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NON DEAL ROADSHOW – Beach Energy Limited

Beach Energy Limited · Jun 23, 2014 · 56 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. NON DEAL ROADSHOW – Beach Energy Limited – slide 1
    Non deal roadshow 23-27 June 2014 1
  2. NON DEAL ROADSHOW – Beach Energy Limited – slide 2
    General overview 3
  3. NON DEAL ROADSHOW – Beach Energy Limited – slide 3
    Key facts about Beach ASX 100 company with a market capitalisation of A2.2 billion1 Largest Australian onshore oil producer Strong balance sheet with cash of 428 million2 Undrawn secured debt facility of 300 million FY14 sales…
  4. NON DEAL ROADSHOW – Beach Energy Limited – slide 4
    Cooper Basin acreage Prolific gross acreage position of over 56,000 km2 generating 99% of current production 5
  5. NON DEAL ROADSHOW – Beach Energy Limited – slide 5
    Looking forward. Beach targeting the following in the next 1-2 years: Continued investment in growth of conventional Cooper Basin gas production capacity First exposure to oil linked domestic gas pricing and improved margins New oil…
  6. NON DEAL ROADSHOW – Beach Energy Limited – slide 6
    FY14 actual and forecast production Production of 7.3 MMboe to March 2014 9.6 MMboe to Production mix: 46% gas and gas liquids, Gas* 1.01.3 MMboe 9.2 MMboe (6-7 PJe) 54% oil Production anticipated at the upper end 8.0 MMboe…
  7. NON DEAL ROADSHOW – Beach Energy Limited – slide 7
    FY14 Revised capital expenditure guidance Seismic Capex Wells ( million) 2D km 3D km2 DEVELOPMENT Cooper Basin non-SACB JV 55 60 10 13 Cooper Basin SACB/SWQ JV 200 220 50 International 10 4 Total Development 265 290 Up to 67…
  8. NON DEAL ROADSHOW – Beach Energy Limited – slide 8
    Reserves and contingent resources 2P: 93 MMboe 2P and 2C: 542 MMboe Gas and gas liquids Unconventional 71 MMboe Gas and gas liquids 2P reserves 319 MMboe 93 MMboe Oil 22 MMbbl Conventional Gas and gas liquids 113 MMboe…
  9. NON DEAL ROADSHOW – Beach Energy Limited – slide 9
    Australian onshore oil production Australias largest onshore oil producer, with a strong inventory of Cooper Basin oil discoveries coming on-line in FY15 Sources: Recent half year and quarterly publicly available company…
  10. NON DEAL ROADSHOW – Beach Energy Limited – slide 10
    Growing corporate activity 2011 2012 2013 2014 YTD 2,000 1,840 1,500 Equity Value (AM) 1,000 924 535 463 500 212 107 118 104 100 142 160 27 54 - Target Eastern Star Gas Bow EnergyEureka EnergyAcer Energy…
  11. NON DEAL ROADSHOW – Beach Energy Limited – slide 11
    Eastern Australian gas market 12
  12. NON DEAL ROADSHOW – Beach Energy Limited – slide 12
    Australian east coast gas Gas price drivers: Australian east coast gas is one of the LNG export from Gladstone only commodities globally currently accessing Asian markets increasing in price Higher upstream costs for exploration…
  13. NON DEAL ROADSHOW – Beach Energy Limited – slide 13
    Eastern Australian gas markets Strong predicted growth in Eastern Australian gas and Asian LNG demand Gladstone based export LNG projects have transformed the east coast gas market Projected gas supply is tight and demand strong The…
  14. NON DEAL ROADSHOW – Beach Energy Limited – slide 14
    Prolific gas acreage strategically located Quality acreage footprints accessing multiple markets Prime unconventional gas acreage with transformational potential Gas liquids potential in most basins Multi-basin portfolio to…
  15. NON DEAL ROADSHOW – Beach Energy Limited – slide 15
    Upstream and downstream dynamics Equity molecules to equity projects Suppliers creating new markets via downstream investments Vertical integration driven by both domestic and export opportunities Depending on volume and…
  16. NON DEAL ROADSHOW – Beach Energy Limited – slide 16
    Western Flank Cooper Basin 17
  17. NON DEAL ROADSHOW – Beach Energy Limited – slide 17
    Western Flank High net back for oil and wet gas Quick drill and tie-in, high flow rates Excellent geological understanding Established infrastructure 250 kilometres of flowlines 10 facilities and five trucking points 40 oil wells…
  18. NON DEAL ROADSHOW – Beach Energy Limited – slide 18
    Western Flank oil migration path 19
  19. NON DEAL ROADSHOW – Beach Energy Limited – slide 19
    PEL 91 Beach 40% and operator, Drillsearch 60% Current gross production 11,500 bopd, with further wells to be tied-in Successful Bauer-12 and Pennington-2 appraisal wells have increased reserves Congony, Sceale and Kalladeina…
  20. NON DEAL ROADSHOW – Beach Energy Limited – slide 20
    The Bauer oil field Bauer-12 appraisal well intersected a nine metre oil column: Four metres of McKinlay Member Five metres of Namur Sandstone Added 2.5 MMbbl (gross) of 2P reserves Currently producing from eight wells Bauer-9,…
  21. NON DEAL ROADSHOW – Beach Energy Limited – slide 21
    PEL 91 Pennington field appraisal Beach 40% and operator, Drillsearch 60% 3D seismic coverage with the Aquillus and Caseolus surveys Pennington-1 oil discovery: 13 metres McKinlay/Namur oil column Pennington North-1 Six metre…
  22. NON DEAL ROADSHOW – Beach Energy Limited – slide 22
    PEL 92 Beach 75% and operator, Cooper Energy 25% Current gross production 4,500 bopd Fishery-1 exploration well to spud imminently One further exploration well planned from FY14 program Interpretation of Irus and Caseolus 3D…
  23. NON DEAL ROADSHOW – Beach Energy Limited – slide 23
    PEL 104 and PEL 111 Beach 40%, Senex 60% and operator Focus on the Birkhead Formation Gross production of 4,000 bopd from Growler and Snatcher fields Further appraisal drilling at Spitfire and Mustang proposed Currently drilling…
  24. NON DEAL ROADSHOW – Beach Energy Limited – slide 24
    PEL 106 Beach 50% and operator, Drillsearch 50% Commercial discussions successful in establishing extended gas sales to March 2016 Liquids rich Canunda field operational since July 2013 Gross flow rate of 10 MMscfd and 500 bbls…
  25. NON DEAL ROADSHOW – Beach Energy Limited – slide 25
    SACB JV and SWQ JVs Conventional gas 26
  26. NON DEAL ROADSHOW – Beach Energy Limited – slide 26
    SACB JV and SWQ JVs Significant acreage with substantial reserves base 20.21% in the South Australian Cooper Basin Joint Venture (SACB JV) and 20-40% in the South West Queensland JVs (SWQ JVs) Gross area covered by various joint…
  27. NON DEAL ROADSHOW – Beach Energy Limited – slide 27
    Moomba processing facility Strategically located expandable facility Current daily capacity approximately: 300 TJ gas 35 kbbl oil/condensate 600 tonnes LPG Substantial gas storage system with capacity 70 PJ Gas supplied directly…
  28. NON DEAL ROADSHOW – Beach Energy Limited – slide 28
    SACB JV conventional gas Five rigs operating Focus on cost savings through multi-well pad drilling SIMOPS approach to fracture stimulation Targeted 30% capacity growth by 2015, leading to a step-change in cost reductions…
  29. NON DEAL ROADSHOW – Beach Energy Limited – slide 29
    Unconventional gas Cooper Basin 30
  30. NON DEAL ROADSHOW – Beach Energy Limited – slide 30
    Unconventional transaction activity McArthur Basin 2011 2012 2013 2014 Beetaloo Basin 600 Canning Basin Almost 2 billion 500 Southern committed to Gross consideration (AM) Georgina Basin new Australian 400 Cooper-…
  31. NON DEAL ROADSHOW – Beach Energy Limited – slide 31
    Unconventional positioning Strategically targeted three key basins for unconventional acreage Cooper Basin activity: Nappamerri Trough Natural Gas with Chevron and Icon SACB JV unconventional REM and BCG plays Otway and Bonaparte…
  32. NON DEAL ROADSHOW – Beach Energy Limited – slide 32
    The keys to unconventional success Well profiles the key focus on all projects Uncovering sweet spots with focused activity around them Process improvements and technology to drive efficiencies Costs to be driven down by…
  33. NON DEAL ROADSHOW – Beach Energy Limited – slide 33
    SACB JV Unconventional gas 34
  34. NON DEAL ROADSHOW – Beach Energy Limited – slide 34
    SACB JV unconventional program 35
  35. NON DEAL ROADSHOW – Beach Energy Limited – slide 35
    REM play Targeting the Roseneath Shale, Epsilon Formation, Murteree Shale and Patchawarra Formation Moomba-191 and -194 tied-in and producing Roswell-1 and Moomba-192 vertical wells fracture stimulated and flow tested Roswell-2H…
  36. NON DEAL ROADSHOW – Beach Energy Limited – slide 36
    BCG play Gaschnitz-1 ST1 vertical well: Seven zone stimulation, produced at 1 MMscfd Shut-in, awaiting completion 2014 follow up program of two deep wells and up to four shallow vertical wells Pilot production if fracture…
  37. NON DEAL ROADSHOW – Beach Energy Limited – slide 37
    Nappamerri Trough Natural Gas 38
  38. NON DEAL ROADSHOW – Beach Energy Limited – slide 38
    Nappamerri Trough Natural Gas A staged and methodical exploration and appraisal program Delineation of a significant untapped resource Multiple formations present Aerially extensive with permits covering more than 800,000 acres…
  39. NON DEAL ROADSHOW – Beach Energy Limited – slide 39
    NTNG wells 40
  40. NON DEAL ROADSHOW – Beach Energy Limited – slide 40
    Retention licences granted 41
  41. NON DEAL ROADSHOW – Beach Energy Limited – slide 41
    Exploration concept 42
  42. NON DEAL ROADSHOW – Beach Energy Limited – slide 42
    Exploration and appraisal cross section Note: Well locations are approximate only and may have been shifted to show their correct structural position on the cross section 43
  43. NON DEAL ROADSHOW – Beach Energy Limited – slide 43
    Other Australia 44
  44. NON DEAL ROADSHOW – Beach Energy Limited – slide 44
    Otway Basin Building a portfolio of onshore and offshore gas assets Two onshore wells recently drilled, with conventional and unconventional targets identified Further conventional onshore drilling anticipated Joint venture with…
  45. NON DEAL ROADSHOW – Beach Energy Limited – slide 45
    Cross section of PELs 494 and 495 46
  46. NON DEAL ROADSHOW – Beach Energy Limited – slide 46
    Bonaparte Basin EP 126, 138 (Beach earning up to 90%) 6,500 km2 high resolution airborne gravity and magnetic survey acquired, processed and interpreted Cullen-1 coring at 1,600 metres Undeveloped Weaber gas field evidence of…
  47. NON DEAL ROADSHOW – Beach Energy Limited – slide 47
    Cooper Basin Eastern Flank ATP 732 (Beach earning 50%, Bengal 50%) Large underexlored permit Located between the Jackson (50 MMbbl of oil produced) and the Kenmore/Bodalla (20 MMbbl of oil produced) fields 300 km2 Nassarius 3D…
  48. NON DEAL ROADSHOW – Beach Energy Limited – slide 48
    International 49
  49. NON DEAL ROADSHOW – Beach Energy Limited – slide 49
    International operations Romania Provides long-term growth Offshore oil and gas options Favourable fiscal regime Targeted and disciplined approach to key attributes: Egypt Technical Production growing Commercial Exploration…
  50. NON DEAL ROADSHOW – Beach Energy Limited – slide 50
    Egypt Country status Recent history of political volatility and unrest Business as usual from an operations standpoint Growth potential Targeting material oil prospects Abu Sennan success within the El Salmiya field Beach value…
  51. NON DEAL ROADSHOW – Beach Energy Limited – slide 51
    Tanzania Lake Tanganyika South Block Beach 100% Block area 7,200 km2 Natural oil seeps indicate a working petroleum system 2,080 kilometre 2D seismic survey completed in August 2012 Extensive structuring confirmed, similar to…
  52. NON DEAL ROADSHOW – Beach Energy Limited – slide 52
    Romania Est Cobalcescu block Beach 30%, PetroCeltic 40% and operator, Petromar 30% 1,000 km2 with 3D seismic coverage Water…
  53. NON DEAL ROADSHOW – Beach Energy Limited – slide 53
    Appendices 54
  54. NON DEAL ROADSHOW – Beach Energy Limited – slide 54
    Chevron transaction summary Subject to joint venture approvals, the key work program elements envisaged across the two permits involve an initial exploration program to be followed by pilot production programs PEL 218 potential…
  55. NON DEAL ROADSHOW – Beach Energy Limited – slide 55
    SACB JV unconventional and infill Moomba wells - nomenclature Current Well Name Previous Well Name Purpose Status Roswell 1 Roswell 1 Vc 50 coal, REM, Microseismic Flowing from Vc 50 post frac Roswell 2 Roswell 2 Horizontal Roseneath…
  56. NON DEAL ROADSHOW – Beach Energy Limited – slide 56
    Contact Information Head office 25 Conyngham Street Glenside SA 5065 Tel: +61 8 8338 2833 Fax: +61 8 8338 2336 Website: www.beachenergy.com.au Chris Jamieson General Manager Investor Relations Tel: +61 8 8338 2833 Mob: +61 8…

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