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September 2017 Corporate Presentation – TORC Oil & Gas Ltd.

TORC Oil & Gas Ltd. · Sep 14, 2017 · 32 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. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 1
    Corporate Presentation September 2017 1
  2. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 2
    CorporateSnapshot TSX:TOG Market Summary Basic Shares Outstanding 187mm Average Daily Volume1 1.9mm shares 2017e Production Market Cap / Enterprise Average: 20,600 boe/d 1.1bln / 1.4bln Value Exit: 21,200 boe/d 0.02 per share (88%…
  3. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 3
    ProvenStrategy Per share growth Competitive advantage through organic Capital efficiencies development & strategic acquisitions Cash costs Operational Integrated Expertise Approach Financial Sustainability Flexibility Long-term…
  4. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 4
    StrategicPriorities FreeCashFlow Managing a Cyclical Business Dividend Balance sheet strength is key Focus on asset quality / capital Organic Growth efficiencies Manage decline profile for sustainability Asset Sustainability…
  5. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 5
    BalancedLightOilAssetBase Low decline, high netback, light oil assets Southeast 400 net undrilled conventional Saskatchewan locations Alberta Saskatchewan Conventional 94% liquids Significant management experience in area…
  6. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 6
    Southeast Saskatchewan Cash Flow Generation Light Oil High Netbacks Low Decline 6
  7. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 7
    SESaskatchewanConventional CashFlowEngine Conventional Pools Large Oil-in-Place1 5 to 100+ mmbbls Depth 1,000 2,000 m Oil Quality 30-40 API Well Spacing 75 150m inter-well Undrilled Locations2 400 net Booked Locations 210…
  8. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 8
    SESaskatchewanConventional SE Saskatchewan - Conventional & Fracd Midale Conventional Mississippian: Stacked, discrete flow units, Frobisher: Open hole, 1/2 mile hz excellent rock properties Midale: 30 stage liner, 5…
  9. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 9
    SESaskatchewanConventional CashFlowEngine 300 2014 Economic Parameters1 280 260 2015 DCE&T 0.9mm 2016 240 2017 IP 365 46 bopd 51 boepd Production Rate, 30 Day Avg (BOPD) 220 50 mbbl Curve Reserves 50 mbbls 55 mboe 200…
  10. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 10
    SESaskatchewanConventional SE Saskatchewan Conventional Wells Drilled vs Inventory 400 350 Inventory has been expanded through high quality acquisitions 300 250 Extensive experience in area drives Well Count 200 prospect…
  11. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 11
    Torquay/ThreeForks LightOilResourcePlay Large Oil-in-Place1 5 mmbbls / section Land 50 net light oil sections Depth 2100 2300m Oil Quality 40 API sweet Well Spacing 4 wells / section Undrilled Locations2 150 net Booked…
  12. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 12
    Torquay/ThreeForks Torquay / Three Forks Units 4-6 Units 1-3 Trap: combination stratigraphic-structural, proximal to Bakken 30 stage liner, 40 tonnes/stage, fracd with oil generation window slickwater 1 mile hz Units 1…
  13. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 13
    Torquay/ThreeForks LightOilResourcePlay 350 175mbblCurve Economic Parameters1 Average 300 DCE&T 2.8mm IP 365 119 bopd 250 Reserves 175 mbbls Production Rate, 30 Day Avg (BOPD) Production Adds 23,530 per boe/d 200 Reserve…
  14. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 14
    Torquay /ThreeForks DepthandQualityofInventory Torquay/Three Forks Wells Drilled vs Inventory Initial footprint was acquired through 160 2013 strategic acquisition 140 120 TORC exploration program along with 100 industry…
  15. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 15
    Cardium Light Oil Low-Risk Development Inventory 15
  16. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 16
    CardiumTrend DevelopmentDrilling Large Oil-in-Place1 5 mmbbls / section Land 95 net light oil sections Depth 1600 2000m Oil Quality 40 API sweet Well Spacing 4 wells / section Undrilled Locations2 290 net Booked Locations…
  17. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 17
    CardiumTrend West Central Alberta - Cardium Cardium Regional shoreface, stratigraphic trap, low permeability halo Land wellbore in upper porosity and and discrete pools geosteer in best quality rock 25 stage liner, 20…
  18. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 18
    CardiumTrend DevelopmentDrilling 350 Economic Parameters1 250 mboe Curve 300 Average DCE&T 2.7mm IP 365 85 bopd 135 boepd Production Rate, 30 Day Avg (BOEPD) 250 Reserves 156 mbbls 250 mboe Production Adds 20,000 per boe/d…
  19. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 19
    CardiumTrend DepthandQualityofInventory Cardium Wells Drilled vs Inventory 300 250 Maintained inventory through tuck-in acquisitions replacing annual drill 200 program Well Count 150 Sustainability and repeatability…
  20. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 20
    Supporting Sustainability Asset Quality with Financial Flexibility 20
  21. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 21
    SustainabilityAnalysis Sustainability Highlights Sustainability Run Rate Production 20,800 boe/d Decline Rate 23.0 % Run rate production of 20,800 boe/d (88% oil & NGLs) Annual Production Decline 4,784 boe/d o Corporate decline…
  22. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 22
    SustainabilityAnalysis CommoditySensitivity Run Rate: 20,800 boe/d WTI (US) 40.00 45.00 50.00 55.00 60.00 FX (US/C) 0.75 0.75 0.77 0.79 0.79 WTI (C/bbl) 53.33 60.00 64.94 69.62 75.95 Edm Lt vs C WTI Differential (/bbl) -4.50 -4.50…
  23. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 23
    BalanceSheetStrength 242mm net debt 450 400 350 300 250 400mm bank facility 200 mm 196mm drawn 150 100 50 0 Q4'14 Q4'15 Q4'16 Q2'17 50% undrawn bank line Drawn Facility Size Maintain Financial Flexibility…
  24. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 24
    Dividend+DisciplinedGrowthChecklist Sustainability of the business model driven by: Decline rate 23% Operating netback1 30 Capital efficiency: all-in IP365 24,000 per boe/d (2017 budget) 242mm net debt Strong balance sheet 196mm…
  25. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 25
    InvestmentSummary Low decline, high netback Focused, light oil asset base production base Sustainable yield All-in payout ratio targeted below 100% Opportunity for CPPIB to support future Strategic relationship growth and / or…
  26. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 26
    CorporateInformation Management Banks Analyst Coverage BrettHerman BankofMontreal President&ChiefExecutiveOfficer BMOCapitalMarkets- RayKwan TheToronto-DominionBank JasonZabinsky CanadianImperialBankofCommerce…
  27. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 27
    Appendix 27
  28. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 28
    2017CapitalProgram Conservative 130mm program Capital Spending Flexibility to adjust spending levels and asset allocation through the year 90 80mm in 2nd half 5-7% growth maintains current 23% decline rate 80 Focus on…
  29. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 29
    WellsDrilledCorporately DepthandQualityofInventory Total Wells Drilled Depth of Inventory Across All vs Inventory Core Areas 900 25% Each location thoroughly scrutinized 800 through detailed evaluation by the 700 20% technical…
  30. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 30
    ModelingAssumptions 2017 Average: 20,600 boepd (88% oil & liquids) Production: 2017 Exit: 21,200 boepd (88% oil & liquids) Per Share: 0.24 per share Annual Dividend: Gross: 45mm Net: 27mm (net of 40% SDP participation) Corporate…
  31. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 31
    Hedging Current Hedge Summary (C/Bbl) Volume (Bbl/d) Type Low High Index Jan 1, 2017 - Dec 31, 2017 250 Collar 55.00 77.50 CWTI Jan 1, 2017 - Dec 31, 2017 250 Collar 55.00 80.25 CWTI Jan 1, 2017 - Dec 31, 2017 250 Collar 55.00…
  32. September 2017 Corporate Presentation – TORC Oil & Gas Ltd. – slide 32
    SignificantCornerstoneInvestment fromCPPIB CPPIBs Relationship Investments group provides long-term strategic capital to select companies CPPIB believes are positioned to be leaders in their respective industries Strategic…

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