Skip to main content September 2018 Corporate Presentation – Bonavista Energy Corp | Shale Experts
Loading...
Pm

September 2018 Corporate Presentation – Bonavista Energy Corp

Bonavista Energy Corp · Sep 10, 2018 · 36 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. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 1
    CONSISTENTLY ADAPTING TO THE ENVIRONMENT September, 2018 1
  2. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 2
    Corporate Identity 2 All together better
  3. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 3
    Corporate Identity We strive to be the most agile, efficient and responsible provider of hydrocarbon energy in Western Canada Innovating and adapting Finding a better way Sustainability 30% 27% 24% 15.00 15.00 40% 10.00 10.00…
  4. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 4
    Corporate Identity Two core areas in Alberta with unique strengths 2017 Deep Basin West Central (year ended December 31, 2017) Operate 92% of our Production 26,880 41,929 (boe/d) production Oil and Liquids 12% 42% (% of…
  5. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 5
    Corporate Identity Strategic capital allocation optionality of our diverse natural gas portfolio Value1 Capital Distribution 100% 7.50 75.00 1,200 90% 80% 60.00 6.00 1,000 70% AECO / WTI Horizontal Well Count Value…
  6. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 6
    Corporate Identity Core areas well connected to natural gas demand and egress Saskatchewan BNP Core Lands BNP Non-core Lands Alberta 5 Delivery Options: Pipeline connecting to Deep Basin export market 1 NGTL Empress (Eastern…
  7. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 7
    Corporate Identity H1 2018operating and financial results Operational: 70,304 boe/d production, 26% oil and liquids 5.71/boe operating cost 13 (11 net) wells drilled Financial: 135 million adjusted funds flow (AFF), 0.52 per…
  8. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 8
    2018 Priorities and Guidance 8 All together better
  9. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 9
    2018 Priorities financial position with excess adjusted funds flow STRENGTHEN net operating income by allocating capital asset quality through to liquids rich innovation and development concentration MAXIMIZE ENHANCE 9
  10. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 10
    Strengthening Financial Position 10 All together better
  11. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 11
    Strengthening Financial Position At current natural gas prices, maintain production and strengthen financial position 2018 H1 2018E Capital Expenditures ( millions): Total Exploration and Development 77.0 135 155 Divestitures,…
  12. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 12
    Strengthening Financial Position Generating 70-90 million in excess adjusted funds flow while maintaining production 250 80,000 70,000 200 Excess adjusted funds flow 60,000 Production (boe/d) 150 50,000 millions…
  13. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 13
    Strengthening Financial Position Asset quality supports sustainability and generates debt adjusted production per share growth 2018E Cash Use / 2018E Cash Flow (Pre DRIP) 2019E / 2018E Debt Adjusted Production/Share Growth BNP…
  14. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 14
    Strengthening Financial Position Senior unsecured debt maturities Next maturity 250 not until 2020 200 Bank credit facility - 500 million CDN Syndicate of 8 Canadian banks Unsecured, financial covenants 150 Drawn 49.2…
  15. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 15
    Strengthening Financial Position Well hedged and diversified 4.00 2018E Revenue Realized Pricing 10% 3.12 3.10 3.14 2.84 2.85 3.00 2.62 /mcf 520 44% 2.00 million 46% 1.00 Natural Gas NGL 0.00 Oil Q1 2017 Q2 2017 Q3…
  16. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 16
    Strengthening Financial Position Propane rich development contributing to growth in NGL revenues NGL Revenue as a % of Total Revenue1 2018E 2016 2018E 2016 4% 12% 21% 20% 30% 40% 50% 6% 134 million 237 million1 59% 23% 54%…
  17. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 17
    Maximizing Adjusted Funds Flow 17 All together better
  18. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 18
    Maximizing Adjusted Funds Flow Shifting development capital to natural gas targets rich in NGLs 25% Current C3+ Production Additions (% of Total Additions) 23% March budget Actuals 21% 19% 17% 15% 13% 11% 9%…
  19. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 19
    Maximizing Adjusted Funds Flow Allocating capital to liquids rich development Redirecting Value Capital: 2017 2018E 2018E Drill Program Zone ( millions)1 Oil 5-8 Cardium 80% Glauconite, West Central 40 bbls/mmcf 67 - 77…
  20. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 20
    Enhancing Asset Quality 20 All together better
  21. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 21
    Enhancing Asset Quality Infrastructure investment at Strachan to enhance growth in funds flow R10 R9 R8 R7 Bonavista Lands 2018 Bonavista Wells Build Land Position and Develop Bonavista Wells Bonavista Compressor Station 94.5…
  22. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 22
    Enhancing Asset Quality Strachan growth in production and netback 30.00 7,000 25.00 6,000 New infrastructure operational in July 5,000 20.00 2018 drilling program 4,000 completely onstream boe/d /boe 15.00…
  23. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 23
    Enhancing Asset Quality Concentrating land position and applying technology to Spirit River at Morningside Alberta R1W5 R28 R27 Added 30 sections of land in the past 18 months Over 300% increase in horizontal meters in inventory…
  24. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 24
    Enhancing Asset Quality Industry leading performance enhancements with ERH drilling at Morningside Falher Drilling Performance with ERH Well Performance with ERH 0 1,000 500 900 1,000 800 1,500 Raw Natural Gas (mmcf) 700…
  25. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 25
    Enhancing Asset Quality Pursuing liquid rich Spirit River Notikewin opportunities in West Central core area Alberta R8 R7W5 6,000 180 5,000 150 Condensate (bbls/d) Raw Gas (mcf/d) 4,000 120 3,000 90 2,000 60 T42 1,000…
  26. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 26
    Enhancing Asset Quality Pursuing liquids rich Mannville in the Deep Basin Alberta R17 R16 R15 R14W5 T57 Rig released first ERH Ellerslie Mcleod well Prolific competitor activity T56 nearby Forecasting 50 bbls/mmcf NGL…
  27. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 27
    Summary We remain firmly on track with our 2018 priorities We will remain flexible aligning financial position with capital allocation excess adjusted funds flow with value creation at current STRENGTHEN commodity prices…
  28. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 28
    Appendix 28 All together better
  29. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 29
    2018 Capital Program Allocating capital to liquids rich development Capital Drills Completions 2018E ( millions) (net) (net) Oil 8 2.5 3.0 40 bbls/mmcf 70 17.3 18.8 < 40 bbls/mmcf 31 3.7 6.3 Support Capital 35 Total 144 23.5…
  30. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 30
    2018 Second Quarter Results Generating excess adjusted funds flow Three months ended June 30, Financial: 2018 2017 % change ( millions except per share amounts) Production revenues 121 141 (14)% Excess Adjusted Funds Flow 66 77…
  31. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 31
    Financial Flexibility Protecting 2018 adjusted funds flow Natural Gas 200 4.00 180 3.60 160 3.20 Hedged Volume (mmcf/d) 140 2.80 120 2.40 Price (/mcf) 100 2.00 80 1.60 60 1.20 40 0.80 20 0.40 0 0.00 Q3'18…
  32. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 32
    2017 Accomplishments Growth in adjusted funds flow, reserves and production Adjusted Funds Flow 2P Reserves Production 325 450 75,000 300 70,000 275 425 ( millions) 65,000 (mmboe) 250 (boe/d) 400 225 60,000…
  33. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 33
    Enhancing Asset Quality in 2017 Enhanced performance through innovation Corporate 2P FD&A Recycle Ratio Well Performance Improvement (3-year weighted average) 800 3.5 700 More wells with greater efficiency 3.0 600 IP12…
  34. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 34
    2017 Reserves F&D costs of 7.60/boe: Reserves Weighting Natural Reserve Category Oil Natural Gas Total Gas Liquids (Mbbls) (Bcf) (Mbbls) (Mboe) Oil and Proved Developed Producing 4,489 642.4 43,267 154,819 Natural Gas…
  35. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 35
    Sustainable Energy Future Sustainable growth includes reducing footprint 1.2 1,200 5.0 9,000 1.8 4.1 8,000 1.6 TOP TIER PIPELINE RECORD 1.1 1,160 4.0 7,000 1.4 3.0 6,000 1.2 1.0 C02e (MM Tonnes) REDUCING EMISSIONS…
  36. September 2018 Corporate Presentation – Bonavista Energy Corp – slide 36
    1500, 525-8th Ave SW Calgary, AB T2P 1G1 403.213.4300 investor_relationsbonavistaenergy.com 39

From the store

Browse maps, data & reports in the Shale Experts store