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August 2015 Investor Presentation – Tourmaline Oil Corp.

Tourmaline Oil Corp. · Aug 6, 2015 · 40 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. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 1
    Tourmaline Oil Corp. Corporate Presentation August 2015
  2. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 2
    2 Current Status July/Aug 2015 Production Overview July/August estimated production range 154,000 160,000 boepd Additional 25,000 boepd behind pipe awaiting tie-in 2015 average production forecast of 164,500 boepd (46% year over…
  3. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 3
    3 Historical EP Performance July 2015 Production Growth Per Share* Reserves Growth Per Share* 250 4.5 Production per Thousand Shares Reserves per Share (BOEs) 4 200 3.5 3 150 2.5 (BOEs) 100 2 1.5 50 1 0.5 0 0…
  4. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 4
    Largest Canadian Gas Producers; 4 2014 & 2015 Canadian WCSB Production 2014 & 2015E** 1,700 1,600 1,500 2014 Production 2015E Production 1,400 1,300 1,200 1,100 Production (MMCF/D) 1,000 900 800 700 600 500 400…
  5. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 5
    5 Deep Basin Overview July 2015 Tourmaline has assembled the largest land position (1.35 million acres), delineated the largest drilling inventory (7,420 locations Schedule A) and has become the largest producer (current 100,000…
  6. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 6
    6 Alberta Deep Basin July 2015 DEEP BASIN - Deep Basin Overall Area R. 9 R. 7 R. 5 R. 3 R. 1, W6M R. 24 R. 22 R. 20 T. 63 Current Production 100,000 boepd Current Reserves 479 mmboe (Jan 1, 2015) Tourmaline Land Base 2,210…
  7. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 7
    7 Alberta Deep Basin: Wilrich Regional Resource Play July 2015 DEEP BASIN - Deep Basin Overall Area R. 9 R. 7 R. 5 R. 3 R. 1, W6M R. 24 R. 22 R. 20 T. 63 Tourmaline Lands Kakwa 13-15/4-10 Pad 30 day IP 24.8mmcfpd Tourmaline…
  8. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 8
    Deep Basin Wilrich: Sweet Spot Outperformance 8 TOU has delineated six extensive sweet spots in the Wilrich to date, totalling 625 of the 2,400 Company interest drilling locations*. These future locations are all accessible to…
  9. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 9
    9 Top AB Natural Gas Wells for 2014 Source: Peters & Co, geoSCOUT
  10. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 10
    10 Alberta Deep Basin Infrastructure July 2015 DEEP BASIN - Deep Basin Overall Area R. 7 R. 5 R. 3 R. 1, W6M R. 24 R. 22 R. 20 Tourmaline Tourmalines 1.35 MM Acres, the largest land position in the Deep Musreau 8-13 TCPL Main…
  11. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 11
    11 Banshee Alberta Gas Plant Simple, easy to construct dew point plants tied to the main TCPL sales system Total cost (2 phases) of 80M, capacity of 130 mmcfpd with enhanced liquids recovery capability
  12. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 12
    12 Mapan Energy Acquisition Overview* June 2015 A significant production, reserve and land addition to Tourmaline's Deep Basin core area with very attractive metrics. Cecilia, the main producing Mapan asset, was originally a…
  13. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 13
    13 Mapan Deep Basin Properties June 2015 R13 R9 R5 R1W6 R22 R18 R14 R10W5 Current Tourmaline Deep Basin Assets Chinook Ridge Current Production 100,000 T67 boepd Current Reserves 479 mmboe (Jan 1, 2015) Tourmaline Land Base…
  14. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 14
    NEBC Montney Gas Condensate and Peace 14 River High Charlie Lake Oil Core Areas July 2015 R23 R21 R19 R17 R15 R13 R11 R9 R7 R5 R3 R 1, W6M NE Alberta BC T85 Parkland Wabamun Gas Pool Devonian Parkland Non-Deposition T83…
  15. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 15
    15 Sunrise/Dawson NEBC Montney/Doig Development July 2015 Current Prod. 225-235 mmcf/d Westcoast McMahon 4,000 bopd (cond,ngls) Gas Plant Current Reserves 305 mmboe (Jan 1, 2015) 2015 Drilling 35-40 Montney Hz Gas, 1 Doig Hz…
  16. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 16
    16 Dawson-Doe Montney Turbidite Play May 2015 Tourmaline has delineated a new condensate rich Lower Turbidite Montney lobe at Dawson-Doe, with 10 wells drilled and completed since Q4 2013. The Company has a total of 234 remaining…
  17. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 17
    17 Top New BC Natural Gas Wells for May 2015 Source: Peters & Co, geoSCOUT Note: All 10 wells are producing from the Triassic Montney
  18. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 18
    18 Tourmaline Regional Montney Play BC/AB July 2015 R9 R5 R1W6 R20 Tourmaline R16 is the R8W5 T95 5th/6th largest Montney producer in Canada through development of only one of its four Montney play areas The companysT91…
  19. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 19
    19 Peace River High Complex Charlie Lake Play July 2015 Earring 15-16 R. 10 R. 9 R.BOPD, IP90: 130 7 R. 5 Peace River High Charlie Lake Play 1.7 MMSCF/D 1,420 Horizontal Locations* along Regional Play Fairway 6-10 Vert. Cum. 55…
  20. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 20
    Peace River High Charlie Lake Play 20 Improving 2015 EP Efficiencies Via Multi-Well Pads Feb 2015 Tourmaline has now drilled over 100 successful Charlie Lake horizontal wells (and zero dry holes) delineating the 70 mile long…
  21. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 21
    2015 Acquisition Activity 21 Sweet Spot Consolidation Strategy July 2015 R. 15W6 R. 1W6 R. 15W5 2015 Acquisition activities will focus on adding new lands and incremental NE Alberta locations in the highest deliverability/most…
  22. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 22
    22 Production & Reserves Growth Aug 2015 Production 160,000 140,000 120,000 100,000 BOEPD 80,000 60,000 40,000 20,000 0 2010 Avg 2011 Avg 2012 Avg 2013 Avg 2014 Avg YTD 2015 Reserves (GLJ) 2011 2012 2013 2014…
  23. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 23
    23 Gas Development Location Inventory and Economics Apr 2015 AB Deep Basin Outer Foothills AB Deep Basin B.C. Montney Charlie Lk Vertical Vertical Horizontal Horizontal Horizontal Total Well Costs 3.7 5.25 5.2 3.7 3.5 (Drill,…
  24. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 24
    24 5 Year Development Outlook Aug 2015 300,000 270,000 2018 Production Outlook does not include 240,000 2017 Production the impact of the Mapan 210,000 transaction. BOE/Day 2016 Production 180,000 150,000 2015 Production…
  25. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 25
    25 Continuous Cost Reduction Strategy July 2015 Operating Costs General and Administrative Costs 2.46 8.00 2.50 7.00 6.51 2.00 6.34 6.00 /boe 1.50 /boe 5.58 1.29 4.87 1.02 5.00 1.00 4.43 4.35 4.35 0.79 0.74…
  26. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 26
    26 2015 and 2016 Base Budget Aug 2015 2015 2016 Capital Spending (excluding A&D) 1,400.0 million 1,350.0 million Annual Average Production 164,500 boe/d 215,000 boe/d Average Q4 2015/Q4 2016 Production 200,463 boe/d 221,849…
  27. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 27
    27 Natural Gas Outlook Natural gas, the cleanest burning/lowest emission content of the fossil fuel group is the logical energy bridge source for the next several decades. The North American natural gas EP sector requires prices…
  28. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 28
    28 2015 Outlook July 2015 2015 forecast production of 164,500 boepd, representing 46% YOY growth. 2015 exit facility capacity of approximately 200,000 boepd, matching estimated 2015 exit production estimate. 2015 debt to cash…
  29. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 29
    29 Capitalization to Date Insiders Public Total millions of shares Price* millions of shares Price* 2008 Financings Common shares 28.50 5.16 22.00 7.00 301.0 2008 Financings Flow through shares 1.25 10.00 1.25 10.00 25.0 2009…
  30. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 30
    APPENDIX
  31. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 31
    31 Natural Gas Flows From Western Canada
  32. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 32
    32 Tourmaline vs Marcellus Peers (1) March 2015 Tourmaline Tourmaline Marcellus Shale Marcellus Shale Alberta Deep B.C. Montney (2) Liquids Rich (5 Companies) Basin (2) (5 Companies) Drill, Case, Complete Costs 4.5MM 3.3MM 6.75MM…
  33. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 33
    33 Hedging Summary 2015 Aug 2015 2015 Gas Hedges (August December) Volume Weighted Avg Price mcf/d /mcf(1) Fixed Price Hedges AECO (CDN) 254,523 3.59 Fixed Nymex (CDN)(2) 59,946 3.90 Total Fixed Hedges 314,469 % gas hedged…
  34. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 34
    34 Incremental Q2-Q4 2015 Opportunities July 2015 The Q4 2014/Q1 2015 EP Program yielded a large number of new, previously unfunded drilling opportunities throughout Tourmalines three operated complexes. The June 2015 financing will…
  35. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 35
    35 EP Growth Plan (Original Business Plan) Sept 2008 Primary growth mechanism will be a conventional EP Program (including Resource plays). Build 2-3 core EP areas during initial three years of operations. Strive for large…
  36. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 36
    36 Western Canadian Sedimentary Basin Selected Exploration & Production Opportunities NORTHWEST TERRITORIES Alta. Deep Basin Peace River High Charlie Lk. Oil. Alta./NEBC B.C. ALBERTA Resource Plays Peace River High…
  37. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 37
    Alberta Deep Basin: 37 Notikewin/Falher Hz Program July 2015 R. 9 R. 7 R. 5 R. 3 R. 1, W6M R. 24 R. 22 R. 20 T. 63 Kakwa 1-2 30 day IP 18.6 mmcfpd Kakwa 13-20 30 day IP 18.3 mmcfpd Wild R 12-28 T. 61 Musreau/ 30 day IP 22.4…
  38. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 38
    38 Improving Montney Performance/ Efficiency History (More for Less) Montney Performance/Efficiency History (Duvernay/Tourmaline) 20 10 Initial Production Rate (mmcfpd) 15 Drill/Complete Cost (M) 10 5 5 0 0…
  39. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 39
    39 North East BC Montney Water Management July 2013 Non-potable water sourced lined reservoir for frac operations (2 non-freshwater wells) Separate water pipeline system to existing and future pads. Frac water pumped to pads…
  40. August 2015 Investor Presentation – Tourmaline Oil Corp. – slide 40
    41 Schedule A continued Deep Basin Vertical well count : 2,210 gross sections x 2 wells per section minus approximately 10% for areas that are inaccessible or limited by spacing requirements minus approximately 600 existing wells =…

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