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January 2017 Investor Presentation – Cardinal Energy Ltd.

Cardinal Energy Ltd. · Jan 31, 2017 · 20 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. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 1
    BUILT TO LAST January 2017
  2. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 2
    Built to Last Low Debt Low Decline Strong Capital Efficiencies 2
  3. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 3
    Operating the Business Amount of capital required to keep Committed Capital production flat year over year Cash flow from Target 30 35% simple Dividend Payments Operations payout ratio Balance increased Free Cash Flow decline…
  4. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 4
    Cardinal Energy Profile Shares Outstanding(1) TSX: CJ Basic 74,151,719 Fully Diluted 77,752,968 Annual Dividend (/share) 0.42 2016 average production (boe/d) 14,600 2017 forecast average production (boe/d) 17,000 % Oil and NGLs (2016…
  5. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 5
    Convertible Debentures TSX: CJ.DB Issue Size: 50,000,0001 Face Value: 100 Issued: October 6, 2015 Term: 5 Years Conversion Price: 10.50 Coupon Rate: 5.5% 1. Can be Redeemed in Whole or in Part after Year 3. 5
  6. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 6
    Dividend Commitment Dividend Commitment 120,000,000 140% 100,000,000 120% 100% 80,000,000 80% 60,000,000 60% 40,000,000 40% 20,000,000 20% 0% Q1/2014 Q2/2014 Q3/2014 Q4/2014 Q1/2015 Q2/2015 Q3/2015 Q4/2015 Q1/2016…
  7. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 7
    Cardinal Asset Base Solid Base of Oil Production from 3 Core Areas: 2017 Guidance NORTH Appr. 5,300 5,400 boe/d production CENTRAL Appr. 5,600 5,700 boe/d production SOUTH Appr. 5,900 6,200 boe/d production All areas have…
  8. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 8
    North Comprises of the Mitsue Gilwood unit and approximately 1,200 Boe/d of non operated 5,300 5,400 boe/d (primarily 75% working interest) production Production from the North area is expected to be approximately 5,300 5,400…
  9. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 9
    Mitsue Gilwood Units Discovery in 1964 Developed with vertical drilling from 1964-1988 Pool underwent miscible flood then converted to water flood. Voidage replacement maintained at 1:1 2017 Development Plan 1. Reduce operating…
  10. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 10
    Central Dominant land position with over 55 sections of land Oil production under waterflood with less than 10% decline 98% operated, average 95% working interest Multiyear drilling inventory in excess of 40 unbooked locations…
  11. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 11
    Waseca Drilling Drill Economics* Capex 1.2 M Payout 1.3 yrs Capital Efficiency 21,000 F&D 10.00 EUR 119 mbbl IP365 57 boe/d * Based on Sproule YE 2016 prices 11
  12. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 12
    South The majority of base production is currently under waterflood with less than a 12% decline 97% operated, average 94% working interest oil production Control key infrastructure resulting in cycle drilling program Excellent…
  13. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 13
    Bantry Type Curve Drill Economics* Capex 1.8 M Payout 1.0 yrs Capital Efficiency 11,000 F&D 12.00 EUR 150 mbbl IP365 163 boe/d * Based on Sproule YE 2016 prices and Cardinal 2106 drill results. 13
  14. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 14
    Reserve Comparison 3,300 boed 4,825 boed 4,825 boed(1) 1,525 boed (1) 1,525 boed Proved Developed Producing Proved Undeveloped Probable 1,085/boed(1) 1,525 boed(1) 1,525 boed(1) 1. Source: Scotiabank 14
  15. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 15
    Hedging Hedging 1. Natural gas - 4,996 gj/d swapped at 2.43 for 2017 and 3,333 gj/d swapped at 2.62 for 2018. 2. 4,414 bbl/d swapped for 2017 fixing WCS differential at CAD 18.53. 15
  16. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 16
    2017 Guidance Operational 2017e(1) 2016e(2) 2015 Average Oil Price 55 WTI 44 WTI 49 WTI Average production (boe/d) 16,800 17,300 14,600 11,838 Development capital (MM)(1) 58 35 37 Wells Drilled 18 9 8 Financial Cash flow from…
  17. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 17
    Sensitivity Free Cash Flow 2017 (WTI) 2017 Budget 50 55 60 Development Capital Exependitures (MM) 58 58 58 58 Dividend (MM) 31 31 31 31 Free Cash Flow (MM) 27 9 27 41 *Excludes hedges. 17
  18. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 18
    Operating Costs 18
  19. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 19
    Corporate Information Corporate Headquarters Cardinal Energy Ltd. 600, 400 3rd Avenue S.W. Calgary, AB T2P 4H2 Bankers ATB Financial CIBC World Markets Inc. RBC Dominion Securities Inc. Scotia Capital Inc. National Bank of Canada…
  20. January 2017 Investor Presentation – Cardinal Energy Ltd. – slide 20
    Analyst Coverage Firm Analyst Phone Email BMO Nesbitt Burns Ray Kwan 403-515-1500 Ray.kwanbmo.com CIBC Adam Gill 403-216-3405 adam.gillcibc.com Canaccord Genuity Corp. Sam Roach 403-691-7809 sroachcanaccordgenuity.com Clarus…

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