Overview Shares TSX: NBZ Public Float 29.6 million shares / 27% Management (1) 4.8 million shares / 4% NGP / Riverstone 75.6 million shares / 69% Outstanding 110.0 million shares Monthly Dividend 0.04 per share Reserves DOIIP(2)…
Investment Highlights World-Class Oil Resource Base Approximately 2.0 billion bbl DOIIP(1) with 12% recovered to-date Low corporate decline rate of 17% trending lower Long life, low Long reserve life index decline assets 2P = 19…
Low Oil Price Environment Rigorous cost controls Sustainable business model Operating costs decreased by 17% Drilling costs decreased 20 30% Capital allocation Control / minimize capital commitments 10 wells year-to-date versus…
2015 Operating Costs 16.0 2015 annual guidance includes 14.0 operating costs of 17.75/boe, 16% Operating Costs (million) 12.0 lower than costs per boe in 2014 10.0 8.0 Operating costs year-to-date are 6.0 under 17.00/boe…
Oil Production Decline Net Production 23,000 22,000 21,000 bbl/d 20,000 19,000 18,000 17,000 Oil (bbl/d) 12% Decline 17% Decline Actual/Estimated Oil (bbl/d) 50% 45% 40% 35% Average: 29% 30% 25%…
Capital Efficiencies 000s, unless otherwise noted Winter Cactus Lake Coleville Drilling Number of wells drilled in 2014 42 81 40 Actual 2014 average 570 250 402 2015 AFE estimates 395 195 275 Savings % 31 22 31 September 2015 8…
Credit Capacity & Metrics (1) Dec 31, 2014 Dec 31, 2015 Guidance Sensitivity WTI (US/bbl) 93.00 55.00 45.00(4) millions Credit Facility Drawings 67 7 6 Senior Unsecured Notes (principal CAD) 320 348 366 Total Debt 387 355 372…
Cactus Lake September 2015 - 11 - Northern Blizzard Resources Inc.
Cactus Lake Overview Largest Field by Production and Reserves Strong Economics 407 mmbbls DOIIP 9.5% field royalty rate, 2.7% in EOR areas 13% recovered to date 13/bbl operating costs 31 mmbbls 1P, 49mmbbls 2P Sub 10/bbl finding…
Cactus Lake Type Curves Infill Waterflood Type Curve Evaluation -- Rate vs Time 40 35 Calendar Day Oil Rate (bbl/d) 30 25 20 15 10 5 0 Drill Timing Flood Type Section Well Count 0 12 24 36 48 60 2011 Wells WF 35…
Cactus Lake Polymer Update Bakken / Sparky Polymer Performance Update Largest North American non-horizontal polymer flood by injection volumes Phase 3A commissioned March 2015 115 active polymer injectors Average July polymer…
Cactus Lake PF versus WF Production Performance Normalized comparison between polymer flood Oil Rate (PF) and waterflood (WF) areas 35 30 25 Oil Rate (bbl/d) 20 15 10 5 0 0 10 20 30 40 50 Water Rate 700 600…
Cactus Lake Reduced Operating Costs, Strong NOI(1) 2015 annualized production growth Average Daily Production and Operating Costs achieved through: 10,000 25 Polymer response 9,000 8,000 20 2014 infill program flush 7,000…
Cactus Lake Infill Drilling Opportunity 315 wells drilled since 2010; 330 inventory locations DOIIP in remaining sections forecast to be marginally less Cactus Drilling Inventory 350 compared to developed areas 300 Infill production…
Cactus Lake Cost Structure Per well capital analysis 7% cost reduction per well estimated versus 2014 actuals 22% reduction in drilling costs No significant cost reductions anticipated in completions, equipping or flowlining Major…
Cactus Lake Polymer Flood vs Waterflood Economics Polymer flood economics highlight: 60% improvement in reserves 90 BT ROR Sensitivity to Wellhead Price 15% improvement in NPV 80 70 Strong F&D 60 No degradation of ROR% BT…
Winter September 2015 - 20 - Northern Blizzard Resources Inc.
Winter Overview Largest field by oil in place +600 mmbbls DOIIP 7.5% recovered to date 14 mmbbls total proved reserves 22 mmbbls proved plus probable reserves Production NBRI 600+ Million Barrels +3,400 bbl/d estimated for 2015…
Winter Value Creation Repeatable Horizontal Drilling 25m horizontal development has been technically validated NBRI has identified 415 (293.0 net) horizontal locations at an interwell spacing of 25m which represents a 10 year…
Winter Cost Structure Per well capital analysis 13% cost reduction per well estimated versus 2014 actuals 31% reduction in drilling costs No significant cost savings anticipated in completions, equipping or flowlining Winter Well…
Winter Infill Type Well Economics Without Facilities Reductions in capital and operating costs allow for equivalent ROR to be achieved in a reduced price environment ROR has significantly increased since Q1 2015 due to…
Winter Infill Type Well Economics With Facilities In years of minimal activity (2015), wells can be drilled and legacy wells shut-in as opposed to building facilities To provide growth and accommodate large drilling programs…
Winter Reduced Operating Costs, Strong NOI(1) Operating costs continue to Average Daily Production and Operating Costs decline as production 4,500 27.00 stabilizes 4,000 24.00 3,500 21.00 3,000 18.00 Production decline 2,500…
Coleville September 2015 - 27 - Northern Blizzard Resources Inc.
NBRI Coleville Viking 10,000 Acres in Proven Fairway Saskatchewan Viking Company Land September 2015 - 28 - Northern Blizzard Resources Inc.
Coleville Drilling Coleville Smiley 43 wells drilled to date 359 total locations 116 drilling locations recognized in independent reserves report Coleville Whiteside September 2015 - 29 - Northern Blizzard Resources Inc.
Coleville Well Performance Average type well performing above type curve Type wells improving due to well placement, stimulation and field operations 2016 forecast plan will test all areas to define multiple type curves 100 Q1…
Coleville Type Well Economics 160% 147% Estimated (000) 140% 2014 Single Well Incl. Gas Per Well Costs Actual Battery Conservation Drill 387 285 285 132% Complete 422 385 385 120% Equip 242 160 160 *Gas Conservation - 71…
Production Growth from Cactus Lake, Winter & Coleville 14,000 Year-to-Date 12,000 Average Daily Production Volumes (boe/d) 10,000 8,000 6,000 4,000 2,000 0 2011 2012 2013 2014 1) Compounded annual growth…
SAGD Review September 2015 - 33 - Northern Blizzard Resources Inc.
SAGD Development Repeatable Opportunities Large oil in place Strong economics Technology-driven recovery Significant advantages from existing Long life assets infrastructure Est DOIIP 150 mmbbls September 2015 - 34 - Northern…
Plover North SAGD Potential Development Plan Pad A 4 operating well pairs Expand Existing Facility 1 near term expansion pair 3,000 bbl/d oil Future infill options 9,000 bbl/d steam Pad B 2 near term expansion pairs Additional…
Plover North SAGD Expansion Concept Economics 100 90 80 Includes Facility + Well Pair Expansion 70 60 Before Tax ROR 50 40 30 20 10 0 30 40 50 60 70 80 90 Wellhead Price (/bbl) Pad A Expansion - 1…
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