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INVESTOR PRESENTATION – Sundance Energy Australia Limited

Sundance Energy Australia Limited · Mar 1, 2015 · 22 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. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 1
    Investor Presentation March 2015 1 www.sundanceenergy.net
  2. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 2
    Company overview Eagle Ford focused asset base Greater Anadarko Mississippian / Woodford Net acres: 31,000 1P reserves: 7.8 mmboe(2) Production: 1,522 boed % operated: 61.8% % WI: 43.2% Counties: Logan, Noble and Garfield…
  3. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 3
    Operating strategy Cost driven strategy that will create superior shareholder returns Maximize balance sheet flexibility Low leverage profile…
  4. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 4
    Track record of growth Average daily production (boed/6:1) and revenue EBITDAX and EBITDAX margin 10,000 50,000 40,000 100% 35,000 8,000 40,000 80% 30,000 6,000 30,000 25,000 60% 20,000 4,000 20,000 15,000 40% 2,000 10,000…
  5. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 5
    Track record of value creation Cash proceeds of 167MM from 3 asset sales in 9 months prior to price decline Transaction Prospect Basin Date Value IRR Comments (US) Acquired Wattenberg in 2011/2012 DJ Basin assets July DJ 116MM…
  6. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 6
    Top 25% field costs in 2014 40.00 35.00 30.00 25.00 Cost per boe 20.00 15.00 9.84 10.00 5.00 - Peer group includes Abraxas Petroleum, Antero Resources, Approach Resources, Bill Barrett Corp, Bonanza…
  7. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 7
    Top 15% in total cash costs in 2014 80.00 70.00 60.00 50.00 Cost per boe 40.00 30.00 18.46 20.00 10.00 - Peer group includes Abraxas Petroleum, Antero Resources, Approach Resources, Bill Barrett Corp,…
  8. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 8
    Top 15% EBITDAX margin in 2014 90% 77% 80% 70% 60% EBITDA % 50% 40% 30% 20% 10% 0% Peer group includes Abraxas Petroleum, Antero Resources, Approach Resources, Bill Barrett Corp, Bonanza Creek Energy, Cabot…
  9. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 9
    Lowest 15% debt to EBITDAX at 31 December 2014 7.0 6.0 5.0 Debt to EBITDA 4.0 3.0 2.0 1.1x 1.0 - Peer group includes Abraxas Petroleum, Antero Resources, Approach Resources, Bill Barrett Corp, Bonanza Creek…
  10. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 10
    Top 20% development economics at January 2015 strip IRR at the Strip IRR -20% Cost Deflation 50% 46% 45% 39% 38% 40% 34% 33% 32% 35% 32% 31% 30% 29% 27% 27% 30% 26% 26% 26% 26% 23% 23% 23%…
  11. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 11
    Core Eagle Ford assets drive growth through cycles 33,000 net mineral acres targeting the Eagle Ford Eagle Ford operator with substantial, high-quality drilling inventory and significant production growth profile 38,500 net acre…
  12. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 12
    Dimmit County Eagle Ford Initial well results tracking 3P type curve Normalized (5000') Dimmit Well Performance 45000 6000 40000 5000 35000 30000 4000 Cumulative Oil Average GOR 25000 3000 20000 15000 2000 Pump…
  13. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 13
    Eagle Ford portfolio return sensitivities Average Netherland Sewell & Associates 2P type curve(1) McMullen County Eagle Ford Dimmit County Eagle Ford NSAI 2P Type Curve NSAI 2P Type Curve 347.5 mbo, 57.5 mbngl, 624.5 mcf 268.7 mbo,…
  14. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 14
    Summary Track record of capital efficient growth Track record of value creation Low cost/high margin operator Top tier Eagle Ford assets with extensive drilling inventory Clean balance sheet 17
  15. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 15
    Appendix 18 www.sundanceenergy.net
  16. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 16
    Bottom tier reserve valuations EV/Proved boe (6:1) EV/SEC Proved PV10 30.00 1.8x 1.6x 25.00 1.4x 20.00 1.2x 1.0x 15.00 0.8x 10.00 0.6x 0.4x 5.00 0.2x 0.00 0.0x Diversified oil: Newfield Exploration, EP Energy, Denbury…
  17. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 17
    Bottom tier production valuation EV/2014E production (boepd/6:1) EV/2015E production (boepd/6:1) 120,000 120,000 100,000 100,000 80,000 80,000 60,000 60,000 40,000 40,000 20,000 20,000 0 0 Diversified oil: Newfield…
  18. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 18
    Lowest peer EBITDA valuation EV/2014E EBITDA EV/2015E EBITDA 12.0x 9.0x 8.0x 10.0x 7.0x 8.0x 6.0x 5.0x 6.0x 4.0x 4.0x 3.0x 2.0x 2.0x 1.0x 0.0x 0.0x Diversified oil: Newfield Exploration, EP Energy, Denbury Resources,…
  19. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 19
    SEC Case Reserve Report Prepared by Netherland Sewell and Associates (1) Sundance Total Oil (mbbls) NGL (mbbls) Gas (mmcf) Mboe PV10 (USMM) PV10 (AMM) Proved Developed Producing 6,124 1,801 12,364 9,986 337.9 414.2 Proved Undeveloped…
  20. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 20
    Strip Case Reserve Report Period Oil price/bbl Gas price/mmbtu 2/28/2015 53.27 2.889 3/31/2015 53.70 2.896 4/30/2015 54.26 2.881 Sundance Total Mboe PV10 (USMM) PV10 (AMM) 5/31/2015 54.96 2.904 Proved Developed Producing 9,649 218…
  21. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 21
    Reserve report footnotes and definitions Operating costs used in this report are based on operating expense records of Sundance. Capital costs used in this report were provided by Sundance and are based on authorizations for…
  22. INVESTOR PRESENTATION – Sundance Energy Australia Limited – slide 22
    Peer Group FY2014 unless otherwise noted Enterprise Market Enterprise Market BOEPD % Liquids 1P MMBOE Value1 Cap 1 Ticker BOEPD % Liquids 1P MMBOE Value 1 Cap 1 Ticker 6 6 Abraxas Petroleum 5,429 74% 42 420 327 AXAS Midstates…

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