Q1/14 Financial Highlights Funds flow was 279MM (0.57/share) Netback improved 38% to 36.67/boe from Q4/13 Long-term debt at quarter-end was reduced by 180MM(1) compared to Q4/13 Operating expenses decreased 28MM (14%) from…
Q1/14 Operational Highlights All planned capital activities were completed during the quarter with development capital at 205MM compared to plan of 230MM 47 wells drilled exceeded plan to drill 34 wells 49 wells on-stream exceeded…
Q4/13 Q1/14 Funds Flow Bridge 320 300 28 279 280 (9) (2) Funds Flow (MM) 106 (4) 260 240 220 216 200 180 Increase in Funds Flow 160 (56) driven by strength in 140 Q4/13 Production Commodity Operating Volume…
Q1/14 Production Profile Q1/14 exit rate adjusted for A&D is above 2014 entrance rate Improvements in runtime have helped offset expected declines, leading to a relatively low net decline figure year-to-date Q1/14 Production…
Q4/13 Q1/14 Net Debt Bridge 3,000 75 13 2,860 205 2,750 55 2,713 402 (3) (279) (213) 360 Net Debt (MM) 2,500 Decrease in Net Debt 2,250 401 Increase in Net Debt 221 Net Working Capital Bank Debt Senior…
Cardium Play Update Q1/14 spent 65MM and rig released 19 wells vs plan of 15 Brought 15 wells on production vs plan of ten 2014 plan to spend 270MM (225% increase over 2013); rig release 67 wells and further expand our waterflood…
Viking Play Update Q1/14 spent 23MM and rig released ten wells consistent with our plan Brought 26 wells on production vs plan of 22 For 2014 planned investment of 148MM (53% increase over 2013) to rig release 104 wells and further…
Slave Point Play Update Q1/14 spent 77MM and rig released 12 wells vs plan of 10 Brought seven wells on production vs plan of four 2014 planned investment of 145MM to rig release 21 wells and further expand our waterflood…
2014 Priorities Deliver the Program as Planned Focus on operational consistency and stability in 2014 across all business areas Build 18 - 24 months of executable inventory, positioning for sustained and efficient execution Cycle…
Play Performance Metrics Current Performance vs 2014 Budget and Long-Term Plan Targets Gross Well Count Over 95% of development capital is allocated in our 500 three core areas through the long-term plan 400 Slave Point Program…
Price Realizations By Product Oil NGLs Natural Gas Q1 2014 Q4 2013 Q1 2014 Q4 2013 Q1 2014 Q4 2013 /bbl /bbl /bbl /bbl /mcf /mcf WTI or Henry Hub Benchmark US 98.62 97.50 98.62 97.50 4.69 3.85 Benchmark Differential US (8.25)…
Definitions and Industry Terms All references to dollar amounts in this presentation are to Canadian dollars unless otherwise specified. A&D means oil and natural gas property acquisitions and divestitures. D&C means drilling and…
Non-GAAP Measures Advisory In this presentation, we refer to certain financial measures that are not determined in accordance with International Financial Reporting Standards (Canadian GAAP). These measures as presented do not have any…
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