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Investor Presentation – Triangle Petroleum Corp

Triangle Petroleum Corp · Jun 24, 2013 · 26 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 – Triangle Petroleum Corp – slide 1
    CORPORATE PRESENTATION June 2013
  2. Investor Presentation – Triangle Petroleum Corp – slide 2
    TABLE OF CONTENTS Triangle Highlights 4 Operated Program 8 Vertical Integration 12 Financial Overview 15 Investment Highlights 19 Appendix 21
  3. Investor Presentation – Triangle Petroleum Corp – slide 3
    TRIANGLE HIGHLIGHTS
  4. Investor Presentation – Triangle Petroleum Corp – slide 4
    TRIANGLE HIGHLIGHTS TRIANGLE PETROLEUM CORPORATION TPC wholly owned E&P subsidiary TPC wholly owned energy services subsidiary TPC owns 50% of G.P. and 30% of L.P. 86,000 net acres, 60% operated PURE-PLAY WILLISTON BASIN Single…
  5. Investor Presentation – Triangle Petroleum Corp – slide 5
    TRIANGLE HIGHLIGHTS ACREAGE POSITION Nesson Anticline Core Operating Area DETAILS MCKENZIE COUNTY WILLIAMS COUNTY/OTHER CORE STATION PROSPECT (3) NET ACREAGE 22,000 14,000 50,000 PERCENT OPERATED (%) (1) 50% 64% 65% BAKKEN…
  6. Investor Presentation – Triangle Petroleum Corp – slide 6
    TRIANGLE HIGHLIGHTS PRODUCTION AND RESERVE HIGHLIGHTS NET PRODUCTION VOLUMES (BOEPD)1 FY2014 Avg. Daily Production Guidance 4,950 5,000 3,600 4,000 Boepd 10 09 4,750 4,000 8 7 3,000 2,714 6 RockPile completed 5 Completed first…
  7. Investor Presentation – Triangle Petroleum Corp – slide 7
    OPERATED PROGRAM
  8. Investor Presentation – Triangle Petroleum Corp – slide 8
    OPERATED PROGRAM MCKENZIE COUNTY CORE AREA DETAILS 22,000 net acres; 50% operated Completion: plug and perf, 100% ceramic Drilling Inventory: 114+ operated locations Currently operating 3 full-time drilling rigs and 1 part-time…
  9. Investor Presentation – Triangle Petroleum Corp – slide 9
    OPERATED PROGRAM WILLIAMS COUNTY / OTHER CORE CORE AREA DETAILS 14,000 net acres; 64% operated Completion: plug and perf, 25% ceramic Drilling Inventory: 84 operated locations 18 permits approved or submitted Average Williams…
  10. Investor Presentation – Triangle Petroleum Corp – slide 10
    OPERATED PROGRAM MONTANA STATION PROSPECT DETAILS 50,000 net acres; 65% operated Potential Drilling Inventory: 360 operated locations KEY HIGHLIGHTS Industry activity continues in offsetting townships Ongoing exploration…
  11. Investor Presentation – Triangle Petroleum Corp – slide 11
    VERTICAL INTEGRATION
  12. Investor Presentation – Triangle Petroleum Corp – slide 12
    VERTICAL INTEGRATION ROCKPILE ENERGY SERVICES RockPile Energy Services, LLC is focused on providing Best in Class pressure pumping and ancillary services in the Williston Basin EXPANDING CAPACITY AND CAPABILITIES GROSS WELLS COMPLETED…
  13. Investor Presentation – Triangle Petroleum Corp – slide 13
    VERTICAL INTEGRATION CALIBER MIDSTREAM Caliber Midstream Partners, LP is focused on providing gathering, transportation and processing in the Williston Basin MULTIPLE OPTIONS FOR OIL, INCLUDING PIPE AND RAIL GAS GOES TO MIDWEST…
  14. Investor Presentation – Triangle Petroleum Corp – slide 14
    FINANCIAL OVERVIEW
  15. Investor Presentation – Triangle Petroleum Corp – slide 15
    FINANCIAL OVERVIEW CURRENT POSITION CURRENT POSITION LIQUIDITY PROFILE Share Price (as of June 17, 2013) 7.41 Total Cash (as of April 30, 2013) 54 90-day % Change 9.5% Revolver Availability (as of April 30, 2013) 49 Shares…
  16. Investor Presentation – Triangle Petroleum Corp – slide 16
    FINANCIAL OVERVIEW FY2014 CAPITAL BUDGET BUDGET DETAIL Capital Expenses FY2014 Capex Budget (mm) TUSA 3-Rig Operated Drilling Program 165 TUSA Non-Operated Drilling Program 27 TUSA Land Spend 6 Infrastructure 15 RockPile 20 Variance…
  17. Investor Presentation – Triangle Petroleum Corp – slide 17
    FINANCIAL OVERVIEW STAND ALONE BUSINESS SEGMENT FINANCIAL RESULTS AND GUIDANCE STAND ALONE VS. CONSOLIDATED REVENUE GROWTH 60.0 Triangle USA RockPile Stand Alone RockPile Consolidated Caliber 50.0 0.9 Revenue (mm) 40.0 26.9…
  18. Investor Presentation – Triangle Petroleum Corp – slide 18
    INVESTMENT HIGHLIGHTS
  19. Investor Presentation – Triangle Petroleum Corp – slide 19
    INVESTMENT HIGHLIGHTS TRIANGLE PETROLEUM INVESTMENT HIGHLIGHTS Single-basin strategy with a scalable position Balanced portfolio of low-risk development opportunities and exploration upside Vertical integration facilitating…
  20. Investor Presentation – Triangle Petroleum Corp – slide 20
    APPENDIX
  21. Investor Presentation – Triangle Petroleum Corp – slide 21
    APPENDIX SUM-OF-THE-PARTS ANALYSIS TRIANGLE USA (E&P) ROCKPILE ENERGY SERVICES Q4 FY 2014 estimated average production: 4,800 Q4 FY 2014 estimated annualized EBITDA of 54 Boepd million3 80,000 per flowing barrel1 = 384 million…
  22. Investor Presentation – Triangle Petroleum Corp – slide 22
    APPENDIX ROCKPILE ENERGY SERVICES IMPLIED VALUATION EV/EBITDA MULTIPLE VALUATION Low Case Average Case High Case RockPile Energy Services Q4 FY 2014 estimated annualized Peer EV/EBITDA 4.0x 5.1x 6.6x EBITDA of approximately 54…
  23. Investor Presentation – Triangle Petroleum Corp – slide 23
    APPENDIX CALIBER MIDSTREAM IMPLIED VALUATION EV/EBITDA MULTIPLE VALUATION Low Case Average Case High Case Caliber Midstream Q4 FY 2014 estimated annualized Peer EV/EBITDA 9.1x 13.3x 20.8x EBITDA of 31 million1, or 9 million net to…
  24. Investor Presentation – Triangle Petroleum Corp – slide 24
    1Q FY2014 INTERSEGMENT TABLE APPENDIX Corporate and Exploration and Pressure Pumping Eliminations and Other 1 Production Services Other Consolidated Total Revenues Oil and natural gas sales - 21,060 - - 21,060 Pressure-pumping…
  25. Investor Presentation – Triangle Petroleum Corp – slide 25
    APPENDIX: HEDGE REVIEW RISK MANAGEMENT TRIANGLE STANDARD HEDGING PROGRAM Hedge Period Volume (Bopd) Days Remain Total Volumes Floor Avg. Ceiling Calendar-month-average swap zero cost collar Cal 13 500 196 182,500 85.00 104.30…
  26. Investor Presentation – Triangle Petroleum Corp – slide 26
    USE OF SEGMENT INFORMATION AND NON-GAAP MEASURES 1) The Company often provides financial metrics for each of Triangles three segments of operation. Revenues for each segment are disclosed in notes to the financial statements contained…

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