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May 2017 Investor Presentation – Bonterra Energy Corp

Bonterra Energy Corp · May 31, 2017 · 21 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. May 2017 Investor Presentation – Bonterra Energy Corp – slide 1
    BONTERRA ENERGY CORP. AGM EFFICIENT SUSTAINABLE DISCIPLINED
  2. May 2017 Investor Presentation – Bonterra Energy Corp – slide 2
    CURRENT SNAPSHOT Common shares 33.3 mm outstanding Insider ownership 12% Current monthly dividend 0.10 per share Current annualized yield(1) 6.7% Oil and liquids weighting 71% Oil & Liquids Reserve life index (2P) 20 years…
  3. May 2017 Investor Presentation – Bonterra Energy Corp – slide 3
    CRUDE OIL MARKET IEA suggests that in 1Q17 the oil market was almost balanced (0.1 mmb/d build) IEA 2017 oil demand growth forecasted to be 1.3 mmb/d Assuming OPEC status quo, IEA forecasts 2H-17 Demand Supply by over 1.0 mmb/d…
  4. May 2017 Investor Presentation – Bonterra Energy Corp – slide 4
    SUSTAINABILITY Run Rate Production Assumption = 13,500 boepd WTI (USD) /bbl 45.00 50.00 55.00 60.00 65.00 70.00 Differential (USD) /bbl (3.00) (3.00) (3.50) (3.50) (4.00) (4.00) Foreign Exchange USD/CAD 0.74 0.74 0.74 0.74 0.74 0.74…
  5. May 2017 Investor Presentation – Bonterra Energy Corp – slide 5
    FREE FUNDS FLOW FREE FUNDS FLOW ALLOCATION OPTIONS 2017 Guidance Free Funds Flow Allocation (91M) 1. Dividend 2. Debt Reduction Growth 14M Debt 3. Increase Capex Reduction 37M Dividend 4. Buy-Back Shares 40M 5.…
  6. May 2017 Investor Presentation – Bonterra Energy Corp – slide 6
    DIVIDEND HISTORY 160.00 Dividend EDM Light 140.00 0.30 120.00 Edmonton Light (/bbl) 100.00 0.20 Dividend (/month) 80.00 60.00 0.10 40.00 Cumulative Dividends Paid Per Share (1998 2017) : 41.28 20.00 -…
  7. May 2017 Investor Presentation – Bonterra Energy Corp – slide 7
    SHAREHOLDER VALUE Production per Share Production Profile (boe per share) 30% Natural Gas 0.109 0.119 0.124 0.147 0.150 0.140 0.140 70% Oil/NGLs 13,195 12,656 12,650 12,190 2010 2011 2012 2013 2014 2015 2016…
  8. May 2017 Investor Presentation – Bonterra Energy Corp – slide 8
    SHAREHOLDER VALUE Reserves per Share Reserves Profile (boe per share) (Proved plus Probable) (Proved plus Probable) 29% Natural Gas 2.09 2.13 2.28 2.47 2.50 2.78 2.85 71% Oil/NGLs 94,905 90,621 80,248 2010 2011…
  9. May 2017 Investor Presentation – Bonterra Energy Corp – slide 9
    PRODUCTION FORECAST Vertical Base Horizontal Base 2017 Capital Program 16,000 14,000 12,000 10,000 BOE/d 8,000 20% Corporate Base Decline Rate 6,000 4,000 2,000 0 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17…
  10. May 2017 Investor Presentation – Bonterra Energy Corp – slide 10
    PEMBINA CARDIUM OVERVIEW Majority of Bonterra land covers areas with large original-oil-in-place, offering significant potential to increase recovery factors resulting in sizable increases in reserves and production. ORIGINAL OIL IN…
  11. May 2017 Investor Presentation – Bonterra Energy Corp – slide 11
    CONCENTRATED ASSET BASE CARDIUM LANDS Average working interest 76% Cynthia Bonterra operates 88.5% of its total West Keystone production Pembina Reserve life index (P+P) 20 years Carnwood Blue Rapids Rose Creek Reserves…
  12. May 2017 Investor Presentation – Bonterra Energy Corp – slide 12
    AVERAGE BNE CARDIUM ECONOMICS BNE TYPE CURVE PREDICTABLE AND REPEATABLE 300.00 250.00 Reserves per well (MBOE) 165 200.00 IP (1 month) (boe/d) 255 BOE/D 150.00 IP (12 months) (boe/d) 125 100.00 50.00 - 1 2 3 4 5 6 7 8 9…
  13. May 2017 Investor Presentation – Bonterra Energy Corp – slide 13
    CARDIUM LOCATIONS SIGNIFICANT CARDIUM INVENTORY Total Inventory * Booked Locations 2017 Program Area Name Avg WI% Gross Net Gross Net Gross Net ROSE CREEK 97.20% 242 235 32 30 4 4 KEYSTONE 94.80% 175 166 94 91 0 0 CARNWOOD 88.80%…
  14. May 2017 Investor Presentation – Bonterra Energy Corp – slide 14
    DRILLING & COMPLETION INNOVATION Total Drill & Complete Cost Per Well 1 mile horizontal 3,000 2,500 D&C COST MM 2,000 Forecast 1,500 1,000 500 0 2012 2013 2014 2015 2016 2017 Drill Complete MONOBORE DESIGN…
  15. May 2017 Investor Presentation – Bonterra Energy Corp – slide 15
    HIGH QUALITY RESERVE BASE Grand Total Reserves 95 Million boe 10% NPV Total 1.36 billion Probable Probable 22% Proved 23% Developed Proved Producing Developed Proved Producing 43% Undeveloped 54% Proved Undeveloped 23% 35%…
  16. May 2017 Investor Presentation – Bonterra Energy Corp – slide 16
    LOW-COST RESERVE ADDITIONS IMPROVING CAPITAL EFFICIENCIES FD&A Costs per BOE, Incl. FDC 1P FD&A 2P FD&A 25.00 22.67 Year over Year, Bonterra is more efficient at replacing its reserve base 20.00 18.90 42% reduction in 1P FD&A…
  17. May 2017 Investor Presentation – Bonterra Energy Corp – slide 17
    COMMITMENT TO COST CONTROL DECLINING ALL-IN COSTS PER BOE 30.00 All-In costs less than 20.00 per boe 27.01 25.24 25.21 25.00 30% reduction in All-In costs from 2012 to 2016 19.00 18.98 20.00 30% reduction in Operating Costs…
  18. May 2017 Investor Presentation – Bonterra Energy Corp – slide 18
    CARNWOOD AREA Drilled Potential Drilling locations Sections: 41 gross (37 net); Locations (6 to 8 wells per section): 206 gross (190 net) 18
  19. May 2017 Investor Presentation – Bonterra Energy Corp – slide 19
    PEMBINA CARDIUM DEVELOPMENT R6W5 CONVENTIONAL VERTICAL DEVELOPMENT Estimated ultimate oil recovery: 196,000 Bbl Recovery factor: 4% HORIZONTAL DEVELOPMENT: PRIMARY DEPLETION Estimated horizontal ultimate oil recovery: 264,000…
  20. May 2017 Investor Presentation – Bonterra Energy Corp – slide 20
    PEMBINA CARDIUM DEVELOPMENT HORIZONTAL WATERFLOOD PILOT Primary vs. Waterflood Horizontal Production Horizontal Primary Horizontal Waterflood 1000 Start of injection 100 Based on production and numerical reservoir…
  21. May 2017 Investor Presentation – Bonterra Energy Corp – slide 21
    FOCUS ON FUNDAMENTALS SUSTAINABLE YIELD Low Corporate Decline 20% Corporate Base Decline Rate All-in costs (royalties, operating costs, G&A, and interest Low Cost Producer expense) of less than 20 per boe (US15 per boe)…

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