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September 2014 Presentation – Bonterra Energy Corp

Bonterra Energy Corp · Sep 1, 2014 · 24 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. September 2014 Presentation – Bonterra Energy Corp – slide 1
    BONTERRA ENERGY CORP. SEPTEMBER 2014 YIELD GROWTH SUSTAINABILITY
  2. September 2014 Presentation – Bonterra Energy Corp – slide 2
    RATE OF RETURN SUPERIOR LONG-TERM RETURNS TO SHAREHOLDERS Combined Share Price Dividend * Based on August 18, 2014 closing price of 62.50 94.63 62.50 32.13 1998 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012…
  3. September 2014 Presentation – Bonterra Energy Corp – slide 3
    PAST FIVE YEAR HISTORY Increased the monthly dividend from 0.12 to 0.30 Increased production from 4,346 BOE/day to 12,964 BOE/day Increased the share price from 17.27 (Jan 1, 2009) to 62.50 (August 18, 2014) Plus 15.54 in…
  4. September 2014 Presentation – Bonterra Energy Corp – slide 4
    HISTORY OF DIVIDEND GROWTH 0.40 0.35 0.30 0.30 0.28 0.29 0.26 0.25 0.24 0.22 0.21 0.20 0.18 0.16 0.16 0.15 0.14 0.12 0.10 0.05 - 4
  5. September 2014 Presentation – Bonterra Energy Corp – slide 5
    YIELD: DIVIDEND CORPORATIONS 9.00% Bonterras strengthened financial and operational position may provide additional yield contraction on a go forward basis 8.00% 7.74% 6.94% 6.96% 7.00% 6.70% 6.55% 6.60% 6.16% 6.00% 5.80% 5.60%…
  6. September 2014 Presentation – Bonterra Energy Corp – slide 6
    CURRENT SNAPSHOT CORPORATE PROFILE Shares outstanding 32.1 million Market capitalization 2.02 billion(2) Insider ownership 15% Current monthly dividend 0.30 per share Current annualized yield(1) 5.6% Oil and liquids weighting Q2 71%…
  7. September 2014 Presentation – Bonterra Energy Corp – slide 7
    FINANCIAL RESULTS HIGHLIGHTS Q2 6 Months Year (000s except per share amounts) 2014 2014 2013 Funds Flow 65,620 120,034 181,574 Per share basic 2.06 3.77 6.01 Payout ratio 42% 46% 55% Cash from other sources (3) 18,583 31,472 32,903…
  8. September 2014 Presentation – Bonterra Energy Corp – slide 8
    GUIDANCE OUTLOOK FIRST HALF YEAR 2013 (000s except per boe amounts) 2014 GUIDANCE 2014 ACTUAL Average production 12,400-12,700 boe/d 12,964 boe/d 12,190 boe/d Operating costs 13.00/boe 13.94/boe(2) 12.77/boe Corporate netbacks…
  9. September 2014 Presentation – Bonterra Energy Corp – slide 9
    PRODUCTION FORECAST Base Spartan HZ Capital Forecast 16,000 14,000 12,000 10,000 BOE/d 8,000 6,000 4,000 2,000 0 Month Note: Capital expenditures for 2015 and 2016 are not included in this chart 9
  10. September 2014 Presentation – Bonterra Energy Corp – slide 10
    CASH FLOW SENSITIVITIES Per Annum Cash Flow Sensitivity Analysis(1) (estimate for 2014) Cash Flow(3) Per Share(2) Change of U.S. 1.00 per barrel of oil and NGLs 2,528,000 0.08 Change of Canadian 0.10 per MCF of natural gas 786,000…
  11. September 2014 Presentation – Bonterra Energy Corp – slide 11
    INCREASING SHAREHOLDER VALUE Production per Share Production Profile (boe per share) 0.147 0.124 0.119 0.109 0.101 30% Natural Gas 70% Oil/NGLs 12,400- 12,700 12,190 2009 2010 2011 2012 2013 Gross Production (boe per…
  12. September 2014 Presentation – Bonterra Energy Corp – slide 12
    INCREASING SHAREHOLDER VALUE Reserves per Share Reserves Profile (boe per share) (Proved plus Probable) (Proved plus Probable) 2.47 2.28 2.09 2.13 1.99 27% Natural Gas 73% Oil/NGLs 74,981 2009 2010 2011 2012 2013 Gross…
  13. September 2014 Presentation – Bonterra Energy Corp – slide 13
    CARDIUM LANDS LAND Average working interest 77% Bonterra operates 88.5% of its total production Reserve life index (Proved) 12 years Reserve life index (P+P) 17 years Reserves (P+P) 75.0 MBOE Land position 250.3 gross…
  14. September 2014 Presentation – Bonterra Energy Corp – slide 14
    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…
  15. September 2014 Presentation – Bonterra Energy Corp – slide 15
    PEMBINA CARDIUM DEVELOPMENT CONVENTIONAL VERTICAL DEVELOPMENT 4 vertical wells Estimated ultimate oil recovery: 378,000 Bbl Recovery factor: 3.3% 8 HZ WELLS* PER SECTION DEVELOPMENT Estimated ultimate oil recovery: 1,178,000 Bbl…
  16. September 2014 Presentation – Bonterra Energy Corp – slide 16
    OPERATIONAL FOCUS Infrastructure 18 Million Average Well Cost: 2.8 Million Equip Operated & Non- 10% Operated Well Costs 122 Million Drilling 42% Completion 48% 16
  17. September 2014 Presentation – Bonterra Energy Corp – slide 17
    DRILLING INNOVATION Spud to Rig Release Normalized to 3,000m MD 20 15 DAYS 10 5 0 2008 2009 2010 2011 2012 2013 2014 YEAR Transition from intermediate casing design to monobore design Advances in bit…
  18. September 2014 Presentation – Bonterra Energy Corp – slide 18
    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…
  19. September 2014 Presentation – Bonterra Energy Corp – slide 19
    PAD DEVELOPMENT ADVANTAGES ASSEMBLY LINE DEVELOPMENT Concentration of activity that dramatically increases capital efficiencies and minimizes surface disturbance 19
  20. September 2014 Presentation – Bonterra Energy Corp – slide 20
    PEMBINA CARDIUM DEVELOPMENT 13 12 11 10 9 8 7 6 5 4 3 2W5 51 50 49 48 47 46 45 44 20
  21. September 2014 Presentation – Bonterra Energy Corp – slide 21
    CARNWOOD AREA Drilled Drilling To Be Drilled in 2014 Potential locations Sections: 38 gross (35 net); Locations (8 wells per section): 305 gross (280 net) 21
  22. September 2014 Presentation – Bonterra Energy Corp – slide 22
    AVERAGE BNE CARDIUM ECONOMICS BNE AVERAGE HZ METRICS 250.00 Total capital costs per well (MM) 2.6 BNE Avg Hz excluding Carnwood Reserves per well (MBOE) 175 Carnwood HZ IP (1 month) (boe/d) 193 200.00 IP (12 months) (boe/d) 105…
  23. September 2014 Presentation – Bonterra Energy Corp – slide 23
    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…
  24. September 2014 Presentation – Bonterra Energy Corp – slide 24
    CORPORATE INFORMATION BOARD OF DIRECTORS BANKERS G. J. Drummond CIBC, Calgary, Alberta G. F. Fink Alberta Treasury Branch, Calgary, Alberta R. M. Jarock National Bank of Canada, Calgary, Alberta C. R. Jonsson TD Securities, Calgary,…

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