Growth per debt adjusted share. Real Value Growth YE 2014 the 4 year CAGR /DA share was 57% cash flow & 17% production Predictable rates, multi-well pads, low risk, low Horizontal Production sand, low operating costs, low royalties…
4 Year Cash Flow 4 Year Production CAGR/DA share CAGR/DA share 57% 17% 80% Cash flow growth per DA share 2014/2013 23% Production growth per DA share 2014/2013 Cash flow metric shown is the non-GAAP cash flow from…
5,632 boe/d Others 682 boe/d Q2 2015 production Elk Point Frenchmans 65 Inventory 350 bbl/d Butte (28% booked) 50 bbl/d 98% 20 Inventory (0% booked) Cold flow heavy oil Morgan Celtic 15 million 500 bbl/d 24 Inventory 350…
Q2 2015 Unhedged revenue increased 41% over Improving Prices Q1 2015 49.81/boe Record low 12% royalties, due to Low Royalties horizontal crown holidays and oil prices -5.96/boe Reduced 13% from 2014, Low Op Costs below 20/boe for…
Gear Estimated oil price (WTI WCS Diff) x Exchange 5.00 After some price recovery in Q2, the forecast has weakened for the rest of 2015 and into 2016 Differentials are currently estimated to improve into the fourth quarter of…
Due to reduced oil prices, Gear is being conservative with the 2015 capital program Costs have dropped from 2014 by approximately 25%, helping offset the reduction in oil prices 2015 Budget Reduced from 28MM to 25MM Plan 23 oil…
Assumptions Cash flow sensitivity to WTI oil prices Production 5,500 boe/d WCS Differential 25% Current Q4 Estimates were measured against a wide range of oil prices to highlight the significant Exchange 0.75 CAD/US cash flow growth…
Risked Risked Estimated Per well - Production Capital Capital IP 365 Efficiency 1 Paradise Hill McLaren Hz. 1,000k 60 bbl/d 17,500/boe/d 975k Actual (-3%) = 16,250/boe/d 1 Wildmere Cummings Quad-lateral Hz. (un-lined) 1,450k 80…
Capital execution through 2015 to the end of August has been exceptional Total estimated corporate capital of 10.5 million included drilling 8 wells and performing 20 recompletions Current peak full cycle capital efficiency is…
2.5% of Gear Q2 production 3% Royalty (Crown) 8.20/boe Op costs McLaren Sands 2014 Drill 2015 Drill 2015 Plan Highlights Recent horizontal development in Saskatchewan 2014: 2 well average 77 bbl/d first 9 months 2015: 1…
Upper McLaren Upper and Lower Lower McLaren Future 6.5 Section undeveloped land base Two overlapped sandstones, 3m per zone 2015 plan: drill 4 more horizontals Current potential inventory 2014 Drill 65 McLaren horizontals…
8.5% of Gear Q2 production 1.5% Royalty (Crown) 9.80/boe Op costs Shale Channel Cummings pool 2014 Drills 2015 Drill 2015 Plan Highlights Future Crown land position of approximately 10 sections 2015 plan: drill 3 more…
2014 Drills 2015 Drills 2015 Plan 9% of Gear Q2 production 3% Royalty 11.50/boe Op costs Highlights Future Asset acquired May 2014 250 bbl/d and Extensive Lloyd sand, average 8m pay thickness 32.50/bbl operating costs 2015…
33% of Gear Q2 production 18% Royalty (Freehold) 16.50/boe Op costs Lloyd sand channel Methodic optimization of 2015 un-lined well Lloyd C pool 2014 Drills 2015 Drill Shale channel Highlights Future Gear…
YE 2014 Reserves & Net Present Value of Future Revenues Discounted at 10% under forecasted prices and costs 312% Production replacement with 2014 P+P reserves additions 22% CAGR in P+P reserves since 2011 9% per DA share 24%…
Research Analysts Altacorp Thomas Matthews Cormark Garett Ursu Desjardins Jamie Kubik FirstEnergy Bob Fitzmartyn GMP Aaron Swanson Haywood Darrell Bishop Industrial Alliance Michael Charlston Paradigm Ken Lin Peters and Co Dale Lewko RBC…
Executive Experience Ingram Gillmore VP Engineering - ARC Energy Trust, Talisman President & CEO, Director Yvan Chretien VP Land - ARC Energy Trust, CNRL VP Land Bryan Dozzi Engineering Manager - Gear Energy, Rock Energy Inc. VP…
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