Saturn Oil & Gas Inc. · TSX:SOIL
Saturn Oil & Gas — Corporate Update (March 2024)
16 slides from Saturn Oil & Gas's corporate update, March 2024
Slide 1: Guidance Presentation
GUIDANCE PRESENTATION TSX: SOIL FSE: SMKA OTCQX: OILSF
Slide 2: Advisories
Advisories Guidance Presentation Mar/24 This presentation is for informational purposes only and is not intended as a solicitation or offering of securities of Saturn Oil & Gas Inc. (“Saturn” or the “Company") in any jurisdiction. The material presented is not intended to modify, qualify, supplement
Slide 3: Saturn Snapshot: Free Cash Flow Strategy
Saturn Snapshot: Free Cash Flow Strategy Guidance Presentation Mar/24 December 2023 volumes averaged 28,000 boe/d (81% oil & NGLs)(2), eclipsing previously stated 2023 Volumes below are avg Q4/23 exit guidance of 27,000 boe/d (80% oil and NGLs)(2) Conservative Balance Sheet Management ▪ YE 2024 expe
Slide 4: 2024 Guidance Highlights & Priorities
2024 Guidance Highlights & Priorities Guidance Presentation Mar/24 Fully funded development capital budget ~$146 million, representing less than half of expected 2024 Adjusted Funds Flow(1) Program is the largest in Saturn's history, to be directed to some of the most economic light oil development
Slide 5: 2024 Full Guidance
2024 Full Guidance Guidance Presentation Mar/24 Full Year Sensitivities Guidance Range 2024 AFF Effect WTI oil price 2024 average $US 75.00 Assumption Change ($ Millions) Production(2) Boe/d 26,500 – 27,500 WTI oil price (US$/bbl) $1.00 3.0 Adjusted EBITDA(1), before derivatives $MM 403 – 419 AECO g
Slide 6: 2024 Full Year Capital Summary Forecast (full cycle)
2024 Full Year Capital Summary Forecast (full cycle) Guidance Presentation Mar/24 Price Sensitivity: Realized -> $75 WTI (US) Flat 12 MONTH NOI TOTAL NOI at 10% disc. DEVELOPMENT CAPITAL 82.8 207 145.6 $MM $MM ANNUAL AVG. 2024 $MM EXIT RATE 2024YE Combined Program Economics Capital Efficiency = $20.
Slide 7: Full Year Capital - Timelines
2024 Full Year Capital - Timelines Guidance Presentation Mar/24 $145.6 MM 2024 Spend Profile Total Net Capital • ~80% of 2024 capital budget allocated to drilling and related activities aimed at bringing new Q4 barrels on stream Q1 $31.6MM $27.3MM • Senior Term Loan agreement has been amended, inclu
Slide 8: SE Sask Conventional (Mississippian / Spearfish)
2024 SE Sask Conventional (Mississippian / Spearfish) Guidance Presentation Mar/24 Combined Program Economics - $75 Flat CAPITAL ($MM) NET WELLS ROR (%) 22.1 19.5 126 IP 30 = 69 boe/d Total NOI (10% disc.) = 51.6 ($MM) Reserve Add = 1.164 mmboe 12 Month NOI = 12.7 ($MM) F&D = $18.98/boe BT Payout =
Slide 9: Bakken Stimulated
2024 Bakken Stimulated Guidance Presentation Mar/24 Combined Program Economics - $75 Flat CAPITAL ($MM) NET WELLS ROR (%) 13.8 8.1 106 IP 30 = 116 boe/d Total NOI (10% disc.) = 25.7 ($MM) Reserve Add = 0.587 mmboe 12 Month NOI = 13.9 ($MM) F&D = $23.50/boe BT Payout = 1.0 Years Fracked Bakken Type C
Slide 10: Bakken OHML
2024 Bakken OHML Guidance Presentation Mar/24 Combined Program Economics - $75 Flat CAPITAL ($MM) NET WELLS ROR (%) OHML: Open Hole 8.1 2.5 83.4 Multi-Lateral = up to 8 hz legs per well IP 30 = 243 boe/d Total NOI (10% disc.) = 14.5 ($MM) Reserve Add = 0.319 mmboe 12 Month NOI = 8.1 ($MM) F&D = $25.
Slide 11: Viking
2024 Viking Guidance Presentation Mar/24 Combined Program Economics - $75 Flat CAPITAL ($MM) NET WELLS ROR (%) Repeatable, 27.3 17.0 80.0 predictable results IP 30 = 91 boe/d Total NOI (10% disc.) = 49.7 ($MM) Reserve Add = 0.938 mmboe 12 Month NOI = 24.6 ($MM) F&D = $29.10/boe BT Payout = 1.2 Years
Slide 12: Montney
2024 Montney Guidance Presentation Mar/24 Combined Program Economics - $75 Flat CAPITAL ($MM) NET WELLS ROR (%) 14.9 4.0 53.0 IP 30 = 315 boe/d Total NOI (10% disc.) = 18.9 ($MM) Reserve Add = 0.936 mmboe 12 Month NOI = 14.0 ($MM) F&D = $15.90/boe BT Payout = 1.2 Years Kaybob Montney Type Curve 1400
Slide 13: Cardium (Brazeau / Lochend / West Pembina)
2024 Cardium (Brazeau / Lochend / West Pembina) Guidance Presentation Mar/24 Combined Program Economics - $75 Flat Brazeau Lochend CAPITAL ($MM) NET WELLS ROR (%) 36.4 8.0 49.0 IP 30 = 381 boe/d Total NOI (10% disc.) = 57.5 ($MM) Reserve Add = 2.759 mmboe 12 Month NOI = 18.8 ($MM) F&D = $13.20/boe B
Slide 14: The Saturn Advantage
The Saturn Advantage Guidance Presentation Mar/24 High Margin Assets Unlocking Overlooked Value Oil weighted with Adoption of innovative drilling low-cost structure techniques and new technology Significant AFF Generation Supportive Shareholders Strong support from Best in class FCF cornerstone inve
Slide 15: End Notes
End Notes Guidance Presentation Mar/24 1. Non-GAAP Financial Measures and Ratios Development capital expenditures Saturn uses development capital expenditures to monitor its capital investments relative to those budgeted by the Company on an annual basis. Saturn’s capital budget excludes acquisition
Slide 16: Abbreviations, Frequently Reoccurring Terms
ABREVIATIONS, FREQUENTLY REOCCURING TERMS Guidance Presentation Mar/24 BOE PRESENTATION Boe means barrel of oil equivalent. All boe conversions in this news release are derived by converting gas to oil at the ratio of six thousand cubic feet (“Mcf”) of natural gas to one barrel (“Bbl”) of oil. Boe m