Obsidian Energy Corporate Profile Peace River Corporate Metrics Manufactured Cold Flow, High Rate, Low Share Price /share 1.18 Cost with Multiple Egress Options Feb. 28, 2018 4,963 boe/d Q4 2017 Net Sections: 235 OBE-TSX Daily…
Developing a Track Record of Delivering Results Q4 2017 A&D Adj. FY 2017 2017 Total 2017 Operating Production Production Expenditures Expenses boe/d boe/d MM /boe Double Digit Guidance Total Capital 34,000 Growth 32,000 Beat 180…
2017 Reserves Highlight Revitalized Operational Delivery Reserve book reflects a conservative future NAV Valuation (/Share) development profile centered around a growing PDP 2P quantum of low F&D waterflood additions 2P NPV10 (BN)…
Low Decline Rate Underpins Growth 16% Corporate Base Production Decline Rate Cardium Asset Under Historical Waterflood Capital Efficiencies of 6,500/boe/d on 2017 Optimization Projects Optimization of existing base wellbores Corporate…
Focused 2018 Plan Predictable & Liquids Weighted Growth Profile Development Capital is 64% of Total Expenditures Flexibility to expand capital program in H2 and extend growth rate 2018 Production (boe/d) 2018 Total Expenditures…
Portfolio Optionality on Display Increased Cardium Employing a quicker payout program that Horizontal Drilling balances primary drilling with targeted Focus by 9MM low capital integrated waterflood opportunities (three wells) 2018…
WILLESDEN R8W5 Willesden Green GREEN WILLESDEN GREEN 14-01-043-08W5 Pad Results Command WILLESDEN GREEN 11-03-43-8W5 Pad More Capital 4 well pad in Willesden Green Cardium on-stream as of Jan. 3, 2018. Average 10 kms…
Multi-Cycle Bioturbated Drilling Activity Bioturbated Drilling 50 wells since 2014 in Willesden Green R9 R7W5 2 Operated primary T43 Drilling in the bioturbated rock and wells for 2018 fracking into clean intervals above…
R11W5 PEMBINA Dominating OBE Cardium land OBE land OBE producing well Industry HZ well Pembina Acreage 15 kms 10 miles T50 Integrated waterflood approach improves recovery factor PEMBINA 8-25-47-9W5 Pad After…
R10 R10 R1W4 AB Viking Program Misty GP Compeer GP Continues to Exceed Monitor West GP Expectations Light-oil, high netback shorter cycle Esther GP T30 wells Infrastructure advantage with key INDEX MAP owned and…
R15W5 PROP Program in the INDEX MAP Heart of Harmon OBE land Acquired land in 2017 Harmon Valley South PROP Valley Large contiguous position in a crude oil resource highly amenable to conventional cold-flow…
R8W5 Deep Basin Results OBE land 100/02-03-044-09W5 OBE operated Cardium unit On Production: 10/26/2017 Initial Rate: 3.9 MMCFD are Liquids Rich Falher B 100/14-30-043-07W5 On Production: 8/30/2017 Trend Initial Rate: 3.2…
2018 Capital Efficiency Buildup Program leverages the short cycle opportunity set in our portfolio Development Capital efficiencies…
Reducing Liability Through Legacy Asset Disposition Legacy Asset Disposition Lands January 2018 sale of a significant portion our non-core legacy R1W5 R20 R10 R1W4 assets in exchange for the assumption of abandonment and…
Reducing Liability Through Efficient Asset Retirement Program based abandonment Working with AER as part of the Portfolio Management Pilot on full field abandonment to realize efficiencies and further reduce decommissioning…
Why Obsidian Energy, Why Now Track record of lowering costs; stripped out 130 million of Opex and G&A in 2017 alone and lowered net debt by 120 million Balanced and Prudent infrastructure investment and liability management disciplined…
Appendix ObsidianEnergy.com TSX/NYSE: OBE
End Notes All slides should be read in conjunction with Definitions and Industry Terms, Non-GAAP Measure Advisory, Oil and Gas Disclosures Advisory and Forward-Looking Advisory Slide 3. Obsidian Energy Corporate Profile Daily Volume…
Non-GAAP Measures Advisory Non-GAAP measures advisory In this presentation, we refer to certain financial measures that are not determined in accordance with IFRS. These measures as presented do not have any standardized meaning…
Reserves Disclosure and Definitions Any reference to reserves in this presentation are based on the report (Sproule Report) prepared by Sproule Associates Limited dated January 29, 2018 where they evaluated one hundred percent of the…
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