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MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd.

Tamarack Valley Energy Ltd. · Mar 9, 2015 · 26 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. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 1
    TVE: TSX-V www.tamarackvalley.ca Resilient in Tough Times, Positioned for the Future March 2015 1
  2. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 2
    Circa 2010 Strategy and Culture Holds Up in Tough Times Key Points Out of Strategy Applicable Today Full cycle ROR decision making Still want 1 to 1.5 year paybacks or no drilling Manage the balance sheet Ensure survival in low…
  3. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 3
    Tamarack has Historically been Successful Reducing Costs It is engrained in TVEs culture to continually drive down costs; TVE is well suited to deliver on a 20% reduction in costs in 2015 Blocky land base in Wilson Creek allows…
  4. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 4
    Key Points in this Presentation Deliver on your promises- Wilson Creek Exceeding Expectations Tamarack achieved its 2014 exit rate with the addition of 11 net wells in Wilson Creek The newly acquired oil battery at Wilson Creek…
  5. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 5
    What Successful Companies do in a Downturn Pumping costs Drilling day rates 98-100/bbl WTI Cdn rig count 56% 46% 30-40% Crude prices 45-50/bbl WTI Poorest economics Period to negotiate contracts Deploy capital…
  6. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 6
    2015 Budget Principles Realistic pricing in plan TVE will base 2015 plan on strip or lower pricing Rate of return capital deployment Only drill when an acceptable ROR is obtained through higher commodity prices and/or reduced costs…
  7. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 7
    Tamarack Profile TVE : TSX-V Corporate Operational 2013 2014 Shares outstanding (mm) 77.928 Production (boe/d) 3,276 5,717 Fully diluted (mm) 83.66 Exit production (boe/d) 4,718 9,700 Share price April 2/15 4.16 % Liquids 60 61…
  8. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 8
    2015 Realistic Budgets on Realistic Prices AECO - Gas /GJ Edmonton Par - Oil /bbl 5.50 90 5.00 80 4.50 70 4.00 60 3.50 3.00 50 2.50 40 2.00 30 1.50 TVE Plan Price (Edm Par) TVE Plan Price 20 GLJ Q1 2015 1.00 GLJ Q1 2015 10 WTI…
  9. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 9
    2015 Budget Financial Stats per BOE 2014 Actuals 2015 Budget Average pricing Edm Par 94.09/bbl 51.60/bbl AECO (monthly index) 4.40/GJ 2.65/GJ /boe Revenue 60.38 33.92 Royalties 7.78 (12.9%) 3.62 (10.7%) Operating costs 13.68…
  10. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 10
    Capital Expenditures (millions) 2014 2015 Budget Land and seismic 7.0 0.7 Drill and completion 119.7 37.2 Equip and facilities 26.7 8.6 Capitalized G&A and office 0.5 0.5 Wilson Creek acquisition 166.1 n/a Dispositions (31.1) -…
  11. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 11
    Reserve and Recycle Ratio Considerations Reserves are conservatively booked by design (historical negative revisions are abnormally low) Conservative year end booking due to late production adds in 2014 resulting in: Hatton…
  12. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 12
    Hatton Beating GLJ Estimates 08-29 Net Oil Production 22/09-29 Net Oil Production GLJ FORECAST FIELD PRODUCTION GLJ FORECAST FIELD PRODUCTION 600 200 Pump change 500 150 400 Currently down waiting on break-up BOPD 300…
  13. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 13
    Reserves Summary P+P Reserves (mboe) Reserve Value PV10 (millions) 400.0 0.600 9.00 35,000 Natural Gas 0.559 33,237 (+78%) Natural Gas 8.17 363.2 (+33%) NGLs 350.0 Oil & Associated Products 19.0 8.00 30,000 Oil 0.526 0.500 PV10 /…
  14. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 14
    Wilson Creek 4500 Wilson Creek reserves added in 2015 13,963 mboe 4000 Current production 10% above PDP estimate 3500 Effective the close date of Oct 1/14, 11.2 mmboe was Production (boe/d) 3000 added thru the Wilson Creek…
  15. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 15
    Wilson Creek Drilling Plan and Infrastructure TVE land Tuck-in land Acquisition land Cardium rights TVE owns key infrastructure in an Alder Flats Acquisition land No Cardium rights infrastructure constrained area Existing Cardium…
  16. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 16
    Wilson Creek Strong Production Adds & Flattening 6,500 Treater fire-tube failure Q4 2014 New Drills 6,000 Production declines flattening TVE Wilson WILSON Creek CREEK 5,500 Workovers Suncor Base 5,000 4,500 4,000 3,500…
  17. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 17
    Wilson Creek Q4 Drilling Results boe/d boe/d Pump Capacity Pump Capacity Days on Production Days on Production Outside Operated Actual cum production per well (3 net wells) Actual well tests Type curve Type curve…
  18. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 18
    Premier Oil Areas Repeatable, Sustainable, Scalable Viking Oil greater Redwater area Existing TVE Core Areas Play 4 Location confidential 40 net sections Q4/14 Production 1,059 boe/d 190 million barrels OOIP Booked inventory 89…
  19. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 19
    Key 6 Month Objectives and Look-back What we did in Objectives for What we said we would do Q4 2014 / Q1 2015 Q1 2015 / Q2 2015 Exit Q4/14 at 9,500 boe/d; average Exit Q4/14 at 9,700 boe/d for last 2 weeks Deliver 8,000 boe/d in…
  20. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 20
    Why Buy/Continue to Own Tamarack Resilient assets in low commodity price environment Preserves a solid balance sheet As commodity prices improve, TVE high quality inventory will be economic earlier than most inventory TVE has a…
  21. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 21
    TVE Contact Information Tamarack Valley Energy 3100, 250 6th Avenue SW Calgary AB T2P 3Y7 Tel: 403.263.4440 www.tamarackvalley.ca infotamarackvalley.ca 21
  22. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 22
    Appendix 22
  23. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 23
    The Tamarack Team Management Board of Directors Brian Schmidt, President & CEO Floyd Price, Chairman Current: CAPP Vice-Chair, IOGC Board Member Current Directorships: Cimarex Energy, Former: Spearpoint Energy (President), Source…
  24. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 24
    Current Hedges as at March 11, 2015 Term Hedge type Counterparty Volume Pricing October 1, 2014 to October 31, 2014 WTI fixed price Macquarie Bank 1,200 bbls/d Cdn 97.85/bbl November 1, 2014 to December 31, 2014 WTI fixed price…
  25. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 25
    Wilson Creek Better Performance by Tamarack Oil Type Curve (Rate vs. Time) by Operator in Wilson Creek TVE Average Well 48,000 Industry avg. Month 24 Peers 31,831 bbls Average TVE Well Month 12 Average TVE 16 Wells 44,380 bbls…
  26. MARCH 2015 CORPORATE PRESENTATION – Tamarack Valley Energy Ltd. – slide 26
    Building Credibility - Six Month Review What we said we would do What we did in Objectives for Q214 / Q314 Q214 / Q3 14 Q4 2014 / Q1 2015 Produce 4,700 boe/d average for H1/14; Averaged 4,696 boe/d H1/14; will Exit Q4 /14 9,500…

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