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Peters & Co Energy Conference – Cequence Energy Ltd.

Cequence Energy Ltd. · Sep 13, 2016 · 23 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. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 1
    Positioned for Gas Growth September, 2016 TSX:CQE 1
  2. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 2
    Corporate Overview Trading Symbol TSX: CQE H1 2016 average production 9,040 boepd 2016 production guidance 8,500 boepd 52week trading range 0.23 .64 Shares outstanding 211 MM Insider ownership (1) 6.5% Market capitalization…
  3. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 3
    2016 Strategy and Accomplishments Reduced cost structure: G&A expenditures down 17% YTD from prior year (1) and expect 32% reduction by Q4 2016 Operating cost improvements 23% reduction in Q2 2016 operating costs per boe from 2015…
  4. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 4
    Strategic Advantage Large established reserves (1): 126 MMboe proved plus probable (86% gas) CANADA Significant upside: 3.8 TCF gross (2) of Upper Montney USA resource with 150 net unbooked locations (3) Multi zone targets: 86…
  5. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 5
    Sustainable Cash Cost improvements 5 MM per year savings 23 % decrease in YoY operating expenses before capital midstream fees Q2 Q2 Performance tested alternative chemical /boe 2016 2015 Change suppliers. treating cost for…
  6. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 6
    Simonette Montney Large Recognized Inventory CQE 1633 121 MMboe proved plus probable booked reserves (1) Stacked horizons: Dunvegan, Gething, Falher, Wilrich, Montney 3.8 TCF gross Montney resource in place (2) PDP: 12.3 Mboe…
  7. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 7
    Cequence 1633 Montney Gas Well Improved Results 16336127W5: 180 day comparison to 2014/15 average 1.6 times produced gas (1 bcf vs 0.6 bcf) 2.9 times cumulative condensate (50 Mstb vs 17 Mstb) Cumulative 6 month yield 50 bbl/mmcf…
  8. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 8
    1633: West Area Higher 1st Year Netback Historical Average 1633 West Well Simonette C5 Yield (bbl/mmcf) 25 50 C5 Yield is double the historical average well(1) Gas Price (C/GJ) 3.00 3.00 Oil Price (US/bbl) 50.00 50.00 West Montney…
  9. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 9
    Montney Drilling & Completion Costs Driving Improved Performance 0 Montney Drilling Curves 1000 Implemented Montney drilling design changes saving time and providing flexibility 2000 Simplified drilling path Depth (TMD m)…
  10. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 10
    Improved Commercial Impact Mean booked well inventory length increased 25% to 2,500 m 2,500 m Mean 1633 3% GORR, 50 Operating cost initiatives captured in economics 50 WTI, 3.00/GJ CDN Well (1) bbl/MMcfd C5 Parameters Western lands…
  11. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 11
    Simonette/Karr Dunvegan Light Oil Development Dunvegan Oil play at Simonette is KARR ANALOG analogous to the Karr Oil Pool 9 gross (7.5 net) sections identified with oil Simonette Type Log CQE 109 development potential in…
  12. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 12
    Simonette Dunvegan Oil CQE 711 production to end of July 2016 (1 year) 80 Mbbl and 440 MMcf gas IP 365: 220 bbl/d, 420 boe/d Less than 2% watercut 2,000 bbl/d facility built with solution gas gathering to CQE/KANATA Simonette…
  13. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 13
    Simonette Egress Major Facility Capital Spent Optionality on both major gas systems in Alberta R2 R1W6 R27 R26 R25 R24 R23W5 120 MMcfd refrigeration plant (50% WI) Cequence Alliance T64 Meter Station onstream Jan 2016.…
  14. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 14
    Cequence Growth A Scenario A measured growth profile of 11% CAGR can be achieved with capital expenditures limited to EBITDA beginning in 2017 Accelerated volume growth achievable with higher capitalization Profile includes 85…
  15. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 15
    Hedging Contract Type Volume GJ/d CAD Price GAS 2016 July 1, 2016 to September 30, 2016 Average Gas Swap 22,500 2.56/GJ AECO 2016 October 1, 2016 December 1, 2016 Average Gas Swap 20,000 2.65/GJ AECO 2017 January 1, 2017 March…
  16. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 16
    In Summary Why own CQE RESTRUCTURED: To lean, operational focused team. IMPROVED COSTS: 17% lower YTD G&A costs with 32% total reduction expected by Q4 2016 Demonstrated improved operating cost structure with leverage to…
  17. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 17
    Appendix TSX:CQE 18
  18. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 18
    Management and Board Management Team Board of Directors Todd Brown CEO Don Archibald Chairman Dave Gillis EVP and CFO Peter Bannister Dave Robinson VP Exploration and Chief Geologist Rob Cook Chris Soby VP Land and Corporate…
  19. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 19
    Simonette Deep Basin Stack Dunvegan Wilrich Montney Simonette Upper CURRENT HORIZONTAL TARGET ZONE Falher Bluesky / Gething POTENTIAL HORIZONTAL TARGET ZONE TSX:CQE 20
  20. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 20
    Multiple Zones with Significant Resource Potential at Simonette CEQUENCE LAND Zone Total Resource Potential/Sec (1) 2,400m Dunvegan Gas 525 BCF Dunvegan Oil 510 MMBBL 2,500m Falher 524 BCF 2,700m Wilrich 524 BCF…
  21. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 21
    Reserves and Finding Costs solid growth per share in reserves FD&A (/Boe) Reserves (MMboe) 2P Reserve Value (MM) 16.00 140 0.7 1200 6 126 14.00 118 120 0.6 1,004 113 1000 5 12.00 854 10.00 100 91 0.5 797 800 4 8.00 715 80 0.4…
  22. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 22
    Corporate Guidance 2016 Average Production (Boe/d)(1) 8,500 Capital expenditures, net of dispositions (2) 7 MM Operating and transportation costs per Boe 11.30 G&A costs per Boe, prior to restructuring charges of 0.60/boe 2.20…
  23. Peters & Co Energy Conference – Cequence Energy Ltd. – slide 23
    www.cequenceenergy.com Contacts: Todd Brown David Gillis 3100, 525 8th Avenue SW Calgary AB T2P 1G1 CEO EVP & CFO Phone: 4032293050 Fax: 4032290603 tbrowncequenceenergy.com dgilliscequenceenergy.com TSX:CQE 25

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