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March 2019 Corporate Presentation – Bonavista Energy Corp

Bonavista Energy Corp · Mar 13, 2019 · 31 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. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 1
    Building the Foundation for a Sustainable Future March 2019 www.bonavistaenergy.com TSX: BNP 1
  2. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 2
    Corporate Strategy World Global demand for energy will increase by more than 25% by 2040 Energy Demand will not be met by a single energy source Outlook Low-carbon technologies and natural gas can meet more than 80% of the increasing…
  3. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 3
    Corporate Strategy Canadian natural gas: Abundant, reliable and environmentally friendly without borders From cooking to heating Shifting from coal to LNG homes to generating A great partner to renewables when the sun isnt shining…
  4. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 4
    Corporate Strategy Liquefied Natural Gas (LNG), The Fuel of Choice Around the World Asian Pacific markets lead the world, increasing 6,000 natural gas demand BC LNG is 55% less carbon intense than US Gulf Coast LNG* 104% by 2040*…
  5. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 5
    Corporate Strategy Canada, leaders in environmental and social compliance How comprehensive are the Which country or region has the rules to environmental laws* ensure compliance* Australia Canada Canada (Alberta) Canada (Alberta)…
  6. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 6
    Corporate Identity A CANADIAN COMPANY, PROUDLY AND EXPERIENCED RESPONSIBLY DEVELOPING CANADIAN NATURAL RESOURCES FOR 21 YEARS. STRATEGICALLY POSITIONED IN TWO UNIQUE CORE AREAS OFFERING EFFICIENT INVESTMENT FLEXIBILITY AND…
  7. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 7
    Corporate Identity Better than a pure play - two core areas with unique strengths adds capital allocation flexibility ALBERTA Deep West 2018 Basin Central Production (boe/d) 27,496 38,563 Liquids and Oil (% of total production) 12%…
  8. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 8
    2018 Performance 2018 Reserve growth in quality and quantity, notwithstanding curtailed spending Natural Reserve Natural Percent 2P BT Oil Gas Total Category* Gas Gas NPV10 Liquids REPLACED of 2018 184 total ( (Bcf) (Mbbls)…
  9. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 9
    2018 Performance Continuous improvements in reserve addition costs leading to strengthened net asset value Net Debt (per share)* 2P FD&A* three-year 2P FD&A Recycle Ratio three-year 2P BTNPV10 inclusive of net debt (per share)*…
  10. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 10
    2018 Performance Strategically strengthening our financial position Underspent 2018 AFF*100% Natural Gas 80,000 by 50% to add and Improving our Financial Flexibility 70,000 acquire reserves 60,000 75% 50,000 000s 40,000…
  11. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 11
    2018 Performance Successfully allocated capital to liquid rich plays 100% 50% 20,000 95% 45% 90% 40% 18,000 16% growth in NGL NGL Production (bbl/d) 35% production % of Production 30% 16,000 25% 31 % oil & 20%…
  12. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 12
    2018 Performance Strategic A&D activity enhanced quality of asset portfolio Edmonton Net property acquisitions and dispositions of 6.0 million 3 property +402 acquisitions boe/d production 5 swaps for Focused undeveloped land…
  13. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 13
    Enhancing Asset Quality Focusing on the Southern Glauconite R9 R8 R7 R6 R5 R4 R3W5 T42 Large, liquid rich resource in place Predictable, reliable results with ten T41 years of experience, drilling over Optimize 350 horizontal…
  14. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 14
    Enhancing Asset Quality Strachan growth in production and operating netback Old process Optimized process 25.00 6,000 New infrastructure fully operational 20.00 5,000 in July 4,000 Drilled six gross wells in 2018 15.00…
  15. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 15
    Enhancing Asset Quality Year over year improvements in our Deep Basin region R21 R19 R17 R15 Owned and operated infrastructure in place, T57 capable of processing 275 mmcf/d High productivity, low-cost production additions T55…
  16. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 16
    Enhancing Asset Quality Profitable growth in the Deep Basin notwithstanding natural gas price erosion 3.0 3.00 80% 70% 2.5 2.50 Recycle Ratio* 60% Recycle Ratio* (X:1) 2.0 2.00 50% AECO (/GJ) 1.5 1.50 40% 30%…
  17. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 17
    2019 Priorities SUSTAINABILITY VALUE CREATION optimizing operating consistently elevating netback and adjusted asset quality with precise funds flow to improve execution and strategic financial flexibility and resource capture…
  18. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 18
    2019 Philosophy modest levels of investment required to In 2019, we expect: 1,500 maintain production 80,000 to maintain production 70,000 to manage a sustainable decline rate* 1,200 to continuously improve capital efficiencies*…
  19. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 19
    2019 Protecting Funds Flow 100% 90% Natural Gas Hedging & Diversification* % of Natural Gas Production 80% 70% 30% 2019 natural gas production diversified 60% beyond AECO 50% 65-105 mmcf/d diversified between 2020 and…
  20. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 20
    2019 Guidance production adjusted funds flow* 170 - 200 65,000 ( millions) 69,000 E&D spending (boe/d) 130 - 170 Drill ( millions) Net debt reduction* 24 32 20 - 40 70% natural gas gross wells 30% natural gas liquids…
  21. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 21
    APPENDIX www.bonavistaenergy.com TSX: BNP 21
  22. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 22
    2019 Price Sensitivities WTI -5.00 2019E AFF* +5.00 -2.5 million +1.8 million /bbl 170 - 200 million /bbl NYMEX -0.25 2019E AFF* +0.25 -13.4 million +13.7 million /mmbtu 170 - 200 million /mmbtu * Refer to Advisories…
  23. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 23
    Corporate Identity Q4 2018 operating and financial results Production total % oil & natural gas liquids Financial Highlights 68,011 31% boe/d 61.1 million adjusted funds flow* Operating Expenses 0.23 per share (260 million basic…
  24. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 24
    Strengthen Financial Position Debt structure maturity and F/X hedging profile 180 160 Next maturity November, 140 2020 Bank credit facility - 500 million CDN 120 Bank credit facility, matures September 10, 2021 100 8 Canadian…
  25. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 25
    Hoadley Glauconite Type Curve Type Curve* 2-mile 3,500 Value capital* ( millions) 4.0 IP12 (boe/d) 540 3,000 Production efficiency* (/boepd) 7,300 EUR* (mboe) 898 2,500 F&D costs* (/boe) 4.41 Raw Gas (mcf/d) Operating…
  26. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 26
    Strachan Glauconite Type Curve Type Curve* 1.5-mile 1.5-mile (high condensate) 6,000 Value capital* ( millions) 4.9 4.9 IP12 (boe/d) 575 610 5,000 Production efficiency* (/boepd) 8,500 8,000 EUR* (mboe) 736 782 4,000 F&D costs*…
  27. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 27
    Morningside Falher Type Curve Type Curve* 2-mile 7,000 Value capital* ( millions) 3.5 IP12 (boe/d) 600 6,000 Production efficiency* (/boepd) 5,800 EUR* (mboe) 755 5,000 F&D costs* (/boe) 4.66 Raw Gas (mcf/d) Operating…
  28. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 28
    Ansell Wilrich Type Curve Type Curve* 1.5-mile (diagonal) 8,000 Value capital* ( millions) 4.7 7,000 IP12 (boe/d) 790 Production efficiency* (/boepd) 5,950 6,000 EUR* (mboe) 889 F&D costs* (/boe) 5.27 Raw Gas (mcf/d)…
  29. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 29
    Sustainable Energy Future Sustainable growth includes reducing footprint TOP TIER PIPELINE RECORD 1.2 1,200 5.0 9,000 1.8 4.0 8,000 1.6 1.1 1,160 4.0 LESS ARO1 LIABILITIES 7,000 1.4 REDUCING EMISSIONS 3.0 C02e (MM…
  30. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 30
    ADVISORIES www.bonavistaenergy.com TSX: BNP 30
  31. March 2019 Corporate Presentation – Bonavista Energy Corp – slide 31
    CONTACT US Phone: (403) 213-4300 Email: investor.relationsbonavistaenergy.com ADDRESS 1500, 525 8th Ave. SW Calgary, Alberta T2P 1G1 REGISTRAR AND TRANSFER AGENT Computershare Trust Company of Canada Calgary, Alberta STOCK EXCHANGE…

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