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May 2017 Corporate Presentation – Spartan Energy Corp.

Spartan Energy Corp. · May 31, 2017 · 25 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. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 1
    SPARTAN ENERGY CORP. Corporate Presentation May 2017
  2. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 2
    Corporate Snapshot Stock symbol TSX : SPE Market cap / Enterprise value(1)(2) 1.2B / 1.4B Average daily volume(3) 5.7mm shares Shares outstanding 526.9mm (b) / 560.7mm (d) Insider ownership 5% (b) / 10% (d) 2017 forecast production…
  3. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 3
    376,000 net acres (59% Crown) SE Saskatchewan Asset Base Ownership & control of producing infrastructure Significant 3D seismic coverage (1.1mm acres) Scale and Repeatability Top tier netbacks Low decline production (24%) Strong…
  4. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 4
    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…
  5. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 5
    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…
  6. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 6
    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…
  7. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 7
    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…
  8. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 8
    Type Well Economics (1)(2)(3)(4) AREA COST IP90 EUR NPV BT10% IRR (BT) PAYOUT (M) (Boe/d) (Mboe) (mm) (%) (years) SE Saskatchewan Frobisher 725 82 68 1.2 1.7 144 246 0.9 0.7 SE Saskatchewan - Midale 1,500 176 191 2.2 - 2.9 89 129…
  9. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 9
    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 (/bbl) 10.74 NPV BT10…
  10. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 10
    SE Saskatchewan Midale Type Well Economics Frac Midale Light Oil Type Well Economics DCE&T (m) 1,500 IP90 (boepd) 176 IP365 (boepd) 116 Reserves (mboe) 191 Capital Efficiency 17,442 Reserve Cost (/boe) 7.85 NPV BT10 (mm) 2.20 -…
  11. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 11
    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…
  12. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 12
    Torquay/Three Forks Resource Play SE Saskatchewan Unconventional Torquay Light Oil Unrisked Type Well Economics Spartan currently has approximately 45.2 gross DCE&T (m) 2,450 (34.5 net) sections of land prospective for Torquay light…
  13. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 13
    Spartan Torquay Land Position Oungre and Bromhead Areas Southeast Saskatchewan ALL PNG inc. Torquay PNG to base Ratcliffe Royalty Lands Torquay Locations Torquay Licenses WEST ALL PNG EAST To Base Ratcliffe…
  14. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 14
    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 targeting 20% - 40% secondary…
  15. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 15
    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 development…
  16. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 16
    Conversion of existing verticals into injectors & addition of horizontal infill wells 21% RF 38% RF 16
  17. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 17
    Waterflood Analogy Freda Lake Ratcliffe Voluntary Unit No. 1 Peak Oil in 3 years 17
  18. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 18
    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…
  19. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 19
    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…
  20. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 20
    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)…
  21. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 21
    Growth And Free Cash Flow Model(1) WTI Price (USD) 45 50 55 60 Capex (MM)(2) 2017 145 145 145 160 2018 153 153 153 169 Cash Flow (MM) 2017 148 187 227 266 2018 162 207 252 296 Annual Production (boe/d) 2017 21,080 21,080 21,080…
  22. May 2017 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. May 2017 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. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 24
    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…
  25. May 2017 Corporate Presentation – Spartan Energy Corp. – slide 25
    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…

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