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ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc.

Whitecap Resources Inc. · Aug 9, 2012 · 28 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. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 1
    SUSTAINABLE OIL GROWTH PLATFORM August 9, 2012
  2. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 2
    Whitecap Corporate Profile Trading symbol / exchange WCP TSX Shares outstanding (MM) Basic 127.1 Fully diluted 134.7 Management, employees and directors ownership Basic 7% Fully diluted 11% Market capitalization (MM) 950 Average…
  3. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 3
    Whitecap Operations Summary 2012 2012 average production (boe/d) 14,000 14,500 % Oil + NGLs 69% Operating netback (/boe) 38.00 Reserves (MMboe) Proved 48.4 73% Oil + NGLs P+P 70.7 72% Oil + NGLs P+P RLI (years) 12.2 Total…
  4. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 4
    The Business Plan Motivated people + quality assets + focus = SUCCESS Founding Principles Employees are shareholders Light oil focus (80 to 100 WTI platform) Per share growth (cash flow, production, reserves and NAV) Execution…
  5. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 5
    Results Production Per Share Growth Annual Production Growth 20,000 150 18,000 135 118 16,000 120 (Production / MM shares - FD) 14,000 105 87 12,000 14,200 90 (boe/d) 10,000 75 61 8,000 49 60 6,000 45 4,000 5,657…
  6. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 6
    Results Cash Flow Per Share Growth Annual Cash Flow Growth 250.0 2.00 225.0 1.80 200.0 1.47 1.60 1.34 175.0 1.40 (Cash Flow / shares FD) 150.0 177.0 1.20 (MM) 125.0 1.00 100.0 0.80 75.0 0.48 0.60 87.2 50.0 0.40…
  7. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 7
    Results Reserves Per Share Growth Annual 2P Reserves Growth 80,000 700 525 70,000 600 496 60,000 500 (MBOE / MM shares FD) 70,700 50,000 400 (Mboe) 40,000 301 251 38,579 300 30,000 200 20,000 10,000 100 13,676…
  8. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 8
    Core Areas of Operations Visible Oil Development to 32,000 boe/d Production potential (boe/d) 7,000 Operating netback (/boe) current / new prodn 30 / 43 ALBERTA SASKATCHEWAN Production potential (boe/d) 11,000 Peace River Arch…
  9. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 9
    Whitecaps Cardium Horizontal Resource Play Whitecap Areas Edmonton East Pembina PRODUCTION 2012 Exit production (boe/d) 10,000 Area capability (boe/d) 21,000 RESERVES BOOKED Reserves P+P (MMboe) 43.2 Booked Recovery Factor (%) 5.0…
  10. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 10
    Operations Greater Pembina Cardium Light sweet oil (40 API) high netbacks Whitecap Lands Whitecap Hz Wells Cardium oil resource play repeatable and Industry Hz Wells Cardium Fairway expandable Contiguous land base and…
  11. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 11
    Operations Excellent Results to Date Whitecap continually improving & re-evaluating results Production rate improvement 36 to 40% increase 2010 2011 2012 IP30 rate 174 244 240 wells 29 32 10 to date % oil & NGLs 87% 92% 91% Cardium…
  12. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 12
    Operations Garrington Light oil (40 API) predictable Cardium development Large contiguous, high WI Cardium land base on 59 net sections Very consistent well results driven by uniform reservoir Development Hz inventory 199 (144 net),…
  13. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 13
    Operations Western Saskatchewan Viking Oil Light oil (36 API) resource area Sask Dodsland Viking trend Lucky Hills 6+ Billion bbls in place, 200 MMbbls rec-to-date (3%) Fiske 950 producing Hz wells, 400+ additional licensed True…
  14. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 14
    Operations Lucky Hills Core 2012 Program Plan to drill 40 wells Whitecap Western Saskatchewan Production Average production of 1,700 boe/d, 3,000 2012 Exit exit at 2,500 boe/d 2,500 boe/d 2,500 New Hz wells 48.00/boe operating…
  15. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 15
    Exceptional Type Curve Economics Type Well Economics East Pembina Cardium Garrington Cardium Lucky Hills Viking DCE&T (MM) 2.5 2.65 1.1 Production, IP30 (boe/d) 222 206 73 Production, IP90 (boe/d) 146 168 59 Reserves (Mboe) 170…
  16. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 16
    Economic Sensitivities to WTI US/bbl East Pembina Cardium Garrington Cardium Lucky Hills - Viking NPV / Well PIR 8,000,000 2.8 7,000,000 2.5 2.3 6,000,000 2.0 5,000,000 1.8 4,000,000 1.5 1.3 3,000,000 1.0 2,000,000 0.8 1,000,000…
  17. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 17
    Operations Valhalla North Original Waterflood Performance WCPs original asset stable, low risk oil 1,200 1,100 2,400 2,200 1,000 2,000 900 1,800 Montney Oil Sexsmith and Middle Montney 800 1,600 (36 API) 700 600 1,400…
  18. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 18
    Operations Valhalla Montney Sexsmith Waterflood Plan Large oil in place, low recovery to date Well defined pool boundaries Currently 57 producers with 17 injectors Sexsmith Long-Term Production Forecast Expansion of waterflood…
  19. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 19
    Resource Based Oil Upside Oil Development Upside (Gross)(1) Pembina Cardium Garrington WC Sask Viking Cardium Produced PRA Montney Booked Development SW Sask Expansion Roseray, Cantaur Remaining…
  20. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 20
    Operations Resource Based Upside Risked Development Upside(1)(3) Risked Expansion Upside(2)(3) Gross(4) Booked Dev. WI Expansion WI DOIIP Recovery Recovery Reserves NPV BT(10) Recovery Reserves NPV BT(10) Formations MMbbls Factor %…
  21. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 21
    Financial Prudence Current Hedge Position Oil Hedges Gas Hedges 6,000 110.00 14,000 3.00 5,000 12,000 2.75 100.00 2.50 4,000 10,000 90.00 2.25 8,000 bbls/d GJ/d 3,000 2.00 80.00 6,000 2,000 1.75 4,000 70.00 1.50…
  22. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 22
    Whitecap Outlook 2011 2012(1) % Change Operational Average production (boe/d) 5,657 14,200 151% Per MM share fully diluted 87 118 36% Exit production (boe/d) 8,500 17,000 100% % Oil + NGLs 67% 70% 3% Development capital (MM) 141…
  23. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 23
    The Whitecap Investment Opportunity Experienced & Motivated Team Track record of success knowledgeable, determined and focused Objective Per share value growth combined with prudent debt management Strong Balance of Value & Cash…
  24. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 24
    Research Coverage Current Price Targets AltaCorp Capital 9.35 Macquarie Equity Research 12.00 BMO 9.50 National Bank Financial 12.50 Casimir Capital 11.50 Peters & Co. 9.50 CIBC World Markets Inc. 10.00 Raymond James 11.00 Cormark…
  25. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 25
    TSX:WCP www.wcap.ca August 9, 2012
  26. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 26
    Appendix A NI 51-101 Resource Estimate Disclosures Gross MMbbls of Oil (Before Working Interest Applied) Discovered Discovered Oil Unrecoverable Avg Initially In Cumulative Contingent Oil Originally Region Formations WI Place(4)…
  27. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 27
    Whitecap Resource Based Oil Locations Risked Development Booked Risked Unbooked Additional Risked Expansion Locations Locations(1) Development Locations Locations(2) Formations Gross Net Gross Net Gross Net Gross Net Cardium 171 110…
  28. ENERCOMS THE OIL & GAS CONFERENCE – Whitecap Resources Inc. – slide 28
    Previous Companies Consistent Track Record SHARE PRICE GROWTH 2.20 to 7.29 1.92 to 19.45 2.20 to 6.75 per share per share per share 3.3x 10.1x 3.1x PRODUCTION GROWTH RESERVES GROWTH (1) Total production (Mboe) over the life of…

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