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US BAKKEN – Enerplus Corp

Enerplus Corp · Jul 1, 2011 · 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. US BAKKEN – Enerplus Corp – slide 1
    U.S. Bakken The Game Plan Dana W. Johnson, President, U.S. Operations
  2. US BAKKEN – Enerplus Corp – slide 2
    U.S. Bakken Regional Overview Enerplus land Enerplus land Source: RSEG, Oct. 2010 1
  3. US BAKKEN – Enerplus Corp – slide 3
    Bakken & Three Forks Geology Middle Bakken Upper Three Forks Geological Age Mississippian Devonian Depth 10,500 11,000 ft 10,600 11,000 ft Thickness 35 45 ft 30- 45 ft Porosity 5 - 6% 6 - 10% Overpressure 0.6 0.8 psi/ft 0.6 0.8…
  4. US BAKKEN – Enerplus Corp – slide 4
    Fort Berthold Reserves vs. Contingent Resource Almost 3x P+P 22.4 MMBOE P+P reserves reserve upside 24 booked drilling locations Less than 1 years drilling locations 60 MMBOE of best estimate contingent resource from the Bakken…
  5. US BAKKEN – Enerplus Corp – slide 5
    Fort Berthold, North Dakota Key Facts Net Acreage 74,500 (116 sections) Current Production 4,000 BOE/day P+P Reserves (Dec. 31, 2010) 22.4 million BOE Contingent Resource Est. (Best) 60 million BOE Bakken & Three Forks…
  6. US BAKKEN – Enerplus Corp – slide 6
    Recoveries Improving Over Time ERF Improving recoveries at Fort Berthold due 8 Wells Ave. 6.9 to longer laterals, more frac stages and MM/Well better completions Peak * 4 Wells Peak * Ave. 6.1 5 Wells MM/Well Ave. 5.5…
  7. US BAKKEN – Enerplus Corp – slide 7
    Fort Berthold Bakken Results to Date Long Laterals Short Laterals (9,000 ft. 24 frac stages) (4,500 ft. 12 frac stages) Type Actual Type Actual Curve 4 Well avg Curve 5 Well avg Average 30 day initial production (bbls/day) 1,100…
  8. US BAKKEN – Enerplus Corp – slide 8
    Fort Berthold Results Long laterals are 35% ahead of the average type well prediction Short laterals are 45% ahead of the average type well prediction cumulative short type well cumulative long type well days producing Barrells boe…
  9. US BAKKEN – Enerplus Corp – slide 9
    Enerplus Well Design Methodology Typical rigs are 1,000 1,600 hp with top drive to improve performance; 2 of 4 drilling rigs in fleet are self moving (walkers) Measured depth of wells are 20,000 (TVD 10,700) and drill in…
  10. US BAKKEN – Enerplus Corp – slide 10
    Fort Berthold Well Costs Total Cost 8.5 MM Total Cost 5.7 MM Completions - 125,000 lbs of proppant/stage, 1.3 - 1.5 MM for ceramic proppant - Water: 2,500 3,000 bbls/stage, 3 - 6/bbl for trucking & disposal fees Tie-in -…
  11. US BAKKEN – Enerplus Corp – slide 11
    Current Development Plans 1280 acres B TF B TF Maximize long horizontals Develop from pads: 2 Bakken/2 Three Forks 1320 1320 1320 Tie in as soon as possible Test inter-well spacing Work with other operators to time development…
  12. US BAKKEN – Enerplus Corp – slide 12
    Well Timeline 10 12 months Well application / permit Waiting on Frac Site Build Drilling Fracing approval Crews 4-6 months 1 month 1 month /well 2 months 1-2 weeks Environmental assessment Cannot begin Multi-well required on…
  13. US BAKKEN – Enerplus Corp – slide 13
    2011 Fort Berthold Bakken Plans 2011 capital program - 230 million 32 net operated wells, 75% long horizontals Targeting Bakken primarily; 3 to 8 Three Forks wells planned Production 3 to 4 rigs working in the play grows from…
  14. US BAKKEN – Enerplus Corp – slide 14
    Execution Capability 4 rigs under contract 2 active at present; 2 moving in March / April, conditions permitting Upgrading process 2 walkers focused on pad drilling Expect to sign at least one incremental rig by September Frac…
  15. US BAKKEN – Enerplus Corp – slide 15
    Fort Berthold Production - Gathering Enerplus has committed to a field gathering system at the Fort Berthold Reservation which will: Aggregate production at a central collection point off the Reservation that will provide flexible…
  16. US BAKKEN – Enerplus Corp – slide 16
    U.S. Bakken Infrastructure Capacity 800,000 Current U.S. Bakken Plains Bakken Proposal 700,000 Keystone XL Market Link 50k production is 400 600,000 100k MBOE/day Belle Fourche Proposal Enbridge Bakken 60k 500 MBOE/day in 2011…
  17. US BAKKEN – Enerplus Corp – slide 17
    Fort Berthold Production Enerplus Regional Transportation Current Transportation / Sales Arrangements in Place for Fort Berthold Development 25 Middle Pace (6 Rigs) 25 Basic 4 Rig Program 20 20 / day bbls/day 15 15 3rd…
  18. US BAKKEN – Enerplus Corp – slide 18
    Sleeping Giant Overview Key Facts Net Acreage 45,000 acres Current Production 7,800 BOE/day P+P Reserves (Dec. 31, 2010) 33.1 million BOE 2011 Capital Plans 22.4 million 4 net wells Acquired in 2005 Producing 42 light sweet…
  19. US BAKKEN – Enerplus Corp – slide 19
    Sleeping Giant Technology Enhancing Results Normalized Type Well Performance (3rd Wells per Section) Sleeping Giant 400 Average Type Performance - New Style Completions - Multi-Stage Frac AverageType Performance - Old Style…
  20. US BAKKEN – Enerplus Corp – slide 20
    U.S. Bakken Summary Strategic asset for Enerplus for near-term growth and cash flow Economics are best in our portfolio Execution capability is critical Three Forks potential Managing the challenges while growing our…

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