Corporate Profile Production (Q4/15) 77,398 boe/d Operations Production (2015) 86,357 boe/d Liquids % 69% Netback (2015) 15.52/boe EBITDA (Q4/15 trailing 12 months) 427 MM Asset Base 1P Reserves (YE 2015) 208 Mmboe…
Core Areas Total Core Assets (FY 2015) Production 47,500 boe/d Liquids 73% Opex 15.50/boe NOI 315 MM Netback 18.00/boe Greater Viking (FY 2015) Production 19,500 boe/d Liquids 87% Opex 16.50/boe NOI 130 MM Netback…
Non-Core Areas: Upside Potential with Stable Base Total Non-Core and Other Assets (FY 2015) NE BC & NW AB Production Liquids boe/d % Swan Hills 7,500 76% NE BC & NW AB 7,500 8% East Central AB 6,500 40% PROP 3,000 98% PROP…
Continue to Transact on Non-Core Assets 3.4B 2.1B of dispositions since Q2 2013 1.9B Q2 2013 Net Debt Q4 2015 Net Debt Pro Forma 3,402 (493) Dispositions evidence the quality of our non-core asset base, our ongoing commitment…
Q4 and FY 2015 Operational Results Production (boe/d) Capex (MM) 90,000 600 Guidance Guidance Range 500 2015E 2015 400 80,000 300 200 100 70,000 0 Q4 FY Q4 FY Q4 and FY production above the midpoint of guidance despite…
2016 Budget Re-Affirms Our Strategy 2016 capital budget is consistent with the Limit Capital Expenditures to strategy announced on September 1, 2015 Funds Flow from Operations Seek to limit total expenditures to FFO Only…
2016 Capital Budget & Guidance 2016 Budget Focus Full Year Capital Budget of 50MM (excl. Enviro) re-affirms our commitment of living within our means Total expenditures (incl. Enviro) seeks to be within FFO Focus on maintaining…
Greater Viking Overview Greater Viking Play Details Production boe/d 19,500 Locations 535 T30 Land sections 648 Penn West land PW 2015 well 4 kms PW 2014 well R22W3 2 miles 1P Reserves MMboe 48 ALBERTA SASKATCHEWAN 2P…
Cardium Overview T54 Cardium Play Details Production boe/d 28,000 Locations 2,500 Land sections 766 Easyford T50 Pembina 1P Reserves MMboe 101 PCU 11 J Lease 2P Reserves MMboe 135 PCU 9 2P RLI years 16 T45 Lodgepole…
Driving Down Drilling Costs in the Viking Drilling Costs (mm) 1.2 H2 2014 H1 2015 H2 2015 Current Type Curve 1.0 0.8 0.6 0.4 D&C Cost Total Well Cost See Endnotes pennwest.com TSX: PWT NYSE: PWE.BC 12
Driving Down Drilling Costs in the Cardium Drilling Costs (/meter) Completion Costs (/stage) 550 H2 2014 H2 2015 75,000 H2 2014 H2 2015 500 65,000 450 55,000 400 45,000 350 35,000 300 25,000 Willesden Green Pembina…
Driving Down Operating Costs 750 Absolute operating costs at our existing properties reduced over 20%, 650 which excludes the impact of divestitures Operating Costs (MM) 550 Expect further 20% 450 operating cost…
Appendix
Year End 2015 Reserve Highlights Proved + Probable (2P) Reserve Value of 3.4B based on Reserve Volumes of 306 MMboe 2P reserve volumes of 306 MMboe Before Tax Reserve Value (MM) and Proved Developed Producing (PDP) of 177 MMboe…
Year End 2015 Core Asset Reserve Highlights Volume and Value Concentration in Core Areas Confirms Long Term Strategy Other Viking Cardium Reserve Volumes (Mboe) 109 62 Viking and Cardium areas account for 65% of 2P 135…
2P Reserve Reconciliation YE 2014 vs YE 2015 Variance Driven Largely by Dispositions and Economic Factors Approximately 70% of the reduction in reserve volumes was due to either dispositions or impacts of the reduced price…
Hedge Positions as at March 10, 2016 Hedging program continues to help reduce the volatility of our funds flow from operations, thereby improving our ability to align capital programs going forward Have extended crude oil hedge…
Debt Capital Structure Senior Debt as at Dec 31, 2015 Bank Facility as at Dec 31, 2015 Bank Facility C0.5B Amount Undrawn Drawn Capacity C0.5B C0.7B Senior Notes C1.5B Senior Debt 1.9B Aggregate Borrowing Limit of…
Senior Notes Maturity Profile: Dec 31, 2015 Senior Notes Breakdown C376 As at Dec 31, 2015, in millions Currency Outstanding C FX Rate C Outstanding C70 USD US937 1.38 C1,297 CAD C73 1.00 C73 GBP 49 2.04 C99 EUR 6 1.50 C9 C46…
US WTI To C Edmonton Par Comparison Illustrative Comparison of U.S. and Canadian Benchmark Light Oil Prices C14 C50 Due to a weaker Canadian Dollar, Canadian producers receive a revenue uptick per barrel of oil relative to…
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