Sign Up Now!
Back to Results
Note: Only one slide is currently available because you are not currently logged in.
BMO Capital Markets 8th Annual Unconventional Resource Conference
| | Page 4 of 11 |
December 07, 2016
View in Results
"BMO Capital Markets 8th Annual Unconventional Resource Conference"
View Full Document
Slides may show historical information no longer relevant. All slides to be viewed in context of the entire presentation and time. See
Company Highlights Pursue oily opportunities Monterey shale exploitation ?multi-year, lti 100illiblttil Solid Core Assets Strategy Share price: $18.94 (1/05/11) Sharesoutstanding: 557million mu lti - 100 m illi on b arre l po t en ti a l Develop large inventory in Sacramento Basin 700 locations at 20-acre spacing ?7 year inventory Shares outstanding: 55 . 7 million Market capitalization: $1.1 billion Enterprise value: $1.7 billion Production: 18,549 BOE/d (YTD 9/30/2010) YE09 Proved Reserves: 98.3 MMBOE (90.5 MMBOE Pro Forma TX Asset Sale) Use legacy, low-decline Southern California oil assets and legacy Sac Basin gas assets to fund bulk of Monterey drilling Fund shortfalls with JVs, non-core asset salescapitalmarkettransactions Sacramento Basin ?Nat. Gas Principal Fields ? Grimes (1stlargest) d Monterey sales , capital market transactions ? Willows (3r d largest) Southern California -Oil PrincipalFields Monterey Shale Prospects Portfolio Highlights Concentrated positions Shallow declines Principal Fields ? South Ellwood ? Sockeye ? West Montalvo Venoco?s statewide Oil-weighted ?reserves & revenue 97% of properties operated Large acreage position in Monterey shale and SacramentoBasin 4 Venoco, Inc.leasehold approx. 380,000 net acres Sacramento Basin 22.3% reversionary working interest in Hastings (TX) CO2flood ?Denbury initiated flood in Dec. 2010