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May 2015 Annual General Meeting – Twin Butte Energy Ltd.

Twin Butte Energy Ltd. · May 15, 2015 · 22 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 – Twin Butte Energy Ltd. – slide 1
    Annual General Meeting May 15 15, 2015 Disciplined Dividend Company Positioned To Succeed TSX: TBE www.twinbutteenergy.com
  2. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 2
    Corporate Snapshot Deliver 10%+ average annual return (income and growth) Basic B i shares h 353 MM Fully diluted 366 MM Insiders own - Basic / FD 3.2 /4.5% Share price (as at May 14, 2015) 0.85 Market cap 300 MM Net Debt 334…
  3. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 3
    2015 Key Priorities Maintain and Enhance Balance Sheet Flexibility Maintain financial discipline (Total…
  4. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 4
    2015 Key Priorities - Q1 Update Maintain and Enhance Balance Sheet Flexibility Maintain financial discipline (Total…
  5. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 5
    The Facts - Transition Scorecard Q1 Operational Results - Quality Focus Transition score sheet Q1 2015 Q1 2014 Change Focus on value and sustainability over short Production (boe/d) 19 158 19,158 22 529 22,529 -3,371 3 371 term…
  6. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 6
    Transition Scorecard Q1 Financial Results Prudence, Discipline Q1 2015 Q1 2014 Change Field Netback (per ( boe)) 11.65 37.43 -25.78 Lower revenue overshadows cost structure improvements Hedging (per boe) 24.81 -8.71 33.52…
  7. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 7
    2015 Guidance Update 2015* May Update 2015 December Forecast** Average Production (boe/d) 17,500 19,100 Liquids Production (%) 90 90 Capital expenditures (net MM) 100 120 Cash Dividend ( (MM)) 42 42 Dividend per share 0.12…
  8. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 8
    Hedge Book Support Oil Hedging Reduces Cash Flow Volatility 14,000 84.00 12,000 82.00 10,000 80.00 65% bbl/d heedged 67% WCS 8,000 78.00 /bbl W 6,000 76.00 4,000 74.00 37% 37% 2,000 72.00 70.00 Q1 2015…
  9. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 9
    Focused Asset Base 91% of Corporate production in core area…
  10. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 10
    Capital Program Breakdown H1 capital 40-45 MM (Q1 25MM) Annual capital budget decreased Estimated 2015 Capital 20MM in response to low commodity (100 MM) prices Provost 80% of capital Dina/Cummings development 20% Sparky…
  11. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 11
    Provost Medium Oil Core Area Multi-zone potential Expanding land position 100 HZ wells drilled since 2010 March 2015 production 8,950 boe/d Viking 500m Joli Fou Shale Upper Mannville Waseca Sparky Oil prone GP…
  12. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 12
    Provost Inventory Slide not for print 12 TSX: TBE
  13. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 13
    Provost Dina-Cummings G J C G F E G G G G G G R6 G G R5 C G G G R4 G R3 R2 G R1W4 J F G F F K G G G C D E G Extensive well and seismic GG G G G G F G G G K C G G G GJ E G K G K J G F G J L C G G G G G G F GE…
  14. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 14
    Provost Sparky G E E E G G D G EJEIEI EGIJI EI E I I G E I G G R4 J ID K G DG J I G G G G G R3 R2W4 G G G G IEI S IIIIII II JEJ EE E E I E DI G G GJ G GIII D EDG G G GK J G D IJ ED D DH JI G ID D D HJ D EG…
  15. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 15
    Provost - Lithic Channel Play K G DDG G EJ J I JEJ DJJE I J E G EIJJ D D S E H G CHJJE S E J SD D D I ED S G JJEE I D G EJ G G DG S DED E DE J E DD IDDE EE E I E E E I I DS I E IDI D S G DG ED GD E J K GD E GS R4…
  16. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 16
    Lloydminster - Heavy 25 km Frog Lake Short Term Focus - Cost structure reduction - Dropped Heavy area operating and transportation costs from 27.11/boe (Q1 14) Tangleflags to 22.83/boe (Q1 15) Swimming Celtic - Key drivers…
  17. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 17
    Conservative, Disciplined Balance sheet management is a priority. Total payout (dividend and capital) will not exceed cash flow. 2015 capital plan will be adjusted to fit ongoing commodity prices Long term focus on delivering…
  18. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 18
    Appendix 18 TSX: TBE
  19. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 19
    Management and Board Management Rob Wollmann President and CEO Alan Steele Vice President, Finance & CFO David Middleton Chief Operating Officer Claude Gamache Vice President, President Geosciences Gord Howe Vice President, Land…
  20. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 20
    Inventory Provost Average Per Provost Provost Heavy Dina/ Well Estimates Sparky Lithic Horizontals Cummings D,C,E Capital 870 1,040 1,150 1,000 (k) IP365 53 66 66 57 (boed) Capital Efficiency 16,400 15,750 17,500 17,500…
  21. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 21
    Analyst Coverage Company Analyst Target Action Acumen Trevor Reynolds 1.50 Speculative Buy BMO Capital Gordon Tait 1.15 Market Perform Canaccord Genuity Dennis Fong 0.90 Hold CIBC Capital Jeremy Kaliel 1.00 Sector Perform GMP…
  22. May 2015 Annual General Meeting – Twin Butte Energy Ltd. – slide 22
    Positioned Positioned to succeed succeed Rob Wollmann President & CEO rwollmanntwinbutteenergy.com Alan Steele CFO asteeletwinbutteenergy.com gy TSX: TBE www.twinbutteenergy.com 410, 396 11th Avenue SW Calgary, Alberta T2R…

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