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December 2018 Investor Update – Painted Pony Energy Ltd.

Painted Pony Energy Ltd. · Dec 18, 2018 · 27 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 Update – Painted Pony Energy Ltd. – slide 1
    Investor Update December 18, 2018
  2. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 2
    Why we do what we do We believe: world demand for clean Billion Toe (tonnes of oil equivalent) and reliable energy is rapidly growing technological advancements makes our energy cost competitive on a world scale in developing…
  3. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 3
    Corporate Profile TSX: PONY Forecasted 2018 Annual Growth 32% Adjusted Funds Flow Per Share 34% Production 45% Liquids Production Q3 2018 Production 350 MMcfe/d (58,330 boe/d) 5,248 bbls/d Liquids Balance Sheet 362 million…
  4. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 4
    Global LNG Market Supply Shortage / Growth Demand Monthly Chinese LNG Imports Global LNG Netbacks 12.00 10.0 10.00 8.0 USD/MMBtu 8.00 Bcf/d 6.0 6.00 4.0 2.0 4.00 India Spain Japan UK 0.0 2.00 Jan-15 Mar-15…
  5. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 5
    Proposed West Coast LNG & LPG Projects Game Changer LNG Projects Capacity T-North Enbridge Mainline LNG Canada Shell, Petronas, Mitsubishi, Petro- 1.9 3.8 Bcf/d China, KOGAS (Under Construction) AltaGas Ridley Island Woodfibre LNG…
  6. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 6
    Alberta Natural Gas Market Continued Demand Growth 8.0 Coal-to-Gas Conversions Alberta is expected to increase natural gas consumption by over 45% between 2018 Significant demand growth is taking 6.0 and 2023 place in Alberta…
  7. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 7
    World Class Resource Montney Pure Play Asset The Montney is the most economic natural gas liquids play in Canada 306 net sections (195,840 net acres) of Montney lands 6.9 Tcfe (1,149 MMboe) Proved Plus Probable Reserves(1) with a…
  8. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 8
    Montney Pure Play Location, Location, Location Drilled first well at PONYs Montney Sweet Spot is: liquids-rich Beg 38 during Q1 2018 sections 4x thicker than the Marcellus at greater than 300 meters (approximately 1,000 ft.)…
  9. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 9
    Transportation Firm Transportation & Toll Advantage to West Coast Enbridge T-North Tolls Single toll structure 0.20/Mcf Pony can deliver at either Station 2 or Sunset Creek for single toll TransCanada AECO Tolls 0.27/Mcf…
  10. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 10
    2019 Market Diversification Natural Gas Sales Points St 2 Market 25 MMcf/d 2019 average (fixed price) AECO AECO Market Station 120 MMcf/d 2019 average (fixed price & spot) 2 Medicine Sumas Hat SUMAS Market 25 MMcf/d 2019…
  11. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 11
    2019 Production Revenue Managing Volatility Expected 2019 Production Revenue by Source 50% of PONYs 2019 production revenue is protected through a AECO combination of physical and financial contracts at a volume- DAWN SUMAS…
  12. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 12
    Solid Margins Drive Earnings Cost Efficiencies Drive Higher Cash Flow per Mcfe YTD Top Line Revenue Forecasted as at Sept 30, 2018 2019 Revenue 3.50 3.24 /Mcfe 3.22 /Mcfe Hedging Gain 0.39 3.00 Cash Flow 0.89 Cash Flow 0.80 2.50…
  13. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 13
    2018 / 2019 Capital Spending Cash Flow Budgets Annual Average Daily Production (forecast) Annual Average Daily Production (actual) 400 500 Capital Development Program Cash 350Flow (actuals) Cash Flow (forecast) 400 339 348…
  14. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 14
    Production Profile Impressive Growth Quarterly production per share Quarterly average daily production (actual) 533% forecast increase in Quarterly average daily production (forecast) 400 annual average daily 5 Enbridge production…
  15. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 15
    The Sweet Spot Top Decile Well Performance PONY has the best well in North Montney with 6-month 47 of top 100 wells 2,250,000 average daily production rate are PONY of more than 11 MMcf/d wells 2,000,000 Based on 1,750,000…
  16. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 16
    Historical Costs Drilling & Completions Efficiency As capital well costs fell, production type curves dramatically improved Management Continued type curve Perf & Plug Systems Type Curve improvement with average well 21 wells…
  17. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 17
    Land Valuation Recent Land Sales Suggest PONY Undervalued Recent land sales have shown significant Recent land sales have shown value in north east BC acreage significant value in north east BC acreage PONY has five largely…
  18. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 18
    Single Well Economics by Area 2018 Management Type Curves Management Type Curves Single Well Economics IRR NPV10 Pay Out Daiber (dry) Blair (lean) Daiber 59.1% 5.6 mm 21 months (dry) Townsend (liquids-rich) 8,000 Blair 66.8%…
  19. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 19
    Single Well Development Economics Price Sensitivity (Half Cycle) Townsend (liquids-rich) Blair (lean) Daiber (dry) 120% Liquids-enhanced, Blair 100% wells provide exposure to stronger Condensate, NGL and natural gas pricing…
  20. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 20
    Recycle Ratios Low-Cost 3-Year Average Reserve Additions 4.0x 1.6x Proved Developed Producing 2017 F&D Recycle Ratio 3.2x 3.0x 2017 Recycle Ratios 1.9x 2.0x 1.8x 1.6x 1.6x 1.3x 1.1x 1.0x 0.0x Proved Developed…
  21. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 21
    Canadian Natural Gas Reserves As at Dec 31, 2017 12 PONYs Proved plus Probable 10.7 natural gas reserves of 6.5 Tcf (excludes liquids) positions PONY 10 9.5 with the third-largest natural gas reserves of any publicly traded…
  22. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 22
    Reserve Information As at Dec 31, 2017 6.9 Tcfe of Proved Plus Proved Plus Probable Probable reserves with Total Proved an NPV10 of 3.3 billion* 8.0 (20.53/share) 6.9 7.0 PONY Reserve Growth 6.0 4.9 5.0 4.6 4.0 2.9 3.0…
  23. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 23
    Pony Points Checking Off All of the Boxes Diversified Market Access Massive reserves base Top well performance Low well costs Firm transportation to diverse pricing hubs Attractive relative valuation Well situated to…
  24. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 24
    Appendices & Advisories
  25. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 25
    Financial Strength Term Debt and Credit Facility Provide Flexibility 400 Million Syndicated Credit Facility Syndicated Credit Secured, Reserve Based Lending Facility Matures May 2020 173 million drawn as at September 30, 2018 186…
  26. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 26
    Beg Test Well Significant Untapped Value in Liquids-Rich Block Black Swan - Beg 20-H 2 Upper Montney wells 5.5 MMcf/d 7 bbls/MMcf Free Condensate Jedney 3 km Final 8 hours of seven day test Black Swan - Beg 80-G 2,000 boe/d…
  27. December 2018 Investor Update – Painted Pony Energy Ltd. – slide 27
    Corporate Overview Auditor KPMG LLP Evaluation Engineers GLJ Petroleum Consultants Ltd. Banks The Toronto-Dominion Bank The Bank of Nova Scotia Alberta Treasury Branches Canadian Imperial Bank of Commerce Royal Bank of Canada…

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