June 2017 Investor Presentation – Tamarack Valley Energy Ltd.

Tamarack Valley Energy Ltd. · Jun 8, 2017 · 22 slides

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Slides

Poised for Predictable & Sustainable Per Share Growth JUNE 2017 TVE : TSX www.tamarackvalley.ca 1
Tamarack Valley Strategy & Guiding Principles Strategy: Principles: Growth company with a long term focus Full cycle rate of return focused Multi-play strategy ensures risk Internal processes and skills to management through diversity…
Record First Quarter with Viking Integrated Q1 Best Quarter of Delivery Yet: Second Quarter: Integrated operations and increased Veteran battery expansion production to 20,000 boe/d (April avg.) 1,300 to 5,000 bopd capacity Attained…
Historical Capital Efficiency 350 Total CAPEX 289 300 % of D,C&E 250 CAPEX (millions) 200 165 150 141 107 88% 100 43% 58 50 72% 31% 37% 0 2013 2014 2015 2016 2017 Corporate Capital Efficiency* (000s/boepd) 2013…
First Quarter Update at 20,000 boe/d April 2017 Production* BOE/D % Liquids Cardium oil 8,570 54% ALBERTA Viking oil 8,220 63% Penny 1,280 71% SASKATCHEWAN Other 1,930 37% VIKING OIL Total 20,000 58% * Based on field estimates…
Tamarack Corporate Snapshot TVE : TSX Operational 2017 Guidance First Half 2017 Guidance Average production (boe/d) 19,000 20,000 Average production (boe/d) 18,000 18,500 % Liquids average production 55 60 % Liquids average production…
Sustainability and 2018 Growth Sensitivities Maintenance Scenario Growth Scenario Oil (USWTI) 40.00 50.00 50.00 50.00 FX (Cdn/US) 0.74 0.74 0.74 0.74 Oil (CdnWTI) 54.88 62.77 62.77 62.77 AECO (Cdn/GJ) 2.75 2.75 2.75 2.75 Funds flow…
Current Hedges as at May 31, 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…
Wilson Creek / Alder Flats Cardium Closed PWT 8,000 acquisition 7,000 Closed Suncor acquisition 6,000 Production (boe/d) 5,000 4,000 3,000 2,000 1,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2014 2015 2016 2017 2014…
Veteran / Milton Viking Oil 7,000 6,000 Closed Spur 5,000 Production (boe/d) 4,000 3,000 Redwater Viking 2,000 1,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2014 2015 2016 2017 Drill 44 ERH Viking oil wells in Milton…
2017 Veteran Drilling Update 2017 Horizontal Wells Q1/17 drills 120 H2/17 drills Average 100 Original TC Risked 90% 80 bbl/d 60 40 Cum prodn 90 days = 5,000 20 bbls of oil 0 1 21 41 61 81 101 Days on Production…
Viking Inventory Expansion A Great Start Number Locations (Gross) Total Lateral Length (km) 700 52 666 700 647 (35) 48 639 (16) 93 94 (75) 600 600 +9% +35% 506 (34) 500 (12) 37 500 400 400 300 300 200 200 100 100 72…
Other Core Areas Wilson Creek Mannville Liquids Rich Gas Hatton Heavy Oil 600 800 700 500 Production (boe/d) 600 Production (boe/d) 400 500 300 400 300 200 200 100 100 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1…
Summary Lever Off Strengths - Historical Operational Execution: Delivered better than guided results on three major asset acquisitions over the past 3 years (Wilson Creek Cardium and Redwater Viking, Penny) On our way to delivering…
Appendix 16
2017 Milton Drilling Update Average Q1/17 drills 2017 Horizontal Wells Existing Type Curve H2/17 drills 200 TC Risked 85% 180 Well Count 160 140 120 BOE/d 100 80 60 40 20 0 1 21 41 61 81 Days on Production Pre 2017…
Wilson Creek 2016-17 2-mile Cardium Drills 6 Wells 1000 Average 100/12-03-045-06W5/00 (115 Stages) 900 100/13-03-0450-6W5/00 (85 Stages) 800 700 600 bbl/d 500 Year 1 Average Cum Oil 50,000 bbls 60 day Cum Oil…
Un-risked Half Cycle Economics Q1/17 Half Cycle Economics N. Hoosier/ Veteran Wilson Creek Wilson Creek Penny Alder Flats Mannville Gas Milton Viking 1.5 mile Cardium 2.0 mile Cardium Barons Higher GOR Cardium Wilson Creek / Alder…
Tamarack Quick Payback Drilling Inventory…
Building Per Share Growth While De-levering Achieving Leverage-Neutral Production Per Share Growth 25,000 108.0 23,000 Leverage neutral prodn per shareCompleted growth of 10% 2014 Majors began exiting WCSB Production per share…
Financial Stats per BOE 2016 Actuals 2017 Budget 2017 Outlook Q1 2017 Actuals Average pricing 43.32/bbl WTI 55.00/bbl WTI 50.50/bbl WTI Edm Par 51.69/bbl 64.47/bbl 63.25/bbl 64.69/bbl AECO (monthly index) 2.00/GJ 2.65/GJ 2.70/GJ…
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…

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