RILEY EXPLORATION PERMIANTENGASCO Business Combinationw CONFIDENTIAL
Participants and Additional Information NO OFFER OR SOLICITATIONCOMMUNICATIONS IN THIS PRESENTATION DO NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO SUBSCRIBE FOR OR BUY ANY SECURITIES OR A SOLICITATION OF ANY VOTE…
Transaction Details On October 21, 2020 Tengasco, Inc. (Tengasco) and Riley Exploration Permian (Riley Permian) announced that they had entered into a definitive merger agreement in an all-stock transaction.Business Combination of Riley…
Strategic Rationale StrengthsLong-lived oil-weighted conventional production and reserves, provide low base decline as compared to unconventional productionHybrid growth and capital return (dividend paying)Expansive drilling inventory of…
Investment Highlights Targeting reinvestment rates of 50-60% of operating free cash flowGenerates modest growth with significant free cash flow that can be used for continued debt reduction and dividend growth Maintain Low Debt Profile,…
Performance Based Culture Culture of continuous improvement, cost controls, and value creation Net Production Per Day (Boe/d) Proved Reserves (MMBOE) Adjusted EBITDA (MM) Operating Costs Per BOE (1) (1) Operating Cost LOE + WOE +…
Proved Reserves (MBoe) Since REP commenced operations on the Champions Assets in April 2015, management has successfully executed its program, growing production from 308 Boe/d for FY16 to 7,073 Boe/d for Year to Date Fiscal 2020 Average…
Cash Margins (1)(2) Cash Operating Costs (2) Competitive Cash Margins and Operating Costs (1) Cash margin calculated as realized price, including differentials and hedges, net of gathering and transportation expense per boe less LOE,…
RILEY EXPLORATION PERMIANTENGASCO Company Overview CONFIDENTIAL
Introduction to Riley Permian Montaa Asset (1)Location: New MexicoYear Entered: 2018Net Acres(2): 18,304Gross Producing Hz Wells: 3Current Net Oil Production: 126 BOE/DUndeveloped Locations: 112 (62 net) Champions Asset (1)Location:…
Sponsor Overview Yorktown Partners Yorktown Partners LLC (Yorktown) is a private equity firm founded in 1991, based in New York City, New YorkYorktown has raised 12 private equity funds totaling over 8BNCo-investments by top-tier…
Name Title Biographical Summary Bobby Riley Chairman of the Board and Chief Executive Officer Mr. Riley has been the Chief Executive Officer of Riley Exploration Group (REG) since it was founded in 2012 and was the Chairman and Chief…
Production Growth Via the Drill Bit Primary growth driver is to increase production, reserves and cash flow via conversion of undeveloped locations into PDP through organic growth and accretive acquisitionsLow development risk due to…
Primary Asset is an Extension of Giant, Legacy Oilfields Our Champions Asset is a massive untapped continuation of the Wasson & Brahaney Field ComplexREP Producing Well Count 126 Gross (68 Net) (1)REP Undrilled Well Count 328 Gross (229…
REP Assets vs. Unconventional Resources Assessment of remaining recoverable oil in selected major oil fields of the Permian Basin, Texas and New Mexico, 2012. Source: U.S. Geological Survey. Unconventional Reservoirs Conventional…
Fiscal Year End Reserves Summary (SEC) Note: Assumes 6:1 oil to natural gas conversion ratioSEC pricing based on 12-month unweighted arithmetic average of the first-day-of-the-month price for each month in the period October 2015 through…
Primary formation targeted: San Andres86%+ liquid weighted reservesHigh-degree of well control Growing production component from 123 gross / 66 net wells (1)66 operated wells currently producingFQ320 average net production 6,629 Boe/d…
New Mexico Assets Overview (1) As of 6/30/2020 Asset Location Map Northwest Shelf New Mexico Closed acquisition of asset on May 15, 2018 with an effective date of April 1, 2018Large, contiguous 18,304 net acre position (1) representing…
Environmental, Social and Governance (ESG) Vapor Recovery Units Minimal Flaring Leak Detection & Repair CO2 Emission Reduction Water Disposal Minimized emissions by installing Vapor Recovery Units Installation of operable gas lines ahead…
Future Drivers of Value Incremental recoveries up to 40% per sectionAccelerated production, higher oil cutsNo negative impact to parent wells Feasibility study underway for a CO2 pilot project within Champions based upon performance of…
Transaction Process Anticipated symbol File Registration Statement on S-4Complete SEC review processSchedule special meeting of Tengasco stockholdersHold special meeting of Tengasco stockholdersClose mergerAt the Closing, Change…
Loading...
