DNR Corporate Presentation -- June, 2019

A reader alerted me to a new DNR presentation to coincide with the Bakken coofest. Link here. Dated June 18 - 19, 2019, JP Morgan 2019 Energy Conference, the presentation will download as a pdf.

I don't know if this is the one to which the reader is referring, but I would assume if not, the presentations would be similar.

High points:

• 60% of the company's production via CO2 enhanced oil recovery (EOR)
• crude: mid-30s API; low sulfur (exactly what US refiners looking for)
• 60% of production receives Gulf Coast "premium pricing" 
• of 15 oil companies in its peer group, DNR ranks itself #1 in "liquids production" with 97% production in crude oil
• of 20 oil companies in its peer group, DNR ranks itself #8 in operating margins, just slightly above the peer average of $24.90/boe
• DNR's exposure in "our" area is the Cedar Creek Anticline area straddling the North Dakota - Montana state line area, in far southwest corner of North Dakota; most of that footprint is in Montana
• financial and operational goals for 2019:
• $50 - $100 million free cash at $50 oil; $120 - $170 million at $60 oil
• CAPEX plan reduced 20 - 25% from 2018
• EOR potential greater than 400 million bbls in the Cedar Creek Anticline (CCA)
• will be targeted in two new phases of expansion

Much more at the presentation regarding DNR's  plans for its other areas of operation.

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