Corporate Presentation June 2023 TSXV: LOU OTCQB: PSHIF
Non-Operated Asset Disposition Accelerating significant value on non-strategic, non-operated assets Overview On June 15, 2023, Lucero announced the disposition of substantially all of the Companys non-operated properties (the Non-Op…
Corporate Summary (post non-op disposition) Lucero is a Pure Play North Dakota Bakken / Three Forks Company Basic / Fully Diluted Shares Outstanding (mm) 662 / 719 10,500 boe/d1 2023E average production Market Cap (Cmm) 330 Working…
2023 Revised Capital Program US60 million capital program (previously: US70 million): Removal of US10 million of non-operated capital spending Investing in higher rate of return, lower-risk light oil opportunities across the Companys…
2023 Revised Guidance Revised Previous 2023 average production 10,500 boe/d1 11,500 boe/d1 2023 exit production 9,900 boe/d1 12,000 boe/d1 Sustainable corporate 30% 28% production decline Development inventory 30 net…
Normal Course Issuer Bid (NCIB) Opportunity to repurchase undervalued shares Post non-op disposition EV/DACF is < 2.0x Maximum repurchase of 33.1 million shares (or 5% of outstanding shares) Estimated repurchase of 33.1 million…
Sustainability & Resilience Prioritizing financial & strategic optionality in 2023 Enhancing Financial Flexibility to Capitalize on Opportunities 10,500 boe/d1 75 million < 50 WTI Annual average production (2023E) Working capital…
Proven Strategy Proven and repeatable strategy to generate value and consolidate/develop the play with a consistent approach throughout the cycle Per share growth through Long-term approach to organic development & creating shareholder…
Strategic Priorities Free cash flow with commitment to high quality assets and maintaining financial flexibility Managing a Cyclical Business Balance sheet strength is key Focus on asset quality / capital efficiencies Return of…
Ideal Asset Platform Focused, high-netback light oil North Dakota THE HEART OF THE BAKKEN PLAY Assets focused in the most prolific part of North Dakota Bakken / Three Forks with 97% of acreage held by production and development…
High Quality Acreage Sizeable drilling inventory and acreage situated in heart of the Bakken / Three Forks Bakken/Three Forks OIP (MMBo/sec) Bakken/Three Forks IP365 (bopd) North Dakota North Dakota Williams Williams Mountrail…
Significant Resource Development Stacked pay serves as a multiplier for drilling locations Reservoir Attributes Bakken Three Forks Lithology Dolomitic Siltstone and Shale Silty Dolomite and Limestone Average Depth 10,300' 10,400…
Cash Flow Engine Robust economics for a sustainable free cash flow model Single Well US70 US80 US90 Economics WTI WTI WTI DCET Capital (USmm) 8.0 8.0 8.0 IP365 (boepd) 635 635 635 Reserves (mbbl) 750 750 750 Production Adds…
Five Pillars of ESG Dedicated ESG program based on five pillar program Health & Safety Environment, Emissions spills, water use & land use Governance & Social Engagement Board Oversight & Culture 14
2022 ESG Highlights 62% Decrease in Freshwater Use Intensity 10% Decrease in total CO2e emissions due directly to grid electrification 57% Decrease in Methane Emissions Intensity 78% Lower spill intensity vs peer…
Investment Summary Positioned for Disciplined Growth Pure-Play U.S. Sustainable Experienced, Investment & Bakken/Three Forks Business Proven Team Upside World-class resource Significant free cash Strong track record of Predictable,…
Slide Notes Slide 3 1. TP Reserves and P+P Reserves refers to Total Proved Reserves and Proved + Probable Reserves, respectively, and are based on independent reserves evaluation prepared by Netherland Sewell & Associates effective Dec…
Slide Notes Slide 11 1. OIP refers to oil-in-place and is the estimated quantity of petroleum that is estimated to exist in naturally occurring accumulations. It includes that quantity of petroleum that is estimated, as of a given date,…
ADVISORY STATEMENTS Forward-looking Statements Certain information set forth in this presentation, including (among other things): Lucero's development inventory and opportunities, business plans and intentions, annual average and exit…
ADVISORY STATEMENTS, CONTINUED Analogous Information: In this presentation, Lucero has provided certain information on the production rate of a well on properties adjacent to the Company's acreage which is analogous information as defined…
ADVISORY STATEMENTS, CONTINUED Reserves Disclosures. Estimates pertaining to the Companys reserves and the net present value of future net revenue attributable thereto are based upon the independent engineering evaluation of the crude…
Loading...
