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March 2016 Investor Presentation – Tamarack Valley Energy Ltd.

Tamarack Valley Energy Ltd. · Mar 21, 2016 · 21 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. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 1
    Creating a Sustainable Business March 2016 TVE : TSX www.tamarackvalley.ca 1
  2. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 2
    What Sets TVE Apart Culture: Results: Focus on delivering results 2015 exceeded expectations CUT COSTS low cost producer Bankline held at 165 mm Manage the down cycle (experience) Only 100-105 million drawn vs. guidance of Hard…
  3. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 3
    2016 Budget Principles Top priorities: First balance sheet and bank line liquidity Second modest per share growth Third build low cost inventory through land sales and tuck-ins in core areas; drill non-PUD locations to allow for…
  4. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 4
    Tamarack Wells in the Top 10th Percentile Top 10th Percentile Top 25th Percentile Note: The above IRR calculations assume CIBCs base commodity price forecast of US45.00/Bbl WTI & C2.78/Mcf AECO in 2016, and US65.00Bbl WTI &…
  5. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 5
    Economic Sensitivity Type 1 Well Wilson Creek 700% 1.0 mile well 1.5 mile well 600% TVE Economics suggest elimination of 2.0 mile well 2016 1-mile wells Hedging 500% Average Land consolidation has resulted Current in most…
  6. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 6
    TVE Drilling Inventory Total Inventory 350 80/bbl, 25% ROR 355 Locations Other Cardium 300 PUD locations 136 250 108 Quick Payback Drilling Inventory 200 Payout 1.5 Years or Less 44 186 176 180 150 44 100…
  7. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 7
    Control What We Can Control - Costs Capital Costs Savings in 2016 Budget CAPEX: 4,500 Equip+Tie-in Completions Drilling Shift to sleeve from ball drop 4,000 Eliminate nitrogen Reduce flaring and conserve 3,500 3,373 Shorten…
  8. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 8
    The Evolution of a Core Area Alder Flats TVE land 2014 Acquisition land Entry in 2013 2015 Acquisition land Existing Cardium producers 42 net sections Existing vertical Cardium oil wells Gas plant (10 sec with Cardium pay)…
  9. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 9
    Wilson Creek Mannville Competes for Capital TVE Target TVE Budget AECO Price (2.45/GJ; 2016 avg.) Offset 100% WI 55% WI Capital (mm) 3,050 3,050 1,693 Risking 100% 90% 90% Rate IP30 (mmscf/d) 4.8 2.9 1.6 Reserves (bcf) 5.03 3.03…
  10. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 10
    Reserves Summary by FD Shares P+P Reserves (mmboe) Proved Developed Production Reserves (BOE) 0.600 Gas Boe 16.0 45.00 Natural Gas NGL & Oil Boe 50.0 NGLs FD&A 14.4 Oil 45.0 0.500 14.0 40.00 39.63 Boe /sh FD 35.00 40.0 0.496…
  11. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 11
    Tamarack Profile TVE : TSX Operational 2013 2014 2015e 2016B Production (boe/d) 3,276 5,717 8,425 8,700 9,700 Exit Q4 avg. production (boe/d) 4,718 7,681 9,870 9,600 9,800 % Liquids 60 62 59 51 57 Cash flow (mm) 38.2 66.2 n/a n/a…
  12. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 12
    2016 Realistic Budgets on Realistic Prices AECO - Gas /GJ Edmonton Par - Oil /bbl 4.00 70 3.50 60 3.00 50 2.50 40 2.00 30 Assumptions: 1.50 WTI / Edm Par Diff - 4.00 USD/bbl Assumptions: AECO Basis- 1.06/GJ 20 Exchange…
  13. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 13
    Debt to CF Sensitivity at 9,500 boe/d & 55% Liquids 2.5 2.3 2.0 1.8 Debt to CF (trailing year) 1.5 1.3 1.0 0.8 2016 year end trailing 0.5 0.3 0.0 30 40 50 60 70 WTI Prices (US/bbl) ... Even at 30/bbl WTI…
  14. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 14
    Free Cash Flow Sensitivity 60 At 9,000 boe/d At 9,500 boe/d 50 Free Cash Flow ( millions) 40 30 20 Assumes: - 2.00/GJ AECO 10 - 0.72 Cdn dollar - 4.00/bbl WTI / Edm par differential 0 -10 30 40 50 60 70 WTI…
  15. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 15
    2016 Sensitivities to Lower Oil Prices Downside Scenario Strip March 3/16 Budget Oil (US WTI) 30/bbl WTI 39.25/bbl WTI 33-40/bbl WTI Edmonton par (C/bbl) 36.25/bbl 49.05/bbl 41.00-51.45/bbl AECO (C/GJ) 1.60/GJ 1.60/GJ 2.00-2.45/GJ…
  16. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 16
    2015 - 2016 Budget Financial Stats per BOE 2014 Actuals 2015 Est 2016 Budget Average pricing 48.80/bbl WTI 33.00-40.00/bbl WTI Edm Par 94.09/bbl 57.10/bbl 41.00-51.45/bbl AECO (monthly index) 4.40/GJ 2.56/GJ 2.00-2.45/GJ /boe…
  17. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 17
    Current Hedges as at January 15, 2016 Term Hedge Type Volume Cdn Pricing January 1, 2016 to March 31, 2016 WTI fixed price 2,000 bbls/d Cdn 76.58/bbl April 1, 2016 to June 30, 2016 WTI fixed price 2,400 bbls/d Cdn 76.21/bbl 2016…
  18. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 18
    Building Per Share Growth While De-levering Achieving Production Per Share Growth Well Inventory…
  19. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 19
    Key 6 Month Objectives and Look-back What we did in Objectives for What we said we would do Q3 2015 / Q4 2015 Q1 2016 / Q2 2016 Cautiously proceed with drilling program to Production approx. 9,870 boe/d (up 5.5%), Spend approx.…
  20. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 20
    Why Buy/Continue to Own Tamarack Resilient assets in low commodity price environment Preserves a solid balance sheet As commodity prices improve, TVE high quality inventory will be economic earlier than most inventory TVE has a plan…
  21. March 2016 Investor Presentation – Tamarack Valley Energy Ltd. – slide 21
    Tamarack Wells in the Top 10 Percentile Source: CIBC Resource Play Watch: January 2016 Report 23

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