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March 2017 Corporate Presentation – Penn West Petroleum Ltd.

Penn West Petroleum Ltd. · Apr 20, 2017 · 18 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. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 1
    Corporate Presentation March 2017
  2. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 2
    Penn West Corporate Profile TSX: PWT NYSE: PWE Share Price /share 2.06 *Mar 13, 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…
  3. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 3
    Why Invest in Penn West Organic Production Balanced Portfolio Growth Liquids-weighted assets with a mix of short-cycle and mid- Self-funded double digit cycle opportunities production growth with a low-decline advantage…
  4. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 4
    Balanced Portfolio Liquids-Focused Growth Company 2017 plan for self-funded double-digit production growth Index Map 2017 hedged 50% of oil at US50 WTI and 25% of gas at C2.90 AECO Peace 90 kms Manufacture Cold Flow River 56…
  5. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 5
    Balanced Portfolio 2017 Corporate Themes Activity Details Spending (MM) Injectors Producers Build Cardium Cardium Waterflood Cardium Waterflood 55 45 10 Platform 97 Waterflood Platform Platform Strat Producers Manufacture…
  6. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 6
    Organic Production Growth Double Digit Growth Plan Self funded growth at industry leading cost structure Sold and Held Double Digit Q4 2017 31,500 33,000 boe/d For Sale Q4 to Q4 Growth 9,826 boe/d Q4 2016 28,655 boe/d…
  7. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 7
    Organic Production Growth Cardium Area Building a 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…
  8. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 8
    Organic Production Growth Willesden Green Waterflood Program 2017 Budget will focus on Integrated Illustrative 2017 Willesden Green Integrated Waterflood Development in Willesden Waterflood Program with Vertical Injectors Green…
  9. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 9
    Organic Production Growth Manufacture Peace River Cold Flow 2017 Peace River Area Historical Drill World class cold flow heavy oil play 150 Costs (/meter) identified locations Days to Drill 24 well development program in 2017 9,000…
  10. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 10
    Organic Production Growth Leverage Infrastructure with Viking Prospects AB Viking Industry Horizontal Wells Low risk, profitable acreage 1-mile Equivalent (boe/d) leveraging top tier infrastructure 200 Shorter term payout to balance…
  11. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 11
    Organic Production Growth Pursue New Ventures 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…
  12. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 12
    Solid Balance Sheet Major 2016 Restructuring Now Complete In 2016, closed dispositions for 1.4 billion Discounted Asset Retirement Obligations (MM) On track to finish disposition program by end 397 (215) of Q117, with 65 million of…
  13. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 13
    Solid Balance Sheet 2016 Year-end Reserves Highlights Foothold Cardium Reserves book started to recognize the success of new Cardium waterflood Waterflood Reserves development with 2.1 mmboe of probable undeveloped waterflood…
  14. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 14
    Leading Cost Structure Strong Cardium Capital Efficiencies Cost savings over the past year realized primarily through process improvements Pembina wells drilled monobore; costs are best in class Willesden Green wells require more…
  15. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 15
    Leading Cost Structure Low 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%…
  16. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 16
    Leading Cost Structure Strong Hedge Position Corporate forecasting and hedging program extends six quarters Allows for planning and line of sight past each Spring breakup cycle Increases confidence for self-funded growth down to WTI…
  17. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 17
    Leading Cost Structure Improved Margins with a Focused Portfolio 20 - 22 5.38 17.88 Cash Margins (C/boe) 15.92 6.39 29% opex savings vs 2015 Significantly lower 2.97 realized commodity prices 2015 Net Sales…
  18. March 2017 Corporate Presentation – Penn West Petroleum Ltd. – slide 18
    Leading Cost Structure 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 26.00 24.75 23.50 17.50 22.25 19.00…

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