(Data referencing activities in adjacent acreage has been sourced from publically available information)
|
|
- Tabitha York
- 6 years ago
- Views:
Transcription
1 28 November 2012 Company Announcements Platform Australian Securities Exchange Level 4 20 Bridge Street SYDNEY NSW 2000 By e-lodgement COMPANY PRESENTATION MATERIAL Please find attached to this document a copy of the presentation slides to be used by Aurora Oil & Gas Limited at the Jefferies 2012 Global Energy Conference held on November 29, 2012 in Houston, Texas. The presentation slides will also be used in subsequent marketing meetings in Canada the following week. For Aurora Oil & Gas Limited Julie Foster Company Secretary (Data referencing activities in adjacent acreage has been sourced from publically available information) Technical information contained in this report in relation to the Sugarkane field was compiled by Aurora from information provided by the project operator and reviewed by I L Lusted, BSc (Hons), SPE, a Director of Aurora who has had more than 19 years experience in the practice of petroleum engineering. Mr Lusted consents to the inclusion in this report of the information in the form and context in which it appears.
2 Aurora Oil & Gas Limited Jefferies 2012 Global Energy Conference November 29,
3 Disclaimer This document has been prepared by Aurora Oil & Gas Limited ( Aurora ) in connection with providing an overview to interested analysts / investors and is being provided for the sole purpose of providing preliminary background financial and other information to enable recipients to review certain business activities of Aurora. This presentation is thus by its nature limited in scope and is not intended to provide all available information regarding Aurora. This presentation is not intended as and shall not constitute an offer, invitation, solicitation, or recommendation with respect to the purchase or sale of any securities in any jurisdiction and should not be relied upon as a representation of any matter that a potential investor should consider in evaluating Aurora. Aurora and its affiliates, subsidiaries, directors, agents, officers, advisers or employees do not make any representation or warranty, express or implied, as to or endorsement of, the accuracy or completeness of any information, statements, representations or forecasts contained in this presentation, and they do not accept any liability or responsibility for any statement made in, or omitted from, this presentation. Aurora accepts no obligation to correct or update anything in this presentation. No responsibility or liability is accepted and any and all responsibility and liability is expressly disclaimed by Aurora and its affiliates, subsidiaries, directors, agents, officers, advisers and employees for any errors, misstatements, misrepresentations in or omissions from this presentation. Users of this information should make their own independent evaluation of an investment in or provision of debt facilities to Aurora. Nothing in this presentation should be construed as financial product advice, whether personal or general, for the purposes of section 766B of the Corporations Act 2001 (Cth). This presentation does not involve or imply a recommendation or a statement of opinion in respect of whether to buy, sell or hold a financial product. This presentation does not take into account the objectives, financial situation or needs of any person, and independent personal advice should be obtained. This presentation and its contents may not be reproduced or re-distributed in any way without the express written permission of Aurora. 1
4 Forward-looking information Statements in this presentation which reflect management's expectations relating to, among other things, production estimates, changes in reserves, target dates, Aurora's expected drilling program and the ability to fund development are forward-looking statements, and can generally be identified by words such as "will", "expects", "intends", "believes", "estimates", "anticipates or similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements and may contain forwardlooking information and financial outlook information, as defined by Canadian securities laws. Statements relating to reserves are deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions, that some or all of the reserves described can be profitably produced in the future. These statements are not historical facts but instead represent management's expectations, estimates and projections regarding future events. Although management believes the expectations reflected in such forward-looking statements and financial outlook information are reasonable, forward-looking statements and financial outlook are based on the opinions, assumptions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements and financial outlook information. These factors include risks related to: exploration, development and production; oil and gas prices, markets and marketing; acquisitions and dispositions; our ability to comply with covenants under our debt facilities; competition; additional funding requirements; our ability to raise capital and access debt and equity capital markets; reserve estimates being inherently uncertain; incorrect assessments of the value of acquisitions and exploration and development programs; environmental concerns; availability of, and access to, drilling equipment; reliance on key personnel; title to assets; expiration of licences and leases; credit risk; hedging activities; litigation; government policy and legislative changes; unforeseen expenses; negative operating cash flow; contractual risk; and management of growth. In addition, if any of the assumptions or estimates made by management prove to be incorrect, actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements and financial outlook information contained in this document. Such assumptions include, but are not limited to, general economic, market and business conditions and corporate strategy. Accordingly, readers are cautioned not to place undue reliance on such statements. Further, the financial outlook information regarding future production and future production revenue is included to assist readers in assessing the potential impact of current drilling plans on our performance and may not be appropriate to be relied on for any other purposes. All of the forward-looking information and financial outlook in this presentation is expressly qualified by these cautionary statements. Forward-looking information and financial outlook contained herein is made as of the date of this document and Aurora disclaims any obligation to update any forward-looking information or financial outlook, whether as a result of new information, future events or results or otherwise, except as required by law. In relation to details of the forward looking drilling program, management advises that this is subject to change as conditions warrant, and we can provide no assurances that this number of rigs will be available or will be utilised or than any targeted well count will be achieved. 2
5 Non-GAAP Financial Measures Non-GAAP Financial Measures References are made in this presentation to certain financial measures that do not have any standardized meanings prescribed by generally accepted accounting principles ( GAAP ). Such measures are neither required by, nor calculated in accordance with, IFRS and therefore are considered non-gaap financial measures. Non- GAAP financial measures may not be comparable with the calculation of similar measures by other companies. Funds from Operations and EBITDAX are commonly used in the oil and gas industry. Funds from Operations represent funds provided by operating activities before changes in non-cash working capital. EBITDAX represents net income (loss) for the period before income tax expense or benefit, gains and losses attributable to the disposal of projects, finance costs, depletion, depreciation and amortization expense, other non-cash charges, expenses or income, one-off or non-recurring fees, expenses and charges and exploration and evaluation expenses. The Company considers Funds from Operations and EBITDAX as key measures as both assist in demonstrating the ability of the business to generate the cash flow necessary to fund future growth through capital investment. Neither should be considered as an alternative to, or more meaningful than net income or cash provided by operating activities (or any other IFRS financial measure) as an indicator of the Company s performance. Because EBITDAX excludes some, but not all, items that affect net income, the EBITDAX presented by the Company may not be comparable to similarly titled measures of other companies. Management also uses certain industry benchmarks such as net operating income and operating netback to analyse financial and operating performance. Net Operating Income represents net oil and gas revenue attributable to Aurora after distribution to royalty holders. Operating netback, as presented, represents revenue from production less royalties, state taxes, transportation and operating expenses calculated on a boe basis. Management considers operating netback an important measure to evaluate its operational performance as it demonstrates its field level profitability relative to current commodity prices. 3
6 Disclosure of Reserves; Defined Terms The reserves shown in this presentation are estimates only and should not be construed as exact quantities. Proved reserves are those reserves which can be estimated with a high degree of certainty to be recoverable; probable reserves are those additional reserves which are less certain to be recovered than proved reserves. Possible reserves are those additional reserves which are less certain to be recovered than probable reserves. There is a 10 percent probability that the quantities actually recovered will equal or exceed the sum of proved plus probable plus possible reserves. If the reserves are recovered, the revenues therefrom and the costs related thereto could be more or less than the estimated amounts. Because of governmental policies and uncertainties of supply and demand, the sales rates, prices received for the reserves, and costs incurred in recovering such reserves may vary from assumptions made while preparing this presentation. Estimates of reserves may increase or decrease as a result of future operations, market conditions, or changes in regulations. Unless otherwise indicated, all estimates of reserves in this presentation have been prepared or evaluated in accordance with the COGE Handbook effective as of 31 December, and are derived from the reserves report of Ryder Scott Company, L.P. ( RS ) ( RS Report. RS are qualified independent reserves evaluators under the Canadian Securities Administrators National Instrument Standards of Disclosure for Oil and Gas Activities. Price assumptions used in the RS Report are as follows: FY12/13/14/15/16+: Oil US$101/bbl, US$98/bbl, US$95/bbl, US$92/bbl, and US$91/bbl; and Gas US$3.3/mcf, US$3.9/mcf, US$3.9/mcf, US$3.9/mcf, and US$3.9/mcf. Defined Reserves and Resource Terms bbl means barrel. boe means barrels of oil equivalent, determined using a ratio of 6 Mcf of raw natural gas to 1 bbl of condensate or crude oil, unless otherwise stated. There are now allowances for NGLs within quoted boe figures in this presentation. scf means standard cubic feet. btu means British thermal units m prefix means thousand. mm prefix means million. b prefix means billion. pd or /d suffix means per day. NGL means Natural Gas Liquids, including condensate these products are stripped from the gas stream at 3rd party facilities remote to the field. Boe may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6 Mcf : 1 bbl utilising a conversion ratio of 6 Mcf : 1 bbl may be misleading. Given the value ratio based on the current share price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6 Mcf: 1 bbl may be misleading. Unless stated otherwise all per boe references, are a reference to Aurora s per boe production on a working interest basis i.e. before royalties. 4
7 Overview of Aurora Oil & Gas Perth, Australia headquartered E&P company CEO, COO and most operational staff based in Houston, Texas Founded in listed on both the ASX and TSX (now in the ASX 100 index) Stock symbols AUT.AU and AEF.TO Eagle Ford Shale - Sugarkane field operated by Marathon Oil Company First mover status on highly contiguous ~77,000 gross and 19,300 net acres in the Sugarkane field, Karnes County, TX. Significant inventory of PUD well locations based on 80 acre spacing with 40 net producing wells by end Q Downspacing pilot program underway to investigate 40 and 60 acre spacing within Eagle Ford and additional horizons. Financially conservative Sept 30 - $143MM Cash with $173MM pro-forma liquidity - including $150MM undrawn revolver Q revenue $85 MM, EBITDAX $50MM (1). Key Metrics Market Cap $1.6 Billion Fully Paid Ordinary Shares 448 Million Enterprise Value $1.9 Billion Net Proved Reserves (PDP & PUD) 59 MMBOE 2012 Exit Rate (net after Royalty) 13,450 BOEPD Directors own approx. 7% of the outstanding shares (1) EBITDAX is a supplemental measure of financial performance that is not required by, or presented in accordance with IFRS and is considered a non-gaap measure. See Non-GAAP Financial Measures above. A reconciliation of net earnings after tax to EBITDAX can be found on page 25. 5
8 Pure Play Eagle Ford Producer Sugarkane field Working Interests range from 28% 36% in Karnes County and 9.1% in Atascosa. Concentrated and contiguous 77,000 gross and 19,300 net acres principally in Karnes County, TX exit rate projected to be 13,450 boepd (net to working interest and after royalty) being 96% liquids on a revenue basis 1P reserves of ~80MM boe (pre-royalties, 59MM boe post royalties) YE 2P reserves of ~92MM boe (pre-royalties, 67MM boe post royalties) YE 166 gross wells drilled in 2012 (YE est.) Major infrastructure installed in 2012 Activity focused on condensate and volatile oil windows Low risk, repeatable and scalable Eagle Ford inventory including over 800 gross wells on 80 acre spacing with pilot program investigating 60 and 40 acre spacing. Additional targets in Austin Chalk and Pearsall. 6
9 Sugarkane Infrastructure Centralized processing facilities nine now operational across the field. Scalable capacity for future production profile Large 3rd party gas and oil lines presently under construction - considerable additional capacity in area installed so far in 2012 No current take-away bottlenecks anticipated Major gas and oil marketing contracts in place with DCP, Kinder Morgan and others Oil Pipeline 60,000 bpd capacity Gas Gathering Pipeline Gas Pipeline approx 100 mmbtu capacity Central Facilities 7
10 Oil and Condensate Driven Capital Program Sugarkane Field 2012 Upstream capital focused on drilling the leases to held by production status HBP 85% of leasehold now HBP End Q3 there were 173 gross and 40 net wells on production (205 total gross wells drilled) Over 300 miles of gathering system and nine production facilities installed and in service Aurora acquired an additional 12.5% working interest ( via asset and corporate transactions) in Sugarloaf AMI, resulting in an 18% increase in net acres 2013 Capital Program Plans (Marathon Forecast) 40 net wells (planned) with Marathon as Operator oil and condensate focus Continue 40 and 60 acre spacing, and drilling and completion practices evaluation Continue evaluation of additional opportunities within existing leasehold Deeper Pearsall currently drilling results due after full evaluation Shallower Austin Chalk 60 acre pilot program offsetting current Austin Chalk production Capital Beyond 2013 Broad, low risk, scalable infill development focusing on oil and condensate regions Programs to optimize current production and to enhance reservoir recovery factors Patiently look to expand Eagle Ford liquids rich portfolio within Aurora s target areas 8
11 Marathon: Experienced partner committed to development The Eagle Ford is the top basin we have in the world today we love the geology. Q4 11 Marathon Oil Conference Call Aurora s Sugarkane acreage is operated by Marathon, a S&P 500 energy company Since Nov 11 Marathon agreed ~US$5.5 billion of acquisitions in the Eagle Ford Marathon has allocated ~US$1.5 billion of its annual capital expenditure budget to its Eagle Ford acreage for the next 5 years. Operator committed to optimising drilling, completion and production processes Aurora and Marathon have a common economic imperative for development "Our investment in the Eagle Ford shale a little more than a year ago, and our bolt-on acquisitions since then, continue to deliver value beyond original expectations. Not only have we improved the speed and efficiency of our drilling and completions there, we also continue to optimize well spacing which could significantly increase drillable locations and recoverable reserves. Marathon Oil CEO Clarence Cazalot
12 2012 Operational Summary Operational activity during 3 rd quarter 56 gross wells spudded 45 gross wells commenced production Production performance during 3 rd quarter Average gross production rate for Q of approximately 12,500 boe/d and approximately 14,000 boe/d for September 2012 Increase on Q2 of 50% & 250% on Q3 Well Status end October 2012 Farmout Wells Post Farmout Wells Sugarloaf Longhorn Ipanema Excelsior Total Producing Producing Stimulation Underway Awaiting Stimulation Drilling Total
13 Pilot Program status Q4 activity Additional activities include: Production Logging Micro Seismic Tracer monitoring Well orientation Four wells at 40 acre spacing - producing High rate well test planned Four wells at 40 acre spacing drilling or permitted Four wells at 60 acre spacing with variations in stimulation design - producing Pilot well drilling deeper horizons Two wells at 60 acre spacing with variations in stimulation placement - producing High rate well test planned Six wells at 60 acre spacing with vertical offset within Eagle Ford horizon - producing 11
14 Unsaved Document / 15/08/ / 15:28 Financial overview 12
15 Quarterly Financial summary Selected financial data Revenue (1) EBITDAX (2) (US$ in thousands) (US$ in thousands) $85,483 $57,493 $49,916 $7,280 Q1 $39,567 $27,932 $23,187 $17,570 Q2 Q3 Q4 Q Q Q $3,009 Q1 $21,378 $9,292 $13,241 $13,948 Q2 Q3 Q4 Q $31,639 Q Q Revenue per unit of production (US$/boe) LTM average, $77.04 $76.57 $70.20$71.03 $90.09$75.34$74.11 EBITDAX per unit of production (US$/boe) LTM average, $48.73 $40.85 $40.20 $41.57 $43.29 $31.78 $35.61 Q1 Q2 Q3 Q4 Q Q Q Q1 Q2 Q3 Q4 Q Q Q (1) Revenue from continuing operations (2) EBITDAX is a supplemental measure of financial performance that is not required by, or presented in accordance with IFRS and is considered a non-gaap measure. See Non-GAAP Financial Measures above. A reconciliation of net earnings after tax to EBITDAX can be found on page
16 US$ MM Quarterly Results Trend Revenue EBITDAX Royalties Production and Operating Expenses (incl Sales Taxes) G&A Q1 Q2 Q3 Q4 Q Q Q
17 NET WELL COUNT RBL Borrowing Base Financial Liquidity US$million Cash on hand 30 September Trade and other receivables 73 Trade and other payables (193) Pro forma 30 September 2012 net cash 23 Undrawn Revolver Facility 150 Financial Liquidity 30 September Current Facility Limit US$ 85 MM Reduction due to initial senior high yield notes issuance Redetermination 11 May (based on YE 11 Reserves) US$ 85 MM Redetermination 16 August (based on increase in PDP) US$ 150 MM Next Redetermination Q (based on YE 2012 reserves ) Q4 Q Q Q Q (est) Net Well Count Borrowing Base RBL Current Facility Limit 0 Balance Sheet flexibility established for accelerated development and/or additional Eagle Ford opportunities RBL Borrowing base maturation generally proportional to production / PDP growth 15
18 Hedging Profile Swaps Zero Cost Collars Total Volume Hedged WTI (1) LLS (2) WTI (1) BBL/D oil bbls hedged gross oil bbls hedged gross oil bbls Floor Cap gross hedged price value hedged price value hedged price Price value (mbbls) $/bbl US$mm (mbbls) $/bbl US$mm (mbbls) $/bbl $/bbl US$mm Q $94.5 $ $92 $ $91 $ $ $12 90 $7 Hedge position designed to protect fixed interest costs (1) WTI refers to West Texas Intermediate crude oil (2) LLS refers to Louisiana Light Sweet crude oil 16
19 Key highlights 1 Pure Eagle Ford shale producer 2 Strong management team and experienced partner 3 Rapid production and reserve growth 4 Oil and condensate focused 5 Significant asset value with potential for accretive A&D and M&A 6 Fully funded 17
20 Unsaved Document / 15/08/ / 15:28 Appendix 18
21 Corporate summary Key Facts millions Fully Paid Ordinary Shares 448 Options on issue (varied prices) 5.5 Executive Performance Shares 1.2 Fully diluted Capital 455 September 30, 2012 pro forma working capital $23 Senior Unsecured Notes Due February 2017 $365 Revolving Credit Line Borrowing Base undrawn at September 30, Facility limit $300mm - Borrowing Base grows with PDP $150 Board of Directors and Executive Staff Shareholding (million shares) Jon Stewart Executive Chairman Australian 19.8 Doug Brooks Chief Executive Officer American Graham Dowland Finance Director Australian 2.2 Ian Lusted Technical Director Australian 1.4 Michael Verm Chief Operating Officer American Fiona Harris Non Executive Director Australian 0.1 Gren Schoch Non Executive Director Canadian 5.9 William Molson Non Executive Director Canadian 1.5 Alan Watson Non Executive Director British
22 2012 to end Q3 Development accelerates drilling of 123 new wells at the Sugarkane field during new gross wells producing year to date Production Average gross production rate YTD of approximately 8,600 boe/d (90% liquids) Cumulative gross production 2.35 MMboe Accretive acquisitions mid year 2012 Increased working interest in Sugarkane Field (12.25% WI in the Sugarloaf AMI ) Approx 18% increase in net acres (~2900 net acres) Total acquisition cash costs of ~US$200 million Liquidity increased to fund development US$365 million in senior unsecured notes issued (Feb and Jul 2012) RBL borrowing base increased mid year from US$85 million to US$150 million A$124 million equity issue 2 nd Qtr 2012 Funding to maintain flexible and strong liquidity post Sugarloaf WI acquisitions 20
23 2012 to date continued Financial performance to Q3 2012: Q3 US$mm Increase from Q2 Year to Date US$mm Increase from corresponding period Revenue 85 50% % EBITDAX (1) (2) 50 60% % NPAT (1) (2) 16 60% 35 35% Drilling and field Capex for 9 months to September 30, 2012 of US$310 million Acreage 86% held by production as at end Q Inclusion in ASX 100 index YE11 Reserves - Proved reserves 80.4 MMboe before royalties (3) 1. EBITDAX is a supplemental measure of financial performance that is not required by, or presented in accordance with IFRS and is considered a non-gaap measure. See Non-GAAP Financial Measures above. 2. A reconciliation of net earnings after tax to EBITDAX can be found on page Does not include reserves attributable to 2012 acquisitions 21
24 2012 Full Year Guidance Production Range (1) Estimated annual production (MMboe) of gross, net Estimated December month average production rate (boe/d) 17,300 19,100 gross, 12,800 14,100 net 2012 Guidance: PRIOR GUIDANCE (net) UPDATED GUIDANCE (net) (2) Exit Cumulative Average Dec 12 Month Average Cumulative Average Oil & Condensate 7800 bbl/d 2 MMbbl 5,500 bbl/d 8650 bbl/d 2 MMbbl 5,400 bbl/d NGL 2100 bbl/d 0.40 MMbbl 1,100 bbl/d 2100 bbl/d 0.4 MMbbl 1,100 bbl/d Gas 22.2 MMscf/d 4300 MMscf 11.7 MMscf/d 16.4 MMscf/d 3200 MMscf 8.8 MMscf/d BOE 13,500 boe/d 3.1 MMboe 8,600 boe/d 13,450 boe/d 2.9 MMboe 8,000 boe/d Capex $320 million for drilling and completions in line with budget $80 million for facilities (in field infrastructure and gathering system capital spend accelerated into current year) EBITDAX guidance of US$ million Effective Tax Rate (P&L) of 36-38% - no company income taxes paid on cash basis 1 Based on assumption of 11.7 new net wells on production during Q Values in table represent mid point within above stated production ranges 22
25 2013 Provisional Plans (1) Pilot Program Continue spacing and completion evaluation with further wells likely Continue evaluation of deeper horizons Carry out Austin Chalk pilot program on 60 acre spacing Drilling Schedule Marathon has indicated a plan to spud 139 gross (39.4 net) wells during 2013 on Aurora s acreage This compares to 158 gross (35 net) wells initially planned for 2012 AMI WI 2013 Drilling Schedule Gross Wells Net Wells Sugarloaf 28.1% Longhorn 31.9% Excelsior 9.1% Ipanema 36.4% Total Please refer to Forward -looking information above 23
26 Financial summary Selected financial data Selected financial data (US$ in Thousands) Qtr Dec-11 Qtr Mar-12 Qtr Jun-12 Qtr Sep Months to Sep-12 PRODUCTION: Total net production (boe) - pre-royalty 391, , ,124 1,152,944 2,744,439 Total net production (boe) - post-royalty 288, , , ,840 2,019,752 Daily production (boe/d) - pre-royalty 4,257 4,821 8,364 12,532 7,519 Daily production (boe/d) - post-royalty 3,135 3,506 6,148 9,270 5,534 REVENUES: $/boe $/boe Oil and gas revenues 27,820 39,523 57,341 85,452 $74.12 $76.57 Royalties (7,277) (10,392) (15,403) (22,528) ($19.54) ($20.26) Net Operating Income (1) 20,543 29,131 41,938 62,924 $54.58 $56.31 EXPENSES: Operating expenses (1,989) (3,569) (4,999) (7,417) ($6.43) ($6.55) Production taxes (1,060) (1,382) (1,907) (2,925) ($2.54) ($2.65) Operating Netback (1) 17,494 24,180 35,032 52,582 $45.61 $47.11 Administrative expenses (3,546) (2,802) (3,393) (2,666) ($2.31) ($4.52) EBITDAX (1) (2) 13,948 21,378 31,639 49,916 $43.29 $42.59 Depreciation and depletion (non cash) (2,051) (2,758) (7,250) (14,117) ($12.24) ($9.54) Other Income , $0.05 $2.02 Interest expense (70) (2,873) (4,910) (7,637) ($6.62) ($5.64) Amortisation of Borrowing Costs (non cash) (66) (360) (612) (1,419) ($1.23) ($0.90) Share based payments expense (non cash) (1,398) (1,227) (1,078) (991) ($0.86) ($1.71) Evaluation and exploration costs (637) (479) (2,564) (887) ($0.77) ($1.66) Net Earnings Before Tax 10,062 13,778 20,288 24,923 $21.62 $25.16 Tax Expense Accrual (3) (5,529) (5,073) (9,958) (8,910) ($7.73) ($10.74) Net Earnings After Tax 4,533 8,705 10,330 16,013 $13.89 $14.42 (1) EBITDAX, operating netback and net operating income are supplemental measure of financial performance that are not required by, or presented in accordance with IFRS and are considered non-gaap measures. See Non-GAAP Financial Measures above. (2) A reconciliation of net earnings after tax to EBITDAX can be found on page (3) This represents a movement in the deferred tax provision for future taxes payable. No income tax is expected to be due/paid in 2012 or 2013 based on the current forecast plans for 2013.
27 EBITDA/EBITDAX reconciliation (1) Nine months ended Three months ended Sep-12 Sep-12 Jun-12 Mar-12 Dec-11 US$'000 US$'000 US$'000 US$'000 US$'000 Net earnings after tax 35,048 16,013 10,330 8,705 4,533 Adjustments: Share based payments expense 3, ,078 1,227 1,398 Depreciation and amortization expense 24,125 14,117 7,250 2,758 2,051 Interest income (224) (31) (152) (41) (112) Finance costs 17,811 9,056 5,522 3, Foreign exchange loss/(gain) (3,056) (27) (2,973) (56) (161) Gain on foreign currency derivatives not qualifying as hedge (1,167) 0 (1,167) 0 0 Other Income (63) Net gain on sale of available for sale assets (770) 0 (770) 0 0 Income tax expense/(benefit) 23,940 8,910 9,957 5,073 5,529 EBITDA 99,003 49,029 29,075 20,899 13,311 Exploration and Evaluation costs 3, , EBITDAX 102,932 49,916 31,639 21,378 13,948 (1) EBITDAX is a supplemental measure of financial performance that is not required by, or presented in accordance with IFRS and is considered a non-gaap measure. See Non-GAAP Financial Measures above. 25
BAYTEX ANNOUNCES CLOSING OF STRATEGIC COMBINATION WITH RAGING RIVER, UPDATED 2018 GUIDANCE AND CONFIRMATION OF PRELIMINARY 2019 PLANS
BAYTEX ANNOUNCES CLOSING OF STRATEGIC COMBINATION WITH RAGING RIVER, UPDATED 2018 GUIDANCE AND CONFIRMATION OF PRELIMINARY 2019 PLANS CALGARY, ALBERTA (August 22, 2018) Baytex Energy Corp. ( Baytex )(TSX,
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 8-K
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event
More informationBAYTEX REPORTS Q RESULTS
BAYTEX REPORTS Q1 2015 RESULTS CALGARY, ALBERTA (May 5, 2015) - Baytex Energy Corp. ("Baytex")(TSX, NYSE: BTE) reports its operating and financial results for the three months ended March 31, 2015 (all
More informationYear-end 2017 Reserves
Year-end 2017 Reserves Baytex's year-end 2017 proved and probable reserves were evaluated by Sproule Unconventional Limited ( Sproule ) and Ryder Scott Company, L.P. ( Ryder Scott ), both independent qualified
More informationThird Quarter 2018 Earnings Presentation
Third Quarter 2018 Earnings Presentation November 13, 2018 Stephen I. Chazen Chairman, President & CEO Christopher Stavros Executive Vice President & CFO Brian Corales Vice President, Investor Relations
More informationBank of America Merrill Lynch 2016 Energy Credit Conference
Bank of America Merrill Lynch 2016 Energy Credit Conference New York, New York, June 8, 2016 Rod Gray Chief Financial Officer Advisory Forward-Looking Statements In the interest of providing Baytex's shareholders
More informationNovember 29, 2017 LETTER TO OUR SHAREHOLDERS
MANAGEMENT S DISCUSSION AND ANALYSIS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2017 AND SEPTEMBER 30, 2016 November 29, 2017 LETTER TO OUR SHAREHOLDERS Dear Shareholder: We are pleased to update
More informationBAYTEX REPORTS Q RESULTS AND BOARD APPOINTMENT
BAYTEX REPORTS Q2 2016 RESULTS AND BOARD APPOINTMENT CALGARY, ALBERTA (July 28, 2016) - Baytex Energy Corp. ("Baytex")(TSX, NYSE: BTE) reports its operating and financial results for the three and six
More informationAMENDED RELEASE: BAYTEX REPORTS Q RESULTS
AMENDED RELEASE: BAYTEX REPORTS Q1 2016 RESULTS CALGARY, ALBERTA (May 3, 2016) This release corrects and replaces the release sent for Baytex Energy Corp. at 7:30 AM EDT on May 3, 2016. The AECO Fixed
More informationBAYTEX ANNOUNCES 2019 BUDGET
BAYTEX ANNOUNCES 2019 BUDGET CALGARY, ALBERTA (December 17, 2018) - Baytex Energy Corp. ( Baytex ) (TSX, NYSE: BTE) announces that its Board of Directors has approved a 2019 capital budget of $550 to $650
More informationBAYTEX REPORTS 2016 RESULTS, STRONG RESERVES GROWTH IN THE EAGLE FORD AND RESUMPTION OF DRILLING ACTIVITY IN CANADA
BAYTEX REPORTS 2016 RESULTS, STRONG RESERVES GROWTH IN THE EAGLE FORD AND RESUMPTION OF DRILLING ACTIVITY IN CANADA CALGARY, ALBERTA (March 7, 2017) - Baytex Energy Corp. ("Baytex")(TSX, NYSE: BTE) reports
More informationSecond Quarter 2017 Earnings Presentation
Second Quarter 2017 Earnings Presentation August 9, 2017 Investor Presentation November 2016 Nasdaq Ticker: PVAC Forward Looking and Cautionary Statements Certain statements contained herein that are not
More informationPETRUS RESOURCES ANNOUNCES FOURTH QUARTER AND YEAR END 2017 FINANCIAL & OPERATING RESULTS AND YEAR END RESERVE INFORMATION
PETRUS RESOURCES ANNOUNCES FOURTH QUARTER AND YEAR END 2017 FINANCIAL & OPERATING RESULTS AND YEAR END RESERVE INFORMATION CALGARY, ALBERTA, Thursday, March 8 th, 2018 Petrus Resources Ltd. ( Petrus or
More informationBAYTEX ANNOUNCES 2018 BUDGET AND BOARD SUCCESSION
BAYTEX ANNOUNCES 2018 BUDGET AND BOARD SUCCESSION CALGARY, ALBERTA (December 7, 2017) - Baytex Energy Corp. ( Baytex ) (TSX, NYSE: BTE) announces that its Board of Directors has approved a 2018 capital
More informationNOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
NEWS RELEASE June 25, 2014 200, 707 7 Avenue SW Calgary, Alberta T2P 3H6 Telephone: (403) 262-1901 Facsimile (403) 262-1905 TSXV Trading Symbol: MVN OTC Trading Symbol: MDLNF NOT FOR DISTRIBUTION TO U.S.
More informationPenn Virginia Reports First Quarter 2018 Results and Provides Operational Update
May 8, 2018 Penn Virginia Reports First Quarter 2018 Results and Provides Operational Update -- April 2018 estimated production averaged more than double the average production rate for 2017 -- --- Reaffirms
More informationDriving New Growth TSX:PGF. Peters & Co Presentation September 11, 2018
Driving New Growth Peters & Co Presentation September 11, 2018 Advisories Caution Regarding Forward Looking Information: This presentation contains forward-looking statements within the meaning of securities
More informationCentennial Resource Development Announces Third Quarter 2018 Financial and Operational Results
Centennial Resource Development Announces Third Quarter 2018 Financial and Operational Results DENVER, CO, November 5, 2018 (GLOBE NEWSWIRE) - Centennial Resource Development, Inc. ( Centennial or the
More informationFIRST QUARTER REPORT HIGHLIGHTS
FIRST QUARTER REPORT For the three months ended March 31, 2018 Petrus Resources Ltd. ( Petrus or the Company ) (TSX: PRQ) is pleased to report financial and operating results for the first quarter of 2018.
More informationBAYTEX REPORTS Q RESULTS WITH CONTINUED STRONG EAGLE FORD PERFORMANCE
BAYTEX REPORTS Q1 2018 RESULTS WITH CONTINUED STRONG EAGLE FORD PERFORMANCE CALGARY, ALBERTA (May 3, 2018) - Baytex Energy Corp. ("Baytex")(TSX, NYSE: BTE) reports its operating and financial results for
More informationFinancial Report Second Quarter 2018
Financial Report Second Quarter 2018 www.eagleenergy.com Management s Discussion and Analysis August 9, 2018 This Management s Discussion and Analysis ( MD&A ) of financial condition and results of operations
More informationAnnual and Special Shareholder Meeting May 17, 2018
Annual and Special Shareholder Meeting May 17, 2018 2017 in Review Mandate: Increase light oil exposure Increase netbacks Reduce operating Costs Maintain dividend 2 Grande Prairie Acquisition (March 2017)
More informationEagle Energy Inc. Announces Second Quarter 2018 Results and Previously Announced Sale of Twining Assets
NEWS RELEASE FOR IMMEDIATE RELEASE Eagle Energy Inc. Announces Second Quarter 2018 Results and Previously Announced Sale of Twining Assets Calgary, Alberta - August 9, 2018 (TSX: EGL): Eagle Energy Inc.
More information2016 Results and 2017 Outlook
2016 Results and 2017 Outlook March 2, 2017 Cautionary Statement Regarding Forward-Looking Statements This presentation includes certain forward-looking statements and projections of EP Energy. EP Energy
More informationBELLATRIX ANNOUNCES 2018 YEAR END RESERVES HIGHLIGHTED BY 13% RESERVE GROWTH AND LOW COST RESERVE ADDITIONS
For Immediate Release Calgary, Alberta TSX: BXE BELLATRIX ANNOUNCES 2018 YEAR END RESERVES HIGHLIGHTED BY 13% RESERVE GROWTH AND LOW COST RESERVE ADDITIONS CALGARY, ALBERTA (March 14, 2019) Bellatrix Exploration
More informationTamarack Valley Energy Ltd. Announces Third Quarter 2018 Production and Financial Results Driven by Record Oil Weighting
TSX: TVE Tamarack Valley Energy Ltd. Announces Third Quarter 2018 Production and Financial Results Driven by Record Oil Weighting Calgary, Alberta November 7, 2018 Tamarack Valley Energy Ltd. ( Tamarack
More informationAthabasca Oil Corporation Announces 2018 Year end Results
FOR IMMEDIATE RELEASE March 6, 2019 Athabasca Oil Corporation Announces 2018 Year end Results CALGARY Athabasca Oil Corporation (TSX: ATH) ( Athabasca or the Company ) is pleased to provide its 2018 year
More informationBAYTEX REPORTS 2017 RESULTS WITH 26% INCREASE IN ADJUSTED FUNDS FLOW, 6% INCREASE IN RESERVES AND STRONG EAGLE FORD PERFORMANCE
BAYTEX REPORTS 2017 RESULTS WITH 26% INCREASE IN ADJUSTED FUNDS FLOW, 6% INCREASE IN RESERVES AND STRONG EAGLE FORD PERFORMANCE CALGARY, ALBERTA (March 6, 2018) - Baytex Energy Corp. ("Baytex")(TSX, NYSE:
More informationQ Earnings Presentation
Q1 2015 Earnings Presentation 30 April 2015 1 www.sundanceenergy.net Disclaimers This presentation has been prepared by Sundance Energy Australia Limited (ABN 76 112 202 883). Summary information The following
More informationPoint Loma Resources Announces Third Quarter 2018 Financial and Operating Results
Point Loma Resources Announces Third Quarter Financial and Operating Results Calgary, Alberta, November 23, : Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or Point Loma ) is pleased
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 8-K
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event
More informationFinancial Report Third Quarter 2018
Financial Report Third Quarter www.eagleenergy.com EAGLE THIRD QUARTER REPORT Management s Discussion and Analysis November 8, This Management s Discussion and Analysis ( MD&A ) of financial condition
More informationCARRIZO OIL & GAS, INC.
News PRESS RELEASE Contact: Jeffrey P. Hayden, CFA, VP - Investor Relations (713) 328-1044 David L. Pitts, Chief Financial Officer (713) 328-1000 CARRIZO OIL & GAS, INC. ANNOUNCES STRONG FOURTH QUARTER
More informationSUSTAINABLE DIVIDEND & GROWTH May 2018
SUSTAINABLE DIVIDEND & GROWTH May 2018 Cardinal Profile Shares Outstanding TSX: CJ Basic (1) Fully Diluted (excluding debentures) 110.8 MM 114.0 MM 2018 Annual Dividend ($/share) $0.42 2018 Average Production
More informationFinancial Report First Quarter 2018
Financial Report First Quarter 2018 www.eagleenergy.com Management s Discussion and Analysis May 10, 2018 This Management s Discussion and Analysis ( MD&A ) of financial condition and results of operations
More informationCorporate Presentation. January 2017
Corporate Presentation January 2017 Future Oriented Information (See additional advisories at the end of this document) In the interest of providing information regarding Paramount Resources Ltd. ("Paramount"
More informationFreehold Royalties Ltd. Announces 2017 Results, Increases Dividend and Unveils 2018 Guidance
NEWS RELEASE TSX: FRU Freehold Royalties Ltd. Announces 2017 Results, Increases Dividend and Unveils 2018 Guidance CALGARY, ALBERTA, (GLOBE NEWSWIRE March 8, 2018) Freehold Royalties Ltd. (Freehold) (TSX:FRU)
More informationGMP FirstEnergy - Energy Growth Conference November 15, 2016 Toronto, Ontario. Senior Vice President, Capital Markets & Public Affairs
GMP FirstEnergy - Energy Growth Conference November 15, 2016 Toronto, Ontario Brian Ector Senior Vice President, Capital Markets & Public Affairs Advisory Forward-Looking Statements In the interest of
More informationCanadian Natural Resources Limited MANAGEMENT S DISCUSSION AND ANALYSIS
Canadian Natural Resources Limited MANAGEMENT S DISCUSSION AND ANALYSIS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, AND MANAGEMENT S DISCUSSION AND ANALYSIS Forward-Looking Statements Certain statements
More informationCorporate Presentation. August 2016
Corporate Presentation August 2016 Future Oriented Information (See additional advisories at the end of this document) In the interest of providing information regarding Paramount Resources Ltd. ("Paramount"
More informationQ12018 MANAGEMENT DISCUSSION & ANALYSIS
Q12018 MANAGEMENT DISCUSSION & ANALYSIS MANAGEMENT'S DISCUSSION AND ANALYSIS This management's discussion and analysis ("MD&A") is a review of operations, financial position and outlook for Cardinal Energy
More informationFreedom Oil & Gas Investor Presentation
Freedom Oil & Gas Investor Presentation Houston, August 5, 2018: Freedom Oil and Gas Ltd (ASX: FDM, US OTC: FDMQF) is pleased to release the presentation to be delivered by Freedom Executive Chairman and
More informationTSX V: HME. Achieved a two year average F&D cost of $9.22/boe (including changes in FDC) for a recycle ratio of 1.8.
HEMISPHERE ENERGY INCREASES PROVED PLUS PROBABLE RESERVE VALUE BY 77% TO $116.6 MILLION (DISCOUNTED AT 10%), AND NET ASSET VALUE BY 68% TO $1.12 PER SHARE TSX V: HME Vancouver, British Columbia, March
More informationNEWS RELEASE Bonterra Energy Corp. Announces Third Quarter 2018 Financial and Operational Results
NEWS RELEASE Bonterra Energy Corp. Announces Third Quarter 2018 Financial and Operational Results November 7, 2018 CALGARY, ALBERTA - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ( Bonterra
More informationCRESCENT POINT ANNOUNCES STRATEGIC CONSOLIDATION ACQUISITION OF CORAL HILL ENERGY LTD. AND UPWARDLY REVISED 2015 GUIDANCE
PRESS RELEASE CRESCENT POINT ANNOUNCES STRATEGIC CONSOLIDATION ACQUISITION OF CORAL HILL ENERGY LTD. AND UPWARDLY REVISED 2015 GUIDANCE July 2, 2015 CALGARY, ALBERTA. Crescent Point Energy Corp. ( Crescent
More informationIPAA Oil and Gas Investment Symposium
IPAA Oil and Gas Investment Symposium Investor Presentation April 9-10, 2018 Nasdaq Ticker: PVAC November 2016 Forward Looking and Cautionary Statements Certain statements contained herein that are not
More informationBUILT TO LAST. April 2016
BUILT TO LAST April 2016 Built to Last Low Debt Low Decline Strong Capital Efficiencies 2 Cardinal Energy Profile Shares Outstanding (1) TSX: CJ Basic 65,124,209 ergy Ltd. Fully Diluted 67,595,248 Annual
More informationNEWS RELEASE NOVEMBER 7, 2018
NEWS RELEASE NOVEMBER 7, 2018 TOURMALINE DELIVERS STRONG Q3 EARNINGS AND CASH FLOW GROWTH, INCREASES 2018 EXIT AND 2019 PRODUCTION ESTIMATES AND REDUCES 2019 CAPITAL PROGRAM Calgary, Alberta - Tourmaline
More informationCEQUENCE ENERGY LTD. ANNOUNCES OVER 36 % GROWTH IN RESERVES AND RESERVE VALUE AND FOURTH QUARTER AND YEAR END 2011 RESULTS
CEQUENCE ENERGY LTD. ANNOUNCES OVER 36 % GROWTH IN RESERVES AND RESERVE VALUE AND FOURTH QUARTER AND YEAR END 2011 RESULTS CALGARY, March 8, 2012 Cequence Energy Ltd. ("Cequence" or the "Company") (TSX:
More informationYangarra Announces Second Quarter 2018 Financial and Operating Results
Suite 1530, 715 5 Avenue S.W. Calgary, Alberta T2P 2X6 Phone: (403) 262-9558 Fax: (403) 262-8281 Webpage: www.yangarra.ca Email: info@yangarra.ca August 8, Yangarra Announces Second Quarter Financial and
More informationCEQUENCE ENERGY ANNOUNCES SECOND QUARTER FINANCIAL AND OPERATING RESULTS
CEQUENCE ENERGY ANNOUNCES SECOND QUARTER FINANCIAL AND OPERATING RESULTS CALGARY, August 10, 2017 Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce its operating and
More informationSPARTAN ENERGY CORP. ANNOUNCES STRATEGIC LIGHT OIL ASSET ACQUISITION IN SOUTHEAST SASKATCHEWAN AND $505 MILLION EQUITY FINANCINGS
Suite 500, 850 2 nd Street SW Calgary, AB T2P 0R8 Canada Ph.: (403) 355-8920 Fax: (403) 355-2779 SPARTAN ENERGY CORP. ANNOUNCES STRATEGIC LIGHT OIL ASSET ACQUISITION IN SOUTHEAST SASKATCHEWAN AND $505
More informationSUSTAINABLE DIVIDEND & GROWTH July 2018
SUSTAINABLE DIVIDEND & GROWTH July 2018 Cardinal Profile Shares Outstanding TSX: CJ Basic (1) Fully Diluted (excluding debentures) 110.8 MM 114.0 MM 2018 Annual Dividend ($/share) $0.42 2018 Average Production
More informationCorporate Presentation. April, 2017
Corporate Presentation April, 2017 Future Oriented Information (See additional advisories at the end of this document) In the interest of providing information regarding Paramount Resources Ltd. ("Paramount"
More informationContinuing Success in Heavy Oil
Continuing Success in Heavy Oil Corporate Presentation March 2018 Advisory FORWARD-LOOKING STATEMENTS: This presentation contains certain forward-looking statements and forward-looking information (collectively
More informationACQUISITION OF SPARTAN ENERGY CORP. APRIL 2018
ACQUISITION OF SPARTAN ENERGY CORP. APRIL 2018 ACQUISITION OF SPARTAN ENERGY CORP. ACQUISITION DETAILS Vermilion to acquire Spartan Energy Corp. for total consideration of $1.40 billion, comprised of $1.23
More informationHEMISPHERE ENERGY ANNOUNCES 2017 FOURTH QUARTER AND YEAR-END FINANCIAL AND OPERATING RESULTS
HEMISPHERE ENERGY ANNOUNCES 2017 FOURTH QUARTER AND YEAR-END FINANCIAL AND OPERATING RESULTS TSX-V: HME Vancouver, British Columbia, April 26, 2018 Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere"
More informationINVESTOR UPDATE EP ENERGY CORPORATION. August 2018
INVESTOR UPDATE EP ENERGY CORPORATION August 2018 CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS This presentation includes certain forward-looking statements and projections of EP Energy. EP
More informationBELLATRIX EXPLORATION LTD. ANNOUNCES FOURTH QUARTER 2018 AND YEAR END FINANCIAL AND OPERATING RESULTS
For Immediate Release TSX: BXE BELLATRIX EXPLORATION LTD. ANNOUNCES FOURTH QUARTER 2018 AND YEAR END FINANCIAL AND OPERATING RESULTS CALGARY, ALBERTA (March 14, 2019) - Bellatrix Exploration Ltd. ( Bellatrix,
More informationOne Step Ahead of The Drill Bit
One Ahead of The Drill Bit April 2014 NYSE MKT: NOG Statements made by representatives of Northern Oil and Gas, Inc. ( Northern or the Company ) during the course of this presentation that are not historical
More informationCHINOOK ENERGY INC. ANNOUNCES FOURTH QUARTER 2016 RESULTS AND PROVIDES OPERATIONAL UPDATE
CHINOOK ENERGY INC. ANNOUNCES FOURTH QUARTER 2016 RESULTS AND PROVIDES OPERATIONAL UPDATE CALGARY, ALBERTA March 23, 2017 Chinook Energy Inc. ("our", "we", or "us") (TSX: CKE) is pleased to announce its
More informationEnerCom s The Oil & Gas Conference. August 15, 2012
EnerCom s The Oil & Gas Conference August 15, 2012 Overview of Operations 16 Bakken Tulsa based company founded in 1963 with long history of operations in the Mid-Continent Integrated approach to business
More informationKELT REPORTS SIGNIFICANT INCREASES IN RESERVES AND PRODUCTION IN 2014
PRESS RELEASE (Stock Symbol KEL TSX) February 10, 2015 Calgary, Alberta KELT REPORTS SIGNIFICANT INCREASES IN RESERVES AND PRODUCTION IN 2014 Kelt Exploration Ltd. ( Kelt or the Company ) has released
More informationNews Release March 7, Parex Resources Announces 2016 Fourth Quarter and Full Year Results
News Release March 7, 2017 Parex Resources Announces 2016 Fourth Quarter and Full Year Results Calgary, Canada Parex Resources Inc. ( Parex or the Company ) (TSX:PXT) is pleased to announce its financial
More informationBAYTEX ANNOUNCES FOURTH QUARTER AND FULL YEAR 2018 FINANCIAL AND OPERATING RESULTS AND 2018 YEAR END RESERVES
BAYTEX ANNOUNCES FOURTH QUARTER AND FULL YEAR 2018 FINANCIAL AND OPERATING RESULTS AND 2018 YEAR END RESERVES CALGARY, ALBERTA (March 6, 2019) - ("Baytex")(TSX, NYSE: BTE) reports its operating and financial
More informationCEQUENCE ENERGY ANNOUNCES 35% GROWTH IN RESERVES AND 2012 FINANCIAL AND OPERATING RESULTS
CEQUENCE ENERGY ANNOUNCES 35% GROWTH IN RESERVES AND 2012 FINANCIAL AND OPERATING RESULTS CALGARY, March 7, 2013 Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: "CQE") is pleased to announce its
More informationCorporate Presentation. March 2017
Corporate Presentation March 2017 Future Oriented Information (See additional advisories at the end of this document) In the interest of providing information regarding Paramount Resources Ltd. ("Paramount"
More informationSundance Energy Enercom Oil & Gas Conference. sundanceenergy.net
Sundance Energy 2018 Enercom Oil & Gas Conference sundanceenergy.net Disclaimers Important Notice and Disclaimer IMPORTANT: You are advised to read the following carefully before making any use of the
More informationFreehold Royalties Ltd. Announces Strong Growth in Funds from Operations and Third Quarter Results
NEWS RELEASE TSX: FRU Freehold Royalties Ltd. Announces Strong Growth in Funds from Operations and Third Quarter Results CALGARY, ALBERTA, (GLOBE NEWSWIRE November 14, 2018) Freehold Royalties Ltd. (Freehold)
More informationCEQUENCE ENERGY ANNOUNCES OPERATIONAL UPDATE AND 2014 RESERVES AND FINANCIAL AND OPERATING RESULTS
CEQUENCE ENERGY ANNOUNCES OPERATIONAL UPDATE AND 2014 RESERVES AND FINANCIAL AND OPERATING RESULTS CALGARY, March 5, 2015 Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce
More information2017 EARNINGS CALL. Bahar Central Production Facility
2017 EARNINGS CALL P R E S E N T A T I O N Bahar Central Production Facility DISCLAIMER Outlooks, projections, estimates, targets and business plans in this presentation or any related subsequent discussions
More informationCEQUENCE ENERGY ANNOUNCES FIRST QUARTER 2018 FINANCIAL AND OPERATING RESULTS
CEQUENCE ENERGY ANNOUNCES FIRST QUARTER 2018 FINANCIAL AND OPERATING RESULTS CALGARY, May 15, 2018 Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce its operating and
More informationLAREDO PETROLEUM ANNOUNCES 2014 FIRST-QUARTER FINANCIAL AND OPERATING RESULTS
15 West 6 th Street, Suite, 900 Tulsa, Oklahoma 74119 (918) 513-4570 Fax: (918) 513-4571 www.laredopetro.com LAREDO PETROLEUM ANNOUNCES 2014 FIRST-QUARTER FINANCIAL AND OPERATING RESULTS TULSA, OK May
More informationHEMISPHERE ENERGY ANNOUNCES Q FINANCIAL AND OPERATING RESULTS
HEMISPHERE ENERGY ANNOUNCES Q2 2017 FINANCIAL AND OPERATING RESULTS TSX V: HME Vancouver, British Columbia, August 23, 2017 Hemisphere Energy Corporation (TSX V: HME) ("Hemisphere" or the "Company") announces
More informationCRESCENT POINT ANNOUNCES SASKATCHEWAN VIKING CONSOLIDATION ACQUISITION AND UPWARDLY REVISED GUIDANCE FOR 2014
PRESS RELEASE CRESCENT POINT ANNOUNCES SASKATCHEWAN VIKING CONSOLIDATION ACQUISITION AND UPWARDLY REVISED GUIDANCE FOR 2014 June 12, 2014 CALGARY, ALBERTA. Crescent Point Energy Corp. ( Crescent Point
More informationManagement s Discussion & Analysis. As at September 30, 2018 and for the three and nine months ended September 30, 2018 and 2017
Management s Discussion & Analysis As at 2018 and for the three and nine months ended 2018 and 2017 MANAGEMENT S DISCUSSION & ANALYSIS The following Management s Discussion and Analysis (the MD&A ) has
More informationQUARTERLY ACTIVITIES REPORT 4 RD QTR 2018
Freedom Oil & Gas Ltd ( FDM, Freedom, and Company ) is pleased to provide its quarterly activities report for the quarter ended December 31, 2018 Freedom Oil and Gas Ltd ACN: 128 429 158 ASX: FDM, US OTC:
More informationGulfport Energy Corporation Reports Fourth Quarter and Year-End 2012 Results
February 26, 2013 Gulfport Energy Corporation Reports Fourth Quarter and Year-End 2012 Results OKLAHOMA CITY, Feb. 26, 2013 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (Nasdaq:GPOR) today reported
More informationCentennial Resource Development Announces Full Year 2017 Results, 2017 Year-End Reserves, 2018 Guidance and Increases 2020 Oil Production Target
Centennial Resource Development Announces Full Year 2017 Results, 2017 Year-End Reserves, 2018 Guidance and Increases 2020 Oil Production Target DENVER, CO, February 26, 2018 (GLOBE NEWSWIRE) - Centennial
More informationMANAGEMENT S DISCUSSION AND ANALYSIS
MANAGEMENT S DISCUSSION AND ANALYSIS Management s discussion and analysis ( MD&A ) of financial conditions and results of operations should be read in conjunction with NuVista Energy Ltd. s ( NuVista )
More informationSandRidge Energy, Inc. Reports Financial and Operational Results for Fourth Quarter and Full Year of 2017 HIGHLIGHTS DURING 2017 INCLUDE:
SandRidge Energy, Inc. Reports Financial and Operational Results for Fourth Quarter and Full Year of 2017 Oklahoma City, Oklahoma, February 21, 2018 SandRidge Energy, Inc. (the Company or SandRidge ) (NYSE:SD)
More informationAugust 9, 2017 LETTER TO OUR SHAREHOLDERS
MANAGEMENT S DISCUSSION AND ANALYSIS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2017 AND JUNE 30, 2016 August 9, 2017 LETTER TO OUR SHAREHOLDERS Dear Shareholder: We are pleased to report to you on Karve
More informationPARSLEY ENERGY ANNOUNCES FIRST QUARTER 2017 FINANCIAL AND OPERATING RESULTS; RAISES PRODUCTION GUIDANCE AND LOWERS UNIT COST ESTIMATES
NEWS RELEASE PARSLEY ENERGY ANNOUNCES FIRST QUARTER 2017 FINANCIAL AND OPERATING RESULTS; RAISES PRODUCTION GUIDANCE AND LOWERS UNIT COST ESTIMATES AUSTIN, Texas, May 4, 2017 Parsley Energy, Inc. (NYSE:
More informationZargon Oil & Gas Ltd.
Zargon Oil & Gas Ltd. 2010 FINANCIAL REPORT Focused on exploitation Table of Contents 1 Management s Discussion and Analysis 34 Consolidated Financial Statements 37 Notes to the Consolidated Financial
More informationHarvest Oil & Gas Announces Second Quarter 2018 Results and Divestitures of Central Texas and Karnes County Properties
Harvest Oil & Gas Announces Second Quarter 2018 Results and Divestitures of Central Texas and Karnes County Properties HOUSTON, August 21, 2018 (Globe Newswire) -- Harvest Oil & Gas Corp. ( Harvest or
More informationPETRUS RESOURCES ANNOUNCES SECOND QUARTER 2018 FINANCIAL & OPERATING RESULTS
PETRUS RESOURCES ANNOUNCES SECOND QUARTER 2018 FINANCIAL & OPERATING RESULTS CALGARY, ALBERTA, Thursday, August 9 th, 2018 Petrus Resources Ltd. ( Petrus or the Company ) is pleased to report financial
More informationQ MANAGEMENT DISCUSSION & ANALYSIS
Q3 2018 MANAGEMENT DISCUSSION & ANALYSIS MANAGEMENT'S DISCUSSION AND ANALYSIS This management's discussion and analysis ("MD&A") is a review of operations, financial position and outlook for Cardinal Energy
More informationBNK PETROLEUM INC. ANNOUNCES THIRD QUARTER 2018 RESULTS WITH POSITIVE NET INCOME
760 Paseo Camarillo, Suite 350 Camarillo, California 93010 Phone: (805) 484-3613 Fax: (805) 484-9649 For Immediate Release TSX ticker symbol; BKX OTCQX ticker symbol; BNKPF BNK PETROLEUM INC. ANNOUNCES
More informationSeven Generations board approves $1.25 billion capital budget in 2019
JANUARY 10, 2019 TSX: VII Seven Generations board approves $1.25 billion capital budget in 2019 Includes $1.1 billion to maintain production and $150 million for infrastructure and delineation projects
More informationFORM F1 STATEMENT OF RESERVES DATA AND OTHER OIL AND GAS INFORMATION. Year Ended December 31, 2016
FORM 51-101F1 STATEMENT OF RESERVES DATA AND OTHER OIL AND GAS INFORMATION Year Ended December 31, 2016 March 2, 2017 TABLE OF CONTENTS DATE OF STATEMENT AND RELEVANT DATES... 1 DISCLOSURE OF RESERVES
More informationCEQUENCE ENERGY LTD. AND OPEN RANGE ENERGY CORP. ANNOUNCE BUSINESS COMBINATION AND $32 MILLION EQUITY FINANCINGS
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW. CEQUENCE ENERGY
More information2 P a g e K a r v e E n e r g y I n c.
MANAGEMENT S DISCUSSION AND ANALYSIS FOR THE YEARS ENDED DECEMBER 31, 2018 AND DECEMBER 31, 2017 Dear Shareholder: LETTER TO OUR SHAREHOLDERS March 27, 2019 We are pleased to update you on Karve s progress
More informationFIRST QUARTER REPORT 2014
FIRST QUARTER REPORT 2014 HIGHLIGHTS ($ thousands, except per share and per unit amounts) 2014 2013 % Change Operating Petroleum and natural gas sales 40,893 32,201 27 Production: Oil (bbl/d) 1,337 1,727
More informationFor personal use only
EUREKA ENERGY LTD (ASX: EKA, Company or Eureka) ASX RELEASE 1 MARCH 2011 PRESENTATION MATERIALS Eureka attaches updated corporate presentation materials for release to the market. EUREKA ENERGY LIMITED
More informationINPLAY OIL CORP. ANNOUNCES 2016 YEAR END RESERVES AND AN OPERATIONS UPDATE
March 14, 2017 INPLAY OIL CORP. ANNOUNCES 2016 YEAR END RESERVES AND AN OPERATIONS UPDATE CALGARY, ALBERTA (March 14, 2017) InPlay Oil Corp. ("InPlay" or the "Company") (TSX:IPO) is pleased to present
More information4 TH QUARTER EARNINGS PRESENTATION FEBRUARY 27, 2018
4 TH QUARTER EARNINGS PRESENTATION FEBRUARY 27, 2018 Important Disclosures Forward-Looking Statements This presentation contains projections and other forward-looking statements within the meaning of Section
More informationNOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
NEWS RELEASE May 29, 2014 200, 707 7 Avenue SW Calgary, Alberta T2P 3H6 Telephone: (403) 262-1901 Facsimile (403) 262-1905 TSXV Trading Symbol: MVN OTC Trading Symbol: MDLNF NOT FOR DISTRIBUTION TO U.S.
More informationHoward Weil Energy Conference
Howard Weil Energy Conference Brent Smolik Chairman, President and Chief Executive Officer EP Energy Corporation March 26, 2014 Forward Looking Statements This March 26, 2014 presentation includes certain
More informationRICK MUNCRIEF, CHAIRMAN & CEO FEBRUARY 21, 2019 NYSE: WPX
RICK MUNCRIEF, CHAIRMAN & CEO FEBRUARY 21, 2019 NYSE: WPX 2018: A Pivotal Year of Progress W I L L I S T O N P E R M I A N FOCUSED PORTFOLIO Sold San Juan Gallup in 2018 to become a premier operator in
More information3Q 2018 Earnings Presentation November 5, 2018 CRZO
3Q 2018 Earnings Presentation November 5, 2018 Forward Looking Statements / Note Regarding Reserves This presentation contains statements concerning the Company s intentions, expectations, projections,
More information