Canbriam Energy Inc. RESOURCE. INNOVATION. COLLABORATION. September 2014
Canbriam Energy: corporate overview Overview Asset map Private company started in 2007 and focused on the prolific Montney formation in Northeast BC 2014E production 10,000 boe/d (20% liquids) Canbriam has de-risked an inventory…
A focused, liquids-rich Montney growth company Resource. Differentiated Montney resource with unique geology Liquids-rich (50% of 61,000 net acres) Large low-risk, high return drilling inventory Favorable operating environment…
Experienced Management team has a track record of value creation Years Deep industry experience Paul Myers 25+ President, CEO Robert Froese 25+ CFO John Nieto 35+ EVP, Sub-surface Gary Gardiner 30+ EVP, Operations…
Montney: significant well density & offset peer activity Petronas/Progress -Town Montney Wells 12 miles Canbriam Shell Progress/Petronas ARC Encana CNRL Murphy Suncor Painted Pony Black Swan Unconventional Gas…
Operating environment supportive for development Attractive fiscal regime in BC Drilling credits & minimal retention drilling Supportive First Nations Accessible to service hub (Fort St. John) Spectra T North Gas Plant Canbriam…
Canbriam: unique geology within prolific Montney resource Total Montney thickness 1,100 ft Key attributes of Canbriams Montney asset: Tested zones Significant thickness could ultimately result in three or four resource play…
Significant reserve growth with high liquids content Reserve evaluation conducted by GLJ Petroleum Consultants as of December 31, 2013 (1) Summary of Gross Reserves as of 12/ 31/ 2013 (2) Category Natural Gas (Bcf) NGLs (MMbbls)…
Large drilling inventory supports low-risk production growth Well inventory (net) +34 years of upside 18 years of economic drilling inventory 36 wells / year drilling inventory 1,687 1,001 686 198 395 40 93 28…
Stable production history with strong liquids content LTM Production* 60 50 40 mmcf/d Gas 30 20 10 0 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Inlet Separator b-24-H Plant…
Downhole choke strategy has improved decline rates Advantages of using downhole chokes Altares c-B27-H Upper Montney Manages 1st year production declines 15.0 30.0 Gas rate inline and fosters stable production 14.0 28.0 Casing…
Actual well production has exceeded type curves Upper Montney (Mcf/d) Lower Montney (Mcf/d) 8,000 GLJ type curve range 8,000 GLJ type curve range Canbriam actuals Canbriam actuals 7,000 Canbriam type curve 7,000 Canbriam type…
Canbriam has some of the highest EUR wells in the Montney Total Estimated Ultimate Recoverable (EUR) development wells (Bcfe) Main Fault Block North Fault Block Upper Montney Lower Montney Upper Montney 13.2 GLJ (2P, 2012YE) GLJ…
Strategies to enhance operational performance 1. Small footprint 3. Limited entry slickwater frac completions Pad drilling minimizes surface Surface disturbance and lowers D&C costs Surface per well Casing (250- Isolation Perf 500m)…
Infrastructure strategy supports development & lowers costs 100% owned and operated Infrastructure Altares facilities Processing facilities b-24-A facility: 50 MMcf/d raw capacity online South Altares: 10 MMcf/d dehy & compression…
Strong well economics and liquids-rich asset base Comparison of Main Fault Block type wells versus actual development well performance. Represents 87% of near term drilling Main Fault Block Type Wells Actual Production Upper…
Key investment highlights Prolific EUR/well with 1,100 of Montney vertical thickness on 61,000 (50% liquids rich) net acres Prolific Montney 46.3mmboe of gross 1P Reserves (pre-tax PV10 of 510 million)(1) asset 110 mmboe of gross 2P…
Supplemental information RESOURCE. INNOVATION. COLLABORATION.
Montney depositional model Montney sediment source is a combination of perennial and ephemeral rivers, and aeolian processes Town depocenter transported down-slope via submarine fans Fort St. John The combination of the above high…
Completions costs have declined over time 1,074 000s/Stages 000s per 778 770 763 751 Stage 678 667 622 573 568 555 527 478 461 408 419 352 364 364 373 339 326 312 305 277 262 Number of Stages 7 7 8 10 9 9 10 10 8 8…
Well performance has exceeded type curves Daily raw gas production - Montney development wells (9 upper, 2 lower) b-A24-H 10,000 b-B24-H 9,000 c-23-H c-27-H 8,000 b-34-H 7,000 c-A64-H NFB Daily Gas Rate (mcf/d)…
Scalable infrastructure designed for efficient development Permitting Construction Commissioning OGC permit received May, 2014 Construction currently underway Planned start-up Q1 2015 for b-72-A Refrig plant - Civil construction…
RESOURCE. INNOVATION. COLLABORATION. Canbriam Energy Inc. Paul Myers 3500, 450 1st Street SW President & Chief Executive Officer Calgary, AB Canada T2P 5H1 403.718.8550 pmyerscanbriam.com infocanbriam.com Rob Froese Tel:…
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