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March 2018 Investor Presentation – Granite Oil Corp

Granite Oil Corp · Mar 7, 2018 · 27 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. March 2018 Investor Presentation – Granite Oil Corp – slide 1
    March 2018
  2. March 2018 Investor Presentation – Granite Oil Corp – slide 2
    Market Facts Trading Symbols TSX GXO OTCQX GXOCF Monthly Dividend Per Share () 0.023 Financial Highlights Market Capitalization (MM) As at closing 03/6/2017 81 Credit Facility (MM) 50 Net Debt (MM)* 39.8 Net Debt : Annualized…
  3. March 2018 Investor 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. March 2018 Investor 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. March 2018 Investor Presentation – Granite Oil Corp – slide 5
    Deep Drilling Inventory 200 m Spacing Capital Per Well Total Capital LEGEND Gas Injection Well Number MM MM Producing Oil Well Future wells - drill, complete*(3) 86 1.5 129 Potential Future Gas Injector Potential future…
  6. March 2018 Investor Presentation – Granite Oil Corp – slide 6
    Reducing Costs Engineering-Driven and Permanent 2014 2015 2016 2017 6.00 Avg = 3.72 MM Avg = 2.67 MM Avg = 1.36 MM Avg = 1.35 MM 5.00 Drilling and Completion Cost (MM) 4.00 3.00 2.00 1.00 0.00
  7. March 2018 Investor Presentation – Granite Oil Corp – slide 7
    Historical Drilling Results Building the most Efficient Development Formula 300 First two wells since returning to 200 m Spacing YEAR AVG. HZ SPACING Average IP30 = 270 bbl/d 250 2015 400 2016 200 Production (bbl/d) 200…
  8. March 2018 Investor Presentation – Granite Oil Corp – slide 8
    Improving Capital Efficiency 5,000 120,000 Total Capital Investment (M) Total Lateral Meters Drilled Oil Production (bbl/d) Capital Decrease 82% 100,000 101,000 4,000 91,000 Lateral Drilling Meterage Decrease…
  9. March 2018 Investor Presentation – Granite Oil Corp – slide 9
    2017 Production Reduced-Spacing Tests FERGUSON OIL PRODUCTION 3500 Drill Testing 100 m Offset Spacing Stop Drilling Recommence Drilling at 200 m Offset Spacing 3000 4.5 months 2500 Injector Oil Production bbl/d Conversion…
  10. March 2018 Investor Presentation – Granite Oil Corp – slide 10
    Type Well Economics TYPE WELL ECONOMICS (4) 300 All-In Capex: 1.5 MM EUR (TPP): 190 mbbls Capital Efficiency IP365 : 12,500/bbl Horizontal Length: 2000 m Year One Average: 122 bbl/d Royalty: FH Sliding 5-30% WTI/WCS 250 WTI FX…
  11. March 2018 Investor Presentation – Granite Oil Corp – slide 11
    Expanding Inventory of Development/Exploration Opportunities Finding the Next One LEGEND Granite Land Gas Injection Well Producing Well Exploration Target Area G R A N I T E O I L C O R P. T S X : G X O 12
  12. March 2018 Investor Presentation – Granite Oil Corp – slide 12
    Gas Injection Enhanced Oil Recovery
  13. March 2018 Investor Presentation – Granite Oil Corp – slide 13
    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…
  14. March 2018 Investor Presentation – Granite Oil Corp – slide 14
    Gas Injection EOR Process Future Gas Plant Make-up Gas Compressor (C5+ Removal) Separator Produced Gas Compressed Gas Re- injected Oil to Sales 25% CO2 Produced Oil + Gas Gas Injection EOR Process Produced gas is…
  15. March 2018 Investor Presentation – Granite Oil Corp – slide 15
    EOR Case Study Example: Proving the Most Efficient Drainage 200 12,000 10,000 150 Injection Volume (mcf/d) 8,000 Oil Production (bbl/d) 100 6,000 4,000 50 2,000 0 0 0 50 100 150 200 250 300 350 400 450…
  16. March 2018 Investor Presentation – Granite Oil Corp – slide 16
    EOR Case Study Example: Optimizing Gas Injection 250 7,000 6,000 200 5,000 Oil Production (bbl/d) Injection Volume (mcf/d) 150 4,000 3,000 100 2,000 50 1,000 0 0 0 50 100 150 200 250 300 350 Days On…
  17. March 2018 Investor Presentation – Granite Oil Corp – slide 17
    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…
  18. March 2018 Investor Presentation – Granite Oil Corp – slide 18
    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…
  19. March 2018 Investor Presentation – Granite Oil Corp – slide 19
    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…
  20. March 2018 Investor Presentation – Granite Oil Corp – slide 20
    The Team
  21. March 2018 Investor Presentation – Granite Oil Corp – slide 21
    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…
  22. March 2018 Investor Presentation – Granite Oil Corp – slide 22
    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 23
  23. March 2018 Investor Presentation – Granite Oil Corp – slide 23
    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…
  24. March 2018 Investor Presentation – Granite Oil Corp – slide 24
    Appendix
  25. March 2018 Investor Presentation – Granite Oil Corp – slide 25
    Capital Budget 2018 Guidance 2018 NET CAPEX (MM CAD) 13.0 2018 Production (boe/d) 2600 Monthly Dividend Per Share (CAD) 0.023 Exit Net Debt (MM CAD) 39 G R A N I T E O I L C O R P. T S X : G X O 27
  26. March 2018 Investor Presentation – Granite Oil Corp – slide 26
    Hedges / Tax Pools 1,400 1,200 1,400 100 100 1,200 1,200 1,000 TAX POOL CATEGORY AMOUNT (MM) Production Production 80 COGPE 0.7 80 72.77 73.90 72.77 73.90 1,000 1,000 72.18 70.74 72.18 Hedge Prices (/Bbl)…
  27. March 2018 Investor Presentation – Granite Oil Corp – slide 27
    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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