CORPORATE PRESENTATION December 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: 153.3 million Debt capacity: 300 million GRANDE PRAIRIE 2016 Guidance WAPITI Production: 24,500 26,000…
NVA Principles and 2016 Guidance Focused on the Long Term Maintain Balance Sheet Profitable Growth Tuned Reducing Costs & Strength to Market Environment Improving Performance Debt to Cashflow ceiling Short term pace of spend Well…
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 Industry Drilling and Production growth continues Elmworth to Kakwa Montney HZ Activity Update* High level of industry activity continues 500 Montney HZ wells licensed and/or drilled to date…
Relentless Improvement Efficiency and Well Costs Montney Well Cost (DCET) By Year Average Annual Montney Drilling Curves 12 0 2013 2014 2015 Fastest Well to-date 10 1000 8 2000 Depth (m) 3000 (M) 6 4000 4 Fastest…
Relentless Improvement Well Performance Bilbo Type Curve Progression Elmworth Type Curve Progression 400 400 2013 Type Curve (4.4 Bcf; 35 Bbls/MMcf) 2013 Type Curve (4.4 Bcf; 35 Bbls/MMcf) 2014 Type Curve (4.4 Bcf; 45 Bbls/MMcf) 2014…
2016 Guidance Agility in Capex Reduction 2015 Capital Expenditures (MM) 2016 Capital Expenditures (MM) DCET & Well Optimization 13 8 Facilities & Water Mgmt 8 10 Maintenance 16 Corporate & Other 66 Development 196 118…
Development Block Economics Optimizing locations in low price environment Anticipating 25% improved capital efficiency in 2016 2015 Type Curves and Well Costs 2016 Locations Inputs Bilbo Dev. Elmworth Dev. Optimizing locations Inputs…
Montney Operations Activity Update R8W6 R6W6 2016 Focus on Capital Efficiency Pipestone T70 52 wells on production by end 2015 up from Elmworth 9 Wells Producing in the Development Block (IP30) 33 wells at end of 2014 3 Elmworth…
Montney Delineation Large Portfolio of Development Opportunities 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 and…
Elmworth Development Block Activity Ramping-up in 2016 4.4 bcf Type Curve 6 bcf Type Curve NVA Montney IP30's First 3 NVA Wells Last 4 NVA Wells (Big Fracs) NVA In-Progress Wells 10 Montney Horizontal Wells Cumulative-to-Date 9…
Bilbo Development Block Focus on Efficient Production Additions in 2016 Typecurve Liquids (Boe/d) Typecurve Sales Gas (Boe/d) Avg Production (Boe/d) Avg Liquids (Boe/d) 1,800 36 Cumulative-to-Date Bbls/MMcf 1,500 30 T66 5…
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 NuVista (50%) North gas plant now complete & online…
Wapiti Montney Processing Capacity Firm Capacity with TOP flexibility built in All products have virtually 100% FIRM downstream take-away 2016 Montney Production 20,000 Boe/d 15,000+ Boe/d of future growth capacity in place 200…
Commodity Price Risk Management We are well hedged Crude Oil Hedge Position 5,000 100.00 4,000 90.00 Hedged Volume, Bbl/d 3,000 80.00 Floor C WTI price of Price, C/Bbl 81.82/Bbl on 46% of 2,000 70.00 2016 net…
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 21,622 Q115 23,215 22,000 - 23,000 20,000 17,823…
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 No material unutilized TOP cost concerns Growth…
APPENDIX December 2015 19
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…
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 (Oct 27, 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…
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) T69 Delineation 5.8 261 45 Type…
Lower Montney Activity NuVista Data Collection In Progress R9W6 R7W6 R5W6 R3W6 Multiple pilot wells in progress by T70 Pipestone industry Early Production Data NVA 15-13-68-7W6 Vertical Emerging Over-pressured 133 Bbls/MMcf…
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