Obsidian Energy Cardium Roundtable Discussion April 2018
Obsidian Energy Corporate Profile Peace River Corporate Metrics Manufactured Cold Flow, High Rate, Low Share Price /share 1.29 Cost with Multiple Egress Options April 1st, 2018 4,963 boe/d Q4 2017 Net Sections: 235 OBE-TSX Daily…
Obsidian Energys Dominant Cardium Position The largest Cardium land holder with significant running room 700 location inventory with 100MMboe of 2P Reserves Large size of the prize with the right geology for meaningful light oil…
The Largest Land Holder in The Cardium Play Fairway R10W5 INDEX MAP Significant Inventory Upside Reserve book includes 129 highly confident locations Pembina Booked Locations 87 Additional Inventory 363 Total Inventory 450…
Attractive Geology with Recovery Factor Upside 120% R10W5 INDEX MAP 100% NPCU 1 Bear Lake A Lease Lobstick 80% Carrot Creek Watercut (%) J Lease OBE WI Land T50 60% D Lease Easyford F Lease Industry Peer Land PEMBINA G…
Variable Stratigraphy Across the Play Multi-Cycle Optionality for Bioturbated Drilling SW E-NE Lodgepole PCU 9 G Lease F Lease Pembina Conglomerate Clean sandstone Muddy bioturbated sand Sandy bioturbated mud Shale…
Blending Integrated Waterflood with Primary Optionality Willesden Green Cardium Acreage Position OBE unit land Crimson Lake Waterflood R8W5 OBE Cardium WI land 100% Working Interest OBE producing well Injectors Portions of unit…
Exceeding Industry Average in Willesden Green Outperformed the industry average oil production per well for the past four years Consistently improving results year over year R7W5 Willesden Green Average Cumulative Oil by…
R8W5 WILLESDEN GREEN 2018 drilled or completed Willesden Green 11-03-43-8W5 Pad 2018 optionality 2018 non-op participated Industry wells Injectors OBE unit land Results Command OBE Cardium WI land WILLESDEN GREEN More…
Reservoir Complexity in Pembina 6-35-47-10W5 Pad Pembina Cardium Unit 9 Pi 9,249 kPa 2018 drilled or completed Future development Industry wells Injectors OBE unit land OBE Cardium WI land Pi 17,471 kPa Pi 5,996 kPa…
Pembina Waterflood: Improving Decline and Well Performance Drilling with active injection support is improving well performance and economics Strong focus on waterflood management work from 2016/2017 arrested oil decline from 22%…
PEMBINA R10W5 7-22-049-11W5 Pad 2018 drilled or completed Pembina Development Future Development Industry Wells Injectors OBE unit land Economics Driven by OBE Cardium WI land Large EUR 5 kms Integrated waterflood…
Evolving Our Development Strategy and Sharing with Industry Monobore Well Design in Intermediate/Liner Well Design in Willesden Green Willesden Green Well specific approach to manage costs Well specific approach to manage costs Cost…
Why Obsidian Energy, Why Now Cost reduction track record; reduced Opex and G&A by 130 million and lowered net debt by Balanced and 120 million in 2017 disciplined operator Cardium waterflooding, complemented with primary development,…
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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