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December 2019 Corporate Presentation – Bonavista Energy Corp

Bonavista Energy Corp · Dec 6, 2019 · 38 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. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 1
    www.bonavistaenergy.com TSX: BNP
  2. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 2
    Corporate Strategy Global Energy Consumption has Consistently Risen With Diverse Fuel Choices Global Energy Consumption Energy Consumption by Type & Region (2018) 5990 2830 2050 930 900 700 460 mtoe mtoe mtoe mtoe mtoe mtoe mtoe…
  3. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 3
    Corporate Strategy World Global demand for energy will increase by more than 25% by 2040 Energy Outlook Natural gas demand is projected to increase by more than 40% over 2018 levels in 16 years Global energy demand Global demand…
  4. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 4
    Corporate Strategy Abundant, Responsible Canadian Resources Available at Shorter Distances to Protect Our Global Climate Global LNG Supply-Demand Balance 650 600 New LNG supply needed 550 280 mmtpa from 2022 165 mmtpa…
  5. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 5
    Corporate Strategy Canada - A Leader in Lower Emissions Global CO2 Emissions - 2018 Upstream Oil & Natural Gas GHG Emissions in Canada (mtCO2e) Canadian 90 conventional oil & natural gas accounts 85 for 0.16% 80 of global…
  6. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 6
    Corporate Strategy Leader in Environmental Regulation and Compliance How comprehensive are the environmental laws Australia Canada(Alberta) Canada (Alberta) USA (North Dakota) USA (Gulf Coast) Brazil UK Norway Since 2008…
  7. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 7
    Corporate Strategy The worlds appetite for energy is escalating*. the world needs Energy produced the Canadian way is world class. We expect regulation and oversight. We more balance responsible resource development with the…
  8. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 8
    Corporate Overview www.bonavistaenergy.com TSX: BNP 8
  9. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 9
    Corporate Identity A CANADIAN COMPANY, PROUDLY AND EXPERIENCED RESPONSIBLY PROVIDING ENERGY TO CANADIANS FOR 22 YEARS. STRATEGICALLY OPERATING IN TWO UNIQUE CORE AREAS OFFERING EFFICIENT INVESTMENT FLEXIBILITY AND CONTINUED…
  10. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 10
    Experienced and Committed 22 Years of Operating in Western Canada more than 25 years average management industry experience 3,000 wells drilled in the WCSB 22 Years Supporting the Canadian Economy 9 2,200 more million…
  11. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 11
    Executing with Incremental Efficiency Continuous improvements in reserve addition costs has enhanced net asset value 2P FD&A* 3-year Cash Costs weighted costs (/boe) 3-year trailing* (/boe) Net Asset Value 12.00 18.00 12.00 3.00…
  12. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 12
    Executing with Environmental Responsibility Greenhouse Gas Emissions Energy Consumption Methane Emissions 1,400 85 30 Thousands Thousands Thousands GJs/year Tonnes (CO2e) Tonnes CH4/year 1,300 80 27 1,200 1,100…
  13. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 13
    Leveraging Technology to Protect the Environment Engaging and collaborating with all stakeholders Partner to develop a robust, continuous emission monitoring solution Real-time technology METHANE Big data analytics, cloud…
  14. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 14
    Committed to Asset Retirement Obligations (ARO) Consistent track record of liability retirement Abandoned 27% of 24% of corporate 150 5 year spend relative to YE2013 ARO (%) 60.0% inactive wells over liabilities retired 5…
  15. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 15
    2019 Philosophy Proven Sustainability 1,500 80,000 70,000 underspent cash flow from op. activities by 47% 2015 -18 1,200 60,000 reduced net debt* by 475 million Production (boe/d) improved 3-year FD&A* by 54% to…
  16. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 16
    2019 Q3 YTD Results 2019 Q3 YTD 2019 Actuals Guidance Production (boe/d) 63,504 62,000 63,000 Operating expense (/boe) 5.77 5.80 6.00 Operational Net capital expenditures ( millions) 106.6 110 120 Net wells 21.0 21.0 Adjusted…
  17. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 17
    2019 Revenue Diversity and Certainty % of Natural Gas Volumes 2019* Revenue Diversity 2019* Natural Gas Revenue Certainty Exposed to AECO Spot Pricing* 100% 10% AECO 90% 15% 80% 70% Dawn 2.73 60% /mcf 50% 36% 54% 76% 40%…
  18. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 18
    Asset Overview www.bonavistaenergy.com TSX: BNP 18
  19. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 19
    Concentrated Quality Asset Portfolio More than a pure play - two core areas add capital allocation flexibility ALBERTA Deep West 2019 Q3 YTD Basin Central Production (boe/d) 22,907 38,469 Liquids and Oil (% of total production) 13%…
  20. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 20
    West Central Alberta Acquired Assets Increasing West Central Land Position West Central Core Area Net sections acquired: 502 (60% adjacent to BNP lands) Average working interest: 62% Undeveloped Land in West Central (net…
  21. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 21
    West Central Alberta Acquired Assets Enhancing production quality and competitive development opportunities 12,000 20% Production (boe/d) % C3+ % Oil + Oil NGL Gas Acquired Asset Production %Gas 10,000 decline rate…
  22. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 22
    West Central Alberta Acquired Assets Capital and operating synergies Operating Expense Improvement Forecast* 12.00 Projecting30 % improvement* in operating expenses resulting from: 11.00 Proximity to BNP operations Alignment of…
  23. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 23
    West Central Alberta Acquired Assets Impact on abandonment and reclamation (A&R) liability LMR Impact* Inactive Liability Managing Liability The Acquired Assets Inactive liability for With a larger presence in have an LMR of…
  24. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 24
    West Central Alberta Acquired Assets 13,000 Improved debt leverage and net operating income 12,000 Invest 30 - 35 million 11,000 in E&D capital over the next two-years* Production (boe/d) 10,000 52% Net operating income…
  25. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 25
    Enhancing Asset Value in West Central Reliable, sustainable liquids rich resource in West Central core area 60,000 Stable production base declining at 23% Abundant access to egress for all products 50,000 Current production…
  26. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 26
    Enhancing Asset Quality in West Central Focusing on the Glauconite Drilled 12 gross wells in 2019 at Strachan and R9 R8 R7 R6 R5 R4 R3W5 Willesden Green T42 Expanding opportunity in Strachan and Willesden Green over past…
  27. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 27
    Enhancing Asset Quality in Deep Basin Infrastructure ownership enhances sustainability R21 R19 R17 R15 T57 Owned and operated infrastructure in place, capable of Pine Creek processing 275 mmcf/d Ansell Operating Area 2015 2018…
  28. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 28
    Enhancing Asset Quality with the Duvernay Growth in this emerging resource play Duvernay Total Production (boe/d) (well count, ) West 120,000 Production has Production (boe/d) Well Count 1,200 Shale 100,000 doubled in the 1,000…
  29. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 29
    Enhancing Asset Quality with the Duvernay Two well pad Bonavista has over 131,000 acres of prospective Duvernay lands 2-mile Type Curve 2-mile Type Curve licensed June 2019 Single Well Pad (per well) Value Capital* ( millions) 10.0…
  30. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 30
    Corporate Strategy in Uncertain Macro Environment Elevate asset quality Debt Manage reduction decline Enhance rate margins and Preserve efficiencies drilling inventory Q3 2019 Q1 2020F Q4 2019E Actuals Guidance Production…
  31. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 31
    APPENDIX www.bonavistaenergy.com TSX: BNP 31
  32. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 32
    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 8 Canadian…
  33. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 33
    2018 Performance 2018 Reserve growth in quality and quantity, notwithstanding moderate spending Natural Reserve Natural Percent 2P BT Oil Gas Total Category* Gas Gas NPV10 Liquids REPLACED of 2018 (Bcf) 184 total (Mbbls)…
  34. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 34
    2018 Performance Sustainable asset base supports strengthening our financial position 50% of AFF Invested Stable Production Enhanced Financial Flexibility 80,000 40,000 75,000 75,000 70,000 35,000 70,000 70,000 60,000 65,000…
  35. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 35
    2018 Performance Strategic A&D activity enhanced quality of asset portfolio Edmonton West Central Net property acquisitions and dispositions of 6.0 million Material assets acquired in West Central: +402 boe/d production 3…
  36. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 36
    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 7,000 1.4 REDUCING EMISSIONS LESS ARO LIABILITIES 3.0 C02e (MM…
  37. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 37
    ADVISORIES www.bonavistaenergy.com TSX: BNP 37
  38. December 2019 Corporate Presentation – Bonavista Energy Corp – slide 38
    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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