside Affects over 50% of existing base production Significant unbooked reserve potential Includes optimization/expansion of…
  18. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 18
    2017 Budget Highlights Spartans 2017 capital budget is designed to deliver 11% annual average production per share growth with significant free cash flow generation Portion of free cash flow of 42mm (based on budget assumptions) to…
  19. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 19
    2017 Budget Guidance Average Daily Production Crude oil and NGLs (bbl/d) 19,427 Natural gas (mcf/d) 9,920 Barrels of oil equivalent (boe/d) 21,080 Financial Cash flow (MM)(1) 187 Per share basic(1) 0.36 Development capital (MM)…
  20. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 20
    Growth And Free Cash Flow Model WTI Price (USD) 45 50 55 60 Annual Production (boe/d) 2017 21,080 21,080 21,080 21,080 2018 23,290 23,290 23,290 23,290 Annual Production Per Share Growth 2017 11% 11% 11% 11% 2018 10% 10% 10% 10%…
  21. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 21
    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…
  22. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 22
    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…
  23. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 23
    APPENDIX INFORMATION
  24. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 24
    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…
  25. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 25
    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…
  26. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 26
    Arc SE Sask Acquisition Highlights 7,500 boe/d (98% oil and liquids) in southeast Saskatchewan conventional Mississippian fairway Low base decline (12%) resulting from natural aquifer drive, active waterfloods and two world class CO2…
  27. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 27
    Arc West Package Midale, Frobisher, Ratcliffe 49,852 (42,113 net) acres (84% WI) Concentrated, contiguous land base Midale, Frobisher and Ratcliffe potential Production 3,100 boe/d Lougheed 11% decline No wells drilled in…
  28. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 28
    Arc East Package Frobisher, Alida, Midale Land: 60,044 gross/ 45,754 net acres (76% WI) The East Arc Properties consolidate Spartans position in the Frobisher/Alida fairway Production 2,100 boe/d 17% decline No wells drilled in…
  29. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 29
    ARC EOR Package Mature, Low Decline CO2 Projects 6.94892% WI in Weyburn and 15.53631% WI in Midale represent the third largest and second largest stakes respectively in the units Top tier decline of 4% across both units supports…
  30. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 30
    ARC EOR Package Upside Potential Material upside potential through expansion of CO2 projects Over 1.9 billion bbl of original-oil-in-place (OOIP) across Weyburn and Midale Units Current recovery factor of approximately 34%.…
  31. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 31
    Waterflood Illustrative Example Oungre Voluntary Unit No. 1 SPE WI = 89.346% OOIP = 90 Mmbbls Current Production = 500 bbl/d (5% decline) Base RF = 21% Ultimate RF w/ waterflood = 38% Freda Lake analogy for optimal…
  32. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 32
    Conversion of existing verticals into injectors & addition of horizontal infill wells 21% RF 38% RF 34
  33. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 33
    Waterflood Analogy Freda Lake Ratcliffe Voluntary Unit No. 1 Peak Oil in 3 years 35
  34. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 34
    Conversion of existing verticals into injectors & addition of horizontal infill wells OOIP = 90 mmbbl (Oungre unit only) 40mm development capital 15mm conversions & facility upgrades 25mm infill drilling Incremental recoverable…
  35. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 35
    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…
  36. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 36
    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…
  37. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 37
    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 Projected incremental 9%…
  38. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 38
    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…
  39. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 39
    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…
  40. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 40
    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…
  41. April 2017 Corporate Presentation – Spartan Energy Corp. – slide 41
    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…

From the store

Browse maps, data & reports in the Shale Experts store