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June 2017 Investor Update – Painted Pony Energy Ltd.

Painted Pony Energy Ltd. · Jun 22, 2017 · 28 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. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 1
    Celebrating 10 Years of Growth TSX: PONY Investor June 22, 2017 Update
  2. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 2
    Corporate Profile TSX Ticker Symbol PONY Daily Production (1) 215 MMcfe/day Daily Trading Volume (30 day trading average) 1.0 million shares per day (35,878 boe/d) Shares 161 million Net Debt(3) 194 million Outstanding…
  3. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 3
    Significant Growth Montney Pure Play Asset 100% BC focused Montney 300m thick pay zone with reserves booked in three layers 314 net sections (201,009 net acres) 126 gross operated wells drilled 6.9 Tcfe (1,148 MMboe) 2P…
  4. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 4
    Montney Sweet Spot Location, Location, Location PONYs Montney Sweet Spot is: a dolomitic siltstone with higher quality reservoir than a shale 4x thicker than the Marcellus at greater than 300 meters (approximately 1,000 ft.)…
  5. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 5
    Gas Processing Complex Key Infrastructure PONY Owned Total Processing Capacity Jedney (13 MMcf/d) October 2017 577 MMcf/d Owned 153 MMcf/d Third-party 424 MMcf/d PONY Owned AltaGas Blair West Blair Creek Plant AltaGas Townsend…
  6. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 6
    Production Growth Consistent Per Share Growth 6,589 8,693 13,192 15,604 23,204 48,400 84,800 Annual Average (boe/d ) boe/d boe/d boe/d boe/d boe/d boe/d boe/d 600 350 Annual Average MMcfe per Day per 1 Million Shares Annual…
  7. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 7
    Cash Flow Growth Strong Per Share Metrics 0.55 Significant Year-over-Year 1.82 2018f Growth in Cash Flow per Share 0.50 0.45 1.01 2017f 0.40 Realized Forecast 0.35 0.56 0.30 2016 0.25 0.20 0.29 2015 0.15 0.10…
  8. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 8
    Solid Margins Drive Earnings Positive Earnings Expected in 2017 and 2018 Cash Costs Non-Cash Costs Cash Costs Non-Cash Costs 3.50 Top Line Revenue 3.50 3.22 /Mcfe 1.50 Top Line Revenue 3.09 /Mcfe 3.00 Pre-Tax 0.49 1.50 3.00…
  9. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 9
    Growth-Oriented Spending Strong Capital Discipline Capital Development Program Annual Average Daily Production (Actual) 400 600 Annual Average Daily Production (Forecast) Cash Flow (Net of Interest Expense, G&A, and Capital Lease…
  10. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 10
    2017 & 2018 Development Model Infrastructure Supports Growth AltaGas AltaGas AltaGas 100,000 Townsend Townsend Townsend Facility (Phase 1A) Facility (Phase 1B) Facility (Phase 2) 90,000 150 MMcf/d 48 MMcf/d 99 MMcf/d Commitment…
  11. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 11
    The Sweet Spot Top Decile Well Performance PONY Well; Best Well in North 6-Month Cumulative Montney Gas Montney 1,800,000 Production as of January 2017 Based on 1,600,000 cumulative 35 of top 100 wells volumes, PONY has 11 of the…
  12. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 12
    Most Recent UGR Well Fantastic Well Cumulative production of Estimated 15 bbls/MMcf approximately 1.6 Bcf in of liquids flowing through first 5 months Townsend Facility Gas Rate 10 MMcf/d Pressure December January…
  13. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 13
    2017 Economics By Area May 1, 2017 Strip Pricing Townsend Blair Daiber 16 Management Type Curves 16 15 Management Type Curves 16 Management Type Curves 14 14 14 (mmcfe/d) Rate (mmcfe/d) Op Day Gas Rate (mmcef/d) Op Day…
  14. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 14
    Development Economics Price Sensitivity (Half Cycle) Townsend P50 Blair P50 Daiber P50 200% 175% Liquids-enhanced, Blair wells provide 150% exposure to stronger Condensate, NGL and Rate of Return (BT) Stronger liquids…
  15. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 15
    Pro Forma Reserves PONY + UGR PONY Pro Forma 1P Reserves PDP PONY Stand Alone 3.4 Tcfe Reserves 0.6 Tcfe 1P Reserves 2.7 Tcfe PUD + Probable PDNP Reserves PDP PUD + PDNP Reserves Reserves 0.5 Tcfe Reserves of 3.5 Tcfe 2.8…
  16. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 16
    Reserve Additions At Very Low FD&A Costs Finding, Development & Acquisition Costs 3.00 Industry 2.77 2.76 leading 1P + 2P FD&A 2.50 costs FD&A Costs (incl change in FDC) per Mcfe 2.26 1.95 2.00 1.60 4-Year 2P 1.50…
  17. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 17
    Canadian Natural Gas 2P Reserves As at Dec 31, 2016 Proved Natural Gas Reserves PONYs 2P Natural Gas Probable Natural Gas Reserves reserves of 6.4 Tcf 10.0 positions PPY with the third-largest 2P natural gas reserves in Canada…
  18. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 18
    Increasing Cash Flow per Mcfe Driving Costs Lower / Increasing Liquids Yields G&A Costs per Mcfe Operating Costs per Mcfe ** Liquids Production Operating Cost ( / Mcfe) 0.35 75% 1.00 45% 6,000 G&A Cost ( / Mcfe) Liquids…
  19. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 19
    Financial Hedges Prudent Risk Management 550 AECO Fixed Price Hedges (/Mcf) Station 2 Fixed Price Hedges (/Mcf) Expected Average Natural Gas Production (MMcf/d) 500 AECO Call Option (/Mcf) 450 Unhedged Financial hedges,…
  20. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 20
    2017 Pricing Managing Volatility 91% of 2017 Production Volumes Priced Outside Station 2 Spot 93% of 2017 Production Revenue Sourced Outside Total 2017 Production Station 2 Spot Revenue by Source Fixed Price Contracts…
  21. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 21
    Firm Transportation Long-Term Strategy T-North to Station 2 / Sunset Creek PONY LANDS PPY LANDS COMPRESSOR STATION 200 MMcf/d Current PROCESSING FACILITY PROPOSED METER STATION 105 MMcf/d at Closing of UGR Acquisition ROYALTY LINE…
  22. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 22
    Forecasted Capital Expenditures 2017 2017 Pro-Forma Capital Spending Forecast Period Capital Drilling Completions Q1 96 million 18 wells 11 completions Q2 43 million (e) 8 wells (e) 8 completions (e) Q3 124 million (e) 30…
  23. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 23
    Pony Points Checking Off All of the Boxes Financing In-Place Top Well Performance Low Well Costs Firm Transportation Massive Reserves Base 22
  24. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 24
    Appendices and Advisories
  25. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 25
    Proposed West Coast LNG Projects Proposed LNG Projects Capacity Exxon Imperial 4.0 Bcf/d WCC LNG Shell Petrochina, Mitsubishi, KOGAS 3.2 Bcf/d LNG Canada Nexen / CNOOC Inpex, JGC 3.1 Bcf/d Aurora Liquefied Natural Gas Ltd.…
  26. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 26
    2016 Reserve Highlights (Stand Alone) Deep Value At December 31, 2016(1): 2P Reserves 4.9 Tcfe 2.6 times 1P Recycle Ratio (FD&A) Increase in 2P Reserves from December 31, 2015 (1) 7% 2.0 times PDP Recycle Ratio (FD&A) 1P Reserves…
  27. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 27
    UGR Blair Creek Acquisition Overview Transaction Summary: On March 15th, 2017 PONY announced the acquisition of UGR for 277 million (41 million PONY shares and assumption of 47 million of net debt(1)) UGR is a pure play NEBC Montney…
  28. June 2017 Investor Update – Painted Pony Energy Ltd. – slide 28
    Corporate Overview Auditor KPMG LLP Evaluation Engineers GLJ Petroleum Consultants Ltd. Banks The Toronto-Dominion Bank The Bank of Nova Scotia Alberta Treasury Branches Canadian Imperial Bank of Commerce HSBC Bank Canada Wells…

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