Why do we do what we do PPY embraces new ideas and technologies. It is in our DNA, it is part Innovation of who we are Win / Win Approaching all dealings with partners, shareholders, suppliers, and Relationships stakeholders…
Corporate Profile TSX Ticker Symbol PPY Average Daily Production (1) 99.6 MMcfe/day Daily Trading Volume (30 day trading average) 1.1 million shares per day (16,601 boe/d) Shares 100 million Debt (3) 113.6 million…
Asset Focus Montney Asset 100% BC Focused Montney Montney is one of the most prolific and economic natural gas and liquids plays 4.6 Tcfe (768 MMboe) Proved Plus Probable Reserves(1) (4.2 Tcf Natural Gas; 76 MMbbl liquids)…
Prudent Risk Management Financial Hedges Financial hedges protect funds flow and mitigate pricing volatility thereby reducing the impact of regional pricing disparities 400 AECO Fixed Price Hedges (/Mcf) Current and 69 350…
The Montney Trend Location, Location, Location PPYs Montney Sweet Spot is: a dolomitic siltstone with higher quality reservoir than a shale 4x thicker than the Marcellus at greater than 300m (984 ft) 300 meters (approximately…
2015 Reserves Deep, Long-Term, Underlying Value At December 31, 2015(1): 2P Reserves 4.6 Tcfe 7.5 2015 2P times Recycle Ratio (F&D) Increase in 2P Reserves from December 31, 2014 (1) 57% 1.5 2015 1P times Recycle Ratio (F&D)…
Canadian Natural Gas 2P Reserves As at Dec 31, 2015 49% Reduction 2015 Cost of Supply in FDC/Mcfe 33% Increase in 2P Undeveloped Reserves per well (13-15) 7.5x Recycle Ratio (1.23 Netback / 0.16 F&D) 10 1.48 2013 FDC/Mcfe (1)…
Reserves Growth Impressive and Consistent Assuming Enterprise Value 8.18/sh (7.50/sh equity + 0.68/sh net debt) 8.18/sh 1.06 / boe 900 = or 9 Proved Reserves 7.7 boe/sh Probable Reserves (46.1 Mcfe/sh) 0.18 / Mcfe 7.7 800 (46.1…
Reserves Growth Per Share Growth Comparison 9 80% 69% 2015 BOE per 1,000 Shares 2014 BOE per 1,000 Shares 8 2P Reserves per Share Growth (2015 over 2014) 60% 7.7 7 2P Reserves per Share Growth 40% 6 22% 18% BOE per…
Reserves Growth / Cost Reduction Bigger and Cheaper PPYs reserves per share Finding & Reserve continues to increase while cost of supply per Mcfe continues to Development Growth decline Costs 900 9 3.00 Proved Reserves 2013 2.77…
Land Position Premium Assets in the Optimum Location PPY Lands Petronas Lands Shell Canada Lands Royalty Line Large contiguous land base with year-round access Major Gas Pipelines Alaska Highway 217 Net sections (139,049 net…
Royalty Advantage Best Royalty Structure in North America Painted Pony is 100% in B.C. and 100% west of the Deep Royalty Line Inclusive of the B.C. Deep Well Royalty Credit, B.C. has the best royalty structure in North America PPY…
Sales Egress Optionality Firm Transportation Supports Increasing Production Volumes Firm capacity on Spectras T-North pipeline to service AltaGas Townsend Facility volumes in November 2016 Under terms of expanded firm capacity…
Facilities Key Infrastructure New AltaGas Townsend Facility: PPY Major new shallow-cut facility Operated Alaska Highway West Blair (25 MMcf/d) 198 MMcf/d licensed capacity PPY Blair Operated PPY has secured firm capacity for…
AltaGas Townsend Facility Construction Ahead of Schedule, Under Budget Expect mid-year 2016 completion (approximately 90% complete as at May 10, 2016) PPY budget assumes a September commissioning; earlier date is possible AltaGas…
AltaGas Strategic Alliance Deal with People You Trust in a Win / Win Alliance Liquids-Rich Natural Gas Processing Provides for the development of essential liquids-rich gas processing facilities Existing AltaGas PNG Mainline 10…
Production Growth Impressive and Consistent 50,000 Annual Average Daily Production per 1 Million Weighted-Average Shares 500 475 Oil & NGLs Natural Gas 45,000 Q4 2016 Exit Production 450 40,000 400 Annual Average Boe per Day…
Well Performance Top Performing Wells Among Montney Producers Painted Pony Average Peak Month Rate Twice Average Comparable Wells 275 7 140 Painted Pony PPY Wells (6.2 MMcf/d) Average Double 6 the Rates of All 120 2013-2014…
Capital Expenditures 2016 2016 Forecast Alaska Hi-way Period Capital Drilling Completions Blair West Blair/Townsend Q1 67.1 million 12 net wells 9 net completions Blair Interconnect Pipeline Q2 40 million (e) 4 net wells (e)…
3-Year Development Model Improved Well Performance Drives Down Well Count 60,000 Improved well performance has 350 reduced the number of wells 1st AltaGas Townsend necessary to meet production Facility targets from 105 net wells to…
Cost-Conscious Culture Driving Cash Costs Lower General & Administrative Costs per Boe 3.00 Focus on one large G&A Cost ( / boe) 2.73 2.00 property results in 2.19 1.92 efficiencies of 1.00 operations and staff 1.14…
Growth Case Further Capital Program Reductions 700 million (37%) capital program Capital Program (March 2015) reduction from 1.9 800 billion to 1.2 billion 110,000 Capital Program (March 2016) with unchanged production profile…
Sustainability Case Because you asked what if Free Funds Capital Program (March 2016) Flow 250 60,000 Capital Lease Fee 228 Funds Flow (Based on May 2, 2016 Strip Pricing) 60 Annual Average Daily Forecast Production (boe/d)…
Prudent Leverage Balance Sheet Strength Maintained 2.25 Natural Gas NYMEX 3.25 Natural Gas NYMEX (WTI and FX at May 2, 2016 Strip) May 2, 2016 Strip Pricing (WTI and FX at May 2, 2016 Strip) 3.4x 3.5 3.5 3.5 YE Net Debt : Q4…
Technology Parallel-Pair Completion Using Open Hole Ball-Drop Production Increase at No Cost Increase 5-K West Blair Blair 41-F 300-350 m Inter-well 90-100 m Average 11-F Spacing Fracture Stage Spacing 14-F 44-C…
Dramatic Increase in Capital Efficiencies Blair-Daiber High-Rate, Liquids-Enhanced 10 A 72% increase in 6-month 15.5 Bcfe EUR; cumulative production (1.4 Bcfe vs. 35% Initial Decline 0.8 Bcfe; 15.5 Bcfe vs. 11 Bcfe (6 months) 8…
2016 Development Plan & Economics Blair-Daiber High-Rate, Liquids-Enhanced Development Program Economics 4.8 million Drill, Complete, Equip & Tie-in 9.1 MMcfe/d IP30 Production Rate 15 bbls/MMcf Liquids Recovery (C3+) 7.4…
Improving Capital Efficiencies Townsend Liquids-Rich Sweet Spot 10 A 100% increase in 6-month cumulative production (1.0 Bcfe vs. 0.5 Bcfe; 9.5 Bcfe 8 Management Type Curve vs. Plug & Perf Type Well)) coupled with a capital cost…
2016 Development Plan & Economics Townsend Liquids-Rich Sweet Spot Development Program Economics 4.8 million Drill, Complete, Equip & Tie-in 7.4 MMcfe/d IP30 Production Rate 60 bbls/MMcf Liquids Recovery (C3+) 5.6 million NPV…
Development Economics Price Sensitivity 200% Blair-Daiber High-Rate and Liquids- Enhanced, Blair-Daiber 15 bbls/MMcf 175% Wells Deliver Significant (15.5 Bcfe Paired Parallel Type Well) Torque to Stronger Gas 150% Prices…
Best Pony in the Race Checking Off All of the Boxes Financing In Place Top Well Performance Low Well Costs Well Hedged Rapid Growth Lowest Royalty Framework Processing Capacity to Support Growth Firm Transportation Massive…
5-Year Development Model Improved Well Performance Drives Down Well Count 2nd AltaGas Townsend 120,000 Facility 700 The number of wells (48 MMcf/d) necessary to achieve annual production volume targets 2nd AltaGas Townsend has…
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