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Update to Investors – Lonestar Resources Ltd.

Lonestar Resources Ltd. · Mar 1, 2014 · 37 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. Update to Investors – Lonestar Resources Ltd. – slide 1
    Lonestar Resources Update to Investors March, 2014
  2. Update to Investors – Lonestar Resources Ltd. – slide 2
    Lonestar Resources: Corporate Snapshot Corporate History Share Price History Jun. 2010 Company was founded by Ecofin, Ltd. 0.325 Jan. 2012 Current Executive Management Team put in place, 0.300 corporate strategy focused on building…
  3. Update to Investors – Lonestar Resources Ltd. – slide 3
    Lonestars Track Record of Rapid Growth Net Acreage Eagle Ford Shale Trend Proved Reserves1 25,000 30 25 20,000 1P Reserves (MMBOE) 20 Net Acres 15,000 15 10,000 10 5 5,000 0 Dec-11 Dec-12 Dec-13 Today 0 Dec-11…
  4. Update to Investors – Lonestar Resources Ltd. – slide 4
    Lonestars Business Philosophy Lonestar is Highly Focused on the Crude Window of the Eagle Ford Shale trend Depths Lonestars position lies between 6,500 and 8,000 High Cash Margins Lonestars Cash Margins per BOE averaged 66.43 in 2013,…
  5. Update to Investors – Lonestar Resources Ltd. – slide 5
    Lonestars Operating Strategy Maximize Control Through Operations Control Completions & Aim to Operate 100% of Wells to Control Method of Completions, Costs & Flowback Costs Control Pace of When 100% of Properties are Operated,…
  6. Update to Investors – Lonestar Resources Ltd. – slide 6
    Recent Acquisitions Expand Eagle Ford Trend Acreage Eagle Ford Shale Trend Acquired Today Net Acres 13,156 23,079 Engineered Locations 56 136 Avg. W.I. 91.1% 95.6% Central Eagle Ford Proved Reserves 7.4 21.8 (MMBOE) Acquired Today…
  7. Update to Investors – Lonestar Resources Ltd. – slide 7
    Lonestar Resources Impact of Acquisition LONESTAR ACQUIRED PROFORMA INCREASE EAGLE FORD SHALE TREND ACREAGE Increases Net Eagle Ford trend Gross Acres Eagle Ford Shale Trend 10,632 15,232 25,864 143% Provides Scale & leasehold by…
  8. Update to Investors – Lonestar Resources Ltd. – slide 8
    Recent Acquisition Evaluation of Accretion SEC PV10 Per Share Lonestar SEC PV10 Per Share Proforma 800 800 700 700 600 600 SEC PV10 (USMM) SECPV10 (USMM) 500 500 A0.57 per share 400 400 A0.47 Mkt. 300 per 300…
  9. Update to Investors – Lonestar Resources Ltd. – slide 9
    Management Team Background and Track Record
  10. Update to Investors – Lonestar Resources Ltd. – slide 10
    Management Team Biographies Frank D. Bracken, III Over 28 years experience in oil and gas finance Managing Director Previously Managing Director at Jefferies & Co., Inc., where he led 5 billion in oil and gas transactions Chief…
  11. Update to Investors – Lonestar Resources Ltd. – slide 11
    Eagle Ford Shale Growth and Development Plan
  12. Update to Investors – Lonestar Resources Ltd. – slide 12
    Recent Acquisitions Expand Eagle Ford Trend Acreage Eagle Ford Shale Trend Acquired Today Gross Acres 15,232 25,864 Net Acres 13,156 23,079 Net Acres HBP 8,467 14,331 Central Eagle Ford Avg. W.I. 91.1% 95.6% Acquired Today Avg.…
  13. Update to Investors – Lonestar Resources Ltd. – slide 13
    Eagle Ford Shale Western Region Western Eagle Ford LEGEND Gross / Net Acres 8,565 / 7,073 Engineered Acreage Net Acres HBP 7,073 Upside Acreage Avg. WI / Avg. Royalty 88.3% / 23.9% Eagle Ford Depth 6,500 to 8,000 Producing EF Well…
  14. Update to Investors – Lonestar Resources Ltd. – slide 14
    Eagle Ford Shale Western Region LEGEND Ranger Beall Ranch Engineered Acreage Net Acres / HBP 2,318 / 2,318 Upside Acreage W.I. / Royalty% 97.7% / 25.0% Producing EF Well Permitted EF Well Operator Lonestar Resources, Inc. 300 30…
  15. Update to Investors – Lonestar Resources Ltd. – slide 15
    Eagle Ford Shale Western Region Asherton CMWW B1H Towers A1H 465 BOEPD Net Acres / HBP 690 / 690 526 BOEPD W.I. / Royalty% 97.0% / 24.6% Operator Lonestar Resources, Inc. Top EFS 6,500 McCain 1H Asherton 6HN 477 BOEPD Well…
  16. Update to Investors – Lonestar Resources Ltd. – slide 16
    Eagle Ford Shale Western Region LEGEND Burns Ranch Area Engineered Acreage Net Acres / HBP 4,001 / 4,001 Upside Acreage Producing EF Well W.I. / Royalty% 66.7% / 21.6% Permitted EF Well 300 30 Day Max Rate Operator Lonestar…
  17. Update to Investors – Lonestar Resources Ltd. – slide 17
    Eagle Ford Shale Central Region Central Eagle Ford Gross / Net Acres 11,041 / 10,984 Net Acres HBP 3,888 Avg. WI / Avg. Royalty 98.4% / 24.2% Eagle Ford Depth 6,700 to 7,900 Well Cost 5.9 to 7.0 MM Lateral Lengths 5,000 to 7,000…
  18. Update to Investors – Lonestar Resources Ltd. – slide 18
    Eagle Ford Shale Central Region Pirate Area Net Acres / HBP 7,658 / 2,793 Moczygemba B1H 554 BOEPD W.I. / Royalty% 97.6% / 22.8% Operator Lonestar Resources, Inc. Warnken 1H Top EFS 7,900 464 BOEPD Well Costs 5.9 to 7.0 MM…
  19. Update to Investors – Lonestar Resources Ltd. – slide 19
    Eagle Ford Shale Central Region LEGEND Gonzo Area Engineered Acreage Net Acres / HBP 3,383 / 1,096 Upside Acreage W.I. / Royalty% 100.0% / 25.0% Producing EF Well Permitted EF Well B.Manford 1H 566 BOEPD Operator Lonestar…
  20. Update to Investors – Lonestar Resources Ltd. – slide 20
    Eagle Ford Shale Eastern Region LEGEND Eastern Eagle Ford Engineered Acreage Gross / Net Acres 6,257 / 5,022 Upside Acreage Net Acres HBP 3,370 Producing EF Well Avg. WI / Avg. Royalty 100% / 20.9% Permitted EF Well Eagle Ford…
  21. Update to Investors – Lonestar Resources Ltd. – slide 21
    Eagle Ford Shale El Halcon McDonald 1H 706 BOEPD El Halcon Area Net Acres / HBP 3,449 / 3,370 W.I. / Royalty% 100.0% / 20.9% Operator Lonestar Resources, Inc. Moose 1H 541 BOEPD Top EFS 7,300 to 8,300 Well Costs 6.3 to 7.4…
  22. Update to Investors – Lonestar Resources Ltd. – slide 22
    Brazos / Burleson County Upside To Be Evaluated Eagle Ford / Buda / Eaglebine / Woodbine Net Acres / HBP 1,573 / 1,573 W.I. / Royalty% 62.0% / 20.7% Operator Lonestar Resources, Inc. 1 Comments Area 1 Productive in…
  23. Update to Investors – Lonestar Resources Ltd. – slide 23
    Conventional Assets Stability & Free Cash Flow
  24. Update to Investors – Lonestar Resources Ltd. – slide 24
    Conventional Assets 3.8 MMBOE Proved Reserves 79% Crude Oil 15% of Lonestars Total Proved Reserves North Texas 676 BOEPD 4Q13 Production 72% Crude Oil & NGLs 18% of Lonestars Total Production West Texas LongLived Reserves with…
  25. Update to Investors – Lonestar Resources Ltd. – slide 25
    BakkenThree Forks Growth and Development Strategy
  26. Update to Investors – Lonestar Resources Ltd. – slide 26
    West Poplar Bakken/Three Forks Daniels Sheridan Divide Burke Williston Basin renowned for highly successful Bakken / Three Forks play FORT PECK RESERVATION Historical industry activity concentrated on oil in acreage to south…
  27. Update to Investors – Lonestar Resources Ltd. – slide 27
    West Poplar Bakken/Three Forks June 2011 Lonestar and its partners drilled the Clark Farms 2910 in July, 2012 as a vertical completion Encountered three prospective nonconventional zones which comprise a 120 to 150…
  28. Update to Investors – Lonestar Resources Ltd. – slide 28
    Bakken/Three Forks West Poplar July 2012 Since this well test, nearly 1 million new acres have been leased north of the BrocktonFroid fault, suggesting validation of the West Poplar potential Lonestar is currently seeking to…
  29. Update to Investors – Lonestar Resources Ltd. – slide 29
    Metrics & Valuation Lonestar Resources, Ltd. (LNR: ASX)
  30. Update to Investors – Lonestar Resources Ltd. – slide 30
    Attractive Valuation Relative to Peers Enterprise Value1 / 2014E EBITDAX 8.0x 7.0x 6.0x 5.0x 4.0x 3.0x 2.0x 1.0x 0.0x FST MTDR SN PVA AXAS AUT.AU LNR.AU RFE.AU SEA.AU 1. Lonestar Enterprise Value is calculated on…
  31. Update to Investors – Lonestar Resources Ltd. – slide 31
    Attractive Valuation Relative to Peers Enterprise Value1 / Proved Reserves (USD/BOE) 40.00 35.00 30.00 25.00 20.00 15.00 10.00 5.00 0.00 SN MTDR AUT.AU PVA LNR.AU SEA.AU AXAS FST RFE.AU 1. Lonestar Enterprise Value…
  32. Update to Investors – Lonestar Resources Ltd. – slide 32
    Attractive Valuation Relative to Peers Enterprise Value1 / 2014E Production 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 3 1. Lonestar Enterprise Value is calculated on a 0.27 / share price and 752.0 mm…
  33. Update to Investors – Lonestar Resources Ltd. – slide 33
    Appendix
  34. Update to Investors – Lonestar Resources Ltd. – slide 34
    Significant Portfolio Focused On Unconventional Oil Map of Major Assets Geographic Split of Proved Reserves 1 LEGEND Unconventional Assets BAKKENTHREE FORKS Eagle Ford Shale Eagle Ford Shale Conventional Assets 19.3 MMBOE 21.5…
  35. Update to Investors – Lonestar Resources Ltd. – slide 35
    Glossary 1P reserves means proved reserves. 2P reserves means proved plus probable reserves. bbl means barrel. boe means barrels of oil equivalent, determined using a ratio of 6 Mcf of natural gas to 1 bbl of condensate or crude oil…
  36. Update to Investors – Lonestar Resources Ltd. – slide 36
    Footnotes Reserves Reporting: In accordance with Australian Securities Exchange (ASX) Listing Rule 5 and the new reporting requirements for oil and gas companies which applied from 1 December, 2013, please be advised that: Lonestars…
  37. Update to Investors – Lonestar Resources Ltd. – slide 37
    Reserves, PV10 and EBITDA Assumptions EBITDA estimates are based on the following assumptions: Production estimates as set out in this presentation. The total number of planned wells at each asset is consistent with assumptions…

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