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Annual General Meeting – Southern Pacific Resources

Southern Pacific Resources · Nov 30, 2013 · 21 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. Annual General Meeting – Southern Pacific Resources – slide 1
    ANNUAL GENERAL MEETING November 2013
  2. Annual General Meeting – Southern Pacific Resources – slide 2
    STRATEGIC ASSETS Alberta: 338 sections of oil sands leases with 89% average working interest (216,064 acres), 1,850 barrels per day (bbl/d) of bitumen over past quarter Saskatchewan: Average of 2,900 bbl/d over past quarter, 100%…
  3. Annual General Meeting – Southern Pacific Resources – slide 3
    STP RESERVES AND RESOURCES (EFFECTIVE JUNE 30, 2013) 400.0 383 Consistent growth in all reserve categories over the past 3 years. 350.0 276 300.0 Reserves are assigned only to Liquids (mmbbl) 2009 250.0 2010 STP-Senlac and…
  4. Annual General Meeting – Southern Pacific Resources – slide 4
    STP-SENLAC THERMAL PROJECT Phase L estimated to spud in calendar Q1 2014 100% STP owned and operated for 4 years Average FQ1/14 Production Rate 2,900 bbl/d Average SOR = 2.9 Experienced operations personnel One pad of 2-3…
  5. Annual General Meeting – Southern Pacific Resources – slide 5
    STP-SENLAC PRODUCTION HISTORY 3,500 3,000 Average Monthly Oil (bbl/d) 2,500 2,000 1,500 1,000 500 0 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 5
  6. Annual General Meeting – Southern Pacific Resources – slide 6
    STP-SENLAC STRONG NETBACKS 120.00 100.00 80.00 Heavy Diff Quality/Trans. 60.00 Diluent Royalties Fuel & Power 40.00 Fixed Opex Operating Netback WTI (C/bbl) 20.00 41.62 41.27 36.63 37.40 37.94 37.45 48.34…
  7. Annual General Meeting – Southern Pacific Resources – slide 7
    STP-MCKAY THERMAL PROJECT 45 km NW Ft. McMurray 10.5 section project area 100% STP working interest Phase 1 Design: 12,000 bbl/d oil +37,400 bbl/d steam Phase 1 Expansion (6,000 bbl/d) and Phase 2 (18,000 bbl/d) are in…
  8. Annual General Meeting – Southern Pacific Resources – slide 8
    STP-MCKAY CENTRAL PROCESS FACILITY Facility continues to run well On Time Load Factor since July 1, 2012 is greater than 99% Generating all electrical power through 2 cogens, a 3rd on standby Entire water system (treatment, recycle,…
  9. Annual General Meeting – Southern Pacific Resources – slide 9
    STP-MCKAY PRODUCTION HISTORY 2,500 10.0 9.0 2,000 8.0 Average Monthly Bitumen (bbl/d) 7.0 1,500 6.0 SOR 5.0 1,000 4.0 3.0 500 2.0 First Steam 1.0 0 0.0 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13…
  10. Annual General Meeting – Southern Pacific Resources – slide 10
    SAGD START-UP PHASES Circulation Circulation Semi-SAGD SAGD mainly conductive heat, communication steam injection in top steam injection in steam is circulated established well (convective heat), top well, bottom through wellbore,…
  11. Annual General Meeting – Southern Pacific Resources – slide 11
    STP-MCKAY THERMAL PROJECT WELL LAYOUT 11
  12. Annual General Meeting – Southern Pacific Resources – slide 12
    PRODUCTION BY PAD/PAIR Total Bitumen by Pair - Pad 101 Total Bitumen by Pair - Pad 102 2,000 2,000 1,800 1,800 1,600 1,600 1,400 1,400 1,200 1,200 bbl/d bbl/d 1,000 1,000 800 800 600 600 400 400 200 200 0 0…
  13. Annual General Meeting – Southern Pacific Resources – slide 13
    STP-MCKAY U.S. GULF COAST RAIL MARKET STRATEGY 5 year deal started Jan. 1, 2013 4,500 km by rail Terminals in Lynton, AB, and Natchez, MS Reduces diluent requirements Improved netbacks Secure access to market Access to US Gulf…
  14. Annual General Meeting – Southern Pacific Resources – slide 14
    STP-MCKAY GROWTH: PHASE 1 AND 2 LAYOUT Well pads Phase 2 18,000 bbl/d SOR = 3.5 Phase 1 + Expansion 18,000 bbl/d SOR = 2.8 Continuous pay fairway STP-McKay Phases 1 and 2 will have very similar facilities, each with…
  15. Annual General Meeting – Southern Pacific Resources – slide 15
    STP-MCKAY PHASE 1 EXPANSION AND PHASE 2 TIMING Phase 1 Expansion Phase 2 Timing for Phase 2 is based on utilizing one SAGD drilling rig working year round 15
  16. Annual General Meeting – Southern Pacific Resources – slide 16
    STP-MCKAY: FUTURE UPSIDE STP-McKay Thermal Project boundary 100% working interest in 59 sections Phase 1 Phase 2 STP has full-time operations in this area Other operators in area Under-explored, needs more work currently…
  17. Annual General Meeting – Southern Pacific Resources – slide 17
    STPS UPSIDE: ADDITIONAL OIL SANDS LEASES Anzac Red Earth 14 coreholes Ells CSS Pilot Project 15 coreholes 2D seismic, ERT (currently shut-in) 56 Sections 2D seismic 135 Sections 50 Sections STP 100% STP 80% STP 20%…
  18. Annual General Meeting – Southern Pacific Resources – slide 18
    FISCAL 2014: AN EXCITING YEAR AHEAD Only new SAGD Project started up in Alberta for 2012 STP-McKay Thermal Continued ramp up of wells Project Continue to streamline plant efficiency Start up operations and logistics for rail marketing…
  19. Annual General Meeting – Southern Pacific Resources – slide 19
    BOARD OF DIRECTORS Name Title Experience David Antony Chairman 15 years of experience assisting companies in structuring transactions, accessing capital and corporate governance Currently also a director of Blackhawk Resource Corp.,…
  20. Annual General Meeting – Southern Pacific Resources – slide 20
    THANK YOU Staff: Calgary, Senlac and McKay Stakeholders: Investors, Lenders, Neighbors Business Partners: Banks, Auditors, Reserves Evaluators, Insurers 20
  21. Annual General Meeting – Southern Pacific Resources – slide 21
    CONTACT For more information: Southern Pacific Resource Corp. Byron Lutes, President & CEO blutesshpacific.com Suite 1700, 205 - 5th Ave. SW Calgary, AB T2P 2V7 Phone: 403-269-5243 Fax: 403-269-5273 Ron Clarke, COO…

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