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March 2016 Investor Update – Bonterra Energy Corp

Bonterra Energy Corp · Mar 31, 2016 · 19 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 Update – Bonterra Energy Corp – slide 1
    BONTERRA ENERGY CORP. MARCH 2016 YIELD GROWTH SUSTAINABILITY
  2. March 2016 Investor Update – Bonterra Energy Corp – slide 2
    CURRENT SNAPSHOT CORPORATE PROFILE Shares outstanding 33.1 million Market capitalization 712 million Insider ownership 12% Current monthly dividend 0.10 per share Current annualized yield(1) 5.6% Oil and liquids weighting Q4 2015 73% (6%…
  3. March 2016 Investor Update – Bonterra Energy Corp – slide 3
    FINANCIAL RESULTS HIGHLIGHTS Year Year (000s except per share amounts) 2015 2014 Funds Flow 117,948 209,665 Per share basic 3.61 6.57 Payout ratio 54% 54% Cash from other sources 8,130 39,450 Cash Dividends per share 1.95 3.54 Average…
  4. March 2016 Investor Update – Bonterra Energy Corp – slide 4
    CASH FLOW SENSITIVITIES Per Annum Cash Flow Sensitivity Analysis(1) (estimate for 2016) Cash Flow Per Share(2) Change of U.S. 1.00 per barrel of oil and NGLs 2,944,000 0.09 Change of Canadian 0.10 per MCF of natural gas 669,000 0.02…
  5. March 2016 Investor Update – Bonterra Energy Corp – slide 5
    DIVIDEND HISTORY 0.40 0.35 0.30 0.30 0.29 0.28 0.26 0.25 0.24 0.22 0.21 0.20 0.18 0.16 0.16 0.15 0.15 0.14 0.12 0.10 0.10 0.05 - 5
  6. March 2016 Investor Update – Bonterra Energy Corp – slide 6
    INCREASING SHAREHOLDER VALUE Reserves per Share Reserves Profile (boe per share) (Proved plus Probable) (Proved plus Probable) 2.78 2.47 2.50 2.28 2.09 2.13 27% Natural Gas 73% Oil/NGLs 90,621 80,248 2010 2011 2012 2013…
  7. March 2016 Investor Update – Bonterra Energy Corp – slide 7
    PROTECTING SHAREHOLDER VALUE Production per Share Production Profile (boe per share) 0.147 0.150 0.139 0.119 0.124 0.109 26% Natural Gas 74% Oil/NGLs 13,195 12,656 12,190 2010 2011 2012 2013 2014 2015 Gross Production…
  8. March 2016 Investor Update – Bonterra Energy Corp – slide 8
    PEMBINA CARDIUM ORIGINAL OIL IN PLACE PER SECTION RECOVERY FACTOR 0 to 5,000 Mbbl 0% 5,000 to 10,000 Mbbl 5% 10,000 to 20,000 Mbbl 10% 20,000 to 25,000 Mbbl 15% 25,000+ Mbbl 20% 25% KEY CHARACTERISTICS Pembina is the…
  9. March 2016 Investor Update – Bonterra Energy Corp – slide 9
    CARDIUM LANDS LAND Average working interest 76% Bonterra operates 88.5% of its total production Reserve life index (Proved) 11 years Reserve life index (P+P) 16 years Reserves (P+P) 90.6 MBOE Land position 292 gross (201…
  10. March 2016 Investor Update – Bonterra Energy Corp – slide 10
    CARNWOOD AREA Drilled 2015 Completions 2015 Drills Potential Drilling locations Sections: 38 gross (35 net); Locations (6 to 8 wells per section): 300 gross (280 net) 10
  11. March 2016 Investor Update – Bonterra Energy Corp – slide 11
    PEMBINA CARDIUM DEVELOPMENT CONVENTIONAL VERTICAL DEVELOPMENT 4 vertical wells Estimated ultimate oil recovery: 378,000 Bbl Recovery factor: 3.2% 8 HZ WELLS* PER SECTION DEVELOPMENT Estimated ultimate oil recovery: 1,178,000 Bbl…
  12. March 2016 Investor Update – Bonterra Energy Corp – slide 12
    PEMBINA CARDIUM DEVELOPMENT SECTION 13-048-06W5 Original Vertical Wells Horizontal Infill Wells 1,000 100 Recovery Factor = 10.3% BOPD 10 Recovery Factor = 3.2% 1 Jan-10 Jan-15 Jan-20 Month 12
  13. March 2016 Investor Update – Bonterra Energy Corp – slide 13
    AVERAGE BNE CARDIUM ECONOMICS BNE TYPE CURVE 300 Reserves per well (MBOE) 165 250 IP (1 month) (boe/d) 255 200 IP (12 months) (boe/d) 125 BOE/D 150 100 50 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23…
  14. March 2016 Investor Update – Bonterra Energy Corp – slide 14
    SUSTAINABILITY DRIVERS COMMODITY SENSITIVITY Run Rate Production Assumption = 12,500 boepd WTI (USD) /bbl 35.00 40.00 45.00 50.00 55.00 60.00 65.00 70.00 Differential (USD) /bbl 2.00 2.00 2.00 3.00 3.00 5.00 5.00 5.00 Foreign…
  15. March 2016 Investor Update – Bonterra Energy Corp – slide 15
    CARDIUM LOCATIONS Total Inventory * Booked Locations Area Name Avg WI% Gross Net Gross Net ROSE CREEK 98.3% 211.5 207.9 16.0 14.3 CARNWOOD 90.9% 180.0 163.6 75.0 71.7 KEYSTONE 97.5% 152.0 148.2 105.0 102.3 WEST PEMBINA 96.7% 118.0 114.1…
  16. March 2016 Investor Update – Bonterra Energy Corp – slide 16
    CURRENT RESERVES CURRENT RESERVES PDP TP TPP Oil (Mbbl) 26,276 47,037 59,558 Sales Gas (Mmcf) 57,900 111,172 119,128 Liquids (Mbbl) 2,693 5,118 6,708 Total (MBOE) 38,619 70,684 90,621 Product Mix Oil Gas Liq 6% 26%…
  17. March 2016 Investor Update – Bonterra Energy Corp – slide 17
    RESERVES INTERNAL ESTIMATE FULL DEVELOPMENT - INTERNAL ESTIMATED TOTAL PROVED RESERVES Upside Locations PD* Operated Non-Operated TOTAL Oil (Mbbl) 27,570 61,419 5,560 94,549 Sales Gas (Mmcf) 65,585 261,607 23,684 350,876 Liquids…
  18. March 2016 Investor Update – Bonterra Energy Corp – slide 18
    DRILLING & COMPLETION INNOVATION Total Drill & Complete Cost Per Well 1 mile horizontal 3,000 2,500 D&C COST MM 2,000 1,500 1,000 500 0 2012 2013 2013 2014 2015 2016 MONOBORE DESIGN CEMENTED COMPLETIONS…
  19. March 2016 Investor Update – Bonterra Energy Corp – slide 19
    MANAGING CAPITAL AND CASH FLOW Preserve long term cash flow given market volatility Continued focus on capital and operating cost optimization Capital costs on a per well basis reduced by 27% Operating costs reduced by 14% per BOE…

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