Perpetual Energy TSX:PMT DIVERSIFIED RESOURCE STYLE GROWTH ORIENTED Conventional ENTREPRENEURIAL Shallow Gas EXPLORER, PRODUCER & MARKETER Distributing Trust Common shares outstanding 148.5 million Management ownership 25.34%…
Operating Profile Conventional Shallow Gas Mannville Heavy Oil Eastern Alberta Bitumen Warwick Gas Storage Viking/Colorado Shallow Shale Gas Edson Wilrich Deep Basin Multi-Zone Liquids-Rich Gas Tight Oil and Gas…
Diversified Portfolio Built to Prosper SHALLOW LIQUIDS- HEAVY OIL BITUMEN OTHER GAS RICH GAS Maximize Invest For Invest For Advance and Advance and Cash Flow Growth Growth Optimize For Optimize For Value Value Eastern Alberta…
Portfolio Management Strategy PROVEN MEDIUM AND CASH FLOW DIVERSIFYING LONG TERM GENERATORS GROWTH STRATEGIES VALUE STRATEGIES Maximize Cash Flow Invest For Growth Optimize and Advance Conventional Shallow Gas Eastern Alberta…
Commodity Diversification Oil and NGL Production Revenue from Oil and NGL 4,500 25% 120 50% 45% 2014 Forecast Revenue 4,000 100 Warwick Gas 20% 40% Storage 3,500 Percentage of total production (%) 35% Oil and NGL…
Asset Base Transformation 100% 10,000 90% 9,000 Resource-style growth 8,000 80% assets 43% of production in 2013 and growing 7,000 Growth Asset Production (bbl/d) 70% Production (% of total) 60% 6,000 2014 Focus…
2013 Annual Results
2013 Top 5 Strategic Priorities 1. Maximize Value of Mannville Heavy Oil 2. Position for Growth of Edson Liquids-Rich Gas 3. Manage Downside Risk 4. Advance and Broaden Portfolio of High Impact Opportunities with Risk Managed…
2013 Top 5 Strategic Priorities 1. Maximize Value of Mannville Heavy Oil 13 Mannville oil pools discovered by year end 2013 (7 Lloyd; 5 Sparky; 1 Basal Quartz) Drilled 37 horizontal wells (35.7 net) for 49 million Increased heavy…
2013 Top 5 Strategic Priorities 2. Position for Growth of Edson Liquids-Rich Gas Drilled 5 (2.5 net) horizontal wells Increased gas and NGL production 12% to 4,894 boe/d (29.4 MMcfe/d) Reserve additions of 13.64 MMboe offsetting…
2013 Top 5 Strategic Priorities 3. Advance and Broaden Portfolio of High Impact Opportunities with Risk-Managed Investment Elmworth Sold for 77.5 MM to Crystallize Value Drilled and completed vertical well to continue majority of…
2013 Top 5 Strategic Priorities 4. Manage Downside Risk and Reduce Debt Decrease Costs Operating costs down 5% from 2012 (2013 - 75.4 MM) Interest expense decreased 11% from 2012 (2013 - 28.9 MM) G&A down 10% from 2012 (2013 - 24.5…
2013 Top 5 Strategic Priorities 5. Prepare to Maximize Value from Shallow Gas in Gas Price Recovery Operating Costs Shallow gas op costs reduced 7.4MM (12.9%) from 2012 Suspended shut-in wells and pipelines and removed unused onsite…
2013 Full Year Capital Spending Summary Total Capital: 96.7 Total 2013 Wells Capital Mannville Heavy Oil 37 (35.7 net) 49 MM (1) West Central Deep Basin 6 (3.0 net) 35 MM Land, Seismic, ARO & Other 12 MM Total 96 MM…
2013 Production Highlights Oil & NGL production 412 bbl/d to 3,860 bbl/d, a 12% from 2012 levels Mannville heavy oil grew 17% Change in processing at Edson reduced NGL Natural gas production 11% to 88.9 MMcf/d due to shallow gas…
2013 Funds Flow Change from 2012 Year Ended December 31 % Oil & Gas Price 32.0 MM ( Millions) 2013 2012 Change Revenue 210.9 206.5 2 Oil & NGL Prodn 9.7 MM GOB Royalty 8.9 6.9 29 Hedging Gains 24.3 MM Gas Prodn 10.2 MM Royalties…
2013 Balance Sheet Reconciliation Year Ended December 31 ( Millions) 2013 2012 % Change Exploration & Development 96.7 79.7 21 Acquisitions, net of Dispositions (51.6) (164.5) (67) Total Capital Expenditures 45.1 (84.8) (153)…
Reserve Distribution PNP/PUD 2PNP/2PUD 2PDP Mannville Heavy Oil Total Reserves = 62.4 MMbbl PDP Deep Basin PDP Eastern Shallow Gas 2PNP/2PUD 2PDP PNP/PUD 2PDP 2PNP/2PUD PDP PNP/PUD (1) Year-End 2013 PDP - Proved…
Reserve Value Distribution Mannville Heavy Oil PNP/PUD 2PNP/2PUD Total NPV 10 = 622 million 2PDP Deep Basin PDP PDP Eastern Shallow Gas 2PDP 2PNP/2PUD PNP/PUD 2PNP/2PUD PDP PNP/PUD 2PDP PDP - Proved Developed…
2014 Top 5 Strategic Priorities 1. Reduce Debt and Manage Downside Risk 2. Grow Edson Liquids-Rich Gas Production, Reserves, Cash Flow, Inventory and Value 3. Maximize Value of Mannville Heavy Oil 4. Maximize Cash Flow from Shallow…
Investment Thesis
2014 Capital Spending Plan Total Capital: 70 80 MM Q1 2014 Q2-Q4 2014 Total Wells Capital Wells Capital Wells Capital West Central Deep 3 gross Up to 7 (3.5 Up to 10 18 MM 21-26MM 39-44MM Basin (2.0 net) net) (5.5 net) Mannville…
Gas Price Risk Management Type of Contract Term Volumes Fixed Price Futures % of 2013 Price(1) Natural Gas (GJ/d) (/GJ) (/GJ) Production(2) AECO Fixed Apr Jun 2014 20,825 4.01 4.36 18% Price Financial AECO Fixed Apr Oct 2014…
Oil Price Risk Management Type of Term Volumes Fixed or Ceiling Price Futures % of 2013 Contract Floor Price (/GJ) Price(1) Oil & NGL (bbl/d) (/bbl) (/bbl) (/bbl) Production(2) WTI collars Mar Dec 2014 1,500 US 86.67 US 95.15 US…
Strong Annual Growth 2013 (versus 2012) Oil and NGL production growth of 12% Mannville oil production growth of 24% Resource-style deep basin production growth of 14% Funds flow and funds flow per share growth of 19% Debt reduction…
Sum of the Parts NAV Per Share 1,250.00 8.50 Unrisked NAV 7.18/Share Warwick Gas Storage 1,000.00 6.80 Viking/Colorado Shallow Shale Gas Conventional Shallow Gas Risked NAV 4.90 /Share Edson/West Edson 750.00 5.10 Bitumen NPV…
PMT Investment Thesis Asset base repositioning for resource-style oil and NGL diversification successful Mannville heavy oil delivering results with material secondary recovery growth potential Edson Wilrich liquids-rich gas…
FOR ADDITIONAL INFORMATION: Susan L. Riddell Rose President & CEO Cameron R. Sebastian Vice President, Finance & CFO 3200, 605 5 Avenue SW Calgary, Alberta CANADA T2P 3H5 800.811.5522 TOLL FREE 403.269.4400 PHONE…
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