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APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd.

Twin Butte Energy Ltd. · Apr 4, 2015 · 27 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. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 1
    Printer-friendly version Q2 - 2015 Disciplined Dividend Company Positioned To Succeed TSX: TBE www.twinbutteenergy.com
  2. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 2
    Corporate Snapshot Deliver 10%+ average annual return (income and growth) Basic shares 353 MM Strong hedging St h d i position iti with ith D Dec 31 MTM value of 110 million Fully diluted 366 MM Over 85 million of unused…
  3. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 3
    2015 Key Priorities Maintain and Enhance Balance Sheet Flexibility Maintain a ta financial a ca d discipline sc p e ((Total ota…
  4. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 4
    Transition to higher Netback Barrels Quarterly Production Mix (boe) 100% Gas Focus Vertical Heavy y Oil Focus Horizontal Medium Oil Focus 80% 60% % 50%+ in 2015 40% 20% 0% 2009 2010 2011 2012 2013…
  5. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 5
    Quality Focus Netback Comparison Provost Lloyd - Non Core TBE (2014) Medium Area Heavy Area Other Production (boe/d) 7 869 7,869 11 400 11,400 1 987 1,987 21 256 21,256 Revenue 76.98 73.27 40.10 71.54 Royalties (9.91) (16.05)…
  6. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 6
    Financial & Operational Performance 2015* 2013 Actual 2014 Actual Forecast Average Production (boe/d) 17,585 21,256 19,100 Liquids Production (%) 88 90 91 Capital expenditures (net MM) 77 138 120 Cash Dividend (MM net of DRIP)…
  7. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 7
    Hedge Book Support Oil Hedging Reduces Cash Flow Volatility 14,000 84.00 12,000 82.00 10,000 80.00 65% 67% bbl/d heedged WCS 8,000 78.00 /bbl W 6,000 76.00 4,000 74.00 35% 35% 2,000 72.00 70.00 Q1 2015 Q2…
  8. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 8
    Focused Asset Base 91% of Corporate production in core area…
  9. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 9
    Capital Program Breakdown H1 capital < 45 MM (Q1 30MM) Annual capital budget will decrease if Estimated 2015 Capital commodity prices remain low (120 MM) * Provost 80% of capital Dina/Cummings development Sparky assessment and…
  10. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 10
    Provost Medium Oil Core Area Multi-zone potential Expanding land position 100 HZ wells drilled since 2010 2014 Netbacks 50/boe March 2015 production 8,950 boe/d Viking 500m Joli Fou Shale Upper Mannville Waseca…
  11. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 11
    Provost Efficient Reserve Growth Provost Area Reserve Proved Developed Proved plus Probable Reconciliation Producing (Mboe) Reserves (Mboe) December 31 31, 2013 10 224 10,224 21 320 21,320 Production (2014) (2,872) (2,872)…
  12. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 12
    Provost Dina-Cummings G J C G F E G G G G G R6 G G R5 C R4 G R3 R2 R1W4 J F Extensive well and seismic G G G G G G F F K G G G C D E G GG G G G G F G G G K C G G G GJ E G K G K J G F G J L C G G G G G G F GE G…
  13. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 13
    Provost Sparky G E E E G G D G EJEIEI EGIJI EI E I I G E I G G R4 J ID K G DG J I G G G G G R3 R2W4 G G G G IEI D S IIIIII II JEJ EE E E I E DI G G GK J G GJ G DD D ED H GIII 11 wells drilled to date EDG…
  14. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 14
    Provost - Lithic Channel Play K G DDG G EJ J H I JEJ DJJE I J E D D J SD S D D D I ED S G E G G G EIJJ EJJJEE I CHJJE S E G G DG S DED E DE J E DD IDDE EE E I E E E I I DS I E IDI D S G DG ED GD E J K GD E GS R4 ED G…
  15. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 15
    Lloydminster - Heavy 25 km Frog Lake Short Term Focus - Cost structure reduction Tangleflags Swimming Celtic - Selective shut-in of uneconomic barrels Heavy Lloydminster Silverdale Long Term Focus Wildmere Lashburn -…
  16. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 16
    Inventory Provost Average Per Provost Provost Heavy Dina/ Well Estimates Sparky Lithic Horizontals Cummings D,C,E Capital 870 1,040 1,150 1,000 (k) IP365 53 66 66 57 (boed) Capital Efficiency 16,400 15,750 17,500 17,500…
  17. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 17
    Conservative, Disciplined Balance sheet management is a priority. Total payout (dividend and capital) will not exceed cash flow. 2015 capital plan will be adjusted to fit ongoing commodity prices Long term focus on delivering…
  18. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 18
    Appendix 18 TSX: TBE
  19. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 19
    Analyst Coverage Company Analyst Target Action Acumen Trevor Reynolds y 1.50 Buyy BMO Capital Gordon Tait 1.25 Market Perform CIBC Capital Jeremy Kaliel 1.00 Sector Perform GMP Securities Stacey McDonald 1.25 Buy National…
  20. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 20
    Management and Board Management Rob Wollmann President and CEO Alan Steele Vice President, Finance & CFO David Middleton Chief Operating Officer Claude Gamache Vice President, President Geosciences Gord Howe Vice President, Land…
  21. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 21
    Debt & Liquidity December 31, 2014 millions Current bank credit facility 365 Bank debt (68% drawn) (248) Working Capital (deficit) (26) Liquidity (available credit facility) 91 Net debt Bank debt & working capital 274 C…
  22. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 22
    Cash Flow Protection Cash Flow Growth as Medium Oil Weighting Increases 250.00 200.00 150.00 h Flow MM 100.00 Cash 50.00 0.00 40 50 60 70 75 80 WCS pricing /BBL 41% Medium Hedge Adjusted 45% Medium Hedge…
  23. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 23
    Financial Sensitivity 2015 Payout Ratio adjusted for WCS and AECO Price Changes AECO Price 40 WCS 50 WCS 60 WCS 70 WCS (CAD/GJ) (CAD/bbl) (CAD/bbl) (CAD/bbl) (CAD/bbl) 2.00 111% 97% 86% 77% 2.50 110% 96% 85% 77% 3.00 109% 96%…
  24. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 24
    Provost Production History 10 000 10,000 - Predictable Legacy Base Boed - Material Horizontal Growth Total Production Pre2010 RR Wells 10% Decline 1,000 200001 200101 200201 200301 200401 200501…
  25. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 25
    2014 Yearend Reserves Summary 2014 Reserves Summary Company Working Interest As of Dec 31, 2014 McDaniel's Jan 1, 2015 Price Deck Lt+Med Oil Hvy Oil Gas NGLs BOE % of PV10 % of FDC RLI (Mbbls) (Mbbls) (MMcf) (Mbbls)…
  26. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 26
    Heavy Oil Differential WCS USD Heavy Crude Oil Monthly Basis - (5) (10) (15) USDD per Bbl (20) Avg 20.19 (25) (30) (35) (40) (45) Jul-11 Oct-11 Jan-12 Jul-12 Oct-12 Jan-13 Jul-13 Oct-13…
  27. APRIL 2015 INVESTOR PRESENTATION – Twin Butte Energy Ltd. – slide 27
    Positioned Positioned to succeed succeed Rob Wollmann President & CEO rwollmanntwinbutteenergy.com Alan Steele CFO asteeletwinbutteenergy.com TSX TBE TSX: www twinbutteenergy com www.twinbutteenergy.com 410, 396 11th…

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