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JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp.

Delphi Energy Corp. · Jul 14, 2015 · 31 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. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 1
    CORPORATE PRESENTATION JULY 2015
  2. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 2
    DELPHI: A SUSTAINABLE BUSINESS MODEL Cash generating capability remains healthy in current environment Balanced revenue stream (2014: 49% Gas, 51% Condensate/NGLs) Significant commodity hedge position for 2015 and 2016 Efficient cost…
  3. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 3
    CORPORATE FOCUS: BIGSTONE MONTNEY Cash Generating Capability Concentrated land base of over 300 sections by Play Type Percent of Capital Recovered Bigstone Montney HZ Significant HZ drilling inventory on multiple Bigstone…
  4. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 4
    BIGSTONE MONTNEY: A DOMINANT LAND POSITION Montney land position has grown to 138.5 gross (117.1 net) sections since 2010 Continue to pursue additional Delphi one of the largest Montney landowners on map sheet Montney opportunities…
  5. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 5
    BIGSTONE CONDENSATE-RICH MONTNEY Bigstone Montney the driver of significant growth Built an 8,000 boe/d 138 gross sections Payout achieved on 5 Forecast average asset on net capital with a drilling wells (6 to 18 months) Montney…
  6. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 6
    BIGSTONE MONTNEY: 20 WELLS DRILLED Drilled 3 HZ wells in 2012 To KA Sour Two mile HZs with laterals of Plant 16-27 2,200 m to 3,000 m 15-30 ATH 12-27 10-27 13-30 16-30 DEI Fracd using conventional gelled 4 wells 3 wells 13-23…
  7. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 7
    PRODUCTION GROWTH: MONTNEY IMPACT 2014 Production 10,549 boe/d Montney Production Ramped Up in 2014 Hythe Eleven fold increase in Montney production from 800 boe/d Bigstone Cretaceous in Feb 2013 to over 8,000 boe/d in Nov 2014…
  8. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 8
    RESERVES GROWTH: MONTNEY IMPACT Growth in Montney Reserves Montney Development 124% growth in PDP reserves over 2013 Increase in 2P value to 448.2 million and 2P Montney reserves to 50.7 mmboe Delphi Capital Efficiencies (proved…
  9. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 9
    LIQUIDS YIELD AND NETBACKS: MONTNEY IMPACT Liquids Yield (bbls/mmcf) Field Condensate Plant Condensate Butane Propane Ethane 120 Montney Cash Netbacks Increasing with Montney Growth 100 Corporate 14 17 Montney average liquids yield…
  10. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 10
    2012 TO 2014 PRODUCTION (BOE/D) Delphi Production Montney Production 12,000 2012 Dispositions and 28% Growth 8,000 natural declines offset 7,000 124% Growth 10,000 by Montney growth 6,000 8,000 5,000 6,000 4,000 4,000 3,000…
  11. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 11
    2012 TO 2014 NETBACK AND COSTS (/BOE) Legacy Asset Netbacks Montney Asset Netbacks 30.00 30.00 Montney generates 25.00 25.00 Fixed costs of facility almost twice the netback spread over very few with lower costs and volumes 20.00…
  12. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 12
    2014 F&D AND Q4 2014 NETBACKS: COMPARATIVES F&D Costs (Proven) and Q4 2014 Netbacks per BOE 60.00 60.00 Lean Gas Producer 2P Reserves Greater Than 80% Gas Q4 2014 Operating Netbacks 50.00 50.00 40.00 40.00 30.00 30.00…
  13. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 13
    BIGSTONE MONTNEY: PRODUCTION TRENDS Delphi Energy - East Bigstone 2 Mile Slickwater Montney Production Value creation remains robust 2,500 on GLJ January 2015 Price Deck 2,000 Type Well NPV = 13.9 million IRR = 85%…
  14. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 14
    BIGSTONE MONTNEY: INDIVIDUAL WELL DATA Initial Production (IP) Rate Well Performance (1) Number IP30 IP30 IP30 IP90 IP180 IP270 IP365 HZ Length of Fracs Total Sales FCond Rate Total NGL Total Sales Total Sales Total Sales Total Sales…
  15. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 15
    BIGSTONE MONTNEY: ECONOMICAL MODEL Two Section Montney Horizontal w/ 30 - 40 stage Slickwater Hybrid Completion Type Well (1) Capital Total MM 9.2 Initial Production (day 1) Gas mmcf/d raw 7.0 Initial Field Condensate bbl/mmcf…
  16. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 16
    2015 MONTNEY DEVELOPMENT OBJECTIVES 2015 Operational Focus on infill drilling Mitigate operational risks and minimize capital requirements Continue to optimize frac design Pursuing long term processing arrangements Slow down the…
  17. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 17
    BIGSTONE MONTNEY: 2015 DRILLING PROGRAM Area of 5 year / 70 well 2015 Drilling Plans Include: Development plan 4 to 5 HZ wells at East Bigstone East Bigstone 2 wells drilled in first half 20 million CAPEX 1…
  18. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 18
    WEST BIGSTONE MONTNEY: DE-RISKING Athabasca West Bigstone Montney: Producing 27 sections (100% WI) Delphi 9-4 Well Conventional Upper and middle Montney thicken Gelled Oil Frac Natural gas is sweet to marginally sour in 2012…
  19. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 19
    BIGSTONE MONTNEY: STRATEGIC INFRASTRUCTURE Rge25W5 Rge24 Rge23 Rge22 Rge19 Rge18 SemCAMS KA TCPL Delphi owns significant existing infrastructure in Alliance the Bigstone area Sour processing capacity at SemCAMS K3 Lower fee…
  20. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 20
    BIGSTONE MONTNEY: ALLIANCE FIRM SERVICE Delphis operations are located in the most active corridor of the Deep Basin (Montney and Duvernay) and the significant increase in area volume deliverability has constrained market access for…
  21. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 21
    HEDGING PROGRAM: PROTECTING CASH FLOW Natural Gas (Cdn) 2015 2016 2017 Volume (mmcf/d) 35.9 10.9 2.4 % Hedged (1) 78% 24% 5% Fixed Price (Cdn /mcf) 3.56 3.68 3.96 Strip Price (Cdn /mcf) 2.80 3.02 3.20 Natural Gas (US) 2015 2016…
  22. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 22
    2015 GUIDANCE 2014 Actuals 2015 Guidance % Change Average Annual Production (boe/d) 10,549 10,500 11,500 + 4% Exit Production Rate (boe/d) 11,500 11,000 11,500 - 2% AECO Natural Gas Price (Cdn per mcf) 4.48 2.50 - 44% WTI Oil…
  23. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 23
    DELPHI SUMMARY Bigstone Montney is a Top Tier growth asset: Large Montney land base of 138 sections Favorable economics and attractive capital efficiencies Remains economic in the trough of the commodity price cycle Cash generating…
  24. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 24
    APPENDIX July 2015 25
  25. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 25
    BIGSTONE MONTNEY: ASSEMBLED 138 SECTIONS East Bigstone: 78 sections Held 4 sections of legacy Montney rights below existing DEE production West Bigstone: 27 sections Added 12 sections of Montney rights through acquisition and…
  26. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 26
    BIGSTONE MONTNEY: PLAY EVOLUTION East Bigstone Development/Manufacturing Mode +100 Locations East Bigstone 20 producing wells West Bigstone Upper Montney +100 Locations Area of Focus Fir 10 producing wells West…
  27. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 27
    BIGSTONE MONTNEY: WELL DESIGN Evolution of Montney Drilling Depths Extended Reach 6000 HZ Drilling Over 4,000 Montney wells drilled in last 5 years 5000 Ave. HZ Length Depth (m) Ave. TVD 2,700 4000 3000 1,680 Two - single…
  28. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 28
    2012 TO 2014 RESERVES METRICS F,D&A-Proven (/boe) Recycle Ratio-Proven 50 3.0 40 2.5 2.0 30 1.5 20 1.0 10 0.5 0 0.0 2012 2013 2014 2012 2013 2014 F,D&A-2P (/boe) Recycle Ratio-2P 50 2.5 40 2.0 30 1.5 20 1.0 10…
  29. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 29
    BIGSTONE MONTNEY: COMPARATIVES Natural Gas Rate Field Condensate Rate Raw Gas Plus (Raw) Field Condensate Rate Delphi Energy East Bigstone Montney (17 wells) Delphi Energy East Bigstone Montney (17 wells) Delphi Energy East…
  30. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 30
    BIGSTONE MONTNEY: COMPARATIVES Well Depths 6,000 5,000 4,000 3,000 Metres 2,000 1,000 0 2012 2013 2014 TVD (m) Hz length (m) Well Costs 14,000 700 12,000 600 Cost per Frac Stage (000) 10,000 500 D&C…
  31. JULY 2015 CORPORATE PRESENTATION – Delphi Energy Corp. – slide 31
    300, 500 4th Avenue SW Calgary, Alberta T2P 2V6 P (403) 265-6171 F (403) 265-6207 infodelphienergy.ca www.delphienergy.ca July 2015 32

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