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EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd.

Bellatrix Exploration Ltd. · Aug 18, 2015 · 21 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. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 1
    Full Cycle Profitable Growth EnerCom Oil & Gas Conference AUGUST 2015 TSX: BXE NYSE: BXE
  2. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 2
    Bellatrix Core Values Focus on per Technically strong Strategic direction Flexible financial share profitability & vision position Track record of Early stage adoption of 20+ years drilling Balance sheet production, reserve &…
  3. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 3
    Corporate Profile MARKET SUMMARY Ticker Symbol TSX / NYSE: BXE Average Daily Volume1 Canada: 1.8 million / U.S.: 0.6 million Shares Outstanding 192.0 million basic / 205.8 million diluted Market Capitalization2 563 million Net…
  4. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 4
    Doing More with Less in 2015 2015/2014 2015 FORECAST 2014 ACTUAL CHANGE Net Capital Budget (MM) 160 504 -68% Infrastructure (MM) 80 188 -57% Drilling & Completions (MM) 75 298 -75% Other (MM)1 5 18 -72% Average Production Low…
  5. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 5
    Commodity Price Risk Management NATURAL GAS HEDGES OIL HEDGES 100% 2.93 AECO swap C/Mcf 60% 90% % of total forecast 2015 gas volumes AECO basis swap C70.34 C70.34 % of forecast 2015 oil & condi volumes 80% 50% 70% 40%…
  6. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 6
    Peer Group Comparison OPERATING COSTS/ BOE1 2P FD&A (INCLUDING FDC)2 16.00 22.00 20.00 14.00 18.00 12.00 16.00 10.00 14.00 12.00 8.00 10.00 6.00 8.00 6.00 4.00 4.00 2.00 2.00 0.00 0.00 BXE BXE Low cost operator Top…
  7. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 7
    Concentrated Land Base FERRIER WEST CENTRAL ALBERTA STRACHAN Production1 (% of total): 74% Production1 (% of total): 8% Land2 (net acres): 75,333 Land2 (net acres): 50,750 P+P net locations: 178 P+P net locations: 33 Unbooked net…
  8. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 8
    Significant Drilling Inventory NET ACREAGE1 NET DRILLING LOCATIONS2 Net dev. Net undev. Proved Probable Unbooked Total Area sections sections Total locations locations locations locations Ferrier 59 59 118 137 41 549 727 Willesden…
  9. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 9
    Spirit River Liquids Rich Gas BXE Land Sections FERRIER CORE SPIRIT RIVER PLAY 287 Gross1 162 Net1 BXE Net Drilling Inventory 44 proved 15 probable 339 unbooked 398 total Spirit River Resource Play Summary Regional Stacked…
  10. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 10
    Spirit River Geology Summary Broad, thick, extensive sand rich valleys in Notikewin, Falher and Wilrich members Average thickness 25-40m 2 to 3 stacked channels per section 2-6 wells per pad 3 wells per zone to fully develop a section…
  11. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 11
    Profit to investment ratio (NPV/well cost) 0.00 0.05 0.10 0.15 0.20 0.25 0.30 0.35 0.40 0.45 0.50 12 Spirit River-Ferrier Montney-Dawson Spirit River-Kakwa Montney-Glacier Lower Montney-Parkland- natural gas…
  12. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 12
    Spirit River Type Curves 7.4 BCF TYPE CURVE SPIRIT RIVER TYPE CURVES 2,000 EUR 1,421 Mboe / 20% oil + liq. 7.4 Bcf Type Curve 5.2 Bcf Type Curve 1,800 IP30 1,887 boe/d (11.3 MMcfe/d) Average Production (boe/d) 1,600 Half Cycle…
  13. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 13
    Spirit River All-In Profitability Full cycle F&D costs Drill 2.1MM Full cycle F&D costs /Mcfe (1.11) Complete 1.7MM Equip & tie-in 0.8MM Half cycle costs 4.7MM Cash costs /Mcfe (1.57) Land/seismic/facilities 1.1MM Full cycle costs…
  14. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 14
    Cardium Light Oil Resource Play BXE Cardium Sections 494 Gross Edson 334 Net BXE Net Drilling Inventory 157 proved 50 probable Pembina 348 unbooked Ferrier 555 total Lease Operate Expense < 9.00/boe Cardium Resource Play…
  15. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 15
    Greater Ferrier Area Infrastructure Overview GREATER FERRIER EXISTING GREATER FERRIER AREA STRATEGIC INFRASTRUCTURE INFRASTRUCTURE ACCESS: Infrastructure gives Bellatrix control of production and growth Working interest or…
  16. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 16
    Growing Firm Capacity Within Core Areas TOTAL BELLATRIX GROSS PROCESSING CAPACITY GREATER FERRIER BXE Phase 2 deep cut incremental 600 110 MMcf/d Total processing Total Gross Raw Gas Processing Capacity (MMcf/d) BXE Phase 1…
  17. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 17
    Bellatrix Alder Flats Deep Cut Facility Plant Phase 1 brought on ahead of schedule and on-budget Achieved inlet gas volumes of over 110 MMcf/d by mid-June Performance testing confirmed design rate recoveries for NGLs Trial tested…
  18. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 18
    Financial Position 2015 A YEAR OF BALANCE SHEET PRESERVATION Up to 160 million CAPEX budget US250 million senior unsecured notes issuance closed May 21, 2015 improved liquidity August 2015 announced two of the three bank covenants…
  19. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 19
    Joint Ventures JOINT VENTURES Bellatrixs differentiated JV strategy Grafton JV (GJV) CNOR JV - 500 MM provides significant benefits 305 MM (Grafton managed co.) Accelerates development potential of our multi-billion dollar Effective…
  20. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 20
    Corporate Information BOARD OF DIRECTORS OFFICERS BANKERS W.C. (Mickey) Dunn Raymond G. Smith, P.Eng. National Bank of Canada Chairman President & CEO Alberta Treasury Branches HSBC Bank Canada Edward J. Brown, C.A. Canadian Imperial…
  21. EnerCom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 21
    1920, 800 5th Avenue SW Calgary, Alberta Canada T2P 3T6 Tel: (403) 266-8670 Fax: (403) 264-8163 www.bellatrixexploration.com

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