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February 2018 Investor Presentaiton – Bonterra Energy Corp

Bonterra Energy Corp · Feb 28, 2018 · 21 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. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 1
    BONTERRA ENERGY CORP. FEB 2018 POSITIONED FOR SUCCESS
  2. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 2
    FOCUS ON FUNDAMENTALS SUSTAINABLE YIELD Low Corporate Decline 22% Corporate Decline All-in costs (royalties, operating costs, G&A, and interest Low Cost Producer expense) of approximately 21 per boe DISCIPLINED GROWTH Light…
  3. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 3
    CURRENT SNAPSHOT Common shares 33.3 mm outstanding Insider ownership 12% Current monthly dividend 0.10 per share Current annualized yield(1) 8.0% Oil and liquids weighting 71% Oil & Liquids Reserve life index (2P) 20 years…
  4. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 4
    DIVIDEND HISTORY 160.00 Dividend EDM Light Share Price 140.00 0.30 Edmonton Light (/bbl) & BNE Share Price (/share) 120.00 100.00 0.20 Dividend (/month) 80.00 60.00 0.10 40.00 20.00 - 0.00 Month…
  5. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 5
    PEMBINA CARDIUM OVERVIEW Majority of Bonterra land covers areas with large original-oil-in-place, offering significant potential to increase recovery factors resulting in sizable increases in reserves and production. ORIGINAL OIL IN…
  6. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 6
    CONCENTRATED ASSET BASE CARDIUM LANDS Average working interest 76% Cynthia Bonterra operates 88.5% of its total West Keystone production Pembina Reserve life index (P+P) 20 years Carnwood Blue Rapids Rose Creek Reserves…
  7. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 7
    PRODUCTION FORECAST Vertical Wells Horizontal Wells 2018 Capital Program 16,000 14,000 12,000 10,000 BOE/d 8,000 22% Corporate Decline Rate 6,000 4,000 2,000 0 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18…
  8. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 8
    SHAREHOLDER VALUE Production per Share Production Profile (boe per share) 30% Natural Gas 0.109 0.119 0.124 0.147 0.150 0.140 0.140 70% Oil/NGLs 13,195 12,656 12,650 12,190 2010 2011 2012 2013 2014 2015 2016…
  9. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 9
    SHAREHOLDER VALUE Reserves per Share Reserves Profile (boe per share) (Proved plus Probable) (Proved plus Probable) 29% Natural Gas 2.09 2.13 2.28 2.47 2.50 2.78 2.85 71% Oil/NGLs 94,905 90,621 80,248 2010 2011…
  10. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 10
    HIGH QUALITY RESERVE BASE Grand Total Reserves 95 Million boe 10% NPV Total 1.36 billion Probable Probable 22% Proved 23% Developed Proved Producing Developed Proved Producing 43% Undeveloped 54% Proved Undeveloped 23% 35%…
  11. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 11
    LOW-COST RESERVE ADDITIONS IMPROVING CAPITAL EFFICIENCIES FD&A Costs per BOE, Incl. FDC 1P FD&A 2P FD&A 25.00 22.67 Bonterra is getting more efficient at replacing its reserve base 20.00 18.90 42% reduction in 1P FD&A from…
  12. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 12
    COMMITMENT TO COST CONTROL DECLINING ALL-IN COSTS PER BOE 30.00 All-In costs less than 20.00 per boe 27.01 25.24 25.21 25.00 30% reduction in All-In costs from 2012 to 2016 19.00 18.98 20.00 30% reduction in Operating Costs…
  13. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 13
    DRILLING & COMPLETION INNOVATION Total Drill, Complete, Equip & Tie-In Cost Per Well 1 mile horizontal 3,500 3,000 2,500 D&C COST MM Forecast 2,000 1,500 1,000 500 0 2012 2013 2014 2015 2016 2017 Drill…
  14. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 14
    SUSTAINABILITY Production Assumption: 12,900 growing to 13,200 WTI (USD) /bbl 50.00 55.00 60.00 65.00 70.00 Differential (USD) /bbl (3.00) (3.50) (3.50) (4.00) (5.00) Foreign Exchange USD/CAD 0.76 0.78 0.78 0.80 0.80 Quality Adjustment…
  15. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 15
    AVERAGE BNE CARDIUM ECONOMICS BNE TYPE CURVE PREDICTABLE AND REPEATABLE 300.00 250.00 Reserves per well (MBOE) 165 200.00 IP (1 month) (boe/d) 255 BOE/D 150.00 IP (12 months) (boe/d) 125 100.00 50.00 - 1 2 3 4 5 6 7 8 9…
  16. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 16
    CARDIUM LOCATIONS SIGNIFICANT CARDIUM INVENTORY Total Inventory * Booked Locations 2018 Drill Program Area Name Avg WI% Gross Net Gross Net Gross Net ROSE CREEK 97.2% 240 233 32 30 8 8 KEYSTONE 94.8% 175 166 94 91 2 2 CARNWOOD…
  17. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 17
    CARNWOOD AREA Drilled Potential Drilling locations Sections: 41 gross (37 net); Locations (6 to 8 wells per section): 206 gross (190 net) 17
  18. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 18
    PEMBINA CARDIUM DEVELOPMENT R6W5 CONVENTIONAL VERTICAL DEVELOPMENT Estimated ultimate oil recovery: 196,000 Bbl Recovery factor: 4% HORIZONTAL DEVELOPMENT: PRIMARY DEPLETION Estimated horizontal ultimate oil recovery: 264,000…
  19. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 19
    PEMBINA CARDIUM DEVELOPMENT HORIZONTAL WATERFLOOD PILOT Primary vs. Waterflood Horizontal Production Horizontal Primary Horizontal Waterflood 1000 Start of injection 100 BOPD Based on production and numerical reservoir…
  20. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 20
    APPENDIX Recovery Factor = 10% to 14% Recovery Factor = 3.2% 20
  21. February 2018 Investor Presentaiton – Bonterra Energy Corp – slide 21
    CASH FLOW SENSITIVITIES Per Annum Cash Flow Sensitivity Analysis(1) (estimate for 2017) Cash Flow Per Share(2) Change of Canadian 1.00 per barrel of oil and NGLs 2,774,000 0.09 Change of Canadian 0.10 per MCF of natural gas 872,000…

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