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September 2018 Corporate Presentation – Pengrowth Energy Corp

Pengrowth Energy Corp · Sep 11, 2018 · 21 slides

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Slides

  1. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 1
    Driving New Growth TSX:PGF Peters & Co Presentation September 11, 2018
  2. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 2
    Who are we A FOCUSED HEAVY OIL RESOURCE DEVELOPER Lindbergh Heavy Oil: A long-life, low-decline asset Groundbirch Montney natural gas offsets major cost input Scalable, capital-efficient growth plan Transition to internal…
  3. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 3
    Focused Assets TWO LONG-LIFE LOW-DECLINE ASSETS Lindbergh Heavy Oil 746 Billion cf 50 Year Reserve Life 317 Groundbirch Natural Gas Million bbl Proved & Probable Reserves (Company Interest) 26 Year Reserve Life Proved &…
  4. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 4
    CRUDE PRODUCTION HEDGED AT APPROXIMATELY Hurt by Hedging WTI US50/BBL UNTIL END OF DECEMBER 2018 10,000 BBL/Day Crude production currently hedged at around WTI US50/BBL Negatively impacting 2018 financial results Forward Contract…
  5. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 5
    BASE PLAN EXPECTED TO GROW OIL PRODUCTION AT Growth Plan LINDBERGH TO MORE THAN 20,000 BBL/D BY Q4 2020 2019 Capital Plan Co-Generation Deploy Proven Focused on Lindbergh Expansion Technologies 45 to 125 Million Explore third party…
  6. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 6
    BASE PLAN OF 45 MILLION THAT CAN BE 2019 Capital Plan EXPANDED TO 125 MILLION 45 Million 125 Million Base 2019 capital plan will Purchase of long-lead items define 2020 production for production expansion in 2021 Expansion of…
  7. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 7
    FREE CASH FLOW GENERATION EXPECTED TO ALLOW Self Funded Growth PENGROWTH TO MOVE TO SELF-FUNDED GROWTH Lindbergh Production Scenarios *Free Cash Flow Before CapEx at Various WTI Estimated production with 45M and 125M 2019 capital…
  8. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 8
    CA1.1 BILLION IN DEBT PAID DOWN IN 2017 - Balance Sheet CONTINUED FOCUS ON COSTS AND DEBT CA702 Million CA330 Million CA523 Million Total Debt Credit Facility Term note maturities Un-Drawn Credit 151 Facility 250 179 200 702M…
  9. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 9
    CAN REDUCE STEAM REQUIREMENTS, WATER Technology USE AND CARBON EMISSION INTENSITY Non-Condensable Gas Solvents NCG application approval received June 1, 2018 Currently collaborating with the University of Calgary using Gas…
  10. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 10
    END USERS WHO DESIRE LESS VISCOUS, LOWER SULFUR Market Access HEAVY OIL OFFER APPORTIONMENT PROTECTION Lindbergh Heavy Oil Apportionment Protection: 39% of Lindberghs 2019 forecast production is apportionment protected at a…
  11. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 11
    2018-19 CAPITAL PROGRAMS TO GROW Guidance LINDBERGH PRODUCTION IN BITE SIZE PIECES 2018 2019 2020 Lindbergh Production (average bbl/d) 16,500 17,500 to 18,000 19,500 to 20,000 Corporate Production (average boe/d) 22,500 to 23,500…
  12. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 12
    Lindbergh SAGD TSX:PGF
  13. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 13
    Lindbergh LONG-LIFE WORLD CLASS OIL ASSET 317 Million bbl Proved & Probable Reserves (Company Interest) 26 Year Reserve Life US refineries prefer our heavy oil Mexican and Venezuelan heavy oils are declining rapidly TSX:PGF 15
  14. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 14
    2018 INFILL WELLS: 3 JUST COMING ON PRODUCTION, 2018 Capital Plan 5 CURRENTLY BEING STEAM STIMULATED 45 million Investment 2018 Infill well progress: Drilled in Q2 2018; 3 just coming on production; 5 currently being steam…
  15. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 15
    Lindbergh SAGD AN INCREASING PRODUCTION PROFILE 18,000 Scheduled plant turnaround 12.0 16,000 Bitumen Production (bbl/d) 14,000 Steam-Oil Ratio (SOR) 9.0 12,000 10,000 8,000 6.0 6,000 4,000 3.0 2,000 0 0.0…
  16. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 16
    STRONG OPERATING NETBACKS* Lindbergh (BEFORE REALIZED COMMODITY RISK MANAGEMENT) 60.00 OPERATING NETBACK 50.00 ( PER BBL) 40.00 30.00 20.00 34.20 22.69 24.77 24.89 26.16 10.00 21.72 1 19.67 16.93 11.48 0.00 3.05…
  17. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 17
    BASE PLAN OF 45 MILLION CAN BE EXPANDED 2019 Capital Plan TO 125 MILLION DEPENDING ON OIL PRICE 45 to 125 million plan 45 million base plan: Infills on pads D01 and D02; and Debottlenecking and Maintenance. 125 million expanded plan:…
  18. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 18
    WHAT DOES IT COST TO ADD AN ADDITIONAL Capital Efficiency BARREL PER DAY TO PRODUCTION Incremental Growth Large Scale Growth Small additions in production without additional Additional production that requires investment in water…
  19. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 19
    Groundbirch Gas 746 Billion cf High Performance Montney Asset Proved & Probable Reserves Hedge and Optionality (Company Interest) 50 Year Reserve Life at current production TSX:PGF
  20. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 20
    EMERGING AS A HIGH PERFORMANCE Groundbirch MONTNEY ASSET Current development plan 9 20 Field initially produced at a combined rate of 28 MMcf/d. MMcf/ MMcf/ d d Due to current weakness in natural gas prices, Pengrowth has elected…
  21. September 2018 Corporate Presentation – Pengrowth Energy Corp – slide 21
    MARKET INFORMATION AS AT CLOSE OF Summary SEPTEMBER 4, 2018 Capitalization Trading Symbols TSX: PGF Share Price 0.90 52 Week Low-High 0.71 - 1.53 Investor Relations: Shares Outstanding 556 million 1-855-336-8814 90D Average…

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