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CORPORATE PRESENTATION – Nuvista Energy Ltd.

Nuvista Energy Ltd. · Mar 10, 2014 · 32 slides

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Slides

  1. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 1
    CORPORATE PRESENTATION March 2014 All amounts in Canadian dollars unless indicated otherwise March 2014
  2. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 2
    NuVista Overview Focused profitable growth with long line-of-sight 1. Focus of growth in Wapiti area of Alberta condensate-rich Montney Operating areas 2. In early development phase with rapidly WAPITI increasing well data GRANDE…
  3. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 3
    Corporate Strategy Disciplined approach Capital Expenditures 1. Focused on condensate-rich Wapiti Montney 300 90% of 2014 capital expenditures in Wapiti 200 Million 2. Profitable growth 100 Cash flow/share growth…
  4. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 4
    2014 Business Plan Development, infrastructure, and delineation 1. Focus on Repeatable Development Drilling 70% of wells in condensate-rich Bilbo Area Evaluation of recent record-high results in Elmworth (North) and Bilbo (South)…
  5. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 5
    Alberta Condensate-Rich Montney tremendous potential for profitable growth 1. Scalable and Repeatable Play 113,000+ net acres (179 net sections) Potential for 3 layers of development at 4 wells/section per zone 577 locations and 2.6…
  6. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 6
    The Alberta Condensate-rich Montney Industry players and NVA liquids driving the surge in activity A lot of well data is coming Elmworth to Kakwa Montney HZ Activity Update High and growing level of industry activity 200 industry wells…
  7. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 7
    NuVista Wapiti Montney Our activity and landholdings Increasing Activity 18 wells on production in early T69 2014 more than triple YE 2012 Elmworth Project Up to 7 more wells being tied-in Development into break-up Area T68 2014…
  8. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 8
    Contingent Resource / 2P Reserves Significant delineation of resource and conversion to reserves in 2013 Middle Montney 'C' Middle Montney 'B' CR: (85 sections 45% of current net acres - 263 Locations (Gross) CR: 101 sections - 54% of…
  9. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 9
    Bilbo Project Development Area All locations no more than 1 mile from existing proven typecurve producers 100* total locations in development area Trend of improving typecurve *Unrisked assuming 4 wells/ zone/ section, 80% land…
  10. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 10
    Montney Performance South Block (Bilbo) Condensate 75 Bbls/MMcf 2,000 10 Continue to see strong condensate 2013 Field Netback 1,600 yield 75 Bbls/MMcf 8 50 40 Transportation Royalty /Boe 30 31.46 Producing Well…
  11. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 11
    Elmworth Project Development Area All locations no more than 1 mile from existing proven typecurve producers 100 Total Locations identified within development area Typecurve increased from 4.4 Bcf to 6.0 Bcf Unrisked assuming 4…
  12. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 12
    Montney Performance North Block (Elmworth) Condensate 45 Bbls/MMcf 2,000 10 Increasing typecurve to 6.0 Bcf based on recent well due to frac design 2013 Field Netback and industry data 1,600 8 50 40 Transportation Production…
  13. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 13
    Montney D&C - Drilling Reduced drilling time and costs Drilling Times Steady progress reducing drilling times Days versus Depth and drill cost per meter 0 500 Steady progress 1,000 reducing drilling Transitioning to drilling longer…
  14. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 14
    Montney D&C - Completions Focused on optimizing recovery NuVista's completion process Open-hole completion with ball-drop frac technology Large volume slickwater fracs Longer laterals with more frac intervals Manage risks of greater…
  15. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 15
    Wapiti Montney Egress Access to short and medium term egress T71 NuVista (50%) Compressor Station CNRL Gold Creek Plant NuVista (100%) Paramount Compressor Station Compressor Station Raw Nat. Gas - 80 MMcf/d Condensate…
  16. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 16
    Wapiti Montney Egress and still more options for the long term Loop pipeline & add compression to existing SemCAMS K3 gas plant T71 NuVista (50%) Potential for new Wapiti gas plant in Compressor Station area CNRL Gold Creek…
  17. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 17
    Wapiti Montney Processing Capacity Drill-to-Fill for staged growth with guaranteed capacity and flexibility Raw Gas Processing Capacity 120 Capacity Ramp 2: Capacity Ramp 3: Capacity Ramp 1: Press released in February Keyera…
  18. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 18
    Line-of-Sight to Future Growth Increasing production + increasing netback Production ('000 Boe/d) Corporate Netback 2 30 NVA CF Netback (/BOE) Montney as a % of Total Prod 30 Flat '14/15 despite Strip 100% 25 backwardation…
  19. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 19
    NuVista: Looking Forward The corner has been turned Now we grow Focused, repeatable and profitable Costs falling, condensate rising, completions improving Two Project Development Areas define certainty Elmworth (N.) Development block…
  20. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 20
    APPENDIX March 2014 20
  21. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 21
    Commodity Price Risk Management WTI Oil we are well hedged Crude Oil Hedge Position 3,500 105.00 3,000 100.00 Hedged Volume, Bbl/d 2,500 Price, C/Bbl 95.00 2,000 1,500 Floor C WTI price of approx. 90.00 94.59/Bbl…
  22. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 22
    Commodity Price Risk Management AECO natural gas hedging in good shape Natural Gas Hedge Position 90,000 4.00 80,000 3.50 70,000 Hedged Volume, GJ/d 3.00 60,000 Price, C/GJ 2.50 50,000 2.00 40,000 1.50 30,000…
  23. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 23
    Condensate Pricing Strong demand and premium price for the long term Condensate is used in Alberta as a diluent to ship heavy oil on pipelines Condensate in Alberta is typically priced at a premium to C WTI and Edm Par crude oil…
  24. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 24
    2013 Operating and Financial Results Understanding the financial power of the condensate-rich Montney 2013 Field Netbacks Montney 2013 Field Netbacks 35.00 Elmworth Bilbo 35 31.19 32.03 30.35 30.00 28.12 30 27.41 25.75 24.90 25.38…
  25. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 25
    Montney Economics Two Development Blocks Established with Improved Returns Original 2013-14 Bilbo Development Elmworth Development Dev Well Target* c3, 5 c3, 5 c4, 8 c4, 8 c5+, 45 c5+, 45 75 Inputs Inputs Inputs Inputs…
  26. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 26
    Montney Performance All Wells N&S Combined Exceeding original typecurve (Now up to 18 wells with history) 2,000 20 Typecurve Yields All-well CTD Actual Yields (Shallow Cut) (Shallow Cut) 50 Bbls/MMcf 82 Bbls/MMcf 1,600 Newest wells…
  27. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 27
    Montney IP30's Increasing condensate volumes Well IP30* Cumulative to date** Feb. 23, 2014 CGR Cumulative Total Raw Gas Condensate Total Sales CGR Bbl/MMcf Condensate Days on Prod. Bbls/MMcf Sales Gas (MMcf/d) (raw/C5+) (MBbls)…
  28. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 28
    Advancing the Wapiti Montney Plan The track record to date 2011 2012 2013 NVA Producing Horizontal Wells 1 5 16 (Cumulative) Rigs Drilling 0-1 1-2 2-3 Annual Production 281 1,265 4,650 (Boe/d) 2P Reserves* 12 MMBoe 29 MMBoe…
  29. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 29
    Resource Study Summary* Contingent Resources doubled Sept. 2012 to Sept. 2013 100 million Bbls recoverable condensate and counting Discovered Petroleum Initially-In-Place(1) * See Appendix for Cumulative Production(2) 0.01 Tcfe…
  30. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 30
    2013 Reserves Report Montney begins to dominate and show scale it's only the beginning 2013 Year Reserves Report - GLJ Petroleum Consultants Ltd. Montney 2P reserves volume increased by 195% for recycle ratio of 2.3x Corporate 2P…
  31. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 31
    Wapiti Montney Geological characteristics of a world class resource play Scalable/Repeatable Thick Formation Deposition on the shelf edge - not isolated pockets 150 200 metres Gas charged top to bottom At least 3 developable layers…
  32. CORPORATE PRESENTATION – Nuvista Energy Ltd. – slide 32
    Focus on Wapiti Our lands contain the Montney with the bonus of significant Deep Basin uphole potential CARDIUM Acres 000's Nikanassin Dunvegan MONTNEY Cadomin Cardium Falher FAIRWAY DUNVEGAN CADOTTE…

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