BONTERRA ENERGY INVESTOR UPDATE APRIL 2013 YIELD GROWTH SUSTAINABILITY
CURRENT SNAPSHOT CORPORATE PROFILE Fully diluted shares 30.6 million Market capitalization 1.5 billion* Insider ownership 14% Current monthly dividend 0.28 per share Current annualized yield* 6.8% Oil and liquids weighting 74% Reserve…
2013 GUIDANCE OUTLOOK Average production 12,000 BOE per day Operating costs 13.00 per BOE Operating netbacks(1) 43.78 per BOE(2) Forecast cash flow from commodities(3) 192 million Capital program 90 million Dividend payments (0.28…
BONTERRA: SIGNIFICANT VALUE YIELD GROWTH SUSTAINABILITY History of increasing Light-oil focused producer Large, concentrated asset dividends (increased with a history of growing base in the Cardium with monthly from 0.12 per production…
FINANCIAL RESULTS HIGHLIGHTS (000s except per share amounts) 2012 2011 2010 Funds Flow(1) 80,429 101,988 74,385 Per share basic 4.07 5.27 3.95 Payout ratio 77% 58% 64% Cash flow from operations 74,325 97,409 66,238 Per share -…
- 0.05 0.10 0.15 0.20 0.25 0.30 Jan-09 0.35 Feb-09 0.16 Mar-09 0.12 Apr-09 May-09 Jun-09 Jul-09 23.6% per year Aug-09 0.14 Sep-09 Oct-09 April 2009 April 2013 Nov-09 0.16 Dec-09 Jan-10…
YIELD: DIVIDEND CORPORATIONS 12.00% Bonterras yield is currently above its peer average; the companys strengthened financial and operational 10.85% position in 2013 may provide additional yield 10.60% contraction on a go forward…
INCREASING SHAREHOLDER VALUE Production per Share Production Profile (BOE per share) 0.124 0.119 0.109 0.101 0.093 26% Natural Gas 74% Oil/NGLs 12,000 2008 2009 2010 2011 2012 Gross Production (BOE per day year over…
INCREASING SHAREHOLDER VALUE Reserves per Share Reserves Profile (BOE per share) (Proved plus Probable) (Proved plus Probable) 2.28 2.09 2.13 1.99 1.83 25% Natural Gas 75% Oil/NGLs 2008 2009 2010 2011 2012 70,537…
STRONG NETBACKS 90.00 Gross production revenue ( per BOE) Royalties Production costs General and administrative Interest and taxes Cash netback 80.00 76.53 10.82 70.33 70.00 7.62 66.48 6.78 60.00 57.92 58.19 15.98 5.64 15.94 5.61…
CARDIUM LANDS PEMBINA WILLESDEN GREEN Bonterra Land AREA OVERVIEW 2012 HIGHLIGHTS Average working interest 77% 2012 average daily production 6,703 BOE per day Reserve life index (P+P) 16.1 years 34 gross (22.9 net) horizontal…
PEMBINA CARDIUM ORIGINAL OIL IN PLACE PER SECTION RECOVERY FACTOR KEY CHARACTERISTICS Pembina is the largest conventional oilfield in Canada with more than 9.3 billion barrels of oil in place and just 14 percent having been…
SIGNIFICANT UPSIDE HIGH AMOUNTS OF ORIGINAL OIL IN PLACE WITH LOW RECOVERY FACTOR LARGE OPPORTUNITY Majority of Bonterras land position covers areas with high original oil in place and low recovery factors Bonterra operates 88.5%…
PRODUCTION FORECAST Bonterra Base Bonterra HZ Spartan 2013 Capital 15,000 Forecast 10,000 BOE/D 5,000 - Month 16
PEMBINA CARDIUM ECONOMICS 200 KEY METRICS Total capital costs per well (MM) 2.5 Reserves per well (MBOE) 150 IP (1 month) (BOE per day) 193 150 IP (12 months) (BOE per day) 100 ECONOMICS Rate (boepd) Internal rate of return…
PEMBINA CARDIUM DEVELOPMENT Section 13-48-6 W5 Estimated Original Oil in Place: 12,000,000 Bbl Current CURRENT DEVELOPMENT 8 WELLS* PER SECTION DEVELOPMENT Estimated ultimate oil recovery: 378,000 Bbl Estimated ultimate oil…
A DOMINANT LIGHT OIL YIELD CO. SUSTAINABILITY Concentrated production base and existing infrastructure should provide future growth Combined, sustainable, high-netback production profile Drilling inventory in the Pembina field in…
APPENDIX 20
STRONG ASSET BASE NORTHEAST BC Current Production: 338 BOE/day Area: 22,638 net 2P Reserves: 1,095 MBOE Oil & Liquids Weighting: 7% ALBERTA Current Production: 12,529 BOE/day Area: 152,452 net 2P Reserves: 68,988 MBOE Oil &…
OIL PRICES: INCREASED DIFFERENTIALS 110.00 WTI Bonterra Average Realized Price 102.56 102.93 101.30 2012 was characterized by volatile and large 100.00 price differentials between WTI and average realized prices 96.25 94.10…
CASH FLOW SENSITIVITIES Cash Flow Sensitivity Analysis(1) (estimate for 2013) Cash Flow Per Share(2) U.S. 1.00 per barrel of oil and NGLs 3,100,000 0.10 Canadian 0.10 per MCF of natural gas 750,000 0.03 Change of Canadian 0.01 /…
PEMBINA DRILLING PERFORMANCE Strong improvement in Bonterras drilling performance in Pembina while the well depth has stayed at 3,500 metres. Monobore design started in January, all wells under 15 days
CORPORATE INFORMATION Included Christmas shutdown Old design using Intermediate casing Monobore design Steady increase in performance in Keystone. All monobore wells 5 to 7 days 25
CORPORATE INFORMATION BOARD OF DIRECTORS BANKERS G. J. Drummond CIBC, Calgary, Alberta G. F. Fink Alberta Treasury Branch, Calgary, Alberta R. M. Jarock National Bank of Canada, Calgary, Alberta C. R. Jonsson TD Securities, Calgary,…
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