Investor Presentaiton
Long-Life Enhanced Oil Recovery CO 2 Flood
Delhi Field
Overview
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• Delhi Field is in northeast Louisiana in Franklin, Madison, and Richland parishes
• Produces out of the Tuscaloosa and Paluxy (Holt-Bryant) reservoirs
• Produced over 210 MMBO since it was discovered in the 1940s
© CO₂ enhanced oil recovery (EOR) development began in 2009 by Denbury
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CO2 injection allows improved mobility of the oil from the reservoir
NGL Plant
Highlights
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No Louisiana oil severance taxes (at 12.5%) until payout
Delhi crude price based on Louisiana Light Sweet (LLS) pricing which is historically a
premium to WTI; ~70% of production is oil
Oil transported by pipeline from field - no current capacity constraints
Rich mix of heavier NGLs, or 60% C4 + C5
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Third party reserve report demonstrates remaining field life of over 20 years (1)
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418 MMBO of gross original oil in place (OOIP)
Statistics
Operator
Avg Net Daily Prod (2Q FY2023)
Acreage (100% HBP)
EPM Average WI % / Avg. NRI %
Pricing
Commodity Split (Reserves) (1)
Net PDP Reserves (1)
Net PDP Reserves / Net Production (R/P)(1)
2012-2013
Denbury Resources
2009
I
2010
I
1,131 BOEPD
I
Phase V
I
Unquantified Future
I
1
Phase IV
~13,600 gross/~3,600 net acres
I
Expansion
23.9% / 26.2%
Louisiana Light Sweet (LLS)
Mengel Unit
Phase I
Phase II
70% Oil, 30% NGLS
6.0 MMBOE
Phase III
T
14 years
2018
Notes:
2015-2017
PUD Infill
25
1. FYE2022 reserves prepared by DeGolyer & MacNaughton as of 7/1/2022 at 6/30/2022 SEC prices of $5.19/MMBTU and $85.82/bbl.
2011
Infill Drilling in Phases I & II
Program
Town of Delhi
Unquantified future expansion in
downdip thinner reservoirs & eastern
phase-dependent on oil price
AEVOLUTION
Petroleum CorporationView entire presentation