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Building Sustainable Growth – Spartan Energy Corp.

Spartan Energy Corp. · Jun 30, 2014 · 20 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. Building Sustainable Growth – Spartan Energy Corp. – slide 1
    SPARTAN ENERGY CORP. BUILDING SUSTAINABLE GROWTH JUNE 2014
  2. Building Sustainable Growth – Spartan Energy Corp. – slide 2
    Company Snapshot 3 Stock symbol SPE - TSXV Market capitaliza6on(1)(2) 1.11 billion Enterprise value(1)(2) 1.22 billion Oil & liquids weigh6ng 94% Net debt(3) 63 million Credit facility 250 million 2013 Year-end…
  3. Building Sustainable Growth – Spartan Energy Corp. – slide 3
    Corporate Strategy 4 Spartans strategy is to acquire and develop high quality assets which will generate signicant free cash ow over a reasonable period of 6me. Per share growth through accre6ve acquisi6ons complemented by…
  4. Building Sustainable Growth – Spartan Energy Corp. – slide 4
    2014 Budget Guidance(1) 5 Capital 84 million Average produc6on (boe/d) 5,700 (94% oil & liquids) Exit produc6on (boe/d) 8,600 (94% oil & liquids) Cash ow (funds from opera6ons) 88 million(2) Year end net debt (es6mate) 57…
  5. Building Sustainable Growth – Spartan Energy Corp. – slide 5
    SE Sask Assets Key Areas 6 Crystal Hill SPE Land Acquired Proper6es Mair/Redvers Wordsworth Greater Queensdale Conven6onal Mississippian light oil Emerging Midale frac play Ownership and control of key…
  6. Building Sustainable Growth – Spartan Energy Corp. – slide 6
    Southeast Saskatchewan AcquisiZon 7 Transac6on Price: 98mm (eec6ve date of May 1, 2014) Produc6on: 1,000 boe/d (96% oil and liquids) Proved plus probable reserves(1): 3.95 MMBOE (96% oil and liquids) Low Decline: 18% decline on…
  7. Building Sustainable Growth – Spartan Energy Corp. – slide 7
    Dominant Land PosiZon Along Frobisher/Alida Fairway 8 SPE Land Acquired Proper6es Large OOIP; low recovery factor Large inventory of development loca6ons Average well cost 1.1mm AMrac6ve economics Strong capital…
  8. Building Sustainable Growth – Spartan Energy Corp. – slide 8
    QUEENSDALE 9 Light oil Frobisher / Alida targets Average area working interest of 81% T6 OOIP of 6 12 Mmbbl per secZon Recent drilling results (10 wells) IP30 = 195 bbl/d IP60 = 171 bbl/d IP90 = 164 bbl/d…
  9. Building Sustainable Growth – Spartan Energy Corp. – slide 9
    QUEENSDALE DRILLING RESULTS 10 IP 30 IP 60 IP 90 Days On Well WI (%) Gross Gross Gross ProducZon (bbl/d) (bbl/d) (bbl/d) 91/2-27-6-34w1 50% 237 199 170 319 91/12-27-6-34w1 80% 311 261 230 307 93/3-27-6-34w1 75% 245 205 185…
  10. Building Sustainable Growth – Spartan Energy Corp. – slide 10
    Workman / ElcoS / Florence Frobisher and Midale PotenZal 11 Workman ElcoS / Florence Workman Frobisher and Midale potenZal Low decline, long life reserves (9% historical decline) Large OOIP with a low recovery…
  11. Building Sustainable Growth – Spartan Energy Corp. – slide 11
    SE Sask Robust Economics 12 Midale Type Well(1) Frobisher Type Well (Freehold) (Crown) (Freehold) (Crown) IP30 (bopd) 120 120 60 60 EUR (Mboe) 77 (100% oil) 78 (100% oil) 61 (96% oil) 62 (96% oil) Capital (M) 2,200 2,200…
  12. Building Sustainable Growth – Spartan Energy Corp. – slide 12
    Spartan Lands: Light oil: Working 42 API 93% VIKING 13 interest: Reserves: PDP = 2.9 MMboe TP = 5.4 MMboe P+P = 6.9 MMboe OOIP 9.5 MMbbl per sec6on Loca6ons 118 gross (107 net) Drill costs 850k - 950k KERROBERT
  13. Building Sustainable Growth – Spartan Energy Corp. – slide 13
    VIKING 14 70 60 Tier 5 Tier 6 50 RPL 2011-2013 Development (128 wells) 40 Bbl/d 30 20 10 0 0 3 6 9 12 15 18 21 24 Producing Months AssumpZons Tier 4 Tier 5 Tier 6 Tier 7 Costs (M) Capital (M)…
  14. Building Sustainable Growth – Spartan Energy Corp. – slide 14
    Management 15 RICHARD (RICK) MCHARDY, B.Comm., LLB., - President & CEO 18+ years experience in M&A /securi6es maMers and oil and gas President, CEO Spartan Oil Corp., President, CEO Spartan Explora6on Ltd., President, Titan…
  15. Building Sustainable Growth – Spartan Energy Corp. – slide 15
    16 BOARD OF DIRECTORS BANKER Michael Stark Na6onal Bank Chairman Independent Businessman Don Archibald EVALUATION ENGINEERS Independent Businessman Sproule Associates Limited Reg Greenslade Independent Businessman REGISTRAR &…
  16. Building Sustainable Growth – Spartan Energy Corp. – slide 16
    Analyst Coverage 17 AltaCorp Capital Inc. Clarus SecuriZes Inc. (Daniel Choi) Dundee Capital Markets (Brian Kristjansen) FirstEnergy Capital Corp. (Cody Kwong) GMP SecuriZes LP (Stacey McDonald) Macquarie Capital…
  17. Building Sustainable Growth – Spartan Energy Corp. – slide 17
    18 Contact Informa6on Head Oce Suite 500, 850 2nd Street SW Calgary, Alberta T2P 0R8 Telephone: 403-355-8920 Facsimile: 403-355-2779 E-mail: infospartanenergy.ca
  18. Building Sustainable Growth – Spartan Energy Corp. – slide 18
    APPENDIX SPARTAN ENERGY CORP. BUILDING SUSTAINABLE GROWTH JUNE 2014
  19. Building Sustainable Growth – Spartan Energy Corp. – slide 19
    Spartan Oil 269% ROI (18 months) 20 Overview Price Event Chart Formed through the spin-out of certain Cardium assets and SE Saskatchewan assets from Spartan 6.00 June 1, 2011: Completion of Feb 21, 2012: Announcement of…
  20. Building Sustainable Growth – Spartan Energy Corp. – slide 20
    Spartan ExploraZon 500% ROI (36 months) 21 Overview Price Event Chart 4.50 2,700,000 Spartan Explora6on was formed in Q1-2008 with a March 2008: 5.2MM non- April 1, 2011: Sold to Penn West for 228MM (6.00/share) brokered…

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