Premium Pipestone Asset Acquisition August 9, 2018
Pipestone Asset Acquisition Summary 625 million acquisition of the Cenovus Pipestone Partnership, which holds premium Pipestone assets in Northwest Alberta 35,250 net Montney acres (86% WI), predominantly contiguous 52,800 net…
Montney In The Right Neighborhood Condensate-Rich Montney Industry Growth Continues Elmworth to Kakwa Montney HZ Activity Update High level of industry activity continues Incoming 900 Industry Montney HZ wells licensed and/or…
The New NuVista Adding More to the Best of Our Economic Returns PurePlay Montney Company In The Right Neighborhood Balance Sheet Strength Funded Growth Plan with Great Economics Clear LineofSight to 60,000 Boe/d Now 110,000…
Capital Expenditure Highlights Focusing on Near-term Cash Flow Generation while Laying the Foundation Future Growth 2018 Pro Forma Capex Breakdown 2019 Pro Forma Capex Breakdown 20 MM 30 MM 50 MM 110 MM 260 MM 350 MM…
Line-of-Sight now to 110,000+ Boe/d Four Development Blocks Established Pipestone Position Increased Significantly Pipestone Footprint & Targets P Significantly Augmented Gold Creek On Production Four layer development potential in…
Stratigraphy & Well Placement Pipestone area has four well developed zones CVE Pipestone NVA Pipestone Elmworth Gold Creek Bilbo D Middle Montney C B Lower Montney Lower Montney Zone Tested 5% Gas…
Development Underpinned by Robust Established and Emerging Inventory Montney 'A' Reserves & Resource Montney 'B' Reserves & Resource Montney 'C+D' Reserves & Resource Montney Wells Montney Wells Montney Wells Montney D HZ Wells…
Market Egress Plan Material Capacity Secured Plus Significant Optionality Around Future Additions Towards 110,000 Boe/d 110,000+ Boe/d Montney Production Potential 600 120,000 500 Montney Raw Gas Capacity (MMcf/d) 100,000…
Multiple Existing and Future Processing Options Cenovus Existing Gas Plants Wembley Part of Acquired Assets NuVista Ownership NuVista Firm Excess Capacity Facility or Firm Capacity In Downstream Available Keyera Place…
Market Egress Plan In-Place Natural Gas Price Diversification NuVista has contracted for firm transportation on export pipelines to diversify pricing exposure Ongoing rolling hedging program and financial basis hedges further…
Pipestone Acquisition Detail Acreage (Gross / Net Sections) Montney Other 63.8 Gross 131.5 Gross 55.1 Net 82.5 Net Well Count (Gross / Net)(1) Montney NonMontney Total 30 / 28.8 451 / 211.7 481 / 240.5 Sales Production…
Technical Overview Contiguous acreage with year round access Ideally suited for ERH development TVD of reservoir shallower than much of NVA existing acreage lower D & C costs Core acquired acreage is located ideally across the…
Pipestone Montney Acquisition Creates Material Growth Opportunity Pipestone Activity Pipestone Highlights Up to 4 developable layers All have been proven productive on or adjacent to NuVista Lands 28 Montney HZ Wells producing…
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