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October 2015 Corporate Presentation – Canbriam Energy

Canbriam Energy · Oct 20, 2015 · 30 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. October 2015 Corporate Presentation – Canbriam Energy – slide 1
    Canbriam Energy Inc. October 2015
  2. October 2015 Corporate Presentation – Canbriam Energy – slide 2
    Canbriam Energy: corporate overview Overview Asset map Private company started in 2007 and focused on the prolific Montney formation in Northeast BC Q2 2015 average production of 17,753 boe/d (17% liquids) February 2015 processing…
  3. October 2015 Corporate Presentation – Canbriam Energy – slide 3
    Montney: significant well density & offset peer activity Petronas/Progress -Town 30 km Montney Wells Canbriam Energy Montney Shell trend Fort St. John Progress/Petronas ARC Edmonton Encana Calgary CNRL Vancouver…
  4. October 2015 Corporate Presentation – Canbriam Energy – slide 4
    Canbriam: unique geology within prolific Montney resource 4 key attributes of Canbriams Montney asset 1 Over pressured reservoir Up to 2 times over pressured within Main Fault Block Downhole choke strategy enhances EUR, improves…
  5. October 2015 Corporate Presentation – Canbriam Energy – slide 5
    Canbriam: unique geology within prolific Montney resource 4 key attributes of Canbriams Montney asset 2 Subsurface compartmentalization Leads to distinct high pressure regions with consistent well results Main Fault Block…
  6. October 2015 Corporate Presentation – Canbriam Energy – slide 6
    Canbriam: unique geology within prolific Montney resource 4 key attributes of Canbriams Montney asset 3 Significant thickness 4 High liquids content Results in 4 commercial development intervals 2015E liquids yield: 30 - 40…
  7. October 2015 Corporate Presentation – Canbriam Energy – slide 7
    Large drilling inventory supports low-risk production growth Well inventory (net) +34 years of upside 18 years of economic drilling inventory 36 wells / year drilling inventory 936 1622 686 186 318 686 107 40 35…
  8. October 2015 Corporate Presentation – Canbriam Energy – slide 8
    Significant reserves growth with high liquids content 2P Reserve Growth Upper vs. Lower booked locations 2P F&D costs & recycle ratio1 (MMboe) 55 Proved - Probable - Lower , 21 Upper, 25 Probable - Lower, 15 Proved - 226…
  9. October 2015 Corporate Presentation – Canbriam Energy – slide 9
    Stable production history with strong liquids content 140 Natural gas production Inlet Sep 120 Capacity 100 80 mmcf/d 60 40 20 Sept-14: Plant turnaround 0 3,500 Liquids production 80 3,000 70 60 Yield…
  10. October 2015 Corporate Presentation – Canbriam Energy – slide 10
    Development plan focused in the prolific Main Fault Block Daily Raw Gas Production by Well Upper & Lower Montney Development Wells 10,000 9 Bcf type curve (UM) 9,000 8 Bcf type curve (LM) 8,000 7,000 Daily Gas Rate (mcf/d)…
  11. October 2015 Corporate Presentation – Canbriam Energy – slide 11
    Downhole chokes have improved decline rates Advantages of using downhole chokes Altares c-B27-H well - Upper Montney 15.0 30,000 Manages 1st year production declines and 14.0 28,000 fosters stable production 13.0 26,000 Enhances…
  12. October 2015 Corporate Presentation – Canbriam Energy – slide 12
    Low decline supports robust production growth Boe/d Production by well vintage 20,000 2015H1 24% 2014 corporate 2013 decline rate 2012 15,000 2009+2011 Exploratory 10,000 5,000 0 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14…
  13. October 2015 Corporate Presentation – Canbriam Energy – slide 13
    Main Fault Block type well economic sensitivities Montney NPV10 (M) Montney IRR 18,000 100% 16,000 90% 80% 14,000 70% 12,000 60% 10,000 50% 8,000 40% 6,000 30% 4,000 20% 2,000 10% - 0% Nymex 2.50 Nymex 3.50 Nymex…
  14. October 2015 Corporate Presentation – Canbriam Energy – slide 14
    Infrastructure strategy supports large scale development 100% owned and operated infrastructure North Altares facilities Newly commissioned Altares Processing Facility consists of b-72-A gas processing facility and c-62-A water…
  15. October 2015 Corporate Presentation – Canbriam Energy – slide 15
    Altares Processing Facility: scalable to 400 MMcf/d Water treatment & recycling hub Commissioned March 2015 Phase 4: 120 MMcf/d Sanctioning to be determined Phase 3: 120 MMcf/d Sanctioning decision in 2015 Phase 2: 80…
  16. October 2015 Corporate Presentation – Canbriam Energy – slide 16
    Integrated water solution is a strategic advantage Sourcing Canbriam - Altares 20-year permit to access up to 10,000 m3/day of low- cost fresh water from Williston Lake Permitted fresh water supports 1 Bcf/d production Includes…
  17. October 2015 Corporate Presentation – Canbriam Energy – slide 17
    Marketing plan supports long term development Sufficient takeaway capacity: Spectra T North Gas transmission Spectra T North: 209 MMcf/d firm capacity in early 2016 Mile post 73 NGL terminal Actively mitigating unused firm capacity…
  18. October 2015 Corporate Presentation – Canbriam Energy – slide 18
    Hedge positions & composition of total liquids production Natural gas hedges (at June 30, 2015) Liquids hedges (at June 30, 2015) M Gj/d bbls/d 100 3,000 120 96.28 97.35 2,500 80 3.02 3.26 79.40 2,000 80 60 2.45 2.81 1,500…
  19. October 2015 Corporate Presentation – Canbriam Energy – slide 19
    Historical financial summary Average production Netbacks (Mboe/d) 18 Q2 2015 Operating Netback (inc. hedging) 40 14 30 10 23.77 8 20 4 Netback 17.47/Boe 1 10 6.30 2011 2012 2013 2014 Q1 2015 Q2 2015 Adjusted EBITDA(1) 0…
  20. October 2015 Corporate Presentation – Canbriam Energy – slide 20
    Financial strategy is based upon four key elements 2015 capital spending funded Priority is continuing with through 2014 high yield note infrastructure expansion offering, undrawn bank lines Flexibility to reduce capital program…
  21. October 2015 Corporate Presentation – Canbriam Energy – slide 21
    Key investment highlights Prolific EUR/well with 1,100 of Montney vertical thickness on 62,000 (50% liquids rich) net acres 168.6 mmboe of gross 1P Reserves (pre-tax PV10 of 1,449 million)(1) Prolific Montney Resource 280.9 mmboe of…
  22. October 2015 Corporate Presentation – Canbriam Energy – slide 22
    Supplemental information
  23. October 2015 Corporate Presentation – Canbriam Energy – slide 23
    Canbriams integrated development strategy Subsurface & operations Infrastructure Management Canbriams success tied to Processing facilities are 100% Team approach fosters culture early quality differentiation owned & operated of…
  24. October 2015 Corporate Presentation – Canbriam Energy – slide 24
    Experienced Management team has a track record of value creation Years Deep industry experience Paul Myers 25+ President, CEO Robert Froese 25+ Chief Financial Officer Gary Gardiner 30+ Chief Operating Officer John Nieto…
  25. October 2015 Corporate Presentation – Canbriam Energy – slide 25
    Proven ability to manage over pressured reservoir Development plan supported by: 1. Safe operating procedures Plug & Perf is the lowest risk completion technique for over pressured wells Teamwork & experience counts 2. Managed…
  26. October 2015 Corporate Presentation – Canbriam Energy – slide 26
    Illustrative well economics - Upper Montney Illustrative well economics Canbriam development well vs. type curve Main Fault Block (MFB) Upper Montney Drilling locations(1) 284 6,000 Well properties 5,000 Raw gas type curve…
  27. October 2015 Corporate Presentation – Canbriam Energy – slide 27
    Illustrative well economics - Lower Montney Illustrative well economics Canbriam development well vs. type curve Main Fault Block (MFB) Lower Montney 6,000 Drilling locations(1) 149 Well properties 5,000 2 Lower Montney wells…
  28. October 2015 Corporate Presentation – Canbriam Energy – slide 28
    Historical netbacks 2015 2014 2013 Benchmark prices Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Henry Hub (US/mmbtu) 2.64 2.98 4.00 4.06 4.67 4.94 3.62 3.60 4.09 3.35 AECO (/Gj) 2.52 2.60 3.41 3.81 4.44 5.42 3.35 2.30 3.35 3.03 Station 2…
  29. October 2015 Corporate Presentation – Canbriam Energy – slide 29
    Supplemental reserves information Reserves Reconciliation (1) Proved Probable Proved + Probable Natural Gas NGLs Total Natural Gas NGLs Total Natural Gas NGLs Total Bcf MMbbls MMboe Bcf MMbbls MMboe Bcf MMbbls MMboe December 31,…
  30. October 2015 Corporate Presentation – Canbriam Energy – slide 30
    Upper Montney Main Fault Block well data Daily raw gas production by well - Upper Montney Main Fault Block Development wells b-A24-H 10,000 b-B24-H 9,000 c-23-H 8,000 c-27-H c-B27-H 7,000 b-34-H Daily Gas Rate…

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