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Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd.

Twin Butte Energy Ltd. · Jun 22, 2015 · 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. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 1
    Q2 - 2015 Disciplined Dividend Company Positioned To Succeed TSX: TBE www.twinbutteenergy.com
  2. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 2
    Corporate Snapshot Deliver 10%+ average annual return (income and growth) Basic shares 353 MM Oil leveraged production (90% Fully diluted 366 MM liquids) Insiders own - Basic / FD 3.2 /4.5% C Current rrent prod production…
  3. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 3
    2015 Key Priorities - Q1 Update Maintain and Enhance Balance Sheet Flexibility Maintain financial discipline (Total…
  4. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 4
    The Facts - Transition Scorecard Q1 Operational Results - Quality Focus Transition score sheet Q1 2015 Q1 2014 Change Focus on value and sustainability over short Production (boe/d) 19 158 19,158 22 529 22,529 -3,371 3 371 term…
  5. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 5
    Transition Scorecard Q1 Financial Results Prudence, Discipline Q1 2015 Q1 2014 Change Field Netback (per ( boe)) 11.65 37.43 -25.78 Lower revenue overshadows cost structure improvements Hedging (per boe) 24.81 -8.71 33.52…
  6. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 6
    Quality Focus Netback Comparison TBE Provost Lloyd Area Provost Lloyd (Q1 2015) Area TBE Hzs Heavy Hzs Revenue (/boe) 35.79 39.45 34.64 40.51 36.35 Royalties(/boe) (4.31) (3.76) (5.09) (3.87) (2.88) Operating and (19.83) (16.06)…
  7. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 7
    2015 Guidance 2015* May Update 2014 December Forecast** Average Production (boe/d) 17,500 19,100 Liquids Production (%) 90 90 Capital expenditures (net MM) 100 120 Cash Dividend ((MM)) 42 42 Dividend per share 0.12 0.12 Cash…
  8. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 8
    Hedge Book Support Oil Hedging Reduces Cash Flow Volatility 14,000 84.00 12,000 82.00 10,000 80.00 65% 67% bbl/d heedged WCS 8,000 78.00 /bbl W 6,000 76.00 4,000 74.00 37% 37% 2,000 72.00 70.00 Q1 2015 Q2…
  9. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 9
    Focused Asset Base 91% of Corporate production in core area…
  10. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 10
    Capital Program Breakdown H1 capital 40-45 MM (Q1 - 25 MM) Estimated 2015 Capital Annual capital budget decreased (100 MM)) ( 20MM in response to low commodity prices Provost 80% of capital Dina/Cummings development 20% Sparky…
  11. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 11
    Provost Medium Oil Core Area Multi-zone potential Expanding land position 100 HZ wells drilled since 2010 March 2015 production 8,950 boe/d Viking 500m Joli Fou Shale Upper Mannville Waseca Sparky Oil prone GP…
  12. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 12
    Provost Dina-Cummings G J C G F E G G G G G R6 G G R5 C R4 G R3 R2 R1W4 J F Extensive well and seismic G G G G G G F F K G G G C D E G GG G G G G F G G G K C G G G GJ E G K G K J G F G J L C G G G G G G F GE G…
  13. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 13
    Provost Sparky G E E E G G D G EJEIEI EGIJI EI E I I G E I G G R4 J ID K G DG J I G G G G G R3 R2W4 G G G G IEI D S IIIIII II JEJ EE E E I E DI G G GK J G GJ G DD D ED H GIII 11 wells drilled to date EDG…
  14. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 14
    Provost Lithic Channel Play K G DDG G EJ J H I JEJ DJJE I J E D D J SD S D D D I ED S G E G G G EIJJ EJJJEE I CHJJE S E G G DG S DED E DE J E DD IDDE EE E I I DS G DG ED GD E GD R4 ED G H R3 GJ G R2 G G I IIJ DJ JJJJ SE S…
  15. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 15
    Lloydminster - Heavy 25 km Frog Lake Short Term Focus - Cost structure reduction - Dropped Heavy area operating and transportation costs from 27.11/boe (Q1 14) Tangleflags to 22.83/boe (Q1 15) Swimming Celtic - Key drivers…
  16. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 16
    Conservative, Disciplined Balance sheet management is a priority. Total payout (dividend and capital) will not exceed cash flow. 2015 capital plan will be adjusted to fit ongoing commodity prices Long term focus on delivering…
  17. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 17
    Appendix 17 TSX: TBE
  18. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 18
    Inventory Provost Average Per Provost Provost Heavy Dina/ Well Estimates Sparky Lithic Horizontals Cummings D,C,E D C E Capital 870 1,040 1,150 1,000 (k) IP365 53 66 66 57 (boed) Capital Efficiency 16,400 15,750 17,500…
  19. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 19
    Analyst Coverage Company Analyst Target Action Acumen Trevor Reynolds y 1.50 Speculative Buyy BMO Capital Gordon Tait 1.15 Market Perform Canaccord Genutiy Dennis Fong 0.90 Hold CIBC Capital Jeremy Kaliel 1.00 Sector Perform…
  20. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 20
    Management and Board Management Rob Wollmann President and CEO Alan Steele Vice President, Finance & CFO David Middleton Chief Operating Officer Claude Gamache Vice President, President Geosciences Gord Howe Vice President, Land…
  21. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 21
    Debt & Liquidity March 31, 2015 millions Current bank credit facility 365 Bank debt (68% drawn) (247) Working Capital (deficit) (8) Liquidity (available credit facility) 110 Net debt Bank debt & working capital 255 C…
  22. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 22
    2014 Yearend Reserves Summary 2014 Reserves Summary Company Working Interest As of Dec 31, 2014 McDaniel's Jan 1, 2015 Price Deck Lt+Med Oil Hvy Oil Gas NGLs BOE % of PV10 % of FDC RLI (Mbbls) (Mbbls) (MMcf) (Mbbls)…
  23. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 23
    Heavy Oil Differential WCS USD Heavy Crude Oil Monthly Basis - (5) (10) (15) USDD per Bbl (20) Avg 19.81 (25) ( ) (30) (35) (40) (45) Jul-11 Oct-11 Jan-12 Jul-12 Oct-12 Jan-13 Jul-13 Oct-13…
  24. Q2 2015 CONFERENCE CALL – Twin Butte Energy Ltd. – slide 24
    Positioned Positioned to succeed succeed Rob Wollmann President & CEO rwollmanntwinbutteenergy.com Alan Steele CFO asteeletwinbutteenergy.com TSX: TBE www.twinbutteenergy.com 410, 396 11th Avenue SW Calgary, Alberta T2R 0C5…

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