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May 2019 Corporate Presentation – Delphi Energy Corp.

Delphi Energy Corp. · May 8, 2019 · 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. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 1
    MAY 7 2019 MAY PRESENTATION
  2. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 2
    BIGSTONE PROLIFIC, LIQUIDS RICH MONTNEY Pure play MONTNEY E&P company with WORLD CLASS ASSETS: Successful delineation drilling Grande Prairie Bigstone to the west and south Montney Edmonton Growing condensate production and high…
  3. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 3
    MONTNEY DRILLING PLANS Section 10 2 Wells on Development offsetting Production successful delineation at Section 10 West Bigstone: 4 Well Pad 4 well pad offsetting 15- Completed 10 and 16-10 producing wells Section 4 Section…
  4. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 4
    2019 OUTLOOK Approach Focused on capital efficiency and return on capital Capital spending will be funded from cash flow Strong hedge book for 2019 and into 2020 Condensate growth of 29% in 2018 over 2017 2018 unhedged cash…
  5. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 5
    MOST RECENT WEST BIGSTONE RESULTS Initial Production (IP) Rate Well Performance (1) Number IP30 IP90 IP180 Consistent field Well of Fracs Total Sales Field Condy Total Sales Field Condy Total Sales Field Condy condensate rates with…
  6. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 6
    MOST RECENT WEST BIGSTONE RESULTS West Bigstone 15-19-59-23W5 West Bigstone 16-10-60-24W5 10,000 10,000 Raw Gas (mcf/d) and Field Condensate (bbl/d) 49 stages 64 stages Raw Gas (mcf/d) and Field Condensate (bbl/d) 1,000…
  7. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 7
    MOST RECENT WEST BIGSTONE RESULTS West Bigstone 02/16-31-59-23W5 West Bigstone 15-10-60-24W5 10,000 10,000 Raw Gas (mcf/d) and Field Condensate (bbl/d) Raw Gas (mcf/d) and Field Condensate (bbl/d) 49 stages 64 stages 1,000…
  8. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 8
    BIGSTONE MONTNEY GROWTH Montney Production Growth Montney asset growth funded largely through cash flow and non-core asset 10,000 Liquids CAGR 48% dispositions 8,000 Nat. Gas CAGR 36% Life-to-date (LTD) capital includes land…
  9. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 9
    CONSISTENT ECONOMIC RESERVE GROWTH Montney Development (2012 to 2018) Montney Reserves (mboe) 60 wells (45.6 net) drilled Proved Developed Producing 20,000 2015/16 focused on infill locations Montney Other Reserves (mboe)…
  10. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 10
    NETBACK COMPARISON SELECT MONTNEY PRODUCERS Condensate yields, total liquids content and operating netbacks are among the highest in the Montney Netback(1) 2018 45.00 70% 40.00 60% 35.00 50% 30.00 40% 25.00 20.00 30%…
  11. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 11
    BUILT A DOMINANT LAND POSITION Largest Land Position at Bigstone Montney land base has grown to 148 gross sections (97 net) Significant land position allows for efficient operations, control over infrastructure and scalable…
  12. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 12
    BIGSTONE INFRASTRUCTURE FULLY INTEGRATED DEE Amine Plant 17 mmcf/d DEE 7-11 Sour Montney Facility 52 mmcf/d 4,400 bbl/d condensate Montney gas processed at 4 DEE 11-03 Sweet Gas Plant different plants 15 mmcf/d Pipeline…
  13. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 13
    7-11 AMINE PLANT ON-STREAM Delphi 17 mmcf/d amine plant to sweeten Delphi Montney sour gas 52 mmcf/d sour compression and dehydration facility May 2019 13
  14. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 14
    BIGSTONE SWEET GAS PROCESSING PLANT Repsol / Delphi sweet natural gas processing plant Delphi 25% working interest 85 mmcf/d capacity significantly underutilized Now processing amine sweetened Montney gas Material operating…
  15. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 15
    NEW AMINE PLANT IMPROVES CASH NETBACK Commissioned May 2018 Up to 17 mmcf/d (11 net) of raw natural gas Cash flow increases by about 0.67/mcf(1) on amine sweetened gas sold on AECO Cash flow impact increases to 0.95/mcf once…
  16. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 16
    SECURE MARKET ACCESS FOR GROWTH Delphi/Alliance Contracted Transportation Full Path Service to Chicago Service (mmcf/d) 22 11 46 Alliance Firm Alliance IT TCPL Firm Alliance 57 mmcf/d of firm and priority interruptible…
  17. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 17
    GAS MARKETING Approximately 60% of natural gas sold in Chicago generating significantly higher pricing than AECO. AECO exposure is hedged through marketing income earned on excess Alliance firm service. Reactivation of the Alliance…
  18. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 18
    CONTRACTED ALLIANCE SERVICE IS A VALUABLE ASSET Delphis Alliance service is worth approximately 52 million (1) The undiscounted value of the arbitrage between AECO and Chicago netback prices available through Delphis Alliance…
  19. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 19
    PROVEN RISK MANAGEMENT PROGRAM Commodity Hedges 1H 2019 2H 2019 1H 2020 2H 2020 Consistent Hedge Performance Natural gas (mmcf/d) 20.0 15.0 8.8 2.5 Average hedge price (C/mcf)(2) 3.50 3.44 3.38 3.29 Majority of near term production…
  20. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 20
    UNDERSTANDING RESULTS OF EVOLVING FRAC DESIGN Montney Frac Generation Design Evolution 200 2,000 180 Planned stages Sand placed 1,800 Evolution to more stages and 160 1,600 sand moving to West Bigstone Planned Stages Sand…
  21. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 21
    INCREASING CONDENSATE YIELDS Condensate Gas Ratios Significantly Greater in West Bigstone with Frac Design Changes Delphi Bigstone Montney - IP180 CGR vs. IP30 CGR 250 West Type Well - Stabilized CGR Type Well - Stabilized CGR…
  22. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 22
    INCREASING NETBACKS Corporate netbacks increase with addition of higher condensate yield wells Impact of Production Composition on IP90 Operating Netback for Bigstone Montney(1) 50.00 IP90 CGR IP90 CGR = 185 40.00 IP90 CGR = =…
  23. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 23
    APPENDIX May 2019 23
  24. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 24
    INDIVIDUAL MONTNEY WELL DATA Initial Production (IP) Rate Well Performance (1) Well(2) Frac Design Horizontal Number IP30 IP90 IP180 IP365 Generation Length of Fracs Total Sales Field Condy Total Sales Field Condy Total Sales Field…
  25. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 25
    MONTNEY ECONOMIC MODEL Bigstone Montney Toe Up Two Section Horizontal Hypothetical Type Wells 30+ stage Slickwater Completion Economics/Metrics - Flat Pricing: WTI US65/bbl, NYMEX US2.80/mmbtu Type Rich Type Well Well Payout yrs…
  26. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 26
    AER LICENSEE LIABILITY RATING May 2019 26
  27. May 2019 Corporate Presentation – Delphi Energy Corp. – slide 27
    2300, 333 7th Avenue SW Calgary, Alberta T2P 2Z1 P (403) 265-6171 F (403) 265-6207 infodelphienergy.ca www.delphienergy.ca May 2019 29

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