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

September 2018 Corporate Presentation – Enerplus Corp

Enerplus Corp · Sep 18, 2018 · 31 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 – Enerplus Corp – slide 1
    Corporate Presentation September 2018
  2. September 2018 Corporate Presentation – Enerplus Corp – slide 2
    Enerplus Overview TSX, NYSE ERF Market Cap C4.1 billion Canadian Oil Waterfloods Net Debt(1) C0.4 billion Production(2): 9,770 BOE/d Enterprise Value C4.5 billion Key Messages Williston Basin Robust light oil growth out of North…
  3. September 2018 Corporate Presentation – Enerplus Corp – slide 3
    Q2 2018 - Highlights Production of 92,883 BOE/d Growth On Liquids production up 21% Q-o-Q to 50,050 bbls/d Track 33% production growth in North Dakota Q-o-Q On track for 20% company liquids production growth in 2018 Adjusted funds…
  4. September 2018 Corporate Presentation – Enerplus Corp – slide 4
    Strong Returns, Free Cash Flow and Competitive Oil Growth Return on Capital Employed Free Cash Flow Yield Liquids Production Growth 2018E 2018E 2018E / 2017 1 1 1 ERF 17% ERF 4% ERF 21% 2 2 2 3 3 3 4 4 4 5 5 5 6 6 6 7 7 7 8 8 8…
  5. September 2018 Corporate Presentation – Enerplus Corp – slide 5
    Executing Profitable Growth Driving High-Return Crude Oil Production Growth Plan grounded in returns Liquids Production Growth based capital allocation Mbbl/day 20% 60 CAGR(1) Underpinned by high-return 50 drilling inventory in…
  6. September 2018 Corporate Presentation – Enerplus Corp – slide 6
    2018 Capital Allocation Disciplined Focus on Value and Returns Capital program and dividends 2018E Capital Allocation(1) funded within cash flow C585 Million At US50-55/bbl WTI and US3.00/Mcf NYMEX 5% C100MM in excess cash flow…
  7. September 2018 Corporate Presentation – Enerplus Corp – slide 7
    Cash Margin Expansion Lower Costs and Tighter Differentials Driving Margin Expansion Strong cost focus and divestment of higher cost assets driving cost structure reductions Narrowing Bakken and Marcellus differentials supporting…
  8. September 2018 Corporate Presentation – Enerplus Corp – slide 8
    Cash Margin Expansion Significant Improvement Driven by Structural Changes Structural improvements to Enerplus cost structure and pricing realizations have helped increase its unhedged cash margin(1) by 16/BOE Liquids production…
  9. September 2018 Corporate Presentation – Enerplus Corp – slide 9
    Balance Sheet & Liquidity Position Significant Financial Strength Balance Sheet & Liquidity Position (Jun 30, 2018) Enerplus strong balance sheet C provides meaningful financial Cash (MM) 360 flexibility and supports the Senior Notes…
  10. September 2018 Corporate Presentation – Enerplus Corp – slide 10
    Balance Sheet Strength Financial Position Among the Strongest In Peer Group Enerplus is committed to maintaining a strong balance sheet Net Debt / 2018E Cash Flow Source: BMO comps at strip pricing July 27, 2018(1) 8.0x 7.0x 6.0x…
  11. September 2018 Corporate Presentation – Enerplus Corp – slide 11
    Hedging Summary Protecting Cash Flow Crude Oil Hedging Summary(1)(2) Natural Gas Hedging Summary(1)(2) bbls/day; WTI US/bbl Mcf/day; NYMEX US/Mcf % HEDGED(3) 63% 69% 60% 70% 73% 73% 42% % HEDGED(3) 21% 16% 25,000 80,000…
  12. September 2018 Corporate Presentation – Enerplus Corp – slide 12
    Reserves Strong Organic Replacement at Competitive Costs Replaced 189% of 2P Organic Reserves Replacement(1) 2P Finding & Development Costs (C/boe)(2) 2017 production 189% 414% in North Dakota 9.68 8.44 132% in Marcellus 126%…
  13. September 2018 Corporate Presentation – Enerplus Corp – slide 13
    Williston Basin North Dakota & Montana - Light Oil Assets Fort Berthold, ND Acreage concentrated in the core Low well density vs surrounding acreage Two operated rigs in 2018 Q2 2018 production: 40,479 BOE/d Fort Berthold…
  14. September 2018 Corporate Presentation – Enerplus Corp – slide 14
    Fort Berthold, North Dakota Bakken / Three Forks Tier 1 Acreage Position Key Details Net Acreage (operated) 65,600 acres Average WI (%) 84% Q2 2018 Production (BOE/day) 40,479 % Crude Oil, NGL & Gas (at Q2) 82%, 9%, 9% 2P Reserves…
  15. September 2018 Corporate Presentation – Enerplus Corp – slide 15
    Fort Berthold Efficiencies Focused on Continuous Improvement Continued improvement in drilling efficiencies and more pad development is driving 30% increase in wells drilled year-over-year Meaningful production growth forecast in…
  16. September 2018 Corporate Presentation – Enerplus Corp – slide 16
    Enerplus Completion Evolution Focus on Continuous Improvement Driving Modifications to Completions Design Aiming to maximize economics through: Achieving similar well performance at lower proppant intensity (and lower cost) Improving…
  17. September 2018 Corporate Presentation – Enerplus Corp – slide 17
    Top Quartile Well Productivity Core Acreage and Completion Design Delivering Top Quartile Performance Cumulative Oil Production per 1,000 Lateral Feet(1)(2) Barrels of oil, North Dakota wells since 2014 through May 2018 80,000 70,000…
  18. September 2018 Corporate Presentation – Enerplus Corp – slide 18
    Fort Berthold Significant Running Room Low existing well density Large remaining opportunity set is well defined Gross Locations(1) Wells Drilled & Future Drilling Locations 800 10 wells/ DSU 700 600 7 wells/ DSU 500 500 400 4…
  19. September 2018 Corporate Presentation – Enerplus Corp – slide 19
    Industry Bakken Oil Production & Takeaway Capacity Pipeline takeaway and refining capacity estimated to exceed existing basin production (net of current crude by rail volumes) by 300,000 bbls/day Bakken Crude Oil Production and…
  20. September 2018 Corporate Presentation – Enerplus Corp – slide 20
    Enerplus Bakken Realized Crude Oil Price Bakken differentials have significantly strengthened with improved egress out of basin Enerplus is guiding to a 2018 realized Bakken differential of US(3.50)/bbl to WTI Enerplus Bakken Crude…
  21. September 2018 Corporate Presentation – Enerplus Corp – slide 21
    Marcellus Core Acreage Position in NE Pennsylvania Key Details Net Acreage 36,200 acres Average WI (%) 11% Q2 2018 Production (MMcf/day) 202 % Natural Gas (at Q1) 100% 2P Reserves (Bcf)(1) 918 Contingent Resources (Bcf)(2) 738…
  22. September 2018 Corporate Presentation – Enerplus Corp – slide 22
    Marcellus Well Results Continued Strong Performance Well performance continuing to track at or above type curve expectations Average Cumulative Gas Production(1) Bcf 10 Lateral Lat. length Length…
  23. September 2018 Corporate Presentation – Enerplus Corp – slide 23
    Marcellus Basis Improvement to Drive an Increase in Free Cash Flow Low cost operations consistently delivering free cash flow, with further margin expansion expected in 2018 Marcellus Capital Spending & Marcellus Cash Margin Expansion…
  24. September 2018 Corporate Presentation – Enerplus Corp – slide 24
    Marcellus/Utica Pipeline Projects Meaningful Expansion Projects Will Debottleneck the Region Combined 6.2 Bcf/d of additional pipeline projects expected in-service across Northeast Pennsylvania and Southwest Marcellus/Utica during Q2…
  25. September 2018 Corporate Presentation – Enerplus Corp – slide 25
    Marcellus Marketing Portfolio Marcellus Marketing Portfolio Expected Pricing Exposure MMcf/d Based on Q2 2018 production volumes 250 TZ6 Non-NY Gulf Coast Thousands ERF Q2 2018 Marcellus Production Other Leidy 200 100%…
  26. September 2018 Corporate Presentation – Enerplus Corp – slide 26
    Canadian Oil Waterflood Portfolio Large Oil in Place, Low Decline Production High netback, free cash flow generating assets Activity focused on waterflood optimization and expansion, and ongoing polymer flooding Discovered OOIP(1)…
  27. September 2018 Corporate Presentation – Enerplus Corp – slide 27
    Canadian Oil Waterflood Portfolio High-Margin, Stable Production Free Cash Flow Generation - Waterflood Portfolio(1)(2) Portfolio optimized to focus C Million, Cumulative Free Cash Flow from Retained Assets (Unhedged) on highest…
  28. September 2018 Corporate Presentation – Enerplus Corp – slide 28
    Why Invest in Enerplus Key Messages Robust light oil growth out of North Dakota Differentiated margin expansion Fully funded plan; free cash flow under strip prices Balance sheet among the strongest in peer group…
  29. September 2018 Corporate Presentation – Enerplus Corp – slide 29
    Supplemental Information
  30. September 2018 Corporate Presentation – Enerplus Corp – slide 30
    2018 Guidance(1) 2018 Capital Spending C585 million (from C535 - 585 million) Annual Average Production 91,000 93,000 BOE/d (from 86,000 - 91,000 BOE/d) Annual Average Crude Oil & NGL Production 49,000 50,000 bbls/d (from 46,000 -…
  31. September 2018 Corporate Presentation – Enerplus Corp – slide 31
    Reducing Leverage and Abandonment Liabilities Net debt reduced 75% since YE 2015(1) Senior notes outstanding: 672 MM(2) and cash of 360 MM Divestment activity has reduced ARO by 58% since YE 2014 Debt, net of cash (1)(2) Asset…

From the store

Browse maps, data & reports in the Shale Experts store