CORPORATE PRESENTATION November 2016 All amounts in Canadian dollars unless indicated otherwise
NuVista Snapshot NuVista Corporate Info TSX Trading Symbol: NVA Market Capitalization: 1.2 billion Basic Shares Outstanding1: 172.5 million Bank Revolver Capacity1: 200 million Percent Drawn1: 0% Net Debt:Funds from Operations2:…
NVA Principles and 2016 Guidance Focused on the Long Term Flexibly Managing the Short Term Maintain Balance Sheet Profitable Growth Tuned Reducing Costs & Strength to Market Environment Improving Performance Net debt/funds flow from…
The Alberta Condensate-Rich Montney A Sweet Spot in a World Class Play 1. Scalable/Repeatable Deposition on the shelf edge not isolated pockets Gas charged top to bottom Over-pressured low water saturation High Quality 2. Porous…
The Alberta Condensate-Rich Montney Industry Drilling and Production Growth Continues High level of industry activity continues Elmworth to Kakwa Montney HZ Activity Update* 850 Montney HZ wells licensed and/or drilled to T70 date…
Funded Growth Plan Strong growth with managed Debt/Funds Flow Capital Expenditures (MM) Production (MBoe/d) 400 Upside Case Base Case 50 Upside Case Base Case 330 40.0 300 40 300 273 31.0 30 215 25.5 200 22.4 280 35.0 260 20…
Steady Progress and Improvement Efficiency and Well Costs Montney Well Cost (DCET) By Year Average Annual Montney Drilling Curves 14 0 2013 2014 2015 2016 Recent Wells 12 1,000 10 2,000 3,000 (MM) 8 Depth (m) 4,000…
Montney Operations Activity Update Activity Highlights R8W6 Pipestone R7W6 R6W6 2017 Spud 3 New Elmworth IP30's in Q3 higher than expected T70 condensate yields record average well costs Two extended reach horizontals licensed in…
New Development Blocks Defined Pipestone and Gold Creek Type-Curves Established Pipestone Pipestone Emerging Dev Block Gold Creek On Production Four layer development potential in the Initial type-curve 4.0 Bcf, 60 Bbls/MMcf Montney…
Montney Development Block Inventory Zones Currently in Development Elmworth Pipestone Gold Creek Bilbo Middle Montney 'D' Tested Not Tested 3 Producers 14 Producers Offsetting Middle Montney 'C' Production Not Tested 5…
Bilbo Development Block Pad-Drilling and Maximizing Facility Throughput 2 rigs drilling now Six-well pad. Spud Jan 2017 South Montney Sales Production Cumulative-to-Date Bbls/MMcf 16 T66 Condensate Sales Gas NGL's C5+ 14 54 Butane…
Relentless Improvement Bilbo Well Performance and Economics Bilbo Well Production to-Date(1)(2) Bilbo Development Type Curve Inputs and Economics 700 Optimized Type Base Type Curve Half-Cycle Inputs Base Type Curve 2011-2013 (11…
Extended-Reach Horizontals (ERH) Longer Wells Exhibit Increased IP180 Bilbo IP180 vs. Type Curve NVA Extended Reach Montney Horizontals 2,000 Bilbo TC 1,800 Encouraging 1,600 ERH Results Total Sales IP180 (boe/d) 1,400 04-05…
Elmworth Development Block Volume Ramp In-Progress North Montney Sales Production R9W6 R8W6 3 Well pad on-stream in September 12 T69 Record Average DCET Cost 5.1MM/well Cumulative-to-Date Sales Gas NGL's C5+ Bbls/MMcf 10…
Relentless Improvement Elmworth Well Performance and Economics Elmworth Well Production to-Date Elmworth Dev Type Curve Inputs and Economics 700 Base Type Curve Optimized Type Small Frac (3 Wells) Half-Cycle Inputs Base Type Curve…
Gold Creek Development Block Initial Type-Curve Established 2016/17 Early Development Activity and Infrastructure Gold Creek Highlights Gold Creek Geology Gamma Porosity % Up to 3 developable layers 20 0 4-24 Condensate yield…
Gold Creek Development Block Encouraging Initial Results Attractive Baseline Economics Next Step: Increase Length (ERH) Gold Creek Base & Optimized TC Production Profile Gold Creek Dev. Type Curve Inputs and Economics 1,800 Gold Creek…
Pipestone Development Block Initial Type-Curve Established Facilities in Planning Phase for 2019-20 Development Pipestone Highlights Pipestone Geology ECA Pipestone 'Super- Gamma Porosity Condensate' Up to 4 developable layers 20 0…
Pipestone Development Block Robust Initial Type-Curve Economics Offsetting Well Production vs. NVA Type Well(1) Pipestone Dev. Type Curve Inputs and Economics 8,000 2016 Pipestone Type Curve Raw Gas Rate Half-Cycle Inputs Base Type…
Wapiti Montney Firm Egress Counts Built-in growth with generous capital flexibility in the short term and multiple options for the long term Grande Prairie SemCAMS Wapiti Sour Gas Plant Status: FID 2019 Startup Raw Gas Capacity: 200…
Wapiti Montney Processing Capacity Room to run 60,000 Boe/d Capacity in-place Firm Capacity with TOP flexibility built in 300 60,000 250 Montney Raw Gas Capacity (MMcf/d) 50,000 Montney Capacity (Boe/d) 200 Pipestone…
Commodity Price Risk Management Continuing Rolling Hedging Program Crude Oil Hedge Position 5,000 75.00 Floor C WTI price of 4,000 70.00 70.70/Bbl on 67% of 2016 Q4 net production Hedged Volume, Bbl/d Price, C/Bbl 3,000…
NuVista Looking Forward Flexibility and Strength in a Volatile Environment Balance sheet management Top plays win at any price, wells keep improving Focused capital discipline & reducing unit costs No material unutilized TOP cost…
2017 Capital Guidance Ramping-up Production to Fill Existing Infrastructure 2016E Capex Range (MM) 2017E Capex Range (MM) DCET & Well Optimization 35 Facilities, Water Mgmt & Other 40-60 170-180 220-240 200-215 MM 260-300…
2015 Year-end Reserves Report 2015 Year-end Reserves Report GLJ Petroleum Consultants Ltd. PDP reserves volume increased 40% before production and dispositions, or 13% after Corporate TP+PA reserves volume increased by 15% Corporate…
Condensate Pricing Strong Demand and Premium Price for the Long Term Western Canadian Condensate Pricing Condensate is used in Alberta as a diluent to ship heavy oil on pipelines Condensate in Alberta is typically priced at a…
Lower Montney Activity NuVista Data Collection In-Progress R9W6 R7W6 R5W6 R3W6 Multiple pilot wells in progress by T70 Pipestone SCL 15-1-69-6W6 industry Early Production Data Tested: 1.9 MMcf/d and 174 bpd C5+ Emerging…
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