Obsidian Energy Corporate Presentation September 2018
Obsidian Energy Corporate Profile Peace River Corporate Metrics Manufactured Cold Flow, High Rate, Low Share Price C/share 1.28 Cost with Multiple Egress Options August 31, 2018 4,834 boe/d Q2 2018 OBE-TSX Daily Volume MM 0.6 Net…
Why Obsidian Energy, Why Now Incremental 50 million Willesden Green Setting up for development program adds significant growth, backed by production and cash flow entering 2019 long term inventory Growth story that doesnt fizzle out…
2019: An Inflection Point in the Business 2019/2018 CFPS growth versus 19 EV-DACF at DSI price assumptions* 100% Median 80% 19/18 CFPS growth (%) OBE 60% The analyst community recognizes OBEs cash flow growth…
The Largest Land Holder in the Cardium Play Fairway R10W5 INDEX MAP Significant Inventory Upside Reserve book includes 129 highly confident locations Pembina Booked Locations 87 Additional Inventory 363 Total Inventory 450…
Why Willesden Green, Why Now The Cardium is a premium light oil play and we hold a material position Industry is improving with longer laterals and increased frac intensity OBE outperformed the industry average oil production per well…
Near term inventory Willesden Green OBE well Industry well OBE unit land OBE Cardium WI land Results Command 3 kms 2 miles More Capital The average lateral length of H2 program is approximately 1.5 miles per well, and…
Second Half Willesden Green Program is on Track Total of 15 wells across six pads Crimson Lake 08-09 Pad (3 Wells) 2 wells included within original guidance 13 incremental wells as part of capital acceleration H2 2018 H1 2018 Wells…
Crimson Lake Reservoir Schematic W E Illustrative/Approximate well path Productive Crimson well results are driven by targeting quality reservoir 1 West of the North Saskatchewan River Reservoir not effectively swept by…
Obsidian Energy Has CRIMSON LAKE NEAR-TERM FOCUS AREA Distinctive Running Room Crimson Lake Halo Line of sight to 80 locations, focused in Willesden Green Both inside unit H1 2018 boundaries and in the Development Halo…
Obsidian Energys Dominant Cardium Position The largest Cardium land holder with significant running room 700 location inventory with 100MMboe of 2P Reserves Large size of the prize with the right geology for meaningful light oil…
2018 Budget & Asset Details ObsidianEnergy.com TSX/NYSE: OBE
Fast Tracking the Cardium Priority 1: Intensify short cycle Willesden Green Cardium drilling PROVIDING ENABLED BY INVESTORS WITH Strong results A focused that demand capital more capital allocation model Deliver on Cardium focused…
Focused 2018 Plan Predictable & Liquids Weighted Growth Profile Development Capital is 72% of Total Expenditures 2018 Production (boe/d) 2018 Total Expenditures (MM) 29,000 30,000 boe per day 190 million 32,000 Regulatory Base…
Portfolio Optionality on Display Increased Cardium Capital Employing a quicker payout program that balances primary drilling with targeted by 50MM (13 wells) low capital integrated waterflood opportunities 2018 Development…
R8W5 Deep Basin Results OBE land 100/02-03-044-09W5 OBE operated Cardium unit On Production: 10/26/2017 Initial Rate: 3.9 MMCFD are Liquids Rich Falher B 100/14-30-043-07W5 On Production: 8/30/2017 Trend Initial Rate:…
R15W5 Strong Results INDEX MAP Across Peace River OBE land Acquired land in 2017 Harmon Acreage PROP Valley Large contiguous crude oil resource position amenable to conventional cold-flow production Harmon Seal…
Appendix ObsidianEnergy.com TSX/NYSE: OBE
2017 Reserves Highlight Revitalized Operational Delivery Reserve book reflects a conservative future NAV Valuation (/Share) development profile centered around a growing PDP 2P quantum of low F&D waterflood additions 2P NPV10 (BN)…
Reducing Liability Through Efficient Asset Retirement Program based abandonment Working with AER as part of the Portfolio Management Pilot on full field abandonment to realize efficiencies and further reduce decommissioning…
End Notes All slides should be read in conjunction with Definitions and Industry Terms, Non-GAAP Measure Advisory, Oil and Gas Disclosures Advisory and Forward-Looking Advisory Slide 3. Obsidian Energy Corporate Profile Slide 21.…
Non-GAAP Measures Advisory Non-GAAP measures advisory In this presentation, we refer to certain financial measures that are not determined in accordance with IFRS. These measures as presented do not have any standardized meaning…
Reserves Disclosure and Definitions Unless otherwise noted, any reference to reserves in this presentation are based on the report (Sproule Report) prepared by Sproule Associates Limited dated January 29, 2018 where they evaluated one…
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