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February 2017 Corporate Presentation – Delphi Energy Corp.

Delphi Energy Corp. · Feb 6, 2017 · 37 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. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 1
    DELPHI CORPORATE STRATEGY ENERGY PRESENTATION CORP. FEBRUARY 2017
  2. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 2
    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 143 sections of land; 8 sections fully developed MONTNEY GROWTH Bigstone Montney…
  3. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 3
    CORPORATE SNAPSHOT CORPORATE INFORMATION 2017 GUIDANCE Ticker Symbol TSX:DEE Average Annual Production (boe/d) 9,000 9,500 Basic Shares Outstanding (mm) 155.5 Exit Production Rate (boe/d) 11,000 12,000 Market Capitalization (mm)…
  4. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 4
    DELIVERING EXCEPTIONAL MARGIN GROWTH 2016 Focus on Margin Growth Paid Off Condensate yields increasing and improving the cost structure 2017 condensate production forecast to more than double Condensate yields in recent wells have…
  5. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 5
    POSITIONED TO DELIVER EXCEPTIONAL PER SHARE GROWTH Successfully Managed Prolonged Commodity Price Downturn Since Q4 2014 Improved corporate position to grow production and funds from operations in 2017; Run rate funds to increase by…
  6. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 6
    MONTNEY GROWTH ACCELERATING IN 2017 Montney Production (boe/d) Q4/16 to Q4/17 Growth Comparison 12,000 ForecastYear Q42017 Q42016 Variance Growth accelerating through 2017 Production (boe/d) 11,000 11,500 7,000 61% 10,000…
  7. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 7
    BIGSTONE SOUTHERN END OF PROLIFIC LIQUIDS RICH MONTNEY TREND Producing Wells by Operator Elmworth 100 Top 10 in of Montney 80 Wells Drilled Wapiti 60 Karr 40 Kakwa 20 Simonette 0 CompanyCompany Other…
  8. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 8
    DOMINANT LAND POSITION IN BIGSTONE MONTNEY Largest Land Position at Bigstone Delphi continues to identify and pursue additional land Current Montney land position grown consolidation opportunities from 4.0 to 143 gross (87 net)…
  9. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 9
    STRATEGIC INFRASTRUCTURE AT BIGSTONE DEE 7-11 DEE Negus 11-03 55 mmcf/d Significant Infrastructure In Place Gas Plant Montney Facility 55 mmcf/d sour dehydration and compression facilities FutureDEE Amine REPSOLBWGP Plant…
  10. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 10
    MARKET ACCESS ADVANTAGE Exceptional Gas Marketing Growth to 2019 will utilize existing major infrastructure, with minimal capital required Secured firm service agreement to access larger Chicago gas market for better pricing;…
  11. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 11
    DELPHI / ALLIANCE FIRM TRANSPORTATION SERVICE 80.0 Delphi Transportation Capacity on Alliance / TCPL (mmcf/d) 70.0 Future TCPL Contract Capacity Low cost growth beyond 2018 60.0 2017 Forecast Annual Natural Gas Production Rate…
  12. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 12
    CONSISTENT AND PROVEN RISK MANAGEMENT PROGRAM NaturalGas Q1/17 Q2-Q4/17 2018 2019 Consistent Hedge Performance PercentHedged* 64% 58% 30% 21% Majority of near term production is HedgePrice(Cdn/mmbtu) 4.21 4.21 3.77 3.89 hedged…
  13. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 13
    29 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…
  14. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 14
    HIGHER CONDENSATE YIELDS BOOSTING ECONOMICS Continuing Frac Innovation DEE 13-21 DEE 16-30 Refrac 2015 Drill IP30 CGR 252 bbl/mmcf IP30 Larger fracs CGR 101 bbl/mmcf Higher pump rates ATH 2015 Wells Higher sand concentrations…
  15. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 15
    OUTSTANDING WELL PERFORMANCE 13-21 IP 270 Average Production Rate 773 boe/d IP90 (mcf/d) Condensate yield of 164 bbl/mmcf sales 527 Wells of 724 Wells Drilled Top Decile for 3-Month 16 48 20 Production Rates 5,000 88 33 30 57…
  16. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 16
    DELPHI WELL COST IMPROVEMENTS Montney Capital Efficiencies Delphi Delphi Well Well Costs Costs 12,000 Well costs 35% 600 Drilling & Completions: AverageCompleRonCost/Stage(000) 10,000 500 Average drilling & completion…
  17. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 17
    MONTNEY ECONOMIC MODEL Bigstone Montney Toe Up Two Section Horizontal DEE Type Well Hypothetical Type Wells 30+ stage Slickwater Completion Economics/Metrics - January 9, 2017 Strip Pricing(1) Type Well Rich Type Well Payout yrs…
  18. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 18
    2017 DRILLING PLANS Accelerating To The West WEST EAST Filling infrastructure 6 8 wells to be drilled in 1H 2017 Montney pay thickness Approx. 5 to 6 wells funded under a joint program increasing; Remaining wells will be funded…
  19. February 2017 Corporate 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 Substantial drilling inventory on 143 sections of land; 8 sections fully…
  20. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 20
    APPENDIX
  21. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 21
    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…
  22. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 22
    50 MILLION PARTNER TRANSACTION OVERVIEW 20 Million Joint Drilling Program Delphi will contribute 15% of the drilling and completion costs (6 million) Delphi retains while retaining a 65% working interest in the wells; operatorship of…
  23. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 23
    INDIVIDUAL MONTNEY WELL DATA February 2017 24
  24. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 24
    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…
  25. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 25
    CONSISTENT ECONOMIC RESERVE GROWTH Montney Development (2012 to Q4 2016) Montney Proved Producing Reserves (mboe) 11,626 29 wells drilled life-to-date (LTD) Economic Montney reserve 9,781 Produced 7.2 million boes in 4.5 years…
  26. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 26
    HEDGES PROTECTING CASH FLOW NaturalGas(Cdn) JanMar2017 AprDec2017 Volume(mmcf/d) 2.4 2.4 %Hedged(1) 7% 7% HedgePrice(Cdn/mcf)(2) 3.96 3.96 StripPrice(Cdn/mcf) 2.68 2.78 NaturalGas(US) JanMar2017 AprDec2017 2018 2019…
  27. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 27
    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…
  28. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 28
    LIQUIDS-RICH MONTNEY STUDY ELMWORTH TO BIGSTONE ProducingWellsbyRigReleaseDate TotalWells(withIP90):527 200 180 160 140 120 100 80 60 40 20 0 2008 2009 2010 2011 2012 2013 2014 2015 ProducingWellsbyOperator 100 80…
  29. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 29
    LIQUIDS-RICH MONTNEY STUDY PRODUCTION BY OPERATOR (GAS IPS ONLY) IP90(mcfdraw) IP180(mcfdraw) 527wells 418wells 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 26 527 15 76 21 41 56 30 31…
  30. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 30
    LIQUIDS-RICH MONTNEY STUDY EVOLUTION OF DEPTH & HORIZONTAL LENGTH AverageMeasuredDepth(m) AverageHorizontalLength(m) 6,000 DelphiAvg 3,000 5,500 DelphiAvg 2,500 61 5,000 177 101 2,000 61 61 4,500 20 42 177 101 9 61 4,000…
  31. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 31
    LIQUIDS-RICH MONTNEY STUDY EVOLUTION OF FRAC DENSITY AverageNumberofStagesperWell AverageFracSpacing(m) 200 30 DelphiAvg(29stages) 180 6 25 160 59 140 2 176 39 20 120 100 16 DelphiAvg(97m) 60 100 51 15 40 85 19 80 166…
  32. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 32
    LIQUIDS-RICH MONTNEY STUDY EVOLUTION OF FRAC DENSITY NumberofWells IP90(mcfdraw) 200 465wells 180 5,000 160 140 4,000 79 28 149 90 21 120 80 100 3,000 80 18 2,000 60 40 1,000 20 0 0 0-10 11-15 16-20 21-25 26-30 31-35…
  33. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 33
    LIQUIDS-RICH MONTNEY STUDY EVOLUTION OF PROPPANT PLACED ProppantPlaced 1.40 6,000 1.20 5,000 1.00 DelphiAvg(0.76t/m) 4,000 0.80 3,000 0.60 2,000 0.40 1,000 0.20 2 8 19 42 61 100 175 59 0.00 0 2008 2009 2010 2011 2012…
  34. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 34
    LIQUIDS-RICH MONTNEY STUDY EVOLUTION OF FLUID PUMPED FluidPumped 5.00 20,000 DelphiAvg(3.65m3/m) 18,000 4.00 16,000 14,000 3.00 12,000 10,000 2.00 8,000 6,000 1.00 4,000 2,000 2 8 19 42 61 100 175 59 0.00 0 2008 2009…
  35. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 35
    LIQUIDS-RICH MONTNEY STUDY FRAC TYPES Frac by Fluid Type Frac by Fluid Type 250 228 (mcfd raw) 200 176 5,000 150 4,000 107 100 3,000 45 2,000 50 0 1,000 0 IP-90 IP-180 IP-1YR IP-2YR IP-3YR slickwater water oil…
  36. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 36
    LIQUIDS-RICH MONTNEY STUDY DRILLING EFFICIENCY AverageDrillingDays 60 Over a 6 year period, industry improved 50 overall drilling penetration rates by almost 50%. The faster a well can be 40 drilled, the less it costs. 30 20…
  37. February 2017 Corporate Presentation – Delphi Energy Corp. – slide 37
    300, 500 4th Avenue SW Calgary, Alberta T2P 2V6 P (403) 265-6171 F (403) 265-6207 infodelphienergy.ca www.delphienergy.ca

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