Cequence Energy Ltd. Restructured and Focused November 21, 2018 TSX:CQE 1
Previous Transitioning 60 million 9.7% 60 million 5% RESTRUCTURED Unsecure senior notes 2nd lien term loan(1) & Matured Oct 3, 2018 Matures Oct 3, 2022 FOCUSED 8.6 million Equity financing oversubscribed rights initiated…
2nd lien secured 7 million 2.8 million undrawn per year 60 million term Senior Credit interest loan 5% Facility savings RESTRUCTURED DEBT 60 million Term Loan 7 million Senior Credit Facility Maturity is October 3, 2022 Senior…
2.8 million per year interest Revised Year savings Ended December 31, 2018 GUIDANCE (000s, except per share and per unit references) 2018 Average production, boe/d (1) 6,500 Funds flow from operations ()(2) 13,700 REINVEST IN…
Improving Netback Improved Well Performance REINVEST IN Lower interest & operating cost Well design improvements: DUNVEGAN OIL Increased oil & liquids Strong Dunvegan oil results weighting: 27% up from 17% in above analog averages…
All 3 Pools have similar OOIP/section ranges of 6-15 MMBOE Simonette & Karr on primary solution gas drive Kaybob South operator has initiated a pilot secondary recovery waterflood scheme 06-06 1st Hz producer converted to injector…
Dunvegan 2017 YE Bookings (1) (2) PUD (Drilled) PUD Probable Unbooked Locations Planned Drills through H1 2019 11-14 12-14 04-08 vertical 100% WI lands IP30: 45 BOPD 09-11 5-7 facility 2,000 bbls/d 50% CQE 740 Hp 15-04…
15-04 04-11 Fish in lateral SIMONETTE DUNVEGAN LIGHT OIL Strong Well Results 2017/2018 actual costs 4.5 MM/well: 2100 m laterals, 39 frac stages (20% more fracs than historical) PERFORMANCE 6 of 7 wells at or above production…
03/04-08 Vertical to Horizontal Production Analog VERTICAL VS KAYBOB VERTICAL CQE 04-08 vertical well completed in Q3-2017 WITH HORIZONTAL Simonette Kaybob South 04-08 vertical producing at or OFFSETS above analog Kaybob verticals…
SIMONETTE MONTNEY 100/11-16-061-27W5M Nordegg Historical Upper CQE Hz Montney placement BIG RESOURCES All zones 121 MMboe proved plus probable booked reserves (1) Montney: 140m Thick (1) Reserves evaluation by…
WEST AREA CHARACTERIZATION CEQUENCE Double the condensate rate vs the SIMONETTE historical type curves Condensate rate 2X historical UPPER MONTNEY Higher netback production LIQUIDS-RICH Liquids sales 98% high-value pentanes plus…
2,500 m Mean 2017 West 16-33 - 3% GORR 65 WTI, 2.50/GJ CDN Well (1) Montney (50 bbl/MMcfd C5) Parameters Length (m) 2,500 2,850 3,050 Costs (Drill, Complete, Equip) Total (MM) 7.7 8.0 8.6 COMMERCIAL Drilling Results IP30…
Volume Price HEDGING Contract Type GJ/d Cdn & GAS MARKETING 2018 December 1, 2018 December 31, 2018 Swap 5,000 4.60/GJ DAWN 2019 January 1, 2019 March 31, 2019 Swap 5,000 4.60/GJ DAWN 2019 April 1, 2019 June 30, 2019 Swap 2,500…
WHY OWN CQE Restructured 60 million term debt maturing 2022 saving 2.8 million per year Equity raise adding highly commercial Dunvegan oil inventory on 100% CQE lands Improved Corporate gas price with Dawn, Ontario marketing…
APPENDIX TSX:CQE 16
Cequence Alliance Meter Station Capacity 120 MMcf/d Pembina Lator Truck Terminal CQE 9-10 Field Compressor Alliance/Aux Sable Deep Cut Plant SIMONETTE EGRESS Proposed Pembina Simonette Terminal Chicago, Illinois NGTL…
Todd Brown CEO Kevin Nielsen Contract Interim CFO MANAGEMENT Dave Robinson AND BOARD Management Team VP Ex and Chief Geologist Chris Soby VP Land and Corporate Development Erin Thorson Controller Don Archibald Executive…
www.cequence-energy.com Contacts: Todd Brown Don Archibald 1400, 215 9th Ave S.W. Calgary AB T2P 1K3 CEO Executive Chairman Phone: 403-229-3050 Fax: 403-229-0603 tbrowncequence-energy.com darchibaldCequence-energy.com TSX:CQE TSX:CQE…
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