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October 2018 Corporate Presentation – Granite Oil Corp

Granite Oil Corp · Oct 30, 2018 · 17 slides

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Slides

  1. October 2018 Corporate Presentation – Granite Oil Corp – slide 1
    October 2018
  2. October 2018 Corporate Presentation – Granite Oil Corp – slide 2
    MARKET FACTS Trading Symbols TSX GXO OTCQX GXOCF Monthly Dividend Per Share () 0.01 Financial Highlights Market Capitalization (MM) As at closing 10/30/2018 54 Credit Facility (MM) 50 Net Debt (MM)* 47.1 *As at Q3 Unaudited…
  3. October 2018 Corporate Presentation – Granite Oil Corp – slide 3
    WHOLLY OWNED, PURE PLAY, CONCENTRATED, LARGE OIL RESOURCE Large Alberta Bakken Oil Pool in a 30 mile, 80 section 100/14-21-003-16W4 oil fairway T10 Bakken Up To: GXO Upper Bakken Sand 14 m Thick 100% ownership and no competitive…
  4. October 2018 Corporate Presentation – Granite Oil Corp – slide 4
    HISTORICAL DRILLING AND RESERVE RESULTS WELL PERFORMANCE SINCE 2015 TESTING INFILL SPACING AND BUILDING A FORMULA 600 2018 Well - 400 m spacing Oil Production (bbl/d) 500 400 2018 Average 300 2018 Well - 200 m spacing 200…
  5. October 2018 Corporate Presentation – Granite Oil Corp – slide 5
    DEVELOPING AN EARLY LIFE CYCLE POOL TO MAXIMIZE RETURNS HISTORICAL PRODUCTION AND CAPITAL EFFICIENCY SUCCESS 101,000 6000 120,000 91,000 84,000 5000 100,000 Total Capital Investment (M) Total Lateral Meters Drilled…
  6. October 2018 Corporate Presentation – Granite Oil Corp – slide 6
    GAS INJECTION EOR PROCESS GRANITE BAKKEN EOR BASICS Injecting gas in the top of the reservoir Increases/maintains reservoir pressure Adding gas to undersaturated oil Decreases viscosity and increases oil mobility Keeping the CO2 in…
  7. October 2018 Corporate Presentation – Granite Oil Corp – slide 7
    Recovery Factor (%) *Sproule Oil Production (mbbl/d) Oil Production (mbbl/d) Gas Production G R A2012 20% 40% 60% 80% 100% 0% (mmcf/d) Gas Production (mmcf/d) Injected Injected (mmcf/d) Gas(mmcf/d) Gas…
  8. October 2018 Corporate Presentation – Granite Oil Corp – slide 8
    TOP TIER WELL ECONOMICS 400 TYPE CURVE ECONOMICS SUMMARY(4) 350 300 Oil Production (bbl/d) Average Payout 0.7 years 250 Internal GXO 2500-3000m Average NPV 10% BT 3.96 m 200 Historical Performance 2500-3000m (27 Wells) Average…
  9. October 2018 Corporate Presentation – Granite Oil Corp – slide 9
    SIGNIFICANT DRILLING INVENTORY GO-FORWARD DEVELOPMENT PLAN LONG-TERM, SLOW GROWTH MODEL 85 potential Bakken well locations on 200 m offset spacing(3) Drilling 5 wells per year allows for 16 years of future development LEGEND…
  10. October 2018 Corporate Presentation – Granite Oil Corp – slide 10
    DEVELOPMENT OUTLOOK 3,000 30 Production (boe/d) 25 Average Daily Capex (MM) 2,000 20 15 1,000 10 5 0 0 2019 2020 2021 2022 2023 Producti on (bbl /d) 1,914 2,196 2,232 2,249 2,268 WTI (USD) 67.43 65.11 62.09…
  11. October 2018 Corporate Presentation – Granite Oil Corp – slide 11
    SUMMARY Large Oil-in-Place 33 section delineated oil pool in a 30 mile, 80 section oil fairway Early Life Cycle Only recovered 2.2% to date(2) Efficient Recovery Formula 228 MMbbls of OOIP(1) under an effective gas injection…
  12. October 2018 Corporate Presentation – Granite Oil Corp – slide 12
    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…
  13. October 2018 Corporate Presentation – Granite Oil Corp – slide 13
    ENDNOTES 1. This estimate of Original Oil-in-Place (OOIP) was internally generated by management for the area currently approved by the Alberta Energy Regulator for Enhanced Oil Recovery by Gas Injection as well as the areas defined…
  14. October 2018 Corporate Presentation – Granite Oil Corp – slide 14
    Appendix
  15. October 2018 Corporate Presentation – Granite Oil Corp – slide 15
    CAPITAL BUDGET 2H 2018 Guidance 2H 2018 Net Capex (MM CAD) 1.5-3.5 2H 2018 Production (boe/d) 1900-2100 Monthly Dividend Per Share (CAD) 0.01 Exit Net Debt (MM CAD) 47-49 G R A N I T E O I L C O R P. T S X : G X O 16
  16. October 2018 Corporate Presentation – Granite Oil Corp – slide 16
    HEDGES / TAX POOLS 1,400 100 85.86 85.48 86.53 90 1,200 74.94 74.94 80 TAX POOL CATEGORY AMOUNT (MM) 69.20 1,000 65.72 70 COGPE 0.6 Hedged Volumes (bbl/d) Hedge Prices (/bbl) 55.09 55.09 60 CDE 89.6 800 CEE 1.6 50 UCC…
  17. October 2018 Corporate Presentation – Granite Oil Corp – slide 17
    RESPONSIBLE 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 Reduced Emissions…

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