Operational Highlights Q1 average production of 94,905boe/d was within the range of full year guidance Capital spending of 191MM was allocated over 81% toward operated development activity in our core light oil areas Development…
Net Debt Bridge As of March 31, 2015, the Company is in compliance with all financial covenants and had 1.5 billion of undrawn capacity on its bank facility. US/CAD foreign exchange rate movement increased the balance of long-term…
Financial Highlights Generated Funds Flow of 112MM(1) (0.22/sh basic) As at March 31, 2015, the Company was in compliance with all financial covenants under its lending agreements and it had 1.5 billion of undrawn capacity under its…
Q4/14 Q1/15 Funds Flow & Production Bridges Average volumes were lower sequentially Q1/15 Production Reconciliation 100 primarily as a result from asset disposition 97 Production (mboe/d) activity in Q4/14 as the Company 95…
Quarterly Cash Costs Despite similar level of development activity quarter-over-quarter, the Company continued to demonstrate success in cost reduction efforts 500 400 Quarterly Cash Cost (MM) 300 G&A (net)(1)…
Operated Development Activity 155MM of operated development capital represented over 81% of total investment in Q1. Over 90 percent of all net wells drilled were in our core light oil areas. Drilled 63 net wells, completed 75 net…
First Quarter 2015 Play Update Cardium Invested operated development capital of 104MM; drilled 27 wells and brought 30 wells on production With variability across regions in the Companys Cardium play, we continue to test different…
Operationally Stronger; Torque In Oil Recovery Amendments to debt covenants allow the Company to focus on operational excellence through down cycle Significant leverage to oil price recovery Demonstrated continuous improvement in…
Q&A
Appendix
Endnotes Slide 3 (1) D&C is drilling and completions. Slide 6 (1) Funds flow in the first quarter 2015 includes proceeds from the monetization of certain hedges. Slide 5 (1) DRIP Dividend Reinvestment Program; (2) Unrealized FX…
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