The newest PowerPoint slidedeck from MHR detailing results from 2014 and plans for 2015. MHR is focused almost totally on the Marcellus and Utica Shale, with very small operations also in the Bakken Shale region.
Nal energy corporate presentation - january 2012NALenergy
This corporate presentation provides an overview of NAL Energy Corporation for January 2012. Some key points include:
- NAL is a Canadian energy company with a $1.1 billion market capitalization that pays a monthly dividend of $0.05 per share.
- The company's strategic direction focuses on being a dividend-paying exploration and production company that aims to maximize cash flow through adding liquids opportunities and operating efficiently.
- NAL's 2012 corporate plan centers around growing its liquids volumes, focusing capital on high-return projects, and maintaining financial flexibility.
April 2013 Champion Corporate Presentation - EnglishChampionMines
The document discusses plans to build a major new iron ore mine in the Labrador Trough region. It provides an overview of Champion Iron Mines' flagship Consolidated Fire Lake North Project, which has over 5 billion tonnes of mineral resources as per a preliminary feasibility study. The study indicates the mine would produce an average of 9.3 million tonnes per year of iron concentrate over a 20-year mine life, with a net present value of $3.3 billion. The project benefits from established infrastructure including rail, power and the Port of Sept-Îles.
May 2013 Champion Corporate Presentation - EnglishChampionMines
The document discusses plans to build a major new iron ore mine in the Labrador Trough region. It summarizes a preliminary feasibility study conducted for the Consolidated Fire Lake North Project, which indicated an average annual production rate of 9.3 million tonnes of iron concentrate over 20 years. Key highlights include an after-tax IRR of 30.9%, net present value of $3.3 billion, and payback period of 3.4 years. The project would utilize existing rail, power and port infrastructure in the established Fermont Iron Ore District.
The document provides an overview of Antero Resources Corporation. It discusses Antero's position as a "pure play" on the Marcellus and Utica Shales, with over 35 trillion cubic feet equivalent of reserves across the two shale plays. It also notes Antero's industry-leading growth rate, capital efficiency, and hedge position. The summary highlights Antero's large acreage position across the Marcellus and Utica Shales and significant focus on increasing liquids production and securing firm transportation for gas and liquids.
PowerPoint slide deck from Cabot Oil & Gas updating investors on the company's recent history and future plans. Cabot is the premier Marcellus Shale gas producer in the "dry gas" area of northeastern Pennsylvania (Susquehanna County). This update highlights a new 10-well pad producing over 200 million cubic feet of natural gas per day--simply astonishing. A lot of other great information in this presentation.
Capital Power March 2016 Investor PresentationCapital Power
This document provides an overview and summary of Capital Power's presentation to investors in March 2016. It discusses:
- The Alberta Climate Leadership Plan including the carbon price, accelerated phase-out of coal by 2030, and renewable energy incentives.
- The expected financial impacts of the plan on Capital Power, including higher compliance costs offset by higher power prices and utilization of carbon credits through 2020.
- Capital Power's financial performance in 2015, growth opportunities, strong contracted cash flows, dividend growth targets, and financial strength.
- The outlook for the Alberta power market including modest demand growth and forecasts for higher power prices as coal is phased out.
2013 Results, Achievement of our 135 mmcfe/d Phase VI target ahead of schedule and Acceleration of our Phase VII Glacier drilling program sets a solid foundation for multi-year growth.
FLNG - Offshore Assets Development , Korea 2010 Sampe PurbaSampe Purba
Sampe L. Purba, VP of Program and Budgeting at BPMIGAS, presented on Indonesia's offshore gas assets, developments, and potential for FLNG. Indonesia has significant offshore shallow, deepwater, and stranded gas reserves spread across sedimentary basins. FLNG is one option to develop remote and stranded reserves. Key challenges for FLNG include liquefaction at sea, loading/offloading LNG carriers, high costs, and remote locations. Government perspectives include resource allocation, local participation, and regulatory/fiscal frameworks. Investors consider contract sanctity, returns, and integration with global operations.
Nal energy corporate presentation - january 2012NALenergy
This corporate presentation provides an overview of NAL Energy Corporation for January 2012. Some key points include:
- NAL is a Canadian energy company with a $1.1 billion market capitalization that pays a monthly dividend of $0.05 per share.
- The company's strategic direction focuses on being a dividend-paying exploration and production company that aims to maximize cash flow through adding liquids opportunities and operating efficiently.
- NAL's 2012 corporate plan centers around growing its liquids volumes, focusing capital on high-return projects, and maintaining financial flexibility.
April 2013 Champion Corporate Presentation - EnglishChampionMines
The document discusses plans to build a major new iron ore mine in the Labrador Trough region. It provides an overview of Champion Iron Mines' flagship Consolidated Fire Lake North Project, which has over 5 billion tonnes of mineral resources as per a preliminary feasibility study. The study indicates the mine would produce an average of 9.3 million tonnes per year of iron concentrate over a 20-year mine life, with a net present value of $3.3 billion. The project benefits from established infrastructure including rail, power and the Port of Sept-Îles.
May 2013 Champion Corporate Presentation - EnglishChampionMines
The document discusses plans to build a major new iron ore mine in the Labrador Trough region. It summarizes a preliminary feasibility study conducted for the Consolidated Fire Lake North Project, which indicated an average annual production rate of 9.3 million tonnes of iron concentrate over 20 years. Key highlights include an after-tax IRR of 30.9%, net present value of $3.3 billion, and payback period of 3.4 years. The project would utilize existing rail, power and port infrastructure in the established Fermont Iron Ore District.
The document provides an overview of Antero Resources Corporation. It discusses Antero's position as a "pure play" on the Marcellus and Utica Shales, with over 35 trillion cubic feet equivalent of reserves across the two shale plays. It also notes Antero's industry-leading growth rate, capital efficiency, and hedge position. The summary highlights Antero's large acreage position across the Marcellus and Utica Shales and significant focus on increasing liquids production and securing firm transportation for gas and liquids.
PowerPoint slide deck from Cabot Oil & Gas updating investors on the company's recent history and future plans. Cabot is the premier Marcellus Shale gas producer in the "dry gas" area of northeastern Pennsylvania (Susquehanna County). This update highlights a new 10-well pad producing over 200 million cubic feet of natural gas per day--simply astonishing. A lot of other great information in this presentation.
Capital Power March 2016 Investor PresentationCapital Power
This document provides an overview and summary of Capital Power's presentation to investors in March 2016. It discusses:
- The Alberta Climate Leadership Plan including the carbon price, accelerated phase-out of coal by 2030, and renewable energy incentives.
- The expected financial impacts of the plan on Capital Power, including higher compliance costs offset by higher power prices and utilization of carbon credits through 2020.
- Capital Power's financial performance in 2015, growth opportunities, strong contracted cash flows, dividend growth targets, and financial strength.
- The outlook for the Alberta power market including modest demand growth and forecasts for higher power prices as coal is phased out.
2013 Results, Achievement of our 135 mmcfe/d Phase VI target ahead of schedule and Acceleration of our Phase VII Glacier drilling program sets a solid foundation for multi-year growth.
FLNG - Offshore Assets Development , Korea 2010 Sampe PurbaSampe Purba
Sampe L. Purba, VP of Program and Budgeting at BPMIGAS, presented on Indonesia's offshore gas assets, developments, and potential for FLNG. Indonesia has significant offshore shallow, deepwater, and stranded gas reserves spread across sedimentary basins. FLNG is one option to develop remote and stranded reserves. Key challenges for FLNG include liquefaction at sea, loading/offloading LNG carriers, high costs, and remote locations. Government perspectives include resource allocation, local participation, and regulatory/fiscal frameworks. Investors consider contract sanctity, returns, and integration with global operations.
Indonesia lng to support development of power and industry domestic sampe ...Sampe Purba
The document discusses Indonesia's efforts to meet growing domestic demand for natural gas through LNG imports and infrastructure development. It summarizes SKK Migas' role in managing upstream oil and gas to support economic growth and ensure fair returns. It also outlines Indonesia's shifting focus to gas to fuel power plants and industry, the rising gas demand projections, and plans to construct new pipelines and floating storage regasification units to deliver gas across the country.
This document provides an overview of the Canadian oil and gas industry, including key statistics and projections. It discusses the industry's importance to the Canadian economy and trade balance. It outlines the upstream, midstream, and downstream sectors. It also summarizes trends and prospects for crude oil and natural gas production, reserves, prices, exports, and consumption in Canada. The strengths, weaknesses, opportunities, and threats facing the industry are identified. Selected companies in the industry are also reviewed.
This document discusses key principles of gas field development planning. It explains that gas properties like compressibility require a direct relationship between the reservoir, wells, pipelines, and consumers. Development considers the gas drive mechanism, well spacing patterns to optimize drainage areas, withdrawal rates based on pipeline capacity and demand, and economics involving recovery factors, costs, and productive lifetime. The compressorless and compressor periods of exploitation are also outlined.
The document discusses Nigeria's Gas Flare Commercialization Program (NGFCP) and its potential impact on the domestic gas market. It provides an overview of the NGFCP, which aims to develop a framework to monetize flared gas by providing access to flare sites. It also discusses barriers to Nigeria's domestic gas industry, including infrastructure challenges, gas pricing issues, and lack of development in the downstream sector. The document recommends ways to improve the bankability and impact of the NGFCP, such as addressing infrastructure and cash flow certainty concerns, and fostering appropriate market structures to allow power companies to recover costs of procuring gas.
Dismukes jones walker_banking_presentation_08-31-10Jordan Lane
The document discusses the economic importance and trends of offshore oil and gas production in the Gulf of Mexico. It notes that in 2008, over 420 million barrels of oil and 2.4 trillion cubic feet of natural gas were produced in the Gulf of Mexico, employing over 200,000 workers. Deepwater areas have increasingly contributed to production, with water depths now exceeding 9,500 feet. The deepwater and ultra-deepwater structures and wells require over $1.5 billion in investments. However, the 2010 Deepwater Horizon oil spill led to a drilling moratorium that reduced Gulf of Mexico rig counts and risks long-term impacts on investment and employment across the Gulf Coast region.
- Bluestone Resources Inc. is focused on developing its Cerro Blanco gold project and Mita Geothermal project in Guatemala.
- A feasibility study for the Cerro Blanco project outlines average annual gold production of 113,000oz over 8 years at an AISC of $579/oz and after-tax NPV of $241M.
- The analyst maintains a speculative buy rating and price target of C$3.00 based on a valuation of $380M for Cerro Blanco plus other assets. Near-term catalysts include resource updates and a production decision in 2019.
Aug. 2013 Champion Corporate Presentation - EnglishChampionMines
The document provides an overview of Champion Iron Mines Ltd.'s plans to build a major new iron ore mine, the Consolidated Fire Lake North Project, in the Labrador Trough region of Canada. Key details include a preliminary feasibility study indicating average annual production of 9.3 million tonnes of iron concentrate over 20 years. The project benefits from established infrastructure in the region including rail lines and the Port of Sept-Îles. The company has over 5 billion tonnes of mineral resources across its properties in the region positioning it for long-term growth.
Oil Producers Turn Wellhead Flare Gas Headaches into BenefitsStephen Rach
Berg Chilling Systems Inc. and GTUIT have teamed up to launch GTUIT Core System, a game changing solution to the wellhead gas challenge. GTUIT Core enables oil producers to reduce environmental impact of their operations, reduce production costs and increase revenue.
AmericaCNG offers oil producers a solution to deal with natural gas that is currently being flared at wellheads due to a lack of pipeline infrastructure. They provide portable natural gas liquid separation and liquefaction units that extract liquids and convert gas to LNG at the wellhead. This allows producers to realize value from natural gas resources and comply with regulations limiting gas flaring, while AmericaCNG transports extracted liquids and LNG to market. AmericaCNG's equipment and services require no upfront capital costs for producers and provide income through payments based on natural gas liquid production.
The document provides an annual results presentation for 2012 that summarizes the company's strategy, highlights for the year, reviews performance by business unit, and discusses key developments and exploration activities. The company delivered on its strategy of focusing on high-quality, high-return developments and acquisitions in core areas. Notable achievements in 2012 included sanctioning four major projects, progressing the Catcher development, and adding prospective resources through new exploration acreage. Production increased 43% to 57.7 kboepd, and the portfolio of reserves and resources continued expanding.
The document provides an update on Agnico-Eagle Mines' operations for August 18, 2011. It summarizes production highlights and challenges at each of its mine sites, including steady performance but narrow stopes at LaRonde, record throughput but soil subsidence issues at Goldex, continued strong performance at Lapa, and improvements in throughput and cost reductions at Meadowbank following the start-up of its secondary crushing plant. Exploration results are also promising at depth for Goldex and Meliadine. Challenges discussed include mining conditions, water management, and high costs.
The PowerPoint slide presentation used during an analyst phone conference in May 2014 for Gulfport Energy. Of most interest to MDN is the Utica Shale Update section--an extensive section from page 11 through page 21.
Cabot oil and gas jp morgan presentation - june 2016Steve Wittrig
Cabot Oil & Gas provides an overview of its operations and financial results. In 2015, Cabot produced 602.5 Bcfe, an increase of 13% over 2014, and had year-end proved reserves of 8.2 Tcfe, an increase of 11%. For 2016, Cabot expects production growth of 2-7% while significantly reducing its capital budget to $325 million, down 58% from 2015. Cabot has a large inventory of low-risk drilling opportunities in the Marcellus and Eagle Ford shales and a conservative financial position with low leverage.
This presentation provides an overview of Great Panther Silver Limited, a primary silver producer with two mines in Mexico and an acquisition in Peru. It summarizes Great Panther's recent financial and production results, guidance for 2017, growth strategy through organic expansion and acquisition, and highlights key assets including the Guanajuato Mine Complex and Topia Mine in Mexico and the Coricancha Mine Complex acquisition in Peru. The presentation is intended to provide investors with information on Great Panther's business and outlook.
This presentation provides an overview of Great Panther Silver Limited, a primary silver producer with two mines in Mexico and an advanced stage project in Peru. It summarizes Q2 2017 production results showing over 1 million silver equivalent ounces produced at a cash cost of $6.67/oz. Guidance for 2017 is provided with production expected between 4-4.1 million ounces at a cash cost of $5-6/oz and all-in sustaining costs of $14-16/oz. The presentation also describes the company's operating mines in Mexico and its Coricancha project in Peru.
The document discusses the growing supply of condensate in the United States and opportunities for demand. It notes that the Eagle Ford region is the largest contributor to condensate growth and that most of its production is light and suitable for refining or splitting. There is potential for over 400,000 barrels per day of additional demand in the Corpus Christi area above currently planned exports and splitting capacity. Splitting capacity on the Gulf Coast is expected to reach 460,000 barrels per day by 2018 to meet demand. Canadian imports of diluent are projected to exceed 500,000 barrels per day by 2017.
This document provides an overview of three major Canadian oil and gas companies: Suncor, Crescent Point, and Canadian Oil Sands. It discusses the Canadian oil and gas industry, including key statistics on crude oil and natural gas production, reserves, and common extraction technologies like oil sands processing and fracking. The document also analyzes factors that influence commodity prices and outlines components of the upstream, midstream, and downstream industry sectors.
This presentation provides an overview of Great Panther Silver Limited, a primary silver producer with two mines in Mexico and an acquisition in Peru. It summarizes the company's recent financial and production results, guidance for 2017, growth projects including the Coricancha Mine Complex acquisition and reactivation in Peru, and strategy to transition to acquisitive growth. The presentation contains forward-looking statements and non-IFRS financial measures with definitions.
Newest Investor Presentation from Magnum Hunter Resources, Issued Oct 2014Marcellus Drilling News
Information about the Marcellus/Utica begins on page 17 of the PDF (slide is numbered 16). On page 25 (slide #24) we have an updated table of the largest acreage holders in the Utica. The very next page is fascinating: a list of transactions--drillers that purchased large tracts of acreage from other drillers in the Utica--and what they paid for it on a per acre basis. Be sure to take a look at that slide. Finally, a little bit of crowing about drilling the Utica's most productive well to date, the Stewart-Winland Utica Shale well (in WV!) on page 30 (slide #29).
NZEC is an oil and natural gas company engaged in the production, development and exploration of petroleum and natural gas assets in New Zealand. NZEC’s property portfolio collectively covers approximately 1.15 million acres of conventional and unconventional prospects in the Taranaki Basin and East Coast Basin of New Zealand’s North Island. The Company’s management team has extensive oil and gas exploration and operations experience in New Zealand. NZEC plans to execute a technically disciplined exploration and development program focused on the onshore and offshore oil and natural gas resources in the politically and fiscally stable country of New Zealand. NZEC is listed on the TSX Venture Exchange under the symbol NZ and on the OTCQX International under the symbol NZERF. More information is available at www.newzealandenergy.com or by emailing info@newzealandenergy.com.
The document discusses definitions and categories of petroleum reserves based on probabilities of production. It defines proven, probable, and possible reserves, which have 90%, 50%, and 10% certainty of being produced, respectively. Methods for estimating reserves are described, including volumetric analysis, decline curve analysis, and production forecasting based on projected prices, costs, and other factors.
Indonesia lng to support development of power and industry domestic sampe ...Sampe Purba
The document discusses Indonesia's efforts to meet growing domestic demand for natural gas through LNG imports and infrastructure development. It summarizes SKK Migas' role in managing upstream oil and gas to support economic growth and ensure fair returns. It also outlines Indonesia's shifting focus to gas to fuel power plants and industry, the rising gas demand projections, and plans to construct new pipelines and floating storage regasification units to deliver gas across the country.
This document provides an overview of the Canadian oil and gas industry, including key statistics and projections. It discusses the industry's importance to the Canadian economy and trade balance. It outlines the upstream, midstream, and downstream sectors. It also summarizes trends and prospects for crude oil and natural gas production, reserves, prices, exports, and consumption in Canada. The strengths, weaknesses, opportunities, and threats facing the industry are identified. Selected companies in the industry are also reviewed.
This document discusses key principles of gas field development planning. It explains that gas properties like compressibility require a direct relationship between the reservoir, wells, pipelines, and consumers. Development considers the gas drive mechanism, well spacing patterns to optimize drainage areas, withdrawal rates based on pipeline capacity and demand, and economics involving recovery factors, costs, and productive lifetime. The compressorless and compressor periods of exploitation are also outlined.
The document discusses Nigeria's Gas Flare Commercialization Program (NGFCP) and its potential impact on the domestic gas market. It provides an overview of the NGFCP, which aims to develop a framework to monetize flared gas by providing access to flare sites. It also discusses barriers to Nigeria's domestic gas industry, including infrastructure challenges, gas pricing issues, and lack of development in the downstream sector. The document recommends ways to improve the bankability and impact of the NGFCP, such as addressing infrastructure and cash flow certainty concerns, and fostering appropriate market structures to allow power companies to recover costs of procuring gas.
Dismukes jones walker_banking_presentation_08-31-10Jordan Lane
The document discusses the economic importance and trends of offshore oil and gas production in the Gulf of Mexico. It notes that in 2008, over 420 million barrels of oil and 2.4 trillion cubic feet of natural gas were produced in the Gulf of Mexico, employing over 200,000 workers. Deepwater areas have increasingly contributed to production, with water depths now exceeding 9,500 feet. The deepwater and ultra-deepwater structures and wells require over $1.5 billion in investments. However, the 2010 Deepwater Horizon oil spill led to a drilling moratorium that reduced Gulf of Mexico rig counts and risks long-term impacts on investment and employment across the Gulf Coast region.
- Bluestone Resources Inc. is focused on developing its Cerro Blanco gold project and Mita Geothermal project in Guatemala.
- A feasibility study for the Cerro Blanco project outlines average annual gold production of 113,000oz over 8 years at an AISC of $579/oz and after-tax NPV of $241M.
- The analyst maintains a speculative buy rating and price target of C$3.00 based on a valuation of $380M for Cerro Blanco plus other assets. Near-term catalysts include resource updates and a production decision in 2019.
Aug. 2013 Champion Corporate Presentation - EnglishChampionMines
The document provides an overview of Champion Iron Mines Ltd.'s plans to build a major new iron ore mine, the Consolidated Fire Lake North Project, in the Labrador Trough region of Canada. Key details include a preliminary feasibility study indicating average annual production of 9.3 million tonnes of iron concentrate over 20 years. The project benefits from established infrastructure in the region including rail lines and the Port of Sept-Îles. The company has over 5 billion tonnes of mineral resources across its properties in the region positioning it for long-term growth.
Oil Producers Turn Wellhead Flare Gas Headaches into BenefitsStephen Rach
Berg Chilling Systems Inc. and GTUIT have teamed up to launch GTUIT Core System, a game changing solution to the wellhead gas challenge. GTUIT Core enables oil producers to reduce environmental impact of their operations, reduce production costs and increase revenue.
AmericaCNG offers oil producers a solution to deal with natural gas that is currently being flared at wellheads due to a lack of pipeline infrastructure. They provide portable natural gas liquid separation and liquefaction units that extract liquids and convert gas to LNG at the wellhead. This allows producers to realize value from natural gas resources and comply with regulations limiting gas flaring, while AmericaCNG transports extracted liquids and LNG to market. AmericaCNG's equipment and services require no upfront capital costs for producers and provide income through payments based on natural gas liquid production.
The document provides an annual results presentation for 2012 that summarizes the company's strategy, highlights for the year, reviews performance by business unit, and discusses key developments and exploration activities. The company delivered on its strategy of focusing on high-quality, high-return developments and acquisitions in core areas. Notable achievements in 2012 included sanctioning four major projects, progressing the Catcher development, and adding prospective resources through new exploration acreage. Production increased 43% to 57.7 kboepd, and the portfolio of reserves and resources continued expanding.
The document provides an update on Agnico-Eagle Mines' operations for August 18, 2011. It summarizes production highlights and challenges at each of its mine sites, including steady performance but narrow stopes at LaRonde, record throughput but soil subsidence issues at Goldex, continued strong performance at Lapa, and improvements in throughput and cost reductions at Meadowbank following the start-up of its secondary crushing plant. Exploration results are also promising at depth for Goldex and Meliadine. Challenges discussed include mining conditions, water management, and high costs.
The PowerPoint slide presentation used during an analyst phone conference in May 2014 for Gulfport Energy. Of most interest to MDN is the Utica Shale Update section--an extensive section from page 11 through page 21.
Cabot oil and gas jp morgan presentation - june 2016Steve Wittrig
Cabot Oil & Gas provides an overview of its operations and financial results. In 2015, Cabot produced 602.5 Bcfe, an increase of 13% over 2014, and had year-end proved reserves of 8.2 Tcfe, an increase of 11%. For 2016, Cabot expects production growth of 2-7% while significantly reducing its capital budget to $325 million, down 58% from 2015. Cabot has a large inventory of low-risk drilling opportunities in the Marcellus and Eagle Ford shales and a conservative financial position with low leverage.
This presentation provides an overview of Great Panther Silver Limited, a primary silver producer with two mines in Mexico and an acquisition in Peru. It summarizes Great Panther's recent financial and production results, guidance for 2017, growth strategy through organic expansion and acquisition, and highlights key assets including the Guanajuato Mine Complex and Topia Mine in Mexico and the Coricancha Mine Complex acquisition in Peru. The presentation is intended to provide investors with information on Great Panther's business and outlook.
This presentation provides an overview of Great Panther Silver Limited, a primary silver producer with two mines in Mexico and an advanced stage project in Peru. It summarizes Q2 2017 production results showing over 1 million silver equivalent ounces produced at a cash cost of $6.67/oz. Guidance for 2017 is provided with production expected between 4-4.1 million ounces at a cash cost of $5-6/oz and all-in sustaining costs of $14-16/oz. The presentation also describes the company's operating mines in Mexico and its Coricancha project in Peru.
The document discusses the growing supply of condensate in the United States and opportunities for demand. It notes that the Eagle Ford region is the largest contributor to condensate growth and that most of its production is light and suitable for refining or splitting. There is potential for over 400,000 barrels per day of additional demand in the Corpus Christi area above currently planned exports and splitting capacity. Splitting capacity on the Gulf Coast is expected to reach 460,000 barrels per day by 2018 to meet demand. Canadian imports of diluent are projected to exceed 500,000 barrels per day by 2017.
This document provides an overview of three major Canadian oil and gas companies: Suncor, Crescent Point, and Canadian Oil Sands. It discusses the Canadian oil and gas industry, including key statistics on crude oil and natural gas production, reserves, and common extraction technologies like oil sands processing and fracking. The document also analyzes factors that influence commodity prices and outlines components of the upstream, midstream, and downstream industry sectors.
This presentation provides an overview of Great Panther Silver Limited, a primary silver producer with two mines in Mexico and an acquisition in Peru. It summarizes the company's recent financial and production results, guidance for 2017, growth projects including the Coricancha Mine Complex acquisition and reactivation in Peru, and strategy to transition to acquisitive growth. The presentation contains forward-looking statements and non-IFRS financial measures with definitions.
Newest Investor Presentation from Magnum Hunter Resources, Issued Oct 2014Marcellus Drilling News
Information about the Marcellus/Utica begins on page 17 of the PDF (slide is numbered 16). On page 25 (slide #24) we have an updated table of the largest acreage holders in the Utica. The very next page is fascinating: a list of transactions--drillers that purchased large tracts of acreage from other drillers in the Utica--and what they paid for it on a per acre basis. Be sure to take a look at that slide. Finally, a little bit of crowing about drilling the Utica's most productive well to date, the Stewart-Winland Utica Shale well (in WV!) on page 30 (slide #29).
NZEC is an oil and natural gas company engaged in the production, development and exploration of petroleum and natural gas assets in New Zealand. NZEC’s property portfolio collectively covers approximately 1.15 million acres of conventional and unconventional prospects in the Taranaki Basin and East Coast Basin of New Zealand’s North Island. The Company’s management team has extensive oil and gas exploration and operations experience in New Zealand. NZEC plans to execute a technically disciplined exploration and development program focused on the onshore and offshore oil and natural gas resources in the politically and fiscally stable country of New Zealand. NZEC is listed on the TSX Venture Exchange under the symbol NZ and on the OTCQX International under the symbol NZERF. More information is available at www.newzealandenergy.com or by emailing info@newzealandenergy.com.
The document discusses definitions and categories of petroleum reserves based on probabilities of production. It defines proven, probable, and possible reserves, which have 90%, 50%, and 10% certainty of being produced, respectively. Methods for estimating reserves are described, including volumetric analysis, decline curve analysis, and production forecasting based on projected prices, costs, and other factors.
Quarterly legislative action update: Marcellus and Utica shale region (4Q16)Marcellus Drilling News
A quarterly update from the legal beagles at global law firm Norton Rose Fulbright. A quarterly legislative action update for the second quarter of 2016 looking at previously laws acted upon, and new laws introduced, affecting the oil and gas industry in Pennsylvania, Ohio and West Virginia.
- Permeability is a property of porous rocks that measures their ability to transmit fluids. Higher permeability means fluids can flow more easily through the rock.
- Darcy's law states that for laminar flow through a permeable medium, the flow rate is proportional to the permeability of the medium and the pressure gradient, and inversely proportional to the fluid viscosity.
- There are different units used to measure and describe permeability, including darcies and millidarcies. Permeability is a key parameter in evaluating reservoir performance and fluid flow.
This document outlines the syllabus for a Reservoir Engineering 1 course. The 3 credit hour course is intended for sophomore and junior petroleum engineering students and covers fundamental reservoir engineering concepts and their practical applications. Lectures will be divided into two 50-slide presentations with a short break. Students will be assessed based on class activities, a midterm exam, and a final exam. The course schedule lists 16 lectures covering topics like petroleum reservoirs, fluid properties, laboratory experiments, and production methods. Major references and resources are also provided.
The document summarizes five key facts about the recovery of US shale oil production:
1) Rig counts have increased by 90% since bottoming out in May 2016 and are up 30% year-over-year, signaling increased drilling and production capacity.
2) While decline rates remain steep, production profiles have increased substantially due to technological advances, meaning aggregate supply will be stronger.
3) Preliminary data shows that net new shale supply turned positive in December 2016 for the first time since March 2015, recovering just 7 months after rig counts increased.
4) Increased drilling activity is supported by a large stock of drilled but uncompleted wells, demonstrating the recovery and expansion of the shale sector.
5)
This document provides an overview of a reservoir engineering course focused on fundamental rock properties. It discusses key topics like porosity, saturation, wettability, capillary pressure, and how they are determined through laboratory core analysis. Porosity refers to the pore space available to hold fluids and is classified as absolute or effective porosity. Saturation represents the fraction of pore space occupied by a fluid. Capillary pressure describes the pressure differential between immiscible fluids based on interface curvature. Laboratory tests on core samples are used to characterize these important rock properties.
Integration of Seismic Inversion, Pore Pressure Prediction, and TOC Predictio...Andika Perbawa
Conventional natural gas is being exploited rapidly to achieve energy security and to satisfy the demand. However, due to the high demand for oil and gas it is becoming more difficult to find sufficient conventional reserves. To anticipate the predicted shortage of gas, we need to explore new, unconventional resources, such as shale gas. Shale gas is shale lithology that has high TOC, is brittle, and is located in the dry gas window zone. This study describes the early exploration of shale gas potential in one block in South Sumatra basin area.
In this study, the integration of geochemical data, rock physics and seismic inversion for characterizing and searching for shale gas potential will be described. The preliminary exploration stage of gas shale play covers sweet spot analysis using the Passey method to create a pseudo TOC in the target formation. Secondly, the overpressure area is mapped to avoid any potential pitfalls. Thirdly, seismic inversion is performed to map the distribution of shale based on the parameters Vp / Vs and map its TOC through conversion from Vp parameter.
As a result, log analysis shows one target zone of potential shale gas with TOC above 1% with a thickness of 100 feet. Integration of pore pressure data, shale distribution and TOC distribution of the target zone shows two potential areas in west, north-south trending, and in the east relatively of the well-X. Both locations can be recommended for the next pilot holes in order to acquire a complete set of new data and to be able to evaluate more intensively.
This document discusses concepts in applied reservoir engineering. It defines key reservoir terms like reservoir rock, cap rock, and reservoir fluids. It also covers rock and fluid properties important for reservoir characterization like porosity, permeability, and PVT properties. Methods for calculating original hydrocarbon in place are presented, including volumetric and material balance approaches. Determining reservoir drive mechanisms and predicting future performance through primary and secondary recovery methods are also summarized.
An update on Magnum Hunter's shale drilling programs in both the Marcellus/Utica region, and in the Bakken Shale region. Total Magnum leased acreage is now 350,000 acres. The company continues to push aggressively in both shale plays, but recent activity is particularly focused on the Utica Shale.
Company Website Presentation - April 2014 (C)AnteroResources
The document provides an overview of Antero Resources Corporation. It discusses Antero's position as a "pure play" on the Marcellus and Utica Shales, with over 35 trillion cubic feet equivalent of reserves across these regions. It also summarizes Antero's strong production growth track record, low development costs leading to industry-leading capital efficiency, and significant multi-year drilling inventory. The document highlights Antero's focus on increasing its liquids production and securing firm gas processing and takeaway capacity.
Company website presentation (b) January 2014AnteroResources
This document provides an overview of Antero Resources Corporation. It summarizes that Antero has critical mass in the Marcellus and Utica shale plays with 28 trillion cubic feet of reserves. It is the most active driller in Appalachia with 20 rigs currently running. Antero has a large multi-year drilling inventory of over 4,500 locations that supports low risk and high return growth. The company has significant midstream infrastructure and secured takeaway capacity.
Portion of Gastar Investor Presentation for August 2015 Focused on Marcellus/...Marcellus Drilling News
An extract/portion of Gastar's August 2015 investors' presentation. Marcellus Drilling News has extracted out only those slides dealing with information about their Marcellus/Utica operations. Slide #14 (page #43) shows the top 10 Utica dry gas wells as of August 2015 for all drillers. Gastar has two wells in the list.
This document provides an overview of Antero Resources Corporation. It discusses Antero's position as a "pure play" company focused on the Marcellus and Utica shale plays, with over 28 trillion cubic feet of reserves across the regions. Antero has demonstrated strong production growth through operational focus and investment in infrastructure. The company has a multi-year inventory of drilling locations that can support continued low-risk growth. Antero has among the lowest development costs in the industry, driving high returns as shown through its industry-leading recycle ratio.
This document provides an overview of Antero Resources Corporation. It states that Antero has critical mass in the Marcellus and Utica shale plays, with over 28 trillion cubic feet of reserves across the regions. It also notes that Antero is the most active driller in Appalachia and the Marcellus shale, with 20 and 15 rigs running respectively. Finally, it highlights Antero's industry leading capital efficiency and recycle ratio, supported by its significant midstream infrastructure and hedge position to facilitate continued high growth.
This document provides an overview of Antero Resources Corporation. Some key points:
- Antero has significant natural gas and oil reserves located in the Marcellus and Utica Shales in the Appalachian Basin, totaling over 28 trillion cubic feet of gas equivalent.
- Antero has demonstrated strong production growth through development of these shale plays, with a 182% compound annual growth rate in Appalachian production since 2010.
- Antero has a multi-year inventory of potential drilling locations that can support continued low-risk and high-return growth, and uses industry-leading capital efficiency.
This document provides an overview of Antero Resources Corporation. It states that Antero has significant natural gas and oil reserves located in the Marcellus and Utica Shales of Appalachia. Antero has over 28 trillion cubic feet equivalent of 3P reserves across its acreage and over 800 undrilled drilling locations that are expected to provide economic returns even at low natural gas prices. The company has demonstrated strong production and reserve growth over time through active development of its multi-year inventory of drilling opportunities.
A PowerPoint presentation from Rice Energy used by management on a May 7, 2015 earnings call. Lots of great detail and maps covering Rice's active drilling programs in both the Marcellus and Utica Shale plays.
The document provides an overview of Antero Resources Corporation. It states that Antero has significant reserves of 35 trillion cubic feet of gas equivalent in the Marcellus and Utica Shales. It also notes that Antero has grown its Appalachian production by 159% annually since 2010 through active drilling, with 20 rigs currently operating. Antero focuses on having low development costs of $1.03 per thousand cubic feet of gas equivalent and industry-leading growth-adjusted recycle ratios of 6.1 times. The document emphasizes Antero's infrastructure including firm transportation agreements and processing facilities to support its planned growth.
The document is a report from the U.S. Energy Information Administration analyzing drilling productivity in seven major oil and gas regions in the United States. It provides data on oil and gas production, rig counts, and changes in production from existing and new wells for each region from 2007 to the present. The regions accounted for 95% of domestic oil production growth and all domestic natural gas production growth from 2011-2013.
The document is a report from the U.S. Energy Information Administration analyzing drilling productivity in seven major oil and gas regions in the United States. It contains production data from January 2014 to January 2015 on metrics like oil and gas output, new-well production, and legacy production for regions like the Bakken, Eagle Ford, Haynesville, Marcellus, Niobrara, Permian and Utica shale plays. Tables and charts show changes in output levels month-to-month and year-over-year for each region.
The document provides an overview of Antero Resources Corporation, including:
- Antero has significant natural gas and oil reserves in the Marcellus and Utica Shales totaling over 28 trillion cubic feet of gas equivalent.
- The company has industry-leading production growth and capital efficiency, operating 19 rigs across its acreage.
- Antero is focused on increasing its liquids production and has significant infrastructure being built to process liquids and transport gas and liquids to market.
- The company has a multi-year drilling inventory across its acreage that provides opportunities for continued low-risk production growth.
Company website presentation february 2014 (b)AnteroResources
2015
1,600,000
20,000
1. Company overview of Antero Resources, a pure play natural gas company focused on developing properties in the Marcellus and Utica shale plays.
2. Antero has significant reserves of over 35 trillion cubic feet of gas equivalent and a multi-year drilling inventory across its acreage that supports continued low-risk growth.
3. The company has invested heavily in midstream infrastructure including significant gas processing plants and takeaway pipelines to handle its growing production volumes and move them to premium markets.
Cabot Oil & Gas Slide Presentation at Merrill Lunch Energy ConferenceMarcellus Drilling News
The slide presentation used by Cabot Oil & Gas at the November 2014 Merrill Lynch Energy Conference in Miami, FL. The slides provide an update on Cabot's Marcellus Shale drilling program in Susquehanna County, PA, along with details on their new and growing Eagle Ford drilling program.
Parex Resources Corporate Presentation May 9 2014ParexResources
Parex Resources is an oil and gas exploration and production company operating in Colombia. In 2014, the company expects to produce between 17,500-18,500 barrels of oil per day, a 15% increase over 2013. Parex has a significant land base and diversified production and exploration assets in Colombia. The presentation provides details on Parex's 2014 capital program, production guidance, reserve estimates, and new play concepts being explored.
The document provides an overview of Antero Resources Corporation, including:
- Antero has over 35 trillion cubic feet of equivalent reserves across the Marcellus and Utica Shales in Appalachia, with industry-leading production growth and capital efficiency.
- The company operates 20 drilling rigs with a focus on liquids-rich areas for higher returns, and has significant midstream infrastructure commitments to support its growth plans.
- Antero has a large inventory of undrilled drilling locations across its multi-year development plan and a substantial hedge book to underpin its growth through 2019.
The document provides an overview of Antero Resources Corporation, including:
- Antero has significant reserves of natural gas and natural gas liquids located in the Marcellus and Utica Shales.
- The company has grown production significantly through operational focus on these shale plays, currently operating 20 drilling rigs.
- Antero has secured substantial firm natural gas processing and takeaway capacity to support its high growth plans.
The monthly Drilling Productivity Report from the EIA that shows, by major shale basin, the productivity for both new and existing wells--for both oil and gas. This month's report shows that the Marcellus will officially blow by 16 billion cubic feet per day of production in December.
Antero Resources is an E&P company focused on developing natural gas and liquids resources in the Marcellus and Utica Shales of the Appalachian Basin. As of June 30, 2013, Antero had over 6 trillion cubic feet equivalent of proved reserves and over 27 trillion cubic feet equivalent of probable and possible reserves. Antero has a large inventory of potential drilling locations and a track record of production and reserve growth. Analysis shows that Antero has among the lowest finding and development costs in the industry, demonstrating capital efficiency. Antero also has a significant long-term hedge position that is expected to generate substantial hedge gains through 2019.
Similar to Magnum Hunter Resources Investor Presentation - Feb 2015 (20)
An update from Spectra Energy on their proposed $3 billion project to connect four existing pipeline systems to flow more Marcellus/Utica gas to New England. In short, Spectra has put the project on pause until mid-2017 while it attempts to get new customers signed.
A letter from Rover Pipeline to the Federal Energy Regulatory Commission requesting the agency issue the final certificate that will allow Rover to begin tree-clearing and construction of the 511-mile pipeline through Pennsylvania, West Virginia, Ohio and Michigan. If the certificate is delayed beyond the end of 2016, it will delay the project an extra year due to tree-clearing restrictions (to accommodate federally-protected bats).
DOE Order Granting Elba Island LNG Right to Export to Non-FTA CountriesMarcellus Drilling News
An order issued by the U.S. Dept. of Energy that allows the Elba Island LNG export facility to export LNG to countries with no free trade agreement with the U.S. Countries like Japan and India have no FTA with our country (i.e. friendly countries)--so this is good news indeed. Although the facility would have operated by sending LNG to FTA countries, this order opens the market much wider.
A study released in December 2016 by the London School of Economics, titled "On the Comparative Advantage of U.S. Manufacturing: Evidence from the Shale Gas Revolution." While America has enough shale gas to export plenty of it, exporting it is not as economic as exporting oil due to the elaborate processes to liquefy and regassify natural gas--therefore a lot of the gas stays right here at home, making the U.S. one of (if not the) cheapest places on the planet to establish manufacturing plants, especially for manufacturers that use natural gas and NGLs (natural gas liquids). Therefore, manufacturing, especially in the petrochemical sector, is ramping back up in the U.S. For every two jobs created by fracking, another one job is created in the manufacturing sector.
Letter From 24 States Asking Trump & Congress to Withdraw the Unlawful Clean ...Marcellus Drilling News
A letter from the attorneys general from 24 of the states opposed to the Obama Clean Power Plan to President-Elect Trump, RINO Senate Majority Leader Mitch McConnel and RINO House Speaker Paul Ryan. The letter asks Trump to dump the CPP on Day One when he takes office, and asks Congress to adopt legislation to prevent the EPA from such an egregious overreach ever again.
Report: New U.S. Power Costs: by County, with Environmental ExternalitiesMarcellus Drilling News
Natural gas and wind are the lowest-cost technology options for new electricity generation across much of the U.S. when cost, public health impacts and environmental effects are considered. So says this new research paper released by The University of Texas at Austin. Researchers assessed multiple generation technologies including coal, natural gas, solar, wind and nuclear. Their findings are depicted in a series of maps illustrating the cost of each generation technology on a county-by-county basis throughout the U.S.
Annual report issued by the U.S. Energy Information Administration showing oil and natural gas proved reserves, in this case for 2015. These reports are issued almost a year after the period for which they report. This report shows proved reserves for natural gas dropped by 64.5 trillion cubic feet (Tcf), or 16.6%. U.S. crude oil and lease condensate proved reserves also decreased--from 39.9 billion barrels to 35.2 billion barrels (down 11.8%) in 2015. Proved reserves are calculated on a number of factors, including price.
The document is a report from the U.S. Energy Information Administration analyzing oil and gas production from seven regions in the U.S. It includes charts and tables showing historical and projected production levels of oil and gas from each region from 2008 to 2017, as well as metrics like the average production per rig. The regions - Bakken, Eagle Ford, Haynesville, Marcellus, Niobrara, Permian, and Utica - accounted for 92% of domestic oil production growth and all domestic natural gas production growth from 2011-2014.
Velocys is the manufacturer of gas-to-liquids (GTL) plants that convert natural gas (a hyrdocarbon) into other hydrocarbons, like diesel fuel, gasoline, and even waxes. This PowerPoint presentation lays out the Velocys plan to get the company growing. GTL plants have not (so far) taken off in the U.S. Velocys hopes to change that. They specialize in small GTL plants.
PA DEP Revised Permit for Natural Gas Compression Stations, Processing Plants...Marcellus Drilling News
In January 2016, Gov. Wolf announced the DEP would revise its current general permit (GP-5) to update the permitting requirements for sources at natural gas compression, processing, and transmission facilities. This is the revised GP-5.
PA DEP Permit for Unconventional NatGas Well Site Operations and Remote Piggi...Marcellus Drilling News
In January 2016, PA Gov. Wolf announced the Dept. of Environmental Protection would develop a general permit for sources at new or modified unconventional well sites and remote pigging stations (GP-5A). This is the proposed permit.
Onerous new regulations for the Pennsylvania Marcellus Shale industry proposed by the state Dept. of Environmental Protection. The new regs will, according to the DEP, help PA reduce so-called fugitive methane emissions and some types of air pollution (VOCs). This is liberal Gov. Tom Wolf's way of addressing mythical man-made global warming.
The monthly Short-Term Energy Outlook (STEO) from the U.S. Energy Information Administration for December 2016. This issue makes a couple of key points re natural gas: (1) EIA predicts that natural gas production in the U.S. for 2016 will see a healthy decline over 2015 levels--1.3 billion cubic feet per day (Bcf/d) less in 2016. That's the first annual production decline since 2005! (2) The EIA predicts the average price for natural gas at the benchmark Henry Hub will climb from $2.49/Mcf (thousand cubic feet) in 2016 to a whopping $3.27/Mcf in 2017. Why the jump? Growing domestic natural gas consumption, along with higher pipeline exports to Mexico and liquefied natural gas exports.
This document provides an overview of the natural gas market in the Northeast United States, including New England, New York, New Jersey, and Pennsylvania. It details statistics on gas customers, consumption, infrastructure like pipelines and storage, and production. A key point is that the development of the Marcellus Shale in Pennsylvania has significantly increased domestic gas production in the region and reduced its reliance on other supply basins and imports.
The Pennsylvania Public Utility Commission responded to each point raised in a draft copy of the PA Auditor General's audit of how Act 13 impact fee money, raised from Marcellus Shale drillers, gets spent by local municipalities. The PUC says it's not their job to monitor how the money gets spent, only in how much is raised and distributed.
Pennsylvania Public Utility Commission Act 13/Impact Fees Audit by PA Auditor...Marcellus Drilling News
A biased look at how 60% of impact fees raised from PA's shale drilling are spent, by the anti-drilling PA Auditor General. He chose to ignore an audit of 40% of the impact fees, which go to Harrisburg and disappear into the black hole of Harrisburg spending. The Auditor General claims, without basis in fact, that up to 24% of the funds are spent on items not allowed under the Act 13 law.
The final report from the Pennsylvania Dept. of Environmental Protection that finds, after several years of testing, no elevated levels of radiation from acid mine drainage coming from the Clyde Mine, flowing into Ten Mile Creek. Radical anti-drillers tried to smear the Marcellus industry with false claims of illegal wastewater dumping into the mine, with further claims of elevated radiation levels in the creek. After years of testing, the DEP found those allegations to be false.
FERC Order Denying Stay of Kinder Morgan's Broad Run Expansion ProjectMarcellus Drilling News
The Federal Energy Regulatory Commission denied a request to stay the authorization of Tennessee Gas Pipeline Company's Broad Run Expansion Project. The Commission found that the intervenors requesting the stay did not demonstrate they would suffer irreparable harm if the project proceeded. Specifically, the Commission determined that the environmental impacts to forest and a nearby animal rehabilitation center would be insignificant. Additionally, conditioning authorization on future permits did not improperly encroach on state authority. Therefore, justice did not require granting a stay.
Sixth Circuit Court of Appeals Decision in Harper v Muskingum Watershed Conse...Marcellus Drilling News
Anti-drilling landowners (backed by Food & Water Watch) claimed the Muskingum Watershed Conservancy District had violated the deed to the land it owns by leasing that land for Utica Shale drilling. The Sixth Circuit dismissed the case. The anti-drillers lost.
Final Environmental Impact Statement for NEXUS Gas Transmission ProjectMarcellus Drilling News
The Final Environmental Impact Statement (FEIS) for the NEXUS Pipeline project, a $2 billion, 255-mile interstate pipeline that will run from Ohio through Michigan and eventually to the Dawn Hub in Ontario, Canada. FERC gave the project a thumbs up, which clears the way for a Certificate to be issued in early 2017.
Shark Tank Jargon | Operational ProfitabilityTheUnitedIndian
Don't let fancy business words confuse you! This blog is your cheat sheet to understanding the Shark Tank Jargon. We'll translate all the confusing terms like "valuation" (how much the company is worth) and "royalty" (a fee for using someone's idea). You'll be swimming with the Sharks like a pro in no time!
केरल उच्च न्यायालय ने 11 जून, 2024 को मंडला पूजा में भाग लेने की अनुमति मांगने वाली 10 वर्षीय लड़की की रिट याचिका को खारिज कर दिया, जिसमें सर्वोच्च न्यायालय की एक बड़ी पीठ के समक्ष इस मुद्दे की लंबित प्रकृति पर जोर दिया गया। यह आदेश न्यायमूर्ति अनिल के. नरेंद्रन और न्यायमूर्ति हरिशंकर वी. मेनन की खंडपीठ द्वारा पारित किया गया
Christian persecution in Islamic countries has intensified, with alarming incidents of violence, discrimination, and intolerance. This article highlights recent attacks in Nigeria, Pakistan, Egypt, Iran, and Iraq, exposing the multifaceted challenges faced by Christian communities. Despite the severity of these atrocities, the Western world's response remains muted due to political, economic, and social considerations. The urgent need for international intervention is underscored, emphasizing that without substantial support, the future of Christianity in these regions is at grave risk.
https://ecspe.org/the-rise-of-christian-persecution-in-islamic-countries/
La defensa del expresidente Juan Orlando Hernández, declarado culpable por narcotráfico en EE. UU., solicitó este viernes al juez Kevin Castel que imponga una condena mínima de 40 años de prisión.
16062024_First India Newspaper Jaipur.pdfFIRST INDIA
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“What Else Are They Talking About?”: A Large-Scale Longitudinal Analysis of M...Axel Bruns
Paper by Daniel Angus, Stephen Harrington, Axel Bruns, Phoebe Matich, Nadia Jude, Edward Hurcombe, and Ashwin Nagappa, presented at the ICA 2024 conference, Gold Coast, 22 June 2024.
मद्रास उच्च न्यायालय के सेवानिवृत्त न्यायाधीश और केंद्र और राज्य सरकार के नौकरशाहों सहित आठ अन्य लोगों की अध्यक्षता वाली एक उच्च स्तरीय समिति ने 2021 में NEET परीक्षा को खत्म करने की सिफारिश की थी। महत्वपूर्ण बात यह है कि रिपोर्ट में 2010-11 में ग्रामीण पृष्ठभूमि से तमिल छात्रों की संख्या में 61.5% की भारी गिरावट को दर्शाया गया है। इसके बजाय मेट्रो छात्रों में वृद्धि दर्ज की गई है।
La defensa del expresidente Juan Orlando Hernández, declarado culpable por narcotráfico en EE. UU., solicitó este viernes al juez Kevin Castel que imponga una condena mínima de 40 años de prisión.
19 जून को बॉम्बे हाई कोर्ट ने विवादित फिल्म ‘हमारे बारह’ को 21 जून को थिएटर में रिलीज करने का रास्ता साफ कर दिया, हालांकि यह सुनिश्चित करने के बाद कि फिल्म निर्माता कुछ आपत्तिजनक अंशों को हटा दें।
17062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
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21062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
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15062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
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19 जून को बॉम्बे हाई कोर्ट ने विवादित फिल्म ‘हमारे बारह’ को 21 जून को थिएटर में रिलीज करने का रास्ता साफ कर दिया, हालांकि यह सुनिश्चित करने के बाद कि फिल्म निर्माता कुछ आपत्तिजनक अंशों को हटा दें।
विवादास्पद फिल्म के ट्रेलर से गाली-गलौज वाले दृश्य हटा दिए गए हैं, और जुर्माना लगाया गया है। सुप्रीम कोर्ट और बॉम्बे हाई कोर्ट दोनों ने फिल्म की रिलीज पर रोक लगा दी है और उसे निलंबित कर दिया है। पहले यह फिल्म 7 जून और फिर 14 जून को रिलीज होने वाली थी, लेकिन अब यह 21 जून को रिलीज हो रही है।
projet de traité négocié à Istanbul (anglais).pdfEdouardHusson
Ceci est le projet de traité qui avait été négocié entre Russes et Ukrainiens à Istanbul en mars 2022, avant que les Etats-Unis et la Grande-Bretagne ne détournent Kiev de signer.
2. Current Market Capitalization ~$525 MM
Current Enterprise Value ~$1,875 MM
Proved Reserves(1) 83.8 MMBoe
3P Reserves(2) 115.5 MMBoe
Contingent Resources(3) 891.1 MMBoe
Magnum Hunter Resources is an exploration and production company focused in two of
the most prolific unconventional resource shale plays in North America; the Marcellus and
Utica Shales of West Virginia and Ohio
Redirected reserve and production focus to natural gas from oil over the last two years
(80% natural gas, 10% ngls and 10% oil)
Current management team assumed leadership of the Company over 5 years ago in 2009
and has decades of combined energy industry experience
Appalachian focused asset base provides the Company with the flexibility to allocate
capital to the highest EUR properties within the portfolio
Achieved “Shale Scale” with significant acreage positions in the Appalachian Basin
Ownership in a ~175 mile gas gathering system located in the Appalachian Basin
Significant insider ownership of management aligns with shareholder interest
Who We Are
Key Metrics
(1) Consists of total proved reserves as of December 31, 2014
(2) 3P Reserves consist of proved, probable and possible reserves as of December 31, 2014
(3) The contingent resource estimate is an internal estimate prepared by Magnum Hunter that includes its Utica Shale potential on its vast lease acreage holdings as of June 30, 2014 1
3. Where We Operate
~278,800 Net Southern
Appalachia Acres
~80,000 Net
Marcellus Acres
~128,000 Net Utica
Acres
Year-End 2014 Proved Reserves
% Natural Gross Drilling
(MMBoe) % PDP Gas Locations(1)
Appalachia 75.9 66.3% 76.8% 1,438
Williston Basin 7.9 66.3% 7.4% 1,530
Total 83.8 66.3% 70.2% 2,968
A natural gas focused company with assets based in the heart of the Marcellus and Utica Shale plays
~175 mile gas gathering system strategically located in Ohio and West Virginia moving over 400,000
MMBtu/d with seven existing interconnects
(1) Represents total potential drilling locations reflecting current acreage position and reserve report as of June 30, 2014
Appalachian Basin
Marcellus & Utica
2
4. 1,276
4,895
7,739
14,831
32,500
2010 2011 2012 2013 2014 Target Exit Rate
Oil / Liquids Natural Gas
Production Growth
Note: The production numbers referenced above include production from continuing operations (excludes Eagle Ford assets and other discontinued operations)
(1) Includes, on a pro forma basis, 2,925 Boe/d of actual production from discontinued operations, and estimated shut-in production volumes of 2,061 Boe/d
(2) Includes shut-ins on the WVDNR and Stalder Pad (delayed until February due to blow-out)
2013 Production increased 92% to 14,831 Boepd(1) compared to 7,739 Boepd in 2012
2014 estimated production increased ~14% compared to 2013
2015 estimated production anticipated to increase ~77% - 107% compared to 2014
(1) (2)
3
5. 6.2
12.8
39.6
61.6
72.1
83.8
2009 2010 2011 2012 2013 2014
Proved Reserves (MMBoe)
Proved Reserve Growth Consistency
Track record of proved reserve growth since inception
• Approximately 83.8 MMBoe of proved reserves at December 31, 2014 (70.2% natural gas)
• Expect to significantly increase proved reserves in the Utica Shale during 2015 due to new production pad drilling
• The Company’s reserve life (R/P ratio) of its proved reserves based on current production is ~8.5 years
• The Company replaced ~266% of its 2014 production with reserve additions
Proved Reserves (MMBoe)(A) Proved/3P Reserves (Boe) / Share(B)
(A) Proved reserves based upon respective year-end reserve reports
(B) Calculation based on weighted average of common shares outstanding on annual basis
0.16
0.20
0.35
0.40
0.42 0.42
2009 2010 2011 2012 2013 2014
Proved Reserves Per Share
4
6. Reserves Summary
Reserves Summary
Proved Reserve Allocation Proved Reserves by Region
Net Reserves as of December 31, 2014 (SEC PRICING)
Liquids Gas Total % PV-10
Category (MMBbls) (Bcf) (MMBoe) of total ($MM)
PDP 16.9 231.9 55.5 66.3% $707
PDNP 0.7 19.7 3.9 4.7% 43
PUD 7.4 101.4 24.3 29.0% 159
Total Proved Reserves 25.0 353.0 83.8 $909
Probable / Possible 13.3 109.9 31.7 189
Total 3P Reserves 38.3 462.9 115.5 $1,098
Contingent Resources 140.3 4,505.0 891.1
Total Contingent Resources 178.6.3 4,967.9 1,006.6
Extensive inventory of low-risk development drilling locations in the Marcellus Shale and Williston Basin
Significant exploration potential in the wet/dry gas window of the Utica Shale in Ohio and West Virginia
Note: Contingent Resources represents reserves as of June 30, 2014
Oil /
Liquids
29.8%
Gas
70.2%
Williston
Basin
9.4%
Appalachia
90.6%
5
8. Breakdown of Capital Expenditures
2015 Capital Budget Breakdown
Total: $100 Million
70%
10%
20%
Appalachia Williston Leasehold Acquisition
9. Substantial Leasehold Inventory
(1) Developed acreage is the number of acres allocated or assignable to producing wells or wells capable of production
(2) Undeveloped acreage is lease acreage on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of oil and natural gas,
regardless of whether such acreage includes proved reserves
(3) Approximately 48,578 Gross Acres and 43,273 Net Acres overlap in our Utica Shale and Marcellus Shale
(4) Pertains to certain miscellaneous properties in Texas and Louisiana
(5) Includes the acreage associated with the recent divestitures of non-core assets in Divide County, North Dakota
As of September 30, 2014
Gross Net Gross Net Gross Net
Appalachian Basin (3)
Marcellus Shale 58,334 57,908 28,066 22,651 86,400 80,559
Utica Shale 68,887 64,991 59,251 52,925 128,139 117,916
Magnum Hunter Production 145,086 109,568 167,139 146,736 312,225 256,305
Other 24,620 24,620 40 17 24,660 24,637
Total 296,928 257,087 254,496 222,329 551,424 479,416
South Texas
Other(4)
1,777 880 618 546 2,395 1,426
Total 1,777 880 618 546 2,395 1,426
Williston Basin - USA
North Dakota(5)
174,456 47,124 88,973 38,783 263,428 85,907
Total 174,456 47,124 88,973 38,783 263,428 85,907
MHR TOTAL 473,161 305,091 344,087 261,658 817,248 566,749
Developed
Acreage (1)
Undeveloped
Acreage (2)
Total Acreage
8
11. Appalachian Division Overview
Proved Reserves and PV-10
• Total proved reserves of 75.9 MMBoe as
of 12/31/14
• Proved producing reserves of 50.3
MMBoe as of 12/31/14
• PV-10 of $765.8 million as of 12/31/14
Acreage Position
• ~477,600 net acres in the Appalachian
Basin
• 80,000 net acres located in the Marcellus
Shale
– 387 gross remaining Marcellus well
locations(1)
• 128,000 net acres prospective for the Utica
Shale
– 464 gross remaining Utica well
locations(1)
Overview Areas of Operation
Utica and Marcellus Shale Overview
• 62 gross wells have been drilled and completed to-date
– 20 wells in Tyler County, WV
– 36 wells in Wetzel County, WV
– 5 wells in Monroe County, OH
– 1 well in Washington County, OH
• 2015 Drilling and Completion Operations:
– Bring online 11 wells (3 Marcellus and 8 Utica)
(1) Marcellus/Utica well locations only contemplate locations with a working interest > 70% 10
12. 12,854
12,421
12,832 12,670
17,028 17,116 16,847
12,966
10,761
12,992
13,321
9,543
10,340
8,842 8,560
18
21 21
24
27 29 29
23 21
24
29
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
Collins Unit
#1116H
Collins Unit
#1117H
Collins Unit
#1118H
Collins Unit
#1119H
Stewart
Winland 1301
Stewart
Winland 1302
Stewart
Winland 1303
WVDNR
#1410
WVDNR
#1411
WVDNR
#1412
WVDNR
#1413
IP 24-hr avg. rate (Mcfe/d) IP 30-day avg. rate (Mcfe/d) Frac Stages (#)
Marcellus Shale Recent Well Results
Marcellus Operated Well Results
Please note that the Stewart Winland and WVDNR wells reflect peak production rates
Recently Completed Wells
11
13. NGL Uplift in Appalachia
Following the startup of the Mobley Processing Plant in December 2012, Magnum Hunter
has realized an uplift in NGLs on a per wellhead Mcf basis between $0.50 - $1.00
The Company has 200 MMcf/d of dedicated processing capacity at the Mobley Plant
(1) All values shown are versus wellhead production in Mcf.
Wellhead Gas
1 Mcf
Btu = ~1,270
Cryo
Processing
1.64 Gal / Mcf
Methane
0.85 – 0.89 Mcf
Ethane
3.0 – 3.5 Gal / Mcf
Residue Nat. Gas and
Ethane
Btu = ~1,060
NGLs
Liquids
Fractionation
(C3+)
$0.50 - $1.00
+ $2.75 - $3.25
$3.25 - $4.25
Per Wellhead Mcf (1)
12
14. $0
$2
$4
$6
$8
$10
$12
$14
$16
$1.50 $2.00 $2.50 $3.00 $3.50 $4.00 $4.50 $5.00
2014 Case
Economic Sensitivity of Marcellus “Magnum
Rich”
Assumptions for 2014 Case:
CAPEX: $7.0 million per well
EUR: 11.0 Bcfe (includes NGL)
Realized Natural Gas Price(1), $/MMBtu
Note: Assumes realized oil price of $60.00/Bbl and realized NGL price of $30.00/Bbl (50% of realized oil price)
(1) NYMEX natural gas (HH) spot pricing as of 1/8/2015 was $2.93 per MMBtu
SingleWellNPV-10($MM)
IRR: 12%
IRR: 21%
IRR: 30%
IRR: 41%
IRR: 52%
IRR: 63%
IRR: 75%
IRR: 88%
13
15. Marcellus Shale
Note: MHR owns approximately 80,000 net acres in the Marcellus Shale.
MONROENOBLE
WASHINGTON
DODDRIDGE
PLEASANTS
RITCHIE
WETZEL
TYLER
WOOD
16. Results Indicate Best Shale Play in US
Shale Play Comparison Chart
Ohio/West Va./Penn. Wyoming/Colorado Texas N. Dakota
Utica Shale /
Parameter Point Pleasant DJ Basin Niobrara Eagle Ford Bakken
Lithology Calcareous Shale Chalk/marl Calcareous Shale Silty Dolomite
Shale with carbonate
Lithology Descriptor stringers Like Limestone Like Limestone More Dolomitic
Storage Capacity
Formation Thickness 100'-300' 150'-300' 75'-300' < 150'
Porosity 3-16% 6-10% 4-15% 8-12%
Water Saturation (Sw) 5-10% 35-90% 15-45% 15-25%
OOIP per section (MMBOE) 20-35 30+ 30-50 10-15
Productive Capacity
Clay Content ~10-25% 10-40% 8-11% 5-10%
Total Organic Carbon (TOC) 2-6% 2-6% 5% 9%
Brittleness varies, Brittle, fracs easy, 500' Brittle, fracs easy,
Ability to Fracture Stimulate na 250' frac length frac length 500+' frac length
Permeability < 0.1 mD < 0.1 mD < 0.1 mD < 0.1 mD
Reservoir Pressure (psi/ft) ~0.5-0.85 0.4-0.6 0.5-0.8 0.5-0.7
Gas-Oil-Ratio (GOR) ~3,000 0-10,000+ 500-2,000 500-1,000
Development Parameters
Depth 7,000'-11,000' 6,000'-8,000' 6,000'-8,000' 7,000'-11,000'
Well Cost ($MM) 8.0-10.0 4.0-6.0 9.0 10.0
Spacing (acres/well) 80-160 ~160 80-160 100-200
EUR (MBOE/well) 600+ 175-350 450-700 300-1,000
15
17. Major Players in the Utica: Who They Are
Source: Company presentations, Bloomberg, state data, Baird
Company Ticker Net Acres EV ($MM) Acres/EV
Chesapeake Energy CHK 1,000,000 34,063 29
Chevron CVX 600,000 233,468 3
Anadarko Petroleum APC 267,000 57,360 5
Devon Energy DVN 195,000 30,153 6
Range Resources RRC 190,000 15,451 12
Hess Corporation HES 185,000 33,068 6
EV Energy EVEP 177,000 2,746 64
Gulfport Energy GPOR 147,350 4,996 29
Halcon Resources HK 142,000 4,953 29
Antero Resources AR 104,000 17,013 6
Magnum Hunter MHR 118,000 2,250 52
BP BP 84,000 164,525 1
Consol Energy CNX 80,000 11,590 7
ExxonMobil XOM 75,000 427,308 0
PDC Energy PDCE 48,000 2,496 19
Carrizo Oil & Gas CRZO 21,700 2,922 7
Rex Energy REXX 21,000 1,369 15
EQT Resources EQT 13,600 15,469 1
16
18. Utica Asset Transactions
Source: IHS Herold, Raymond James, Deutsche Bank and Company(ies) press releases.
Announced
Date Buyer(s) Seller(s) Acreage
Feb-14 GPOR Rhino $185 8,200 $22,561
Jan-14 American Energy Partners, LP Paloma Partners $442 26,000 $17,000
Jan-14 American Energy Partners, LP XOM $600 30,000 $20,000
Jan-14 American Energy Partners, LP Hess Corporation $924 74,000 $12,486
Aug-13 Magnum Hunter Resources; Triad Hunter MNW Energy, LLC $142 32,000 4,441
Aug-13 Undisclosed company(ies) EnerVest, Ltd. $228 18,190 $12,551
Aug-13 Undisclosed company(ies) EV Energy Parnters, L.P. $56 4,345 12,888
Feb-13 Gulfport Energy Corporation Wexford Capital LP $220 22,000 10,000
Jan-13 Carrizo Oil & Gas Incorporated Avista Capital Partners LLC $63 11,200 5,634
Dec-12 Gulfport Energy Corporation Wexford Capital LLC $372 37,000 10,054
Sep-12 Undisclosed Chesapeake $600 NA NA
Jun-12 Halcon Resources Undisclosed $194 31,809 6,099
Feb-12 Magnum Hunter Resources; Triad Hunter Undisclosed $25 12,186 2,035
Feb-12 Antero Resources Undisclosed $112 19,000 5,895
Sep-11 Hess Corporation Marquette Exploration $750 85,000 8,800
Sep-11 Hess Corporation CONSOL Energy $593 100,000 6,000
Mean $344 34,062 $10,430
Median $224 26,000 $10,000
Total Transaction
Value ($MM)
Implied
$ / Acre
17
19. Stalder Pad Drilling Locations
Magnum Hunter announced the
initial production results from the
first Utica horizontal well on the
Stalder Pad on 2/14/14
• Tested at a peak rate of 32.5
MMCF of natural gas per day
• Drilled to a true vertical depth
of 10,653 feet with a 5,050
foot horizontal lateral
• Successfully fracked with 20
stages
The first Marcellus horizontal well
on the Stalder Pad has been
completed and tested
• Drilled to a true vertical depth
of 6,070 feet with a 5,474 foot
horizontal lateral
Currently testing three new
horizontal Utica wells (Stalder
#6UH, Stalder #7UH and Stalder
#8UH)
All five wells will be placed on
production in February 2015
MHR -
Eighteen Pl
MHR - Stalder #3UH
32.5 MMCF | 97% Methane
18
21. Stewart-Winland Pad Drilling Locations
The Stewart-Winland Pad located in
Tyler County, WV has seven planned
laterals
• Four wells have been drilled and
completed on the North Unit (3
Marcellus and 1 Utica)
• Three wells will be drilled on the
South Unit (3 Marcellus)
Utica Well was fracture stimulated (22
stages) and tested at a peak rate of 46.5
MMCF
The three Marcellus wells tested at
peak rates of 17.0 MMCFE, 17.1 MMCFE
and 16.8 MMCFE, respectively
Immediate take-away capacity on the
Eureka Hunter Pipeline system allowed
all wells to be tied in and flow to sales
FEET
0 2,000
FEET
0 2,000
Tyler County, West Virginia
Marcellus Horizontal Well
Magnum Hunter Acreage
Utica Horizontal Test Well
MHR - Stewart-Winland Pad
Seven Planned Laterals
MHR / JV Partner Acreage
Stewart-Winland #1300U
Peak Test Rate: 46.5 mmcf/d
20
25. New Marcellus/Utica Production Planned in
2015
Note: This information constitutes forward-looking statements and is subject to the qualifications on the last page of this investor presentation
(1) Wells are currently in the process of drilling, completing, and/or waiting on sales
(2) Based on estimated IP-30 day rate (average daily amount of production during the first 30 days of production)
(3) Includes NGLs and condensate
MHR Working MHR Net Estimated Gross Production
(2)
Estimated Net Production
(2)
Anticipated
Interest Revenue Interest Boe/d(3) Mcfe/d Boe/d(3) Mcfe/d Timing
Farley #1306H Washington County, Ohio 100% 85% 1,667 10,000 1,417 8,502 6/30/15
Farley #1304H Washington County, Ohio 100% 85% 1,667 10,000 1,417 8,502 6/30/15
Farley #1305H Washington County, Ohio 100% 85% 500 3,000 425 2,550 6/30/15
Ormet #8-15UH Monroe County, Ohio 100% 95% 2,917 17,500 2,771 16,625 9/1/15
Ormet #9-15UH Monroe County, Ohio 100% 95% 2,917 17,500 2,771 16,625 9/1/15
Ormet #10-15UH Monroe County, Ohio 100% 95% 2,917 17,500 2,771 16,625 9/1/15
Wells-Meckley #1401 Tyler County, West Virginia 100% 87% 755 4,530 657 3,941 10/1/15
Wells-Meckley #1402 Tyler County, West Virginia 100% 87% 755 4,530 657 3,941 10/1/15
Stephens #1407 MH Ritchie County, West Virginia 100% 87% 755 4,530 657 3,941 11/1/15
McNabb UH Noble County, Ohio 89% 78% 1,667 10,000 1,300 7,802 12/31/15
Reed UH Noble County, Ohio 85% 73% 1,667 10,000 1,217 7,301 12/31/15
18,183 109,090 16,059 96,355
Well Name(1)
Location
24
27. Eureka Hunter Highlights
Location
• Strategically located asset base
• Northern West Virginia (Primary: Tyler, Ritchie, Wetzel, Pleasants, Doddridge
Secondary: Marion, Harrison, Lewis, Monongalia)
• Southeastern Ohio (Monroe, Washington)
Basins
• Marcellus (wet gas window); ~50% of 2017 volumes
• Dry Utica; ~50% of 2017 volumes
Length
• Currently 177 miles – 73 miles completed in 2014
• Total pipe laid by year-end 2015 ~205 miles
Capacity • Recent peak rate of ~406,000 MMBtu/d and ultimate maximum capacity of 1.8 Bcf/d
Interconnects
• Processing plants: 2 (4 additional prospective)
• Transmission: 4 (6 additional prospective)
Services
• Provides network of wellhead gas gathering and delivery to specified delivery points
(interstate pipeline for dry gas, processing plant for rich gas)
Customers
• 9 producers in West Virginia and Ohio
• Top 2 account for majority of expected volumes (including MHR)
Contracts
• Mix of reservation fees and volumetric fees
• Long-term contracts – 10 year minimum
• Volumetric fees with acreage dedication
• Potential compression fees (per stage, as needed)
26
28. New Strategic Partner
In early October 2014, an affiliate of Morgan Stanley Infrastructure Inc. (“MSI”)
purchased all convertible preferred and common equity interests in Eureka
Hunter Holdings, LLC, previously owned by ArcLight Capital
MSI and the Company are currently common equity interest members in Eureka
Hunter Holdings, LLC (no preferred equity outstanding any more)
In a second closing, that occurred in December 2014, Magnum Hunter sold MSI
an additional common equity interest in Eureka Hunter Holdings, LLC for ~$55
million
This represents an implied equity value of Eureka Hunter Holdings, LLC of ~$1.0 billion
Magnum Hunter will have the right to defer a portion of certain of its required
future capital contributions to Eureka
Capital contribution deferral subject to a maximum of $60 million for a specified period
Magnum Hunter will have the right to make capital contributions within such specified periods
that will return ownership interest back to the level prior to the capital call
This catch-up feature will be at no cost to Magnum Hunter
27
29. Contracted vs. Gathered Volumes
Recent peak throughput rate of ~406,000 MMBtu/d in January 2015
Note: This information constitutes forward-looking statements and is subject to the qualifications on the last page of this investor presentation
Eureka Hunter Pipeline 1Q 2013 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014 3Q 2014
High Pressure Reservation Volume (MMBtu/d)
Magnum Hunter 87,950 92,339 75,000 75,000 83,500 96,000 111,400
Third-Parties 35,000 47,000 88,000 88,000 88,000 88,000 85,400
Total 122,950 139,339 163,000 163,000 171,500 184,000 196,800
High Pressure Throughput Volume (MMBtu/d)
Magnum Hunter 21,880 29,276 39,421 54,306 69,426 84,697 67,298
Third-Parties 29,350 37,011 44,120 63,713 83,033 138,875 174,081
Total 51,230 66,287 83,541 118,019 152,459 223,572 241,379
28
30. Eureka Hunter Utica Exposure
MONROE
MORGAN
NOBLE
WASHINGTON
DODDRIDGE
MARSHALL
PLEASANTS
RITCHIE
WETZEL
WIRT
TYLER
WOOD
HARRISON
MarkWest
Seneca
Blue Racer
Berne
Farley Units
29
33. Appalachia Differentials
Appalachia Net Demand Overview
Seasonal winter demand to drive better pricing in Q4
2014 and Q1 2015
Pricing improvements in 2015+ expected as year-
over-year demand is positive
New Interconnects will reduce differential volatility:
• Dominion Transmission Interconnect
(Completed)
• Columbia Interconnect (Completed)
• Blue Racer Interconnect (December 15, 2014)
• Spectra Interconnect (January 12, 2015)
• REX Interconnect (January 12, 2015)
• Dominion-East Ohio Interconnect (2Q 2015)
Source: Wall Street Research
(6.0)
(4.0)
(2.0)
–
2.0
4.0
6.0
8.0
10.0
12.0
1Q14
2Q14
3Q14
4Q14
1Q15
2Q15
3Q15
4Q15
1Q16
2Q16
3Q16
4Q16
Bcf/d
Net demand (supply) after interstate exports
Y-o-Y change in net demand (supply) after interstate exports
32
34. Midstream Outlook – Proposed Interstates
Pipeline Project Receipt Area Delivery Area Capacity Rate In Service
Domion Transmission Lebanon West Cadiz Plant-Harlem Springs Lebanon 350,000 Tariff Nov-13
ANR 2014 Lebanon Reversal Lebanon Glenn Karn 350,000 Tariff Mar-14
ANR 2015 Lebanon Reversal Lebanon Glenn Karn 350,000 Tariff Nov-15
TETCO U2GC Uniontown Lebanon-Gas City 425,000 Tariff Nov-15
Rockies Express East to West Clarington Lebanon-REX Z3 1,800,000 $0.50 Jun-16
Texas Gas Transmission Ohio Louisiana Access Lebanon TGT Z1-SL 450,000 $0.15 Jun-16
Texas Gas Transmission Southern Indian Market Lateral Lebanon TGT Zone 3 150,000 $0.32 Jul-16
Columbia Gas Leach Xpress Clarington, other OH & WV Leach 1,500,000 $0.55 Nov-16
Columbia Gulf Rayne Xpress Leach Mainline, Rayne 1,200,000 $0.30 Nov-16
Rockies Express Clarington West Clarington Lebanon and Pts West 2,400,000 $0.40-$0.45 Jan-17
Texas Gas Northern Supply Access Lebanon Perryville and LA 584,000 $0.32-$0.35 Apr-17
Energy Transfer Rover Clarington Defiance/Dawn 2,750,000 $0.80 Jun-17
ANR East Clarington Michcon 2,000,000 $0.77 Nov-17
East Clarington Dawn (2nd del option) $1.26 Nov-17
Columbia Gas WB Xpress Broadrun, WV Loudoun, VA 1,200,000 $0.75 Jun-18
EQT Mountain Valley Mobley, EQT Sunrise Transco Zone 5 2,000,000 $0.65-$0.75 Oct-18
33
35. Eureka Hunter Pipeline - Construction
Challenging Terrain Welding Up Pipeline
Connection
Strung Pipe Before
Being Lowered
34
36. TransTex Hunter
TransTex Hunter, LLC (“TransTex”) founded in 2006; acquired by Eureka Hunter in
April 2012 and operates as a wholly-owned subsidiary
Designs and fabricates gas treating plants out of its 10-acre fabrication yard
Assets for gas treating, processing, dehydration and separation equipment
Significant market position in treating plants 60 GPM and smaller
Approximately 45 units currently deployed and in operation with 22 customers
Majority of the plants located in Texas – in both conventional and unconventional oil / gas
fields
Building new units in Hallettsville fabrication shop to meet increased demand
Operations team - Design, build, install and operate all sizes of gas treating plants
Over 80% of revenue from facilities TransTex provides operations; 24 - 36 months
Majority of plants remain in place beyond the term of original agreement
New president appointed in December 2014
35
39. Drilling Fleet Overview
Current fleet of six (6) drilling rigs
• One (1) – Schramm TXD 500
– Rig #7
o Spud first well (Stalder Pad) on July 1, 2013
o Contract Rate of $24,000/day
o Two (2) year term with Triad Hunter
• Five (5) – Schramm TXD 200
– Rig #4
o Contracted with EQT through December 2015
o Contract Rate of $12,500/day
– Rig #5
o Contracted with EQT through December 2015
o Contract Rate of $12,500/day
– Rig #6
o Contracted with EQT through December 2015
o Contract Rate of $12,500/day
– Rig #8
o Contracted with EQT through December 2015
o Contract Rate of $12,500/day
– Rig #9
o Currently idle for refurbishing
38
40. $0
$5
$10
$15
$20
$25
$30
$35
2010 2011 2012 2013 2014
Revenues($inmillions)
Revenues
Alpha Hunter Growth Continues
Note: This information constitutes forward-looking statements and is subject to the qualifications on the last page of this investor presentation
(1) Estimated annual revenue for Alpha Hunter Drilling
(1)
39
41. Alpha Hunter Experience
Company # of Wells Drilled
Bretagne 1
CNX Gas 8
Consol 3
Central WV Oil & Gas 1
Dominion 34
Eagle Ford Hunter 15
Eclipse 32
EQT 246
EXCO Resources 57
Green Hunter Water 4
Hildreth 7
PetroEdge 1
Rex Energy 2
Rogers & Son 1
Rouzer Oil 5
Triad Hunter 21
Virco 1
TOTAL WELLS DRILLED(1) 439
Year # of Wells Drilled
2010 51
2011 64
2012 69
2013 148
2014(1) 107
TOTAL 439
(1) Wells drilled through September 2014 40
43. Williston Basin Overview
OverviewAreas of Operation
Proved Reserves and PV-10
• Total proved reserves of 7.9 MMBoe as of
12/31/14
• Proved producing reserves of 5.2 MMBoe
as of 12/31/14
• Total Proved PV‐10 of $143.5 million as of
12/31/14
• PDP PV‐10 of $130.1 million as of
12/31/14
Acreage
• ~88,600 net acres in the Williston Basin in
Divide County
– All acres located in North Dakota
Drilling Opportunities
• Drilling locations target the Middle
Bakken/Three Forks Sanish
• 178 gross producing wells in Divide
County, North Dakota
New 2015 Completions
• 2 gross wells brought on production
• 2 gross wells currently being completed
42
45. Financial Strategy
Capital spending driven by rates of return across all operating areas
2015 capital budget will focus predominately on high return areas in the Appalachian Basin
Closed Calgary and Denver offices in January of 2015 with substantial overhead reduction
Moving Houston Headquarters to Dallas April 1, 2015 to further reduce G&A
Continued emphasis on G&A reductions with asset sales coupled with a decreased reliance on third-party
consultants
Maintain manageable credit ratios and liquidity while managing growth
Second Lien loan structure protects against potential borrowing base reductions due to commodity prices
Raised a total of $180 million of new common equity in 2014
Closed on over $210 million of non-core asset divestitures in 2014
Pursuing additional non-core asset divestitures
Goal is to ultimately simplify balance sheet
Maintain an active hedging program to support economic returns and ensure strong coverage
metrics
Target rolling 50% hedging program one to two years forward – will hedge further opportunistically
Current natural gas hedges in place provide ~$4.09/MMBtu on ~20% of estimated 2015 production
44
46. Adjusted EBITDAX Reconciliation
FYE 2010 FYE 2011 FYE 2012 FYE 2013 FYE 2014
(1)
Net income (loss) from continuing operations ( 22.3) ( 76.7) ( 119.7) ( 204.1)
Unrealized (gain) loss on derivatives 3.1 4.2 ( 10.9) 17.1
Net interest expense 3.6 12.0 51.6 72.4
Income taxes expense (benefit) - ( 0.7) ( 19.3) ( 70.3)
Impairment of oil and gas properties 0.3 22.9 3.8 10.0
Depreciation, depletion and amortization 8.9 49.1 59.7 99.2
Non-Cash stock compensation expense 6.3 25.1 15.7 13.6
Non-Cash 401K matching expense - - 1.4 1.9
Exploration expense 0.9 1.5 78.2 97.3
(Gain) loss on sale of assets ( 0.1) ( 0.2) 0.6 44.7
Unrealized (gain) loss on investments - - - 0.8
Non-recurring transaction and other expense 3.4 13.2 15.1 29.8
Total Adjusted EBITDAX $4.2 $50.4 $76.2 $112.4 $175.0
Please note Adjusted EBITDAX includes net income from continuing operations (excludes net income from discontinued operations)
(1) Estimated full year consolidated EBITDAX
Average Annual Increase of Adjusted EBITDAX of ~314%
45
47. Non-Core Divestiture Overview
(1) Includes $15.0 million of cash and $9.5 million of stock
Asset Sales Value ($MM)
Completed in 2013
Eagle Ford Sale $401.0
Gain on Sale of PVA Stock $10.6
Burke County, North Dakota - Non-Operated Properties $32.5
North Dakota - Madison Waterfloods - Operated Properties $45.0
Red Star Gold $1.5
Subtotal for 2013 $490.6
Completed in 2014 YTD
Other Eagle Ford Shale Properties - Atascosa County(1)
$24.5
Alberta Properties $8.7
Williston Hunter Canada, Inc. - Saskatchewan, Canada $67.5
Vadis Field - West Virginia $0.5
Non-Core North Dakota Non-Op $23.0
Bakken Non-Op (Baytex) $84.8
Richardson & Rock Creek Fields (WV Waterfloods) $1.1
Subtotal for 2014 $210.1
In Process (Est.)
Kentucky Gas Properties $45.0 - $70.0 (Est.)
Subtotal for 2015 $45.0 - $70.0 (Est.)
Total Non-Core Assets $745.7 - $770.7 (Est.)
Focused on divesting non-core assets to redeploy capital into Utica / Marcellus
Over $700 million raised since beginning of 2013
46
48. Crude Oil and Natural Gas Hedges
(1) NYMEX strip pricing as of 9/30/2014
(2) Includes three-way oil collars: Floors sold (put) by year are as follows: 2014: 4,663 bbls/d at $64.95 ; 2015: 259 bbls/d at $70.00
(3) Does not include 1,570 bbls/d at $120.00 of sold calls in 2015
Crude Oil 2014 2015 2016
NYMEX Average (1)
$94.03 $90.56 $88.08
Weighted-Average Hedge Price With Ceilings $100.90 $115.93 -
Weighted-Average Hedge Price With Floors $85.00 $85.00 -
Weighted-Average Swap Price - - -
Hedge Volumes (2)(3)
4,663 259 -
Natural Gas 2014 2015 2016
NYMEX Average (1)
$4.19 $4.03 $4.11
Weighted-Average Hedge Price With Ceilings $5.23 - -
Weighted-Average Hedge Price With Floors $4.23 - -
Weighted-Average Swap Price $4.21 $4.09 -
Hedge Volumes (2)(3)
56,000 40,000 -
47
49. MHR Net Asset Value*
* See Appendix for information regarding NAV, PV-10 and Standardized Measure
(1) Includes the proved reserves from year-end 2014 reserve report
(2) Approximate amount of undeveloped acreage as of December 31, 2014
(3) Based on MHR’s estimated total market valuation of Eureka Hunter Pipeline of between $1.0 billion and $1.5 and MHR’s approximate 48% equity ownership of Eureka Hunter Pipeline
(4) MHR’s estimated FMV of Alpha Hunter Drilling
(5) As of August 7, 2014 there were ~199.4 million shares outstanding
Assumptions Valuation
($ in thousands) Low High Low High
Total Proved Reserves PV-10 (12/31/2014) (1)
909,300 909,300
Undeveloped Acreage (2)
Low High
Williston Basin U.S. 42,700 $3,000 $5,000 $128,100 $213,500
Marcellus 48,000 $5,000 $7,000 $240,000 $336,000
Utica - Wet 50,000 $10,000 $15,000 $500,000 $750,000
Utica - Dry 68,000 $12,500 $16,500 $850,000 $1,122,000
Other Appalachia 165,000 $50 $100 $8,250 $16,500
Total $1,726,350 $2,438,000
Total E&P Assets $2,635,650 $3,347,300
Certain Other Assets (12/31/2014)
Eureka Hunter Pipeline - MHR Share of Estimated Total Market Value (3)
$437,400 $680,400
Alpha Hunter Drilling (4)
$20,000 $40,000
Total $457,400 $720,400
Total Asset Value $3,093,050 $4,067,700
Less (12/31/2014):
. Series C Preferred $100,000 $100,000
Series D Preferred $221,244 $221,244
Series E Preferred $95,069 $95,069
2nd Lien Term Loan $340,000 $340,000
Senior Notes $600,000 $600,000
Other Debt $25,609 $25,609
Total $1,381,922 $1,381,922
Net Asset Value $1,711,128 $2,685,778
Shares Outstanding (5)
199.4 199.4
Net Asset Value per Share $8.58 $13.47
$/acre
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50. A Focused Company on the Right Path
Proven management and technical team in place committed to proper
capital allocation for future growth
Successful proven track record in the development and highgrading of
key resource plays in the US
Improved balance sheet ($180 MM of new Equity) and over $210 MM
of non-core divestitures completed in 2014
Sold over $700MM in oil properties over the last two years
Substantial decrease in G&A due to Appalachia focus
Continued focus on operational efficiency and net margin expansion
Commitment to best practices regarding financial and operational
procedures
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51. Equity Research Analyst Coverage:
Website: www.magnumhunterresources.com
Headquarters: 777 Post Oak Blvd., Suite 650
Houston, TX 77056
(832) 369-6986
Contact: Investor Relations
(832) 203-4539
ir@magnumhunterresources.com
BMO Capital Markets MLV Partners
Canaccord Genuity RBC Capital Markets
Capital One Southcoast Robert W. Baird & Co.
Citigroup Global Markets Stephens
Credit Suisse Securities Stifel Nicolaus
Deutsche Bank Securities SunTrust Robinson Humphrey
GMP Securities Topeka Capital Markets
Imperial Capital UBS Securities
KeyBanc Capital Markets Wunderlich Securities
KLR Group
Equity Research Coverage / Contact Information
Magnum Hunter Resources (NYSE: MHR)
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52. Appendix
Net Asset Value
Although Magnum Hunter does not consider “Net Asset Value” and “Net Asset Value Per Share” to be “non-GAAP financial measures,” as defined in SEC rules, Magnum Hunter uses
Net Asset Value as an estimate of fair value. Net Asset Value and Net Asset Value Per Share should not be considered as alternatives to PV-10, GAAP Stockholders Equity or GAAP per
share net income (loss) amounts. Magnum Hunter’s NAV calculation is based on numerous assumptions that may change as a result of future activities or circumstances.
PV-10
PV-10 is the present value of the estimated future cash flows from estimated total proved reserves after deducting estimated production and ad valorem taxes, future capital costs and
operating expenses, but before deducting any estimates of future income taxes. The estimated future cash flows are discounted at an annual rate of 10% to determine their "present
value." We believe PV-10 to be an important measure for evaluating the relative significance of our oil and gas properties and that the presentation of the non-GAAP financial measure
of PV-10 provides useful information to investors because it is widely used by professional analysts and investors in evaluating oil and gas companies. Because there are many unique
factors that can impact an individual company when estimating the amount of future income taxes to be paid, we believe the use of a pre-tax measure is valuable for evaluating the
Company. We believe that PV-10 is a financial measure routinely used and calculated similarly by other companies in the oil and gas industry. However, PV-10 should not be considered
as an alternative to the standardized measure as computed under GAAP.
The standardized measure of discounted future net cash flows relating to Magnum Hunter's total proved oil and natural gas reserves is as follows:
December 31, 2014
Unaudited
Future cash inflows $ 3,282,768
Future production costs 1,443,121
Future development costs 219,509
Future income tax expense -
Future net cash flows 1,620,138
10% annual discount for estimated timing of cash flows (710,875)
Standardized measure $ 909,263
PV-10 as of December 31, 2014(1)
$ 909,263
December 31, 2013
Standardized measure as previously reported $ 844,510
PV-10:
Add: income taxes
Undiscounted income taxes 149,367
10% discount factor (71,807)
Future discounted income taxes 77,560
PV-10 as previously reported 922,070
Less 2014 Divestitures (176,300)
PV-10 as of December 31, 2013, adjusted for 2014 divestitures $ 745,770
(1) as of December 31, 2014, standardized measure of discounted future cash flows and PV-10 are the same due to the Company's income tax position.
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53. Forward-Looking Statements
The statements and information contained in this presentation that are not statements of historical fact, including any estimates and assumptions contained herein, are "forward looking statements" as defined in Section 27A of the
Securities Act of 1933, as amended, referred to as the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, referred to as the Exchange Act. These forward-looking statements include, among others,
statements, estimates and assumptions relating to our business and growth strategies, our oil and gas reserve estimates, estimates of oil and natural gas resource potential, our ability to successfully and economically explore for and
develop oil and gas resources, our exploration and development prospects, future inventories, projects and programs, expectations relating to availability and costs of drilling rigs and field services, anticipated trends in our business or
industry, our future results of operations, our liquidity and ability to finance our exploration and development activities and our midstream activities, market conditions in the oil and gas industry and the impact of environmental and
other governmental regulation. In addition, with respect to any pending transactions described herein, forward-looking statements include, but are not limited to, statements regarding the expected timing of the completion of
proposed transactions; the ability to complete proposed transactions considering various closing conditions; the benefits of any such transactions and their impact on the Company's business; and any statements of assumptions
underlying any of the foregoing. In addition, if and when any proposed transaction is consummated, there will be risks and uncertainties related to the Company's ability to successfully integrate the operations and employees of the
Company and the acquired business. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "could," "should," "expect," "intend," "estimate," "anticipate," "believe,"
"project," "pursue," "plan" or "continue" or the negative thereof or variations thereon or similar terminology.
These forward-looking statements are subject to numerous assumptions, risks, and uncertainties. Factors that may cause our actual results, performance, or achievements to be materially different from those anticipated in forward-
looking statements include, among others, the following: adverse economic conditions in the United States and globally; difficult and adverse conditions in the domestic and global capital and credit markets; changes in domestic and
global demand for oil and natural gas; volatility in the prices we receive for our oil, natural gas and natural gas liquids; the effects of government regulation, permitting and other legal requirements; future developments with respect to
the quality of our properties, including, among other things, the existence of reserves in economic quantities; uncertainties about the estimates of our oil and natural gas reserves; our ability to increase our production and therefore our
oil and natural gas income through exploration and development; our ability to successfully apply horizontal drilling techniques; the effects of increased federal and state regulation, including regulation of the environmental aspects, of
hydraulic fracturing; the number of well locations to be drilled, the cost to drill and the time frame within which they will be drilled; drilling and operating risks; the availability of equipment, such as drilling rigs and transportation
pipelines; changes in our drilling plans and related budgets; regulatory, environmental and land management issues, and demand for gas gathering services, relating to our midstream operations; and the adequacy of our capital
resources and liquidity including, but not limited to, access to additional borrowing capacity.
These factors are in addition to the risks described in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's 2013 annual report on Form 10-K, as
amended, filed with the Securities and Exchange Commission, which we refer to as the SEC, and subsequently filed quarterly reports on Form 10-Q. Most of these factors are difficult to anticipate and beyond our control. Because
forward-looking statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such statements. You are cautioned not to place undue reliance on forward-looking statements
contained herein, which speak only as of the date of this document. Other unknown or unpredictable factors may cause actual results to differ materially from those projected by the forward-looking statements. Unless otherwise
required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. We urge readers to review and consider disclosures we make
in our reports that discuss factors germane to our business. See in particular our reports on Forms 10-K, 10-Q and 8-K subsequently filed from time to time with the SEC. All forward-looking statements attributable to us are expressly
qualified in their entirety by these cautionary statements.
The SEC requires oil and natural gas companies, in filings made with the SEC, to disclose proved reserves, which are those quantities of oil and natural gas that by analysis of geoscience and engineering data can be estimated with
reasonable certainty to be economically producible from a given date forward, from known reservoirs, and under existing economic conditions, operating methods, and government regulations.
Probable reserves are those additional reserves that are less certain to be recovered than proved reserves but which, together with proved reserves, are as likely as not to be recovered. When deterministic methods are used, it is as
likely as not that actual remaining quantities recovered will exceed the sum of estimated proved plus probable reserves. When probabilistic methods are used, there should be at least a 50% probability that the actual quantities
recovered will equal or exceed the proved plus probable reserves estimates. Probable reserves may be assigned to areas of a reservoir adjacent to proved reserves where data control or interpretations of available data are less certain,
even if the interpreted reservoir continuity of structure or productivity does not meet the reasonable certainty criterion. Probable reserves may be assigned to areas that are structurally higher than the proved area if these areas are in
communication with the proved reservoir. Probable reserves estimates also include potential incremental quantities associated with a greater percentage recovery of the hydrocarbons in place than assumed for proved reserves.
Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. When deterministic methods are used, the total quantities ultimately recovered from a project have a low probability of
exceeding proved plus probable plus possible reserves. When probabilistic methods are used, there should be at least a 10% probability that the total quantities ultimately recovered will equal or exceed the proved plus probable plus
possible reserves estimates. Possible reserves may be assigned to areas of a reservoir adjacent to probable reserves where data control and interpretations of available data are progressively less certain. Frequently, this will be in areas
where geoscience and engineering data are unable to define clearly the area and vertical limits of commercial production from the reservoir by a defined project. Possible reserves also include incremental quantities associated with a
greater percentage recovery of the hydrocarbons in place than the recovery quantities assumed for probable reserves. Possible reserves may be assigned where geoscience and engineering data identify directly adjacent portions of a
reservoir within the same accumulation that may be separated from proved areas by faults with displacement less than formation thickness or other geological discontinuities and that have not been penetrated by a wellbore, and the
Company believes that such adjacent portions are in communication with the known (proved) reservoir. Possible reserves may be assigned to areas that are structurally higher or lower than the proved area if these areas are in
communication with the proved reservoir. Where direct observation has defined a highest known oil (“HKO”) elevation and the potential exists for an associated gas cap, proved oil reserves should be assigned in the structurally higher
portions of the reservoir above the HKO only if the higher contact can be established with reasonable certainty through reliable technology. Portions of the reservoir that do not meet this reasonable certainty criterion may be assigned
as probable and possible oil or gas based on reservoir fluid properties and pressure gradient interpretations.
The term “contingent resources” is a broader description of potentially recoverable volumes than probable and possible reserves, as defined by SEC regulations. In this presentation disclosure of “contingent resources” represents a high
estimate scenario, rather than a middle or low estimate scenario. Estimates of contingent resources are by their nature more speculative than estimates of proved, probable, or possible reserves and accordingly are subject to
substantially greater risk of actually being realized by the Company. We believe our estimates of contingent resources and future drill sites are reasonable, but such estimates have not been reviewed by independent engineers.
Estimates of contingent resources may change significantly as development provides additional data, and actual quantities that are ultimately recovered may differ substantially from prior estimates.
Note Regarding Non-GAAP Measures
This presentation includes certain non-GAAP measures, including Adjusted EBITDAX and PV-10, which are described in greater detail in this presentation. Management believes that these non-GAAP measures, which may be defined
differently by other companies, better explain the Company's results of operations in a manner that allows for a more complete understanding of the underlying trends in the Company's business, and are also measures that are
important to the Company’s lenders. However, these measures should not be viewed as a substitute for those determined in accordance with GAAP.
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