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August 2018 Corporate Presentation – Canbriam Energy

Canbriam Energy · Sep 1, 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. August 2018 Corporate Presentation – Canbriam Energy – slide 1
    CANBRIAM ENERGY INC. CORPORATE PRESENTATION AUGUST 2018
  2. August 2018 Corporate Presentation – Canbriam Energy – slide 2
    Investing in Canbriam Energy Canbriams integrated approach supports low cost Montney development & full cycle value creation Prolific BC Montney asset with low risk development inventory Integrated strategy provides low…
  3. August 2018 Corporate Presentation – Canbriam Energy – slide 3
    Canbriams Altares is located in the prolific B.C. Montney The BC Montney has significant well density and peer activity Canbriam Energy Williston Lake 15 km 4 Canbriam Energy Corporate presentation
  4. August 2018 Corporate Presentation – Canbriam Energy – slide 4
    Positioned within the liquids rich fairway of the BC Montney Large, contiguous land position in Altares & Kobes supports liquids rich natural gas development Dry gas Rich gas Oil window 0 -100 bbl/MM 100+ bbl/MM Strong liquids…
  5. August 2018 Corporate Presentation – Canbriam Energy – slide 5
    Canbriam wells amongst highest deliverability in Northern BC Montney extension 12 & 24 month rates vs. cumulative production highlight over-pressured nature of resource 12 month Rate vs 12 month cumulative production (Q1 2018) 8.0…
  6. August 2018 Corporate Presentation – Canbriam Energy – slide 6
    Stable production history with strong liquids content Canbriams production growth is supported by the phased expansion of the Altares Processing Facility Altares Sales Production history (Mboe/d) 45 Oct 2015: Phase 2 of Altares…
  7. August 2018 Corporate Presentation – Canbriam Energy – slide 7
    Significant reserves growth with high liquids content Canbriams 2P bookings reflect consistent well performance 2P Reserve growth (MMboe) 2P F&D costs & recycle ratio(1) 25 4.0 67 3.3 3.2 3.5 63 61 2.9 20 2.7 3.0 2.3 F&D…
  8. August 2018 Corporate Presentation – Canbriam Energy – slide 8
    Increased drilling & completion efficiency in over-pressured Montney Canbriams Altares drilling requires underbalanced drilling with mud weights exceeding 1,800 kg/m3 Unique challenges in over-pressured Doig & Montney formations…
  9. August 2018 Corporate Presentation – Canbriam Energy – slide 9
    Altares Processing Facility: scalable to 400 MMcf/d Canbriam owns & operates all of its processing infrastructure Water treatment & recycling hub Commissioned March 2015 Phase 4: 120 MMcf/d Sanctioning to be determined Phase…
  10. August 2018 Corporate Presentation – Canbriam Energy – slide 10
    Infrastructure strategy supports large scale development Canbriam owns & operates all of its processing infrastructure Altares & Kobes infrastructure & pad locations 100% owned & operated infrastructure: Altares Processing Facility…
  11. August 2018 Corporate Presentation – Canbriam Energy – slide 11
    Competitively advantaged in water sourcing, handling & disposal Integrated water strategy eliminates need to truck water Sourcing & distribution 80% 20 year permit (2011) to access 10,000 m3/day of fresh water from Williston Lake…
  12. August 2018 Corporate Presentation – Canbriam Energy – slide 12
    Marketing & transportation plan supports long term development Sufficient takeaway capacity to support near term requirements Enbridge T North: 228 MMcf/d firm capacity Enbridge T North Incremental 20 MMcf/d added effective April…
  13. August 2018 Corporate Presentation – Canbriam Energy – slide 13
    Northern B.C. Natural gas pipeline and takeaway capacity Ongoing buildout of takeaway capacity expected to positively impact WCSB gas prices Current Potential Expected Pipeline capacity expansion Jedney timing(1) (Bcf/d) (Bcf/d)…
  14. August 2018 Corporate Presentation – Canbriam Energy – slide 14
    Key elements to Canbriams financial strategy Disciplined approach to financial management Use appropriate debt sources to Flexibility to adjust spending on a ensure liquidity quarterly basis in context of cash flow, economics and…
  15. August 2018 Corporate Presentation – Canbriam Energy – slide 15
    Price realizations benefit from liquids content, hedging & heat content Disciplined risk management & active hedging program have supported realized prices Revenue by product: 2015 Q2 2018 (/boe) High heat content natural gas(1) 30.00…
  16. August 2018 Corporate Presentation – Canbriam Energy – slide 16
    Managing Station 2 pricing Active hedging, physical sales basis contracts & high heat content have optimized natural gas pricing Natural gas volumes hedged(2) (2018E) Liquids hedges (at June 30, 2018) 100% 5,000 80 68.32 68.60 71.08…
  17. August 2018 Corporate Presentation – Canbriam Energy – slide 17
    Diversifying sales points through physical sales contracts Disciplined approach to risk management has helped optimize natural gas pricing Physical delivery sales contracts (Gj/d) Regional price exposure 2018E SoCal SoCal Physical…
  18. August 2018 Corporate Presentation – Canbriam Energy – slide 18
    Low cost structure supports full cycle profitability Canbriams low cost structure drives strong play economics despite low commodity prices Canbriam cost structure vs. price realizations (2014 Q2 2018) 40 36.51 35 35.88 30…
  19. August 2018 Corporate Presentation – Canbriam Energy – slide 19
    Canbriam has demonstrated full cycle value Canbriams low cost structure & prudent risk management have supported full cycle returns Low cost business model supports value creation Return on capital employed(1) Operational…
  20. August 2018 Corporate Presentation – Canbriam Energy – slide 20
    Investing in Canbriam Energy Canbriams integrated approach supports low cost Montney development & full cycle value creation 100% working interest and operatorship in core Altares & Kobes Montney lands Prolific Montney resource…
  21. August 2018 Corporate Presentation – Canbriam Energy – slide 21
    SUPPLEMENTAL INFORMATION 22 Canbriam Energy Corporate presentation
  22. August 2018 Corporate Presentation – Canbriam Energy – slide 22
    Canbriam has the foundation for long term value creation Our approach is defined by three key elements Resource Innovation Collaboration Montney is a world class reservoir Canbriams success is tied to early Team approach fosters…
  23. August 2018 Corporate Presentation – Canbriam Energy – slide 23
    Canbriam Energy leadership Team built specifically for exploration & development of unconventional gas resource Paul Myers Founder and CEO since company inception in 2008 President and Chief Diverse 30 year career in various…
  24. August 2018 Corporate Presentation – Canbriam Energy – slide 24
    Canadian & select U.S. natural gas pipeline infrastructure 1. Alliance Pipeline 2. TransCanada Foothills System 3. TransCanada Mainline 4. Westcoast Pipeline 5. NGTL System 5 6. North Montney mainline 7. Iroquois 6 8. Nexus 9.…
  25. August 2018 Corporate Presentation – Canbriam Energy – slide 25
    Over-pressured Altares Montney supports high well deliverability Altares Montney demonstrates anomalous over-pressure Canbriam pressure gradient (kPa/meter) Up to 2 times over pressured within Altares Montney Downhole choke strategy…
  26. August 2018 Corporate Presentation – Canbriam Energy – slide 26
    Illustrative type curve economics Main Fault Block type well statistics represent the current planning basis for Canbriam Single well statistics Main Fault Block BT IRR (%) 140% Well properties Upper Montney Lower Montney 120%…
  27. August 2018 Corporate Presentation – Canbriam Energy – slide 27
    Improving decline rates through downhole choke management Sustaining capital requirement is 90 million annually to maintain 40,000 boe/d of production capacity 45,000 Production by well vintage 40,000 2018 H1 35,000 2017 2016 25%…
  28. August 2018 Corporate Presentation – Canbriam Energy – slide 28
    Optimizing well performance through choke management strategy Canbriams use of downhole chokes optimizes its over-pressured reservoir Altares c-B27-H well - Upper Montney Advantages of downhole chokes: 15.0 30,000 Minimizes 1st…
  29. August 2018 Corporate Presentation – Canbriam Energy – slide 29
    Development plan includes five commercial intervals Three Upper Montney & two Lower Montney layers at 300 meter spacing 7 Tested zones C5 Commercial Upper Intervals1 & 2 C4 C2 Commercial Interval 3 T1 300 m…
  30. August 2018 Corporate Presentation – Canbriam Energy – slide 30
    Efficiency gains tied to improved drilling & completion performance Cost efficiency tied to sliding sleeve technology, less intense completions & improved drill times Drilling, completion & equipment / tie-in costs by well Current…
  31. August 2018 Corporate Presentation – Canbriam Energy – slide 31
    Evolution of completion optimization Completion efficiency improving through technology advancement & integrated technical approach Initial development Development phase Current design (2009 2012) (2013 2015) (2016 Q1 2018) Plug &…
  32. August 2018 Corporate Presentation – Canbriam Energy – slide 32
    Stable production history with strong liquids content Canbriams production growth reflects addition of phases 1 & 2 of the Altares Processing Facility in 2015 250 Natural gas production Inlet Sep 40,000 Boe/d nameplate capacity 200…
  33. August 2018 Corporate Presentation – Canbriam Energy – slide 33
    Historical financial summary Financial performance reflects improving cost structure and production growth Average production 39.7 40.4 Adjusted EBITDA(1) (Mboe/d) (C millions) 144 137 26.6 26.9 17.9 83 88 81 66 7.8 9.6…
  34. August 2018 Corporate Presentation – Canbriam Energy – slide 34
    Historical netbacks Canbriams low cash costs, liquids content and prudent risk management drive strong operating netbacks 2018 2017 2016 2015 Benchmark prices Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Henry Hub (US/MMbtu) 2.80 2.98…
  35. August 2018 Corporate Presentation – Canbriam Energy – slide 35
    Supplemental reserves information 2017 Independent reserves evaluation completed by McDaniel & Associates Reserves Reconciliation(1) Proved Probable Proved + Probable Natural Gas NGLs Total Natural Gas NGLs Total Natural Gas NGLs…
  36. August 2018 Corporate Presentation – Canbriam Energy – slide 36
    Canbriam Energy Inc. 2100, 215 2nd Street SW Calgary, AB Canada T2P 1M4 Tel: 403.269.2874 www.canbriam.com Paul Myers President & Chief Executive Officer 403.718.8550 pmyerscanbriam.com Rob Froese Chief Financial Officer 403.718.3601…

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