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EnerCom Conference – Laramie Energy Co.

Laramie Energy Co. · Aug 16, 2017 · 23 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. EnerCom Conference – Laramie Energy Co. – slide 1
    Laramie Energy, LLC EnerCom Conference August 16, 2017
  2. EnerCom Conference – Laramie Energy Co. – slide 2
    Laramie Energy, LLC - Introduction Laramie Energy, LLC is a Denver-based natural gas and oil development company funded by management, public, and private equity. Introduction Public Equity: Par Pacific Holdings Private Equity:…
  3. EnerCom Conference – Laramie Energy Co. – slide 3
    Laramie Energy Brief History Laramie I (2004 to 2007) Invested 210 million of equity and 180 million of bank debt in the Piceance Basin Drilled over 200 wells by ramping up to a 5-rig program Built-out the areas midstream system…
  4. EnerCom Conference – Laramie Energy Co. – slide 4
    Laramie Overview Summary Information 100% focused in Piceance Basin +1,300 operated producing wells, +400 non-operated All vertical/directional except for 2 horizontal wells Production: Net (w/ OBO) Gas: 115 MMcfd Condensate 441…
  5. EnerCom Conference – Laramie Energy Co. – slide 5
    Piceance Basin Keys for Success People Lean, experienced staff Land / Contracts High lease Net Revenue Interests (NRIs) Favorable Surface Use Agreements (surface ownership is valuable) Optionality in Gathering & Processing…
  6. EnerCom Conference – Laramie Energy Co. – slide 6
    Current Activity (July 2017) Drilling & Completions Running 2 H&P drilling rigs (4-1/2 days per well to drill/case) Running 1 full-time frac crew Running 1 workover rig for drill-outs, workovers, & P&As Surveying/permitting 16…
  7. EnerCom Conference – Laramie Energy Co. – slide 7
    Gross MMcfd - 100 110 120 130 140 150 160 170 180 10 20 30 40 50 60 70 80 90 6/1/2006 10/1/2006 2/1/2007 6/1/2007 10/1/2007 2/1/2008 DUC INVENTORY LARAMIE LEGACY OXY ACQUISITION AXIA…
  8. EnerCom Conference – Laramie Energy Co. – slide 8
    Locator Map Northwestern Colorado Laramies Core Acreage Grand Junction All of Laramies acreage is located in 3 counties: North Area Rio Blanco County Central Area Garfield County South Area Mesa County (Collbran Valley) 8
  9. EnerCom Conference – Laramie Energy Co. – slide 9
    Land Highlights 100% Piceance Basin Total Leasehold Acres: 261,523 gross, 131,536 net Net acreage is 58% Federal (BLM) and 42% fee Average NRI of 84% across leasehold acreage Total Fee Mineral Acres: 20,584 net (100% NRI) Total…
  10. EnerCom Conference – Laramie Energy Co. – slide 10
    Primary Piceance Basin Producing Formations Mesaverde Rollins Structure Map Williams Fork & Iles Formations Mancos/Niobrara Pore Pressure Basin centered gas Fluvial deposition 3,000 feet of stacked sand bars averaging 6 acres in…
  11. EnerCom Conference – Laramie Energy Co. – slide 11
    Key Geologic Positioning 1 1. .4 1. 2 4 2.4 1 1. 2 2.2 1. 2 1. 1 2 1. 1. 2 .2 2.0 1 Elevated Hydrocarbon Kitchens 2 1 2 1.8 .2 1 .6 1. 1 1.6 1 .2 2N 102W 1. 4 1.4…
  12. EnerCom Conference – Laramie Energy Co. – slide 12
    Williams Fork Formation (Primary Target) Wells directionally drilled from 3-4 acre pads Well count ranges from 16 to 24 wells/pad 12
  13. EnerCom Conference – Laramie Energy Co. – slide 13
    Current D&C Cost Structure Cost/Well Collbran Valley Cascade Creek Road & Pad (1/21) 21,400 19,000 Rig Mob (1/21) 10,700 10,700 Drill & Case 340,000 585,000 Complete 496,000 425,000 Equip 85,000 78,000 Total 953,110 1,117,700…
  14. EnerCom Conference – Laramie Energy Co. – slide 14
    Facilities Infrastructure Value Upcoming development activity will benefit from expansive in-place infrastructure Infrastructure Asset Estimated Installed Value Cost or Replacement Cost Assumptions Gas & Water Pipeline Systems 45 MM…
  15. EnerCom Conference – Laramie Energy Co. – slide 15
    Recurring LOE (TTM) LARAMIE ENERGY LLC June 2016 - May 2017 GROSS RECURRING LOE - OPERATED Monthly Cumulative JUNE 2016 - MAY 2017 (TTM) Average % % RECURRING LOE - OPERATED 1 SALT WATER DISPOSAL 356,133 20% 20% 2% 5% 2 LABOR 324,573…
  16. EnerCom Conference – Laramie Energy Co. – slide 16
    Laramie Marketing Highlights Gas ARM Energy providing gas scheduling and marketing services Currently selling bulk of gas at White River Hub to Oxy, Conoco, BP, etc. Current buyers paying: NWRox less 2.5/MMBtu or CIG plus 2/MMBtu…
  17. EnerCom Conference – Laramie Energy Co. – slide 17
    Advantaged Interstate Pipeline Takeaway Capacity & Markets Unlike the Eastern U.S., the Piceance Basin has completely unconstrained pipeline takeaway capacity due to the construction of REX and Ruby pipelines and expansions of Kern…
  18. EnerCom Conference – Laramie Energy Co. – slide 18
    Mesaverde Well Count Locations IRR at Current Strip prices ROR Count by Area 1800 1600 1400 1200 1000 800 600 400 200 0 0% 0%-5% 5%-10% 10%-15% 15%-20% 20%-25% 25%-30% 30%-35% 35%-40% 40%-45% COLLBRAN…
  19. EnerCom Conference – Laramie Energy Co. – slide 19
    Mancos Shale 2nd Largest Shale Gas Resource Base in U.S. Mancos / Niobrara Structure Map Deep structure is similar to shallower structure (Rollins) except the base of the syncline moves North Collbran Valley is situated at…
  20. EnerCom Conference – Laramie Energy Co. – slide 20
    Mancos Upside Williams Fork Formation Mancos Shale (+4000) Niobrara Section Stacked Horizontal Laterals Vertical Wellbore 2-Mile Horizontal Lateral
  21. EnerCom Conference – Laramie Energy Co. – slide 21
    Mancos Resource Play with Stacked Horizontal Potential Laramie Energy Offset By High IP/EUR H-Wells 15.3BCF 6.0BCF 7.1BCF 14.0BCF 16 BCF 6.6BCF 11.6BCF 9.3 BCF 21
  22. EnerCom Conference – Laramie Energy Co. – slide 22
    Mancos/Niobrara Horizontal Type Curve Cascade Creek and Collbran Valley offset Adjacent to Cascade Creek horizontal wells are showing the best Collbran Valley production performance Type Curve Parameters: B: 1.2 in the Basin…
  23. EnerCom Conference – Laramie Energy Co. – slide 23
    Laramie Energy Production Growth Strategy Summary Premier position in a prolific gas resource basin with the following attributes: Repeatable Competitive returns Long life Consistent results Significant running room Operating…

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