PBN:TSX PetroBakken Summary Generating value through light oil resource plays Repeatable organic growth combined with an attractive dividend yield Bakken resource play is maturing and generating an estimated 160 million of free cash…
PBN:TSX A Resource Play Well Each well creates positive shareholder value Targeting capital payback to be less than 2 years Generates 25+ year revenue stream post payback of capital Typical Bakken Well 250 200 Primary Recovery…
PBN:TSX Development of a Resource Play 35,000 Ten Year Bakken Development Project (4 years 90 wells/yr then 45 wells/yr thereafter) 30,000 Actual Bakken production Current estimated Bakken 25,000 decline rate 28% 20,000…
PBN:TSX Opportunity Portfolio Focused strategy with concentrated assets Q1 Production Mix Multi-year growth 13% Gas prospects 87% Oil & Over 1.1 million net acres Liquids of undeveloped land Over 2,150 low risk Q1 Production by…
PBN:TSX PBN Versus Intermediate Peers Light Oil = High Netbacks Q1 2011 per BOE Profitability Industry leading operating (excludes hedging) netbacks 80 Operating Netback Q1 2011: 52.42/boe (average 70 Operating Expense US94.10…
PBN:TSX 2011 Capital Forecast Business Drilling Capital 2011 exit production expected to be Units (Net Wells) (millions) between 46,000 49,000 boepd Bakken 80 (1) Since most of our production is from 205 (2) wells drilled in the past…
PBN:TSX Financial Highlights Funds flow from operations 2010: 646 million (3.51/basic share + 11% over 2009) Q1 2011: 173 million (0.92/basic share) 0.96/share per annum dividend (paid monthly) 177 million paid in 2010 US750 mm of…
PBN:TSX Bakken Business Unit Overview High operating netbacks 2010: 52.95/boe (US79.53/bbl WTI) 2011E: 59.17/boe (US91.00/bbl WTI average) Large inventory of development locations Significant remaining primary reserves to be…
PBN:TSX Focused Bakken Activity Extensive infrastructure and operated production We are well positioned to maintain Bakken production with a large land base and an extensive network of operated infrastructure Over 510 (430 net)…
PBN:TSX Bilateral Evolution Development of Bilateral horizontal well technology Bilateral wells are capital efficient for down-spacing: Four bilateral wells will fully develop a section Eight single laterals required to achieve…
PBN:TSX Bakken 3.0 in Perspective Achieving superior performance Average results from first 140 bilateral horizontal wells and 121 offsetting single lateral wells 250 Optimized Bakken Quarter Section Development Bilaterals Economics…
PBN:TSX Bakken Completions Another Improvement PBN enhances completions to improve productivity and lower water cuts CleanTech(TM) Completion (144 days) Out of Zone Completion (365 days) 300 Higher Earlier, out-of-zone, fracture…
PBN:TSX Bakken EOR Pilot Projects Experimentation increases in 2011 Reservoir studies indicate gas should be effective injection candidate CO2 injection demonstrated improved recoveries in offsetting wells PBN projects now focus on…
PBN:TSX Bakken EOR Projects Up to five pilot projects to be started in 2011 All EOR pilot projects are in close proximity to our existing infrastructure allowing us to take advantage of our produced natural gas EOR Project…
PBN:TSX Cardium Business Unit Overview Our next major resource play Land position now exceeds 320 (240 net) sections predominantly in prime region of the play Production increased from 0 to 7,335 boepd in 2010 We are now the most…
PBN:TSX Cardium Results Early Pembina results Rate vs Cumulative Production Experimentation has led 400 West Pembina Slickwater (1) East Pembina Slickwater (1) us to utilize slick water frac completions Early Pembina Wells(2)…
PBN:TSX The Cardium - A Busy Year December 2009 December 2010 Land 4 Net Sections 240 Net Sections Production 0 boepd 7,335 boepd Drilling Activity 0 Rigs 10 Rigs Wells Drilled 0 75 (55 net) Reserves 0.8 MMBOE 43 MMBOE Estimated…
PBN:TSX Conventional Business Unit Overview Opportunities in conventional Mississippian formations Downspace pools with horizontal wells, usually without fracs Generating surplus cash flow 2010: 55 million, 2011E: 50 million Robust…
PBN:TSX Conventional Business Unit Opportunities Mississippian production, light sweet crude oil Optimized SE Saskatchewan Conventional Well Economics (Crown) Capital (mm) 1.16 Netback (life of well) (/boe) 67.70 NPV10% (mm) 3.0…
PBN:TSX NE BC and Alberta Business Unit Overview NE BC provides exposure to tremendous natural gas resource plays Horn River shale plays are dry gas and require higher prices for development Montney play at Monias is liquids-rich…
PBN:TSX New Emerging Alberta Resource Plays PBN well positioned for rapid development Meaningful land position with over 190 net undeveloped sections, exposed to new emerging oil and liquids-rich gas resource plays Planning to…
PBN:TSX Growing a Resource Play Company Repeatable organic growth combined with an attractive dividend yield Large undeveloped land base, with more than 2,150 drilling locations Continuing to apply innovative ideas and refine…
PBN:TSX www.petrobakken.com Eighth Avenue Place 2800, 525 8th Avenue SW Calgary, Alberta T2P 1G1 Phone (403) 268-7800 Fax (403) 218-6075
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