Skip to main content January 2016 Investor Presentation – Enerplus Corp | Shale Experts
Loading...
Database
Slide Database

January 2016 Investor Presentation – Enerplus Corp

Enerplus Corp · Jan 25, 2016 · 39 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. January 2016 Investor Presentation – Enerplus Corp – slide 1
    ERF: TSX & NYSE Investor Update January 2016
  2. January 2016 Investor Presentation – Enerplus Corp – slide 2
    Enerplus Key Attributes Profitable Growth & Dividend Income Core growth positions in top resource plays Top Tier North Dakota Bakken/Three Forks and Marcellus Assets Supported by low-decline, high-margin assets with EOR upside…
  3. January 2016 Investor Presentation – Enerplus Corp – slide 3
    Top Tier Asset Portfolio Canadian Oil 2015E Production 19,000 BOE/d Waterfloods Long-life, low decline 44% Large discovered OOIP; 150 future drilling 56% locations and EOR potential Primary, secondary & tertiary recovery…
  4. January 2016 Investor Presentation – Enerplus Corp – slide 4
    Track Record Production (BOE/day) Funds Flow (MM) 120,000 1,000 106,000 859 100,000 800 80,000 600 60,000 400 40,000 20,000 200 0 0 2011 2012 2013 2014 2015E 2011 2012 2013 2014 Other Waterfloods Deep Basin Williston Basin…
  5. January 2016 Investor Presentation – Enerplus Corp – slide 5
    2016 Outlook(1) Capital Expenditure (MM) Production (BOE/d) 1,000 120,000 100,000 103,100 106,000 105,000 811 800 100,000 80,000 600 510 60,000 400 350 40 40,000 44 47 200 41,700 46,000 Mbbls/d 20,000 liquids 0 0 2014…
  6. January 2016 Investor Presentation – Enerplus Corp – slide 6
    2016 Financial Sustainability Maintaining flexibility with spending in 2016 Ability to reduce capital spending further if downward pressure on commodity prices persists Should commodity prices recover, incremental spending would be…
  7. January 2016 Investor Presentation – Enerplus Corp – slide 7
    Strong Portfolio Optionality Fort Berthold, ND Waterfloods, CDN Marcellus 100% 100% 80% 60% 58% IRR (pre-tax) (1) 40% 38% 38% 31% 29% 25% 22% 20% 18% 0% Type Curve: 1,200Mbbl, 900Mbbl Long Range Plan 15…
  8. January 2016 Investor Presentation – Enerplus Corp – slide 8
    F&D and Capital Efficiencies: Continued Improvement 2014 recycle ratio of 2.7x Improving efficiencies and F&D costs with majority of spending directed to crude oil projects 2P F&D and FD&A Costs(1) Capital Efficiencies(2) % of…
  9. January 2016 Investor Presentation – Enerplus Corp – slide 9
    Strong Relative Performance 2014 2P F&D Costs (Including FDC)(1) 2014 Capital Efficiencies(1) /BOE /BOE/day 25 60,000 49,000 22 22 22 21 20 50,000 40,000 20 38,000 36,000 17 17 33,000 32,000 31,000 40,000…
  10. January 2016 Investor Presentation – Enerplus Corp – slide 10
    Hedging Summary Crude Oil Hedging Summary(1) Natural Gas Hedging Summary(1) % of forecast production 53% 34% 25% 17% 31% 21% hedged(2) 18,000 70 80 3.00 16,000 2.95 70 60 NYMEX Price Hedged (US/Mcf) 2.90 14,000 WTI…
  11. January 2016 Investor Presentation – Enerplus Corp – slide 11
    Debt Composition at September 30, 2015 Debt Composition Senior Notes Maturities(1) Bank Credit Facility 800 million (as of Nov 2015) Senior Unsecured Notes - CDN1,116 MM 11 banks in Enerplus bank credit facility Notes are rated NAIC 2…
  12. January 2016 Investor Presentation – Enerplus Corp – slide 12
    Core Oil Assets
  13. January 2016 Investor Presentation – Enerplus Corp – slide 13
    Williston Basin Operated Light Oil Assets Williston Basin (North Dakota & Montana) Production (BOE/d) 35,000 Fort Berthold 30,000 Sleeping Giant 25,000 20,000 15,000 10,000 5,000 - 2010 2011 2012 2013 2014 2015E 2P Reserves…
  14. January 2016 Investor Presentation – Enerplus Corp – slide 14
    Fort Berthold Overview Fort Berthold, North Dakota Key Facts Discovered OOIP(1) 22 35 MMbbls/1280 DSU Discovered OOIP(1) 1.4 billion bbls Net Acreage 74,000 acres Average Working Interest 90% 2P Reserves(2) 123 MMBOE Contingent…
  15. January 2016 Investor Presentation – Enerplus Corp – slide 15
    Fort Berthold Concentrated Core Position & Room to Run The Core represents ND Acreage Quality ND Drilling Density 10% of the basin Avg Long Laterals Peak Monthly Production By Township Total Wells per Township Lower well density…
  16. January 2016 Investor Presentation – Enerplus Corp – slide 16
    North Dakota Well Performance vs Peers Acreage Position and Completion Design Driving Best in Basin Well Performance Average First 6 Months Cumulative Oil Production Per Well NDIC Data All long lateral wells in North Dakota brought…
  17. January 2016 Investor Presentation – Enerplus Corp – slide 17
    Fort Berthold Improving Capital Efficiencies Reduction in Well Costs and Increase in IP Rates Driving Top Quartile Capital Efficiencies 25,000 IP30 Cap Efficiency (USK/BOE/day)(1) 20,000 19,500 17,000 15,500 15,000…
  18. January 2016 Investor Presentation – Enerplus Corp – slide 18
    Fort Berthold Well Density Well Density and Prospectivity Enerplus Hognose Successful TF2 Entire acreage prospective for Bakken and 1st Bench Three Forks Enerplus Swallowtail TF2 270 future drilling locations 8 75% are long…
  19. January 2016 Investor Presentation – Enerplus Corp – slide 19
    Strong Well Performance Across Acreage Position Well Locations (2014 & 2015) Average Production per Well by Area (2014 & 2015) Cumulative Oil (bbls) 120,000 100,000 80,000 60,000 40,000 1200 Mbbl Type Curve 900 Mbbl…
  20. January 2016 Investor Presentation – Enerplus Corp – slide 20
    Fort Berthold Completions A Step Change in Productivity Significant Increase in Productivity Through Completion Evolution Fort Berthold Well Results Type Curve Economics(1)(2)(3)(4) Cumulative oil (bbls) EUR (Mbbl) 1,200 900 200,000…
  21. January 2016 Investor Presentation – Enerplus Corp – slide 21
    Fort Berthold Crude Oil, Gas & NGL Marketing ERF Current Transportation Utilization Regional pipeline and rail loading capacity combined with local refinery demand exceeds regional production by over 70%(1) 52% 48% Enerplus…
  22. January 2016 Investor Presentation – Enerplus Corp – slide 22
    Low Decline Canadian Waterflood Assets Canadian Waterflood Assets Key Facts Discovered OOIP 1.1 billion bbls Recovery factor(1) 22% 2P Reserves(2) 66 MMBOE Contingent Resources(3) 59 MMBOE Future Net Drilling Locations 153 wells…
  23. January 2016 Investor Presentation – Enerplus Corp – slide 23
    Waterflood Medicine Hat Glauc C Unit Polymer pilot injection began in May 2012 (5 injectors) Second project to begin in Q4 of 2015 following pilot success (12 injectors) Additional projects currently planned for 2017 and 2018 Med Hat…
  24. January 2016 Investor Presentation – Enerplus Corp – slide 24
    Core Natural Gas Assets
  25. January 2016 Investor Presentation – Enerplus Corp – slide 25
    Marcellus NE Pennsylvania Marcellus Acreage, Pennsylvania Key Facts Enerplus Land Net Acreage 52,000 acres Thickness Marcellus Well Average Working Interest 28% 2P Reserves(1) 840 Bcf Contingent Resources(2) 1,400 Bcf Future…
  26. January 2016 Investor Presentation – Enerplus Corp – slide 26
    Marcellus Well Performance and Economics Marcellus Type Curves Type Curve Economics(1)(2)(3) 4.0 15 Bcf Type Curve EUR (Bcf) 10 15 12 10 Bcf Type Curve IP30 (MMcf/d) 8.3 11.0 3.5 2014 Onstream Actuals YTD 2015 Onstream Actuals 45…
  27. January 2016 Investor Presentation – Enerplus Corp – slide 27
    Northeast PA Marcellus Pipeline Infrastructure Future Takeaway Capacity Add'l DUC prod. available if we exceed '14 activity levels 18 Curtailed Prod. and DUCs at 2014 activity level In the near-term, production New Capital 2018 16…
  28. January 2016 Investor Presentation – Enerplus Corp – slide 28
    Marcellus Sale Price Mix Q3 2015 Regional firm, must-take contracts of 135 MMcf/day in place through TGP Z4 300 Q1 2016 (includes 10 MMcf/day of Spot: 45% pipeline capacity), falling to 55 MMcf/day in Q2 2016 Transco Leidy Transco…
  29. January 2016 Investor Presentation – Enerplus Corp – slide 29
    Our Competitive Advantage Top-tier assets Demonstrated track record of delivering profitable growth in production, reserves and funds flow Strong operational capability with disciplined capital allocation and focus on improving…
  30. January 2016 Investor Presentation – Enerplus Corp – slide 30
    Supplemental Information
  31. January 2016 Investor Presentation – Enerplus Corp – slide 31
    2015 & 2016 Guidance 2015 & 2016 Guidance and Performance to Date 2015 Actuals through 2016 Guidance(3) Guidance Sept 30th 2015 Capital Spending 510MM 404MM 350MM Average Production (BOE/d) 106,000 106,396 100,000 105,000 Average…
  32. January 2016 Investor Presentation – Enerplus Corp – slide 32
    Crude Oil Hedging Summary Q1 2016 Q2 2016 2H 2016 Hedge position as % of 25% 34% forecasted production(1) 47% 53% Hedged 66% 75% Unhedged Volume Price Volume Price Volume Price (bbl/d) (US/bbl) (bbl/d) (US/bbl) (bbl/d)…
  33. January 2016 Investor Presentation – Enerplus Corp – slide 33
    Natural Gas Hedging Summary Jan - Mar 2016 Apr - Oct 2016 Nov - Dec 2016 Hedge position as % of 17% 21% forecasted 31% production(1) Hedged 69% Unhedged 83% 79% Volume Price Volume Price Volume Price (Mcf/d) (US/Mcf) (Mcf/d)…
  34. January 2016 Investor Presentation – Enerplus Corp – slide 34
    2016 Funds Flow Sensitivities Est. effect on 2016 Est. effect on 2016 Funds Flow Funds Flow per Share 2016 Sensitivities ( Million) (/share) Change of 5.00/bbl WTI crude oil 52 0.25 Change of 0.50/Mcf NYMEX natural gas 64 0.31 Change…
  35. January 2016 Investor Presentation – Enerplus Corp – slide 35
    Fort Berthold Townships First 6 Months Oil Production(1) Enerplus wells drilled without high volume completions Enerplus wells drilled with high volume completions First 6 Calendar Month Oil Production (bbls) 40% improvement…
  36. January 2016 Investor Presentation – Enerplus Corp – slide 36
    Fort Berthold Well Density Schematic 6 / 7 Well Density(1) 8 Well Density(1) TF 2 & 3 Upside(2) No Lower Three Forks Lower Three Forks TF3 & Additional Stand-Alone Locations Productive TF Wells 1) Assumes 15% recovery factor 2)…
  37. January 2016 Investor Presentation – Enerplus Corp – slide 37
    Northeast Pennsylvania Pipeline Projects 8 Bcf/day of Project Planned Incremental Takeaway Project Pipeline Owner Destination In Service (MMcf/day) Columbia East Side Expansion TCO Columbia 310 NE Q4 2015 Niagara Expansion TGP KM 158…
  38. January 2016 Investor Presentation – Enerplus Corp – slide 38
    Enerplus Share Ownership Investor Composition(1) Geographic Composition Total Retail Total Institutional 56% 44% 1% 5% 19% 24% 43% 52% 56% U.S. Institutional Retail Canada U.S. Europe & Other Canadian Institutional…
  39. January 2016 Investor Presentation – Enerplus Corp – slide 39
    Endnotes Economic assumptions, differentials and capital by play, or project Scenario 1: WTI US70/bbl; NYMEX US3.75/Mcf; FX Rate US/CDN 1.175 Differentials (US) 2016 2017 2018 + Capital (MM) Fort Berthold -9.50/bbl -9.50/bbl…

From the store

Browse maps, data & reports in the Shale Experts store