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August 2018 Enercom Conference – Tamarack Valley Energy Ltd.

Tamarack Valley Energy Ltd. · Aug 21, 2018 · 27 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. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 1
    Predictable & Sustainable Per Share Growth August, 2018 TVE : TSX www.tamarackvalley.ca 1
  2. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 2
    Proven Management Team Spearpoint Energy - President & CEO; sold to NAL Oil & Gas Trust in Aug 2009 Apache Canada (7 yrs) President for last 3 yrs. Grew from 17,000 to 120,000 boe/d during tenure; invested Brian Schmidt 4.5 billion…
  3. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 3
    Tamarack Valley Sustainable Growth into 2018 Market Summary Share price TVE: TSX 4.91 +985,000 Tamaracks executive increased Shares outstanding (mm) 228.0 ownership by over 985,000 Fully diluted (mm) 232.3 shares in 2017 & H1/18…
  4. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 4
    Managing Through a Commodity Downturn Optimizing Returns During Various Commodity Price Cycles 2015 2016 2017 2018+ LOWER COMMODITY PRICES HIGHER COMMODITY PRICES Immediately cut capital to Focus on program development protect…
  5. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 5
    Executing a Longer-Term Strategy For Success Taking the right action at the right time in the commodity price cycle FOCUS ON DEBT REDUCTION ASSEMBLED ASSET BASE WITH LONG RUNNING ROOM Q1 2015: 2.2x D/CF(1) Production = 8,092 boe/d Core…
  6. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 6
    How is the Strategy Working Another production beat H1/18 at 23,693 boe/d vs. guidance range 22,750 to 23,250 boe/d Strong liquids weighting at 63% driven by capital shift to oil weighted drilling First half production beat…
  7. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 7
    2018 Areas of Focus Q2 2018 Production BOE/D % Liquids Viking light oil 12,163 72% Cardium light oil 9,005 55% ALBERTA SASKATCHEWAN Penny light oil 1,273 72% Other 1,412 32% Total 23,853 63% VIKING OIL Redwater 2018 Budgeted…
  8. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 8
    2018 Plan & Prelim 2019 Plan 2018 Guidance(1) Annual production increased to 23,500 24,000 boe/d (64-66% oil & liquids) (10-15% DAPPS growth) Exit production between 24,000 24,500 boe/d (65-67% oil & liquids) (7-10% DAPPS growth)…
  9. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 9
    Financial Stats per BOE 2017 Actuals Q4/17 Q1/18 Q2/18 2018 Budget WTI (USD) 51.00/bbl 55.39/bbl 62.91/bbl 67.88/bbl 56.75/bbl Edm Par (Cdn) 62.23/bbl 66.86/bbl 72.30/bbl 78.90/bbl 64.60/bbl AECO (Cdn) (monthly index) 2.41/GJ 1.95/GJ…
  10. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 10
    Q1 2018 Cash Flow Netback Performance (E&Ps 60% liquids) 45 100% 40 90% 80% 35 Cash Netbacks (excl. hedges /boe) 70% 30 60% 25 50% 20 40% 15 30% 10 20% 5 10% 0 0% Peer 1 Peer 2 TVE Peer 3 Peer 4 Peer 5…
  11. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 11
    Improving Cash Costs All-in cash costs have steadily declined while production continues to grow Total Cash Costs 30,000 20 23% 25,000 1.21 2014 to 2017 16 1.66 Production (boe per day) 3.11 0.90 20,000 2.35 0.97 1.10…
  12. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 12
    Current Hedges Internal Report (as at May 31, 2018) Term Hedge Type Volume Pricing % hedged April 1, 2018 to June 30, 2018 WTI fixed price 300 bbls/d Cdn 80.17/bbl 43% April 1, 2018 to June 30, 2018 WTI fixed price 5,200 bbls/d US…
  13. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 13
    Wilson Creek Cardium Stable Growth Through A Downturn 10,000 Gas Oil Production (boe/d) (1) 8,000 6,000 4,000 2,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2014 2015 2016 2017 2018 (3) 2015 2016…
  14. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 14
    Optimizing ROR in the Cardium Strategic Frac Density Average Rock High Density Frac Target Better Rock Low Density Frac Target 3% Cutoff 3% Cutoff 2 Joint Spacing (High Density) Frac 4 Joint Spacing (Low Density) Frac…
  15. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 15
    Viking Area Growing a New Core 14,000 12,000 Gas Production (boe/d) (1) Oil Closed Spur 10,000 acquisition 8,000 6,000 4,000 2,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2016 2017 2018 (3) Viking Opportunity…
  16. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 16
    Veteran Area Overview Acquisition cost 415 million, plus 2017 capital investment of 7% 5% 95.6 million with exit production at 9,900 boe/d = 52,000/boepd 1% Current land 247 net sections; added 30 net sections in 2017 Total OOIP…
  17. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 17
    TVE Veteran Pressure Support Makes Viking Better 2017 drills UPPER VIKING 2018 drills UPPER SST-THICKER, TIGHT PERMEABILITY 2017 infrastructure 2018 infrastructure HAMILTON LAKE HIGHER PERMEABILITY ZONE WATER FLOODED IN…
  18. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 18
    Material Production Build from less Viking Decline TVE Wells vs. Industry Viking Wells Veteran Production Performance 100 10,000 TVE Wells 140 Base Production Peer 1 90 9,000 New Drills Oil Peer 2 Peer 3 New Drills Gas 120 80…
  19. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 19
    TVE Actual Prodn vs. Sproule Type Curves Rate vs. Time 100 100 90 90 80 80 70 70 60 60 Oil Rate (bbl/d) Well Count 50 50 40 40 30 30 20 20 10 10 0 0 0 60 120 180 240 300 360 420 Days On Production oil…
  20. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 20
    2017 Delivering on Promises & 2018 H1 Outlook What we said we would accomplish What we accomplished to end of Q4/17 First Half 2018 Objectives in 2017 (Jan 18/17 press release) Q4/17 averaged 22,807 boe/d (62% liquids) based on…
  21. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 21
    Summary 2017 and Q1/18 results have outperformed expectations, driven by positive execution post the acquisition of the Spur Viking Less Viking decline than anticipated resulting in increase corporate performance (exit production…
  22. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 22
    Corporate Social Responsibility Environmental Stewardship & Community Involvement Community Sponsorship & industry fundraising for Juvenile Diabetes Research Foundation, Inn from the Cold, plus support of Drug Awareness campaigns…
  23. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 23
    Appendix 25
  24. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 24
    Financial Reconciliation-Adjusted Operating Field Netback(1) Q4 2017 and 2017 Actuals 2017 Actuals Q4 2017 Actuals 000s Per boe 000s Per boe Income (Loss) before taxes -17,535 -2.39 -16,851 -8.03 Unrealized loss/(gain) on financial…
  25. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 25
    Financial Reconciliation-Adjusted Operating Field Netback(1) Q1 2018, Q2 2018 and 2018 Budget(3) 2018 Q1 2018 Actuals Q2 2018 Actuals Budget(3) 000s Per boe 000s Per boe Per boe Income (Loss) before taxes 5,073 2.39 4,731 2.18…
  26. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 26
    Tamarack Valley Key Strategic Guidelines Key Strategy & Principles: Growth company with a long term focus Internal processes and skills to grow to a much larger size than current Multi-play strategy ensures risk management through…
  27. August 2018 Enercom Conference – Tamarack Valley Energy Ltd. – slide 27
    Tamarack Valley Solid Plan for 2018 Budget Principles: Achieve 10-15% debt-adjusted production per share growth (1) Capital spending to match estimated cash flow at oil prices that are currently below strip prices Increase oil…

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