Penn West in 2015 2015 Production Guidance Trading Information (1) 90,000 - 100,000 boe/d Listing TSX:PWT NYSE: PWE Share Price C1.77 US1.37 Shares Outstanding 502.2MM 502.2MM Natural Gas Market Capitalization C888MM US688MM 31%…
Significant Progress in First Year of Plan Measure Outlook Details 2014 average production of 103,989 boe/d above Average Production ON TARGET mid-point of guidance range of 101,000 106,000 boe/d Opex run rate down 200MM on an…
Proactive Measures To Ensure Financial Flexibility Effective March 10, 2015, the Company reached agreements in principle with the lenders and the noteholders to, among other things, amend its financial covenants The amendments…
Proactive Measures To Ensure Financial Flexibility The Company also agreed as follows: To reduce the existing 1.7 billion revolving bank facility to 1.2 billion At December 31, 2014, the bank facility was completely undrawn The…
2015 Budget: Next Step in Delivery 2015 capital to focus on oil development, primarily on the Cardium and Viking Plays After adjusting for dispositions, 2015 plan implies approximately flat annual average production relative to…
Waterflood Initiatives Enhancing value through Waterflood Forecasted Percentage of Production Under Active Waterflood 2014E 2019E Number of active vertical injectors (gross wells) 900 900 Number of active horizontal injectors (gross…
Current Play Life Cycle Company Focus on Development and Harvest Position & Prove Initial Full Harvest Deplete PWTs expertise is developing and Commerciality Development Development or Exit harvesting light oil resources Cardium…
Current Hedging Position Approximately 40% of 2015 natural gas production hedged between 3.69 - 4.52/mcf Approximately 70% of 2015 power consumption hedged at 55.59/MWh Approximately 20% of 2016 power consumption hedged at…
2014 2P Reserves & NPV Reconciliation 2P Company Gross (WI) Reconciliation 650 New adds replaced Year-end 2014 Company Gross (WI) 2P 156% of 2014 production 2P W.I. Reconciliation (mmboe) 625 Reserves of 561 mmboe, essentially…
Debt Capital Structure Senior Debt to EBITDA of 2.1 times at December 31, 2014 Credit Syndicate Private Notes 1.7B capacity CAD2.1B private notes Facility undrawn as at Dec 31, 2014 3.7 years average remaining 0.5B expires June…
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