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JUNE 2015 CORPORATE PRESENTATION – Teine Energy

Teine Energy · Jun 12, 2015 · 28 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. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 1
    FOCUS, SUSTAINABILITY, PROFITABILITY June 2015
  2. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 2
    Corporate Snapshot 2 Share Ownership / Capital Structure Shareholders (fully diluted) Management 22% / CPPIB 78% Term Debt 6.875% Senior Unsecured Notes (due September 2022) US350MM Reserves / Production 2P Reserves1 93 MMboe 2P…
  3. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 3
    Teine Competitive Advantage 3 Teine seeks to continuously improve profitability by both decreasing capital and operating costs and increasing well productivity and overall reservoir recovery Robust economics Saskatchewan Own and at…
  4. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 4
    Teines Viking Assets An Enviable Position 4 WCSB Viking Land Holders1 Gross Sask Viking Production2 800 700 Teine 600 Others 20% 23% 500 Net Sections 400 Crescent 300 Point 5% 200 100 Yanchang 7% 0 Raging…
  5. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 5
    Teines Infrastructure Advantage 5 Attractive, virtually contiguous acreage Own, control and operate strategic infrastructure 6 oil batteries; aggregate of 24,000 bbls/d capacity 3 gas plants; aggregate of 15 MMcf/d capacity…
  6. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 6
    Reacting to Commodity Prices 2015 Outlook 6 2014A 2015E1 Managing growth and preserving the Avg. Production (boe/d) 12,283 13,500 +10% balance sheet Wells Drilled () 289 130 (55%) Focusing on projects with recycle ratios FFO…
  7. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 7
    Q1 2015 Leading Field Netbacks 7 Opex + Transport1 Field Netback1,2 25 35 30 29.30 20.27 28.38 20 18.82 19.20 17.34 25 22.99 15.49 21.21 15 14.22 20 19.09 18.87 12.71 C/boe C/boe 12.07 16.99 16.70 15 10 9.51…
  8. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 8
    Focus On Capital Efficiency 8 Teine Well Performance by Vintage Teine Well DCE1 Costs 80 8,000 Fracs per well have increased from 8 to 18 74 1,200 69 70 7,000 90-Day Cumulative Oil Production (bbls) 1,000 60 6,000 56…
  9. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 9
    Profitable Cost Structure 9 Input + F&D Costs (C/boe)1,2 100 90 78.30 80.01 80 70 Realized Pricing (C/boe) 22.54 28.32 60 3.96 50 2.07 3.32 2.24 43.89 10.67 40 9.24 7.79 9.58 1.93 10.55 2.55 30 6.96 5.08 20…
  10. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 10
    Creating Shareholder Value 10 Capitalization Per Share Metrics1 80 Significant Return on Investment 75 70 1,987 3 60 56 53 50 48 43 40 855 30 24 21 21 445 2 20 10 410 0 2011 2012 2013 2014 Capitalization Reserve…
  11. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 11
    Proven Track Record A Platform for Growth 11 Production Reserves1 15,000 100 12,283 Probable Proved 12,000 80 30.5 Reserves (MMboe) 29.0 Production (boe/d) 9,000 7,791 60 22.0 6,000 40 2,978 58.0 62.2 3,000 1,775…
  12. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 12
    Teines Viking Robust Economic Inventory 12 2,900 low-risk Hz Viking oil drilling locations1 Less than 50% of identified locations booked in 2P reserves Teines identified drilling inventory provides it with 10 years of drilling…
  13. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 13
    Maintenance Capital 13 Teine 2015E Stay Flat Capital to Maintain Flat YoY Production of 12,300 boe/d AT Free Cashflow Stay Flat Capex At Cashflow 180 150 120 CMM 90 60 30 0 40.00 50.00 60.00 70.00 80.00 WTI…
  14. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 14
    Free Cash Flow Generation 2015E to 2018E 14 Teine corporate free cash flow at various production growth rates and WTI prices US60 US70 US80 US90 2018E Avg. Production 500 20,000 18,000 16,750 2015E-2018E Cumulative After-tax FCF…
  15. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 15
    Cash Flow Neutral Production Growth 15 Annual production with cash flow neutral drilling program at various WTI prices US60 US70 US80 US90 60,000 57,289 CAGR: 62% 50,000 40,000 38,011 CAGR: 41% 28,926 30,000 CAGR:…
  16. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 16
    Potential Future Upside 16 Significant potential incremental recovery from increased well densities and implementation of secondary recovery techniques Increased Well Densities Test and Waterflood Pilot Numerous Viking operators…
  17. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 17
    19 Appendix
  18. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 18
    Future Growth in Reserves and Net Asset Value 20 Significant potential for growth in reserves and net asset value as Teine executes its low- risk development plan and current well production performance is recognized Reserve class…
  19. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 19
    Overview of Reserves 21 Teine has a large light oil focused reserve base Sproule Dec 31, 2014 Reserve Evaluation Commodity Composition 93 MMboe 2P 62 MMboe Proved Reserves Btax Oil NGL's Gas Total NPV10% 13% 13% MMbbls MMbbls Bcf…
  20. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 20
    North American Crude Oil Play Comparison 22 Payout1 Breakeven Price2 Payout (Years) Breakeven (US/bbl) Sask. Bakken Hz. 2.1 Sask. Bakken Hz. 49.33 Viking Hz. Dodsland 2.3 Viking Hz. Dodsland 49.40 Eagle Ford Oil - East 2.6…
  21. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 21
    Saskatchewan Viking Exploiting a Light Oil Play 23 Saskatchewan Viking Light Oil Overview WCSB Viking Trend3 Large OOIP, both over a large geographical area and on a per section basis Estimated 6 billion bbls of OOIP from the…
  22. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 22
    Saskatchewan Viking A Growth Story 24 Significant increase in drilling activity Over 1,100 wells spud in 2013 compared to 100 wells in 2009 New resurgence with the advent of horizontal drilling and multi stage fracing Current…
  23. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 23
    Teine Well Performance 25 Recent well performance has exceeded type curves2 used in the Reserve Report Based on Sproule type curves, higher initial production rates correspond to increased ultimate recoveries Teines recent well…
  24. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 24
    Teine Viking Well Economics Robust in Current Environment1 26 Type Curve IRR Sensitivities Assumptions Oil Price 40.00 50.00 60.00 70.00 80.00 90.00 100.00 DCET Cost (000s) 850 Tier 3 na na na 7% 18% 29% 41% Fixed Operating Cost…
  25. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 25
    Teine Asset Development Plan 27 Teines understanding of the Viking oil play and technical innovation provide a proven competitive advantage Viking Development Early understanding of play enabled Teine to acquire high quality Full…
  26. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 26
    Canadian Light Oil Pricing 28 Teine Costless Collar Range 5,000 bbl/d C61.00 C84.50
  27. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 27
    Q1 2015 Debt Summary 29 Unsecured Senior Notes Senior Bank Debt Summary US350 MM outstanding 250 MM total / 200 MM Long-dated indebtedness and available significant available liquidity Cross currency hedge locks Key covenants…
  28. JUNE 2015 CORPORATE PRESENTATION – Teine Energy – slide 28
    Corporate Information 30 Board of Directors Bankers Dennis Chorney Chair Jim Howe National Bank of Canada, Syndicate head Avik Dey Adam Vigna Wilmington Trust, Bond Administrator Jeff Donahue Nicholas Zelenczuk Jason Denney…

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