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November 2015 Corporate Presentation – Delphi Energy Corp.

Delphi Energy Corp. · Nov 2, 2015 · 31 slides

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Slides

  1. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 1
    CORPORATE PRESENTATION NOVEMBER 2015
  2. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 2
    A MONTNEY FOCUSED SUSTAINABLE BUSINESS MODEL Delphis Bigstone Montney remains a Top Tier growth asset: Maintains favorable economics in the current commodity price environment Well payouts remain attractive at 1.4 years on current…
  3. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 3
    DELPHI: CORPORATE DEEP BASIN NORHWEST ALBERTA CORPORATE INFO Dawson Creek Trading Symbol TSX:DEE Hythe Basic Shares Outstanding 155.5 million Grande Prairie Market Capitalization 109 million Wapiti Q3 2015 Production 7,888…
  4. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 4
    DELPHI: BIGSTONE A SINGULAR FOCUS 22 DEE Producing Montney Horizontals November 2015 5
  5. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 5
    BIGSTONE MONTNEY: DOMINANT LAND POSITION Montney land position has grown to 138.5 gross (117.1 net) sections since 2010 Delphi one of the largest Montney landowners on map sheet Continue to pursue additional Montney…
  6. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 6
    BIGSTONE MONTNEY: STRATEGIC INFRASTRUCTURE Rge25W5 Delphi owns Rge24 significant infrastructure at Rge23 Rge22 Rge19 Rge18 SemCAMS KA TCPL Bigstone 100% owned 60 mmcf/d sour dehy and Alliance compression facilities 26% ownership…
  7. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 7
    BIGSTONE MONTNEY: STRATEGIC INFRASTRUCTURE Delphi 100% owned Water Disposal Facility 3 million project Less than 1 year payout Targeted operating costs savings of: 2.0 to 2.5 million per year or 0.70 per Montney boe Targeted…
  8. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 8
    BIGSTONE MONTNEY: ALLIANCE FIRM SERVICE Delphis operations are located in the most active corridor of the Deep Basin (Montney and Duvernay) and the significant increase in area volume deliverability has constrained market access for…
  9. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 9
    DELPHI MONTNEY OPEX AND NGL YIELDS Montney Costs (/boe) Montney Operating Costs 14.00 Operating costs being reduced as a result of 12.00 economies of scale, processing arrangements 10.00 and reduction in cost of services 8.00…
  10. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 10
    UNDERSTANDING THE TRANSFORMATION Strategic Events In 2015 Sale of Wapiti / Hythe / other minor non-core assets in 2015 2,600 boe/d (62 million gross proceeds) Low…
  11. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 11
    BIGSTONE MONTNEY: 22 WELLS DRILLED Drilled 3 HZ wells in 2012 To KA Sour Two mile HZs with laterals of 2,200 Plant m to 3,000 m DEI ATH 12-27 10-27 16-30 Fracd using conventional gelled oil 4 wells 3 wells frac designs 15-21…
  12. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 12
    WEST BIGSTONE: ADDITIONAL MONTNEY UPSIDE New Athabasca well West Bigstone Montney: producing 120 27 sections (100% WI) Athabasca well drilled and bbl/mmcf condensate Upper and middle Montney thicken completed Natural gas is…
  13. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 13
    DELPHI: RESERVES GROWTH Growth in Montney Reserves 25% PDP 42% PDNP 2% PUD 31% PA 74,368 31,434 Probable (mboe) Proved (mboe) Montney Development 61,662 Reserves /1,000 shares 25,520 124% growth in PDP reserves over…
  14. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 14
    BIGSTONE MONTNEY: PRODUCTION GROWTH Montney Production (boe/d) 8,000 124% Growth in 2014 6,000 vs 2013 4,000 2,000 Montney Production Still Growing in 2015 0 Eleven fold increase in Montney production from 2012 2013 2014 YTD…
  15. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 15
    DELPHI INDIVIDUAL WELL DATA Initial Production (IP) Rate Well Performance (1) Number IP30 IP30 IP30 IP90 IP180 IP270 IP365 HZ Length of Fracs Total Sales FCond Rate Total NGL Total Sales Total Sales Total Sales Total Sales Well(2)…
  16. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 16
    BIGSTONE MONTNEY COMPARED TO A LARGER DATA SET Elmworth Large data set 488 Montney wells on production Wapiti Delphi Kakwa Bigstone Source of Data: geoSCOUT November 2015 17
  17. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 17
    EVOLUTION: WELL PRODUCTIVITY INCREASING IP90 (mcf/d) IP180 (mcf/d) 4,500 15 18 441 wells 4,500 17 362 wells 4,000 19 60 36 4,000 14 46 3,500 59 3,500 18 30 48 33 38 3,000 3,000 25 2,500 66 2,500 36 18 55 2,000 2,000 15 1,500…
  18. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 18
    EVOLUTION: DELPHI WELL COST IMPROVEMENTS D&C Costs ( 000) DEE Well Costs Cost per Frac Stage (000) Montney Capital Efficiencies 12,000 Avg. Drill Costs Avg. Comp. Costs Avg. Comp. /Stage 700 10,000 600 Average drilling and…
  19. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 19
    BIGSTONE MONTNEY: ECONOMICAL MODEL Delphi Energy - Bigstone Montney Two Section Horizontal Type Well 30 to 40 stage Slickwater Hybrid Completion Sept. 4, 2015 GLJ July 2015 Strip Pricing(1) Pricing(2) Capital Total MM 8.2 Initial…
  20. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 20
    DELPHI: HEDGES PROTECTING CASH FLOW Natural Gas (Cdn) Dec 2015 2016 2017 Volume (mmcf/d) 4.7 2.8 2.4 % Hedged (1) 15% 9% 8% Fixed Price (Cdn /mcf) 3.95 3.84 3.96 Strip Price (Cdn /mcf) 2.54 2.61 2.95 Natural Gas (US) Dec 2015 2016…
  21. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 21
    DELPHI: 2015 GUIDANCE Previous Updated 2015 Guidance 2015 Guidance Post Wapiti Post Wapiti Disposition and Hythe Dispositions Average Annual Production (boe/d) 9,800 10,200 9,500 9,800 Exit Production Rate (boe/d) 10,000 11,000…
  22. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 22
    DELPHI: SUMMARY Bigstone Montney is a Top Tier growth asset: Large Montney land base of 139 sections Favorable economics and attractive capital efficiencies Remains economic in the trough of the commodity price cycle Hedges in place…
  23. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 23
    APPENDIX 24
  24. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 24
    EVOLUTION OF THE WORLD-CLASS MONTNEY PLAY Elmworth Large data set 488 Montney wells on production Wapiti Delphi Kakwa Bigstone Source of Data: geoSCOUT November 2015 25
  25. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 25
    EVOLUTION: PACE OF DRILLING ACCELERATING Producing Wells by Rig Release Date Drilling remains active with 106 Montney Total Wells: 488 wells rig released YTD 2015 200 Only 10 wells reporting Montney 150 production as of the date of…
  26. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 26
    EVOLUTION: WELL LENGTH INCREASING 180 Number of Wells 3,000 Average Horizontal Length (m) 160 Delphi Ave 2,500 140 120 2,000 100 1,500 80 60 1,000 40 500 20 0 0 0-1,000 1,001-1,500 1,501-2,000 2,001-2,500 2,501-3,000…
  27. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 27
    EVOLUTION: FRAC STAGES INCREASING Number of Wells Average Number of Frac Stages/Well 160 30 Delphi Ave 140 25 120 20 100 80 15 60 Evolution of frac design/recipe 10 40 has also had a significant 20 5 positive impact to…
  28. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 28
    EVOLUTION: WELL PRODUCTIVITY INCREASING IP90 (mcf/d) IP180 (mcf/d) 4,500 15 18 441 wells 4,500 17 362 wells 4,000 19 60 36 4,000 14 46 3,500 59 3,500 18 30 48 33 38 3,000 3,000 25 2,500 66 2,500 36 18 55 2,000 2,000 15 1,500…
  29. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 29
    EVOLUTION: DRILLING EFFICIENCY GAINS Average Spud to TD (days) 60 Over a 5 year period, 50 industry improved overall 40 drilling penetration rates 30 by over 50%. 20 10 0 Fewer days = lower costs Average Penetration…
  30. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 30
    NOTES ________________________________________________________ ________________________________________________________ ________________________________________________________…
  31. November 2015 Corporate Presentation – Delphi Energy Corp. – slide 31
    300, 500 4th Avenue SW Calgary, Alberta T2P 2V6 P (403) 265-6171 F (403) 265-6207 infodelphienergy.ca www.delphienergy.ca 32

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