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April 2016 Corporate Presentation – Northern Blizzard Resources Inc

Northern Blizzard Resources Inc · Apr 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. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 1
    April 2016 Corporate Presentation
  2. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 2
    Corporate Highlights Common Shares TSX: NBZ Reserves Public Float 29.7 million shares / 26% DOIIP (net)(3) 2.1 billion bbl Management(1) 5.0 million shares / 4% 2P Reserves(3) 153 million boe NGP / Riverstone 80.8 million shares /…
  3. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 3
    Investment Highlights Approximately 2.1 billion bbl DOIIP(1) with 12% recovered WorldClass Oil Low corporate decline rate of 17% trending lower Resource Base Long reserve life index (2P = 21.9 years; PDP = 8.2 years) Large inventory…
  4. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 4
    WorldClass Oil Resource Base Significant highquality oil resource Approximately 2.1 billion bbl DOIIP(1) with 12% recovered Large inventory ( 2,000) of low risk drilling locations with good capital efficiencies Longlife low…
  5. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 5
    Decline Rate (%) bbl/d 0% 10% 20% 30% 40% 50% 46% 13,000 14,000 15,000 16,000 17,000 18,000 19,000 20,000 21,000 22,000 46% 23,000 1/1/2014 45% 2/1/2014 43% Corporate Presentation 3/1/2014 43%…
  6. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 6
    Credit Capacity & Liquidity Debt Composition Bank Credit Facility Dec 31, 2015 475.0 million borrowing base Borrowing base to be reviewed in May 2016 NBRI is in compliance with financial covenants: Dec 31, 2015 Dec 31, 2016(1)…
  7. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 7
    Active Hedging Program 14,000 80.00 Hedge program supports predictable cash flows 70.00 12,000 2016 4.2 mmbbls C79.50/bbl WTI & 10,000 60.00 C18.89/bbl WCS differential WTI (C/bbl) 50.00 8,000 bbl/d 2017 3.3 mmbbls…
  8. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 8
    Operating In A Low Oil Price Environment Optimize Optimize asset integrity asset Manage decline rates low decline rate requires less sustaining integrity capital Committed to long life projects (i.e. polymer flood, SAGD) Rigorous…
  9. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 9
    Operating & Capital Cost Improvements 25.00 Operating cost improvements 20.00 Operating costs of 16.72/boe (2015) Operating Costs (/boe) are 21% lower than 2014 15.00 NBRI continues to work to reduce 10.00 production costs…
  10. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 10
    2016 Guidance & Sensitivities Guidance(1) Sensitivities WTI (US/bbl) 40.00 35.00 30.00 WCS differential (US/bbl) (14.25) (14.00) (13.75) CAD/USD 1.370 1.400 1.420 Average production (boe/d) 19,000 19,000 19,000 Capital expenditures 40…
  11. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 11
    Focus Assets Cactus Lake, Winter & Coleville DOIIP of 409 mmbbls(2) 13% recovered to date Drilling inventory of 311 locations(2) Cactus Lake 255 booked 2P(1), 56 unbooked EUR of 100 mboe per well(2) Upside from infill drilling,…
  12. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 12
    Represents Industrys Top Project Economics 160 140 2016 Guidance(2) 120 Before Tax Rate of Return (%) 100 80 2016 WTI Strip Price(1) 60 Cactus Lake Waterflood w/o Facilities 40 Coleville Viking (Light Oil,…
  13. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 13
    Breakeven Oil Price (C/bbl Ed. Par) 10 20 30 40 50 60 70 80 90 100 0 RMP (Ante Creek) - Montney Oil 29 Crescent Point - Bakken (Waterflood) 34 Surge (Valhalla) - Doig 36 Kelt (La Glace) - Montney Oil Source:…
  14. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 14
    Cactus Lake Corporate Presentation April 2016 15
  15. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 15
    Cactus Lake Overview Highlights DOIIP(1) 409 mmbbls bbl Recovered to date 13% 2P Reserves(2) 52 million boe Est. 2016 production 7,897 boe/d Wells drilled to Dec 31, 2015 380(3) 311 locations Drilling inventory (18% unbooked)…
  16. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 16
    Cactus Lake Repeatable Development Infill Performance vs Type Curve Phase ID Drill Vintage Polymer Started Well Count 35 Phase 1 2012, 2013 2013 96 Calendar Day Oil Rate (bbl/d) 30 Waterflood Type Curve Phase 2A 2013 2014 18…
  17. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 17
    Cactus Lake Opportunity Base 352 Basal Mannville Bakken production wells drilled to date 311 remaining inventory locations identified Average DOIIP in remaining sections expected to be in line with developed sections to date Infill…
  18. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 18
    Cactus Lake Polymer Update 50% of DOIIP and field production currently under polymer injection Largest North American nonhorizontal polymer flood by injection volumes Initial production response materialized in 2015 Phase 3A…
  19. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 19
    Cactus Lake Why Polymer Flood Works Oil Rate Normalized comparison between polymer flood 30 25 (PF) and waterflood (WF) areas Oil Rate (bbl/d) 20 15 10 Oil rates are 5 comparable PF WF 0 0 10 20 30 40 50 60 Water…
  20. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 20
    Cactus Lake Consistent Demonstrated Growth Cactus Lake Area Oil Production 9,000 8,000 7,000 6,000 5,000 (bbl/d) 4,000 3,000 2015 2014 2,000 2013 2012 1,000 2011 Sparky Base 0 Jan12 Jul12 Jan13…
  21. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 21
    Cactus Lake Reduced Operating Costs, Strong NOI(1) 2015 Highlights: Average Daily Production and Operating Costs 12% year over year production 10,000 25.00 growth 8,000 20.00 Polymer production response 6,000 15.00 boe/d…
  22. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 22
    Winter Corporate Presentation April 2016 23
  23. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 23
    Winter Overview Highlights DOIIP +600 mmbbls bbl(1) Recovered to date < 8% gross estimate 2P Reserves(2) 22 million boe Est. 2016 production +2,770 boe/d Wells drilled to Mar 31, 2016 192 gross +450 gross locations NBRI Drilling…
  24. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 24
    Winter Value Creation Repeatable Horizontal Drilling Consistent performance 182 horizontal wells drilled for production on 25 meter spacing since 2010 (Dec 31, 2015) Superior economics Winter development provides better…
  25. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 25
    Winter Reduced Operating Costs, Strong NOI(1) 2015 Highlights: Average Daily Production and Operating Costs Operating costs continue to 4,000 25.00 decline 3,000 20.00 Flat year over year production 15.00 boe/d /boe 2,000…
  26. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 26
    Coleville Corporate Presentation April 2016 27
  27. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 27
    Coleville Viking 10,000 Acres in Proven Fairway Raging River Whitecap Novus Teine Ish Crescent Point Penn West Other Operators Company Land Smiley and Whiteside are expected to provide average peak production rates of…
  28. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 28
    Coleville Development Opportunity One of the largest tight oil plays in western Canada NBRI drilled 48 wells from Jan 2014 to Dec 2015 650 boe/d estimated for 2016 9.50 per boe operating costs estimated for 2016 Over 26.00…
  29. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 29
    SAGD Plover North SAGD Plant Plover North SAGD Plant A3P A4P A3I A4I A5P A6P A5I A6I Corporate Presentation April 2016 30
  30. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 30
    SAGD Development Repeatable Opportunities Large oil in place Huge upside potential Technologydriven recovery Significant advantages from existing Long life assets infrastructure Est DOIIP 176 mmbbls Corporate Presentation…
  31. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 31
    Plover North SAGD Cumulative Steam and Oil 250,000 200,000 Cumulative Oil, bbl 150,000 100,000 50,000 0 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 Cumulative Steam, bbl A3 A4 A5 A6 Corporate…
  32. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 32
    Analog Project/NBRI Comparison Steam Injection vs Recovery Factor A3 A4 A5 A6 Analog Well 1 Analog Well 2 Analog Well 3 Analog Well 4 40 35 Recovery Factor (%) 30 25 20 15 10 5 0 0.0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9…
  33. April 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 33
    Saskatchewan SAGD Well Performance vs. Steam Rate 600 NBRI Plover Lake Pad A Baytex Kerrobert 0836 Baytex Kerrobert 1036 CNRL Senlac Pad 1 CNRL Senlac Pad 2 500 CNRL Senlac Pad 3 CNRL Senlac Pad 4 CNRL Senlac Pad 5 CNRL…

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