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CORPORATE PRESENTATION – Peyto Exploration & Development Corp

Peyto Exploration & Development Corp · Nov 20, 2013 · 39 slides

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Slides

  1. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 1
  2. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 2
    Peyto Profile N TSX Listing: PEY N Shares Outstanding: 148.7 million, 5% insiders N Monthly Dividend: 0.08/share (incr. from 0.06 effective May/13) N Current Production: 420 MMCFe/d (70,000 boe/d) N YE 2012 2P Reserves: 2.35 TCFe…
  3. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 3
    Third Quarter 2013 Highlights YoY Production/share YoY FFO/share Q3/13 Operating margin YoY Share price YoY Dividend/share* increase (incl. div.) As at Sept. 30 Q3/13 Profit margin Q3/13 Total cash costs/mcfe** FFO is…
  4. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 4
    The Peyto Strategy Grow Our Assets Production 2P Reserves Funds from 2P NPV5 DA (Bcfe/mm sh) (MMcfe/d/mm sh) Operations (/sh) (/sh) 38 656 36 16.6 36 35 34 561 14.5 2.92 31 3.02 31 476 12.9 2.71 29 476 443 2.65 428…
  5. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 5
    The Peyto Strategy Control Our Costs PDP FD&A Operating Interest Cost G&A (/Mcfe) Costs (/Mcfe) (/Mcfe) 2.95 2.88 w/transportation 0.51 0.50 (/Mcfe) 0.41 2.39 2.22 2.26 2.12 0.39 0.36 2.11 2.10 0.54 0.31 0.52 0.53…
  6. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 6
    The Peyto Strategy Growth per Share 2014 YE Target 81,500 boe/d 12 60 450 Production per Unit or Share (boe/d per million) 400 10 350 Gas Price (/GJ) 8 PEY+ Cum Div 300 250 6 30 200 150 4 100 2 50…
  7. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 7
    Peytos Profitable Business
  8. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 8
    Peytos Profitable Business Profitable Even Through The Lows AECO Monthly 10 /GJ 37% Ave. Peyto Realized Gas Price (/mcfe) Profit Cum To Date 8 6 Bonus 4 Cash Costs 2 PDP FD&A - 2000 2001 2002 2003 2004 2005 2006…
  9. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 9
    Peytos Profitable Business Cost Control Challenges for the Canadian Industry CND 2012** CND 2011* CND 2010* PDP FD&A /mcfe (3.84) (4.17) (4.71) Cash Costs /mcfe (3.79) (3.91) (3.71) Sales Price /mcfe 7.12 7.89 7.69 (0.74)…
  10. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 10
    Peytos Unique Assets
  11. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 11
    Peytos Assets Geographically Focused Core Areas 400,000 net acres 9 operated gas plants Cutbank ---(510 mmcf/d net capacity) 1000+ km pipelines 800+ producing zones Kakwa 70,000 boe/d Chicken Leland Processed by Peyto Pine…
  12. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 12
    Peytos Assets Deep Basin Permeability Segregation FOOTHILLS STRUCTURES GAS AS ING INCRE BILITY EA PERM WATER TRANSITION ZONE WATER GAS SE INCREAH AREA OF GAS DEPT MATURATION 13 11/15/2013
  13. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 13
    Peytos Assets Multi Zone Stacked Sandstone Reservoirs Up to per section 14 *NGL recoveries can increase by 15+ bbl/mmcf with deeper cutting processing facilities 11/15/2013
  14. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 14
    Peytos Assets Production By Formation 15 11/15/2013
  15. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 15
    Peytos Assets Swanson/Ansell Area Plant Expansion Ansell Pipeline PEY 2012 Drilling ONR Base 2013 Activity 50km 10 Pipeline to Swanson plant (ONR) 18G (17.5N) Wells drilled (Wilrich, Cardium, Falher) Plant refrig…
  16. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 16
    Peytos Assets Brazeau River Area Keyera Brazeau Sour Gas Plant (1968) CP OChiese 200 mmcf/d Sour Gas Plant (1997) 85 mmcf/d Peyto Brazeau Keyera Nordegg Sour Gas Plant (1969) 20 mmcf/d 75 mmcf/d Nordegg sweet facility…
  17. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 17
    Peytos Assets Deep Basin Lands Go A Long Way 450 Peyto Lands 400 Net Lands (000's acres) 350 +32% YoY 300 250 200 150 Net Peyto Sections 100 50 - Net Sections of Cardium, Dunvegan, Notikewin, Falher, Wilrich,…
  18. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 18
    Peytos Assets Large Hz MSF Inventory To Do Done1 Total Total Hz Hz Locations Total Total Locations Unbooked Vertical Hz Booked* Wells Wells 56 432 52 191 29 5 1 5 1 14 90 39 79 61 7 14 14 54 13 35 222 14 93 97 165…
  19. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 19
    Peytos Assets Longest Reserve Life 10.0 5.0 Peyto 2012 PP RLI (yrs) 0.0 AAV FEL ZAR CR NGL ERF ARX BIR CPG BTE PGF VET TET PBN PMT PEYTO PWT BNP Industry 2012 PP RLI (yrs) 20…
  20. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 20
    Peytos Assets Lowest Operating Costs Gas Producers How We operate Full facilities No water No sour Chemical recycle Nat gas fuel Continuous CAGR innovation 0.5 %/yr 21 BOE factor - 6 mcf = 1 bbl of oil equivalent…
  21. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 21
    Peytos Assets Deep Gas Drilling Royalty Incentives 3,500-4,000 m MD Trigger depth for Natural Gas Deep Drilling Program 2,200 m reduced from TVD 2,500m TVD to 2,000m TVD 3,700-4,000 m MD 2,650-2,850 m TVD 4,200 m MD…
  22. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 22
    Peytos Assets Facility Ownership and Control Oldman North W WW Peyto Gas Plants YE 2013 YE 2014 WI Peyto Nosehill Gas Plant: 125 MMCF/d throughput 1 Oldman 125 mmcf/d 125 mmcf/d 100% 2 Nosehill 125 mmcf/d 125 mmcf/d 100% 3…
  23. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 23
    Peytos Incredible Returns
  24. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 24
    Peytos Business Focus on Returns Drives Capital Discipline 2013 2012 17,600/boe/d ONR Acq 38,600/boe/d 2011 17,500/boe/d 2013YE Target 70,000 71,000 boe/d 70,000 2010 17,300/boe/d 2009 17,300/boe/d Annual Production Wedge…
  25. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 25
    Peytos Returns Returns Driven Organic Activity 70,000 60,000 2012 50,000 40,000 30,000 Net Capital to PV5 20,000 10,000 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Production/share growth*…
  26. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 26
    Peytos Returns Flexible Capital Allocation Required Bluesky 39% Includes provision of 520k per well for Facilities, Land and Seismic Full Cycle IRR on 86 of 86 2012 Wells by Species, Insite Dec 31/12 Prices 27 11/15/2013
  27. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 27
    Peytos Returns Continuously Improving Results 6,000 3,000 Cardium HZ - 45 bbl/mmcf* Notikewin HZ +10 bbl/mmcf Recomb Raw Gas (Mcfe/d) 2010 - 9 wells Recomb Raw Gas (Mcfe/d) 2009/10 - 11 wells 4,000 2011 - 13 wells 2,000…
  28. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 28
    Peytos Future
  29. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 29
    2014 Outlook Biggest Year Ever (again) Drill 115-125 Hz Wells (100% Hz-MSF, Liquids Rich Natural Gas) Expand & Extract Increase Processing Capacity & NGL Yield Increase Undeveloped Land Base Shoot Seismic 2014 Capital…
  30. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 30
    2014 Outlook Large Resource + Low Cost = Profitable Growth 2014 Budget 575MM625MM 100,000 110 122G (101112N) Wells, 910 rigs 100,000 Add 32k to 35k boe/d for 18,000/boe/d 78,500 to 81,500 boe/d exit 90,000 90,000 71,000 boe/d…
  31. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 31
    2014 Outlook Continuously Improve Profitability 2014 Goals* Pad drilling CNG powered rigs PDP FD&A…
  32. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 32
    Appendix N Quarterly Track Record N Tax Pools N Payout N Hedging Strategy N Gas Marketing N Liquids Marketing N FAQ 33 11/15/2013
  33. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 33
    Quarterly Track Record 2013 2012 2011 Q3 Q2 Q1 Total Q4 Q3 Q2 Q1 Total Q4 Q3 Q2 Operations Production Oil & NGLs (bbl/d) 6,295 6,374 5,840 4,778 5,286 5,236 4,480 4,101 3,856 3,947 3,918 3,811 Natural gas (mcf/d) 300,286 310,621…
  34. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 34
    Organic Business Model Peytos Tax Pools 1,400 1,200 1,000 800 Federal Tax Pools Millions 600 Q4/12 400 200 - 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 CEC UCC (25%) CEE (100%) CDE…
  35. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 35
    Peytos Payout Dividend Sustainability 1,600 1,400 1,200 (Millions) 1,000 800 Peyto Cum. Earnings 600 Q4/12 400 200 0 Q1 2000 Q4 2000 Q3 2001 Q2 2002 Q1 2003 Q4 2003 Q3 2004 Q2 2005 Q1 2006 Q4 2006 Q3…
  36. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 36
    Successful Hedging Strategy Peyto Realized Price History 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 16.00 Peyto 7.51/mcf Peyto 7.38/mcf Peyto 8.78/mcf Peyto 8.48/mcf Peyto 8.42/mcf Peyto 8.64/mcf Peyto 6.44/mcf…
  37. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 37
    Gas Marketing Future Sales (contracts before 2013) Financial Hedges - Gas Pricing 2012 2013 2014 2015 Date contracted GJ/d (/GJ) A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O 08-Oct-10 5000…
  38. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 38
    Gas Marketing Future Sales (Contracted in 2013) Financial Hedges - Gas Pricing 2012 2013 2014 2015 Date contracted GJ/d (/GJ) A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O 15-Jan-13 5000…
  39. CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 39
    Liquids Marketing Future Sales Financial Hedges - Propane 2012 2013 2014 Term bbl/d Pricing (/bbl) A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M From To 01-Sep-12 31-Mar-13 66 49.56 01-Sep-12 31-Mar-13 66…

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