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1Q 2018 Earnings Presentation – Delphi Energy Corp.

Delphi Energy Corp. · May 10, 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. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 1
    May 2018 HIGH-MARGIN, LIQUIDS-RICH PRODUCTION IN THE WORLD- CLASS MONTNEY BIGSTONE REGION
  2. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 2
    WHY OWN DELPHI. Pure play MONTNEY E&P company with WORLD CLASS ASSETS: Robust well economics driven by: High condensate rates/stable condensate ratios Attractive capital costs and efficiencies Increasing netbacks and margins Owned…
  3. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 3
    BIGSTONE SOUTHERN END OF PROLIFIC LIQUIDS RICH MONTNEY TREND CORPORATE INFORMATION Ticker Symbol TSX:DEE Basic Shares Outstanding (mm) 185.5 Market Capitalization (mm)(1) 187.4 (2) Grande Prairie Net Bank Debt / Credit Facility…
  4. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 4
    2018 GUIDANCE FOR FIRST HALF 2018 2018 First Q1 Q2 Half Guidance Actuals Forecast 2018 capital program supported by Net Capital Program ( million) 38 - 45 41.2 5.5 - 6.0 significant production and cash flow growth Gross Well Count…
  5. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 5
    GROWING THE DOMINANT LAND POSITION Largest Land Position at Bigstone Continue to identify and pursue additional consolidation opportunities Montney land base has grown to 169.5 gross sections (111.3 net) Significant land position…
  6. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 6
    BIGSTONE INFRASTRUCTURE FULLY INTEGRATED Amine plant commissioned in April 2018 sending Montney gas to Repsol 14-28 plant (25% Delphi working interest) West Bigstone 16-10 well producing to 100% Delphi 11-03 sweet gas…
  7. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 7
    DELINEATING THE LARGE LAND POSITION 15 new wells on-stream in 2017 7 new wells completed in 1H 2018 Development & Delineation 100% drilling success on 52 DEE wells 4 wells drilled in 1H/2018 7 wells on production in 1H/2018 Three…
  8. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 8
    RECENT WELL RESULTS YIELD EVEN GREATER MARGINS Condensate Gas Ratios (CGR) Improving with Frac Design Changes Initial Production (IP) Rate Well Performance (1) Frac Design Generation IP30 IP90 IP180 IP365 Total Sales Field CGR…
  9. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 9
    INCREASING NETBACKS Corporate netbacks increase with addition of higher condensate yield wells Impact of Production Composition on Operating Netback for Bigstone Montney(1) % Change 16-12/13-7 versus Gen 1 Revenue 48% Royalty…
  10. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 10
    NETBACK COMPARISON MONTNEY PRODUCERS Condensate yields, total liquids content and operating netbacks are among the highest Operating netbacks continue to increase as: o Focus on West Bigstone production growth where liquids yields and…
  11. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 11
    WESTERN-MOST WELLS: HIGHEST CONDENSATE YIELD TO DATE Highest initial condensate yield Shallower initial decline Average IP90 field condensate yield of 203 bbl/mmcf sales Both wells completed with 40-stages and 1,350 lb/ft of…
  12. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 12
    IMPROVED PARENT / CHILD WELL MANAGEMENT Offset Frac Well Initial production Intervention performance of 13-9 (and other pad wells) was below expectations It was further impacted by an offset frac in October A partial…
  13. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 13
    SECURE MARKET ACCESS FOR GROWTH Delphi/Alliance Contracted Transportation Full Path Service to Chicago Service (mmcf/d) Alliance 57 mmcf/d of firm and priority interruptible service Access to premium pricing via Chicago City…
  14. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 14
    GAS MARKETING IN 2018 100% SHELTERED FROM AECO CARNAGE Approximately 80% of natural gas sold in Chicago generating significantly higher netback pricing than AECO. Approximately 70% of Chicago sales volumes are hedged with NYMEX…
  15. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 15
    CONTRACTED ALLIANCE SERVICE IS A VALUABLE ASSET Delphis Alliance service worth approximately 40 million (1) The undiscounted value of the arbitrage between AECO and Chicago netback prices available through all of Delphis Alliance…
  16. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 16
    2018 AND BEYOND MAINTAINING KEY VALUES World Class Montney Asset Delineation drilling results have validated Delphis Bigstone Montneys significant value potential Superior condensate rich well performance yielding top decile capital…
  17. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 17
    APPENDIX May 2018 19
  18. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 18
    INDIVIDUAL MONTNEY WELL DATA Initial Production (IP) Rate Well Performance (1) Well(2) Frac Design Horizontal Number IP30 IP90 IP180 IP365 Generation Length of Fracs Total Sales Field Condy Total Sales Field Condy Total Sales Field…
  19. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 19
    MONTNEY ECONOMIC MODEL Bigstone Montney Toe Up Two Section Horizontal Hypothetical Type Wells 30+ stage Slickwater Completion Economics/Metrics - Flat Pricing: WTI US65/bbl, NYMEX US2.80/mmbtu East West Payout yrs 1.6 1.4 IRR %…
  20. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 20
    PROVEN RISK MANAGEMENT PROGRAM Consistent Hedge Performance Commodity Hedges Q1 2018 Q2 2018 Q3 2018 Q4 2018 2019 Majority of near term production is Natural gas (mcf/d) 20.0 21.0 21.0 17.4 7.2 hedged Average hedge price (C/mcf)…
  21. 1Q 2018 Earnings Presentation – Delphi Energy Corp. – slide 21
    2300, 333 7th Avenue SW Calgary, Alberta T2P 2Z1 P (403) 265-6171 F (403) 265-6207 infodelphienergy.ca www.delphienergy.ca May 2018 24

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