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December 2018 Investor Presentation – Advantage Oil & Gas Ltd.

Advantage Oil & Gas Ltd. · Dec 21, 2018 · 24 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. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 1
    Record Q3 2018 Production & Three Year Plan to Accelerate Pipestone Condensate Development Investor Presentation TSX: AAV December 2018
  2. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 2
    ADVANTAGE AT A GLANCE TSX 52week trading range 1.82 5.73 Shares Outstanding (basic) 186 million Market Capitalization 0.4 billion Enterprise Value 0.6 billion Estimated Dec. 31, 2018 (1) Advantage Montney Assets Bank Debt (68%…
  3. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 3
    20192021 DEVELOPMENT PLAN FURTHER STRENGTHENS BUSINESS MODEL Solid Today Solid Tomorrow Free Cash Generating Asset Reinvest to Diversify & Enhance Free Cash Generation Ultralow Costs Maintain & Strengthen Netbacks Financial…
  4. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 4
    20192021 DEVELOPMENT PLAN INTERNALLYFUNDED GROWTH (1) Condensate & Light Oil Focused Fully funded from cash provided by 6 miles Progress operating activities & credit facilities 690 million capital investment Drill 96 Montney…
  5. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 5
    20192021 DEVELOPMENT PLAN (1) Guidance and Estimates (2)(3) 2019 Guidance 2020 Estimate 2021 Estimate Average production (boe/day) 43,500 46,500 47,850 52,300 Gas production (mmcf/d) 244 to 260 245 246 Liquids production (bbls/d)…
  6. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 6
    STRENGTHENING FOUNDATION 2021 HIGHLIGHTS (1) 700% Increase in Liquids Production(3) 14,000 Bbls/d 2021 Exit Liquids Rate 25% Increase in Total Annual Production to 52,330 boe/d(3) 82% Premium C5+/Light Oil content of liquids…
  7. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 7
    THREE YEAR DEVELOPMENT PLAN STRENGTHENING FOUNDATION (1) Total Production (boe/d) Liquids Production and 14,000 bbls/d Composition (bbls/d) Exit 9% 52,300 11,370 6% 47,850 45,000 62% 22% 7% 15% 7,000 125% 81% C5+ 3,100…
  8. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 8
    THREE YEAR DEVELOPMENT PLAN ADJUSTED FUNDS FLOW (1) Adjusted Funds Flow (2) and Adjusted Funds Flow (2) per share Net Capital Expenditures (2) 34% 1.67 ( millions) 315 26% 1.25 225 235 225 240 185 0.99 2019E 2020E 2021E…
  9. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 9
    FINANCIALLY ROBUST AT LOW PRICES (1) GAS PRICE SENSITIVITY (3) OIL PRICE SENSITIVITY (3) AECO 1.50/mcf AECO 1.75/mcf AECO 2.00/mcf WTI US55.00/bbl WTI US65.00/bbl WTI US75.00/bbl 1.70 1.96 Adjusted Funds Flow (2) per share 1.64…
  10. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 10
    NET CAPITAL EXPENDITURES FOCUSED ON DRILLING (1)(2) 2019 Capital By Area 20192021 Total Capital By Area Other Other Progress 6% 7% 225 Progress 6% 690 million 4% million Glacier Wembley Glacier 32% 24% 49% Wembley 47%…
  11. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 11
    REVENUE & MARKET DIVERSIFICATION, HEDGING AND TRANSPORTATION (1) Revenue Diversification Current Hedging Transactions (MMcf/d) 140 60% 3.45 120 2.87 50% 25% 100 2.87 40% 2.93 Liquids 80 2.75 3.01 2.87 48% 60 30% 8% 58% 2.75…
  12. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 12
    OPERATIONS OVERVIEW SHIFTING TO MIDDLE MONTNEY LIQUIDS Deep LiquidsRich Inventory (1)(2)(3) Booked Unbooked Upside Undeveloped TOTAL future Progress location inventory 1,200 to 1,400 Glacier 613 Valhalla 62 214 200 123…
  13. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 13
    PIPESTONE/WEMBLEY LIQUIDS RICH DEVELOPMENT The premium condensate play in Canada Pipestone 31 net sections BBI Recent M&A land values exceeding 4.5 million per CNQ ECA section Kelt 42 wells planned from 2019 to 2021 (4)…
  14. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 14
    VALHALLA LIQUIDS DEVELOPMENT ADVANCING Industry results in Middle Montney have proven ultrarich condensate on offsetting lands AAV Liquids Handling Hub Advantage to target same interval Q1 2019 Competitor well IP30 1,400…
  15. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 15
    LIQUIDSRICH MIDDLE MONTNEY AT GLACIER STEPPING UP Early development focussed on upper and lower Only 41 Middle Montney Montney drills to date Liquids range from 2580 bbls/mmcf in Middle Montney 90 net sections 750 well…
  16. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 16
    STRATEGIC INFRASTRUCTURE CONTROL, FLEXIBLE PIPELINE ACCESS 100% Owned Glacier Gas Plant 400 mmcf/d Raw Gas + 6,800 bbls/d C3+ Liquids Extraction Advantage Gas Plant Alliance Sales Gas Line Liquids Handling Hub Pembina…
  17. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 17
    Financial Discipline Operational Excellence Returns Focus
  18. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 18
    APPENDIX 18
  19. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 19
    GLACIER LOCATED IN THE HEART OF THE MONTNEY RESOURCE PLAY Montney Siltstone Comparison: 700 times more permeability 4x more formation thickness Very low clay content Liquids & Improved well efficiencies strong economics Up…
  20. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 20
    CONTINUOUS IMPROVEMENT HAS LED TO EXCEPTIONAL EFFICIENCIES Production restrictions 20
  21. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 21
    MIDDLE MONTNEY PRODUCTION CONTINUES TO INCREASE 2018 6 wells Gen 6: Slickwater, OH Packers, Stage 2015+ Middle Montney wells with frac design changes completions Avg 34 frac stages including 20 frac stages & numerous mechanical…
  22. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 22
    GLACIER MONTNEY ASSIGNED 2P EUR PER WELL & INTERVAL Glacier 2P Recoveries per Interval(1) of Gross HZ Wells 2P Recovery [bcf/well] Developed Undeveloped Total Developed Undeveloped Total Interval YE YE YE YE YE YE YE YE YE YE YE YE…
  23. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 23
    ADVISORY Oil and Gas Information Barrels of oil equivalent (boe) and thousand cubic feet of natural gas equivalent (mcfe) may be misleading, particularly if used in isolation. Boe and mcfe conversion ratios have been calculated using a…
  24. December 2018 Investor Presentation – Advantage Oil & Gas Ltd. – slide 24
    ADVANTAGE CONTACT INFORMATION Investor Relations 1.866.393.0393 iradvantageog.com www.advantageog.com Listed on TSX: AAV Advantage Oil & Gas Ltd. Suite 300, 440 2nd Avenue SW Calgary, Alberta T2P 5E9 Main: 403.718.8000…

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