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ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc.

Whitecap Resources Inc. · Aug 18, 2011 · 26 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. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 1
  2. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 2
    Whitecap Corporate Profile Trading symbol / exchange WCP TSX Shares outstanding (mm) Basic 72.2 Fully diluted 76.9 Market capitalization ( mm) 500 Management, employees and directors ownership (fd) Basic 11% Fully Diluted 17%…
  3. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 3
    Whitecap Operations Production (boe/d) Base 6,800 (65% oil & NGLs) 2011 exit 8,300 (70% oil & NGLs) Current operating netback (/boe) (1) 46.25 Reserves (MMboe) Proved 15.1 (68% oil & NGLs) P+P 25.3 (69% oil & NGLs) P+P RLI…
  4. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 4
    The Business Plan Motivated people + quality assets + focus = SUCCESS All employees are shareholders Light oil focus Large oil in place and low current recovery factor 80 to 100 WTI price platform Per share long term growth (cash…
  5. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 5
    Whitecap Growth Record To-Date Start Sept 2009 Current % Growth Production (boe/d) 850 6,800 700% Per fd share (boe/d/mm) 41 88 115% Reserves (MMboe) Proved 2.7 15.1 459% P+P 4.8 25.3 427% Per fd share (Mboe/mm) 233 329…
  6. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 6
    Whitecap Areas of Operation Oil drilling inventory 131 Base % decline 12% 2011 exit guidance (boe/d) 2,700 ALBERTA Identified potential (boe/d) 5,000 SASKATCHEWAN Peace River Arch Valhalla Oil drilling inventory 125 Base %…
  7. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 7
    Valhalla North A Premium Oil Resource Stable asset underpins value for Whitecap Large Montney Sexsmith oil pool - DPIIP 83 MMbbls Light oil (36 API) generates strong netback Successful waterflood currently being expanded Shallow…
  8. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 8
    Valhalla Montney Sexsmith Oil Waterflood Simulation Match Oil Saturation Remaining as of December 2010 Further development of successful waterflood underway Less than of recoverable oil being accessed under current development 57…
  9. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 9
    Valhalla North Type Curves and Economics Type Curve boe/d rate Per Well DCE&TI ( m) 4,800 Production, IP 3 months (boe/d) 230 Reserves (Mboe) 550 Oil (%) 90% NPV BT10 (000) 6,520 Profit to investment ratio 1.4 Rate of return (%) 41%…
  10. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 10
    Additional Upside - Middle Montney oil Synergy with Montney Sexsmith additional DPIIP 38 MMbbls Provides additional low cost light oil production growth Expect to perform as well as Montney Sexsmith Underdeveloped oil resource…
  11. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 11
    Sexsmith and Middle Montney Value Upside Montney Middle Total Gross Sexsmith Montney DPIIP (MMbbls) 83 38 121 Total unbooked (MMboe) 26(1) 18 42 Incremental FDC(2) ( mm) 58 37 95 Risk on recovery (COS%) 80% 70% Net…
  12. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 12
    Pembina Cardium Light Oil Growth Potential Strong concentration in East Pembina Light sweet oil (41 API) Large contiguous land base Central facilities and pipeline infrastructure (including 5 oil batteries) Low operating costs…
  13. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 13
    Pembina Excellent Results to Date Cardium Horizontal Type Curves Experience with Horizontal Cardium Have 54 producing horizontal Cardium wells Majority of Hz wells at or above type curve Have decreased costs (3.1 mm to 2.5 mm)…
  14. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 14
    Cardium Exceptional Well Economics Cardium Horizontals Per well East Pembina South Pembina DCE&T ( m) 2,500 2,800 Production, IP 3 months (boe/d) 150 135 Reserves (Mboe) 150 240 Oil (%) 90% 60% NPV BT10 (000) 3,053 3,469 Profit to…
  15. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 15
    Fosterton South Roseray Low Risk Infill Drilling Fosterton Roseray DPIIP 31 MMbbls Shallow decline, low recovery to date Further downspacing underway Facility expansion proceeding to increase throughput Low risk locations at…
  16. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 16
    Whitecap Upside Potential Summary Risked Reserve Risked Value Per Share Upside (MMbbls) Upside ( mm) (/basic share) Net Montney Sexsmith 13 286 3.96 Middle Montney 6.3 126 1.75 Pembina Cardium 19.2 384 5.32 Fosterton Roseray…
  17. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 17
    Focus & Results Per Share Growth Production Growth Per Share Reserves Growth Per Share Sept 2009 Exit Dec 2010 Current Exit Dec 2011e 450 Sept 2009 Dec 2010 Dec 2011e 120 110 +54% +36% 400 Production per share (boed/mm) 100…
  18. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 18
    Where to from here Exit 2011 with production of 8,300 boe/d (70% oil & NGLs) Set stage for 2012 and 2013 with production growth expectations in excess of 30% per share / year Target 2012 cash flow per share (basic) of 2.00/share…
  19. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 19
    2011 Pursuing Value Growth 2010 2011e % Change Operational Average production (boe/d) 1,433 5,600 291% Exit Production 3,200 8,300 159% % oil & NGLs 52% 70% 18% Operating netback (/boe) 29.54 46.50 57% Net CAPEX (excl. acquisitions…
  20. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 20
    Exercising Financial Prudence 2011 Hedging Summary 2012 Hedging Summary Volume Price Volume Price (bbls/d) (C/bbl WTI) (bbls/d) (C/bbl WTI) 2H swaps 1,300 106 2012 swap 300 107 2H collars 500 83 / 108 2H swaps 4,000 GJ…
  21. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 21
    Active Research Coverage Current Price Targets Casimir Capital 11.00 Cormark Securities 10.50 FirstEnergy Capital 9.75 GMP Securities 9.75 Haywood Securities 11.00 Macquarie Equity Research 10.50 National Bank Financial 10.00…
  22. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 22
    The Whitecap Investment Opportunity Experienced & Motivated Team Track record of success knowledgeable, determined and care Sound Capital Structure Objective: per share growth and prudent debt management Strong Balance of Value &…
  23. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 23
    TSX:WCP www.wcap.ca August 10, 2011
  24. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 24
    The Whitecap Team, Proven Track Record Management Years Experience Grant B. Fagerheim, President & CEO 28 Joel Armstrong, VP Production & Operations 24 Dan Christensen, VP Exploration 24 Darin Dunlop, VP Engineering 21 Thanh Kang, VP…
  25. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 25
    Whitecap Acquisition History Sept 17, 2009 Acquired Valhalla North asset for 58 mm 850 boe/d; 4.8 MMboe(1) (50% oil and NGLs) ALBERTA June 25, 2010 SASKATCHEWAN Acquired Fosterton pool through RTO Peace River Arch transaction of…
  26. ENERCOMS THE OIL AND GAS CONFERENCE – Whitecap Resources Inc. – slide 26
    Previous Companies Consistent Track Record SHARE PRICE GROWTH 2.20 to 7.29 1.92 to 19.45 2.20 to 6.75 per share per share per share 3.3x 10.1x 3.1x PRODUCTION GROWTH RESERVES GROWTH (1) Total production (Mboe) over the life of…

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