Oil-Weighted Stability February 2020 Corporate Presentation
About PRAIRIE PROVIDENT Oil and liquids-focused Alberta E&P with three core areas (Michichi/Wayne, Princess & Evi) which offer significant torque to oil prices Production weighted 68% to oil & liquids with low base decline 80%…
PPRS FOCUSED STRATEGY Development of conventional oil and liquids plays across core Michichi/Wayne, Princess and Evi areas that offer compelling economics Maintain capital spending levels to approximate adjusted funds flow(1); remain…
PPR STRATEGIC HIGHLIGHTS Increased size, scale and self-funded growth potential PPR Snapshot(1) affords opportunity to command increased market awareness 6,071 boe/d Average 2019 production(2)(3) (68% liquids) 2019 capital…
PPR 2019 HIGHLIGHTS Competed 4 development wells, two each at Princess and Evi with a 100% success rate Advanced Evi waterflood resulting in incremental reserves assigned to future waterflood expansions Executed a modest 2019 capital…
2019 RESERVES HIGHLIGHTS Volumes Value 2P Reserves per As at December 31, 2019 (Btax) Basic Share(1)(3)(4) Conventional Natural Gas(2) Conventional Light & (other than Natural Gas Natural Gas Barrels of Oil +28% Medium Oil Heavy…
MANAGEMENT TEAM AND BOARD Management Board of Directors Tim S. Granger, President & CEO Patrick R. McDonald, Chairman CEO at Molopo Energy Limited, President and CEO at Compton Petroleum Corporation, COO at Paramount Energy, Managing…
CURRENT ASSET OVERVIEW KEY FOCUS AREAS EVI 34.5 MMboe Michichi/Wayne Lower cretaceous oil/gas Proved + Probable Reserves(1) Year round access Hz development 635,000 Princess PPR Total Net Acres Multi-zone potential Lithic…
PRINCESS (3) Current production(1): 1,350 boe/d of medium crude oil Revenue/boe(2) 41.68 Opex/boe(2) 9.63 Royalty/boe(2) 7.67 Operating Netback(2)(3) 24.38/boe Activity: Drilled and tied in 2 wells in 2019 adding 1.3MMboe of…
EVI Current Production(1) : 1,720 boe/d of light oil Revenue/boe(2) 61.61 Otter WF Opex/boe(2) 21.01 Royalty/boe(2) 6.70 Operating Netback(2)(3) 33.90/boe Future Outlook: Further advance waterflood development Evi WF Continue…
EVI At Evi, PPR has transitioned its depletion plan from infill Production Plot of CURRENT WF drilling to waterflood. That transition has resulted in changes to reserves and future capital. Incremental 1.5 MMboe and 1.2 MMboe of…
MICHICHI Merger with Marquee Energy created one large contiguous field including an Current Banff operated oil battery tied to sales, and 2 Development Area operated gas plants Current production(1): 2,140 boe/d of medium crude…
CURRENT BANFF 15-16-32-17W4 Q1 Drill 15-16-32-17W4 Q1 Drill DEVELOPMENT AREA Current production(1): 700 boe/d of medium Existing Battery crude oil Revenue/boe(2) 40.99 Waterline already Opex/boe(2) 14.11 constructed…
DRILLING INVENTORY Princess Princess Average Type Well Economics(1)(2) Glauconite(3) Ellerslie(3) Princess Detrital(3) Michichi/ Banff(4) Drill, Complete, Equip & Tie-in (MM) 2.0 2.2 1.0 2.2 Production, IP30 (boe/d) 460 boe/d 105…
WATERFLOOD INVENTORY Evi East Evi Battery Evi Otter Michichi Banff Development Economics(1)(2) Waterflood(3) Waterflood(3) Waterflood(3) Waterflood(4) Capital (MM) 4.7 5.6 5.1 0.7 EUR (mboe) 260 mboe 430 mboe 545 mboe 290 mboe…
ACTIVE RISK MANAGEMENT PPRs conservative approach to hedging employs a 12 to 18-month program designed to respond to backwardation in forward prices 80% hedged of forecast 2020 base oil volumes (net of royalties) Oil Hedges Gas…
ECONOMICS SENSITIVITIES PPRs hedge strategy provides meaningful protection for downside price movements Market Price Blended WTI (US) from Hedged and WTI (US) Unhedged Production 45 49.50 50 51.61 55 54.71 60 57.78 65 60.15…
WHY INVEST IN PPR PPR trading at Compelling value opportunity 25% of PDP NAV(2) Focused on returns Disciplined approach to capital allocation and focus on projects that provide the highest IRR Asset portfolio returns support…
SUMMARY OIL-WEIGHTED PRODUCTION & RESERVES Oil & liquids focused E&P executing a stable, returns-based strategy Attractive Assets Capital Management 6,071 boe/d production average in 2019 Conservative capital program balanced with…
ADVISORIES Oil and Gas Metrics and Non-IFRS Measures (contd) Drilling Opportunities. The drilling opportunities referenced in this presentation include booked locations to which reserves were assigned by Sproule Associates Limited,…
ADVISORIES Reserves Data Disclosure Figures provided in this presentation as to proved reserves and probable reserves volumes, and net present value of related future net revenue, are estimates of such volumes and values as at December…
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