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November 2017 Corporate Presentation – Granite Oil Corp

Granite Oil Corp · Nov 6, 2017 · 32 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. November 2017 Corporate Presentation – Granite Oil Corp – slide 1
    November 2017
  2. November 2017 Corporate Presentation – Granite Oil Corp – slide 2
    Market Facts Trading Symbols TSX GXO OTCQX GXOCF Monthly Dividend Per Share () 0.035 Financial Highlights Market Capitalization (MM) As at closing 11/9/2017 120.7 Credit Facility (MM) 60 Net Debt (MM)* 36.9 Net Debt :…
  3. November 2017 Corporate Presentation – Granite Oil Corp – slide 3
    Granite Strategy Focus on creating long term shareholder value and returns from a top tier oil resource How Organically ourselves 100% ownership in everything Maximize oil recovery Under a full-scale, highly effective and proven…
  4. November 2017 Corporate Presentation – Granite Oil Corp – slide 4
    Granite Asset Top-Tier Oil Asset Company-estimated 200 million barrels of conventional original oil in place (OOIP)(2) under full scale Gas Injection Enhanced Oil Recovery (EOR) Scheme with a large, high-impact drilling…
  5. November 2017 Corporate Presentation – Granite Oil Corp – slide 5
    Maximizing Shareholder Value and Returns Development & Measured Growth Production Maintenance & Capital Wind Down to Low Decline 3,500 25.0 3,000 Average Daily Production (boe/d) 20.0 2,500 Free Cash Flow (MM) 15.0…
  6. November 2017 Corporate Presentation – Granite Oil Corp – slide 6
    Deep Drilling Inventory 200 m Spacing LEGEND Gas Injection Well Producing Oil Well Potential Future Gas Injector Future Drilling Location Existing EOR Approval Area Future EOR Expansion Area Capital Per Well Total…
  7. November 2017 Corporate Presentation – Granite Oil Corp – slide 7
    Relentless Cost Reductions Engineering-Driven and Permanent 2014 2015 2016 2017 6.00 Avg = 3.72 MM Avg = 2.67 MM Avg = 1.36 MM Avg = est. 1.35 MM 5.00 Drilling and Completion Cost (MM) 4.00 3.00 2.00…
  8. November 2017 Corporate Presentation – Granite Oil Corp – slide 8
    Original EOR Area Case Study: Figuring it Out Before Drilling it Up EOR Expansion & Full-Scale Development / Recovery 5.0 1800 Infill Development 4.5 1600 Pilot EOR 4.0 1400 Primary Decline 3.5 EOR 2.5 Section Case Study…
  9. November 2017 Corporate Presentation – Granite Oil Corp – slide 9
    Improving Capital Efficiency BAKKEN PRODUCTION, CAPITAL INPUT AND TOTAL LATERAL METERS DRILLED Capital Decrease 78% 4500 75,000 Lateral Drilling Meterage Decrease 71% 80000 4000 70000 Total Bakken Production (bbl/d)…
  10. November 2017 Corporate Presentation – Granite Oil Corp – slide 10
    Improved Recovery with Gas Injection EOR Historical Bakken Producing Wells EOR Non-EOR Average Well Average Well Number of Wells 15 40 Average Horizontal Well Length (m) 1283 2521 EUR (mbbl) 234 190 Barrels Per Horizontal Meter…
  11. November 2017 Corporate Presentation – Granite Oil Corp – slide 11
    Dropping the Cost of Adding Producing Barrels 30.00 26.13 24.33 25.00 19.45 D & C Capex per Barrel of Booked 20.00 21.29 19.37 Reserves (/bbl) (5) 15.00 16.23 13.60 9.98 10.00 11.29 8.44 5.00 PDP…
  12. November 2017 Corporate Presentation – Granite Oil Corp – slide 12
    2014 2015 2016 Improving Efficiencies Average Total Capex per Well (MM) 3.7 2.67 1.36 Increased Recovery and Lower Capital Average WTI (USD/bbl) 93 49 42 Operating Netback (CAD/bbl) 44.64 24.73 20.74 EUR (mbbl) 268 238 196 600…
  13. November 2017 Corporate Presentation – Granite Oil Corp – slide 13
    Continuing to Improve 2016 Wells TYPE WELL ECONOMICS (4) All-In Capex: 1.25 MM EUR (TPP): 196 mbbls 500 Capital Efficiency IP365 : 11,000/bbl Horizontal Length: 1,100 m Year One Average: 108 bbl/d Royalty: FH Sliding 5-30% 450…
  14. November 2017 Corporate Presentation – Granite Oil Corp – slide 14
    Summarizing Organic Improvement 60 300 25.0 54 262 D & C Capex per Barrel of Booked Reserves (/bbl) (5) 250 50 250 20.0 Capex Per Meter Drilled & Completed (/m) Recovery per Meter Drilled (bbl/m) Operating Cost Per…
  15. November 2017 Corporate Presentation – Granite Oil Corp – slide 15
    Expanding Inventory of Development/Exploration Opportunities Finding the Next One A Growing Pool with Significant Exploration Potential: Acquired 50,000 net acres of additional strategic Bakken lands in 2016 3 mm/year of high…
  16. November 2017 Corporate Presentation – Granite Oil Corp – slide 16
    Gas Injection Enhanced Oil Recovery
  17. November 2017 Corporate Presentation – Granite Oil Corp – slide 17
    Maximizing Recovery and Capital Efficiency Produced gas is re-injected into the oil reservoir to replace production voidage and provide pressure support for producing oil wells Gas injection is the ideal EOR method for Granites…
  18. November 2017 Corporate Presentation – Granite Oil Corp – slide 18
    Gas Injection EOR Process Dry Make-up Gas Future Gas Plant Compressor (C5+ Removal) Separator Produced Gas Compressed Gas Re-injected Oil to Sales 25% CO2 Produced Oil + Gas AB Bakken Granite Bakken EOR Basics Injecting…
  19. November 2017 Corporate Presentation – Granite Oil Corp – slide 19
    Original EOR Wells Reaching Low Decline at Significant Rates 300 250 Average EOR Well 200 Oil Production (bbl/d) 150 100 Development Plan Type Well (4) 50 40 bbl/d 0 1 31 61 91 121 151 181 211 241 271 301…
  20. November 2017 Corporate Presentation – Granite Oil Corp – slide 20
    EOR Case Study Example: Proving the Most Efficient Drainage 200 12000.00 10000.00 150 8000.00 Oil Production (bbl/d) 100 6000.00 4000.00 50 2000.00 0 0.00 0 50 100 150 200 250 300 350 400 450 500 550 600…
  21. November 2017 Corporate Presentation – Granite Oil Corp – slide 21
    EOR Case Study Example: Optimizing Gas Injection 250 7,000 6,000 200 5,000 Oil Production (bbl/d) 150 4,000 3,000 100 2,000 50 1,000 0 0 0 50 100 150 200 250 300 350 Days on Production…
  22. November 2017 Corporate Presentation – Granite Oil Corp – slide 22
    EOR-Focused Development Plan POD 1 OOIP2 = 56 MMbbl Focus of development activity for past 2 years POD 4 OOIP2 = 55 MMbbl EOR-focused development yet to start POD 3 POD 2 OOIP2 = 41 MMbbl OOIP2 = 32 MMbbl EOR-focused…
  23. November 2017 Corporate Presentation – Granite Oil Corp – slide 23
    Gas Injection Upside in an Undersaturated Reservoir Alaska Swanson River Oil Pool Analog Discovered in 1957 Gas injection pilot program started in 1962 in response to rapid pressure declines Field-wide injection commenced in 1966…
  24. November 2017 Corporate Presentation – Granite Oil Corp – slide 24
    Why Granite Large oil asset, early in its life cycle, discovered and developed by us for the long term from day one Built to provide returns to shareholders through commodity cycles Low price environment: Highly efficient free…
  25. November 2017 Corporate Presentation – Granite Oil Corp – slide 25
    The Team
  26. November 2017 Corporate Presentation – Granite Oil Corp – slide 26
    Granite Oil Corp.s Team Management Team Michael Kabanuk President and Chief Executive Officer Michael is a Professional Engineer with 23 years of engineering and management experience in the oil and natural gas industry. Prior to…
  27. November 2017 Corporate Presentation – Granite Oil Corp – slide 27
    Granite Oil Corp.s Team Board of Directors Brendan Carrigy Chair Kevin Andrus Martin Cheyne Michael Kabanuk Henry Hamm Bradley Porter Kathy Turgeon G R A N I T E O I L C O R P. T S X : G X O 28
  28. November 2017 Corporate Presentation – Granite Oil Corp – slide 28
    Contact Information Investor Inquiries: Michael Kabanuk President and CEO Office: 587.349.9123 mkabanukgraniteoil.ca Tyler Klatt Vice President, Exploration Office: 587.349.9125 tklattgraniteoil.ca Address: Jamieson Place 3230, 308…
  29. November 2017 Corporate Presentation – Granite Oil Corp – slide 29
    Appendix
  30. November 2017 Corporate Presentation – Granite Oil Corp – slide 30
    Capital Budget 2017 Guidance 2017 NET CAPEX (MM CAD) 16.3 2017 Production (boe/d) 2750 Monthly Dividend Per Share (CAD) 0.035 Exit Net Debt (MM CAD) 37.0 G R A N I T E O I L C O R P. T S X : G X O 32
  31. November 2017 Corporate Presentation – Granite Oil Corp – slide 31
    Hedges / Tax Pools 1,200 100 1,000 TAX POOL CATEGORY AMOUNT (MM) 80 COGPE 0.5 Production Hedged (Bbl/d) 800 CDE 123 Hedge Prices (US/BBl) 60 CEE 2.9 52.23 52.23 52.33 51.38 52.90 52.90 600 UCC 13.5 NCL 38.7…
  32. November 2017 Corporate Presentation – Granite Oil Corp – slide 32
    Responsible and Efficient Operator Produced solution gas containing 25% CO2 is recycled and reinjected into the reservoir, diverting an estimated 18,900 tons of CO2 from CO2 the atmosphere per year - improving oil recovery…

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