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April 2016 Corporate Presentation – Canbriam Energy

Canbriam Energy · Apr 28, 2016 · 34 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 – Canbriam Energy – slide 1
    CANBRIAM ENERGY INC. CORPORATE PRESENTATION APRIL 2016
  2. April 2016 Corporate Presentation – Canbriam Energy – slide 2
    Canbriam Energy A fully integrated, BC Montney natural gas growth company with differentiated resource quality Private company focused in the Altares region of the prolific Montney formation in northeast Montney trend BC Fort St.…
  3. April 2016 Corporate Presentation – Canbriam Energy – slide 3
    The BC Montney has significant offset well density & peer activity Canbriams Altares is located in the northern extension of the prolific BC Montney Montney Wells 30 km Canbriam Energy Montney trend Petronas/Progress -Town…
  4. April 2016 Corporate Presentation – Canbriam Energy – slide 4
    Differentiated resource quality in the BC Montney Four key attributes that differentiate the Altares Montney 1. Over pressured reservoir Up to 2 times over pressured within Main Fault Block Downhole choke strategy enhances EUR,…
  5. April 2016 Corporate Presentation – Canbriam Energy – slide 5
    Differentiated resource quality in the BC Montney Four key attributes that differentiate the Altares Montney 2. Subsurface compartmentalization Leads to distinct high pressure regions with consistent well results North Fault…
  6. April 2016 Corporate Presentation – Canbriam Energy – slide 6
    Differentiated resource quality in the BC Montney Four key attributes that differentiate the Altares Montney 3. Significant thickness 4. Strong liquids component Several zones have been tested three intervals have 2016E liquids…
  7. April 2016 Corporate Presentation – Canbriam Energy – slide 7
    Drilling inventory supports low-risk production growth Represents 37 years of well inventory at current pace of development Reserve bookings: Liquids rich development locations: +20 years of upside 7 years of inventory at 3 rig pace…
  8. April 2016 Corporate Presentation – Canbriam Energy – slide 8
    Significant reserves growth with high liquids content Canbriams 2P bookings reflect consistent well performance and the addition of 24 PDP wells in 2015 2P Reserve growth (MMboe) 2P F&D costs & recycle ratio (1) 25 3.2 3.5 63 2.9…
  9. April 2016 Corporate Presentation – Canbriam Energy – slide 9
    Stable production history with strong liquids content Canbriams production growth reflects addition of phases 1 & 2 of the Altares Processing Facility in 2015 Production history (MBoe/d) 45 Oct 2015: Phase 2 of Natural gas (inlet…
  10. April 2016 Corporate Presentation – Canbriam Energy – slide 10
    Development plan focused in the prolific Main Fault Block Canbriams Main Fault Block is substantially de-risked and represents the majority of the next 5 years development Daily Raw Gas Production by Well Upper & Lower Montney…
  11. April 2016 Corporate Presentation – Canbriam Energy – slide 11
    Optimizing well performance through choke management strategy Canbriams use of downhole chokes optimizes its over-pressured reservoir Altares c-B27-H well - Upper Montney Advantages of downhole chokes: 15.0 30,000 Minimizes 1st…
  12. April 2016 Corporate Presentation – Canbriam Energy – slide 12
    12-month rate vs. cumulative production Canbriams Altares wells among highest deliverability in Northern BC Montney extension 12 month cumulative production vs. rate 10,000 (as of December 2015) Northern BC Montney extension 585…
  13. April 2016 Corporate Presentation – Canbriam Energy – slide 13
    Improving decline rates through choke management Maintenance capital requirement is 50-60 million annually for 25,000 boe/d of production Production by well vintage 24% 20,000 2015H1 corporate 2014 decline rate 2013 2012…
  14. April 2016 Corporate Presentation – Canbriam Energy – slide 14
    Main Fault Block type well economic sensitivities Type wells demonstrate strong economic returns under different pricing scenarios Montney NPV10 (M) Montney IRR 18,000 100% 16,000 90% 80% 14,000 70% 12,000 60% 10,000 50%…
  15. April 2016 Corporate Presentation – Canbriam Energy – slide 15
    Infrastructure strategy supports large scale development Canbriam owns & operates all processing infrastructure 100% owned & operated infrastructure: North Altares facilities Altares Processing Facility consists of: b-72-A gas…
  16. April 2016 Corporate Presentation – Canbriam Energy – slide 16
    Altares Processing Facility: scalable to 400 MMcf/d Canbriam owns & operates all processing infrastructure Water treatment & recycling hub Commissioned March 2015 Phase 4: 120 MMcf/d Sanctioning to be determined Phase 3: 120…
  17. April 2016 Corporate Presentation – Canbriam Energy – slide 17
    Integrated water solution is a strategic advantage Demonstrates robust economics, eliminates need to truck water and provides benefits to stakeholders Canbriam water infrastructure capital cost (MM) 1. Sourcing Project descriptions…
  18. April 2016 Corporate Presentation – Canbriam Energy – slide 18
    Marketing plan supports long term development Canbriam benefits from competitive royalties, supportive stakeholders and easily accessible infrastructure Sufficient takeaway capacity: Spectra T North Gas transmission Spectra T North:…
  19. April 2016 Corporate Presentation – Canbriam Energy – slide 19
    Four key elements to Canbriams financial strategy Disciplined approach to financial management Priority is continuing with 2016 capital spending funded infrastructure expansion through cash flow and undrawn bank lines Flexibility…
  20. April 2016 Corporate Presentation – Canbriam Energy – slide 20
    Historical financial summary Netbacks reflect improving cost structure and production growth Average production 22.9 Adjusted EBITDA(1) 87.8 83.0 (Mboe/d) (C millions) 17.9 66.0 9.6 7.8 23.0 4.3 4.0 2012 2013 2014 2015 Q4…
  21. April 2016 Corporate Presentation – Canbriam Energy – slide 21
    Improving cost structure to sustain profitability Canbriams low cost structure & robust hedge positions drive solid margins despite low commodity prices Canbriam cost structure vs. price realizations (2014 2015) 50 44.58 45…
  22. April 2016 Corporate Presentation – Canbriam Energy – slide 22
    Hedge positions & composition of total liquids production Actively hedging commodity price risk through disciplined risk management Natural gas hedges (at March 14, 2016) Liquids hedges (at March 14, 2016) 120 3,000 120 97.35 100…
  23. April 2016 Corporate Presentation – Canbriam Energy – slide 23
    Investing in Canbriam Energy A fully integrated, natural gas growth company with differentiated resource quality Prolific EUR/well with 1,100 of Montney vertical thickness on 62,000 (50% liquids rich) net acres 199.3 MMboe of gross…
  24. April 2016 Corporate Presentation – Canbriam Energy – slide 24
    SUPPLEMENTAL INFORMATION 24 Canbriam Energy Corporate presentation
  25. April 2016 Corporate Presentation – Canbriam Energy – slide 25
    Canbriam has the foundation for long term value creation Our approach is defined by three key elements Resource Innovation Collaboration Montney is a world class reservoir Canbriams success is tied to early Team approach fosters…
  26. April 2016 Corporate Presentation – Canbriam Energy – slide 26
    Stable production history with strong liquids content Canbriams production growth reflects addition of phases 1 & 2 of the Altares Processing Facility in 2015 250 Inlet separator Natural gas production 40,000 Boe/d capacity 200…
  27. April 2016 Corporate Presentation – Canbriam Energy – slide 27
    Canbriam Energy Management An experienced team with a track record of value creation Paul Myers Founder and CEO since company inception in 2008 President and Chief Formerly President & CEO of Esprit Energy Trust, prior to…
  28. April 2016 Corporate Presentation – Canbriam Energy – slide 28
    Proven ability to manage over-pressured reservoir Canbriams Altares Montney is up to 2 times over-pressured Development plan supported by: 1. Safe operating procedures Plug & Perf is the lowest risk completion technique for over…
  29. April 2016 Corporate Presentation – Canbriam Energy – slide 29
    Type curve economics Upper Montney Canbriams Upper Montney wells have exceeded type curve performance Drilling locations(1) 284 6,000 Well properties Raw gas type curve (Bcf)(2) 9.0 5,000 Sales gas (Bcf)(3) 8.2 Raw Gas…
  30. April 2016 Corporate Presentation – Canbriam Energy – slide 30
    Type curve economics Lower Montney Lower Montney performance reflects over-pressured reservoir Drilling locations(1) 149 6,000 Well properties 5,000 Raw gas type curve (Bcf)(2) 8.0 Sales gas (Bcf)(3) 7.3 Raw Gas Production Rate…
  31. April 2016 Corporate Presentation – Canbriam Energy – slide 31
    Historical netbacks Canbriams low cash costs drive solid margins 2015 2014 2013 Benchmark prices Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Henry Hub (US/MMbtu) 2.27 2.77 2.64 2.98 4.00 4.06 4.67 4.94 3.62 3.60 4.09 3.35 AECO (/Gj) 2.33…
  32. April 2016 Corporate Presentation – Canbriam Energy – slide 32
    Supplemental reserves information 2015 Independent reserves evaluation completed by McDaniel & Associates Reserves Reconciliation (1) Proved Probable Proved + Probable Natural Gas NGLs Total Natural Gas NGLs Total Natural Gas NGLs…
  33. April 2016 Corporate Presentation – Canbriam Energy – slide 33
    Upper Montney Main Fault Block well performance Canbriams near term development plan is focused primarily in the Main Fault Block Daily Raw Gas Production by well - Upper Montney Main Fault Block Development Wells 10,000 b-A24-H…
  34. April 2016 Corporate Presentation – Canbriam Energy – slide 34
    Canbriam Energy Inc. 3500, 450 1st Street SW Calgary, AB Canada T2P 5H1 Tel: 403.269.2874 www.canbriam.com Paul Myers President & Chief Executive Officer 403.718.8550 pmyerscanbriam.com Rob Froese Chief Financial Officer 403.718.3601…

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