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June 2018 Corporate Presentation – Bonterra Energy Corp

Bonterra Energy Corp · Jun 15, 2018 · 21 slides

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Slides

  1. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 1
    POSITIONED FOR SUCCESS CORPORATE PRESENTATION June 2018 TSX: BNE 1
  2. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 2
    Current Snapshot Financial Common shares outstanding 33.3 million Insider ownership 12% Current monthly dividend 0.10 per share Current annualized yield (1) 7.5% Tax pools at Dec 31, 2017 423 million Tax horizon 2019 2018 Q1 Exit…
  3. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 3
    Bonterra: Focused on Fundamentals Bonterra is a dividend paying oil & gas company focused on the development of its low-risk, oil-weighted asset base concentrated in the Cardium field in Alberta. Low Corporate Decline: 22% Low Cost…
  4. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 4
    2018 Production Forecast 16,000 14,000 12,000 10,000 BOE/d 8,000 22% Corporate Decline Rate 6,000 21% Corporate Decline Rate 4,000 2,000 0 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19…
  5. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 5
    2018 Guidance & Sustainability Production Assumption = 12,825 boepd growing by 4.5% to 13,400 boepd WTI USD/bbl 55.00 60.00 65.00 70.00 75.00 Differential USD/bbl (3.50) (4.25) (4.25) (5.00) (5.00) Foreign Exchange USD/CAD 0.76 0.77…
  6. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 6
    Dividend History Cumulative Dividends Paid 1.1 Billion Cumulative Dividends Paid Per Share (1998 Feb 2018): 42.48 160.00 Edmonton Light (/bbl) & BNE Share Price (/share) 140.00 0.30 120.00 Dividend (/month) 100.00…
  7. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 7
    Commitment to Cost Control All-in Costs per BOE 21.73 2.54 1.53 12.56 21.73/boe All-in costs 5.10 2018 (EST.) Royalties Operating Costs General & Administration Total Interest Expense 9
  8. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 8
    Production Managed to Optimize Value Annual Production (BOE per day) 13,195 13,400 12,656 12,650 12,827 12,190 6,703 6,322 5,628 2010 2011 2012 2013 2014 2015 2016 2017 2018 (1) OIL & NGL GAS Successfully…
  9. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 9
    Consistent Reserves Growth Gross Reserves Growth (MBOE Proved plus Probable year over year) 99,840 94,905 90,621 80,248 74,981 45,032 39,371 41,149 2010 2011 2012 2013 2014 2015 2016 2017 Proved Probable Our asset…
  10. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 10
    Building per Share Value Production per Share Reserves per Share (BOE per share) (BOE per share) (P+P) 0.150 0.147 0.147 0.141 0.140 0.139 3.00 2.85 0.124 2.78 0.119 0.109 2.50 2.47 2.28 2.13 2.09…
  11. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 11
    Pembina Cardium Overview Original Oil in Place per Section Recovery Factor 0 to 5,000 Mbbl 0% 5,000 to 10,000 Mbbl 5% 10,000 to 20,000 Mbbl 10% 20,000 to 25,000 Mbbl 15% 25,000+ Mbbl 20% 25% Pembina is the largest…
  12. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 12
    Concentrated Asset Base Cardium Lands by the Numbers Cynthia 353 gross Sections of land West Keystone Pembina (239 net) 92% Operated Production Carnwood Blue Rose Rapids Creek 1,051 gross Total Cardium locations (738…
  13. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 13
    Significant Cardium Location Inventory Total Inventory (1) Booked Locations 2018 Program Area Name Avg WI% Gross Net Gross Net Gross Net Rose Creek 97.1% 240 233 51 48 8 8 Keystone 94.9% 175 166 97 93 2 2 Carnwood 87.2% 133 116 54…
  14. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 14
    Average BNE Cardium Full Cycle Economics 300.00 Reserves per well (MBOE) 165 250.00 IP (12 months) (boe/d) 112 200.00 BOE/D 150.00 100.00 50.00 - 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Month…
  15. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 15
    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…
  16. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 16
    Cardium Horizontal Waterflood Pilot Primary vs. Waterflood Horizontal Production Horizontal Primary Horizontal Waterflood 1000 Start of injection 100 BOPD Based on production and numerical reservoir simulation RF = 15%…
  17. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 17
    Why Bonterra Focus on Disciplined Sustainable Balance Growth Yield Sheet Free Cash Flow Concentrated Asset Base Low Corporate Decline Generation Significant Low Risk Low Cost Producer Economic Drilling Inventory Established…
  18. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 18
    Appendix 20
  19. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 19
    Cash Flow Sensitivities Sensitivity Analysis(1) Cash Flow (estimate for 2018) Cash Flow Per Share(2) Per Annum Change of Canadian 1.00 per barrel of oil and NGLs 2,814,000 0.08 Change of Canadian 0.10 per MCF of natural gas…
  20. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 20
    Financial Highlights (000s except per share amounts) Q1 2018 Year Ended 2017 Funds Flow 27,900 102,444 Per share basic 0.84 3.08 Dividend payout ratio 36% 39% Cash Dividends per share 0.30 1.20 Average Daily Production per BOE…
  21. June 2018 Corporate Presentation – Bonterra Energy Corp – slide 21
    Corporate Information OFFICERS G. F. Fink BANKS CEO & Chairman of the Board CIBC R. D. Thompson National Bank of Canada CFO & Corporate Secretary The Toronto Dominion Bank A. Neumann Alberta Treasury Branches Chief Operating…

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