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Investor Presentation – Twin Butte Energy Ltd.

Twin Butte Energy Ltd. · Nov 1, 2014 · 28 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. Investor Presentation – Twin Butte Energy Ltd. – slide 1
    Printer-friendly version November 2014 November, Sustainable Income Cash Flow Growth Fiscal Discipline TSX: TBE www.twinbutteenergy.com
  2. Investor Presentation – Twin Butte Energy Ltd. – slide 2
    Corporate Snapshot Deliver 10%+ average annual return (income and growth) Basic shares 350 MM Oil leveraged production (90% liquids) Fully diluted 358 MM Current production 21,500 boe/d (51% heavy oil*, 40% medium oil* & Insiders…
  3. Investor Presentation – Twin Butte Energy Ltd. – slide 3
    Why Invest in TBE Sustainable dividend (13% current yield) 0.192 per share annually Increasing Per Share Cash Flow (+10% 2015 vs. 2014)) 225 MM 2015 forecast (0.64/share) Expanding Inventory New N S Sparky k & Lithi Lithic…
  4. Investor Presentation – Twin Butte Energy Ltd. – slide 4
    2015 Projected Sustainability Equation Production 21,500 boed 32% decline = 6,900 boed to replace Capital Efficiency (IP 365)* = 23,000 boe/d Capital Program = 160 MM Dividend (net drip) = 61 MM (0.192/sh) Forecast Cash Flow = 225…
  5. Investor Presentation – Twin Butte Energy Ltd. – slide 5
    Hedge Book Support Oil Hedging Reduces Cash Flow Volatility 14,000 82.00 12,000 80.00 10,000 78.00 ed bbl/d hedge /bbl WCSS 8 000 8,000 76.00 6,000 74.00 4 000 4,000 72.00 2,000 70 00 70.00 Q4 2014 Q1 2015…
  6. Investor Presentation – Twin Butte Energy Ltd. – slide 6
    Financial & Operational Performance 2014 2015** 2013 Actual Forecast* Forecast Average Production (boe/d) 17,585 21,500 21,500 Liquids Production (%) 88 88 91 Capital expenditures (net MM) 77 142 160 Cash Dividend (MM net of…
  7. Investor Presentation – Twin Butte Energy Ltd. – slide 7
    Peer Sustainability Comparison 2015 Estimated Payout Ratio (ex DRIP) 180% 160% 140% 120% 100% 80% 60% 40% 20% 0% Source: TD Securities Inc. estimates (Nov 14, 2014) 7 TSX: TBE
  8. Investor Presentation – Twin Butte Energy Ltd. – slide 8
    Focused Asset Base Alberta Saskatchewan 91% of Corporate production…
  9. Investor Presentation – Twin Butte Energy Ltd. – slide 9
    Improving Barrel Quality Provost Average Per Provost Provost Heavy Heavy Dina/ Well Estimates Sparky Lithic Horizontals Verticals Cummings D,C,E Capital 900 1,300 1,300 1,100 550 (k) IP365 53 66 66 57 34 (boed) Capital…
  10. Investor Presentation – Twin Butte Energy Ltd. – slide 10
    Capital Allocation Transition 100% 90% on by Play Tyype 80% 70% Focus on more predictable, 60% higher g value barrels Capittal Allocatio 50% 40% 30% 20% 10% 0% 2012 2013 2014 2015 2016 2017 2018 Heavy Vertical…
  11. Investor Presentation – Twin Butte Energy Ltd. – slide 11
    Capital Program Breakdown Estimated 2015 Capital Provost Dina Cummings (MM) Full development Expand water handling capacity Expand footprint on satellite 40 opportunities 70 20 Provost Sparky & Lithic 30 Continue…
  12. Investor Presentation – Twin Butte Energy Ltd. – slide 12
    Transition Grows Cash Flow Cash Flow Growth as Medium Oil Weighting Increases 270 00 270.00 250.00 230.00 2015 Cash FFlow MM Estimated Cash Flow 210.00 2014 2014 Estimated 190.00 Cash Flow…
  13. Investor Presentation – Twin Butte Energy Ltd. – slide 13
    Provost Oil Core Area Multi-zone potential G E G Significant land position with J C G G G G G R6 G G R5 C G G R4 G R3 R2 G R1W4 J F G F G F K DG G G D C E D G GG G G G F G G K G C G GD G K G GJ E G G K G D F G…
  14. Investor Presentation – Twin Butte Energy Ltd. – slide 14
    Provost Production History Oct 2014 field estimate 9,077 , boed 10,000 Boed Strong production growth associated with Q3 development program T t l P d ti Total Production P 2010 RR W ll Pre2010 RR Wells 10% D li 10%…
  15. Investor Presentation – Twin Butte Energy Ltd. – slide 15
    Provost Dina-Cummings G J C E G G G G G G R6 G G R5 C G G R4 G R3 R2 G R1W4 J F G F G F K G D G G D C E D G GG G G G F G G K G C G G Development focus on in-fills, GD K G GJ EG G K G D F G J J C L G G G G G…
  16. Investor Presentation – Twin Butte Energy Ltd. – slide 16
    Provost Dina-Cummings HZ Production 120 100 80 Oil Rate (bo pd) 60 Consistent, strong perfomrnace On average wells booked at 55 mbbl(2P) O 40 20 0 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37…
  17. Investor Presentation – Twin Butte Energy Ltd. – slide 17
    Provost Sparky G G E G E G IK I G G G R4 G GD G G D G I C DI R3 I GG S IG D J DS G G K J G G G GL R2W4 G G G G I E I E I G GG K E E I JDD Multiple potential development areas G EJ GD E EE G G G J I I GS M…
  18. Investor Presentation – Twin Butte Energy Ltd. – slide 18
    Provost Lithic Channel Play G G E G IK IG G E Multiple, thick (10m) oil charged prospective channel siltstones intervals E G G R4 G GD G G D G I R3I C DI GG S IG K D JDS G G G J G G R2W4 G L G G G G I I E I G GG G EK…
  19. Investor Presentation – Twin Butte Energy Ltd. – slide 19
    Heavy Oil Core Area 25 km Frog Lake Focus on low recovery predictable reservoirs Tangleflags Primarily horizontal development with Swimming Celtic select vertical development Heavy Water flood potential Silverdale…
  20. Investor Presentation – Twin Butte Energy Ltd. – slide 20
    Heavy Development C K J F D K L G D S C Wildmere GD E H E H E K I E K G G LE D E E E DJ I I E ID D H D HD Swimming R6 A G L E E HH H H I H J E E I H G R5 G I I I I I E G J E E E E HH E I I E E K DR4W4…
  21. Investor Presentation – Twin Butte Energy Ltd. – slide 21
    Sustainable Income Plus Growth Primary focus is dividend sustainability Total returns to shareholders via sustainable dividend and moderate growth (target 10% combined yield plus growth) Sustainable monthly dividend at an annual…
  22. Investor Presentation – Twin Butte Energy Ltd. – slide 22
    Appendix 22 TSX: TBE
  23. Investor Presentation – Twin Butte Energy Ltd. – slide 23
    Financial Sensitivity 2015 Payout Ratio adjusted for WCS and AECO Price Changes AECO Price 65 WCS 70 WCS 75 WCS 80 WCS 85 WCS (CAD/GJ) (CAD/bbl) (CAD/bbl) (CAD/bbl) (CAD/bbl) (CAD/bbl) 3.25 110% 96% 85% 76% 69% 3.75 109% 96% 84%…
  24. Investor Presentation – Twin Butte Energy Ltd. – slide 24
    Twin Butte Strategy Deliver 10%+ average annual return (income and growth) Maintain Production Base Fi Financial i l Discipline Di i li (P (Payoutt ratio…
  25. Investor Presentation – Twin Butte Energy Ltd. – slide 25
    Analyst Coverage Company Analyst Target Action Acumen Trevor Reynolds 2.35 Spec Buy BMO Capital Gordon Tait 2.25 Market Perform Canaccord TBD U/R U/R CIBC Capital Jeremy Kaliel 2.00 Sector Perform Cormark Securities TBD U/R U/R…
  26. Investor Presentation – Twin Butte Energy Ltd. – slide 26
    Heavy Oil Differential 2014 WCS USD Heavy Crude Oil Monthly Basis Forecasts - (5) (10) (15) USSD per Bbl (20) Avg 20.97 (25) (30) (35) (40) (45) Sep-10 Sep-11 Dec-10 Mar-11 Jun-11 Dec-11…
  27. Investor Presentation – Twin Butte Energy Ltd. – slide 27
    Management and Board Jim Saunders Chief Executive Officer (CEO) Rob Wollmann President Alan Steele Vice President, Finance & CFO David Middleton Chief Operating Officer Claude Gamache Vice President, Geosciences Gord Howe Vice…
  28. Investor Presentation – Twin Butte Energy Ltd. – slide 28
    A Long Term Sustainable Model Jim Saunders - CEO jsaunderstwinbutteenergy.com Rob Wollmann President rwollmanntwinbutteenergy.com Alan Steele CFO asteeletwinbutteenergy.com TSX TBE TSX: www twinbutteenergy com…

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