Actions Taken Today 2016 capital program will be Limit capital expenditures to Free Cash Flow neutral funds flow from operations Ramping down H2 2015 activity 20 million annual cash savings Suspend our dividend Effective…
Limiting Capex to Funds Flow from Operations 215MM 150MM Surplus Surplus Going forward, we plan to limit our total Capital Expenditures to Funds Capex Capex Capex Incl. Incl. Incl. Flow from Operations Enviro FFO Enviro…
Core Areas Remain Profitable Total Core Assets Production 54,000 boe/d Liquids 76% Opex 15.50/boe NOI 440MM Netback 22.50/boe Slave Point Cardium 100 kms 65 miles Production 29,500 boe/d Liquids 66% 95 kms Opex 14.50/boe…
Driving Down Capital Costs Pembina Cardium Drill Cost Dodsland Viking Drill Cost 550 230 Pembina Cardium 220 Dodsland Viking H1 2015 cost per H1 2015 cost per meter drilled down meter drilled down 200/m from 2013 30/m from…
Driving Down Operating Costs 800 Absolute operating costs at our existing properties reduced over 20% 700 excluding the impact of divestitures Operating Costs (MM) 600 Expect further 5 10% operating cost savings in…
Current Hedge Position Targeting to hedge 25% - 40% of net oil volumes and 40% - 50% of net gas volumes 75MM current mark to market value on senior note FX contracts Oil Hedge Position: Volumes & Price Gas Hedge Position: Volumes &…
Continue to Transact on Non-Core Assets 3.4B 1.5B of dispositions over the last 24 months 2.2B Q2 2013 Net Debt Q2 2015 Net Debt 3,500 (493) 3,402 3,000 (212) Total production sold of 30,000 boe/d (348) implies aggregate…
Non-Core Areas: Upside Potential with Stable Base H1 2015 Operational Summary NE B.C. & NW AB Production Liquids (boe/d) (%) Mitsue 4,500 78% Weyburn 2,500 100% Swan Hills 8,000 76% PROP NE BC & NW AB 8,000 8% East Central AB…
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