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September 2016 Corporate Strategy Presentation – Delphi Energy Corp.

Delphi Energy Corp. · Sep 1, 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. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 1
    CORPORATE STRATEGY PRESENTATION SEPTEMBER 2016
  2. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 2
    CORPORATE SNAPSHOT CORPORATE INFORMATION KEY OPERATIONAL FIGURES Ticker Symbol TSX:DEE July 2016 Production boe/d 8,500 (64% gas) Basic Shares Outstanding (mm) 155.5 Dec. 31, 2015 Reserves (P+P) (mmboe) 45.5 (67% gas) Market…
  3. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 3
    KEY VALUE HIGHLIGHTS Pure Play Montney E&P Company with WORLD CLASS ASSETS AND A TRACK RECORD OF SUCCESS WORLD CLASS Substantial drilling inventory on 139 sections of land; 8 sections currently fully developed MONTNEY GROWTH Bigstone…
  4. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 4
    BIGSTONE MONTNEY OVERVIEW Scalable and Repeatable Southeast corner of the unconventional Montney trend Developed with extended reach horizontal wells and slickwater fracing - material capital cost advantage Continuous hydrocarbon…
  5. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 5
    BIGSTONE SOUTHERN END OF PROLIFIC LIQUIDS RICH MONTNEY TREND Producing Wells by Operator Elmworth 100 80 Top 10 in of Montney Wells Drilled Wapiti 60 Karr 40 Kakwa 20 Simonette 0 Company Company Other Company Company…
  6. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 6
    DOMINANT LAND POSITION IN BIGSTONE MONTNEY Largest Land Position at Bigstone Delphi continues to identify and pursue additional land EAST BIGSTONE Montney land position grown from 4.0 to 139 consolidation opportunities gross (117.1…
  7. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 7
    STRATEGIC INFRASTRUCTURE AT BIGSTONE Rge25W5 Rge24 DEE 7-11 Significant Infrastructure In Place DEE Negus 11-03 55 mmcf/d Gas Plant Montney Facility 100% owned 55 mmcf/d sour dehy and compression facilities Future DEE Legacy…
  8. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 8
    MARKET ACCESS ADVANTAGE Exceptional Gas Marketing Secured firm service agreement to access larger Chicago gas market for better pricing Pricing has been significantly better that AECO Secured firm service minimizing exposure to…
  9. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 9
    DELPHI / ALLIANCE FIRM TRANSPORTATION SERVICE 80.0 Delphi Transportation Capacity on Alliance / TCPL (mmcf/d) 70.0 60.0 July 2016 Average Natural Gas Production 50.0 Staged firm service capacity on Alliance to deliver natural…
  10. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 10
    CONSISTENT AND PROVEN RISK MANAGEMENT PROGRAM Consistent Hedge Performance Natural Gas 2H/16 Q1/17 Q2 - Q4/17 2018 2019 % Hedged 78% 73% 59% 30% 21% Majority of near term production is Hedge Price (Cdn /mmbtu) 4.44 4.28 4.21 3.77…
  11. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 11
    28 BIGSTONE MONTNEY WELLS DRILLED Progressive improvements in Drilling Results Drilled 5 horizontal wells in 2012; Average IP30: +1,200 boe/d (19% liquids) Conventional gelled oil frac designs Began extended reach laterals of 2,200…
  12. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 12
    MONTNEY GROWTH AT BIGSTONE Bigstone Montney Liquids-Rich Gas Play Montney Production 10,000 Southeast corner of Alberta liquids-rich Montney Growth is trend, 100 300 bbl/mmcf Condensate & NGL 8,000 accelerating into 2017 28 wells…
  13. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 13
    CONSISTENT ECONOMIC RESERVE GROWTH Montney Proved Producing Reserves (mboe) Montney Development (2012 to Q2 2016) 11,626 28 wells drilled life-to-date (LTD) Economic Montney reserve 9,781 growth with 2015 PDP FDA Produced 7.2…
  14. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 14
    HIGHER CONDENSATE YIELDS BOOSTING ECONOMICS DEE 13-21 Continuing Frac Innovation 2015 Drill DEE 16-30 Refrac IP30 CGR 252 bbl/mmcf IP7 day Larger fracs CGR 140 bbl/mmcf Higher pump rates ATH 2015 Wells Higher sand concentrations…
  15. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 15
    OUTSTANDING WELL PERFORMANCE At day 158 13-21 gas rate flat at 3mmcf/d Condensate yield at 115 bbl/mmcf sales IP90 (mcfd raw) 473 wells of 724 wells drilled 16 48 20 5,000 88 33 30 4,000 57 94 473 3,000 59 26 2,000 1,000…
  16. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 16
    DELPHI WELL COST IMPROVEMENTS Delphi Delphi Well Well Costs Costs Montney Capital Efficiencies 12,000 Well costs 35% 600 Average Completion Cost/Stage (000) Drilling & Completions: 10,000 500 Average drilling & completion…
  17. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 17
    MONTNEY ECONOMIC MODEL DEE Type Well Bigstone Montney Toe Up Two Section Horizontal Hypothetical Type Wells 30+ stage Slickwater Completion Economics/Metrics - August 31, 2016 Strip Pricing(1) Type Well Rich Type Well Payout yrs…
  18. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 18
    DRILLING PLANS MOVING WEST Legend Bigstone West Drilled DEE 13-21 Well IP90 1,077 boe/d Drilling 2017 Montney pay thickness CGR 194 bbl/ mmcf condensate increasing; 6 laterals per section spacing Multi-layer drilling Natural…
  19. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 19
    2017 AND BEYOND MAINTAINING KEY VALUES World Class Montney Asset Continued new well innovation; Significant infrastructure and processing capacity in place IP90 (mcf/d) Market Access 473 Wells of 724 Wells Drilled Secured firm…
  20. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 20
    APPENDIX
  21. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 21
    INDIVIDUAL MONTNEY WELL DATA Very strong long term performance Even with payouts stretched to 1.9 years from 1.0 years previously: Slow-back experiment 250 - 350 boe/d Significant free cash flow September 2016 22
  22. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 22
    COMMODITY PRICES: MANAGING VOLATILITY NYMEX NatGas vs. Crude Historical Settlement Pricing NYMEX Contract PricingVolatility creates hedging opportunities CDN/US FX GAS US/MMBTU CRUDE US/BBL Commodity price volatility…
  23. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 23
    HEDGES PROTECTING CASH FLOW Natural Gas (Cdn) Jul Dec 2016 Jan Mar 2017 Apr Dec 2017 Volume (mmcf/d) 2.4 2.4 2.4 % Hedged (1) 7% 7% 7% Hedge Price (Cdn /mcf) (2) 3.89 3.96 3.96 Strip Price (Cdn /mcf) 2.68 2.98 2.75 Natural Gas…
  24. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 24
    YIELD GROWTH REPLACES HEDGING GAINS IN 2017 2.10/boe 45.00 hedging gain forecast in 2017 2016 40.00 13-21 2016 IP30 2017 drilling program will 35.00 12.00/boe increase Recycle Ratio = 2.3 continue to generate robust in…
  25. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 25
    LIQUIDS-RICH MONTNEY STUDY ELMWORTH TO BIGSTONE Large Data Set Elmworth 473 Montney wells with IP90 of 724 wells drilled to YE2015 Wapiti Company 6 Delphi Company 7 Bigstone Delphi Company 3 Kakwa Company 4 Company…
  26. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 26
    LIQUIDS-RICH MONTNEY STUDY ELMWORTH TO BIGSTONE Producing* Wells by Rig Release Date Total Wells (with IP90): 473 200 180 160 140 120 100 80 60 40 20 0 2008 2009 2010 2011 2012 2013 2014 2015 Producing Wells by…
  27. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 27
    LIQUIDS-RICH MONTNEY STUDY PRODUCTION BY OPERATOR (GAS IPS ONLY) IP90 (mcfd raw) IP180 (mcfd raw) 473 wells 418 wells 5,000 5,000 4,000 4,000 3,000 3,000 2,000 2,000 1,000 1,000 16 48 22 88 33 30 57 94 59 26 473 15 76 21 41 56…
  28. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 28
    LIQUIDS-RICH MONTNEY STUDY EVOLUTION OF DEPTH & HORIZONTAL LENGTH Average Measured Depth (m) Average Horizontal Length (m) 6,000 3,000 Delphi Avg 5,500 2,500 Delphi Avg 5,000 61 177 101 2,000 61 4,500 42 61 177 20 101 4,000…
  29. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 29
    LIQUIDS-RICH MONTNEY STUDY EVOLUTION OF FRAC DENSITY Average Number of Stages per Well Average Frac Spacing (m) 200 30 Delphi Avg (29 stages) 180 6 25 160 59 176 140 2 39 20 120 100 16 Delphi Avg (97m) 60 100 51 15 40 85…
  30. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 30
    LIQUIDS-RICH MONTNEY STUDY EVOLUTION OF FRAC DENSITY Number of Wells IP90 (mcfd raw) 200 465 wells 180 5,000 160 140 4,000 28 79 120 149 90 21 80 100 3,000 80 18 2,000 60 40 1,000 20 0 0 0 - 10 11 - 15 16 - 20 21 - 25…
  31. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 31
    LIQUIDS-RICH MONTNEY STUDY EVOLUTION OF PROPPANT PLACED Proppant Placed 1.40 6,000 1.20 5,000 1.00 4,000 Delphi Avg (0.76 t/m) 0.80 3,000 0.60 2,000 0.40 1,000 0.20 42 61 100 175 59 2 8 19 0.00 0 2008 2009 2010 2011…
  32. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 32
    LIQUIDS-RICH MONTNEY STUDY EVOLUTION OF FLUID PUMPED Fluid Pumped 5.00 20,000 18,000 4.00 Delphi Avg (3.65 m3/m) 16,000 14,000 3.00 12,000 10,000 2.00 8,000 6,000 1.00 4,000 2 8 19 42 61 100 175 59 2,000 0.00 0 2008 2009…
  33. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 33
    LIQUIDS-RICH MONTNEY STUDY FRAC TYPES Fracs by Fluid Type Fracs by Fluid Type 250 (mcfd raw) 228 5,000 4,500 200 176 4,000 3,500 150 3,000 2,500 107 2,000 100 1,500 1,000 45 500 50 0 IP-90 IP-180 IP-1YR IP-2YR IP-3YR 0…
  34. September 2016 Corporate Strategy Presentation – Delphi Energy Corp. – slide 34
    LIQUIDS-RICH MONTNEY STUDY DRILLING EFFICIENCY Average Drilling Days Average Penetration Rate (m/d) 60 250 50 Only 2 wells in 2008 dataset (both with 40 200 horizontal lateral lengths less than 800m) 30 Delphi Avg 150 20 57…

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