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APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp

Peyto Exploration & Development Corp · Apr 15, 2015 · 47 slides

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Slides

  1. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 1
  2. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 2
    The Peyto Strategy What We Believe PEYTO Exploration & Development Corp. N We believe natures gas is the fuel for the future. N We believe we can make a real profit by being the lowest cost, most efficient producer in the…
  3. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 3
    The Peyto Strategy How We Do It PEYTO Exploration & Development Corp. Invest in our own ideas Build it ourselves Operate it ourselves Focus on maximum return Stay concentrated, lean & efficient 4 4/22/2015
  4. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 4
    The Peyto Strategy Superior Shareholder Returns PEYTO Exploration & Development Corp. 60 700,000 14 50 12 40 Shareholder IRR 10 30 8 Future strip 20 6 10 4 1,000 0 2 1998 1999 2000 2001 2002 2003 2004 2005…
  5. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 5
    The Peyto Strategy 15th 19982013 Profitably Grow Our Assets Production Growth Reserves Growth PDP FD&A Operating Costs (MMcfe/d/mm sh) (2P Bcfe/mm sh) (/Mcfe) w/transportation (/Mcfe) 2.95 1087 2.88 20.8 2.35 0.54 2.39 2.22…
  6. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 6
    The Peyto Strategy Growth per Share PEYTO Exploration & Development Corp. NEW 2015 YE Target 96,000 to Production per Unit or Share (boe/d per million) 100,000 boe/d 600 15 75 500 12 60 Gas Price (/GJ) 400…
  7. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 7
    Peyto Profile PEYTO Exploration & Development Corp. N TSX Listing: PEY N Shares Outstanding: 158.1 million, 4% insiders (as of Feb. 5/14) N Monthly Dividend: 0.11/share (incr. from 0.10 effective Nov/14) N Current Production: 0.5…
  8. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 8
    Peytos Profitable Business PEYTO Exploration & Development Corp.
  9. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 9
    Peytos Profitable Business 15th 19982013 Build it for less than we sell it PEY 2014 PEY 2013 Land/Acq 13MM Seismic 8MM Drilling 312MM PDP FD&A /mcfe (2.25)* (2.35) Compl. Wellsite Facilities 183MM 54MM 120MM 690MM PDP…
  10. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 10
    Peytos Profitable Business Profitable Even Through The Lows PEYTO Exploration & Development Corp. AECO Monthly 10 Peyto Realized Gas Price (/mcfe) /GJ 37% Ave. Profit Cum To Date 8 6 Bonus 1.60 4 Cash Costs…
  11. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 11
    Peytos Profitable Business Profitability Challenges for the Canadian Gas Industry PEYTO Exploration & Development Corp. 2014 2013 PDP FD&A 2012 2011 20101 /mcfe (3.09) (2.93) (3.43) (3.68) (3.11) Cash Costs /mcfe (3.12)…
  12. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 12
    Peytos Profitable Business Competitive In The North American Marketplace PEYTO Exploration & Development Corp. 13 4/22/2015
  13. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 13
    Peytos Profitable Business Profitability By Basin PEYTO Exploration & Development Corp. 100% Deep Basin PEY 2014 80% Marcellus Cabot 2014* 64% Fay/36% Mar SWN 2014** PD FD&A /mcfe (2.25) (0.97) (2.91) Cash Costs /mcfe (1.08)…
  14. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 14
    Peytos Unique Assets PEYTO Exploration & Development Corp.
  15. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 15
    Peytos Assets Geographically Focused Core Areas PEYTO Exploration & Development Corp. 440,000 net acres R10 R5W6 R27 R22 R17 9 operated R12 R7W5 gas plants Cutbank ---(610 mmcf/d net capacity) 1000+ km pipelines 1000+…
  16. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 16
    Peytos Assets Deep Basin Permeability Segregation PEYTO Exploration & Development Corp. Ante Ck FOOTHILLS STRUCTURES Elmworth GAS AS ING INCRE BILITY EA PERM WATER Kaybob TRANSITION ZONE WATER Kakwa GAS Gas INCREAH…
  17. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 17
    Peytos Assets Multi Zone Stacked Sandstone Reservoirs PEYTO Exploration & Development Corp. Detailed Petrophysical work on the Spirit River sands revealed 30% more reserves per section Up to per section* 18…
  18. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 18
    Peytos Assets Production By Formation PEYTO Exploration & Development Corp. 100,000 90,000 80,000 70,000 38% 60,000 BOE/D Wilrich 50,000 40,000 15% Notikewin 30,000 22% Falher 20,000 12% 10,000 Cardium 7%…
  19. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 19
    Peytos Assets Deep Basin Lands Go A Long Way PEYTO Exploration & Development Corp. 500 Peyto Lands 438 450 Net Lands (000's acres) 400 350 300 250 200 150 Net Peyto Sections 100 50 - Net Sections of Cardium,…
  20. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 20
    Peytos Assets 3-Dimensional Land Base Holds Large Potential PEYTO Exploration & Development Corp. Cardium (357,618 net acres) 9.5% of land developed in 466 Vt/Hz producers (70 acres/well) 4.4% of land booked in 176 Hz locations…
  21. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 21
    Peytos Assets Large Hz MSF Inventory PEYTO Exploration & Development Corp. To Do Done1 Total Total Hz Hz Locations Total Total Locations Unbooked Vertical Hz Booked* Wells Wells 31 432 72 176 387 5 1 5 13 1 20 14 90…
  22. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 22
    Peytos Assets Spirit River Group Potential Land Expiries PEYTO Exploration & Development Corp. AB Land Sales 5 yr Term 6,000,000 5,000,000 24 Month Expiries 4,000,000 Earliest Expiry Date 3,000,000 out to 2016-12-31 2,000,000…
  23. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 23
    Peytos Assets Greater Sundance Area PEYTO Exploration & Development Corp. FF FF FCFCAF A AF FF AF AG F36 A G 36L F A AF A36FC31F GAF GCF AF AF AF AFFC36A FA31FAF AF AF AF F A CF AF FAFAFF AF AF A36FAF A31FAF F AF W FAF AF A LKG36K…
  24. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 24
    Peytos Assets Brazeau River Area PEYTO Exploration & Development Corp. G F V V U F K U J M L E F VF F S V E E E UF F GG L F U G F K GKAE F F VV E G GA E JS E E E FA KG JGA WM C Keyera E Brazeau G FG F FC U KC F FA G GVV F…
  25. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 25
    Peytos Assets Facility Ownership and Control PEYTO Exploration & Development Corp. R9 R4W6 R26 R21 R16 R11 R6W5 Cutbank Waskahigan W Chicken T60 W Smoky/Kakwa Cutpick Leland/Berland Oldman North T55 Wildhay W W Nosehill W…
  26. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 26
    Peytos Assets Deep Gas Drilling Royalty Incentives PEYTO Exploration & Development Corp. 3,500-4,000 m MD Trigger depth for Natural Gas Deep Drilling Program 2,200 m reduced from TVD 2,500m TVD to 2,000m TVD 3,700-4,000 m…
  27. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 27
    Peytos Assets Lowest Operating Costs Gas Producers PEYTO Exploration & Development Corp. How We operate Full facilities No water No sour Chemical recycle Nat gas fuel Continuous innovation Flat for 8 yrs 28 BOE…
  28. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 28
    Peytos Incredible Returns PEYTO Exploration & Development Corp.
  29. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 29
    Peytos Returns Returns Driven Organic Activity PEYTO Exploration & Development Corp. 90,000 80,000 2014 70,000 60,000 Boe/d 50,000 40,000 Net Capital (after NOI) to PV5 30,000 20,000 10,000 0 2014 Capital Program…
  30. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 30
    Peytos Returns Focus on Returns Drives Capital Discipline PEYTO Exploration & Development Corp. 2014 - 16,800/boe/d 90,000 2013 - 15,100/boe/d 900 2012 - 17,600/boe/d ONR Acq - 38,600/boe/d Annual Production Wedge (boe/d)…
  31. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 31
    BT IRR (%) -50 -40 -30 -20 -10 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 03/02-32-054-21W5/0 02/04-13-055-22W5/0 00/04-26-053-20W5/0 00/13-13-055-22W5/0 00/01-08-055-21W5/0 02/02-03-054-20W5/0…
  32. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 32
    Peytos Returns High Returns On Your Capital And Equity PEYTO Exploration & Development Corp. 60% 10 50% 8 40% 6 30% 16 yr Average ROE 4 19% 20% 13% 10% 2 0% 0 Return On Capital Employed (%) Return On Equity (%)…
  33. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 33
    Peytos Returns Shareholder Returns = NAV Growth + Income PEYTO Exploration & Development Corp. 60 Cum Div/Dist P+P 50 PV5 debt adj./share TP 40 PDP 30 20 10 Compound Annual - Growth Rate (15 yr) 34 PV5…
  34. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 34
    Peytos Returns Stress Testing Low Commodity Prices PEYTO Exploration & Development Corp. Sundance/ Obed/Pedley/ Sundance Sundance/ Sundance Ansell Sundance Brazeau Species Nosehill Upper Edson Cardium Middle Bluesky Wilrich…
  35. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 35
    Peytos Future PEYTO Exploration & Development Corp.
  36. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 36
    2015 Outlook More for less PEYTO Exploration & Development Corp. Drill 130 Gross Hz Wells (100% Hz-MSF, Liquids Rich Natural Gas) Expand & Extract Increase Processing Capacity & NGL Yield 120 mmcf/d Increase Undeveloped Land…
  37. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 37
    2015 Outlook Drill Our Way To 100,000 BOE/D PEYTO Exploration & Development Corp. 3% annual yield 120,000 +25%/sh CAGR growth 96,000-100,000 120,000 28% CAGR total return boe/d exit over last 5 years 100,000 85,700 boe/d exit…
  38. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 38
    2015 Outlook Continuously Improve Profitability PEYTO Exploration & Development Corp. 2015 Goals* 20% service cost reduction Drilling off season PDP FD&A…
  39. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 39
    Peytos Future Where to from here PEYTO Exploration & Development Corp. 150,000 120,000 boed 96,000-100,000 boed 100,000 13,000 /boe/d BOED 13,500 /boe/d 17,500/boe/d 16,800/boe/d 50,000 17,300/boe/d…
  40. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 40
    Appendix PEYTO Exploration & Development Corp. N Quarterly Track Record N Tax Pools N Payout N Hedging Strategy N Gas Marketing N Liquids Marketing N FAQ 41 4/22/2015
  41. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 41
    Quarterly Track Record PEYTO Exploration & Development Corp. 2014 2013 2012 Total Q4 Q3 Q2 Q1 Total Q4 Q3 Q2 Q1 Total Q4 Q3 Q2 Q1 Operations Production Oil & NGLs (bbl/d) 7,632 8,077 7,502 7,568 7,375 6,376 6,984 6,295 6,374 5,840…
  42. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 42
    Organic Business Model Peytos Tax Pools PEYTO Exploration & Development Corp. 1,800 1,600 1,400 1,200 Federal Tax Pools Millions 1,000 800 Q4/14 600 400 200 - 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009…
  43. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 43
    Peytos Payout Dividend Sustainability PEYTO Exploration & Development Corp. Peyto Dividend Sustainability 2,000 1,800 1,600 1,400 1,200 Peyto Cum. Earnings 1,000 Q4/14 800 600 400 200 0 Q1 2000 Q3 2000 Q1 2001 Q3…
  44. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 44
    Successful Hedging Strategy Peyto Realized Price History PEYTO Exploration & Development Corp. 2003 2004 2006 2010 2013 2014 16.00 2005 2007 2008 2009 2011 2012 Peyto Peyto Peyto Peyto Peyto Peyto Peyto Peyto Peyto Peyto Peyto…
  45. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 45
    Gas Marketing Future Sales (1 of 3) PEYTO Exploration & Development Corp. Financial Hedges - Gas Pricing 2013 2014 2015 2016 Da te contra cte d GJ/d (/GJ) N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O…
  46. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 46
    Gas Marketing Future Sales (2 of 3) PEYTO Exploration & Development Corp. Financial Hedges - Gas Pricing 2013 2014 2015 2016 Da te contra cte d GJ/d (/GJ) A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J…
  47. APRIL 2015 CORPORATE PRESENTATION – Peyto Exploration & Development Corp – slide 47
    Gas Marketing Future Sales (3 of 3) PEYTO Exploration & Development Corp. Financial Hedges - Gas Pricing 2013 2014 2015 2016 2017 Da te contra cte d GJ/d (/GJ) N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O…

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