Skip to main content The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. Investor Presentation | Shale Experts
Loading...
Pm

The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd.

Bellatrix Exploration Ltd. · Aug 14, 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. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 1
    POSITIONED FOR SUSTAINABLE LONG TERM VALUE CREATION EnerCom Presentation August 14, 2017
  2. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 2
    Corporate Profile MARKET SUMMARY Ticker Symbol TSX / NYSE: BXE Average Daily Volume1 Canada: 165,000/ U.S.: 100,000 Shares Outstanding2 49.4 million basic / 51.2 million diluted Market Capitalization3 162 million Bank Debt4 13…
  3. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 3
    Investment Highlights HIGH QUALITY Dominant core acreage position in west central Alberta Spirit River represents one of North Americas lowest supply cost natural gas plays ASSETS & Consistently deliver top ranked well productivity…
  4. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 4
    Reintroducing Bellatrix NEW LEADERSHIP Brent Eshleman appointed President, CEO and a member of the Board of Directors on February 15, 2017 Max Lof appointed Executive Vice President & CFO on June 19, 2017 TRANSFORMATIONAL CHANGES…
  5. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 5
    Maintain Production Volumes While Achieving Significant Debt Reduction Production (boe/d) 40,000 Average 30,000 Production 20,000 Flat Q1/16 10,000 to Q2/17 0 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 800 700 600 Total Debt…
  6. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 6
    2017 Outlook & Guidance INITIAL PREVIOUSLY SET REVISED 2017 ANNUAL 2017 ANNUAL 2017 ANNUAL CHANGE GUIDANCE GUIDANCE GUIDANCE FROM INITIAL (JANUARY 5, 2017) (JUNE 26, 2017) (AUGUST 10, 2017) Production (boe/d) 2017 Average daily…
  7. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 7
    Commodity Price & Currency Risk Management STRONG FIXED PRICE NATURAL GAS RISK MANAGEMENT PROTECTION 80% 3.19 70% % of total forecast 2017 gas volumes 3.33 60% 50% 3.06 3.06 3.06 3.06 40% 30% 20% 10% 0% Q3/17…
  8. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 8
    Highly Concentrated Land Base DOMINANT ACREAGE POSITION WEST CENTRAL ALBERTA CORE AREA Highly focused land base in the prolific Deep Basin of FERRIER Alberta WILLESDEN GREEN 99% of total corporate GREATER PEMBINA production and…
  9. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 9
    Concentrated Multi-Zone Acreage DEEP BASIN MULTI-ZONE ACREAGE Deep Basin is highly coveted for: Sweet, liquids rich natural gas 4,600 ft TVD Belly River 6,200 ft TVD Sweet, light gravity crude oil Cardium Multi-zone hydrocarbon…
  10. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 10
    Focused Spirit River Growth SPIRIT RIVER PRODUCTION GROWTH 75% 30,000 2010 Spirit 60% 24,000 River Spirit River % of Total Company Volumes Other Average Monthly Production (boe/d) 45% 18,000 30% 12,000 June 2017…
  11. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 11
    Spirit River - The Quiet Giant WESTERN CANADA 2016 WELLS CALENDAR DAY PRODUCTION BY ZONE Spirit River Montney L Mannville Viking Bakken Glauconitic Cardium Duvernay Shaunavon Colorado Mississippian Charlie Lake 0 10,000…
  12. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 12
    Spirit River Liquids Rich Gas BXE Land Sections1 GREATER FERRIER AREA CORE SPIRIT RIVER PLAY 204 Gross 112 Net BXE Net Drilling Inventory2 86 proved 30 probable 265 unbooked 381 total True vertical formation depth 2,250 meters…
  13. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 13
    North American Supply Cost Comparison 4.00 3.50 3.00 Henry Hub (US/MMbtu) 2.50 2.00 1.50 1.00 0.50 0.00 Economics assume 15% Before tax IRR, assumes US0.83 = CDN1.00, US0.75/MMbtu AECO basis, and a 20:1…
  14. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 14
    Spirit River All-In Profitability Full Cycle F&D costs C2.50/GJ C3.00/GJ Drill 1.7MM Complete 1.6MM Full cycle F&D costs /Mcfe (0.85) (0.85) Equip & tie in 0.7MM Half cycle costs 4.0MM Land/seismic/facilities 1.1MM Cash costs…
  15. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 15
    Delivering on our 2017 Objectives 2017 RESULTS OUTPERFORMING TYPE CURVE EXPECTATIONS 20 18 16 Producing day volumes (MMcf/d) 14 12 10 8 6 4 2 0 0 30 60 90 120 150 180 210 240 270 300 330 360 Days 2017 Wells…
  16. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 16
    Spirit River Well Costs & Capital Efficiencies FOCUSED CAPITAL COST REDUCTIONS 6.0 Long Reach 5.0 4.0 Costs (millions) Equip & Tie-in Long Reach Long Reach 3.0 Complete 2.0 Drill 1.0 0.0 2015 - 24 wells…
  17. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 17
    Enduring Efficiency Gains AVERAGE SPIRIT RIVER DRILLING CURVES SPUD TO RIG RELEASE BY YEAR 0 20 Days (Spud to Rig Release) 2014 Spirit River Average 500 15 2015 Spirit River Average 1,000 10 2016 Spirit River Average 1,500…
  18. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 18
    Representative Spirit River Inventory Required to Maintain Production Volumes Approximately 14 net Spirit River wells1 per year maintains production in the mid 30 mboe/d range through 2020 Represents scenario of drilling of only 15%…
  19. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 19
    Greater Ferrier Area Infrastructure Overview GREATER FERRIER EXISTING GREATER FERRIER AREA STRATEGIC INFRASTRUCTURE INFRASTRUCTURE ACCESS: Infrastructure gives Bellatrix control of production and growth Working interest or…
  20. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 20
    Drill Bit Focused PLANT INVESTMENT & CONSTRUCTION COMPLETE Q2/18 Major compressor stations, pipelines and Bellatrix Alder Flats Plant capital investment nearing completion Proportion of incremental capital to drilling & completion…
  21. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 21
    Ample Takeaway Capacity & Market Egress AMPLE FIRM TRANSPORTATION IN PLACE FOR ALBERTA NATURAL GAS MARKET EGRESS CURRENT & GROWTH VOLUMES Firm Transportation (FT) agreements in place ALBERTA representing 120% of current gross operated…
  22. The Enercom Oil and Gas Conference – Bellatrix Exploration Ltd. – slide 22
    Compelling Investment Opportunity Excellent Organic SUSTAINABILITY Growth Potential Competitive Economics PROFITABILITY De-risked LONG TERM GROWTH Leading Well Results Technically Astute 23

From the store

Browse maps, data & reports in the Shale Experts store