NuVista Snapshot NuVista Corporate Info TSX Trading Symbol: NVA Market Capitalization: 1.6 billion Basic Shares Outstanding: 225 million Credit Facility Capacity: 450 million Percent Drawn(1): 60% Grande Prairie Net…
Montney In The Right Neighborhood Condensate-Rich Montney Industry Growth Continues Elmworth to Kakwa Montney HZ Activity Update High level of industry activity continues Incoming 900 Industry Montney HZ wells licensed and/or…
The New NuVista Transaction Completely Aligned With Our Core Strategy Pure-Play Montney Company In The Right Neighborhood Balance Sheet Strength Funded Growth Plan with Great Economics Clear Line-of-Sight to 60,000 Boe/d Now…
Funded Growth Plan Accretive Growth at the right pace with Managed Net Debt to Adjusted Funds Flow Production Outlook (MBoe/d) Adjusted Funds Flow Outlook (1)(2) (MM) 100 NVA Proforma YoY PPS Growth 25% NVA Proforma YoY CFPS Growth…
Pipestone Asset Acquisition Strategic Rationale Bigger and Better per Share NuVista adds clears line-of-sight to over 110,000 Boe/d with a well inventory that adds the Best to our Best Increased Condensate Exposure Condensate…
Pipestone Asset Acquisition Summary 625 million acquisition of premium Pipestone assets from Cenovus 35,250 net Montney acres (86% WI), predominately contiguous 62,200 net acres of other Triassic lands 200m thick Montney…
Full-Field Development of Acquired Assets Acquisition Growth Path to 50,000 Boe/d FDP Production Profile FDP Operating Income & Capex Outlook1 60,000 160 750 Facility Capex Well Capex NGL C5+ Gas CGR Acquisition Cost Operating…
Adding More of the Best Acquisition Significantly Bolsters our Top Tier Economic Inventory Half Cycle Rate of Return(1) (%) Undeveloped Montney Hz. 2P Locations 150% 400 Gold Creek Elmworth West Bilbo Bilbo Pipestone 300 100%…
Development Underpinned by Robust Established and Emerging Inventory Montney 'A' Reserves & Resource Montney 'B' Reserves & Resource Montney 'C+D' Reserves & Resource Montney Wells Montney Wells Montney Wells Montney D HZ Wells…
Stratigraphy & Well Placement Reserves Booked in only 1-2 Layers Across our Lands Material Future Upside Remains Pipestone Pipestone 5 % Gas Filled Acquisition area has Porosity four well NVA Pipestone Elmworth developed Gold Creek…
Line-of-Sight now to 110,000+ Boe/d Four Development Blocks Established Pipestone Position Increased Significantly Pipestone Footprint & Targets Piestone Significantly Augmented Gold Creek On Production Four layer development…
Building on Solid Foundation Cash Generation Setting the Stage for Growth to 110,000+ Boe/d Previous Field Target New Field Target Adjusted Funds Flow less Capex at New Field Target Variable Base Adj. Funds Flow (Less Capex) Impact…
Pipestone Montney Acquisition Creates Material Growth Opportunity Pipestone Activity Pipestone Highlights Up to 4 developable layers All have been proven productive on or adjacent to NuVista lands Reservoir significantly…
Pipestone Development Block Rich Type Curves & Well Economics Type Curve Comparison Plot Type Curve Inputs Existing Wells (2207m) Existing Wells Norm. (3000m) Risked Type Curve DCET Capital (MM) 9.3 10 Avg. Frac EUR (Raw Gas)…
Pipestone Development Block Very-Rich Type Curves & Well Economics Type Curve Comparison Plot Type Curve Inputs Existing Wells (2721m) Existing Wells Norm. (3000m) Risked Type Curve DCET Capital (MM) 9.3 10 EUR (Raw Gas) (Bcf)…
Bilbo Development Block Generating Excess Cash & Significant Remaining Inventory Bilbo Activity and Reserves & Resource Bilbo Sales Production 20 Cumulative-to-Date C5+ Sales Gas NGL's C5+ Bbls/MMcf Butane Propane 15 54 5-Well…
Bilbo Development Block First-Year Capital Efficiency & Capital Returned Strong Condensate Yields Driving Cash Generation Bilbo Capital Efficiency per Well(1) Bilbo First Year Capital Returned(2) Capital Efficiency (/Total boe/d)…
Elmworth Development Block Significant New Results Hi-Fi Coming Through Elmworth Activity Elmworth Sales Production 25 Cumulative-to-Date Bbls/MMcf Gold Creek Sales Gas NGL's C5+ 20 10 C5+ 9 Butane Production (Mboed) 15 46…
Elmworth Development Block First-Year Capital Efficiency & Capital Returned Improving Capital Efficiencies Driving Payouts toward One Year Elmworth Capital Efficiency per Well(1) Elmworth First Year Capital Returned(2) Capital…
Gold Creek Development Block New ERH and Hi-Fi Wells off to a Strong Start Activity and Infrastructure Gold Creek Highlights NVA Montney New IP30's Up to 3 developable layers NVA In-Progress Wells Gold Creek Step-outs Condensate…
Multiple Existing and Future Processing Options Cenovus Existing Gas Plants Wembley Part of Acquired Assets NuVista Ownership NuVista Firm Excess Capacity Facility or Firm Capacity In Downstream Available Place Capacity Keyera…
Market Egress Plan Material Capacity Secured Plus Significant Optionality Around Future Additions Towards 110,000 Boe/d 110,000+ Boe/d Montney Production Potential 600 Evaluating Mid-stream 120,000 Options for Early-2020 to 500…
Natural Gas Sales Points Q2 2018 Diversification Counts Q218 Net Revenue by Product & Gas Sales Point(1) Grande Prairie 2% 2% AECO 3% 0% 1.03 2.57 16% 2.49 1.85 Dawn 8% 3.60 69% Malin Chicago 2.51 3.34 Chicago Nat…
Market Egress Plan In-Place Natural Gas Price Diversification NuVista has contracted for firm transportation on export pipelines to diversify pricing exposure Ongoing hedging program and financial basis hedges further diversify price…
Capital Expenditure Highlights Focusing on Near-term Cash Generation while Laying the Foundation for Future Growth 2018 Capex Breakdown 2019 Capex Breakdown 2020 Capex Breakdown 20M 25M 30M 50M 150M 110M 350M 475M…
NuVista Operating Results 2018 Guidance Corporate Production (Boe/d) Actual Production Guidance Wapiti Montney Other Properties (Boe/d) (Boe/d) 40,000 37,435 36,100 36,035 35,000 Q1 '18 36,100 34,500 36,000 29,405 30,000 25,454…
NuVista Looking Forward Flexibility and Strength Growth in a Volatile Environment Pure-Play Montney Company In The Right Neighborhood Balance Sheet Strength Funded Growth Plan with Great Economics Clear Line-of-Sight to 110,000…
Advisory Regarding Oil and Gas Information ADVISORY REGARDING OIL AND GAS INFORMATION The reserves estimates prepared herein with respect to NuVista's assets prior to the Pipestone acquisition have been evaluated by independent…
APPENDIX September 2018 34
Proven Track Record of Execution Improving Efficiency and Well Costs Montney Well Cost (DCET) By Year Average Annual Montney Drilling Curves 14 0 1,000 12 2,000 Measured Depth (m) 10 3,000 8 4,000 (MM) 5,000 6 6,000…
Bilbo Development Block Results To-Date and Type Well Economics Type Curve Comparison Plot Hi-Fi Type Curve Economic Sensitivities Original Historical Average Hi-Fi 10 Payout (Years) WTI Rate (MMcf/d) 55/Bbl 60/Bbl 65/Bbl…
Elmworth Development Block Results To-Date and Type Well Economics Type Curve Comparison Plot Hi-Fi Type Curve Economic Sensitivities Original Historical Average Hi-Fi Payout (Years) 10 WTI 55/Bbl 60/Bbl 65/Bbl Rate (MMcf/d)…
Gold Creek Development Block Results To-Date and Type Well Economics Type Curve Comparison Plot Hi-Fi Type Curve Economic Sensitivities Historical Average ERH ERH + HiFi Payout (Years) 10 WTI 55/Bbl 60/Bbl 65/Bbl Rate (MMcf/d)…
Condensate Pricing Strong Demand and Premium Price for the Long-Term Western Canadian Condensate Pricing Condensate is used in Alberta as a diluent to ship heavy oil on pipelines Condensate in Alberta is typically priced at a…
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