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April 2015 Corporate Presentation – Bonterra Energy Corp

Bonterra Energy Corp · Apr 30, 2015 · 25 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. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 1
    BONTERRA ENERGY CORP. APRIL 2015 YIELD GROWTH SUSTAINABILITY
  2. April 2015 Corporate Presentation – 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 Q4 71% (6%…
  3. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 3
    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 - 3
  4. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 4
    INCREASING SHAREHOLDER VALUE Production per Share Production Profile (boe per share) 0.147 0.150 0.124 0.119 0.109 29% Natural Gas 0.101 71% Oil/NGLs 13,195 12,190 2009 2010 2011 2012 2013 2014 Gross Production (boe per…
  5. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 5
    INCREASING SHAREHOLDER VALUE Reserves per Share Reserves Profile (boe per share) (Proved plus Probable) (Proved plus Probable) 2.47 2.50 2.28 2.09 2.13 29% Natural Gas 1.99 71% Oil/NGLs 80,248 74,981 2009 2010 2011 2012…
  6. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 6
    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 2,701,000 0.08 Change of Canadian 0.10 per MCF of natural gas 743,000…
  7. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 7
    2015 AVERAGE PRODUCTION Base 2015 Capital - On Prod Q1 Enerplus 2015 Capital - Deferred to Q2 2015 AVERAGE PRODUCTION 16,000 ESTIMATE (BOE/D) Base Production 10,039 14,000 9 Gross (7.4 Net) Wells On Prod Q1 583 Enerplus…
  8. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 8
    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/bbl increase in Realized Canadian Oil price from January 2015 to May…
  9. April 2015 Corporate Presentation – 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. April 2015 Corporate Presentation – 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. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 11
    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…
  12. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 12
    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…
  13. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 13
    PEMBINA CARDIUM DEVELOPMENT SECTION 13-048-06W5 Original Vertical Wells Horizontal Infill Wells 1,000 100 BOPD Recovery Factor = 10.3% 10 Recovery Factor = 3.2% 1 Month 13
  14. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 14
    AVERAGE BNE CARDIUM ECONOMICS BNE AVERAGE HZ METRICS 300 Total capital costs per well (MM) 2.6 Reserves per well (MBOE) 165 IP (1 month) (boe/d) 255 250 IP (12 months) (boe/d) 124 Internal rate of return (% BT) 71 200 Payout…
  15. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 15
    CARDIUM LOCATIONS Unbooked 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…
  16. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 16
    CURRENT RESERVES CURRENT RESERVES 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 6% 26%…
  17. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 17
    RESERVES FULL DEVELOPMENT 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 Total (MBOE) 45,486 132,626…
  18. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 18
    PEMBINA CARDIUM DEVELOPMENT 13 12 11 10 9 8 7 6 5 4 3 2W5 51 50 49 48 47 46 45 18
  19. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 19
    CARNWOOD AREA Drilled 2015 Completions 2015 Drills Potential locations Sections: 38 gross (35 net); Locations (6 to 8 wells per section): 300 gross (280 net) 19
  20. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 20
    WHY INVEST IN BONTERRA QUALIFIED AND EXPERIENCED STAFF SUSTAINABLE FOCUS ON PER DIVIDEND SHARE GROWTH LARGE INVENTORY CONCENTRATED BONTERRA OF HIGH QUALITY ASSET BASE DRILL LOCATIONS FOCUS ON GOOD ACCESS TO TECHNOLOGICAL…
  21. April 2015 Corporate Presentation – 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.…
  22. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 22
    APPENDIX 22
  23. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 23
    DRILLING INNOVATION Spud to Rig Release Normalized to 3,000m MD 20 15 DAYS 10 5 0 2008 2009 2010 2011 2012 2013 2014 2015 YEAR Transition from intermediate casing design to monobore design Advances in bit…
  24. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 24
    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 frac Packers Cemented 100,000 90,000 80,000 70,000…
  25. April 2015 Corporate Presentation – Bonterra Energy Corp – slide 25
    PAD DEVELOPMENT ADVANTAGES ASSEMBLY LINE DEVELOPMENT Concentration of activity that dramatically increases capital efficiencies and minimizes surface disturbance 25

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