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Corporate Presentation – Spyglass Resources Corp.

Spyglass Resources Corp. · Dec 1, 2014 · 25 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 – Spyglass Resources Corp. – slide 1
    Intermediate, Commodity Balanced Resource Company Corporate Presentation December 2014
  2. Corporate Presentation – Spyglass Resources Corp. – slide 2
    Strategic Path Forward Execute additional non-core dispositions to further reduce leverage Target a debt to cash flow ratio that is competitive with our peers Focus on development of organic growth opportunities with significant…
  3. Corporate Presentation – Spyglass Resources Corp. – slide 3
    Low Decline, Long Life Assets 10,000 boe/d 2015 production guidance 21 % base decline Organic growth potential driven by southern Alberta light oil plays 4
  4. Corporate Presentation – Spyglass Resources Corp. – slide 4
    Core Focus Areas Low Decline and Balanced Production Corporate: Dixonville: Q3 2014 production: 1,437 boe/d Q3 2014 average production: 13,518 boe/d Base decline rate: 10% Oil & Liquids 40% Oil & Liquids 82% Base decline rate: 21% Key…
  5. Corporate Presentation – Spyglass Resources Corp. – slide 5
    2015 Capital Program 2015 Drilling Focus Retlaw / Enchant Glauconitic and Upper Manville oil development with gas optionality Matziwn Pekisko and Glauconite oil development 2015 Capital Budget will be adjusted as appropriate to…
  6. Corporate Presentation – Spyglass Resources Corp. – slide 6
    Drilling Inventory: Development Portfolio 5 15 Loc 15 30 Loc SAB MNVL Drilling Inventory CH 2014 Play Additions 30 50 Loc NOEL CENTRAL MATZIWIN PEKISKO 50 + Loc CADOMIN VIKING Lowest Risk Highest Risk…
  7. Corporate Presentation – Spyglass Resources Corp. – slide 7
    Southern Alberta Current success drives future organic growth 8
  8. Corporate Presentation – Spyglass Resources Corp. – slide 8
    Southern Alberta Asset Overview DRUMHELLER Same play types across 4 key MATZIWIN areas Matziwn - continued Pekisko development CESSFORD Cessford encouraging drilling results within Banff and Glauconite Drumheller new core…
  9. Corporate Presentation – Spyglass Resources Corp. – slide 9
    Matziwin and Cessford Crude Oil Development Area Resource Banff, Pekisko and Glauconite zones 61,000 net undeveloped acres 100% working interest 23 - 28 API oil gravity CESSFORD 60 100 plus net well locations Glauconite…
  10. Corporate Presentation – Spyglass Resources Corp. – slide 10
    Retlaw / Enchant Glauconite and Upper Mannville Resource 20 plus net vertical and horizontal locations 33% - 100% working interest 20 - 27 API oil gravity 11
  11. Corporate Presentation – Spyglass Resources Corp. – slide 11
    Drumheller Banff, Detrital and Basal Quartz Early Stage Play Development Large future development potential Lands continued by production Banff, Detrital and Basal Quartz offsetting production Bypassed oil pay identified in…
  12. Corporate Presentation – Spyglass Resources Corp. – slide 12
    Dixonville Mature, low-decline, high netback oil asset 13
  13. Corporate Presentation – Spyglass Resources Corp. – slide 13
    Dixonville Asset Overview Stable Production Excellent Cash Flow DIXONVILLE OOIP(1) [MMBBL] 188 Total Proved + Probable [%] 15.4 Recovery(1) Recovery to date(1) [%] 4.6 Recently sold 50% non-operated working interest in the…
  14. Corporate Presentation – Spyglass Resources Corp. – slide 14
    Dixonville Waterflood Development History Hines Creek Graben North Wall Phase 2 Phase 3 Mar. 2010 Dec. 2010 Phase 4 Montney C Pool Outline Sept. 2012 Phase 1 July 2006 Phase 5 Q4 2012 Expansion Sept 2006 Spyglass…
  15. Corporate Presentation – Spyglass Resources Corp. – slide 15
    Dixonville Field History Dixonville Pipeline Incidents Current Production at 2,500 boe/d(1) Low future development capital = Strong free cash flow generation 16 (1) As at December 11, 2014
  16. Corporate Presentation – Spyglass Resources Corp. – slide 16
    Managing Commodity Price Volatility Natural Gas Hedging Crude Oil Hedging(1) 3,000 102.00 30,000 4.40 2,500 25,000 99.00 4.20 2,000 Bbls/d Mcf/d 20,000 4.00 1,500 96.00 15,000 3.80 1,000 10,000 3.60…
  17. Corporate Presentation – Spyglass Resources Corp. – slide 17
    Mature, low-decline base with organic growth opportunity Extensive inventory of low-risk, light-oil development key to long-term value creation Southern Alberta properties driving organic growth Encouraging drilling results in…
  18. Corporate Presentation – Spyglass Resources Corp. – slide 18
    Appendix 19
  19. Corporate Presentation – Spyglass Resources Corp. – slide 19
    Experienced Leadership Management Team Board of Directors Dan OByrne, P.Eng, MBA President, CEO & Director Tom Buchanan, FCA Chairman Mark Walker, CMA Senior VP Finance & CFO Randy Findlay, P.Eng Lead Director Kelly Cowan Senior VP…
  20. Corporate Presentation – Spyglass Resources Corp. – slide 20
    Underpinning the Model Low Decline, Balanced Production Base Q3 2014 Q3 2014 Production (boe/d) Est. Base Production Decline Core Area (boe/d) Oil & Liquids Rate Southern AB 4,952 53% 23% Provost-Halkirk Dixonville 1,437 82% 10% 5%…
  21. Corporate Presentation – Spyglass Resources Corp. – slide 21
    Low Risk, High Return Development Portfolio Development Plays 30 day 1st yr Op 1st yr NPV at Capital F&D Unrisked Single Well Economic EUR Capex IP Costs Netback 10% Efficiency IRR Costs Indicators(1) (Mboe) (MM) % Oil (boe/d) (/boe)…
  22. Corporate Presentation – Spyglass Resources Corp. – slide 22
    Key Attributes & Outlook Operational 2014 Guidance Q3 2014 Production [boe/d] 13,518 2014 Average Production [boe/d] 14,000 boe/d % Oil & Liquids [%] 40% 2014 Capital Expenditures, prior to dispositions [MM] 77 (1) Total Proved…
  23. Corporate Presentation – Spyglass Resources Corp. – slide 23
    Halkirk Provost Asset Overview 2014 10 well drilling program completed HALKIRK 2014 DRILLS Halkirk-Provost Q3 2014 Results Production [boe/d] 654 % Oil & liquids [%] 63% BROWNSTONE Base Decline Rate [%] 35% Assumption…
  24. Corporate Presentation – Spyglass Resources Corp. – slide 24
    Noel Cadomin Resource Play Over 85 prospective locations Locations are low risk infill or extensions to a well established gas play Potential to add over 200 bcf of reserves High initial production rates Ample infrastructure…
  25. Corporate Presentation – Spyglass Resources Corp. – slide 25
    Corporate Information Lead Bankers: National Bank of Canada Legal Counsel: Blakes, Cassels & Graydon LLP Toronto Dominion Bank Norton Rose Canada LLP Transfer Agent: Computershare Trust Company of Canada Analyst Coverage: AltaCorp…

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