Penn West in 2015 2015 Production Guidance Trading Information (1) 90,000 - 100,000 boe/d Listing TSX:PWT NYSE: PWE Share Price C1.72 US1.31 Shares Outstanding 502.2MM 502.2MM Natural Gas Market Capitalization C864MM US658MM 31%…
Value Proposition Key pillars of the Long-Term Plan remain unchanged Debt Reduction Profitable Growth Execution and Cost Control pennwest.com TSX: PWT NYSE: PWE 5
Proactive Measures To Ensure Financial Flexibility The Company has finalized and entered into definitive amending agreements with the lenders under its syndicated bank facility and the holders of its senior notes to, among other…
Proactive Measures To Ensure Financial Flexibility The Company also agreed as follows: To reduce the existing 1.7 billion revolving bank facility to 1.2 billion The remaining 1.2 billion tranche of the revolving bank facility…
2015 Budget: Next Step in Delivery 2015 capital to focus on oil development, primarily on the Cardium and Viking Plays After adjusting for dispositions, 2015 plan implies approximately flat annual average production relative to…
Cardium Cardium Play Details T50 Role in Portfolio Core Development Play PCU 11 Easyford Locations 2,500 Base Decline (%) 17 - 19 J Lease Land (net sections) 975 Pembina PCU 9 Large contiguous land base in one of the largest…
Viking 40km / 24 miles Viking Play Details R22W3 Role in Portfolio Core Development Play Provide Free Cash Flow 20km / 12 miles Locations 1,000 - 1,500 Base Decline (%) 28 - 30 Land (net sections) 135 Waterflood T30 4 kms…
Waterflood Initiatives Enhancing value through Waterflood Forecasted Percentage of Production Under Active Waterflood 2014E 2019E Number of active vertical injectors (gross wells) 900 900 Number of active horizontal injectors (gross…
Current Play Life Cycle Company Focus on Development and Harvest Position & Prove Initial Full Harvest Deplete PWTs expertise is developing and Commerciality Development Development or Exit harvesting light oil resources Cardium…
Appendix
Current Hedging Position Crude Oil WTI Swaps: 7,500bbl/d, Jul/15 Sep/15, hedged at US52.00/bbl WTI Swaps: 5,000bbl/d, Jul/15 Sep/15, hedged at 74.78/bbl WTI Swaps: 12,500bbl/d, Oct/15 Dec/15, hedged at 72.57/bbl WTI Swaps:…
2014 2P Reserves & NPV Reconciliation 2P Company Gross (WI) Reconciliation 650 New adds replaced Year-end 2014 Company Gross (WI) 2P 156% of 2014 production 2P W.I. Reconciliation (mmboe) 625 Reserves of 561 mmboe, essentially…
Debt Capital Structure Senior Debt to EBITDA of 3.2 times at June 30, 2015 Credit Syndicate Private Notes 1.2B capacity CAD1.7B private notes 0.5B drawn as at June 30, 2015 3.6 years weighted average 1.2B of capacity expires May…
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