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CORPORATE PRESENTATION – Triangle Petroleum Corp

Triangle Petroleum Corp · Oct 31, 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. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 1
    CORPORATE PRESENTATION October 2013
  2. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 2
    TABLE OF CONTENTS Business Overview 4 Operational Overview 9 Financial Overview 13 Appendix 19
  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 95,000 net acres, with current production rate of 6,500 Boepd and proved…
  5. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 5
    BUSINESS OVERVIEW KEY INVESTMENT HIGHLIGHTS SUBSTANTIAL Production and reserves have increased 283% and 303%(1),respectively, in the last year GROWTH IN OPERATED 58% increased production rate from Q1 FY14 to Q2 FY14 PRODUCTION…
  6. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 6
    BUSINESS OVERVIEW OIL-FOCUSED SINGLE BASIN OPERATOR KEY HIGHLIGHTS ASSET MAP Concentrated acreage in core area of Williston Basin 45,000 net acres primarily in McKenzie and Williams counties Williston Basin in the early stages of…
  7. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 7
    BUSINESS OVERVIEW SIGNIFICANT OPERATED PRODUCTION AND RESERVES GROWTH NET PRODUCTION VOLUMES (BOEPD)(1)(2) 10,000 FY2014 Avg. Daily Production Guidance 10 4,750 5,350 Boepd Net Sales Volumes (Boepd) 8,000 8,000 Consensus…
  8. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 8
    OPERATIONAL OVERVIEW
  9. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 9
    OPERATIONAL OVERVIEW TRIANGLE USA CORE AREA MCKENZIE AND WILLIAMS COUNTIES CURRENT DEVELOPMENT TUSA OPERATED WELLS COMPLETED (GROSS VS. NET) 10 Currently operating 3 full-time drilling rigs 8.0 Wells Completed 8 Plug and…
  10. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 10
    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…
  11. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 11
    OPERATIONAL OVERVIEW CALIBER MIDSTREAM Caliber Midstream Partners, LP is focused on providing gathering, transportation and processing in the Williston Basin OPERATIONS UPDATE Crude gathering and stabilization pipeline and…
  12. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 12
    FINANCIAL OVERVIEW
  13. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 13
    FINANCIAL OVERVIEW STAND-ALONE BUSINESS SEGMENT FINANCIAL RESULTS AND GUIDANCE TUSA HISTORICAL REVENUE(1) TUSA HISTORICAL ADJUSTED EBITDA(2) 60.0 80.0 50.0 Revenue (mm) Revenue (mm) 60.0 40.0 40.0 36.0 20.0 46.0 20.0…
  14. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 14
    FINANCIAL OVERVIEW CURRENT POSITION CURRENT POSITION LIQUIDITY PROFILE (MM)(2)(3) Share Price (as of September 27, 2013) 9.70 90-day % Change +38.4% Pro Forma Total Cash (as of July 31, 2013) 129 (1) Shares Outstanding (mm) 85.4…
  15. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 15
    FINANCIAL OVERVIEW FY2014 CAPITAL BUDGET (ENDED JANUARY 31, 2014) BUDGET DETAIL FY2014 Budget (mm) Capital Expenses Low Case High Case TUSA Drilling Program(1) 285 - 305 TUSA Land Spend 110 - 120 Infrastructure(2) 15 - 20…
  16. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 16
    FINANCIAL OVERVIEW STAND-ALONE BUSINESS SEGMENT FINANCIAL RESULTS AND GUIDANCE STAND-ALONE VS. CONSOLIDATED REVENUE GROWTH 100.0 Triangle USA RockPile Stand Alone RockPile Consolidated Caliber 90.0 1.1 80.0 70.0 Revenue…
  17. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 17
    FINANCIAL OVERVIEW RISK MANAGEMENT KEY HIGHLIGHTS ZERO COST COLLAR HEDGE POSITION Actively hedging to protect present and future 4,000 104.49 120.00 99.99 cash flows through the use of zero cost collars 3,500 95.78 100.00…
  18. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 18
    APPENDIX a) Expansion of Caliber Infrastructure System b) Montana Station Prospect c) Historical Financials d) RockPile Energy Services and Caliber Midstream Implied Valuations
  19. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 19
    APPENDIX EXPANSION OF CALIBER INFRASTRUCTURE SYSTEM On September 16, 2013, Triangle announced that it has signed definitive agreements with joint venture partner First Reserve Corporation's Energy Infrastructure Fund (FREIF) to expand…
  20. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 20
    APPENDIX MONTANA STATION PROSPECT DETAILS 50,000 net acres; 65% operated Potential Drilling Inventory: 360 operated locations Anticipate allocating 10 million to drill and complete 3 4 exploratory wells in FY15 KEY…
  21. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 21
    APPENDIX Q2 FY14 CONSOLIDATED INCOME STATEMENT Three Months Ended July 31, 2013 2012 Revenues Total revenues 50,394 10,258 Costs and Expenses Oil and gas operating expenses (incl. production taxes) 6,818 1,084 Pressure-pumping…
  22. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 22
    APPENDIX CONSOLIDATED ADJUSTED NET INCOME RECONCILIATION Q2 fiscal 2014 Q2 fiscal 2013 Net Income (Loss) as reported 6,799 (953) (Gain) loss on derivative activities 4,399 - Unrealized (income) loss on securities held for investment…
  23. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 23
    APPENDIX Q2 FY14 INTERSEGMENT TABLE RockPile's Exploration Pressure Pumping Corporate Eliminations Consolidated and Production and Other Services and Other(a) and Other Total Revenues Oil and natural gas sales 34,639 - - -…
  24. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 24
    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 5.4x 6.6x EBITDA of approximately 54…
  25. CORPORATE PRESENTATION – Triangle Petroleum Corp – slide 25
    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 10.1x 15.4x 21.7x EBITDA of 31 million(1), or 9 million net…
  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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