Corporate Snapshot Share Ownership / Capital Structure Shareholders (fully diluted) Management 22% / CPPIB 78% Term Debt 6.875% Senior Unsecured Notes (due September 2022) US350MM / C386 MM1 Reserves / Production 2P Reserves2 93…
Teine Competitive Advantage 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 50…
Teines Viking Assets An Enviable Position 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 River…
Teines Infrastructure Advantage 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…
Reacting to Commodity Prices 2015 Outlook 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 (CMM)…
Focus On Capital Efficiency 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 920K…
Proven Track Record A Platform for Growth 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 1,957…
Teines Viking Robust Economic Inventory 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…
Maintenance Capital 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 US…
Free Cash Flow Generation 2015E to 2018E 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…
Cash Flow Neutral Production Growth 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:…
Potential Future Upside Significant potential incremental recovery from increased well densities and implementation of secondary recovery techniques Numerous Viking operators undertaking 20 - 32 well Increased Well Densities Test and…
19 Appendix
Future Growth in Reserves and Net Asset Value 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…
Overview of Reserves 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…
North American Crude Oil Play Comparison 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 Cardium…
Saskatchewan Viking Exploiting a Light Oil Play 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…
Saskatchewan Viking A Growth Story 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…
Teine Well Performance 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…
Teine Viking Well Economics Robust in Current Environment1 Type Curve IRR Sensitivities Assumptions Oil Price (US/bbl) 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…
Teine Asset Development Plan 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 Section…
Canadian Light Oil Pricing Teine Costless Collar Range 5,000 bbl/d C61.00 C84.50 28
Q1 2015 Debt Summary Unsecured Senior Notes Senior Bank Debt Q1 2015 Covenants US350 MM outstanding C250 MM total facility Covenant…
Corporate Information Board of Directors Bankers Avik Dey Chair Dennis Chorney Vice-Chair National Bank of Canada, Syndicate head Jim Howe Adam Vigna Wilmington Trust, Bond Administrator David Chambers Nicholas Zelenczuk Jason…
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