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November 2015 Investor Update – Painted Pony Petroleum Ltd

Painted Pony Petroleum Ltd · Nov 30, 2015 · 34 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. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 1
    Investor Update November 2015
  2. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 2
    Corporate Profile A Strong Intermediate Company Average Daily Production (1) 94.8 MMcfe / day (15,794 boe/d) TSX Ticker Symbol PPY Shares Outstanding (2) 100 million Average Daily Trading Volume 1.2 million shares per day (30…
  3. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 3
    Asset Focus Montney Successfully assembled, explored and de-risked a massive Map area resource play in Northeastern British Columbia 2.9 Tcfe (488 MMboe) Proved Plus Probable Reserves(1) Moving into full development phase…
  4. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 4
    Reserves Growth Impressive and Consistent 4.91 500 2P Reserves per Share 5 Proved Probable 400 4 Reserves Per Basic Share (boe/share) 3.28 Reserves (MMboe) 300 366 3 2.17 1.96 200 2 100 1 0.70 123 0.13…
  5. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 5
    Canadian Natural Gas Reserves As at Dec 31, 2014 2014 Cost of Supply 8,000 30% Increase in 2P Undeveloped Reserves per well 5.1x Recycle Ratio FD&A (2P) 7,000 24% 1.48 2013 FDC/mcfe (1) Canadian Natural Gas 2P Resrves (Bcf)…
  6. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 6
    Reserves Significant Value 2.9 Tcfe Proved + Probable Reserves Dec. 31, 2014(1) 68% Increase in 2P Reserves in 2014 30% Increase in 2P Undeveloped Reserves per well in 2014 24% Decrease in 2P FDC per Mcfe in 2014 to 1.13 (4)…
  7. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 7
    Production Growth Impressive and Consistent 50,000 Annual Average Daily Production per 1 Million Weighted-Average Shares 250 Oil & NGLs 230 Natural Gas 45,000 Q4 2016 Exit Production Q4 2016 Exit 40,000e Boe per day Annual…
  8. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 8
    Well Performance Top Performing Wells Among Montney Producers Painted Pony Average Peak Month Rate Twice Average Comparable Wells 275 7 140 Painted Pony (6.2 MMcf/d) 6 120 2013-2014 Average Peak Month Rate (MMcf/d) 5 100…
  9. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 9
    Risk Management Prudent Downside Protection AECO Financial Hedges Fixed Differential Physical Contracts Volume (1) Price/Mcf % of Q3 2015 Term (MMcf/d) (CAD) Production 2015 2015 Q4 37.9 3.14 43 72% of estimated natural gas…
  10. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 10
    The Montney Trend A Leading North American Gas Play PPYs Montney Sweet Spot is: a tight dolomitic siltstone with higher quality Map area reservoir than a shale 4x thicker than the Marcellus at greater than 300 meters (1,000 ft.)…
  11. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 11
    Land Position Premium Assets in the Optimum Area Large contiguous land base with year-round access 217 Net sections (139,049 net acres) 2nd Largest position in northern Montney west of reduced royalty line High working…
  12. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 12
    Capital Budget 2015 and 2016 2015 Forecast Alaska Highway 107 million Anticipated capital investment Blair 15.0 Total net drills West Alliance Blair Pipeline 5 miles 10.0 Total net completions Cypress Daiber Blair-…
  13. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 13
    Sales Egress Optionality Firm Transportation Supports Increasing Volumes Firm capacity on Spectras T-North pipeline expands from approximately 46 MMcf/d currently to 266 MMcf/d in November 2016 Under terms of expanded firm…
  14. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 14
    Technology Parallel-Pair Completion 26-L (1) 5-K (1) Region of West Completion Blair Blair Enhancement 41-F (1) 300-350 m Inter-well 90-100 m Average 11-F (1) Spacing Fracture Stage Spacing 6-F (Triple) 14-F (1) 44-C…
  15. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 15
    2016 Development Plan & Economics Blair Daiber Development Program Economics 5.9 million Drill, Complete, Equip & Tie-in 9.1 MMcfe/d IP30 Production Rate 15.5 Bcfe 2P Reserves per well 15 bbls/MMcf Liquids Recovery (C3+) 3.0…
  16. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 16
    Improving Capital Efficiencies Blair-Daiber Blair-Daiber Well Economics NPV10 3.0 million IRR* 33% 10 Drilling 2.4 million Completion 2.9 million Equipping 0.6 Million 8 Total Well Cost 5.9 million Producing Rate (MMcfe/d)…
  17. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 17
    2016 Development Plan & Economics Townsend Development Program Economics 5.9 million Drill, Complete, Equip & Tie-in 7.4 MMcfe/d IP30 Production Rate 9.5 Bcfe 2P Reserves per well 60 bbls/MMcf Liquids Recovery (C3+) 3.8…
  18. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 18
    Improving Capital Efficiencies Townsend Townsend Well Economics NPV10 3.8 million 9 IRR* 40% 8 Drilling 2.4 million Completion 2.9 million 7 Equipping 0.6 Million Total Well Cost 5.9 million Producing Rate (MMcfe/d) 6…
  19. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 19
    Development Economics Flat Price Sensitivity 70% Blair-Daiber (15.5 Bcfe Paired Parallel Type Well) 60% Townsend (9.5 Bcfe Single Well 50% Ball-Drop Type Well) 40% IRR 30% 20% 10% 0% 2.25 2.50 2.75 3.00…
  20. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 20
    3-Year Development Model Improved Well Performance Drives Down Well Count 60,000 Improved well performance 700 has reduced the number of 1st AltaGas Townsend Facility wells necessary to meet (48 MMcf/d) Cumulative well count…
  21. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 21
    Development Model Cash Flow Growth Annual Forecast Funds Flow per Previous 5-Year Model 700 Annual Forecast Funds Flow per Updated 5-Year Model Revised Anticipated Annual Capital Budget 647 (previous) Funds Flow Previous Anticipated…
  22. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 22
    Annual Debt to Funds Flow Improved Well Performance Driving Lower Leverage 4 Improved well performance is driving stronger capital 3.8x efficiencies, resulting in less forecasted leverage and a compression of Net Debt to Funds…
  23. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 23
    Prudent Leverage Balance Sheet Strength Maintained Townsend Facility Begins Townsend Facility Operations 150 MMcf/d Increase 48 MMcf/d 2.25 NYMEX Pricing 3.8x 4.0 3.5x 3.1x 3.0 2.4x 2.3x 2.0x 2.2x 2.0 1.7x 1.0 0.0 Q1 2016 Q2…
  24. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 24
    AltaGas Strategic Alliance Deal with People You Trust Liquids-Rich Natural Gas Processing Map area Provides for the development of essential liquids-rich gas processing facilities Market-Competitive Product Pricing Existing…
  25. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 25
    Facilities Key Infrastructure New AltaGas Townsend Facility: Alaska Major new shallow-cut facility Highway 198 MMcf/d gross capacity PPY has secured firm capacity for entire plant Expected completion in mid-2016 Blair West…
  26. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 26
    AltaGas Construction Underway On Time, On Budget Inlet Package 1 on site Inlet Package 2 - building under construction Blair Townsend Pipeline 90% complete 26
  27. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 27
    Proposed West Coast LNG A Long Call Option for PPY Gas Selected Canadian LNG Projects Export Capacity Proposed TransCanada Petronas Shell LNG Canada 3.2 Bcf/d In-service 2019 Proposed Spectra BG Group Petronas Pacific NW LNG…
  28. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 28
    The Best Pony in the Race Premier Montney Asset Base Large, contiguous land position with year-round access, located 100% in B.C. Geological, infrastructure and royalty sweet spot High-rate, liquids-rich, sweet natural gas wells…
  29. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 29
    Appendices & Disclosures 29
  30. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 30
    5-Year Development Model Improved Well Performance Drives Down Well Count 2nd AltaGas The number of 120,000 wells necessary to Townsend Facility 700 (48 MMcf/d) achieve annual 2nd AltaGas production volume Townsend Facility…
  31. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 31
    Proposed West Coast LNG Projects Proposed LNG Projects Capacity Exxon Imperial 4.0 Bcf/d Proposed TransCanada WCC LNG Petronas Shell Petrochina, Mitsubishi, KOGAS 3.2 Bcf/d Proposed LNG Canada Spectra BG Group Nexen / CNOOC…
  32. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 32
    AltaGas Strategic Alliance AltaGas Corporate Profile Calgary-headquartered, Canadian natural gas mid-streamer Currently processing more than 2 Bcf/d natural gas and 70,000 bbls/d NGL Owns over 1,100 km of gas and NGL transmission…
  33. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 33
    Equity Research Analyst Coverage Institution Analyst AltaCorp Capital Patrick ORourke Canaccord Genuity Corp. Anthony Petrucci CIBC World Markets Adam Gill Cormark Securities Inc. Garett Ursu Credit Suisse Securities David…
  34. November 2015 Investor Update – Painted Pony Petroleum Ltd – slide 34
    Corporate Overview Auditor KPMG LLP Evaluation Engineers GLJ Petroleum Consultants Ltd. Banks The Toronto-Dominion Bank The Bank of Nova Scotia Alberta Treasury Branches Canadian Imperial Bank of Commerce HSBC Bank Canada Wells…

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