dome energy investor presentation #2 2018€¦ · dome energy working interest production ... (in...
TRANSCRIPT
Investor Presentation2018 | OIL AND GAS E&P COMPANY
OIL AND GAS EXPLORATION & PRODUCTION COMPANY
Introduction to Dome EnergyOIL AND GAS EXPLORATION & PRODUCTION COMPANY– Listed on NASDAQ First North Exchange Sweden. [ Ticker: DOME ]– Market valuation MSEK 144 (SEK 0.60/share)– Headquarter in Houston TX. [ corporate office in Stockholm Sweden ]– Field Office locations: Orangefield TX, Corbin KY, Thermopolis WY, New Harmony IN.– 14 Full-time Employees– Diversified Portfolio of conventional and unconventional assets located onshore US.
OIL AND GAS EXPLORATION & PRODUCTION COMPANY
Presentation Overview– Historical & Current Production– Recent Development– Development Inventory– Opportunities– Financials– Balance Sheet– Reserve Report– Management
OIL AND GAS EXPLORATION & PRODUCTION COMPANY
Historical and Current ProductionDOME ENERGYWORKING INTEREST PRODUCTION
5/2017 – Illinois Basin Aquisition10/2017 – Drilling program in Illinois Basin
OIL AND GAS EXPLORATION & PRODUCTION COMPANY
Recent Development...May 2017 purchase of 9 producing wells and 1000 acres in the Illinois Basin– 70 BOPD production– 32 Drilling locations– PV9 value of $2.2MM– Average EUR of 50 MBOCompleted 4 well drilling program on the acquired acreage in October 2017– Peak production of 230 BOPD from the drilled wells with current production of all wells at 190 BOPDClosed on leases that bolt on to existing acreage– Additional 23 locations– Expect to close on additional leases6 well program commenced on January 18th, 2018
OIL AND GAS EXPLORATION & PRODUCTION COMPANY
Drilled and completed 1 well at Orangefield in March 2017– Initial production of 50 BOPD with current production 14 BOPD– 2 Behind pipe zones to exploit when production declines to uneconomic productionNovember 2017 – Reactivated Lance field– $55,000 expenditure to reactivate three wells– Peak production of 126 BOPD with the current production of 18 BOPD and 20 MCFPD– Evaluating high impact behind pipe and PUD opportunityJan 2018 – Reactivating shut-in fields and wells across the portfolio (in progress)–Wyoming – 30 BOPD– Orangefield – 25 BOPD– Concord Dome – 5 BOPD
...Recent Development
OIL AND GAS EXPLORATION & PRODUCTION COMPANY
Development InventoryUnconventional Stacked Mississippian Carbonate play in the Illinois Basin– 32 locations and growing– Concept can be applied to a large regional area in the Illinois basin– Lower geologic and drainage risk when compared to development of mature conventional oilfieldsConventional mature field development
Water Creek – Wyoming – Downspace drilling– Typically Phosphoria fields are developed on 10 – 20 acre development – and is currently 80 acers– 8 locations on 40 acre spacingLake Creek – Wyoming - Infill drilling – 5 locationsOrangefield– Miocene and Frio development– 24 locations primarily targeting Frio development with Miocene backup potential
OIL AND GAS EXPLORATION & PRODUCTION COMPANY
Opportunities...– Significant opportunities to expand acreage footprint through grassroots leasing, –– farm-outs, development partnerships and company or asset purchases
– Producers in the basin have expressed interest in partnering with Dome in –– development and low risk exploration plays
– Prospect opportunities available through grassroots leasing and partnerships– Stacked carbonate play has been produced outside the heart of the current play but– have yet to be tested with slick water fracturing.– Currently evaluating two separate plays of over 2000 acres– Test well would cost $500,000 and could open up a significant area for development
ILLINOIS BASIN
OIL AND GAS EXPLORATION & PRODUCTION COMPANY
...Opportunities...– 300 MBO exploration target in the Packsaddle/Lake Creek area to test –– productivity on south side of fault.
– Potential to buy producing fields and apply water shut-off technologies –– and optimize artificial lift
WYOMING
OIL AND GAS EXPLORATION & PRODUCTION COMPANY
...Opportunities– Mikeska field reactivation– Lance field slick water fracturing recompletion– Orangefield recompletions– Concord Dome completion– Pump upsize and water shut-off at Zimmerman Butte
PORTFOLIO OPTIMIZATION AND REDEVELOPMENT
OIL AND GAS EXPLORATION & PRODUCTION COMPANY
FinancialsTUSD Q3 2017 Q1-Q3 2017 FY 2016Sales Oil and Gas 1 708 5 424 4 306Operating expenses -1 276 -3 756 -3 019G&A -328 -1 264 -2 020Debt forgivness -43 969 17 757EBITDA 362 2 759 16 378
KEY FIGURES Q3 2017 US OPERATION
OIL AND GAS EXPLORATION & PRODUCTION COMPANY
Balance SheetTUSD 17-09-30 16-12-31O&G properties 43 173 43 574 Tangible fixed assets 1 104 575Other non-current assets 1 027 689Other current assets 2 484 1 234Cash 1 421 3 249
49 209 49 321Equity 9 315 15 364Non-current interest bearing debt 19 720 20 470 Intercompany loan 4 897 573Other non-current liabilites 5 904 6 356Current interest bearing debt 5 401 2 993Other current liabilites 3 972 3 565
49 209 49 321
2017-09-30 US OPERATION
OIL AND GAS EXPLORATION & PRODUCTION COMPANY
Reserve Report– Total proven reserves– 6,600 MBOE and $123,940,150 NPV9– Total PDP Reserves
840 MBOE and $27,910,450 NPV9– Additional probable reserves
1,004 MBOE and $15,922,530 NPV9
OIL AND GAS EXPLORATION & PRODUCTION COMPANY
Board and ManagementCompany Management
Paul MørchChief Executive Officer and PresidentMarianne BrandtChief Financial OfficerAlan CookeEngineering & Operations ManagerColin MoodyHead GeologistVictoria AllenVice President, Dome Energy Inc
Dome Energy AB Board of Directors
Håkan GustafssonChairman of the BoardMats GabrielssonBoard MemberPetter HaglandBoard MemberPaul MørchBoard Member
Dome Energy IncBoard of Directors
Paul MørchChairman of the BoardPetter HaglandBoard MemberEspen S. JohansenBoard Member