ERF: TSX & NYSE Enercom Oil & Gas Conference August 15, 2016
Investment Highlights Well positioned to re-establish growth Strong balance sheet Improved netbacks through cost reductions and narrowing differentials Industry leading capital efficiencies Strong & focused portfolio Three core…
Top Tier Asset Portfolio Core growth positions supported by free cash flow generating assets 2016E Capital Allocation 2016E Production (MM) Canadian Oil Waterfloods 20 Base Assets 15,000 16,000 BOE/d 50 53% 47% Long-life, low…
Portfolio Evolution Improved Concentration Portfolio increasingly focused on three areas that now represent 90% of company production and 95% of 2P reserves Over 60% of capital over the last five years directed to North Dakota and the…
Track Record of Disciplined Growth Production CAGR(1) from 2011 2015: 9% Debt & dividend adjusted production CAGR from 2011 2015: 10% Debt & Dividend Adjusted Production Per Share 120,000 0.250 Debt & Dividend Adjusted…
2016 Outlook & Q2 Highlights Increased production guidance to 92 94 MBOE/day (from 90 94 MBOE/day), Strong despite Q2 divestments; primarily due to strong Marcellus production Operational Liquids production guidance 43 45 bbls/day; 47%…
Balance Sheet Overview Significant Liquidity Available: Credit Facility Undrawn & Cash in the Bank(3) Debt Composition CDN49 MM cash balance and CDN800 million unsecured bank credit facility undrawn at June Senior Undrawn Notes 30,…
Margin Improvement Cost Reductions Driving Margin Improvement Strong operational execution and cost focus are driving operating costs lower even as proportion of company liquids production increases Divested of properties with…
High Quality, Efficient Assets 2015 3-Year Avg F&D, including FDC(1) 2015 Capital Efficiencies(2) Strong capital efficiencies; 90% of capital focused Consistently delivering competitive F&D costs on crude oil projects driven by the…
Hedging Summary WTI & NYMEX Crude Oil Hedging Summary(1) Natural Gas Hedging Summary(1) 100% 70 100% 3.00 % Production Hedged, net of royalties(2) 90% 90% % Production Hedged, net of royalties(2) 60 NYMEX Price Hedged…
Fort Berthold Overview Fort Berthold, North Dakota Key Facts Discovered OOIP(1) 22 35 MMbbls/1280 DSU Discovered OOIP(1) 1.4 billion bbls Recovery Factor 15% Net Acreage 72,500 acres 2P Reserves(2) 144 MMBOE Contingent Resources(2)…
Fort Berthold Position Core Acreage, Strong Well Performance 100% of Enerplus Acreage is in the Core Fort Berthold Well Results 350,000 1,200 Mbbl Type Curve Acreage Quality 2014-2016 wells Avg Long Laterals Peak Monthly Production By…
North Dakota Well Performance vs Peers Acreage Position and Completion Design Driving Best in Basin Well Performance Average First 6 Months Cumulative Oil Production Per Well NDIC Data All long lateral wells in North Dakota brought…
Fort Berthold Inventory Significant Running Room Op + Operated NonOp Only Operated Operated Operated Well Well Years Years Years Count Count Inventory Inventory Inventory Well Status Location Category Net Gross 1 Rig 2 Rigs 3…
Well Density and Lower Three Forks Further Upside Potential 10 Wells 11 Wells High Density Units Current well counts Enerplus current density plans: In offsetting DSUs 4 Bakken wells, 4 Three Forks wells Enerplus very early in…
Marcellus NE Pennsylvania Marcellus Acreage, Pennsylvania Key Facts Enerplus Land Net Acreage 47,000 acres Thickness Marcellus Well 2P Reserves(1) 841 Bcf Contingent Resources(2) 803 Bcf Future Net Drilling Locations 128 wells…
Marcellus Well Performance and Economics Marcellus Type Curves Type Curve Economics(1)(2)(3) Gas (Bcf) 10 15 5.0 15 Bcf Type Curve 10 Bcf Type Curve 11 IP30 (MMcf/d) 8.3 11.0 4.5 2014 Onstream Actuals 95 IRR Pretax (%) 12% 26% 57 15…
Enerplus Marcellus Marketing Portfolio 200 Enerplus Committed Sales and Transport 180 160 140 '000 Dth/day 120 100 80 60 40 20 0 TETCO M3 Leidy/TGP NYMEX Equiv. Transco Zone 6 NNY Term Sales & Transport - 2017 Term…
Why Invest in Enerplus Strong financial position with significant liquidity Consistent operational execution Material cost reductions driving margin improvement High quality drilling inventory and strong capital efficiencies…
2016 Guidance Update August 2016 Guidance May 2016 Guidance February 2016 Update(1) Update Guidance Capital Spending 215MM 200MM 200MM Average Production (BOE/d) 92,000 94,000 90,000 94,000 90,000 94,000 Average Liquids (bbls/d)…
2016 Funds Flow Sensitivities Est. effect on 6 Months Est. effect on 6 Months 2016 Funds Flow 2016 Funds Flow per Share 2016 Six Month Sensitivities ( Million) (/share) Change of 5.00/bbl WTI crude oil 28 0.12 Change of 0.50/Mcf NYMEX…
Deleveraged Balance Sheet in Low Commodity Price Enhanced financial flexibility 45% reduction in debt, net of cash since year-end 2015 Net Debt(1) Debt/ (Millions) Funds Flow WTI 98/bbl WTI 93/bbl WTI 49/bbl WTI: 40/bbl 3.5x 1,400…
Crude Oil Hedging Summary 2H 2016 2017 Hedge position as % of forecasted 39% 39% production(1) Hedged 61% 61% Unhedged Volume Price Volume Price (bbl/d) (US/bbl) (bbl/d) (US/bbl) 3 Way Collars Sold Puts 12,000 45.09 12,000…
Natural Gas Hedging Summary Jul - Oct 2016 Nov - Dec 2016 2017 Hedge position as % of 22% 20% forecasted 33% production(1) Hedged 67% Unhedged 78% 80% Volume Price Volume Price Volume Price (Mcf/d) (US/Mcf) (Mcf/d) (US/Mcf)…
Northeast Pennsylvania Pipeline Projects 6.5 Bcf/day of Projects Planned Incremental Takeaway Project Pipeline Owner Destination In Service (MMcf/day) Transco - Leidy Southeast Transco Williams In Service Southeast In Service…
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