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October 2015 Corporate Presentation – Delphi Energy Corp.

Delphi Energy Corp. · Oct 17, 2015 · 33 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 – Delphi Energy Corp. – slide 1
    CORPORATE PRESENTATION OCTOBER 2015
  2. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 2
    DELPHI: CORPORATE DEEP BASIN NORHWEST ALBERTA CORPORATE INFO Trading Symbol TSX:DEE Dawson Creek Basic Shares Outstanding 155.5 million Hythe Market Capitalization 121 million Grande Prairie Q2 2015 Production 10,210 boe/d…
  3. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 3
    A MONTNEY FOCUSED SUSTAINABLE BUSINESS MODEL Delphis Bigstone Montney remains a Top Tier growth asset: Maintains favorable economics in the current commodity price environment Well payouts remain attractive at 1.4 years on current…
  4. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 4
    EVOLUTION OF THE WORLD-CLASS MONTNEY PLAY Elmworth Large data set 488 Montney wells on production Wapiti Delphi Kakwa Bigstone Source of Data: geoSCOUT October 2015 5
  5. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 5
    EVOLUTION: PACE OF DRILLING ACCELERATING Producing Wells by Rig Release Date Drilling remains active with 106 Montney Total Wells: 488 wells rig released YTD 2015 200 Only 10 wells reporting Montney 150 production as of the date of…
  6. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 6
    EVOLUTION: WELL LENGTH INCREASING 180 Number of Wells 3,000 Average Horizontal Length (m) 160 Delphi Ave 2,500 140 120 2,000 100 1,500 80 60 1,000 40 500 20 0 0 0-1,000 1,001-1,500 1,501-2,000 2,001-2,500 2,501-3,000…
  7. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 7
    EVOLUTION: FRAC STAGES INCREASING Number of Wells Average Number of Frac Stages/Well 160 30 Delphi Ave 140 25 120 20 100 80 15 60 Evolution of frac design/recipe 10 40 has also had a significant 20 5 positive impact to…
  8. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 8
    EVOLUTION: WELL PRODUCTIVITY INCREASING IP90 (mcf/d) IP180 (mcf/d) 4,500 15 18 441 wells 4,500 17 362 wells 4,000 19 60 36 4,000 14 46 3,500 59 3,500 18 30 48 33 38 3,000 3,000 25 2,500 66 2,500 36 18 55 2,000 2,000 15 1,500…
  9. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 9
    EVOLUTION: DELPHI INDIVIDUAL WELL DATA Initial Production (IP) Rate Well Performance (1) Number IP30 IP30 IP30 IP90 IP180 IP270 IP365 HZ Length of Fracs Total Sales FCond Rate Total NGL Total Sales Total Sales Total Sales Total Sales…
  10. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 10
    PETERS & CO LIMITED: TOP 100 WELLS of wells in Total of % in Top Company Top 100 wells 100 Sinopec Daylight 1 3 33% Delphi 13 15 87% Seven Generations 33 55 60% XTO Energy 2 10 20% NuVista 13 31 42% 13 of 15 Delphi Horizontal…
  11. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 11
    EVOLUTION: DRILLING EFFICIENCY GAINS Average Spud to TD (days) 60 Over a 5 year period, 50 industry improved overall 40 drilling penetration rates 30 by over 50%. 20 10 0 Fewer days = lower costs Average Penetration…
  12. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 12
    EVOLUTION: DELPHI WELL COST IMPROVEMENTS D&C Costs ( 000) DEE Well Costs Cost per Frac Stage (000) Montney Capital Efficiencies 12,000 Avg. Drill Costs Avg. Comp. Costs Avg. Comp. /Stage 700 10,000 600 Average drilling and…
  13. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 13
    EVOLUTION: DELPHI OPEX AND CONDY YIELDS Montney Costs (/boe) Montney Operating Costs 16.00 Op Costs Transportation Operating costs being reduced as a result of 14.00 12.00 economies of scale, processing arrangements 10.00 and…
  14. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 14
    BIGSTONE MONTNEY: PRODUCTION GROWTH Montney Production (boe/d) 8,000 124% Growth in 2014 6,000 vs 2013 4,000 2,000 Montney Production Still Growing in 2015 0 Eleven fold increase in Montney production from 2012 2013 2014 1H…
  15. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 15
    BIGSTONE MONTNEY: RESERVES GROWTH Montney Reserves (P+P) 50,728 Montney Development Significant growth across all categories in Montney 33,100 22,729 reserves Probable (mboe) Proved (mboe) 124% growth in Proved Developed Producing…
  16. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 16
    BIGSTONE MONTNEY: STRATEGIC INFRASTRUCTURE Rge25W5 Delphi owns Rge24 significant infrastructure at Rge23 Rge22 Rge19 Rge18 SemCAMS KA TCPL Bigstone 100% owned 50 mmcf/d sour dehy and Alliance compression facility 26% ownership in…
  17. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 17
    BIGSTONE MONTNEY: STRATEGIC INFRASTRUCTURE Delphi 100% owned Water Disposal Facility 3 million project Less than 1 year payout Targeted operating costs savings of: 2.0 to 2.5 million per year or 0.75 per Montney boe Targeted…
  18. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 18
    BIGSTONE MONTNEY: ALLIANCE FIRM SERVICE Delphis operations are located in the most active corridor of the Deep Basin (Montney and Duvernay) and the significant increase in area volume deliverability has constrained market access for…
  19. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 19
    DELPHI: HEDGES PROTECTING CASH FLOW Natural Gas (Cdn) Dec 2015 2016 2017 Volume (mmcf/d) 4.7 2.8 2.4 % Hedged (1) 15% 9% 8% Fixed Price (Cdn /mcf) 3.95 3.64 3.96 Strip Price (Cdn /mcf) 2.58 2.65 2.98 Natural Gas (US) Dec 2015 2016…
  20. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 20
    DELPHI: HEDGES PROTECTING CASH FLOW 30.0 Cumulative hedge gains of 9.00 74.9 million. Well hedged 25.0 7.50 through 2018 to protect cash 20.0 flow and well economics. 6.00 15.0 4.50 10.0 3.00 5.0 1.50 0.0 0.00 2006 2007…
  21. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 21
    BIGSTONE MONTNEY: DOMINANT LAND POSITION Montney land position has grown to 138.5 gross (117.1 net) sections since 2010 Delphi one of the largest Montney landowners on map sheet Continue to pursue additional Montney…
  22. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 22
    BIGSTONE MONTNEY: 21 WELLS DRILLED Drilled 3 HZ wells in 2012 To KA Sour Two mile HZs with laterals of 2,200 Plant m to 3,000 m DEI ATH 12-27 10-27 16-30 Fracd using conventional gelled oil 4 wells 3 wells frac designs 15-21…
  23. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 23
    WEST BIGSTONE: ADDITIONAL MONTNEY UPSIDE New Athabasca well West Bigstone Montney: producing 120 27 sections (100% WI) Athabasca well drilled and bbl/mmcf condensate Upper and middle Montney thicken completed Natural gas is…
  24. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 24
    DELPHI: 2015 GUIDANCE 2015 Guidance Post Wapiti Disposition Average Annual Production (boe/d) 9,800 10,200 Exit Production Rate (boe/d) 10,000 11,000 AECO Natural Gas Price (Cdn per mcf) 2.75 WTI Oil Price (US per bbl) 54.00…
  25. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 25
    DELPHI: SUMMARY Bigstone Montney is a Top Tier growth asset: Large Montney land base of 139 sections Favorable economics and attractive capital efficiencies Remains economic in the trough of the commodity price cycle Hedges in place…
  26. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 26
    APPENDIX 27
  27. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 27
    BIGSTONE MONTNEY: ASSEMBLED 139 SECTIONS East Bigstone: 79 sections Held 4 sections of legacy Montney rights below existing DEE production West Bigstone: 27 sections Added 12 sections of Montney rights through acquisition and…
  28. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 28
    BIGSTONE MONTNEY: PLAY EVOLUTION East Bigstone Development/Manufacturing Mode +100 Locations East Bigstone 22 producing wells West Bigstone Upper Montney +100 Locations Area of Focus Fir 10 producing wells West…
  29. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 29
    DELPHI: PRODUCTION GROWTH 2015 YTD Production 10,604 boe/d Montney Production still growing in 2015 Hythe Eleven fold increase in Montney production from 800 boe/d Bigstone Cretaceous in Feb 2013 to over 8,000 boe/d in Nov 2014…
  30. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 30
    DELPHI: RESERVES GROWTH Growth in Montney Reserves 25% PDP 42% PDNP 2% PUD 31% PA 74,368 31,434 Probable (mboe) Proved (mboe) Montney Development 61,662 Reserves /1,000 shares 25,520 124% growth in PDP reserves over…
  31. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 31
    NOTES ________________________________________________________ ________________________________________________________ ________________________________________________________…
  32. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 32
    NOTES ________________________________________________________ ________________________________________________________ ________________________________________________________…
  33. October 2015 Corporate Presentation – Delphi Energy Corp. – slide 33
    300, 500 4th Avenue SW Calgary, Alberta T2P 2V6 P (403) 265-6171 F (403) 265-6207 infodelphienergy.ca www.delphienergy.ca 34

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