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2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc.

Black Ridge Oil & Gas, Inc. · Aug 12, 2014 · 23 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. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 1
    Focused Growth in the Williston Basin 2Q 2014 Financial and Operational Update OTCQB: ANFC August 12, 2014
  2. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 2
    Black Ridge Overview Well Positioned to Take Advantage of Current Phase of Development in the Williston Basin Pure Play Bakken / Three Forks Non-Operator Production is 90% oil Approximately 10,000 net leasehold acres Non-operator…
  3. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 3
    Non-Operator Business Model Typical Spacing Unit: 1,280 Net Acres 64 64 Oil & Gas Well (Operators) Majority interest owners (operators) may permit a well on a standard spacing unit. Minority Interest (Non-Operators)…
  4. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 4
    Why The Non-Operator Business Model Ability to selectively invest in the highest return projects, without the need to control a drilling unit Knowledge and data from over 300 gross wells to make capital allocation decisions Low…
  5. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 5
    Evolution of The Williston Basin Phase 1: Land Grab, 2007 - 2009 Leases in heart of play acquired for < 500/acre, 3-5 year terms, 81.25% NRI Prolific Estimated Ultimate Recoveries (EURs) in Parshall and Sanish fields resulted in high…
  6. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 6
    Why The Bakken and Three Forks World Scale, Oil Weighted Resource Estimates of recoverable oil range from 9 Billion BOE to 24 Billion BOE Stacked pay zones with both Bakken and Three Forks throughout the heart of the development…
  7. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 7
    Why The Bakken and Three Forks Operator Efficiency Driving Production Growth(1) Bakken New Well Oil Production per Rig Rig Count 600 250 New Well Production Rigs 500 200 400 150 BOPD 300 100 200 100 50 - - 2007 2008…
  8. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 8
    Why The Bakken and Three Forks Operator Efficiencies Driving Higher Returns Improving Well Costs (1) Majority of Bakken acreage is held by 10 9.7 production Down-spacing decisions based on returns Pad drilling efficiencies being…
  9. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 9
    Black Ridge Oil & Gas Strategy Deal Flow with Near-Term Development Reporting, Controls, Regulatory Compliance Disciplined Investment Capital Availability Decisions and Asset Management Cash Flow: IRR 30%…
  10. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 10
    Fragmented Leases Consolidation Opportunity Acres Controlled by Leaseholders 1,400,000 Opportunity: More than 1,000,000 Net Acres in the Existing Fairway(1) 1,200,000 Fragmented Leaseholders Largest leaseholders are operators,…
  11. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 11
    Investment Decisions, Asset Management 350 Black Ridge Oil & Gas Gross Wells (as of 7/31/14) 320 300 250 200 150 100 50 0 Producing Drilling Permitted Rigorous, return based decisions on every dollar invested…
  12. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 12
    Liquidity Senior Secured Revolving Credit Facility Subordinated Term Loan 50 MM 75 MM 20 MM Current Borrowing Base 35 MM Current Availability LIBOR + 300 bps to LIBOR + 350 bps LIBOR + 900 bps cash, 400 bps PIK depending upon…
  13. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 13
    Executing Our Growth Strategy 10 Black Ridge Oil & Gas Net Wells (as of 7/31/14) Ratio of net wells drilling to 9 net wells producing leading 8 1.8 7 indicator for strong 6 production growth in 2014 5 6.4 net wells producing…
  14. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 14
    Production Growth Driving Cash Flow Growth Black Ridge Oil & Gas Adjusted EBITDA(1) 4.0 3.6 3.5 3.0 2.5 2.4 MM 2.0 2.0 1.7 1.5 1.2 1.0 1.0 0.5 0.0 (1) Adjusted EBITDA is a non-GAAP financial measure.…
  15. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 15
    Strong Asset Base Driving Growth Year End 2013 Reserve Summary Oil Gas Total SEC PV10 Reserve Category (MBbls) (Mmcf) (MBOE) (MM) PDP 895 615 998 32.38 PDNP 32 38 38 1.61 PUD 3,147 2,126 3,502 40.39 Total Proved Reserves…
  16. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 16
    Corral Creek Dunn County, ND North Dakota Montana T147N R95W T147N R94W T147N R93W Corral Creek Unit Lincoln Gorhman 30,884 Gross Acres 2748 Gross Acres 1280 Gross Acres 0.77% Working Interest (WI) 6.43% WI 19.34% WI Hansen…
  17. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 17
    Stockyard Creek - Williams County, ND Eight Gross (0.67 Net) Wells Producing North Sail & Anchor 4-13-14HBK Dakota Coopers 2-15-14HBK Montana Tooheys 4-15-14HBK Little Creature 1-15-14HBK Blackdog 3-13-14H E Rennerfeldt 1-13H E…
  18. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 18
    Mandaree McKenzie County, ND Operator: EOG Resources Antelope Prospect Five Gross (0.62 net) Wells Drilling, Expected Production Q4 14 Mandaree 17-05H Mandaree 135-05H North Dakota Mandaree 110-05H Montana Mandaree 134-05H…
  19. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 19
    Executing Growth Plan Focused on Growing Production, Reserves, Cash Flow and Shareholder Returns Future Today Deploying full 125 MM Completed Financing, 81 MM available for acreage putting capital to work acquisition and well…
  20. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 20
    Why Invest Positioned for rapid growth in 2014 and beyond Pure play Bakken / Three Forks non-operator with 90% oil-weighted production Liquidity to fund existing development and acquisition plans Strong inventory of high return…
  21. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 21
    For More Information www.blackridgeoil.com Ken DeCubellis Chief Executive Officer ken.decubellisblackridgeoil.com 952-426-1241 Stay Up to Date on Black Ridge Oil & Gas www.blackridgeoil.com 22
  22. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 22
    Appendix www.blackridgeoil.com 23
  23. 2Q 2014 Financial and Operational Update – Black Ridge Oil & Gas, Inc. – slide 23
    Reconciliation of Net Income to Adjusted EBITDA Black Ridge Oil & Gas, Inc. Adjusted EBITDA by Quarter Three Months Ended March 31, June 30, September 30, December 31, March 31, June 30, 2013 2013 2013 2013 2014 2014 Net income…

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