CORPORATE PRESENTATION SEPTEMBER 2015 All amounts in Canadian dollars unless indicated otherwise
NuVista Snapshot NuVista Corporate Info TSX trading symbol: NVA Market capitalization: 0.8 billion Basic shares outstanding: 152.8 million Debt capacity: 300 million GRANDE PRAIRIE 2015 Guidance WAPITI Production: 22,500 24,000…
The Key Tenets of NuVista's Focused and Disciplined Approach Creating Long-Term Shareholder Value by: Keeping our balance sheet strong Growing production and cashflow profitably, developing our large resource base Focusing on firm…
The Alberta Condensate-Rich Montney A sweet spot in a world class play 1. Scalable/Repeatable Deposition on the shelf edge not isolated pockets Gas charged top to bottom Over-pressured low water saturation High Quality 2. Porous…
The Alberta Condensate-Rich Montney Production growth and drilling are continuing.. Elmworth to Kakwa Montney HZ Activity Update* High level of industry activity continues T70 500 Montney HZ wells licensed and/or drilled T69 to…
Reserve and Contingent Resource Significant delineation of resource and conversion to reserves* Middle Montney 'C' Middle Montney 'B' Discovered: 71,894 Acres (112 sections) 50% of Total Gross Acres Discovered: 114,225 Acres (178…
Montney Delineation Update Portfolio of Development Opportunities Expanding NVA Producing Montney NVA In-Progress Wells New Block SW of Elmworth is Emerging Montney HZs Three successful step-out results Encouraging initial gas rates…
Gold Creek Development Area Emerging Encouraging Results over a 35 km trend covering 25% of our landbase IP30 Gas IP30 C5+ IP30 CGR Well IP Date Status 04-24 test (MMcf/d) (Bbls/d) (Bbl/MMcf) Delineation 5.8 261 45 Type Curve…
New Development Block SW of Elmworth Emerging High gas rates and indicated EUR's Extension of condensate window NVA Montney IP30's NVA In-Progress Wells IP IP30 Gas IP30 C5+ IP30 CGR Well Status Montney Horizontal Wells Date (MMcf/d)…
Bilbo Development Block Extension IP30 of 2,150 Boe/d and 975 Bbl/d C5+ from South Step-out 16-10 Step-out* Gas Rate (mcf/d) Casing 4.4 bcf Type Curve CGR (bbl/mmcf) 16,000 200 14,000 175 12,000 150 CGR (bbl/mmcf) 10,000…
Montney Performance South Block (Bilbo) Outperforms 1,800 24 Bilbo Production Rates (Boe/d) Cumulative-to-Date Bbls/MMcf IP30 IP90 IP180 IP360 1,500 Condensate 55 20 Bilbo Type 1,366 1,066 841 626 Butane Curve 2013 & Prior…
Montney Performance North Block (Elmworth) Outperforms 4.4 bcf Type Curve 6 bcf Type Curve First 3 NVA Wells Last 4 NVA Wells (Big Fracs) 10,000 Elmworth Production Rates (Boe/d) Cumulative-to-Date Bbls/MMcf 9,000 IP30 IP90 IP180…
Development Block Economics Optimizing locations in volatile times Anticipating 15-20% improved capital efficiency in 2016 2015 Type Curves and Well Costs 2016 Locations Inputs Bilbo Dev. Elmworth Dev. Optimizing locations Inputs Bilbo…
Wapiti Montney Firm Egress Counts Built-in growth with generous capital flexibility in the short term and multiple options for the long term Pipeline loop to existing SemCAMS K3 gas plant now complete & online NuVista (50%) North…
Wapiti Montney Processing Capacity Firm Capacity and line-of-sight to long term growth with TOP flexibility built in Firm Egress Counts: Virtually all Raw TOP Contracts also have FIRM downstream take-away Wapiti Montney Raw Gas…
Commodity Price Risk Management We are well hedged Crude Oil Hedge Position Hedged Volume, Bbl/d 4,000 100.00 WTI Price, C/Bbl 3,000 90.00 Floor C WTI price 2,000 80.00 92.99/Bbl on 61% of 2015 Q3-Q4 net prod 1,000…
NuVista Operating Results 2015 Guidance Unchanged Corporate Production (Boe/d) Actual Production Guidance Wapiti Montney Other Properties (Boe/d) (Boe/d) 25,000 23,165 23,215 21,448 Q115 23,215 22,000 - 23,000 20,000 17,823 18,030…
NuVista: Looking Forward Flexibility and Strength in a volatile environment Balance sheet comes first Top plays win at any price Focused capital discipline & reducing unit costs Growth despite muted spending Hedging strong downside…
APPENDIX September 2015 19
Montney D&C - Completions Focused on optimizing recovery NuVista's Completion Process Open-hole completion with ball-drop frac technology Large volume slickwater fracs Longer Laterals With More Frac Intervals Manage risks of greater…
2014 Year-end Reserves Report 2014 Year-end Reserves Report GLJ Petroleum Consultants Ltd. Montney DPIIP increased by 63%* PDP reserves volume increased 61% before production and dispositions, or 20% after Montney TP+PA reserves…
Montney DPIIP Summary On the rise Discovered Petroleum Initially-In-Place(1) * See Appendix for Cumulative Production(2) 0.03 Tcfe important disclosures Reserves (Proved Plus Probable)(2)(3) 1.10 Tcfe regarding Reserves and…
Condensate Pricing Strong demand and premium price for the long term Western Canadian Condensate Pricing Condensate is used in Alberta as a diluent to ship heavy oil on pipelines Condensate in Alberta is typically priced at a…
Montney IP30's 2015 & Historical year averages Well IP30* Cumulative to date (Aug 4, 2015) CGR CGR Cumulative Raw Gas Condensate Total Sales Days on Condensate Total Bbl/MMcf Bbls/MMcf Sales Gas (MMcf/d) (Bbls/d) (Boe/d) Prod.…
Focus on Wapiti Our lands contain the Montney with the bonus of significant Deep Basin uphole potential Acres 000's Nikanassin Dunvegan Cadomin MONTNEY Falher FAIRWAY DUNVEGAN CADOTTE NOTIKEWIN Gross 94 114 111…
Lower Montney Activity NuVista data collection in progress Multiple pilot wells in progress by Pipestone industry Early Production Data NVA 15-13-68-7W6 Vertical Emerging Over-pressured 133 bbls/mmcf condy Elmworth NuVista has…
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