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CORPORATE PRESENTATION – Triangle Petroleum Corp

Triangle Petroleum Corp · Feb 1, 2014 · 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. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 1
    CORPORATE PRESENTATION February 2014
  2. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 2
    TABLE OF CONTENTS Business Overview 4 Operational Overview 8 Financial Overview 14 Appendix 20
  3. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 3
    BUSINESS OVERVIEW
  4. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 4
    TRIANGLE PETROLEUM CORPORATION OVERVIEW BUSINESS OVERVIEW TPC wholly owned E&P subsidiary Growth oriented E&P company focused on the Williston Basin 94,000 net acres with production rate of 7,400+ Boepd(1) and proved reserves…
  5. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 5
    BUSINESS OVERVIEW KEY INVESTMENT HIGHLIGHTS SUBSTANTIAL GROWTH Production and reserves have increased 390% and 293%,respectively, year over year IN OPERATED 59% increased production rate from Q2 FY14 to Q3 FY14 PRODUCTION AND…
  6. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 6
    BUSINESS OVERVIEW SIGNIFICANT OPERATED PRODUCTION AND RESERVES GROWTH NET SOLD PRODUCTION VOLUMES (BOEPD) 12,000 Previously 11,500 10 FY2015 Avg. Daily Production Guidance(1) 7,000 8,000 Boepd 9,500 10,500 Boepd (FY2014 Guidance…
  7. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 7
    OPERATIONAL OVERVIEW
  8. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 8
    OPERATIONAL OVERVIEW TRIANGLE USA CORE AREA MCKENZIE AND WILLIAMS COUNTIES RECENT DEVELOPMENTS ASSET MAP WITH DOWNSPACING AND THREE FORKS ACTIVITY 52 gross operated wells currently producing and 5 wells waiting on completion(1)…
  9. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 9
    OPERATIONAL OVERVIEW DRILLING AND PRODUCTION PROFILE TUSA OPERATED WELLS COMPLETED (GROSS VS. NET)(1) HIGHLIGHTS 10 9.0 Decreasing spud to total depth days; average of 23 8.0 Wells Completed 8 6.0 6.0 6.3 days for Q3 FY14…
  10. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 10
    OPERATIONAL OVERVIEW E&P REDUCING COSTS, INCREASING MARGINS HIGHLIGHTS OPERATED WELL PERFORMANCE(1) Anticipate improvement in differential and 849 Q3 FY'14 758 increase in realized oil price once Calibers 532 674 crude oil…
  11. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 11
    OPERATIONAL OVERVIEW 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…
  12. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 12
    OPERATIONAL OVERVIEW CALIBER MIDSTREAM Caliber Midstream Partners, LP is focused on providing gathering, transportation and processing in the Williston Basin All business lines are currently operational, with the natural gas…
  13. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 13
    FINANCIAL OVERVIEW
  14. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 14
    FINANCIAL OVERVIEW STAND-ALONE BUSINESS SEGMENT FINANCIAL RESULTS TUSA HISTORICAL REVENUE(1) TUSA HISTORICAL ADJUSTED EBITDA(2) 60.0 50.0 EBITDA (mm) Revenue (mm) 40.0 40.0 30.0 55.5 20.0 40.5 20.0 34.6 26.3 10.0…
  15. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 15
    FINANCIAL OVERVIEW CURRENT POSITION CURRENT POSITION LIQUIDITY PROFILE (MM) Share Price (as of February 27, 2014) 8.94 Total Cash (as of October 31, 2013) 100 90-day % Change -15.8% TUSA Credit Facility Availability (as of October…
  16. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 16
    FINANCIAL OVERVIEW STAND-ALONE CAPITAL BUDGET FOR FY2015 (ENDED JANUARY 31, 2015) BUDGET DETAIL Capital Expenses FY2015 Budget (mm) E&P Operated Drilling Program(1) 360 E&P Non-Operated Drilling Program 45 Station Prospect(2) 10…
  17. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 17
    FINANCIAL OVERVIEW STAND-ALONE BUSINESS SEGMENT GUIDANCE TUSA Stand-alone(1) RPES Stand-alone(2) CLBR Stand-alone(3) Adj. EBITDA Adj. EBITDA Adj. EBITDA Period Revenue (mm) Revenue (mm) Revenue (mm) (mm) (mm) 2H FY15 155 - 170…
  18. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 18
    FINANCIAL OVERVIEW RISK MANAGEMENT KEY HIGHLIGHTS HEDGE POSITION 5,000 Costless Collar Volume Swap Volume Actively hedging to protect present and FY15 Collars 4,000 100 Ceiling future cash flows through the use of zero 85 Floor…
  19. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 19
    APPENDIX a) RockPile: Vertical Integration Profile b) Caliber: Vertical Integration Profile c) Montana Station Prospect d) Historical Financials
  20. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 20
    APPENDIX ROCKPILE: VERTICAL INTEGRATION PROFILE ROCKPILES BENEFIT TO TRIANGLE ROCKPILE ELIMINATIONS PER WELL FY14 YTD Control 100% of largest E&P cost center Net Income Elimination Capex Reduction / Well Maintain greater control…
  21. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 21
    APPENDIX CALIBER: VERTICAL INTEGRATION PROFILE CALIBERS BENEFIT TO TRIANGLE CALIBER IMPLIED VALUATION Secured long term gas and crude oil gathering and Peer Average 2014E EV / EBITDA(1)(2)(3) 12.3x takeaway capacity at market rates…
  22. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 22
    APPENDIX MONTANA STATION PROSPECT DETAILS 50,000 net acres; 65% operated Potential Drilling Inventory: 360 operated locations Allocating 10 million to acquire seismic data and drill and complete 3 4 exploratory wells in…
  23. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 23
    APPENDIX Q3 FY14 CONSOLIDATED INCOME STATEMENT Three Months Ended October 31, 2013 2012 Revenues Total revenues 88,549 21,300 Costs and Expenses Oil and gas operating expenses (incl. production taxes) 13,030 2,678 Pressure-pumping…
  24. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 24
    APPENDIX CONSOLIDATED ADJUSTED NET INCOME RECONCILIATION Q3 fiscal 2014 Q3 fiscal 2013 Net income (loss) as reported 17,358 (599) (Gain) loss on derivative activities (2,123) (1,401) (Income) loss on investment in marketable…
  25. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 25
    APPENDIX Q3 FY14 INTERSEGMENT TABLE RockPile's Exploration Pressure Pumping Corporate Eliminations Consolidated and Production and Other Services and Other(1) and Other Total Revenues Oil and natural gas sales 55,477 - - -…
  26. CORPORATE 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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