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December 2015 Investor Presentation – Painted Pony Petroleum Ltd

Painted Pony Petroleum Ltd · Jan 18, 2016 · 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. December 2015 Investor Presentation – Painted Pony Petroleum Ltd – slide 1
    Investor Update December 2015
  2. December 2015 Investor Presentation – 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 Daily Trading Volume 1.7 million shares per day (30 day…
  3. December 2015 Investor Presentation – Painted Pony Petroleum Ltd – slide 3
    Asset Focus Montney Successfully assembled, explored and de-risked a massive resource play in Northeastern British Columbia 2.9 Tcfe (488 MMboe) Proved Plus Probable Reserves(1) Moving into full production and funds flow growth…
  4. December 2015 Investor Presentation – 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. December 2015 Investor Presentation – 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 Reserves (Bcf)…
  6. December 2015 Investor Presentation – 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. December 2015 Investor Presentation – 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 Q4 2016 Exit Production 40,000e Boe per day Annual…
  8. December 2015 Investor Presentation – 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. December 2015 Investor Presentation – 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. December 2015 Investor Presentation – 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 reservoir than a shale 4x thicker than the Marcellus at greater than 300m (984 ft) 300 meters…
  11. December 2015 Investor Presentation – 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 interest…
  12. December 2015 Investor Presentation – Painted Pony Petroleum Ltd – slide 12
    Capital Expenditures 2015 and 2016 2015 Forecast Alaska Highway 107 million Anticipated capital investment Blair 15.0 Total net drills West Alliance Blair Pipeline 5 miles 9.0 Total net completions Cypress Daiber Blair-…
  13. December 2015 Investor Presentation – 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. December 2015 Investor Presentation – 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. December 2015 Investor Presentation – Painted Pony Petroleum Ltd – slide 15
    Improving Capital Efficiencies Blair-Daiber 10 Blair-Daiber Well Economics 9 NPV10* 3.0 million IRR* 33% 8 Drilling 2.4 million 7 Completion 2.9 million Equipping 0.6 Million Producing Rate (MMcfe/d) 6 Total Well Cost…
  16. December 2015 Investor Presentation – Painted Pony Petroleum Ltd – slide 16
    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…
  17. December 2015 Investor Presentation – Painted Pony Petroleum Ltd – slide 17
    Improving Capital Efficiencies Townsend 10 Townsend Well Economics 9 NPV10* 3.8 million IRR* 40% 8 Drilling 2.4 million 7 Completion 2.9 million Equipping 0.6 Million Producing Rate (MMcfe/d) 6 Total Well Cost 5.9…
  18. December 2015 Investor Presentation – Painted Pony Petroleum Ltd – slide 18
    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…
  19. December 2015 Investor Presentation – 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. December 2015 Investor Presentation – Painted Pony Petroleum Ltd – slide 20
    3-Year Development Model Improved Well Performance Drives Down Well Count 60,000 Improved well performance 350 has reduced the number of 1st AltaGas Townsend Facility wells necessary to meet (48 MMcf/d) Cumulative well count…
  21. December 2015 Investor Presentation – Painted Pony Petroleum Ltd – slide 21
    Development Model Cash Flow Growth Annual Forecast Funds Flow per Previous Development Model 700 Annual Forecast Funds Flow per Updated Development Model Revised Anticipated Annual Capital Budget 647 (previous) Funds Flow Previous…
  22. December 2015 Investor Presentation – 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. December 2015 Investor Presentation – 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. December 2015 Investor Presentation – Painted Pony Petroleum Ltd – slide 24
    AltaGas Strategic Alliance Deal with People You Trust Liquids-Rich Natural Gas Processing Provides for the development of essential liquids-rich gas processing facilities Existing AltaGas PNG Mainline 10 Market-Competitive…
  25. December 2015 Investor Presentation – Painted Pony Petroleum Ltd – slide 25
    Facilities Key Infrastructure New AltaGas Townsend Facility: Major new shallow-cut facility Alaska Highway 198 MMcf/d gross capacity Blair PPY has secured firm capacity for entire plant West Blair Daiber (25 mmcf/d) (50…
  26. December 2015 Investor Presentation – 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. December 2015 Investor Presentation – 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 Proposed Shell LNG Canada 3.2 Bcf/d Spectra BG Group In-service 2019 Petronas Pacific NW LNG…
  28. December 2015 Investor Presentation – 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. December 2015 Investor Presentation – Painted Pony Petroleum Ltd – slide 29
    Appendices & Disclosures 29
  30. December 2015 Investor Presentation – 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. December 2015 Investor Presentation – Painted Pony Petroleum Ltd – slide 31
    Production Growth Impressive and Consistent 1,000 48% Compound Annual Growth in 962 100,000 production, 20102014 900 26% Compound Annual Growth in production per share, 2010 2014 800 Production, average annual daily boe per…
  32. December 2015 Investor Presentation – Painted Pony Petroleum Ltd – slide 32
    Proposed West Coast LNG Projects Proposed LNG Projects Capacity Proposed Exxon Imperial 4.0 Bcf/d TransCanada WCC LNG Petronas Proposed Spectra Shell Petrochina, Mitsubishi, KOGAS 3.2 Bcf/d BG Group LNG Canada Nexen / CNOOC…
  33. December 2015 Investor Presentation – Painted Pony Petroleum Ltd – slide 33
    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…

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