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May 2015 Annual General Meeting – Bonterra Energy Corp

Bonterra Energy Corp · May 21, 2015 · 21 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. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 1
    BONTERRA ENERGY CORP. MAY 2015 AGM YIELD GROWTH SUSTAINABILITY
  2. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 2
    CURRENT SNAPSHOT CORPORATE PROFILE Shares outstanding 32.1 million Market capitalization 1.22 billion Insider ownership 12% Current monthly dividend 0.15 per share Current annualized yield(1) 4.8% Oil and liquids weighting Q1 71% (6%…
  3. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 3
    FINANCIAL RESULTS HIGHLIGHTS Q1 Year Q1 (000s except per share amounts) 2015 2014 2014 Funds Flow 22,090 209,665 54,414 Per share basic 0.69 6.57 1.73 Payout ratio 87% 54% 50% Cash from other sources 0 39,500 12,889 Cash Dividends per…
  4. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 4
    CASH FLOW SENSITIVITIES Per Annum Cash Flow Sensitivity Analysis(1) (estimate for 2015) Cash Flow(3) Per Share(2) Change of U.S. 1.00 per barrel of oil and NGLs 2,880,000 0.09 Change of Canadian 0.10 per MCF of natural gas 713,000…
  5. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 5
    DIVIDEND HISTORY 0.40 0.35 0.30 0.30 0.29 0.28 0.26 0.25 0.24 0.22 0.21 0.20 0.18 0.16 0.16 0.15 0.15 0.14 0.12 0.10 0.05 5
  6. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 6
    INCREASING SHAREHOLDER VALUE Reserves per Share Reserves Profile (boe per share) (Proved plus Probable) (Proved plus Probable) 29% Natural Gas 71% Oil/NGLs 80,248 74,981 2009 2010 2011 2012 2013 2014 Gross Reserves…
  7. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 7
    INCREASING SHAREHOLDER VALUE Production per Share Production Profile (boe per share) 29% Natural Gas 71% Oil/NGLs 13,195 12,190 2009 2010 2011 2012 2013 2014 Gross Production (boe per day year over year growth) 6,703…
  8. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 8
    PEMBINA CARDIUM ORIGINAL OIL IN PLACE PER SECTION RECOVERY FACTOR 0 to 5,000 Mbbl 0% 5,000 to 10,000 Mbbl 5% 10,000 to 20,000 Mbbl 10% 20,000 to 25,000 Mbbl 15% 25,000+ Mbbl 20% 25% KEY CHARACTERISTICS Pembina is the…
  9. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 9
    CARDIUM LANDS LAND Average working interest 76% Bonterra operates 88.5% of its total production Reserve life index (Proved) 11 years Reserve life index (P+P) 16 years Reserves (P+P) 93.3 MBOE Land position 292 gross (201…
  10. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 10
    PEMBINA ACQUISITION R11 R10 R9 R8 R7 R6 R5W5 DEAL RATIONALE Pembina Cardium Tuck-In T51 Operational Synergy / Facility Consolidation T50 1,800 Boe/d 86% Oil & NGLs T49 7% Decline Reserves (Proved) 9,861 MBOE T48 Reserves…
  11. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 11
    2015 AVERAGE PRODUCTION Base Enerplus 2015 Capital On Prod Q1 2015 Capital Deferred to Q2 2015 AVERAGE PRODUCTION 16,000 2015 Capital 10 Additional Wells ESTIMATE (BOE/D) Base Production 9,973 14,000 9 Gross (7.4 Net) Wells On…
  12. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 12
    DEFERRED COMPLETIONS RATIONAL Bonterra deferred completions on 8 Gross (7.4 Net) wells from Q1 to Q2 as a result in the drop of Realized Canadian Oil pricing. The 20.95/bbl increase in Realized Canadian Oil price from January 2015 to…
  13. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 13
    DRILLING INNOVATION Transition from intermediate casing design to monobore design Advances in bit technology 13
  14. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 14
    COMPLETION INNOVATION TRANSITION FROM OPEN HOLE TO CASED HOLE Increased recovery Accurate and even placement of fracs Increased number of fracs per well. Reduced costs per cemented frac in 2015 Packers Cemented 2015 Cemented…
  15. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 15
    PEMBINA CARDIUM DEVELOPMENT CONVENTIONAL VERTICAL DEVELOPMENT 4 vertical wells Estimated ultimate oil recovery: 378,000 Bbl Recovery factor: 3.2% 8 HZ WELLS* PER SECTION DEVELOPMENT Estimated ultimate oil recovery: 1,178,000 Bbl…
  16. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 16
    PEMBINA CARDIUM DEVELOPMENT SECTION 13-048-06W5 Original Vertical Wells Horizontal Infill Wells 1,000 100 Recovery Factor = 10.3% BOPD 10 Recovery Factor = 3.2% 1 Jan10 Jan15 Jan20 Month 16
  17. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 17
    AVERAGE BNE CARDIUM ECONOMICS BNE AVERAGE HZ METRICS 300 Total capital costs per well (MM) 2.6 2.2 Reserves per well (MBOE) 165 165 IP (1 month) (boe/d) 255 255 250 IP (12 months) (boe/d) 124 124 Internal rate of return (% BT) 71…
  18. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 18
    CARDIUM LOCATIONS Total Inventory Booked Locations Area Name Avg WI% Gross Net Gross Net CYNTHIA 80.0% 2.5 2.0 2.0 1.6 BLUE RAPIDS 72.7% 79.5 57.8 9.0 6.8 KEYSTONE 97.5% 152.0 148.2 105.0 102.3 CARNWOOD 90.9% 180.0 163.6 75.0 71.7 ROSE…
  19. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 19
    CURRENT RESERVES CURRENT RESERVES (INCL. ENERPLUS) PDP TP TPP Oil (Mbbl) 29,336 49,007 62,950 Sales Gas (Mmcf) 61,191 114,209 146,830 Liquids (Mbbl) 2,425 4,615 5,866 Total (MBOE) 41,959 72,656 93,288 Product Mix Oil Gas Liq…
  20. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 20
    RESERVES INTERNAL ESTIMATE FULL DEVELOPMENT - INTERNAL ESTIMATED RESERVES PDP* Op Upside Non-Op Upside TOTAL Oil (Mbbl) 30,235 70,631 5,953 106,819 Sales Gas (Mmcf) 72,830 286,973 21,127 380,929 Liquids (Mbbl) 3,112 14,166 1,043 18,321…
  21. May 2015 Annual General Meeting – Bonterra Energy Corp – slide 21
    CORPORATE INFORMATION BOARD OF DIRECTORS BANKERS G. J. Drummond CIBC, Calgary, Alberta G. F. Fink National Bank of Canada, Calgary, Alberta R. M. Jarock J. P. Morgan, Calgary, Alberta C. R. Jonsson TD Securities, Calgary, Alberta R. A.…

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