Transformational Acquisition Increases Growth Profile East Coast Energy Symposium March 9-10, 2017 TVE : TSX www.tamarackvalley.ca 1
2017 Budget Principles Top priorities: First achieve production and cash flow per share growth in 2017 Second execute development of new Viking oil assets targeting reserve, netback and drilling inventory growth Third set up for…
Tamarack Corporate Snapshot TVE : TSX Operational 2017 Guidance Average Price Assumptions 2017 Guidance Average production (boe/d) 19,000 20,000 WTI (/bbl) 55.00 % Liquids average production 55 - 60 Edmonton Par (/bbl) 66.45 Exit Q4…
Reserves Summary by FD Shares P+P Reserves (mmboe) Proved Developed Producing Reserves (BOE) 56.5 25.0 45.00 Natural Gas Gas Boe NGLs NGL & Oil Boe 40.00 Oil 39.80 FD&A 20.5 45.0 20.0 22.4 35.00 34.42 PDP Reserves (MMBOE)…
2016 Acquisition Lookback- Significant Value Added AQN Cost vs Current Reserves Evaluation Production Performance 175 247 3,000 P+P Actual Forecast 150 2,500 125 53 100 Proved Production (boe/d) 2,000 75 110 million…
Significant Cardium and Viking Light Oil Production Q4 2016 est. Production* BOE/D % Liquids ALBERTA Cardium* 7,380 53% Redwater Viking* 1,150 92% SASKATCHEWAN Penny* 1,160 69% Other* 1,763 23% Total TVE 11,453 55% Redwater Spur…
Viking Oil Infrastructure 451 net sections of consolidated Viking Strategic owned and operated infrastructure Production estimated at close of 6,250 boe/d (52% liquids) Low operating costs < 11/boe 720 (695 net) locations…
Un-risked Half Cycle Economics Half Cycle Economics Veteran/Consort N. Hoosier/ Milton Wilson Creek Penny Alder Flats Viking Viking Cardium Barons Higher GOR Cardium Number of net locations 440 179 62 32 46 1.5 year payout or…
Tamarack Quick Payback Drilling Inventory…
Wilson Creek / Alder Flats Cardium TVE Sun Creek GP Keyera Minnehik Buck Lake Current: TVE 9-24 Q4/16 prodn 7,068 boe/d Compressor (51% liquids) (including Alder Flats Mannville & Pekisko gas prodn) TVE Wilson Creek Battery 310…
2017 Growth Potential Maintaining 1.0 times D/CF Pre-acquisition At 55 WTI: CFPS growth over 50% 24,000 Pro forma acquisition on 200-220 million CAPEX exiting over 24,000 boe/d Assumes: 22,000 - 2.65/GJ AECO - 0.76 Cdn dollar…
Current Hedges as at February 23, 2017 Term Hedge Type Volume Cdn Pricing January 1, 2017 to March 31, 2017 WTI fixed price 3,000 bbls/d Cdn 63.12/bbl April 1, 2017 to June 30, 2017 WTI fixed price 3,000 bbls/d Cdn 63.88/bbl 2017…
Key 6 Month Objectives and Look-back What we did in Objectives for What we said we would do Q3 2016 / Q4 2016 H1 2017 Produced over 11,100 boe/d in H2/16, capital in- Average 18,500 19,000 boe/d H1/17 on 75 H2/16 prodn average…
Summary Prudent Management through Commodity Downturn Stopped spending at the right time, cut opex, capex and G&A to improve sustainability Paid down debt in 2015 and 2016 yet delivered modest growth using high quality drilling with…
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