2019 Peters & Co. Conference September 10th 2019 SCOTT SOBIE, PRESIDENT & CEO Oct. 20, 2017
Company Overview Leading, Large Scale, Light Oil Resource Development August production of 34,000 boe/d production (100 wells on Established Production stream) and Extensively 40% of Montney lands booked as 2P, majority in a single…
Historical Montney Activity HHR Lands Are Situated in the Most Active Part of the Basin Regional Montney Map The Montney is Highest Montney Area for Investments experiencing rapid growth 1 in Western Canada, 2010 2013 2019 YTD AB…
Single Well Economics Benchmarking Play Economics Competitive with Premier Plays Half Cycle IRRs (US60 WTI / US2.50 NYMEX) (1) First 24 Month Royalty Range At current prices, Montney plays have a distinct royalty advantage to Lower…
Key Corporate Milestones Core of the Core in the Montney Oil Window First Montney Hz flowing at Simonette Continue delineation with Completion of Complete and test Achieved full field South Karr Gen II land consolidation new Lower…
Hammerheads Unique Position World Class Resource Play in the Light Oil Fairway Upper / Middle Montney Multiple benches with predictable reservoir distribution provide an extensive stacked lateral resource play All layers have proven…
H1 2019 Results - Delivering on Goals HHR Delivered on H1 2019 Corporate Targets Corporate Target H1 Budget H1 Actuals Safety and Environment (TRIF) 0 recordable injuries (LTIs or TRIs) [Budget: LTIF < 0.1; TRIF <…
Light Oil Resource Growth Leader Industry Leading Organic Production Growth Production Growth Inception to Date 2019E Revenue (Including Hedging) 40 70% of Revenue from Liquids (1) and Forecast (Spend Within Cash Flow) Minimal…
2P Reserves Growth Profile Inception to Date Year-End 2018 Reserves (1) Reserves Overview (1) 407 mmboe (46% liquids) of P+P reserves; BT NPV 10 of 2.6BB PDP represents 18% of Total Proved volumes and 33% of Total Proved value…
Gold Creek 11-1-68-3W6M Pad Early production exceeding expectations 100/05-05 100/12-05 11-01 6-well Pad 100/13-05 100/06-05 102/13-05 Note: Inclining type curve a function of slow-back production practice All six pad…
Gold Creek Improving Top Tier Returns Gold Creek Well Results and Type Curve Liquids EUR Gas EUR Total EUR (Mbbl) (Bcf) (Mboe) Strong Velvet: results from (1) Strong results from high intensity Gold GoldCreek CreekGen GenI &…
South Karr Strong Results, Moving to Multi-Bench Development South Karr Well Results and Type Curve Liquids EUR Gas EUR Total EUR (Mbbl) (Bcf) (Mboe) S Karr Gen I Liquids S Karr Gen II EUR Gas EUR TotalEUR McDaniel Gen II Type…
Karr Improving Results Through Completion Optimization Karr Well Results and Type Curve Liquids Paramount 2016/17 Wells EUR Gas EUR Total EUR Hybrid SW 2.4 T/m Liquids (Mbbl) (Bcf) (Mboe) (40 m spacing) Increasing completion EUR…
Operating and Drilling Cost Trajectory Improved Efficiencies and Completions Innovation Operating Costs (/boe) Actuals Forecast 14.00 12.00 10.00 8.00 6.00 Higher Costs Due to Short-Term Facility 4.00 Constraints 2.00…
Ongoing Risk Management Initiatives Protecting Revenue and Managing AECO Exposure Active Commodity Hedging Program Market Diversification Strategy Gas Sales H1-19 Hedging Gains of 17mm Provided a Netback Uplift of 3.40/boe Natural Gas…
Midstream and Marketing Capacity in Place to Support Significant Growth T70 P Hammerhead Gold Creek 03-10 Battery 6.7 mboe/d Capacity(1) Hammerhead Gold Creek Oil Gathering and Sales Secured 11-12 Battery Hammerhead Gold Creek…
Leadership Team Proven Team with Extensive Experience 30+ years of oil and gas industry experience in a wide range of technical and management positions at Shell and Talisman Energy Scott Sobie Prior to the current assignment, Mr. Sobie…
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