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Q1 2015 – Twin Butte Energy Ltd.

Twin Butte Energy Ltd. · Mar 23, 2015 · 25 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q1 2015 – Twin Butte Energy Ltd. – slide 1
    Printer-friendly version Q1 - 2015 Balance Sheet Strength Fiscal Discipline TSX: TBE www.twinbutteenergy.com
  2. Q1 2015 – Twin Butte Energy Ltd. – slide 2
    Corporate Snapshot Deliver 10%+ average annual return (income and growth) Oil leveraged production (90% liquids) Basic shares 352 MM Current production 20,400 boe/d (48% heavy Fully diluted 362 MM oil*, 42% medium oil* & NGLs, 10%…
  3. Q1 2015 – Twin Butte Energy Ltd. – slide 3
    Key Priorities Balance sheet management - Approximately 50% of oil volumes hedged for 2015 at over 100 WTI ( 80 WCS) - Lower capital spending in the first half of 2015 will allow for 15- 20 million reduction of net debt by June 30…
  4. Q1 2015 – Twin Butte Energy Ltd. – slide 4
    Hedge Book Support Oil Hedging Reduces Cash Flow Volatility 14,000 84.00 12,000 12 000 82 00 82.00 10,000 80.00 65% 67% ed bbl/d hedge /bbl WCSS 8 000 8,000 78 00 78.00 6,000 76.00 35% 35% 4 000 4,000 74 00…
  5. Q1 2015 – Twin Butte Energy Ltd. – slide 5
    Financial & Operational Performance 2014 2015** 2013 Actual Forecast* Forecast Average Production (boe/d) 17,585 21,400 19,100 Liquids Production (%) 88 90 91 Capital expenditures (net MM) 77 139 120 Cash Dividend (MM net of…
  6. Q1 2015 – Twin Butte Energy Ltd. – slide 6
    Cash Flow Protection Cash Flow Growth as Medium Oil Weighting Increases 250.00 200.00 150.00 h Flow MM 100.00 Cash 50.00 0.00 40 50 60 70 75 80 WCS pricing /BBL 41% Medium Hedge Adjusted 45% Medium Hedge…
  7. Q1 2015 – Twin Butte Energy Ltd. – slide 7
    Focused Asset Base Alberta Saskatchewan 91% of Corporate production in core area…
  8. Q1 2015 – Twin Butte Energy Ltd. – slide 8
    Expanded Medium Gravity Inventory Provost Average Per Provost Provost Heavy Heavy Dina/ Well Estimates Sparky Lithic Horizontals Verticals Cummings D,C,E Capital 900 1,300 1,300 1,100 550 (k) IP365 53 66 66 57 34 (boed)…
  9. Q1 2015 – Twin Butte Energy Ltd. – slide 9
    Capital Allocation Transition 100% 90% 80% Accelerating focus on more 70% predictable, higher value barrels 60% 50% 40% 30% 20% 10% 0% 2012 2013 2014 2015 2016 2017 2018 Vertical Convetional Heavy Provost Dina/Cummings…
  10. Q1 2015 – Twin Butte Energy Ltd. – slide 10
    Capital Program Breakdown Provost Dina Cummings Select extensions and infills Estimated 2015 Capital Expand water handling capacity (120 MM) decline management Expand footprint on satellite opportunities Provost Sparky & Lithic…
  11. Q1 2015 – Twin Butte Energy Ltd. – slide 11
    Provost Oil Core Area Multi-zone potential Expanding land position 100 HZ wells drilled since 2010 2014 Netbacks 50/boe US60 WTI forecasted 2015 netback 30/boe Viking 500m Joli Fou Shale Upper Mannville Waseca…
  12. Q1 2015 – Twin Butte Energy Ltd. – slide 12
    Provost Production History 10,000 - Predictable legacy base Boed - Material horizontal growth Total Production Pre2010 RR Wells 10% Decline 1,000 200001 200101 200201 200301 200401 200501 200601…
  13. Q1 2015 – Twin Butte Energy Ltd. – slide 13
    Provost Dina-Cummings Extensive well and seismic control Large oil in place with high recovery factors - natural natural water flood 2015 - Select extensions and infills - Expand water handling - Expand footprint R3W4 D…
  14. Q1 2015 – Twin Butte Energy Ltd. – slide 14
    Provost Dina-Cummings HZ Production 120 100 - Predictable average results 80 Oill Rate (bopd) - Potential P t ti l ffor positive iti reserve revisions i i 60 40 20 0 1 3 5 7 9 11 13 15 17 19 21 23 25…
  15. Q1 2015 – Twin Butte Energy Ltd. – slide 15
    Provost Sparky 7 wells drilled through 2014 Strong initial results Decreasing DCE costs Expanding footprint Focused 1H 2015 development Long L tterm water t flood fl d potential t ti l Sparky Hz Production 120 100…
  16. Q1 2015 – Twin Butte Energy Ltd. – slide 16
    Provost Lithic Channel Play Multiple, thick (10m) oil charged prospective channel siltstones intervals crisscross TBE land base 3 wells drilled in 2014 Encouraging initial productivity 2015 Select 1H development Expanding…
  17. Q1 2015 – Twin Butte Energy Ltd. – slide 17
    Heavy Oil Core Area 25 km Frog Lake Short Term Focus - Cost structure reduction Tangleflags - Selective shut-in of uneconomic barrels Swimming Celtic Heavy Silverdale Long Term Focus Wildmere - Horizontal single and…
  18. Q1 2015 – Twin Butte Energy Ltd. – slide 18
    Conservative, Disciplined Business Model Balance sheet management is a priority. Total payout (dividend and capital) will not exceed cash flow. 2015 capital plan will be adjusted to fit ongoing commodity prices Long term focus on…
  19. Q1 2015 – Twin Butte Energy Ltd. – slide 19
    Appendix 19 TSX: TBE
  20. Q1 2015 – Twin Butte Energy Ltd. – slide 20
    Analyst Coverage Company Analyst Target Action Acumen Trevor Reynolds y 1.50 Buyy BMO Capital Gordon Tait 2.00 Market Perform CIBC Capital Jeremy Kaliel 1.00 Sector Perform GMP Securities Stacey McDonald 1.50 Buy National…
  21. Q1 2015 – Twin Butte Energy Ltd. – slide 21
    Management and Board Jim Saunders Chief Executive Officer (CEO) Rob Wollmann President Alan Steele Vice President, Finance & CFO David Middleton Chief Operating Officer Claude Gamache Vice President, Geosciences Gord Howe Vice…
  22. Q1 2015 – Twin Butte Energy Ltd. – slide 22
    Heavy Oil Differential WCS USD Heavy Crude Oil Monthly Basis - (5) (10) (15) USSD per Bbl (20) Avg 20.66 (25) (30) (35) (40) (45) Apr-11 Oct-11 Apr-12 Oct-12 Apr-13 Oct-13 Apr-14…
  23. Q1 2015 – Twin Butte Energy Ltd. – slide 23
    Financial Sensitivity 2015 Payout Ratio adjusted for WCS and AECO Price Changes AECO Price 40 WCS 50 WCS 60 WCS 70 WCS (CAD/GJ) (CAD/bbl) (CAD/bbl) (CAD/bbl) (CAD/bbl) 2.00 111% 97% 86% 77% 2.50 110% 96% 85% 77% 3.00 109% 96%…
  24. Q1 2015 – Twin Butte Energy Ltd. – slide 24
    Heavy Development C K J F D K L G D S C Wildmere GD E H E H E K I E K G G LE D E E E DJ I I E ID D H D HD Swimming R6 A G L E E HH H H I H J E E I H G R5 G I I I I I E G J E E E E HH E I I E E K DR4W4…
  25. Q1 2015 – Twin Butte Energy Ltd. – slide 25
    A Long Term Sustainable Model Jim Saunders - CEO jsaunderstwinbutteenergy.com Rob Wollmann President rwollmanntwinbutteenergy.com Alan Steele CFO asteeletwinbutteenergy.com TSX TBE TSX: www twinbutteenergy com…

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