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August 2017 Investor Presentation – Delphi Energy Corp.

Delphi Energy Corp. · Aug 11, 2017 · 22 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. August 2017 Investor Presentation – Delphi Energy Corp. – slide 1
    August 2017 ACCELERATING HIGH-MARGIN, LIQUIDS-RICH PRODUCTION IN THE WORLD-CLASS MONTNEY BIGSTONE REGION
  2. August 2017 Investor Presentation – Delphi Energy Corp. – slide 2
    ACCELERATING HIGH MARGIN GROWTH FOCUS ON CORE ASSETS 2015 2016 2017 and Beyond Divested 62.0 million Improved operating margins with 35 million equity and 30 million term of non-core assets higher condensate yields and debt…
  3. August 2017 Investor Presentation – Delphi Energy Corp. – slide 3
    DELPHI IS NOW. Pure Play Montney E&P Company with WORLD CLASS ASSETS AND A TRACK RECORD OF SUCCESS With a premium land position in the world-class Montney Bigstone region...high and increasing well condensate rates...robust well…
  4. August 2017 Investor Presentation – Delphi Energy Corp. – slide 4
    CORPORATE SNAPSHOT CORPORATE INFORMATION 2017 Full Year 2016 Full Year Variance Guidance Results Ticker Symbol TSX:DEE Natural Gas (mmcf/d) 32.0 35.0 28.0 18% Basic Shares Outstanding (mm) 185.4 Field Condensate (bbls/d) 2,100…
  5. August 2017 Investor Presentation – Delphi Energy Corp. – slide 5
    BIGSTONE SOUTHERN END OF PROLIFIC LIQUIDS RICH MONTNEY TREND Bigstone economics rank high on the trend Consistent top tier well results IRR Grande Prairie Bigstone Montney Edmonton Elmworth Calgary Wapiti Karr Delphi…
  6. August 2017 Investor Presentation – Delphi Energy Corp. – slide 6
    SIGNIFICANT INVENTORY ON DOMINANT LAND POSITION Current Montney land position grown from 4.0 to 165.5 gross (109.6 net) sections WEST EAST since 2010 Significant land position allows for efficient operations, control over…
  7. August 2017 Investor Presentation – Delphi Energy Corp. – slide 7
    GROWING THE DOMINANT LAND POSITION Largest Land Position at Bigstone Continue to identify and pursue additional consolidation opportunities EAST BIGSTONE Added 22.5 sections (100% W.I.) of Montney Rights growing land base to 165.5…
  8. August 2017 Investor Presentation – Delphi Energy Corp. – slide 8
    STRATEGIC INFRASTRUCTURE SUPPORTS LOW COST GROWTH 3 Year PDP FD&A of 11.26 per boe Minimal infrastructure capital required for growth plans to 25,000 boe/d (net to DEE); Legacy sour processing capacity available at SemCAMS K3 and…
  9. August 2017 Investor Presentation – Delphi Energy Corp. – slide 9
    SECURE MARKET ACCESS ENHANCES REALIZED PRICING Marketing arrangements in place for planned future growth Secured firm service agreement to access larger Chicago gas market for better pricing; Pricing has been significantly better…
  10. August 2017 Investor Presentation – Delphi Energy Corp. – slide 10
    DELPHI / ALLIANCE FIRM TRANSPORTATION SERVICE 90.0 Delphi Transportation Capacity on Alliance / TCPL (mmcf/d) 80.0 Future TCPL Contract Capacity 70.0 Low cost growth beyond 2018 60.0 2017 Forecast Annual Natural 50.0 Gas…
  11. August 2017 Investor Presentation – Delphi Energy Corp. – slide 11
    PROVEN RISK MANAGEMENT PROGRAM Natural Gas Q2 - Q4/17 2018 2019 Consistent Hedge Performance Percent Hedged* 65% 54% 21% Majority of near term production is Hedge Price (Cdn /mmbtu) 4.20 3.92 3.89 hedged Crude Oil Q2 - Q4/17 2018…
  12. August 2017 Investor Presentation – Delphi Energy Corp. – slide 12
    ORGANIC GROWTH THROUGH AN ACTIVE DRILLING PROGRAM Largest drilling program yet WEST EAST 38 wells drilled and on production (100% success) 5 new wells completed Two rigs active 8 to 10 wells planned for 2H 2017 Total of 20-25 new…
  13. August 2017 Investor Presentation – Delphi Energy Corp. – slide 13
    FRAC INNOVATIONS DRIVING PRODUCTION RATES 15-21 Section 21-60-23W5 Montney Production 2nd Gen Frac 2013 0.7 t/hz m 10,000 Gas Rate (mcf/d) and Field Condensate Rate (bbl/d) 1,000 100 16-09 0 20 40 60 80 100 120 140 160…
  14. August 2017 Investor Presentation – Delphi Energy Corp. – slide 14
    RECENT WELL RESULTS YIELD EVEN GREATER MARGIN AND RIVAL AVERAGE CONDENSATE RATIOS OF PEERS Rates and Yields Stabilizing Faster with Comparable Average Field Condensate Frac Innovation Production Rates 1,000 1,000 Delphi…
  15. August 2017 Investor Presentation – Delphi Energy Corp. – slide 15
    DELPHI WELL COST IMPROVEMENTS Montney Capital Efficiencies Delphi Delphi Well Well Costs Costs 12,000 Well costs 33% 600 Drilling & Completions: Average Completion Cost/Stage (000) 10,000 500 Average drilling & completion…
  16. August 2017 Investor Presentation – Delphi Energy Corp. – slide 16
    ACHIEVING 2017 GROWTH TARGETS Montney Production (boe/d) Corporate Growth Comparison 12,000 July corporate production up July Variance to Q4 2016 10,000 37% over Q4/16 (field estimate) Q4 2016 8,000 Natural Gas (mmcf/d) 28 35.0…
  17. August 2017 Investor Presentation – Delphi Energy Corp. – slide 17
    CONSISTENT ECONOMIC RESERVE GROWTH Montney Development (2012 to Q2 2017) Montney Proved Producing Reserves (mboe) 40 wells drilled life-to-date (LTD) 11,626 11,405 Produced 8.5 million boes in 4.5 years 9,781 Generated 196 million…
  18. August 2017 Investor Presentation – Delphi Energy Corp. – slide 18
    2017 AND BEYOND MAINTAINING KEY VALUES World Class Montney Asset Continued new well innovation resulting in increasing condensate yields and impressive operating margin growth Strong condensate rich well performance yielding top…
  19. August 2017 Investor Presentation – Delphi Energy Corp. – slide 19
    APPENDIX August 2017 21
  20. August 2017 Investor Presentation – Delphi Energy Corp. – slide 20
    INDIVIDUAL MONTNEY WELL DATA Initial Production (IP) Rate Well Performance (1) Well(2) Frac Design Horizontal Number IP30 IP90 IP180 IP365 Generation Length of Fracs Total Sales Field Condy Total Sales Field Condy Total Sales Field…
  21. August 2017 Investor Presentation – Delphi Energy Corp. – slide 21
    MONTNEY ECONOMIC MODEL Bigstone Montney Toe Up Two Section Horizontal DEE Type Well Hypothetical Type Wells 30+ stage Slickwater Completion Economics/Metrics - January 9, 2017 Strip Pricing(1) Type Well Rich Type Well Payout yrs…
  22. August 2017 Investor Presentation – Delphi Energy Corp. – slide 22
    HEDGES PROTECTING CASH FLOW Natural Gas (Cdn) July Dec 2017 Volume (mmcf/d) 2.4 % Hedged (1) 7% Hedge Price (Cdn /mcf) (2) 3.96 Strip Price (Cdn /mcf) 2.25 Natural Gas (US) July Dec 2017 2018 2019 Volume (mmbtu/d) 19.5 18.0 7.0…

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