Penn West Corporate Profile TSX: PWT NYSE: PWE Share Price /share 2.22 *Jan 31, 2017 PWT Daily Volume (shares) MM 2.7 % of Shares Outstanding 0.5% PWE Daily Volume (shares) MM 2.0 % of Shares Outstanding 0.4% Market…
Penn West Is A Liquids Focused Growth Company 2017 plan to grow production by 15% in our Key Development Areas, utilizing only 80% of available Funds Flow from Operations Index Map Peace River 90 kms Manufacture Cold Flow 56…
2017 Corporate Themes Strategy Details Integrated Waterflood development 55 well program, including 45 vertical to build long-term low-decline injection wells and 10 horizontal Build Cardium Waterflood platform for light-oil growth…
2017 Total Capital Budget of 180MM 2017 Budget expected to be fully paid for with Budget Funds Flow from Operations; targeting Development Themes Reinvestment Rate of 80% Pembina Dev MM 33 Willesden Green Dev MM 34 Optimization…
Cardium Area Building Waterflood Platform Size of the prize is based on 2.5 3.0 billion barrels of Original Oil in Place in our Cardium acreage Potential recovery factors of 35% based on production history of legacy fields bordering…
Willesden Green Waterflood Program Illustrative 2017 Willesden Green Integrated 2017 Budget will focus on Integrated Waterflood Program with Vertical Injectors Waterflood Development in Willesden Green (Crimson) and Simultaneous…
Manufacture Peace River Cold Flow 2017 Peace River Area Historical Drill World class cold flow heavy oil play with 5-7 Costs (/meter) years of identified locations JV partner funds 90% of capital and operating Days to Drill…
Leverage Infrastructure with Viking Prospects AB Viking Industry Horizontal Wells PWT infrastructure advantage with two 2012-2016 Vintage (boe/d) existing gas plants with 15 mmcf/d 225 capacity 200 Average of 9 PWT wells brought…
Pursue New Ventures (Pembina Area Example) FORMATION Cardium BELLY RIVER Prospective Zone COLORADO SHALE High netback oil-weighted production base Current Long and successful history as top CARDIUM Development operator in the…
Corporate Declines PWT corporate decline from 22% YE15 to 19% currently in Key Development Areas is extremely competitive with peers Integrated waterflood investment can reduce corporate declines to 15% longer term Results in more…
Strong Organic Growth Profile Self funded growth at industry leading cost structure Sold & Held for Sale 13,500 boe/d 15% Exit to Exit Growth Key Development Areas 25,000 boe/d FY 2017 27,000 29,000 boe/d Q4 2016 Key…
Strong Hedge Position for 2017+ Oil Volumes Hedged (bbl/d) Gas Volumes Hedged (Mcf/d) 50% of Net Oil Volumes Hedged for FY 2017 30% of Net Gas Volumes Hedged for FY 2017 8,600 20,852 7,800 7,900 18,956 7,400 17,061…
Solid Balance Sheet Sets the Stage Bank Debt + LOCs + Senior Notes (MM) 600 500 480…
Margins Are An Excellent Engine for Cash Implied FX Rate Oil & Gas Hedging OPEX Royalties Transportation Netback Incl. Hedging (CAD/USD) 1.325 All numbers are C/boe 29.00 27.75 26.25 19.50 21.50 24.75 23.25 1.75 1.75…
Why Invest in Penn West Organic Growth Profile Leading Cost Structure Target 15% Key Development Competitive operating and Area production growth at capital costs in Key current prices Development Areas Balanced Portfolio…
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