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June 2016 Corporate Presentation – Northern Blizzard Resources Inc

Northern Blizzard Resources Inc · Jun 22, 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. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 1
    June 2016 Corporate Presentation
  2. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 2
    Corporate Highlights Common Shares TSX: NBZ Reserves Public Float 29.8 million shares / 25% DOIIP (net)(3) 2.1 billion bbl Management(1) 5.1 million shares / 4% 2P Reserves(3) 153 million boe NGP / Riverstone 83.1 million shares /…
  3. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 3
    Investment Highlights Approximately 2.1 billion bbl DOIIP(1) with 12% recovered World-Class 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. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 4
    World-Class Oil Resource Base Significant high-quality 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 Assets are located…
  5. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 5
    Decline Rate (%) bbl/d 0% 10% 20% 30% 50% 40% 46% 13,000 14,000 15,000 16,000 17,000 18,000 19,000 20,000 22,000 23,000 21,000 46% 1/1/2014 45% 2/1/2014 43% Corporate Presentation 3/1/2014 43%…
  6. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 6
    Credit Capacity & Liquidity Debt Composition Bank Credit Facility Jun 2016 300.0 million borrowing base NBRI is in compliance with financial covenants: Dec 31, 2015 Dec 31, 2016(1) Senior Debt(2) / EBITDA (=< 3.0) - - EBITDA /…
  7. June 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 C18.92/bbl WCS differential WTI (C/bbl) 50.00 8,000 bbl/d 2017 3.7 mmbbls…
  8. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 8
    Operating & Capital Cost Improvements 25.00 Operating cost improvements 20.00 Operating costs of 14.66/boe (Q1 Operating Costs (/boe) 2016) are 30% lower than 2014 15.00 2016 operating costs expected to be 10.00 44 million…
  9. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 9
    2016 Guidance & Sensitivities Guidance(1) Sensitivities(5) WTI (US/bbl) 44.86 35.00 55.00 WCS differential (US/bbl) (13.87) (14.00) (15.50) CAD/USD 1.310 1.400 1.280 Average production (boe/d) 19,000 19,000 19,000 Capital expenditures…
  10. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 10
    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,…
  11. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 11
    Breakeven Oil Price (C/bbl Ed. Par) 0 100 10 20 30 40 50 60 70 90 80 RMP (Ante Creek) - Montney Oil 29 Crescent Point - Bakken (Waterflood) 34 Surge (Valhalla) - Doig 36 Kelt (La Glace) - Montney Oil 38…
  12. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 12
    ROR Comparison for Coleville/Winter/Cactus Lake 120 Cactus Polymer Flood with Facilities Coleville Viking (Crown royalties) Winter with Facilities 100 80 Before Tax Rate of Return (%) 60 40 20 0 30 35 40 45…
  13. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 13
    NPV Comparison for Viking/Winter/Cactus Lake 1,200 Cactus Polymer Flood with Facilities Coleville Viking (Crown royalties) Winter with Facilities 1,000 800 Before Tax NPV 10% Discount (000) 600 400 200…
  14. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 14
    Cactus Lake Corporate Presentation June 2016 15
  15. June 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 8,200 boe/d Wells drilled to May 31, 2016 380(3) 311 locations Drilling inventory (18% unbooked)…
  16. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 16
    Cactus Lake Repeatable Development Phase ID Drill Vintage Polymer Started Well Count Infill Performance vs Type Curve 35 Phase 1 2012, 2013 2013 96 Waterflood Type Curve Phase 2A 2013 2014 18 30 Calendar Day Oil Rate (bbl/d)…
  17. June 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. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 18
    Cactus Lake Polymer Update Largest North American non-horizontal polymer flood by injection volumes Production response materialized in 2015 Planned Q3 2016 expansion: Add 12 polymer injectors, currently supporting 1,000 boe/d Total…
  19. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 19
    Cactus Lake Polymer Performance Oil Rate Normalized comparison between polymer flood 30 (PF) and waterflood (WF) areas 25 Oil Rate (bbl/d) 20 15 10 Oil rates are 5 comparable PF WF 0 0 10 20 30 40 50 60 Water Rate…
  20. June 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 2,000 2014 2013 2012 1,000 2011 Sparky 0 Base Jan-11 Jan-00…
  21. June 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. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 22
    Winter Corporate Presentation June 2016 23
  23. June 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 2,850 boe/d Wells drilled to May 31, 2016 192 gross +450 gross locations(1) NBRI Drilling…
  24. June 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 (May 31, 2016) Superior economics Winter development provides better economics…
  25. June 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. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 26
    Coleville Corporate Presentation June 2016 27
  27. June 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 - Teine Other Operators Company Land Smiley and Whiteside are expected to provide average peak production…
  28. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 28
    Coleville Development Opportunity One of the largest tight oil plays in western Canada Drilled 48 wells from 2014 to May 2016 Opportunity to develop +300 locations 112 low risk drilling locations recognized in independent reserves…
  29. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 29
    SAGD Plover Plover North North SAGD SAGD Plant Plant A3P A4P A3I A4I A5P A6P A5I A6I Corporate Presentation June 2016 30
  30. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 30
    SAGD Development Repeatable Opportunities Large oil in place Huge upside potential Technology-driven recovery Significant advantages from existing Long life assets infrastructure T36 T35 DOIIP(1) 244 mmbbls R28 1. Management…
  31. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 31
    Plover Lake SAGD Technical Review & Conclusions Operation History & Review Facility has been operating since June 2014 Initial ramp up went according to expectations Performance declined throughout 2015 and into 2016 Performed…
  32. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 32
    NBRI Plover Lake SAGD Plover Lake Pad A Injected Steam vs Oil Production Corporate Presentation June 2016 33
  33. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 33
    Steam Injection at Historical High Plover SAGD Steam Injection 1,000 8 Pre-heat Steam Injection, m3/d CWE(1) A6 preheat 750 Current 6 iSOR, m3/m3 500 4 250 Sub-cool Cutting steam to 2 Ramp up recovery operate to an…
  34. June 2016 Corporate Presentation – Northern Blizzard Resources Inc – slide 34
    Corporate Information AUDITOR KPMG LLP ENGINEERING CONSULTANTS Ryder Scott Company - Canada INVESTOR CONTACTS John Rooney, Chairman & CEO Michael Makinson, VP Finance & CFO 1900, 421 7 Avenue SW, Calgary, AB T2P 4K9 (403)…

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