Economics : Type Curve
Showing 3 Results
Enhancing Asset Quality in West Central
2020 Focus on Strachan Glauc
R7W5
Q1 2020 Wells
Drilled two, 1.5 mile wells in Q1 2020 with plans
to complete in 3Q*
T38
Average Production per well (4 wells drilled in sections 7 & 18):
1,200
Avg value capital per well, 5.4 million
Production (boe/d)
1,000 Avg EUR* per well, 1,200 mboe
<18 months 800
payout* 600
400
200
0
1 2 3 4 5 6 7 8 9 10 11 12
Months on production
Condensate Other NGL Gas
* Refer to Advisories Referenced by Slide Number
www.bonavistaenergy.com TSX: BNP 14
Bonavista Energy Corp
June 2020
LOWER MANNVILLE (ELLERSLIE) /
UPPER MANNVILLE (NOTIKEWIN / FALHER)
LOWER MANNVILLE WELL PERFORMANCE* UPPER MANNVILLE WELL PERFORMANCE*
2,000 3,000
Upper Mannville (Ferrier)
Lower Mannville (Ellerslie) 2,500
1,600 Type Curve
Type Curve
2,000
1,200
BOE/D
BOE/D
1,500
800
1,000
400 500
0 0
1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12
MONTHS ON PRODUCTION MONTHS ON PRODUCTION
LOWER MANNVILLE ELLERSLIE Expected gross per well economics UPPER MANNVILLE FERRIER Expected gross per well economics
DCET Well Cost ( million) 3.4 DCET Well Cost ( million) 4.3
Peak IP30 Rate (boe/d)*** 685 Peak IP30 Rate (boe/d)*** 1,100
EUR per well (mboe)*** 684 EUR per well (mboe)*** 813
After Tax ROR (%) 65% After Tax ROR (%) 12%
After Tax Payout (years) 1.4 After Tax Payout (years) 4.8
After Tax NPV10 ( million) 3.5 After Tax NPV10 ( million) 0.2
Recycle Ratio 3.7x Recycle Ratio 1.5x
F&D (/boe) 5.00 F&D (/boe) 5.25
Production Efficiency at IP30 (/boe/d) 5,000 Production Efficiency at IP30 (/boe/d) 3,900
Assumptions: WTI US55/bbl, MSW diff (US5.00)/bbl, AECO 1.50/mmbtu; escalated at 2%; CAD/USD 1.33 Assumptions: WTI US55/bbl, MSW diff (US5.00)/bbl AECO 1.50/mmbtu; escalated at 2%; CAD/USD 1.33
Lower Mannville generates IRR of 30% at 0 gas price and US55 WTI, while Upper Mannville requires flat gas price of 1.25/mmbtu to break-even (10% IRR)**
CONVENTIONAL ECONOMICS WITH RESOURCE PLAY INVENTORY DEPTH
* Operated and non-operated Ellerslie well performance in West Pembina - 2013 to December 2019. Operated and non-operated upper Mannville well performance in Ferrier - 2014 to December 2019. Some wells
produce at restricted rates. ** Other (non-gas) commodity prices and foreign exchange assumptions reflect WTI US50/bbl, MSW diff (US3.25)/bbl escalated at 2%, CAD/USD 1.33. *** IP30 and EUR rates based on 55
historical results. EUR based on 2P reserves with internal adjustments to reflect remaining inventory.
Vermilion Energy Inc.
May 2020
Spirit River All-In Profitability
5.2 Bcf Type Curve
C1.50/GJ C2.50/GJ Full Cycle F&D costs
Drill 1.5MM
Full cycle F&D costs /Mcfe (0.71) (0.71) Complete 1.4MM
Equip & tie in 0.5MM
Half cycle costs 3.4MM
Land/seismic/facilities 1.0MM
Cash costs /Mcfe (2.17) (2.25) Full cycle costs 4.4MM
EUR (P50) 6.2 Bcfe
Sales price /Mcfe 3.24 4.24 Full cycle F&D 0.71/Mcfe
Cash costs C1.50/GJ C2.50/GJ
Royalties (est 8%) 0.26/Mcfe 0.34/Mcfe
Profit /Mcfe 0.36 1.29 Operating costs 1 0.73/Mcfe 0.73/Mcfe
Transport2 0.38/Mcfe 0.38/Mcfe
Profit margin % 11% 30%
G&A2 0.22/Mcfe 0.22/Mcfe
Interest & financing2 0.57/Mcfe 0.57/Mcfe
Total costs 2.17/Mcfe 2.25/Mcfe
Half Cycle IRR % 52% 127%
Sales price C1.50/GJ C2.50/GJ
Total sales price3 3.24/Mcfe 4.24/Mcfe
Note: Numbers may not add due to rounding
1 Incremental operating costs assume 0.56/Mcf for natural gas through third party plants, 0.16/Mcf for gas processed through BXE Alder plant and 8.00/bbl for oil/condensate. Includes
estimated attributed operating cost impact from 75 million facilities disposition announced May 13, 2016.
2 Representative transport, G&A and interest costs based on first half 2019 corporate costs
3 Sales prices assume AECO at 1.69/Mcf (1.50/GJ) or 2.82/Mcf (2.50/GJ) as per scenario with net NGL pricing: ethane 12/bbl, propane 25/bbl, butane 40/bbl and condensate
70/bbl incorporating liquids extraction capabilities given mix of gas through third party and BXE Alder Flats Plant. 19
Bellatrix Exploration Ltd.
August 2019