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RBC June 2014 Crude Oil by Rail – Baytex Energy Corp.

Baytex Energy Corp. · Jun 2, 2014 · 17 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. RBC June 2014 Crude Oil by Rail – Baytex Energy Corp. – slide 1
    RBC Capital Markets GLOBAL ENERGY AND POWER CONFERENCE New York, New York Geoff Darcy, Senior Vice President, Marketing June 2, 2014 Brian Ector, Senior Vice President, Capital Markets and Pubic Affairs
  2. RBC June 2014 Crude Oil by Rail – Baytex Energy Corp. – slide 2
    Baytex Growth and Income Model Focus on per share growth in production and reserves Organic Oil Growth Long-term, Low-Cost Inventory Sector-leading capital efficiency Operational excellence Meaningful Dividend Focus on dividend…
  3. RBC June 2014 Crude Oil by Rail – Baytex Energy Corp. – slide 3
    Operating Areas Lloydminster Peace River Heavy Oil 33% Heavy Oil 43% Light Oil 13% Gas 11% Lloydminster Peace River Heavy Oil 38% Heavy Oil 42% Light Oil 16% Gas 4% Lloydminster Peace River Heavy Oil 36% Heavy Oil…
  4. RBC June 2014 Crude Oil by Rail – Baytex Energy Corp. – slide 4
    Crude By Rail
  5. RBC June 2014 Crude Oil by Rail – Baytex Energy Corp. – slide 5
    WHY Rail Access higher netback markets that are not available to us by pipe today US Gulf Coast Refiners US Fuel Oil Markets US Asphalt Markets Market diversification Protect against collapsing Western Canadian heavy oil…
  6. RBC June 2014 Crude Oil by Rail – Baytex Energy Corp. – slide 6
    2013 Canada and US Refinery Demand
  7. RBC June 2014 Crude Oil by Rail – Baytex Energy Corp. – slide 7
    Illustrative Costs of Moving by Rail
  8. RBC June 2014 Crude Oil by Rail – Baytex Energy Corp. – slide 8
    Rail Value Proposition 1. Embedded Optionality Scalability Market Flexibility 2. Time Arbitrage: Construction Time In-transit Time 3. Location Arbitrage: Maya - WCS Spread 4. Bitumen Arbitrage: WCS Bitumen Spread Condensate…
  9. RBC June 2014 Crude Oil by Rail – Baytex Energy Corp. – slide 9
    Bitumen Arbitrage - Condensate contributes 5 to 10/bbl Pipeline Process: Purchase Natural Gasoline in Gulf of Mexico at 95% of WTI price Pay 15/bbl shipping and handling to move supply to Western Canadian field location. Blend 30%…
  10. RBC June 2014 Crude Oil by Rail – Baytex Energy Corp. – slide 10
    Rail Project Value Chain Rail Strategy Rail Requires 1. Crude Supply 2. Loading Facility 3. Rail Cars (Coiled and Insulated for Bitumen) 4. Operational and Logistics Expertise 5. Unloading Facility 6. Refinery Buyer Baytex is…
  11. RBC June 2014 Crude Oil by Rail – Baytex Energy Corp. – slide 11
    Rail Volume History (as of Feb 2013) Initially expected Rail to comprise 10% of our Sales Portfolio. Has become an effective vehicle for WCS Hedge Management. Term Rail reduces price volatility. Provides netback certainty in line…
  12. RBC June 2014 Crude Oil by Rail – Baytex Energy Corp. – slide 12
    Rail Volume Update - 2014 Has become an integral and sustainable part of our business model. Competitive advantage relative to other producers. Increases netbacks and reduces price volatility. Loading facility infrastructure…
  13. RBC June 2014 Crude Oil by Rail – Baytex Energy Corp. – slide 13
    Peace River - Loading Facility Map (CN Rail System)
  14. RBC June 2014 Crude Oil by Rail – Baytex Energy Corp. – slide 14
    Peace River Loading Facility Growth February 2013: Elbow Roma 6500 b/d Gibson Sexsmith 3500 b/d Total 10000 b/d February 2014: ANC/Nexen Whitecourt 10000 b/d Elbow Nampa 10000 b/d Predator High Prairie 10000 b/d Savage Reno…
  15. RBC June 2014 Crude Oil by Rail – Baytex Energy Corp. – slide 15
    Oil Marketing Portfolio Q2 2014 Heavy Oil Sales Portfolio WTI Financial Hedging Q2 / 2014 % Hedged 62% Fixed Price US99.47/bbl Q3 / 2014 % Hedged 41% Fixed Price US97.53/bbl FY 2014 % Hedged 48% Fixed Price US98.52/bbl…
  16. RBC June 2014 Crude Oil by Rail – Baytex Energy Corp. – slide 16
    Rail Classification and Safety
  17. RBC June 2014 Crude Oil by Rail – Baytex Energy Corp. – slide 17
    Questions Source: CAPP

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