cequence energy ltd ANNUAL GENERAL MEETING JUNE 2015 1
Corporate Highlights Announced a 54 million midstream partnership which will give Cequence access to both major pipeline systems in Alberta while retaining 50% interest in Simonette infrastructure Corporate production averaged…
Corporate Profile Trading Symbol TSX: CQE Q1 2015 Production (Boe/d) 11,217 52week trading range 0.79 3.21 Shares outstanding 211 MM Insider ownership 13% FD Market capitalization (1) 211 MM Net Debt March 31, 2015(2) 83 MM Pro…
Reserves and Finding Costs solid growth per share in reserves and value FD&A (/Boe) Reserves 2P Reserve Value 16.00 140 0.7 1200 6 Reserves increased 3 year average 140% since 2010 14.00 118 10.77 per Boe 120 0.6 1,004 113…
Corporate Production and Cash Costs Production (Boe/d) Cash Cost (/Boe) 16,000 20 Simonette driving growth 18 14,000 Sold 588 boed of 16 12,000 Merger with annualized Ansell 14 Temple Energy production in 10,000 2014 12…
Excellent Cash Cost & Production Growth vs Peer Group Cequence in top quartile for peer cash cost Strong production and PDP reserve growth per share including companies with different commodity mix *Peters & Co. March, 2015…
Corporate Guidance March 2015 Revised 2015(4) 2015 Guidance Guidance Average Production (Boe/d)(1) 11,500 11,500 Capital expenditures, net of dispositions 60 MM 40 MM Operating and transportation costs per Boe 8.80 9.20 G&A…
Simonette Cequences Key Asset Approximately 120 km SE of Grande Prairie Simonette is 85% of corporate production, and 95%+ of capital CANADA spending USA March 2015 production average 10,300 boed (50.7 MMcfd gas and 1,880…
Simonette Egress Strategic location near major infrastructure Optionality on both major gas systems in Alberta R2 R1W6 R27 R26 R25 R24 R23W5 BRITISH COLUMBIA ALBERTA 3D Seismic Cequence Alliance Coverage T64 Meter Station…
Alberta Deep Basin Montney An active area R9 R8 R7 R6 R5 R4 R3 R2 R1W6 R26 R25 R24 R23 R22 R21W5 T69 Cequence Simonette lands on Montney trend T68 NUVISTA T67 Numerous companies with active Montney drilling programs on…
Simonette Montney 2014/15 Winter Drilling Activity R1W6 R27 R26 R25W5 6 miles 10 recent wells performing as expected with last two reported IP 30 rates of 6 T62 MMcf/d gas and 32 bbl/mmcf free condensate 1226 PAD Costs…
Montney Drilling, Completion and Wellsite Equipment Costs Repeatable execution demonstrated Pad drilling times and costs continue to improve 2013/14 well avg: 9.0 MM/well drill and Larger fracs being placed efficiently using ball…
Cequence Montney Gas Well Performance 2014/15 Winter season (June to March) 201415 winter program 10 Gross (9 net) wells from pads Consistent repeatable results Increased frac intensity should deliver improved long term…
Montney Half Cycle Economics Wells are economic at strip prices BASE CASE HALF CYCLE ECONOMICS 7 BCF CASE Budget model IP (MMcf/d) 5.5 7.5 100 IP 30 (MMcf/d) 4.6 6.9 EUR (MBoe) 925 1,290 95 Greater than 20% IRR Raw Gas (Bcf)…
Simonette Upper Montney Development Plan R1W6 R27 R26 R25W5 Approximately 200 Upper 6 miles locations depending on optimum well length, interwell spacing and T62CURRENT commodity price HORIZONTAL TARGET 2.3 TCF DPIIP (1) in…
Simonette Dunvegan evaluating oil potential this summer R2 R1W6 R27 R26 R25W5 Dunvegan Oil play T63 Recent 1318 Dunvegan E Oil Two separate oil plays Discovery emerging offsetting CQE land CTD 95 MBO (1 year) CUR 218 BOPD Nearby…
Dunvegan Gas Model 22 Working HALF CYCLE ECONOMICS 10026102W6 Model 20 05026102W6 IP (MMcf/d) 10.5 IP 30 (MMcf/d) 9.3 18 111206102W6/02 EUR (MBoe) 1050 Raw Gas (Bcf) 6.0 021106102W6 Condy (MBbl) 60 16 Working Model NGL…
Hedging Contract Type Volume GJ/d CAD Price 2015 January 1, 2015 to March 31, 2015 Average Gas Swap 27,583 3.67/GJ AECO 2015 April 1, 2015 to September 30, 2015 Average Gas Swap 30,000 3.36/GJ AECO 2015 October 1, 2015 to…
Conclusions Strong consistent operational success moving to Montney pad development Production growth achieved Preserve our balance sheet with reduced capex program in 2015 & Midstream partnership Solid hedge position 20
Appendix Cequence Simonette 1311 Compressor Station 21
Management and Board Management Team Board of Directors Paul Wanklyn President and CEO Don Archibald Chairman Todd Brown VP & COO Peter Bannister Steve Stretch VP Exploration and Chief Geophysicist Rob Cook Dave Gillis VP…
Simonette Deep Basin Stack Dunvegan Wilrich Montney Simonette Upper CURRENT HORIZONTAL TARGET ZONE Falher Bluesky / Gething Simonette Lower POTENTIAL HORIZONTAL TARGET ZONE 23
Multiple Zones with Significant Resource Potential at Simonette CEQUENCE LAND Zone Total Resource Potential/Sec (1) 2,400m Dunvegan 525 BCF 2,500m Falher 524 BCF 2,700m Wilrich 524 BCF 2,800m Gething 525 BCF 2,950m…
locations net sections falher play wilrich play mapped potential locations
Falher Model strong economics with 28 well inventory 14 Working HALF CYCLE ECONOMICS Model 161806101W6 IP (MMcf/d) 7.8 070606101W6 IP 30 (MMcf/d) 6.0 12 EUR (MBoe) 800 081806101W6 Raw Gas (Bcf) 4.0 3 well avg Condy (MBbl) 110…
www.cequence-energy.com Contacts: 3100, 525 - 8th Avenue SW Calgary AB T2P 1G1 Paul Wanklyn David Gillis President & CEO Vice President, Finance & CFO Phone: 403-229-3050 Fax: 403-229-0603 pwanklyncequenceenergy.com…
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