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1Q 2019 Earnings Presentation – Pengrowth Energy Corp

Pengrowth Energy Corp · May 8, 2019 · 10 slides

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Slides

  1. 1Q 2019 Earnings Presentation – Pengrowth Energy Corp – slide 1
    Q1 2019 Results Q1 2019 Results May 8, 2019
  2. 1Q 2019 Earnings Presentation – Pengrowth Energy Corp – slide 2
    Long-term Value LONG-LIFE LOW-DECLINE ASSETS 50 Year Reserve Life Proved & Probable Reserves 670 Billion cf Proved & Probable Net Reserves (Company Interest) Groundbirch Montney natural gas 231 Million BBL Proved & Probable…
  3. 1Q 2019 Earnings Presentation – Pengrowth Energy Corp – slide 3
    PENGROWTHS FREE CASH FLOW YIELD Torque to Oil EXPECTED TO OUT-PERFORM IN 2019 2019E Interest-adjusted FCF yield(1) Net Present Value Sensitivity(3) At strip pricing(2) GLJ 2P case presented on a before tax basis 25% US55 WTI US60…
  4. 1Q 2019 Earnings Presentation – Pengrowth Energy Corp – slide 4
    BITE SIZED GROWTH PLAN TO REACH 35,000 BBL/D AT Multi-Year Plan LINDBERGH BY THE END OF 2023 Strategic Priority Invest Within Balance Sheet / Deploy Proven Market Cash Flow Debt Reduction Technologies Access Deploy capital Pursue…
  5. 1Q 2019 Earnings Presentation – Pengrowth Energy Corp – slide 5
    Performance versus ADJUSTED OPERATING EXPENSES AND CASH G&A EXPENSES Guidance ARE EXPECTED TO NORMALIZE TO GUIDANCE OVER THE YEAR 2019 Guidance (1) Q1 2019 Performance Average production (boe/d) 22,500 - 23,500 22,764 Lindbergh…
  6. 1Q 2019 Earnings Presentation – Pengrowth Energy Corp – slide 6
    ADJUSTED FUNDS FLOW INCREASE 122% TO Year-over-Year 16 MILLION COMPARED WITH 7.2 MILLION Adjusted Funds Flow ( millions) 10.5 - Increased production (6.5) - Commodity pricing 8.9 Decreased hedging losses (3.3) - Increased…
  7. 1Q 2019 Earnings Presentation – Pengrowth Energy Corp – slide 7
    DRAWS ON OUR CREDIT FACILITY INCREASED PARTLY DUE TO Liquidity ABANDONMENT AND RECLAMATION WORK COMPLETED DURING THE FIRST QUARTER WHICH REDUCED OUR LETTERS OF CREDIT 330 MM Revolving Credit Facility 531 MM Long Term Notes Drawn…
  8. 1Q 2019 Earnings Presentation – Pengrowth Energy Corp – slide 8
    LINDBERGH EXITS 2018 ON PLAN AT MORE THAN 19,000 BBL/D AND Lindbergh SAGD CONTINUES TO PRODUCE AT UPPER END OF 2019 GUIDANCE EVEN WHILE CURTAILED Unscheduled Outage 20,000 18,000 12.0 Scheduled plant turnarounds Bitumen Production…
  9. 1Q 2019 Earnings Presentation – Pengrowth Energy Corp – slide 9
    Lindbergh (BEFORE REALIZED COMMODITY RISK MANAGEMENT) Operating Netbacks* 60.00 OPERATING NETBACK 50.00 ( PER BBL) 40.00 30.00 20.00 38.88 34.20 24.77 24.89 26.16 25.00 22.69 21.72 10.00 1 19.67 16.93 11.48 13.16…
  10. 1Q 2019 Earnings Presentation – Pengrowth Energy Corp – slide 10
    Strategic REVIEW PROCEEDING AS PLANNED Alternatives Assembly of Bid Evaluation, Virtual Data Management Preliminary Lender Room and Meetings with Bid Evaluation, Solicitation of Negotiation, Confidential Counterparties…

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