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Corporate Presentation – Kelt Exploration Ltd.

Kelt Exploration Ltd. · Jan 15, 2015 · 27 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. Corporate Presentation – Kelt Exploration Ltd. – slide 1
    Corporate Presentation January 2015 David J. Wilson, President & Chief Executive Officer Sadiq H. Lalani, Vice President, Finance & Chief Financial Officer www.KeltExploration.com
  2. Corporate Presentation – Kelt Exploration Ltd. – slide 2
    Why Invest in Kelt 2 For investors who want to be exposed to a growth oriented oil and gas exploration and development business plan TRACK RECORD: the Kelt management team has a strong track record of building shareholder value,…
  3. Corporate Presentation – Kelt Exploration Ltd. – slide 3
    Common Share Information 3 Stock Exchange listing TSX Trading symbol KEL Market capitalization ( Jan / 19 / 2015 ) 0.9 billion 52-week trading range 5.81 - 15.61 Common shares issued 126.9 million Restricted share units (RSUs) 1.8…
  4. Corporate Presentation – Kelt Exploration Ltd. – slide 4
    Capital Expenditure Program 4 2014 2015 2014/2015 ( millions ) Change Forecast Budget Spending Drilling & Completions 188.0 90.0 - 52% 278.0 Facilities, Equipment & 48.0 30.0 - 38% 78.0 Pipeline Infrastructure Land, Seismic &…
  5. Corporate Presentation – Kelt Exploration Ltd. – slide 5
    2014 / 2015 Drilling Program 5 2014: 36 gross (27.1 net) wells drilled 2015: 17 gross (12.9 net) wells planned Gross Net D&C Avg / Well % Wells Wells ( MM ) ( MM ) Grande Prairie [1] 29 24.0 154 55% 6.4 Karr [2] 8 7.8 59 21%…
  6. Corporate Presentation – Kelt Exploration Ltd. – slide 6
    Production Outlook 6 2014 Change 2015 Change Forecast Split from Budget Split from (average) 2013 (average) 2014 Oil ( bbls/d ) 3,400 27% + 559% 5,050 30% + 49% NGLs ( bbls/d ) 910 7% + 206% 1,330 8% + 46% Gas ( mcf/d )…
  7. Corporate Presentation – Kelt Exploration Ltd. – slide 7
    Production Growth ( since inception ) 7 PRODUCTION ( BOE / d ) PRODUCTION PER MILLION SHARES ( BOE / d ) 20,000 160 16,600 131 16,000 120 12,700 104 12,000 10,220 81 80 8,390 69 8,000 53 3,961 40 4,000 42 6,380 50…
  8. Corporate Presentation – Kelt Exploration Ltd. – slide 8
    Commodity Prices 8 ( CA , unless otherwise specified ) 2014 (E) 2015 (E) Change WTI Crude Oil ( USD/bbl ) US 92.92 US 59.50 - 36% WTI Crude Oil ( CAD/bbl ) 102.66 69.62 - 32% NYMEX Natural Gas ( USD/mmbtu ) US 4.37 US 3.25 - 26%…
  9. Corporate Presentation – Kelt Exploration Ltd. – slide 9
    Netbacks 9 ( / BOE ) 2014 (E) 2015 (E) Change Oil & gas revenue 46.50 34.52 - 26% Realized hedging gain ( loss ) ( 0.10 ) 0.30 n/a Royalties ( % of revenue ) ( 13.9% ) ( 12.7% ) - 9% Production & transportation exp. ( 14.28 ) (…
  10. Corporate Presentation – Kelt Exploration Ltd. – slide 10
    Financial Outlook 10 2014 (E) 2015 (E) Change Revenue, before royalties ( MM ) 215.2 210.9 - 2% Funds from operations ( MM ) [1] 114.9 88.0 - 23% Per share diluted ( /share ) 0.92 0.68 - 26% Capital expenditures ( MM ) [2]…
  11. Corporate Presentation – Kelt Exploration Ltd. – slide 11
    2015 Commodity Price Sensitivities Funds from Operations 11 Forecasted 2015 Funds from Operations ( millions ) - Sensitivities to Commodity Prices : WTI Oil US 47.60 US 59.50 US 71.40 US 83.30 US 95.20 AECO Gas CA 2.48 58 73 87…
  12. Corporate Presentation – Kelt Exploration Ltd. – slide 12
    2015 Commodity Price Sensitivities Debt 12 Forecasted year-end 2015 Debt ( millions ) - Sensitivities to Commodity Prices : ( Available bank credit line is currently 235 million ) WTI Oil US 47.60 US 59.50 US 71.40 US 83.30 US…
  13. Corporate Presentation – Kelt Exploration Ltd. – slide 13
    2015 Commodity Price Sensitivities Debt Ratio 13 Forecasted year-end 2015 Debt to 2015 Funds from Operations Ratio - Sensitivities to Commodity Prices : WTI Oil US 47.60 US 59.50 US 71.40 US 83.30 US 95.20 AECO Gas CA 2.48 3.5 x…
  14. Corporate Presentation – Kelt Exploration Ltd. – slide 14
    Core Areas 14 Grande Prairie ( includes Pouce Coupe, Spirit River & Valhalla / La Glace ) : Montney/Doig gas development Montney light oil development Charlie Lake light oil development Inga / Fireweed Halfway light oil…
  15. Corporate Presentation – Kelt Exploration Ltd. – slide 15
    Land Holdings 15 Gross Acres Net Acres Average WI Net Sections Developed 285,238 139,604 49% 218.1 Undeveloped 463,778 318,461 [1] 69% 497.6 Total 749,016 458,065 [2] 61% 715.7 [1] Net undeveloped land holdings has increased by…
  16. Corporate Presentation – Kelt Exploration Ltd. – slide 16
    Extensive Alberta Land Base 16 Gordondale Operations Progress Spirit River Kelts main field operating base is in Pouce Coupe the city of Grande Prairie, currently staffed with 20 full-time employees. Valhalla / La Glace…
  17. Corporate Presentation – Kelt Exploration Ltd. – slide 17
    Grande Prairie 17 LAND Gross: 283,148 acres ( 442 sections ) Pouce Coupe Net: 174,354 acres ( 272 sections ) Progress Spirit River PRODUCTION Q3 2014 Production: 7,498 BOE/d ( 56% gas & 44% oil ) Valhalla / La Glace Top five…
  18. Corporate Presentation – Kelt Exploration Ltd. – slide 18
    Pouce Coupe 18 Targeting Montney (upper Progress and middle/lower) and Halfway O Pool Unit 7.8% WI Doig formations. Pouce Coupe Ownership in pipeline infrastructure, gas South Boundary B Unit 2 67.9% WI CNRL Operated…
  19. Corporate Presentation – Kelt Exploration Ltd. – slide 19
    Spirit River 19 Charlie Lake Gamma Ray Density Porosity Worsley (O) 13-34 Y Progress 13-33 Halfway 15-13 Gas Unit 1 (50%) J (Upper) 15.9% WI 16-11 J (Lower) H2O Disposal 15-5 R Spirit River Charlie Lake E & M…
  20. Corporate Presentation – Kelt Exploration Ltd. – slide 20
    Valhalla / La Glace 20 Kelt completed a 165 MM acquisition at Valhalla/La Glace in July 2014, Encana adding approximately Sexsmith 200 MMcf/d 11.7 MM BOE (70% oil) of 13-33 Gas Plant (0.3% WI) 2P reserves [1] (with 60.7…
  21. Corporate Presentation – Kelt Exploration Ltd. – slide 21
    Karr 21 LAND Montney Rights: 37.0 sections ( gross ) 16-10 (75%) MM 35.8 sections ( net ) 16-8 (75%) OPERATIONS Q3 2014 Production: 1,318 BOE/d 16-31 MM ( 53% oil & 47% gas ) 4-2 Top three IP30 wells 13-31 ( gross sales,…
  22. Corporate Presentation – Kelt Exploration Ltd. – slide 22
    Grande Cache / Chicken 22 13-20 Cretaceous ExploratoryTest LAND 15-27 Narraway Chinook Exploratory Gross: 145,600 acres ( 227 sections ) 135 MMcf/d Gas Plant (7% WI) Test Net: 100,225 acres ( 157 sections ) OPERATIONS Q3…
  23. Corporate Presentation – Kelt Exploration Ltd. – slide 23
    Inga / Fireweed ( British Columbia ) 23 Fireweed 16 MMcf/d LAND Compressor/ Facility (50% WI) Montney Rights: 147 sections ( gross ) A-6-A (50% WI) Montney Test 64 sections ( net ) A-65-I (50% WI) Montney Test Gross IP30 =…
  24. Corporate Presentation – Kelt Exploration Ltd. – slide 24
    Future Considerations 24 DRILLING INVENTORY: Kelt estimates that it has numerous years of drilling inventory on its existing lands to continue to grow the Company. BALANCE SHEET: Kelt maintains financial flexibility so that it can…
  25. Corporate Presentation – Kelt Exploration Ltd. – slide 25
    Management 25 David J. Wilson, President & CEO Sadiq H. Lalani, Vice President, Finance & CFO Douglas J. Errico, Vice President, Land Alan G. Franks, Vice President, Production Douglas O. MacArthur, Vice President, Operations Patrick…
  26. Corporate Presentation – Kelt Exploration Ltd. – slide 26
    Board of Directors 26 Robert J. Dales Compensation (Chair), Nominating, Audit, Reserves William C. Guinan Chairman, Nominating (Chair), HSE Eldon A. McIntyre Reserves (Chair), Nominating, Audit, Compensation Neil G. Sinclair Audit…
  27. Corporate Presentation – Kelt Exploration Ltd. – slide 27
    Corporate Presentation January 2015 Suite 300, 311 6th Avenue SW Calgary, Alberta, Canada T2P 3H2 www.KeltExploration.com

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