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SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp

Bonterra Energy Corp · Sep 1, 2015 · 24 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. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 1
    BONTERRA ENERGY CORP. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY
  2. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 2
    CURRENT SNAPSHOT CORPORATE PROFILE Shares outstanding 33.1 million Market capitalization 725 million Insider ownership 12% Current monthly dividend 0.15 per share Current annualized yield(1) 8.2% Oil and liquids weighting 6 mos 74% (6%…
  3. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 3
    FINANCIAL RESULTS HIGHLIGHTS Six Months Year Six Months (000s except per share amounts) 2015 2014 2014 Funds Flow 65,148 209,665 120,034 Per share basic 2.03 6.57 3.77 Payout ratio 52% 54% 46% Cash from other sources 6,900 39,500…
  4. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 4
    CASH FLOW SENSITIVITIES Per Annum Cash Flow Sensitivity Analysis(1) (estimate for 2015) Cash Flow Per Share(2) Change of U.S. 1.00 per barrel of oil and NGLs 2,983,000 0.09 Change of Canadian 0.10 per MCF of natural gas 701,000 0.02…
  5. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 5
    DIVIDEND HISTORY 0.40 0.35 0.30 0.30 0.29 0.28 0.26 0.25 0.24 0.22 0.21 0.20 0.18 0.16 0.16 0.15 0.15 0.14 0.12 0.10 0.05 - 5
  6. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 6
    INCREASING SHAREHOLDER VALUE Reserves per Share Reserves Profile (boe per share) (Proved plus Probable) (Proved plus Probable) 2.47 2.50 2.28 2.09 2.13 29% Natural Gas 1.99 71% Oil/NGLs 80,248 74,981 2009 2010 2011 2012…
  7. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 7
    INCREASING SHAREHOLDER VALUE Production per Share Production Profile (boe per share) 0.147 0.150 0.124 0.119 0.109 29% Natural Gas 0.101 71% Oil/NGLs 13,195 12,190 2009 2010 2011 2012 2013 2014 Gross Production (boe per…
  8. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 8
    PEMBINA CARDIUM ORIGINAL OIL IN PLACE PER SECTION RECOVERY FACTOR 0 to 5,000 Mbbl 0% 5,000 to 10,000 Mbbl 5% 10,000 to 20,000 Mbbl 10% 20,000 to 25,000 Mbbl 15% 25,000+ Mbbl 20% 25% KEY CHARACTERISTICS Pembina is the…
  9. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 9
    CARDIUM LANDS LAND Average working interest 76% Bonterra operates 88.5% of its total production Reserve life index (Proved) 11 years Reserve life index (P+P) 16 years Reserves (P+P) 93.3 MBOE Land position 292 gross (201…
  10. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 10
    PEMBINA ACQUISITION R11 R10 R9 R8 R7 R6 R5W5 DEAL RATIONALE Pembina Cardium Tuck-In T51 Operational Synergy / Facility Consolidation T50 1,800 Boe/d 86% Oil & NGLs T49 7% Decline Reserves (Proved) 9,861 MBOE T48 Reserves…
  11. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 11
    2015 AVERAGE PRODUCTION Base 2015 Capital Acquisition 2015 AVERAGE PRODUCTION 16,000 ESTIMATE (BOE/D) Base Production 9,740 14,000 Cardium Acquisition 1,222 2015 Capital Program 1,905 12,000 Year Average 12,867 10,000 Assumes…
  12. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 12
    CARNWOOD AREA Drilled 2015 Completions 2015 Drills Potential locations Sections: 38 gross (35 net); Locations (6 to 8 wells per section): 300 gross (280 net) 12
  13. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 13
    PEMBINA CARDIUM DEVELOPMENT CONVENTIONAL VERTICAL DEVELOPMENT 4 vertical wells Estimated ultimate oil recovery: 378,000 Bbl Recovery factor: 3.2% 8 HZ WELLS* PER SECTION DEVELOPMENT Estimated ultimate oil recovery: 1,178,000 Bbl…
  14. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 14
    PEMBINA CARDIUM DEVELOPMENT SECTION 13-048-06W5 Original Vertical Wells Horizontal Infill Wells 1,000 100 Recovery Factor = 10.3% BOPD 10 Recovery Factor = 3.2% 1 Jan-10 Jan-15 Jan-20 Month 14
  15. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 15
    AVERAGE BNE CARDIUM ECONOMICS BNE TYPE CURVE 300 Reserves per well (MBOE) 165 250 IP (1 month) (boe/d) 255 200 IP (12 months) (boe/d) 125 BOE/D 150 100 50 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23…
  16. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 16
    SUSTAINABILITY ANALYSIS HIGHLIGHTS SUSTAINABILITY Run Rate Production of 13,000 boe/d Production - 72% Oil & NGLs Run Rate Production boepd 13,000 Decline Rate % 20% Corporate Decline of 20% Annual Production Decline boepd 2,662 -…
  17. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 17
    SUSTAINABILITY ANALYSIS COMMODITY SENSITIVITY Run Rate = 13,000 boepd WTI (USD) /bbl 45.00 50.00 55.00 60.00 65.00 70.00 75.00 80.00 Differential (USD) /bbl 2.00 3.00 3.00 5.00 5.00 7.00 7.00 7.00 Foreign Exchange USD/CAD 0.750 0.750…
  18. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 18
    CARDIUM LOCATIONS Total Inventory Booked Locations Area Name Avg WI% Gross Net Gross Net ROSE CREEK 98.3% 211.5 207.9 16.0 14.3 CARNWOOD 90.9% 180.0 163.6 75.0 71.7 KEYSTONE 97.5% 152.0 148.2 105.0 102.3 WEST PEMBINA 96.7% 118.0 114.1…
  19. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 19
    CURRENT RESERVES CURRENT RESERVES (INCL. CARDIUM ACQUISITION) PDP TP TPP Oil (Mbbl) 29,336 49,007 62,950 Sales Gas (Mmcf) 61,191 114,209 146,830 Liquids (Mbbl) 2,425 4,615 5,866 Total (MBOE) 41,959 72,656 93,288 Product Mix Oil…
  20. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 20
    RESERVES INTERNAL ESTIMATE FULL DEVELOPMENT - INTERNAL ESTIMATED RESERVES PDP* Op Upside Non-Op Upside TOTAL Oil (Mbbl) 30,235 70,631 5,953 106,819 Sales Gas (Mmcf) 72,830 286,973 21,127 380,929 Liquids (Mbbl) 3,112 14,166 1,043 18,321…
  21. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 21
    DRILLING & COMPLETION INNOVATION Total Drill & Complete Cost Per Well 1 mile horizontal 3,000 2,500 D&C COST MM 2,000 1,500 1,000 500 0 2012 2013 2013 2014 2015 MONOBORE DESIGN CEMENTED COMPLETIONS…
  22. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 22
    MANAGING CAPITAL AND CASH FLOW Preserve long term cash flow given market volatility Continued focus on capital and operating cost optimization Capital costs on a per well basis reduced by 25% Operating costs reduced by 14% per BOE…
  23. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 23
    WHY INVEST IN BONTERRA QUALIFIED AND EXPERIENCED STAFF SUSTAINABLE FOCUS ON PER DIVIDEND SHARE GROWTH LARGE INVENTORY CONCENTRATED BONTERRA OF HIGH QUALITY ASSET BASE DRILL LOCATIONS FOCUS ON GOOD ACCESS TO TECHNOLOGICAL…
  24. SEPTEMBER 2015 YIELD GROWTH SUSTAINABILITY – Bonterra Energy Corp – slide 24
    CORPORATE INFORMATION BOARD OF DIRECTORS BANKERS G. J. Drummond CIBC, Calgary, Alberta G. F. Fink National Bank of Canada, Calgary, Alberta R. M. Jarock J. P. Morgan, Calgary, Alberta C. R. Jonsson TD Securities, Calgary, Alberta R. A.…

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