The investor presentation issued by Magnum Hunter in September 2013. We believe this slide deck, or one very similar to this one, was used at the IPAA Oil & Gas Investment Symposium in San Francisco where MH CEO Gary Evans spoke. Slides #13-#27 are of interest to Marcellus Drilling News readers as they deal with MH's Marcellus and Utica Shale drilling operations and future plans. Some great charts, maps and pictures of operations in the Marcellus and Utica Shale!
The earnings PowerPoint slide deck used during an earnings call for NFG to highlight their fourth quarter and full year performance. NFG includes Seneca Resources (drilling subsidiary) and Empire Pipeline (midstream subsidiary).
Corporate presentation september 2016 v finalnewgold2011
- The document is a corporate presentation from New Gold that outlines cautionary statements regarding forward-looking information.
- It notes that statements in the presentation that address events, results, outcomes or developments that New Gold expects to occur are forward-looking statements which are based on certain assumptions and are subject to risks and uncertainties.
- It lists numerous risks and uncertainties that could cause actual results to differ materially from expectations, including risks related to prices, currency fluctuations, estimates, permitting, political and legal factors, and other operational risks.
1) The document is an investor presentation for the Lac des Iles Mine that provides an overview of the mine's operations and financial projections.
2) It details improvements made to the mine including a transition to more efficient sub-level cave mining, increased mill utilization, and a new long-term tailings management plan.
3) The presentation includes a new life of mine plan projecting 9.5 years of production at an average of 214,000 ounces of palladium per year, with estimated average cash costs of $428 per ounce and average all-in sustaining costs of $527 per ounce.
- Detour Gold is a Canadian gold mining company and intermediate gold producer.
- In 2016, Detour Gold expects to produce between 540,000-590,000 ounces of gold at total cash costs between $675-750 per ounce sold and all-in sustaining costs between $840-940 per ounce sold.
- In Q1 2016, Detour Gold produced 127,136 ounces of gold and sold 137,608 ounces at total cash costs of $637 per ounce sold and all-in sustaining costs of $824 per ounce sold.
Ur-Energy May 2016 Corporate PresentationBrooke Rock
This presentation provides an overview of Ur-Energy Inc., a uranium mining company with operations in Wyoming. Key points include:
1) Ur-Energy has established a reliable, low-cost uranium production center at its Lost Creek ISR facility in Wyoming and has expanded resources through exploration.
2) The company is advancing its Shirley Basin project and completing permitting to become its next uranium development.
3) Ur-Energy has a strong technical team with over 180 years of combined uranium production experience in ISR operations.
Goldman Sachs Global Metals and Mining ConferenceTeckResourcesLtd
Global Metals and Mining Conference
December 2, 2015
The document contains forward-looking statements about Teck's long-life assets, estimated profit, EBITDA, expectations for commodity supply and demand, strong financial position, and spending reductions. It warns that actual results may differ due to risks including commodity prices, economic conditions, inaccurate assumptions, and production issues. The presentation also provides an overview of Teck, its diversified portfolio, and observations on commodity market cycles.
Bmo presentation final screen 2 march 2016RoyalGold
- Royal Gold provided a presentation at the 25th Global Metals & Mining Conference in March 2016.
- In Q2 FY2016, Royal Gold achieved record revenue of $98.1 million, up 60%, and record gold equivalent ounces of 88,700, up 74%, despite lower gold prices.
- Royal Gold is focused on growing its portfolio of royalty and stream assets to maximize returns per share through increasing production from existing assets like Pueblo Viejo and development of assets like Rainy River.
Bank of America Merrill Lynch Global Metals, Mining & Steel ConferenceTeckResourcesLtd
This document discusses forward-looking information related to Teck Resources and provides an overview of Teck's business strategy, commodity market observations, and updates on Teck's operations and financial position. Key points include: Teck has a portfolio of long-life mining assets focused on stable jurisdictions; it is well positioned with exposure to strengthening metallurgical coal and zinc markets; major mines are targeted to remain cash flow positive after sustaining capital; $1 billion in cash remains to fund completion of the Fort Hills oil sands project; and Teck has a strong financial position with over $5 billion in liquidity.
- EOG Resources Inc. acquired Yates Petroleum Corporation, adding 1.6 million net acres across multiple regions for $2.5 billion.
- The acquisition significantly increases EOG's core positions in the Delaware Basin, Powder River Basin, and Northwest Shelf, providing over 1,700 additional premium drilling locations.
- The high quality acreage acquired from Yates is estimated to contain over 1.6 billion barrels of oil equivalent in net resource potential, and will enable expanded development and exploration across EOG's portfolio.
- Teck Resources reported its second quarter 2016 results, with revenues of $1.7 billion and EBITDA of $468 million. Profit attributable to shareholders was $15 million.
- The company continued to focus on cost management, lowering cost guidance for coal and copper. Production guidance was increased for coal, copper, and zinc.
- In coal, total cash unit costs decreased by $15 per tonne from Q2 2015. Copper C1 unit costs decreased by $0.15 per pound and total cash costs decreased by $0.21 per pound.
- The company maintained material movement in coal relative to production levels and lowered capitalized stripping costs due to cost reduction programs.
BMO Capital Markets Global Metals & Mining Conference 2015TeckResourcesLtd
The document contains forward-looking statements regarding Teck's projections and expectations. It notes that actual results may differ materially from projections due to risks and uncertainties in business conditions, commodity prices, exchange rates, cost assumptions, and other factors. It provides examples of sensitivities in earnings based on changes in commodity prices, exchange rates, and production volumes. The document also notes that certain forward-looking statements are based on economic analyses, partner decisions, and other assumptions that may prove to be inaccurate.
This corporate presentation by Denbury Resources provides an overview of the company's CO2 enhanced oil recovery (EOR) business. Some key points:
- Denbury focuses on CO2 EOR, owning significant CO2 reserves and over 1,100 miles of pipelines to transport CO2 for injection.
- The company's assets have substantial long-term EOR resource potential estimated at 890 million barrels recoverable.
- In response to low oil prices, Denbury is focusing on reducing costs, optimizing operations, reducing debt, and preserving cash and liquidity.
- The company has ample CO2 supply for EOR operations with no significant capital required for several years.
The document provides an overview of Antero Resources Corporation and contains forward-looking statements regarding estimates, plans, strategies, objectives, anticipated financial and operating results, and assumptions. It cautions that forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations. Specifically, it notes estimates of reserves, a drilling program, production growth, hedging activities, capital expenditures, and guidance are forward-looking statements dependent on certain assumptions. It also lists risk factors that could impact forward-looking statements from the company's annual report.
Lead fx presentation general deck as at feb 22 2016Lead_FX
The document discusses LEADFX Inc., a reporting issuer under Canadian securities laws. It provides an overview of LEADFX, including that it owns the Paroo Station lead carbonate mine in Western Australia, which has 6.8M tonnes of proven and probable mineral reserves at 7% lead. It also has an 83% ownership in the Chief Consolidated lead-silver project in Utah. The document notes that lead is expected to be in a supply/demand deficit in 2016, and that lead price forecasts for 2016 are between $1.02-$0.95 per pound. It introduces the management team, including the President and CEO, Managing Director of Australia operations, and CFO.
The document is a presentation from Teck Resources' 2015 sustainability report investors' conference call. It discusses Teck's approach to sustainability, including setting short and long-term sustainability goals. It highlights key sustainability risks around energy/climate change, water management, and communities. It also summarizes Teck's 2015 sustainability performance, including reducing energy and emissions, improving water recycling, and increasing agreements with Indigenous peoples. The presentation provides examples to illustrate Teck's sustainability strategies and performance.
The document summarizes AREX's first quarter 2016 results. It discusses:
- Drilling of 4 Wolfcamp wells on time and on budget during the quarter with no completions.
- Production of 1,165 Mboe during the quarter as no new wells were completed.
- EBITDAX of $8.7 million and cash flow from operations of $5.3 million for the quarter. Capital expenditures were $4.9 million.
- The company maintains a strong financial position and liquidity of $54 million providing flexibility for its 2016 plan.
Advanced Emissions Solutions presented at the Rodman & Renshaw 19th Annual Global Investment Conference on September 11, 2017. The presentation highlighted the company's refined coal and emissions control businesses. It noted that the refined coal business is expected to deliver $50-60 million in annual cash flows through 2021. It also stated the goal of growing emissions control revenues to $20-40 million annually over the next 1-2 years. Additionally, the presentation discussed the company's priorities in 2017, which include obtaining new tax equity investors for refined coal and growing the emissions control business.
Teck Resources held an Investor and Analyst Day on March 30, 2016 to provide forward-looking information and an overview of the company's strategy. The document discusses senior management changes and priorities for navigating the current low commodity price environment, including targeting positive cash flow from core operations and funding the Fort Hills project from internal sources in 2016. It also provides details on Teck's strong balance sheet, liquidity position, and long-dated debt maturity profile to finance spending plans.
The document provides an August 2018 update on Chesapeake Energy Corporation's business strategies and operations. It discusses plans to use proceeds from an asset sale to reduce debt, goals of achieving a net debt to EBITDA ratio of 2x and free cash flow neutrality. Production from the Powder River Basin is growing rapidly and is expected to increase 90% in 2018 and 100% in 2019, driven largely by oil growth from the Turner area where 18 wells are currently producing. Drilling and completion costs in the Turner area have improved. The company has a diverse portfolio across five basins with an inventory of potential locations.
Rex Energy Corporate Presentation May 2013 - Including Upper Devonian DetailsMarcellus Drilling News
Rex Energy's May 2013 Corporate Presentation for investors. Slides 16 & 28 show details about Rex's Upper Devonian drilling activities. The Upper Devonian is a relatively new phenomenon in the northeast. The UD layer sits a few hundred feet above the Marcellus Shale layer and drillers are adopting a stacked play strategy of drilling the UD, Marcellus and Utica Shale--all in the same well bore.
The document provides an update on Chesapeake Energy's business strategies and operations for September 2018. It discusses restoring the company's balance sheet through applying $1.9 billion in proceeds from an asset sale to debt reduction. It highlights the company's diverse portfolio across five basins and focuses on growth in the Powder River Basin, where production is ramping ahead of schedule led by the Turner opportunity. The company is improving drilling efficiencies to enhance returns in the Powder River Basin.
This document provides an overview of Guyana Goldfields Inc., a gold mining company operating in Guyana, South America. Key points include:
- Guyana Goldfields has over 16 years of gold reserve life at its high-grade Aurora gold mine in Guyana and expects production growth of 15% annually through 2022.
- The company has a large land package in an underexplored greenstone belt and exploration potential exists to expand resources down-dip and along strike.
- Operationally, the company is on track to complete a phase 2 mill expansion in Q4 2018 which will increase throughput. The open pit contractor has also mobilized to site.
- Financially, Guy
This document provides an overview of Guyana Goldfields Inc., including:
- Guidance for 2018 gold production of 175,000-185,000 ounces at a cash cost of $535-585/oz and AISC of $945-995/oz.
- Exploration targets around the Aurora mine aimed at discovering a second mine, including positive early drilling results at East Walcott.
- An expanded land package of over 1,200 square km in an historically gold-rich region of Guyana with potential for additional discoveries.
- A phased expansion of the processing plant expected to increase throughput and recoveries through 2018.
The document provides an overview of Chesapeake Energy's Utica Shale divestiture and an update on its Powder River Basin operations. Key points include:
- Chesapeake sold its Utica Shale assets for $2 billion in net proceeds, reducing its debt and focusing on its highest return Powder River Basin assets.
- The sale included over 300,000 net acres and 107,000 boe/d of net production in Ohio's Utica Shale, transferring future midstream commitments.
- In the Powder River Basin, production is growing rapidly through development in the Turner area, with over 90% oil growth year-to-date and 100% expected growth in
August 2016 corporate_presentation_final Eclipse resourcesSteve Wittrig
Eclipse Resources is an oil and gas company focused on developing its 115,000 net acres in the core of the Utica Shale and 13,000 net acres in the Marcellus Shale. The presentation highlights Eclipse's strong operational performance, including increasing lateral lengths by 200% while decreasing drilling costs by 50% per foot. Eclipse plans to resume drilling activities in mid-2016 and grow production over 30% year-over-year in 2017 through completing DUCs and operating a one-rig program. The company also discusses its super-lateral drilling program aimed to significantly improve well returns through extending lateral lengths.
- The document reports on Teck Resources' fourth quarter 2016 results, including record quarterly revenue, gross profit before depreciation and amortization, and profit attributable to shareholders.
- It provides guidance for 2017 that forecasts higher production levels across key commodities compared to 2016 while maintaining lower unit costs, and capital expenditures of $2 billion.
- Key projects like Fort Hills and Quebrada Blanca Phase 2 are progressing on schedule and expected to further grow production and strengthen Teck's portfolio in the coming years.
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- The document is a presentation from Aurico Gold about their mining operations and growth plans.
- It discusses two of Aurico's core assets, the Young-Davidson and El Chanate gold mines, and outlines plans for continued production growth at both sites over the next few years.
- The presentation highlights Aurico's strong financial position and shareholder return strategy, noting over $300 million returned to shareholders already through dividends and share buybacks.
This document summarizes a presentation from Guyana Goldfields Inc. about its Aurora Gold Mine. It states that production is expected to grow from 160koz in 2017 to over 300koz by 2022. The mine has over 16 years of reserve life and simple metallurgy. An optimized life of mine plan shows increased annual production to 270koz between 2018-2022 compared to the previous plan. This would generate over $500M in expected free cash flow at a gold price of $1,300/oz. The company has a large land package with potential for open pit targets near its mill.
Scotiabank Mining Conference - December 4, 2013AuRico Gold
The document is a presentation by Aurico Gold Inc. for a mining conference. The summary is:
1) Aurico Gold owns two core mining assets - the Young-Davidson gold mine in Canada and the El Chanate gold mine in Mexico. Both mines are expected to deliver production growth over the next few years.
2) Aurico Gold also owns the Kemess Underground copper-gold project in Canada which has the potential to generate significant value as permitting is ongoing.
3) The company has a robust financial position with $290 million in liquidity and expects decreasing capital expenditures and growing free cash flow over the next few years as production increases from its core assets.
Guyana Goldfields August 2017 IR Presentationguygold2016
This document discusses Guyana Goldfields Inc., a gold mining company. It contains forward-looking statements about drilling activities, reserve and resource estimates, and actual results that may differ. Key risks include commodity price fluctuations, financing risks, and uncertainties around resource estimates. The company has a high grade gold mine in Guyana with over 15 years of reserves remaining and potential for district-scale exploration. Production is expected to grow 20% in 2018 through a mill expansion. Guidance for 2017 is 160,000-180,000 ounces of gold production with lower costs expected in the second half of the year as mining shifts to higher grade areas.
The document provides an overview of a modelling workshop held on April 2, 2020. It begins with cautionary language regarding forward-looking statements in the presentation. The agenda then outlines the various topics to be covered, including base metals pricing and concentrate contracts, base metals operations, steelmaking coal operations, energy, corporate financial statements, and income and resource taxes. Descriptions of the topics note that they will include discussions of pricing, costs, operations, and financial impacts.
The company will hold an investor conference call to discuss the fourth quarter 2018 earnings results at 11:00 a.m. Eastern time / 8:00 a.m. Pacific time on Wednesday, February 13, 2019. The conference call dial-in is 647.484.0475 or toll free 888.394.8218, no pass code required. Participants will be asked to provide the Operator with the confirmation code 6235586 when dialling in. Media are invited to attend on a listen-only basis.
This document provides an overview of Guyana Goldfields Inc., a gold mining company with operations in Guyana. Some key points:
- Guyana Goldfields operates the high-grade Aurora gold mine in Guyana, which has over 16 years of reserve life and exploration potential across its 200,000-acre land package.
- In 2018, production guidance was revised down to 150,000-155,000 ounces due to lower than expected head grades, and the company has engaged an independent firm to review the resource model.
- The company has a strong balance sheet with $93 million in cash and $45 million in debt as of September 2018.
- Management changes and a mill expansion are expected
- Teck Resources reported solid first quarter 2019 results with revenue of $3.1 billion, in line with Q1 2018. Gross profit was $1 billion and EBITDA was $1.4 billion.
- The company closed a $1.2 billion partnership transaction with Sumitomo Metal Mining Co. and Sumitomo Corporation for their stake in the Quebrada Blanca Phase 2 copper project.
- Production guidance for 2019 remained unchanged for steelmaking coal, copper, zinc, and bitumen. The company has a strong financial position with $8.7 billion in liquidity and an investment grade credit rating.
Guyana Goldfields Inc. is a gold mining company with operations in Guyana. It owns the operating Aurora gold mine as well as exploration licenses covering over 200,000 acres of land in Guyana's prospective greenstone belts. The presentation discusses Guyana Goldfields' operating and financial results, expansion plans to increase mill throughput, exploration targets within trucking distance of the Aurora mill, and regional exploration targets further afield. It also provides an overview of the company's share structure and balance sheet.
Aurico Gold provides a presentation on its mining assets and growth plans. It has two core mining assets - the Young-Davidson gold mine in Canada and the El Chanate gold mine in Mexico. Both mines have seen consistent production growth quarter-over-quarter and year-over-year. Aurico also has a large undeveloped copper/gold project called Kemess Underground in Canada. The company aims to continue organic production growth while maintaining low costs and strong financial positioning.
BMO Capital Markets 25th Annual Global Metals & Mining ConferenceTeckResourcesLtd
This document contains forward-looking statements about Teck Resources regarding its long-life assets, estimated profit, EBITDA, expectations for commodity markets, goals to maintain core business cash flow neutral, expected cash balance at year-end, and capital expenditure guidance. It notes the risks and uncertainties inherent in forward-looking statements around commodities, exchange rates, costs, and other factors.
This presentation contains forward-looking statements regarding the company's strategies, operations, development plans, production estimates, costs, reserves, hedging programs, and other factors. These statements are subject to risks and uncertainties outside the company's control. The company bases its forward-looking statements on current expectations and analyses but actual results may differ materially from expectations. All forward-looking statements are qualified by these risk factors. Estimates of unproved reserves referred to as "EUR" are prohibited in SEC filings due to greater risk of not being realized. For proved reserves calculated under SEC rules, see the company's 10-K filing.
Similar to Magnum Hunter Resources Investor Presentation Sept 2013 (20)
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)
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.
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.
Debates In Constituent Assembly: Seven Key Debates in India Constituent AssemblyGurjant Singh
The Constituent Assembly of India, formed in 1946, was responsible for drafting the Indian Constitution, and its debates were crucial in shaping the nation's democratic framework. Key debates in the Assembly covered a wide range of issues, including the structure of government, fundamental rights, and the balance of power between the central and state governments. Prominent discussions included the adoption of universal adult suffrage, the nature of the federal system, and the protection of minority rights. The Assembly also debated the incorporation of socio-economic rights, the language policy, and the role of the judiciary. These debates, led by visionary leaders like Dr. B.R. Ambedkar, Jawaharlal Nehru, and Sardar Patel, were instrumental in forging a Constitution that aimed to uphold justice, liberty, equality, and fraternity for all citizens.
Muslim can never become a majority in IndiaAjay Prakash
Many say that India will become a Muslim majority country in 50 years if Muslim population growth is not controlled. Nothing can be farther than truth. I present data to show that this statement is just rubbish.
Storm surge expected along the coastline of South Africa:SABC News
An intense cold front/mid-latitude cyclone is forecasted to bring a significant drop in atmospheric
pressure and strong winds, leading to high waves and storm surge along the west and south-east coastline
of South Africa
Recent Changes in Foreign Relations between Nepal and Chinaarora90avinash
The intricacies between China and Nepal relations have been historical. Both nations come to the fore when talking about border disputes. Recently, the political scenario has seen a shift with China’s advancement in bolstering Nepal’s circumstances. China endeavored to nurture unity and open a myriad of routes to assist Nepal at every front. Currently, it is assisting in the following ways:
Restoring Sussex's Kelp Forests A Tale of Recovery and Hope.pptxbetterworlds2012
The Sussex Inshore Fisheries and Conservation Authority is one of ten IFCAs around the coast of England which manage sea fisheries resources and the marine environment from mean high water out to six nautical miles. We have powers under the Marine and Coastal Access Act 2009 to write and enforce our own byelaws in our own districts to manage the exploitation of sea fisheries resources, including within Marine Conservation Zones. We came into force in April 2011, replacing our predecessors the Sea Fisheries Committees.
वोट देने की अपनी आज़ादी का इस्तेमाल करने के लिए जाते ही अंजुमा को संदिग्ध विदेशी घोषित कर दिया गया, जिसके बाद उन्हें अपनी नागरिकता वापस पाने के लिए कई सालों तक संघर्ष करना पड़ा। अब आखिरकार, कई सालों के संघर्ष के बाद, CJP ने अंजुमा को उनकी खोई हुई नागरिकता वापस पाने में मदद की है।
Sources of Indian Constitution: "Bag of Borrowings"Gurjant Singh
The Indian Constitution is often referred to as a "Bag of Borrowings" because it draws from a wide array of sources and global practices to form its comprehensive framework. This eclectic approach enabled the framers to incorporate the best elements suited to India's unique socio-political context. Major influences include the Government of India Act, 1935, which provided the basic administrative structure; the British Constitution, which inspired the parliamentary system and rule of law; the U.S. Constitution, from which the concepts of fundamental rights and judicial review were adopted; the Irish Constitution, which influenced the Directive Principles of State Policy; and the Canadian Constitution, which shaped the federal structure with a strong central authority. Additionally, aspects like emergency provisions were inspired by the Weimar Constitution of Germany, and the idea of a concurrent list came from the Australian Constitution. This diverse borrowing has endowed the Indian Constitution with a balanced blend of flexibility and rigidity, ensuring it addresses the aspirations and needs of its people effectively.
28 जून को मुंबई के माहिम स्थित सेंट माइकल चर्च में 1 जुलाई से लागू हुए तीन आपराधिक कानूनों पर चर्चा का आयोजन किया गया। तीन नए आपराधिक कानून ‘भारतीय नागरिक सुरक्षा संहिता (बीएनएसएस) अधिनियम 2023’, ‘भारतीय न्याय संहिता (बीएनएस) अधिनियम 2023’ और ‘भारतीय साक्ष्य अधिनियम (बीएसए) अधिनियम 2023’ ने भारतीय दंड संहिता, 1860, दंड प्रक्रिया संहिता और भारतीय साक्ष्य अधिनियम की जगह ली है।
INGRADINATS OF A SUCCESSFUL POLICY - Copy (1).docxJIT KUMAR GUPTA
Policies and planning form integral part of governance of any nation, state and community. Every state, region and city must have an overarching policy dedicated to promoting universal good, prosperity, equity and quality of life of both existing and future population going to live in the given geographical area. Policies are the outcome of the vision and approach adopted/stated/declared by the group governing any geographical entity. In the political system, it is invariably the ruling party , which remains, primarily and essentially, involved in formulation and implementation of policies. In a democratic system of governance, policy formulation falls in the domain of party elected/voted to power through the process of election. In the other systems , it is the entity/people who exercise power and authority, by virtue of the system put in place for governing the state/nation. In majority of cases, basic agenda , aim and objective of any policy framed by the governance structure, is to ensure that ruling entity remains perpetually in power. Against this objective, all policies put in place focus on empowering people in power and intend to make ordinary citizens happy and supportive of the policies put in place.Majority of nations and communities are suffering from the malaise of irrational policies formulation at the state and the local level, which are embedded with distortions.Many communities , nations and states also suffer from policy paralysis.Policy formulation must define, intent, contents, scope, specify goals and objectives to be achieved; communities to be addressed; process of implementation, time-frame for implementation and expected outcome; for evaluation etc. Wrong policies are known to damage the basic fabric of the society whereas policies addressing universal good framed in a transparent manner are known to elevate the nations and communities.
टीआईएसएस से 100 से अधिक शैक्षणिक और गैर-शैक्षणिक कर्मचारियों की बर्खास्तगी के बाद, पूर्व छात्रों ने एक खुला पत्र लिखकर संस्थान की कार्रवाई, विशेष रूप से महिला अध्ययन केंद्र की फैकल्टी के साथ अन्यायपूर्ण व्यवहार की निंदा की है।
The Mystery of David Muir’s Marital Status_ A Deep Dive into the Elusive Love...Phil Heath
David Muir, the renowned World News Tonight anchor and esteemed journalist, has captivated audiences with his compelling reporting and charismatic presence. But amidst his soaring career and public life, one question remains shrouded in mystery: is David Muir married? As we delve into the intricacies of his private life, a complex tapestry of rumors, speculations, and subtle hints emerges, leaving the public curious and intrigued.
The Mystery of David Muir’s Marital Status_ A Deep Dive into the Elusive Love...Phil Heath
David Muir, the renowned World News Tonight anchor and esteemed journalist, has captivated audiences with his compelling reporting and charismatic presence. But amidst his soaring career and public life, one question remains shrouded in mystery: is David Muir married? As we delve into the intricacies of his private life, a complex tapestry of rumors, speculations, and subtle hints emerges, leaving the public curious and intrigued.
2. Forward-Looking Statements
1
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, Canada 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 2012 annual report on Form 10-K, as amended, filed with the Securities and Exchange Commission, which we refer to as the SEC. 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 U.S. Securities and Exchange Commission, which we refer to as 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. In this presentation, we disclose certain “possible reserves” (as
defined by SEC regulations) and “contingent resources,” both of which represent the Company’s internal estimates of volumes of oil and natural gas that are not classified as proved
reserves but are potentially recoverable through exploratory drilling or additional drilling or recovery techniques. 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 unproved resources are by their nature more speculative than estimates of proved reserves and accordingly are subject to
substantially greater risk of actually being realized by the Company. We believe our estimates of unproved resources and future drill sites are reasonable, but such estimates have not
been reviewed by independent engineers. Estimates of unproved resources may change significantly as development provides additional data, and actual quantities that are ultimately
recovered may differ substantially from prior estimates.
3. Magnum Hunter Resources is an exploration and production company focused in three of the most
prolific unconventional shale resource plays in North America, namely the Marcellus, Utica and
Williston/Bakken Shale
Current management team assumed leadership of the Company in May 2009 and has decades of
combined energy industry experience
Diversified asset base provides the Company with the flexibility to allocate capital to the highest growth
properties within the portfolio
Achieved “Shale Scale” with significant acreage positions in the Bakken, Marcellus and Utica Plays that
total ~350,000 net acres
Significant insider ownership aligns shareholder and management interests
Who We Are
2
Market Capitalization ~$1,050 MM
Enterprise Value ~$2,050 MM
Current Production (est.) 16.5 MBoepd
Proved Reserves(1) 57.8 MMBoe
3P Reserves(1) 119.3 MMBoe
Contingent Resources(2) 728.9 MMBoe
Key Metrics
(1) 3P Reserves as of June 30, 2013
(2) The contingent resource estimate is an internal estimate prepared by Magnum Hunter that includes the Company’s Utica Shale potential on its vast lease acreage holdings
4. 3
Where We Operate
~175,000 Net Acres
~7,000 Net Acres
~300,000 Net Southern
Appalachia Acres
~81,000 Net
Marcellus Acres
~80,000 Net Utica
Acres
Mid-Year 2013 Proved Reserves
% Oil/ Gross Drilling
(MMBoe) % PDP Liquids Locations(1)
Appalachia 37.8 65.5% 17.6% 1,252
Williston Basin 19.5 54.2% 95.2% 1,752
South Texas/Other 0.5 19.6% 51.6% 2
Total 57.8 61.3% 50.5% 3,006
A well-balanced and concentrated asset base in large shale plays
Secure footholds in West Virginia, Ohio, Kentucky, and North Dakota
(1) Represents total potential drilling locations reflecting current acreage position and reserve report as of June 30, 2013
5. 5,270
9,124
12,624
12,984
14,145 14,587
16,889
17,814
23,000 - 25,000
Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 2013 Target Exit
Rate
Oil / Liquids Natural Gas
Production Growth
4
(1) Includes estimated shut-in and curtailed production volumes; actual reported third quarter 2012 production was 12,480 barrels of oil equivalent per day
(2) Includes estimated shut-in and curtailed production volumes; actual reported first quarter 2013 production was 13,769 barrels of oil equivalent per day
(3) Includes, on a pro forma basis, 816 Boe/d of actual production from Eagle Ford Hunter, Inc. operations sold in April 2013, and estimated shut-in production volumes of 1,873 BOEPD
(1)
2012 production increased 139% to 13,152 Boepd compared to 5,510 Boepd in 2011
Year-end 2013 exit rate guidance reaffirmed at 23,000 – 25,000 Boepd
(2) (3)
6. 0.08
0.16
0.21
0.40
0.47
2008 2009 2010 2011 2012
3.1
6.2
13.4
44.9
73.1
2008 2009 2010 2011 2012
Proved Reserve Growth Consistency
5
Track record of proved reserve growth since inception
• Approximately 57.8 MMBoe of proved reserves and 119.3 MMBoe of 3P reserves at June 30, 2013
(50.5% oil/liquids)
• Anticipate continuing to consistently add proven reserves with an equal mix of oil/liquids and
natural gas
Proved Reserves (MMBoe)(1) Annual Proved Reserves (Boe) / Share(2)
Note: No proved reserves have been booked in the Utica Shale as of June 30, 2013
(1) Pro forma for the Eagle Ford sale, total proved reserves as of December 31, 2012 were 61.6 MMBoe
(2) Calculation based on weighted average of common shares outstanding on annual basis
7. Proved Reserves Summary
6
Proved Reserves Summary
Proved Reserve Allocation Proved Reserves by Region
Net Proved Reserves as of Mid-Year 2013 (SEC PRICING)
Category
Liquids
(MMBbls)
Gas
(Bcf)
Total
(MMBoe) %
PDP 16.8 111.6 35.4 61.3%
PDNP 0.6 3.8 1.2 2.1%
PUD 11.8 56.4 21.2 36.6%
Total Proved Reserves 29.2 171.8 57.8 100.0%
Note: No proved reserves have been booked yet in the Utica Shale and minimal reserves have been booked in the Middle Bakken
Other
1%
Williston
Basin
34%
Appalachia
65%
Oil /
Liquids,
50.5%
Gas,
49.5%
10. 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 40,110 Gross Acres and 34,649 Net Acres overlap in our Utica Shale and Marcellus Shale
(4) Pertains to certain miscellaneous properties in Texas and Louisiana
As of May 1, 2013
Developed
Acreage (1)
Undeveloped
Acreage (2) Total Acreage
Gross Net Gross Net Gross Net
Appalachian Basin (3)
Marcellus Shale 63,198 62,490 24,978 18,511 88,176 81,001
Utica Shale 62,670 59,469 25,835 20,061 88,505 79,530
Huron/Weir 119,271 100,860 240,686 204,060 359,957 304,920
Other 24,952 24,952 123 13 25,075 24,965
Total 270,091 247,771 291,622 242,645 561,713 490,416
South Texas
Eagle Ford Shale 1,248 766 11,394 6,034 12,642 6,799
Other(4) 1,504 795 - - 1,504 795
Total 2,752 1,561 11,394 6,034 14,146 7,595
Williston Basin - USA
North Dakota 150,517 49,477 169,039 75,388 319,556 124,865
Madison Waterflood 17,500 15,000 - - 17,500 15,000
Total 168,017 64,477 169,039 75,388 337,056 139,865
Williston Basin - Canada
Bakken / Three Forks / Sanish - Tableland, SK 12,840 11,296 42,665 42,166 55,505 53,462
Alberta 24,790 19,689 20,640 16,499 45,430 36,188
Total 37,630 30,985 63,305 58,665 100,935 89,650
MHR TOTAL 478,490 344,794 535,360 382,732 1,013,850 727,526
11. Future Growth and Profitability Drivers
10
To achieve consistent growth, we are committed to the following:
Focus on developing and growing core assets in areas with the highest
rate of return using our proven development expertise
Maintain a conservative balance sheet with significant liquidity to
provide operational flexibility
Target up to $250 million of additional non-core asset sales allowing
us to reallocate resources to higher growth properties, increase
proved reserves and further reduce debt
Decision to monetize midstream asset in 2013 – 2014 for $750+
million (gross)
Maintain an active commodity hedging program to support economic
returns and ensure strong coverage metrics
12. 2013 Accomplishments to Date
11
Our long-term strategic growth plan is reflected in recent events:
January – June: New wells drilled:
• Marcellus – 13 Gross (7.5 Net)
• North Dakota – 33 Gross (8.7 Net)
• Saskatchewan – 1 Gross (.9 Net)
April: Eureka Hunter began redelivering natural gas to the Mobley Processing Plant
following the completion of the pigging operation due to high liquids content
April: Completed sale of the Eagle Ford Division for $401 million to Penn Virginia
Corporation
April: Spud our first Utica Shale well on the Farley Pad (10 well pad)
• September: Well cased and frac currently ongoing
June: Filed Form 10-K on June 14, 2013 in advance of the 60 day deadline
July: Spud our second Marcellus/Utica Pad with new robotic drilling rig
• September: Second Utica well currently drilling
July: Filed Form 10-Q for first quarter 2013 and became current on all SEC filings
August: Filed Form 10-Q for second quarter 2013
14. Appalachian Division Overview
Proved Reserves
• Total proved reserves of 37.8 MMBoe
as of 6/30/13
• Proved producing reserves of 24.8
MMBoe as of 6/30/13
Acreage Position
• ~490,000 net acres in the Appalachian
Basin
– 81,000 net acres located in the
Marcellus Shale
– 80,000 net acres prospective for
the Utica Shale
13
Overview Areas of Operation
Marcellus Shale Overview
• 27 wells have been drilled and placed on production
to-date with 2 (2 net) waiting on sales
– 10 wells in Tyler County, WV
– 16 wells in Wetzel County, WV
– 1 well in Monroe County, OH
• Current Completion Operations
– 12 (8 net) wells drilled, awaiting completion
• Current Drilling Operations
– 3 (1.7 net) wells drilling
MHR areas of
operations
15. Marcellus Operations
14
Marcellus Well ResultsMarcellus Well Results
Note: Well data does not include Natural Gas Liquids
Stone Operated MHR Operated
3,044 3,225
3,787 3,560
10,000
10,500 10,400
9,700 9,700 9,600 9,500
8,340
9,471
7,998
9,563
2,847 2,943
4,198
3,384
5,800
7,078
5,618
5,040
6,542 6,337 6,361
4,716
5,614
5,274 5,329
14 14 15 16 16 16 16 16
18
16
18
16 17
27
19
Mills
Wetzel
#4H
Mills
Wetzel
#5H
Mills
Wetzel
#6H
Mills
Wetzel
#7H
WVDNR
#1102
WVDNR
#1103
WVDNR
#1104
Roger
Weese
#1110
Everett
Weese
#1107
Everett
Weese
#1108
Everett
Weese
#1109
Spencer
Unit
#1115
Spencer
Unit
#1112
Spencer
Unit
#1113
Spencer
Unit
#1114
IP 24-hr avg. rate (Mcfe/d) IP 30-day avg. rate (Mcfe/d) Frac Stages (#)
16. NGL Uplift in Appalachia
15
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 $0.75 - $1.25
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+)
$0.75 - $1.25
+ $3.50 - $4.00
$4.25 - $5.25
Per Wellhead Mcf (1)
17. $0
$2
$4
$6
$8
$10
$12
$14
$2.00 $2.50 $3.00 $3.50 $4.00 $4.50 $5.00
Economic Sensitivity of Marcellus
16
CAPEX: $6.5 million per well
EUR: 7.8 Bcfe (includes natural gas liquids)
IRR: 47%
IRR: 57%
IRR: 67%
IRR: 77%
IRR: 87%
IRR: 98%
IRR: 108%
Realized Natural Gas Price, $/MMBtu
Note: Assumes realized oil price of $90.00/Bbl and realized NGL price of $47.70/Bbl (53% of realized oil price)
(1) Reflects NYMEX natural gas (Henry Hub) spot pricing as of 9/16/2013
SingleWellNPV-10($MM)
$3.74/MMBtu(1)
19. Utica Shale Overview
18
The Utica Shale extends approximately 170,000 square miles throughout the
Appalachia Basin in the United States and Canada
• Ordovician-aged organic rich black shale with interbedded limestone with
target intervals ~150 feet thick at depths between 7,500 feet and 9,500 feet
• Similar to the Eagle Ford Shale with three distinct windows: oil, wet
gas/condensate, and dry gas with the majority of the activity focused on the
wet gas and condensate window
The “Sweet Spot” for liquids-rich gas occurs in eastern Ohio along a narrow band
which generally follows geologic structure
• Optimum thermal history
• Depth, pressure and hydrocarbon composition result in excellent recoveries
Total Organic Carbon (“TOC”) is a measure of organic content and is indicative of
the quantity of kerogen in the rock, which is the source material for oil and gas
• TOC is derived from core analysis; however, it can also be inferred from open
hole log resistivity measurements where sufficient data exists for a good
correlation
• There is a general correlation between higher gross interval thickness and
larger TOC values
• East of the Ohio River, the Utica/Point Pleasant is sufficiently deep for the
formations to produce dry gas; these areas of high TOC also correspond to high
Ro values
Acreage owned by the Company exhibits good thickness and is highly prospective
with a large portion of the acreage in the wet gas and condensate window
Isopach Map of Utica/Point Pleasant
Total Organic Carbon
20. Utica Acreage Acquisition
19
On August 12, 2013, Triad Hunter, LLC, a wholly-owned subsidiary of Magnum Hunter
Resources Corporation, entered into an Asset Purchase Agreement (“Purchase Agreement”)
with MNW Energy, LLC (“MNW”)
Triad has agreed to acquire from MNW up to 32,000 net mineral acres in Monroe, Noble and
Washington Counties, Ohio
MNW will transfer portions of the acreage to Triad over a ten month period subject to title
review
• MNW is obligated to cure any defects in the title or MNW will be required to offer Triad
replacement acreage pursuant to the terms of the Purchase Agreement
The acreage is expected to be acquired in multiple tranches, with a closing to occur each time
Triad has reviewed and approved title to a least $15 million of acreage
Triad will acquire the acreage for approximately $4,400 per net mineral acre
• Subject to price reduction to approximately $3,300 if the underlying lease contains a
defect that reduces the value of the lease
The maximum purchase price for the 32,000 net mineral acres, with acceptable title and lease
terms, is approximately $142 million
21. Potentially Best Shale Play in US
20
Ohio / West Va. / Penn. Wyoming/Colorado Texas N. Dakota
Utica Shale /
Point Pleasant DJ Basin Niobrara Eagle Ford Bakken
Lithology Calcareous Shale Chalk/marl Calcareous Shale Silty Dolomite
Lithology Descriptor
Shale with carbonate
stringers Like Limestone Like Limestone More Dolomitic
Storage Capacity
Formation Thickness 150-300' 150-300' 75-300' <150'
Porosity 3-10% 6-10% 4-15% 8-12%
Water Saturation (Sw) 10-25% 35-90% 15-45% 15-25%
OOIP per section (MMBOE) 20-30 30+ 30-50 10-15
Productive Capacity
Clay Content ~10-20% 10-40% 8-11% 5-10%
Total Organic Carbon (TOC) 2%-4% 2-6% 5% 9%
Ability to Fracture Stimulate na
Brittleness varies,
250' frac length
Brittle, fracs easy, 500'
frac length
Brittle, fracs easy,
500+' frac length
Permeability < 0.1 mD < 0.1 mD < 0.1 mD < 0.1 mD
Reservoir Pressure (psi/ft) ~0.5-0.8 0.4-0.6 0.5-0.8 0.5-0.7
Gas-Oil-Ratio (GOR) ~3,000 0-10,000+ 500-2,000 500-1,000
Development Parameters
Depth 7,000'-11,000' 6,000-8,000' 6,000-8,000' 7,000-11,000'
Well Cost ($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
Parameter
Shale Play Comparison Chart
22. Lithology
21
The Point Pleasant Formation is actually a series of very
thin, high-permeability carbonate stringers encased in
organic-rich source rock
Large gross interval provides huge amount of
hydrocarbon source rock; stringers provide conduit to
flow
This unique lithology combined with over-pressured
“shales” helps explain the very high flow rates exhibited
by recent completions
State of the art fracturing technology creates enormous
“stimulated rock volume” which unlocks the
hydrocarbon trapped within the “shale” matrix
Relatively low water saturation offers additional
advantages
• Large OGIP per acre-foot
• Reservoir does not appear to be water-sensitive
• Large frac water volumes are absorbed into the
matrix; shut-in time appears to facilitate water-
assisted oil and gas recovery
Point Pleasant Core Photomicrograph
23. First Utica Pad “Farley”
22
First Utica horizontal well in Washington County spud April 10, 2013
• Farley Pad is designed to handle 4 horizontal wells
• Pilot Well has reached TD vertically at ~8,164 feet, logged and cored
• Lateral section has been drilled, cased and cemented
• The useful horizontal section is ~6,500 feet with frac currently ongoing
24. Farley Pad Drilling Locations
23
WashingtonCounty
NobleCounty
0 2000’ 4000’
Magnum Hunter Acreage
MHR - Farley Pad
Ten Planned Laterals
25. Stalder Pad Drilling Locations
24
MHR - Stalder Pad
Eighteen Planned Laterals
0 200
0’
Magnum Hunter Acreage
Marcellus Horizontal Well
Utica Horizontal Well
Magnum Hunter/Eclipse JV Acreage
26. Alpha Hunter T500XD Rig
25
On May 7, 2013 Alpha Hunter took possession of a new state of the art robotic drilling rig
• Will be used to drill 16 - 18 wells on the Stalder Pad over the next 18 months
• First well spud July 1, 2013
27. Utica Shale – Recent Well Results
26Note: MHR currently owns approximately 80,000 net acres in the Utica Shale; following the MNW acquisition, MHR’s acreage position will be in excess of 110,000 net acres.
29. Williston Basin Overview
28
OverviewAreas of Operation
Proved Reserves
• Total proved reserves of 19.5 MMBoe as
of 6/30/13
• Proved producing reserves of 10.6
MMBoe as of 6/30/13
Acreage
• ~175,000 net acres in the Williston Basin
– ~125,000 net acres in North
Dakota, with ~ 90,000 net acres in
Divide County
– ~53,000 net acres in Tableland
Drilling Opportunities
• Drilling locations target the Middle
Bakken/Three Forks Sanish
2 – 3 Drilling Rigs Active
• Our operated rig is currently drilling in
Divide County, North Dakota
6,000 – 6,500 Boe/d of Current Production
• 5,000 - 5,500 Boe/d in North Dakota
• 1,000 Boe/d in Canada
30. Ambrose/Divide County 2013 Activity
29
OverviewAreas of Operation
2013 Ambrose Field Drilling Program
• 30 gross, 10 net wells
• Targeting Three Forks Sanish and
Middle Bakken
Prolific Two-mile Lateral Wells
• IP 24-hour rates up to 1,200 Boepd
• IP 30-day rates - 500 – 800 Boepd
Reserve Growth Compounding
• EUR 400 – 700 Mboe
• ~500 gross locations in Ambrose
sweet spot
IRR Increasing Significantly
• Low-cost eco-pad drilling reduces per
well capital costs
• Finding costs forecast range $10 -
$17/Bbl MBOE
• ONEOK gas gathering generates
reserve bookings, cash flow and
production
35. Eureka Hunter Midstream Overview
34
Assets and Business
Strategy
Strategically Positioned Assets
In the heart of “Wet Marcellus” - WV and Utica of eastern Ohio
~90 miles of primarily 20” – 1135 MAOP gathering system currently in the ground
350+ MMcf per day current design capacity with unlimited expansion possibilities
Highly Visible Business Model
Stable cash flow through reservation/commodity fee structure
Long-term contracts – 10 year minimum
Large area reserve potential for continued pipeline expansion and long-life throughput
Preparing for monetization
Operational and Growth
Trajectory
Building pipeline more efficiently than competition
New processing plants to realize NGL uplift to wellhead gas price
Building pipe into Utica of eastern Ohio – Wet Marcellus / Dry Utica stacked region
Financial Developments
Completed partial monetization of Eureka Hunter
• ArcLight Capital Partners, a leading energy-focused investment firm, agreed to invest up
to $200 million in the form of convertible preferred units in Eureka Hunter (1)
• ArcLight currently owns ~40% of Eureka Hunter
Completed acquisition of TransTex, a leading private gas treating company with a
significant Eagle Ford presence and the potential for Marcellus / Utica expansion (2)
(1) Initial investment of $106.8 million; ~$60 million to MHR, and the remaining $46.8 million to fund the cash portion of the TransTex acquisition.
(2) TransTex acquisition was completed for $58.5 million. $46.8 million cash portion was funded via the ArcLight Capital Partners investment.
36. Eureka Hunter Pipeline
35
Three pipe solution at Carbide Challenging West Virginia Terrain
(McCormick & Evans)
Ohio River Bore into Ohio
37. Historical Gathering Volumes
36
Eureka Hunter Pipeline 2012 Avg. Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13
High Pressure Reservation Volume (MMBtu/d)
Magnum Hunter 40,000 87,950 87,950 87,950 91,117 92,950 92,950
Third-Parties 6,667 35,000 35,000 35,000 47,000 47,000 47,000
Total 46,667 122,950 122,950 122,950 138,117 139,950 139,950
High Pressure Throughput Volume (MMBtu/d)
Magnum Hunter 23,291 16,055 20,137 29,448 27,876 49,201 59,461
Third-Parties - 23,688 29,194 35,167 35,180 37,161 38,691
Total 23,291 39,743 49,331 64,615 63,056 86,362 98,152
Current throughput is in excess of 125,000 mmbtu/d (45% third-party)
Year-end 2013 throughput target of 200,000 mmbtu/d (55% third-party)
38. Eureka Hunter Area Map
37
Eureka Pipeline – Constructed/In process
Eureka Pipeline – Proposed
Eureka Pipeline – Beverly Bell System
Markwest Processing Facility
DTI/Blue Racer Processing Facility
EQT Pipelines
TCO Pipelines
Texas Eastern Pipelines
Rockies Express Pipeline
39. TransTex Hunter, LLC (“TransTex”) founded in 2006; acquired by Eureka Hunter in April 2012
Provides gas treating services for natural gas producers
Assets for gas treating, processing, dehydration, and separation equipment
Significant market position in treating plants 60 GPM and smaller
38 units currently on location and in operation with 19 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 90% of revenue from operating lease agreements; 24 - 36 months
YTD recurring revenues have increased 35% primarily due to increased utilization of
TransTex’s core assets
Majority of plants remain in place beyond the term of original agreement
TransTex Hunter Overview
38
41. Financial Strategy
Capital spending driven by rates of return across all operating areas
Focus on development of existing acreage in our core areas
2013 capital budget will focus on high return oil/liquids areas in the Williston and Appalachian Basins
Margins and EBITDA projected to substantially increase throughout the next two years
Limited overhead expansion required to meet growth objectives
Maintain manageable credit ratios and liquidity while managing growth
Continue to increase Senior Credit Facility borrowing base through reserves additions from organic
growth to maximize liquidity
• Current borrowing base of $265 million provides financial flexibility
Raised a total of $600 million of senior unsecured notes in 2012
Aggressively executing on $200+ million of identified non-core asset divestitures
Maintain sufficient liquidity to provide operational flexibility
Simplify balance sheet over time (sale of Eureka Hunter and redemption of Preferred Stock)
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/MMBtu on ~50% of estimated 2013 production
40
42. Capitalization
41
Note: Capitalization excludes Series A Convertible Preferred Units of Eureka Hunter Holdings, LLC and a $50 million term loan at Eureka Hunter Pipeline, LLC.
(1) Current borrowing base of $265 million.
September 30, December 31, March 31, June 30,
($ in millions) 2012 2012 2013 2013
Cash $22.0 $57.6 $91.2 $32.7
Debt:
Revolving Credit Facility due 2016 (1) $175.0 $225.0 $325.0 $0.0
Senior Unsecured Notes due 2020 $444.1 $600.0 $600.0 $600.0
Equipment and Real Estate Notes Payable $14.9 $18.5 $18.9 $22.5
Total Debt $634.0 $843.5 $943.9 $622.5
Redeemable Preferred Stock
Series C Cumulative Perpetual Preferred Stock (Non-Convertible) $100.0 $100.0 $100.0 $100.0
Shareholders’ Equity
Series D Cumulative Perpetual Preferred Stock (Non-Convertible) $206.9 $210.4 $221.2 $221.2
Series E Cumulative Convertible Preferred Stock $0.0 $94.4 $95.1 $95.1
Common Stock $508.6 $406.8 $348.5 $498.1
Total Capitalization $1,449.5 $1,655.2 $1,708.8 $1,536.9
43. 42
Adjusted EBITDAX Reconciliation
($ in millions) Full Year Full Year Full Year Full Year
2009 2010 2011 2012
Net income (loss) (15.1) (22.3) (76.7) (139.4)
Unrealized (gain) loss on derivatives, net 7.7 3.1 4.2 (10.9)
Interest expense, net 2.7 3.6 12.0 51.8
Income taxes expense (benefit) 0.0 0.0 (0.7) (23.0)
Impairment of oil and gas properties 0.6 0.3 22.9 4.1
Depreciation, depletion and amortization 4.5 8.9 49.1 135.8
Non-cash stock compensation expense 3.1 6.3 25.1 15.7
Non-cash 401K matching expense 0.0 0.0 0.0 1.4
Exploration & abandonment expense 0.6 0.9 1.5 117.2
Loss (gain) on sale of assets 0.0 (0.1) (0.2) 0.6
Unrealized (gain) loss on investments 0.0 0.0 0.0 0.0
Non-recurring transaction and other expense 1.2 3.4 13.2 15.2
Adjusted EBITDAX $5.4 $4.2 $50.4 $168.6
44. 43
Crude Oil and Natural Gas Hedges
(1) NYMEX strip pricing as of 9/12/2013
(2) Includes three-way oil collars: Floors sold (put) by year are as follows: 2013: 4,201 bbls/d at $62.92; 2014: 4,663 bbls/d at $64.95 ; 2015: 259 bbls/d at $70.00
(3) Does not include 10,000 MMBtu/d at $3.75 of sold puts in 2014 and 1,570 bbls/d at $120.00 of sold calls in 2015
Crude Oil 2013 2014 2015
NYMEX Average (1)
$104.87 $96.70 $88.88
Weighted-Average Hedge Price With Ceilings $100.38 $100.90 $115.93
Weighted-Average Hedge Price With Floors $87.33 $85.00 $85.00
Weighted-Average Swap Price $92.74 - -
Hedge Volumes (2)(3)
7,963 4,663 259
Natural Gas 2013 2014 2015
NYMEX Average (1)
$3.84 $4.01 $4.15
Weighted-Average Hedge Price With Ceilings $5.90 $5.05 -
Weighted-Average Hedge Price With Floors $4.50 $4.25 -
Weighted-Average Swap Price $3.62 $4.13 -
Hedge Volumes (2)(3)
35,534 20,000 -
45. 44
Non-Core Divestiture Summary
Aggressively pursuing $200+ million of non-core asset sales to enhance our financial
flexibility to focus capital on high return oil/liquids projects
Internal technical team evaluating portfolio for additional non-core property divestitures
(1) Includes Sentra, a utility in Kentucky, and other miscellaneous assets
Non-Core Asset Sales Value ($MM)
Completed To-Date
Burke County, North Dakota $32.5
Penn Virginia Stock $50.6
Red Star Gold $1.5
Subtotal $84.6
In Process
Pearsall Shale - Atascosa County $25.0 (Est.)
Waterfloods - North Dakota and West Virginia $85.0 (Est.)
Alberta, Canada Properties $15.0 (Est.)
Tableland, Saskatchewan $90.0 (Est.)
Other (1)
$5.0 (Est.)
Subtotal $220.0 (Est.)
Total Non-Core Assets $304.6 (Est.)
46. 45
MHR Net Asset Value*
* See Appendix for information regarding NAV, PV-10 and Standardized Measure
(1) Includes the proved reserves associated with the Burke County, ND properties (14,500 net acres) the subject of our previously announced pending sale to Oasis Petroleum for $32.5 million cash, scheduled to close
in late September 2013
(2) Approximate amount of undeveloped acreage as of September 2013
(3) Based on MHR’s estimated total market valuation of Eureka Hunter Pipeline of between $750 million and $1.0 billion and MHR’s approximate 60% equity ownership of Eureka Hunter Pipeline
(4) MHR’s estimated FMV of Alpha Hunter Drilling
(5) Basic shares outstanding as of August 7, 2013
Assumptions Valuation
($ in thousands) Low High Low High
Total Proved Reserves PV-10 (6/30/2013)
(1)
666,369 666,369
Undeveloped Acreage
(2)
Low High
Eagle Ford 6,000 $3,000 $5,000 $18,000 $30,000
Williston Basin U.S. 61,725 $3,000 $5,000 $185,175 $308,625
Williston Basin Canada 48,500 $1,000 $2,000 $48,500 $97,000
Marcellus 81,000 $5,000 $7,000 $405,000 $567,000
Utica - Wet 25,000 $10,000 $13,000 $250,000 $325,000
Utica - Dry 55,000 $8,000 $13,000 $440,000 $715,000
Other Appalachia 200,000 $50 $100 $10,000 $20,000
Total $1,356,675 $2,062,625
Certain Other Assets (6/30/2013)
Eureka Hunter Pipeline - MHR Share of Estimated Total Market Value
(3)
$420,000 $570,000
Alpha Hunter Drilling
(4)
$20,000 $40,000
Total $440,000 $610,000
Total Asset Value $2,463,044 $3,338,994
Less (6/30/2013):
Series C Preferred $100,000 $100,000
Series D Preferred $221,244 $221,244
Series E Preferred $95,069 $95,069
Senior Revolver Outstanding $0 $0
Senior Notes $600,000 $600,000
Other Debt $22,500 $22,500
Total $1,038,813 $1,038,813
Net Asset Value $1,424,231 $2,300,181
Shares Outstanding
(5)
171.2 171.2
Net Asset Value per Share $8.32 $13.43
$/acre
47. A Focused Company on the Right Path
46
Proven management and technical team in place committed to
proper capital allocation for future growth
Geographically diversified asset base in three of the most prolific
shale plays in the US (Utica, Marcellus and Bakken)
Successful proven track record in all aspects of the development of
key resource plays in the US
Improved balance sheet with significant liquidity to provide
operational flexibility in funding capital expenditures for future
growth
Continued focus on operational efficiency and net margin expansion
Commitment to best practices regarding financial and operational
procedures
48. Equity Research Coverage / Contact Information
47
Magnum Hunter Resources (NYSE: MHR)
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 Stifel Nicolaus
Deutsche Bank Securities SunTrust Robinson Humphrey
Goldman Sachs Topeka Capital Markets
Imperial Capital UBS Securities
KeyBanc Capital Markets Wunderlich Securities
49. Appendix
48
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 gas reserves is as follows:
As ofJune 30,
2013
(1)
Future cash inflows 2,768,997$
Future production costs (1,199,407)
Future development costs (285,526)
Future income tax expense -
Future net cash flows 1,284,064
10% annual discount for estimated
timing ofcash flows (617,695)
Standardized measure of discounted future
net cash flows related to proved reserves 666,369$
Reconciliation ofNon-GAAP Measure
PV-10 666,369$
Less: Income taxes
Undiscounted future income taxes -
10% discount factor -
Future discounted income taxes -
Standardized measure of discounted future net cash flows 666,369$
(1) The PV-10 value and the standardized measure shown in the table above are the same as the Company projects that any potential future net tax expense related to the projected future net cash flows above would
be offset by currently existing net operating loss carry forwards and tax basis even after consideration of the tax gain from the sale of the Eagle Ford Properties. The tax gain on the sale is expected to be primarily
offset in 2013 by the Company's expensing of intangible drilling costs and a projected tax loss from continuing operations. As a result, the majority of the net operating loss carry forwards available at December 31,
2012 will still be available to offset future net cash flows. Based on the lower projected future net cash flows, no tax expense, after utilization of the net operating loss carry forwards and tax basis, would be
recognized.