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Investor Presentation – Delphi Energy Corp.

Delphi Energy Corp. · Oct 1, 2014 · 35 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. Investor Presentation – Delphi Energy Corp. – slide 1
    DEE 2014 OCTOBER 2014 CORPORATE PRESENTATION
  2. Investor Presentation – Delphi Energy Corp. – slide 2
    3 CORPORATE: SNAPSHOT DEE Bigstone Montney was the driver of significant growth in 2013 24% increase in production 43% increase in proved 58% increase in (Q4/13 over Q4/12) plus probable reserves net asset value per share to…
  3. Investor Presentation – Delphi Energy Corp. – slide 3
    4 BIGSTONE MONTNEY: A COMPANY MAKER DEE Significant Montney production growth at East Bigstone: Montney production increased to over 60% in Q2/14 from 20% in Q1/13 12 new Montney wells on-stream bringing total to 15 producers 1…
  4. Investor Presentation – Delphi Energy Corp. – slide 4
    5 CORPORATE: RESERVES DEE Dec. 31, 2013 Categories December 31, 2013 Reserves TP reserves increased 52 percent from YE 2012 24% PDP 41% PV10 reserve value increased 79 percent PDNP 3% P+P reserves increased 43 percent from…
  5. Investor Presentation – Delphi Energy Corp. – slide 5
    6 CORPORATE: PRODUCTION DEE 1H 2014 Production 10,349 boe/d Montney production growth starting to show Hythe 2013 a year of transition with slickwater fracs Bigstone Cretaceous applied to Montney resource Bigstone Montney…
  6. Investor Presentation – Delphi Energy Corp. – slide 6
    7 BIGSTONE MONTNEY: A GREAT PIECE OF REAL ESTATE DEE Montney land position has grown to 138 gross (116.5 net) sections since 2010 Delphi one of the largest Montney landowners on map sheet Delphi is a leader in the technical…
  7. Investor Presentation – Delphi Energy Corp. – slide 7
    8 BIGSTONE MONTNEY: ASSEMBLED 138 SECTIONS DEE East Bigstone: 78 sections Held 4 sections of legacy Montney rights West Bigstone: 27 sections below existing DEE production 26.3 sections of Cretaceous added Sept/14 Added 12…
  8. Investor Presentation – Delphi Energy Corp. – slide 8
    9 EAST BIGSTONE: DEVELOPMENT DEE East Bigstone Development/Manufacturing Mode +100 Locations East Bigstone 19 producing wells West Bigstone 16 DEE Producing Upper Montney Montney Horizontals +100 Locations Fir 10…
  9. Investor Presentation – Delphi Energy Corp. – slide 9
    10 EAST BIGSTONE MONTNEY: PLAY EVOLUTION DEE Drilled 3 HZ wells in 2012: Two mile HZs with laterals of 2,200 m to To KA Sour 13-30 15-30 Plant 3,000 m ATH 16-30 2 wells 10-27 DEI Fracd using conventional frac designs 14-23 3…
  10. Investor Presentation – Delphi Energy Corp. – slide 10
    11 BIGSTONE MONTNEY: EVOLUTION OF FRAC DESIGN DEE 150 m Slickwater Hybrid Frac System Pumping: 5 times the fluid 2+ times the sand Evolution of Montney Completions 200 40 Ave tonnes/frac Average tonnes per frac…
  11. Investor Presentation – Delphi Energy Corp. – slide 11
    12 BIGSTONE MONTNEY: WELL PERFORMANCE COMPARISON DEE (1) Initial Production (IP) Rate Well Performance Number Initial IP30 IP30 IP30 IP180 Total Sales Payout Monthly (3) (5) HZ Length of Fracs Test Rate Total Sales FCond Rate…
  12. Investor Presentation – Delphi Energy Corp. – slide 12
    13 PRODUCTION: EXCEEDING EXPECTATIONS DEE Total Sales 10,000 10-27-60-23W5 16-23-60-23W5 15-24-60-23W5 15-30-60-22W5 15-21-60-23W5 13-30-60-22W5 02-01-60-23W5 02-07-60-22W5 08-21-60-22W5 16-15-60-23W5 12-17-59-22W5 Revised Type…
  13. Investor Presentation – Delphi Energy Corp. – slide 13
    14 PRODUCTION: EXCEEDING EXPECTATIONS DEE Field Condensate to Gas Ratio 1,000 10-27-60-23W5 16-23-60-23W5 15-24-60-23W5 15-30-60-22W5 15-21-60-23W5 13-30-60-22W5 02-01-60-23W5 02-07-60-22W5 08-21-60-22W5 16-15-60-23W5…
  14. Investor Presentation – Delphi Energy Corp. – slide 14
    15 PRODUCTION: EXCEEDING EXPECTATIONS DEE Cumulative Production 500 10-27-60-23W5 15-21-60-23W5 16-23-60-23W5 13-30-60-22W5 15-24-60-23W5 02-01-60-23W5 15-30-60-22W5 02-07-60-22W5 15-21-60-23W5 08-21-60-22W5 13-30-60-22W5…
  15. Investor Presentation – Delphi Energy Corp. – slide 15
    16 PRODUCTION: EXCEEDING EXPECTATIONS DEE Cumulative Revenue 22,000 10-27-60-23W5 16-23-60-23W5 15-24-60-23W5 15-30-60-22W5 15-21-60-23W5 13-30-60-22W5 02-01-60-23W5 02-07-60-22W5 08-21-60-22W5 16-15-60-23W5 12-17-59-22W5…
  16. Investor Presentation – Delphi Energy Corp. – slide 16
    17 BIGSTONE MONTNEY: WELL DESIGN DEE Extended Reach Evolution of Montney Drilling Depths 6000 HZ Drilling Over 4,000 Montney wells drilled in last 5 years 5000 Ave. HZ Length Depth (m) Ave. TVD 2,700 4000 Two - single…
  17. Investor Presentation – Delphi Energy Corp. – slide 17
    18 BIGSTONE MONTNEY: COMPLETION OPTIMIZATION DEE Completions 100,000 bbl water cell Have now completed 11 Slickwater Hybrid Fracs Significantly greater stimulated rock volume Pumped 5X fluid and 2X sand Water handling in place…
  18. Investor Presentation – Delphi Energy Corp. – slide 18
    19 BIGSTONE MONTNEY: ECONOMIC MODEL DEE Two Section Montney Horizontal w/ 30 stage Slickwater Hybrid Completion Revised Type Well (1) Capital Total MM 9.2 Initial Production (day 1) Gas mmcf/d raw 7.0 Initial Field Condensate…
  19. Investor Presentation – Delphi Energy Corp. – slide 19
    20 WEST BIGSTONE MONTNEY: DE-RISKING DEE West Bigstone Montney: 27 sections (100% WI) Upper and middle Montney thicken Delphi 9-4 Well Conventional Natural gas is sweet to marginally sour Gelled Oil Frac Condensate and NGL…
  20. Investor Presentation – Delphi Energy Corp. – slide 20
    21 LOOKING AT THE FUTURE: 5 YEAR OUTLOOK DEE Bigstone Montney will be the driver of significant future growth Major Themes: Maximize value creation for the shareholder Focus on per share growth Efficient use of incremental…
  21. Investor Presentation – Delphi Energy Corp. – slide 21
    22 5 YEAR OUTLOOK: FINANCIAL FLEXIBILITY DEE ( millions) (Net Debt/FFO) 500 3.0 Total Debt Credit Capacity Net Debt/FFO Over 320 million excess 400 credit capacity by 2018 2.4 funding additional growth opportunities 300…
  22. Investor Presentation – Delphi Energy Corp. – slide 22
    23 5 YEAR OUTLOOK: 70 WELL MONTNEY PROGRAM DEE Corporate Maintenance Montney Wells ( millions) ( Wells) 250 25 16 Drilled 24 Surveyed or Licensed 770 million (70 well) Montney 68 Future Locations capital expenditure program…
  23. Investor Presentation – Delphi Energy Corp. – slide 23
    24 5 YEAR OUTLOOK: FUNDING THE GROWTH DEE ( millions) 300 2014 to 2018 Forecast Cumulative Cash Flow: 796 million 250 Cumulative Capital: 770 million Near term source of funding: cash flow, credit capacity, 200 JV partnership…
  24. Investor Presentation – Delphi Energy Corp. – slide 24
    25 5 YEAR OUTLOOK: PRODUCTION VOLUMES DEE (Boe/d) (Boe/d per million shares) 30,000 240 Other Hythe Wapiti Bigstone Cretaceous Bigstone Montney Boe/d per million shares 25,000 200 2014 to 2018 Forecast Growth Boe/d per…
  25. Investor Presentation – Delphi Energy Corp. – slide 25
    26 CASH GENERATING CAPABILITY: NETBACKS MOVING HIGHER DEE Cash Netbacks continuing higher Cash Netback (/Boe) 35.00 Montney production growth: 30.00 Hedging Netback from Production Montney netback almost 3 times greater 25.00…
  26. Investor Presentation – Delphi Energy Corp. – slide 26
    27 5 YEAR OUTLOOK: CASH FLOW GROWTH DEE ( millions) (/share) 300 2.40 Funds from Operations FFOPS 250 2.00 2014 to 2018 Forecast Growth Cash netbacks: 116% 200 CAGR: 17% 1.60 Cash flow per share: 619% 290 million CAGR: 48%…
  27. Investor Presentation – Delphi Energy Corp. – slide 27
    28 BIGSTONE MONTNEY: 2014 DRILLING PROGRAM DEE Area of 5 year / 70 well Development plan 17 10 8 16 East Bigstone 9 3 6 7 13 5 1 4 2 14 12 11 15 DEE 12-17 Whipstock 2014 drilling plans include: 7 8 HZ…
  28. Investor Presentation – Delphi Energy Corp. – slide 28
    29 BIGSTONE MONTNEY: STRATEGIC INFRASTRUCTURE DEE Rge25W5 Rge24 Rge23 Rge22 Rge19 Rge18 Delphi owns significant existing infrastructure in the Bigstone area KA SemCAMS Sour processing capacity at SemCAMS K3 Lower fee…
  29. Investor Presentation – Delphi Energy Corp. – slide 29
    30 HEDGING PROGRAM: PROTECTING CASH FLOW DEE Natural Gas Jul - Dec 2014 2015 2016 2017 Volume (mmcf/d) 24.1 24.6 10.9 2.4 % Hedged * 57 59 26 6 Fixed Price (/mcf) 3.62 3.73 3.68 3.96 Crude Oil Jul 2014 Jul Dec 2014 2015 Volume…
  30. Investor Presentation – Delphi Energy Corp. – slide 30
    31 2014 MARKET GUIDANCE DEE 2013 2014 Forecast Change Average Production (BOE/d) 8,241 10,000 10,500 24% Exit Production (BOE/d) 9,638 11,500 12,000 22% Percentage NGL/light oil 27% 29% 7% Natural gas price (AECO /mcf) 3.17…
  31. Investor Presentation – Delphi Energy Corp. – slide 31
    32 DELPHI SUMMARY DEE Current inventory of scalable development opportunities: Montney land base has grown to 138 sections Application of slickwater frac technology is successful Gas rates / NGL yields / costs Field operations…
  32. Investor Presentation – Delphi Energy Corp. – slide 32
    33 DEE APPENDIX
  33. Investor Presentation – Delphi Energy Corp. – slide 33
    34 FURTHER FOCUSING THE DEEP BASIN ASSET BASE DEE Cash Generating Capability by Play Type Concentrated land base of over 340 sections Percent of Capital Recovered Bigstone Montney HZ Significant HZ drilling inventory on…
  34. Investor Presentation – Delphi Energy Corp. – slide 34
    35 THE DEEP BASIN: INFRASTRUCTURE IS CRITICAL DEE Sexsmith Gas Plant 210 mmcf/d Hythe Knopcik Gas Plant 71 mmcf/d Goodfare Gas Plant 24 mmcf/d Wapiti Deep Cut Plant 355 mmcf/d Wapiti Shallow Cut Plant 125 mmcf/d…
  35. Investor Presentation – Delphi Energy Corp. – slide 35
    36 DEE 300, 500 4th Avenue S.W. Calgary, Alberta T2P 2V6 Telephone: (403) 265-6171 Facsimile: (403) 265-6207 Email: infodelphienergy.ca Website: www.delphienergy.ca

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