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January 2019 Corporate Presentation – Canbriam Energy

Canbriam Energy · Jan 14, 2019 · 32 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. January 2019 Corporate Presentation – Canbriam Energy – slide 1
    CANBRIAM ENERGY INC. CORPORATE PRESENTATION JANUARY 2019
  2. January 2019 Corporate Presentation – Canbriam Energy – slide 2
    Canbriam Energy: Established, Experienced and Differentiated An integrated, BC Montney liquids rich natural gas growth company with differentiated resource quality Established premier position based on the management teams collective…
  3. January 2019 Corporate Presentation – Canbriam Energy – slide 3
    Investing in Canbriam Energy Canbriams integrated approach supports low cost Montney development & full cycle value creation Prolific BC Montney asset with low risk development inventory Integrated strategy provides low…
  4. January 2019 Corporate Presentation – Canbriam Energy – slide 4
    Canbriams Altares is located in the prolific B.C. Montney The BC Montney has significant well density and peer activity Canbriam Energy Williston Lake 15 km 4 Canbriam Energy Corporate presentation
  5. January 2019 Corporate Presentation – Canbriam Energy – slide 5
    Positioned within the liquids rich fairway of the BC Montney Large, contiguous land position in Altares & Kobes supports liquids rich natural gas development Dry gas Rich gas Oil window 0 -100 bbl/MM 100+ bbl/MM Strong liquids…
  6. January 2019 Corporate Presentation – Canbriam Energy – slide 6
    Stable production history with strong liquids content Canbriams production growth is supported by the phased expansion of the Altares Processing Facility Altares Sales Production history (Mboe/d) 45 Oct 2015: Phase 2 of Altares…
  7. January 2019 Corporate Presentation – Canbriam Energy – slide 7
    Enbridge incident on T South pipeline Financial impact to Canbriam mitigated by risk management Enbridge T South incident on October 9, 2018 Canbriam Sales Production history (Mboe/d) T South incident T South sales pipeline…
  8. January 2019 Corporate Presentation – Canbriam Energy – slide 8
    Convergence of key parameters in Altares & Kobes Canbriam acquired its position in Altares in 2008 after an extensive regional Montney review Thick Reservoir (300+ m) Highly Over-Pressured (1.5 2.0x) Free Liquids (30 40+ bbl/MMcf)…
  9. January 2019 Corporate Presentation – Canbriam Energy – slide 9
    High Well Productivity & Low Decline Base Production Asset quality has supported top-tier performance and lower base declines 12-month Rate vs. 12-month Cumulative Production (Q3 2018) Production by Well Vintage 8 40,000 Gas Rate…
  10. January 2019 Corporate Presentation – Canbriam Energy – slide 10
    Increased drilling & completion efficiency in over-pressured Montney Canbriams Altares drilling requires underbalanced drilling with mud weights exceeding 1,800 kg/m3 Unique challenges in over-pressured Doig & Montney formations…
  11. January 2019 Corporate Presentation – Canbriam Energy – slide 11
    Canbriams High Quality Altares Montney Footprint Ideally positioned in the liquids-rich window of the B.C. Montney Rich gas boundary Key reservoir attributes of the Altares Montney region Pressure gradient 18Kpa/m Subsurface…
  12. January 2019 Corporate Presentation – Canbriam Energy – slide 12
    Altares Processing Facility: scalable to 400 MMcf/d Canbriam owns & operates all of its processing infrastructure Water treatment & recycling hub Commissioned March 2015 Phase 4: 120 MMcf/d Sanctioning to be determined Phase…
  13. January 2019 Corporate Presentation – Canbriam Energy – slide 13
    Competitively advantaged in water sourcing, handling & disposal Integrated water strategy eliminates need to truck water Sourcing & distribution 80% 20 year permit (2011) to access 10,000 m3/day of fresh water from Williston Lake…
  14. January 2019 Corporate Presentation – Canbriam Energy – slide 14
    Marketing & transportation plan supports long term development Sufficient takeaway capacity to support near term requirements Enbridge T North: 228 MMcf/d firm capacity Enbridge T North Incremental 20 MMcf/d added effective April…
  15. January 2019 Corporate Presentation – Canbriam Energy – slide 15
    Price realizations benefit from liquids content, hedging & heat content Disciplined risk management & active hedging program have supported realized prices Revenue by product: 2015 Q3 2018 (/boe) High heat content natural gas(1) 30.00…
  16. January 2019 Corporate Presentation – Canbriam Energy – slide 16
    Low cost structure supports full cycle profitability Canbriams low cost structure drives strong play economics despite low commodity prices Canbriam Cost Structure vs. Price Realizations (2014 Q3 2018) 40 36.51 35 35.88 30…
  17. January 2019 Corporate Presentation – Canbriam Energy – slide 17
    Prudently managing 2018 price exposure Station 2 exposure eliminated in Q4 2018E through voluntary production curtailment Regional price exposure Q4 2018E on 40,000 boe/d capacity (220,000 GJ/d) Sumas based physical contracts(1)…
  18. January 2019 Corporate Presentation – Canbriam Energy – slide 18
    Natural gas & liquids price risk management Active hedging, physical sales basis contracts & high heat content have optimized natural gas pricing Natural gas hedges(2) (at November 15, 2018) Liquids hedges (at November 15, 2018)…
  19. January 2019 Corporate Presentation – Canbriam Energy – slide 19
    Investing in Canbriam Energy Canbriams integrated approach supports low cost Montney development & full cycle value creation 100% working interest and operatorship in core Altares & Kobes Montney lands Prolific Montney resource…
  20. January 2019 Corporate Presentation – Canbriam Energy – slide 20
    SUPPLEMENTAL INFORMATION 20 Canbriam Energy Corporate presentation
  21. January 2019 Corporate Presentation – Canbriam Energy – slide 21
    Canbriam has the foundation for long term value creation Our approach is defined by three key elements Resource Innovation Collaboration Montney is a world class reservoir Canbriams success is tied to early Team approach fosters…
  22. January 2019 Corporate Presentation – Canbriam Energy – slide 22
    Canbriam Energy leadership Team built specifically for exploration & development of unconventional gas resource Paul Myers Founder and CEO since company inception in 2007 President and Chief Diverse 30 year career in various…
  23. January 2019 Corporate Presentation – Canbriam Energy – slide 23
    Significant reserves growth with high liquids content Canbriams 2P bookings reflect consistent well performance 2P Reserve growth (MMboe) 2P F&D costs & recycle ratio(1) 25 4.0 67 3.3 3.2 3.5 63 61 2.9 20 2.7 3.0 2.3 F&D…
  24. January 2019 Corporate Presentation – Canbriam Energy – slide 24
    Illustrative type curve economics Main Fault Block type well statistics represent the current planning basis for Canbriam Single well statistics Main Fault Block BT IRR (%) 140% Well properties Upper Montney Lower Montney 120%…
  25. January 2019 Corporate Presentation – Canbriam Energy – slide 25
    Optimizing well performance through choke management strategy Canbriams use of downhole chokes optimizes its over-pressured reservoir Altares c-B27-H well - Upper Montney Advantages of downhole chokes: 15.0 30,000 Minimizes 1st…
  26. January 2019 Corporate Presentation – Canbriam Energy – slide 26
    Development plan includes five commercial intervals Three Upper Montney & two Lower Montney layers at 300 meter spacing 7 Tested zones C5 Commercial Upper Intervals1 & 2 C4 C2 Commercial Interval 3 T1 300 m…
  27. January 2019 Corporate Presentation – Canbriam Energy – slide 27
    Evolution of Completion Optimization Completion efficiency improving through technology advancement & integrated technical approach Initial Development Development Phase Current Design Future Enhancements (2009 2012) (2013 2015)…
  28. January 2019 Corporate Presentation – Canbriam Energy – slide 28
    Stable production history with strong liquids content Canbriams production growth reflects addition of phases 1 & 2 of the Altares Processing Facility in 2015 250 Natural gas production Inlet Sep 40,000 Boe/d nameplate capacity 200…
  29. January 2019 Corporate Presentation – Canbriam Energy – slide 29
    Historical financial summary Financial performance reflects improving cost structure and production growth Average production 37.7 Adjusted EBITDA(1) (Mboe/d) (C millions) 144 26.9 137 26.6 106 17.9 83 88 9.6 66 7.8 2013…
  30. January 2019 Corporate Presentation – Canbriam Energy – slide 30
    Historical netbacks Canbriams low cash costs, liquids content and prudent risk management drive strong operating netbacks 2018 2017 2016 2015 Benchmark prices Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Henry Hub (US/MMbtu) 2.90 2.80…
  31. January 2019 Corporate Presentation – Canbriam Energy – slide 31
    Supplemental reserves information 2017 Independent reserves evaluation completed by McDaniel & Associates Reserves Reconciliation(1) Proved Probable Proved + Probable Natural Gas NGLs Total Natural Gas NGLs Total Natural Gas NGLs…
  32. January 2019 Corporate Presentation – Canbriam Energy – slide 32
    Canbriam Energy Inc. 2100, 215 2nd Street SW Calgary, AB Canada T2P 1M4 Tel: 403.269.2874 www.canbriam.com Paul Myers President & Chief Executive Officer 403.718.8550 pmyerscanbriam.com Larry Cole Chief Financial Officer 403.718.8551…

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