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January 2016 Corporate Presentation – Nuvista Energy Ltd.

Nuvista Energy Ltd. · Jan 19, 2016 · 29 slides

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Slides

  1. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 1
    CORPORATE PRESENTATION January 2016 All amounts in Canadian dollars unless indicated otherwise
  2. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 2
    NuVista Snapshot NuVista Corporate Info TSX trading symbol: NVA Market capitalization: 0.5 billion Basic shares outstanding: 153.3 million Debt capacity: 300 million GRANDE PRAIRIE 2016 Guidance WAPITI Production: 24,500 26,000…
  3. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 3
    NVA Principles and 2016 Guidance Focused on the Long Term Nimbly managing the short term Maintain Balance Sheet Profitable Growth Tuned Reducing Costs & Strength to Market Environment Improving Performance Debt to Cashflow target…
  4. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 4
    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…
  5. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 5
    The Alberta Condensate-Rich Montney Industry Drilling and Production growth continues Elmworth to Kakwa Montney HZ Activity Update* High level of industry activity continues T70 650 Montney HZ wells licensed and/or drilled to date…
  6. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 6
    Relentless Improvement Efficiency and Well Costs Montney Well Cost (DCET) By Year Average Annual Montney Drilling Curves 12 0 2013 2014 2015 Recent Wells 10 1,000 8 2,000 Depth (m) 3,000 (M) 6 4,000 4 RecentRecord…
  7. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 7
    Relentless Improvement Bilbo Well Performance Bilbo Type Curve Progression Bilbo Well Production-to-Date 400 2013 Type Curve (4.4 Bcf; 35 Bbls/MMcf) 600 2014 Type Curve (4.4 Bcf; 45 Bbls/MMcf) 2015 Type Curve (4.4 Bcf, 75 bbl/MMcf)…
  8. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 8
    Relentless Improvement Elmworth Well Performance Elmworth Type Curve Progression Elmworth Well Production-to-Date 400 2013 Type Curve (4.4 Bcf; 35 Bbls/MMcf) 700 2014 Type Curve (4.4 Bcf; 45 Bbls/MMcf) 2015 Type Curve (6 Bcf, 45…
  9. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 9
    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…
  10. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 10
    Montney Operations Activity Update R8W6 R6W6 Activity Highlights Pipestone Elmworth Seven New IP30's in Q4/2015, including: T70 12 Wells Producing in the Development Block (IP30) 3 Elmworth Extension wells flowing (IP30) Elmworth…
  11. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 11
    Elmworth Development Block Block Expanded by 20% R9W6 R8W6 North Montney Sales Production 8 Sales Gas NGL's C5+ 2-well pad 01-01 drilled New IP30 7 Cumulative-to-Date Bbls/MMcf 6 11 Condensate Butane 9 5 39 Propane…
  12. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 12
    Bilbo Development Block Focus on Efficient Production Additions in 2016 One rig drilling South Montney Sales Production 16 Cumulative-to-Date Bbls/MMcf Condensate Sales Gas NGL's C5+ T66 14 5 5 Butane Two 2-well pads Propane…
  13. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 13
    Significant New Wells On-stream New Record Wells at Bilbo and Significant Step-out at Elmworth Bilbo 01-34 Well Bilbo 16-27 Well 6,000 C5+ Actual (bbl/d) C5+ Type Curve (bbl/d) 18,000 5,000 C5+ Actual (bbl/d) C5+ Type Curve (bbl/d)…
  14. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 14
    A Closer Look at the NuVista 'Boe' Condensate Underpins Economics and Provides Torque to Oil Price Recovery NuVista Production Mix1 NuVista 2016 Revenue Composition2 30,000 100% 2% 90% 25,000 80% 49% 70% 20,000 8% Nat Gas 60%…
  15. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 15
    NuVista Montney Recycle Ratio and Profitability Tremendous Torque to Oil and Gas Price Full-Cycle Bilbo F&D Cost 2016E Montney Cash Costs Well Cost (DCET) 7.3 MM Operating Cost 11.00/Boe Land/Seismic/Facilities 0.6 MM Transportation…
  16. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 16
    Wapiti Montney Firm Egress Counts Built-in growth with generous capital flexibility in the short term and multiple options for the long term Grande Prairie Proposed 2018 Wapiti Area Gas Plants NuVista (50%) North Compressor…
  17. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 17
    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…
  18. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 18
    Commodity Price Risk Management We are well hedged Crude Oil Hedge Position 5,000 85.00 80.00 4,000 75.00 Hedged Volume, Bbl/d 3,000 Floor C WTI price of Price, C/Bbl 70.00 80.12/Bbl on 49% of 2,000 65.00 2016 net…
  19. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 19
    NuVista Operating Results 2015 and Q4 Guidance Achieved 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…
  20. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 20
    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…
  21. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 21
    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…
  22. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 22
    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…
  23. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 23
    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…
  24. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 24
    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…
  25. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 25
    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…
  26. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 26
    Montney IP30's 2015 & Historical Year Averages Well IP30* Cumulative to date (Jan 12, 2016) 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.…
  27. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 27
    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…
  28. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 28
    Montney Delineation Large Portfolio of Development Opportunities NVA Producing Montney Montney HZs New Block SW of Elmworth is Emerging Three successful step-out results Encouraging initial gas rates and evidence of material…
  29. January 2016 Corporate Presentation – Nuvista Energy Ltd. – slide 29
    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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