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December 2015 Investor Presentation – Canbriam Energy

Canbriam Energy · Dec 15, 2015 · 31 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. December 2015 Investor Presentation – Canbriam Energy – slide 1
    CANBRIAM ENERGY INC. CORPORATE PRESENTATION DECEMBER 2015
  2. December 2015 Investor Presentation – Canbriam Energy – slide 2
    Canbriam Energy A fully integrated, BC Montney natural gas growth company with differentiated resource quality Private company focused in the Altares region of the prolific Montney formation in northeast Montney trend BC Fort St.…
  3. December 2015 Investor Presentation – Canbriam Energy – slide 3
    The BC Montney has significant offset well density & peer activity Canbriams Altares is located in the northern extension of the prolific BC Montney Montney Wells 30 km Canbriam Energy Montney trend Petronas/Progress -Town Shell…
  4. December 2015 Investor Presentation – Canbriam Energy – slide 4
    Differentiated resource quality in the BC Montney Four key attributes that differentiate the Altares Montney 1. Over pressured reservoir Up to 2 times over pressured within Main Fault Block Downhole choke strategy enhances EUR,…
  5. December 2015 Investor Presentation – Canbriam Energy – slide 5
    Differentiated resource quality in the BC Montney Four key attributes that differentiate the Altares Montney 2. Subsurface compartmentalization Leads to distinct high pressure regions with consistent well results North Fault…
  6. December 2015 Investor Presentation – Canbriam Energy – slide 6
    Differentiated resource quality in the BC Montney Four key attributes that differentiate the Altares Montney 3. Significant thickness 4. Strong liquids component Several zones have been tested three intervals have 2015E liquids…
  7. December 2015 Investor Presentation – Canbriam Energy – slide 7
    Drilling inventory supports low-risk production growth Represents 20 years of well inventory at current pace of development +34 years of upside 20 years of economic drilling inventory 32 wells / year drilling inventory 936…
  8. December 2015 Investor Presentation – Canbriam Energy – slide 8
    Significant reserves growth with high liquids content Canbriams 2P bookings reflect strong well performance and recognition of 2nd target within Upper Montney 2P Reserve growth 2P F&D costs & recycle ratio (1) 25 3.2 3.5 55 2.7…
  9. December 2015 Investor Presentation – Canbriam Energy – slide 9
    Stable production history with strong liquids content Canbriams production growth reflects addition of phase 1 of the Altares Processing Facility in early 2015 140 Inlet Sep Natural gas production 120 Capacity 100 80…
  10. December 2015 Investor Presentation – Canbriam Energy – slide 10
    Development plan focused in the prolific Main Fault Block Canbriams Main Fault Block is substantially de-risked and represents the majority of the next 5 years development Daily Raw Gas Production by Well Upper & Lower Montney…
  11. December 2015 Investor Presentation – Canbriam Energy – slide 11
    Optimizing well performance through choke management strategy Canbriams use of downhole chokes optimizes its over-pressured reservoir Altares c-B27-H well - Upper Montney Advantages of downhole chokes: 15.0 30,000 Minimizes 1st…
  12. December 2015 Investor Presentation – Canbriam Energy – slide 12
    Improving decline rates through choke management Maintenance capital requirement is 50-60 million annually for 25,000 boe/d of production Production by well vintage 24% 20,000 2015H1 corporate 2014 decline rate 2013 2012…
  13. December 2015 Investor Presentation – Canbriam Energy – slide 13
    Main Fault Block type well economic sensitivities Type wells demonstrate strong economic returns under different pricing scenarios Montney NPV10 (M) Montney IRR 18,000 100% 16,000 90% 80% 14,000 70% 12,000 60% 10,000 50%…
  14. December 2015 Investor Presentation – Canbriam Energy – slide 14
    Infrastructure strategy supports large scale development Canbriam owns & operates all processing infrastructure 100% owned & operated infrastructure: North Altares facilities Altares Processing Facility consists of: b-72-A gas…
  15. December 2015 Investor Presentation – Canbriam Energy – slide 15
    Altares Processing Facility: scalable to 400 MMcf/d Canbriam owns & operates all processing infrastructure Water treatment & recycling hub Commissioned March 2015 Phase 4: 120 MMcf/d Sanctioning to be determined Phase 3: 120…
  16. December 2015 Investor Presentation – Canbriam Energy – slide 16
    Integrated water solution is a strategic advantage Expected to save 0.8 MM per well in water handling costs Three elements to Canbriams water c-62-A water handling & recycling facility strategy: 1. Sourcing Pond A 20 year permit…
  17. December 2015 Investor Presentation – Canbriam Energy – slide 17
    Marketing plan supports long term development Canbriam benefits from competitive royalties, supportive stakeholders and easily accessible infrastructure Sufficient takeaway capacity: Spectra T North Gas transmission Spectra T North:…
  18. December 2015 Investor Presentation – Canbriam Energy – slide 18
    Four key elements to Canbriams financial strategy Disciplined approach to financial management Priority is continuing with 2015 capital spending funded infrastructure expansion through 2014 high yield note offering, undrawn bank…
  19. December 2015 Investor Presentation – Canbriam Energy – slide 19
    Historical financial summary Netbacks reflect improving cost structure and production growth Average production Adjusted EBITDA(1) 83.0 83.1 17.0 (Mboe/d) 15.8 (C millions) 66.0 9.6 7.8 23.0 4.2 4.0 2012 2013 2014 H1 2015…
  20. December 2015 Investor Presentation – Canbriam Energy – slide 20
    Delivering high cash margins Canbriams low cost structure & robust hedge positions drive solid margins despite low commodity prices 40 95% 85% 69% 65% 75% 56% 55% 65% 30 43% 55% 58% 45% 51% 32% 33% 28% 35%Hedging gains…
  21. December 2015 Investor Presentation – Canbriam Energy – slide 21
    Hedge positions & composition of total liquids production Actively hedging commodity price risk through disciplined risk management Natural gas hedges (at November 4, 2015) Liquids hedges (June 30, 2015) 100 3,000 120 96.28 97.35…
  22. December 2015 Investor Presentation – Canbriam Energy – slide 22
    Investing in Canbriam Energy A fully integrated, natural gas growth company with differentiated resource quality Prolific EUR/well with 1,100 of Montney vertical thickness on 62,000 (50% liquids rich) net acres 168.6 MMboe of gross…
  23. December 2015 Investor Presentation – Canbriam Energy – slide 23
    SUPPLEMENTAL INFORMATION 23 Canbriam Energy Corporate presentation
  24. December 2015 Investor Presentation – Canbriam Energy – slide 24
    Canbriam has the foundation for long term value creation Our approach is defined by three key elements Resource Innovation Collaboration Montney is a world class reservoir Canbriams success is tied to early Team approach fosters…
  25. December 2015 Investor Presentation – Canbriam Energy – slide 25
    Canbriam Energy Management An experienced team with a track record of value creation Paul Myers Founder and CEO since company inception in 2008 President and Chief Formerly President & CEO of Esprit Energy Trust, prior to…
  26. December 2015 Investor Presentation – Canbriam Energy – slide 26
    Proven ability to manage over-pressured reservoir Canbriams Altares Montney is up to 2 times over-pressured Development plan supported by: 1. Safe operating procedures Plug & Perf is the lowest risk completion technique for over…
  27. December 2015 Investor Presentation – Canbriam Energy – slide 27
    Type curve economics Upper Montney Canbriams Upper Montney wells have exceeded type curve performance Drilling locations(1) 284 6,000 Well properties Raw gas type curve (Bcf)(2) 9.0 5,000 Sales gas (Bcf)(3) 8.2 Raw Gas…
  28. December 2015 Investor Presentation – Canbriam Energy – slide 28
    Type curve economics Lower Montney Lower Montney performance reflects over-pressured reservoir Drilling locations(1) 149 6,000 Well properties 5,000 Raw gas type curve (Bcf)(2) 8.0 Sales gas (Bcf)(3) 7.3 Raw Gas Production Rate…
  29. December 2015 Investor Presentation – Canbriam Energy – slide 29
    Historical netbacks Canbriams low cash costs drive solid margins 2015 2014 2013 Benchmark prices Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Henry Hub (US/MMbtu) 2.77 2.64 2.98 4.00 4.06 4.67 4.94 3.62 3.60 4.09 3.35 AECO (/Gj) 2.75 2.52 2.60…
  30. December 2015 Investor Presentation – Canbriam Energy – slide 30
    Supplemental reserves information 2014 Independent reserves evaluation completed by McDaniel & Associates Reserves Reconciliation (1) Proved Probable Proved + Probable Natural Gas NGLs Total Natural Gas NGLs Total Natural Gas NGLs…
  31. December 2015 Investor Presentation – Canbriam Energy – slide 31
    Upper Montney Main Fault Block well performance Canbriams near term development plan is focused primarily in the Main Fault Block Daily Raw Gas Production by well - Upper Montney Main Fault Block Development Wells b-A24-H 10,000…

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