POSITIONED FOR LONG TERM SUSTAINABILITY TSX: SGY MAY, 2015
Q1 2015 HIGHLIGHTS Record average production of 20,585 boe per day Achieved record average production in Q1/15 of 20,585 boe/d - despite sale of Viking assets (over 500 boepd), and significantly reduced capital spending Drilled…
SURGE ENERGY PROFORMA SE SASK/MANITOBA SALE Well positioned to reallocate capital Total Proved plus Probable Reserves of 86.7 mmboe Production 14,250 boepd (77% oil) Low Decline of 23% (RLI 15 years) Net Debt(e): 122MM proforma…
REASONS TO OWN SURGE 100% Operated, high quality, low decline asset base High quality light/medium crude oil asset base; low…
ELITE ASSETS FOCUSED IN THREE CORE AREAS Large OOIP pools located in established oil charged trends Surge Production: Total: 14,250 boe/d (77% Oil & NGLs) Western Alberta Production: Total: 7,750 boe/d (66% Oil & NGLs) SE…
CORE AREA DETAILS 1.5 Billion bbls net OOIP with potential to recover an additional 190 Million bbls net to Surge OOIP (MMbbls) Drilling Locations Avg. CTD(1) Oil Total Booked Independent (1) Internally Estimated Ultimate Core…
TOP TIER CAPITAL EFFICIENCIES AND REPLACEMENT METRICS Large opportunity base allows for selective and efficient capital allocation (1) Areas/Formations Rates of Return % Capital Drill/ Complete/ Mboe/well Core Area 180 day IP…
QUALITY WATERFLOOD PROJECTS Increasing reserves / flattening declines through waterflood implementation Current Properties Under Full Commercial Waterflood Area Formation Start Date 2014 Decline Current RF Booked RF Expected RF…
SOUTHWEST SASKATCHEWAN - SHAUNAVON 450MM barrels of net OOIP in the Upper and Lower Shaunavon combined 450 MMbbls of net OOIP in the Lower and Upper Shaunavon formations (medium gravity oil) Current recovery factor 1.0% Rates of…
UPPER SHAUNAVON Large contiguous undeveloped land position in the Upper Shaunavon trend R21W3 R19W3 Area/Pool Well Count Depth OOIP Cum Oil Peak Rate Current Rate T10 Instow Vt Hz (m) (MMbbl) (MMbbl) (bbl/d) (bbl/d) Leitchville…
UPPER SHAUNAVON ACTIVITY 250MMbbl OOIP on Surge lands in the Upper Shaunavon R20W3 R19W3 R18W3 CPG U. Shvn Hz T7 191/13-20-006-19W3 On Prd Mar 2011 IP(90) = 109 BOPD Cum(YTD) = 24.5 mbbl Upper Shaunavon A Sand SGY Q4 14…
UPPER SHAUNAVON PERFORMANCE Surge results in the Upper Shaunavon exceeding expectations Upper Shaunavon - SGY Results vs Type Curve 250 SGY Wells Normalized Rate (bopd) - 10 wells Production Rate (bopd), Cumulative Oil Production…
SHAUNAVON DEVELOPMENT PLAN Increased cashflow and recovery through drilling and early waterflood implementation FOOTNOTES INCLUDED IN THE BACK AS ENDNOTES 13
NORTHWEST ALBERTA Large OOIP 700MMbbls in concentrated high quality light oil assets Large OOIP of 700 (625 net) MMbbls of high quality light Valhalla oil (32-40 API) OOIP: 228 mmbbl (195 mmbbl net) Nipisi OOIP: 155 mmbbl (150…
NORTHWEST ALBERTA - VALHALLA 195MMbbls net OOIP in oil rich Doig and Doe Creek formations Valhalla Doig 130 MMbbls of net combined OOIP on Surges Valhalla Doe Creek and Wembley Lands (40 degree API light oil) Oil Pool Rates of…
SOUTHEAST ALBERTA - SPARKY Provost / Eyehill / Wainwright areas Oil saturated Cretaceous sands Wainwright 400 MMbbls of net OOIP (23-31 degree API oil) Current recovery factor of 15% Current production: 3,900 boe/d Eyehill…
RISK MANAGEMENT / HEDGING STRATEGY Oil Hedges The Company has an orderly, on-going, 6,000 risk management / hedging program 89.00 designed to lock in future cash flows to protect the Companys capex program 84.00 and fund…
2014 YEAR END RESERVES 1.4 Billion of Total Proved plus Probable Reserves Value (NPVBT10) 2014 Year End Reserves Proforma SE Sask/MB Disposition Oil& NGLs Gas Total Reserve Category NPVBT10 (MM) (1) (Mbbl) (MMcf) (Mboe) Proved…
POSITIONED FOR LONG TERM SUSTAINABILITY Low base…
HIGH QUALITY CRUDE OIL ASSET BASE Focused, high quality, crude oil asset and opportunity base; 3 core areas are 100% operated, with working interests of 90% Elite, large OOIP crude oil reservoirs with low recovery factors; 15…
ANALYST COVERAGE Financial Institution Analyst Email Address BMO Capital Markets Jim Byrne jim.byrnebmo.com Canaccord Genuity Anthony Petrucci apetruccicanaccordgenuity.com CIBC World Markets Inc. Jeremy Kaliel jeremy.kalielcibc.ca…
CORPORATE PARTNERS Advisors National Bank of Canada Bank of Nova Scotia Canadian Imperial Bank of Commerce Toronto-Dominion Bank Bankers: Bank of Montreal ATB Financial HSBC Bank Canada Wells Fargo Goldman Sachs Auditor: KPMG…
ENDNOTES Slide 3: (1) Based on April 23rd strip pricing. Slide 6: (1) December 31, 2014 reserves. Slide 7: (1) Assumes CAD/USD exchange rate of 0.83 for 2015 and Sproule December 31, 2014 price forecast for 2016 and after. (2) Assumes…
NON-GAAP MEASURES NON-GAAP MEASURES This presentation includes non-GAAP measures as further described herein. These non-GAAP measures do not have a standardized meaning prescribed by International Financial Reporting Standards (IFRS…
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