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3Q 2018 Earnings Presentation – Pengrowth Energy Corp

Pengrowth Energy Corp · Nov 8, 2018 · 14 slides

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Slides

  1. 3Q 2018 Earnings Presentation – Pengrowth Energy Corp – slide 1
    Building Momentum TSX:PGF Q3 2018 Results November 8, 2018
  2. 3Q 2018 Earnings Presentation – Pengrowth Energy Corp – slide 2
    Sequential Q3 2018 ADJUSTED FUNDS FLOW1 GROW Waterfall Chart 5.5 MILLION SINCE Q2 2018 Sequential Analysis Q2 2018 vs. Q3 2018 Increased volumes lead to 1.1 million improvement Improved pricing leads to 5.8 million improvement WTI…
  3. 3Q 2018 Earnings Presentation – Pengrowth Energy Corp – slide 3
    DEFERRED CAPITAL SPENDING TO PAY DOWN DEBT AND 2019 Capital Plan SYNCHRONIZE PRODUCTION RAMP WITH PIPELINES 45 Million 2019 capital plan will maintain current production profile Infills on pad D02; New well pairs on D02; and…
  4. 3Q 2018 Earnings Presentation – Pengrowth Energy Corp – slide 4
    INCREMENTAL GROWTH PLAN REMAINS THE Growth Plan SAME: REACH 35,000 BBL/D BY END OF 2023 2019 Capital Plan Co-Generation Deploy Proven Focused on Lindbergh Expansion Technologies 45M Explore third party alternatives to Co-injection…
  5. 3Q 2018 Earnings Presentation – Pengrowth Energy Corp – slide 5
    PROVED & PROBABLE RESERVES INCREASE 1%; Reserve Update NPV10 INCREASES 20% TO 2.6 BILLION Reserves (MBOE) Sept 2018 Dec 2017 Change % Change 2P Reserves increase Proved Producing 30,513 33,300 (2,787) (8%) Total Proved 196,126 192,700…
  6. 3Q 2018 Earnings Presentation – Pengrowth Energy Corp – slide 6
    DEBT PAID DOWN WITH CASH FROM OPERATING Balance Sheet ACTIVITIES AND DEFERRED PROCEEDS ON DISPOSITIONS CA672 Million CA330 Million CA515 Million Total Debt (Before Working Capital) Credit Facility Term note maturities Un-Drawn Credit…
  7. 3Q 2018 Earnings Presentation – Pengrowth Energy Corp – slide 7
    2018-19 CAPITAL PROGRAMS TO GROW Guidance LINDBERGH PRODUCTION IN BITE SIZE PIECES 20181 2019 2020 Lindbergh Production (average bbl/d) 16,500 17,750 - 18,250 19,500 to 20,000 Corporate Production (average boe/d) 22,500 to 23,500…
  8. 3Q 2018 Earnings Presentation – Pengrowth Energy Corp – slide 8
    Lindbergh SAGD TSX:PGF
  9. 3Q 2018 Earnings Presentation – Pengrowth Energy Corp – slide 9
    LINDBERGH PRODUCTION AVERAGES 18,350 BBL/D IN OCTOBER Lindbergh WITH FIVE OUT OF EIGHT INFILL WELLS ON PRODUCTION Operations Update 2018 Infill well progress: Drilling completed in Q2 2018; 4 on production in third quarter; The 5th…
  10. 3Q 2018 Earnings Presentation – Pengrowth Energy Corp – slide 10
    INCREMENTAL PRODUCTION GROWTH LEADS TO Lindbergh SAGD AVERAGE PRODUCTION OF 18,350 BBL/D IN OCTOBER Scheduled plant turnarounds 20,000 18,000 12.0 Bitumen Production (bbl/d) 16,000 Steam-Oil Ratio (SOR) 14,000 9.0 12,000…
  11. 3Q 2018 Earnings Presentation – Pengrowth Energy Corp – slide 11
    59% OF PRODUCTION APPORTIONMENT PROTECTED IN Market Access 2019 WITH ADDITION OF 5,000 BBL/D OF PROTECTION Fixed WCS Price Differential Physical Contracts for Diluted Bitumen Lindbergh Year: 2018 2019 Estimated Production…
  12. 3Q 2018 Earnings Presentation – Pengrowth Energy Corp – slide 12
    IN Q3 16,408 BBL/D OF LINDBERGH BITUMEN WAS SOLD AS Lindbergh Netbacks 22,702 BBL/D OF DILUTED BITUMEN AT HARDISTY fgh fgh Q3 2018 Q2 2018 Diluent as % of Bitumen 38.4% Diluted Bitumen Revenue (2) 68.06 65.16 Diluent as % of…
  13. 3Q 2018 Earnings Presentation – Pengrowth Energy Corp – slide 13
    Lindbergh Netbacks GROWING OPERATING NETBACKS* (BEFORE REALIZED COMMODITY RISK MANAGEMENT) 60.00 50.00 OPERATING NETBACK 40.00 ( PER BBL) 30.00 20.00 38.88 34.20 22.69 24.77 24.89 26.16 10.00 21.72 1 19.67 16.93…
  14. 3Q 2018 Earnings Presentation – Pengrowth Energy Corp – slide 14
    Thank you TSX:PGF

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