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4Q 2019 Earnings Presentation – Bonavista Energy Corp

Bonavista Energy Corp · Mar 12, 2020 · 35 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. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 1
    www.bonavistaenergy.com TSX: BNP
  2. 4Q 2019 Earnings 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. 4Q 2019 Earnings 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. 4Q 2019 Earnings 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. 4Q 2019 Earnings 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. 4Q 2019 Earnings 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. 4Q 2019 Earnings 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. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 8
    Corporate Overview www.bonavistaenergy.com TSX: BNP 8
  9. 4Q 2019 Earnings 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. 4Q 2019 Earnings 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. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 11
    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…
  12. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 12
    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…
  13. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 13
    Committed to Asset Retirement Obligations (ARO) 2010 - 2019: A decade of executing our business plan responsibly 3.3 billion E&D 50 million future liabilities created 198 million directed to retiring capital expenditures with 3.3bn…
  14. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 14
    2020 Philosophy Consistent Performance Improvement 2016-19 2020* reduced net debt* by 8% maintained PDP reserves while spending only Enhance Sustainability 85% of adjusted funds flow* debt reduction improved 3-year PDP FD&A* by…
  15. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 15
    2019 Performance 2019 Reserve growth in quality and quantity while spending within AFF* Natural Gas Reserve Category* Natural Gas Oil Total Percent Gas Liquids (Bcf) (Mbbls) (Mbbls) (Mboe) (%) Maintained 2018 609 3,713 43,415…
  16. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 16
    2019 Performance Enhanced quality of asset portfolio with both E&D and A&D activity Support Capital* December, 2019 2P Reserves 2P BTNPV10 20% Production Additions* (GLJ Jan 1, 2020) 26% (boe/d) (mboe) A&D 6,460 boe/d 35.6 mboe…
  17. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 17
    2020 Revenue Diversity and Certainty 2020* Revenue Diversity 2020* Natural Gas Revenue Certainty 2020/2021* NGL Contracts: Improved Pricing 9% Differentials AECO 18% Propane pricing discount to Conway has been improved by 25-30%…
  18. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 18
    Asset Overview www.bonavistaenergy.com TSX: BNP 18
  19. 4Q 2019 Earnings 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 Basin Central Production (boe/d) 21,926 39,269 Liquids and Oil (% of total production) 12% 40%…
  20. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 20
    Enhancing Asset Value in West Central Reliable, sustainable liquids rich resource in West Central core area 60,000 Stable production base declining at 21% 50,000 Current production inclusive of acquired asset Abundant access to…
  21. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 21
    West Central Alberta Acquired Assets Acquisition meaningfully increased West Central land position West Central Core Area Net sections acquired: 502 (60% adjacent to BNP lands) Average working interest: 62% West Central…
  22. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 22
    West Central Alberta Acquired Assets Enhancing production quality and competitive development opportunities 14% Production % C3+ % Oil + 10,000 decline rate %Gas Production (boe/d) (Dec 2019) Liquids Cond Acquired Asset…
  23. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 23
    Enhancing Asset Quality in West Central 2020 Focus on Strachan Glauc Six WellsR7W5 Planned for 2020* 2020 plans* include drilling six (5.3 net) Strachan Glauc wells further extending lateral lengths T38 Average Production per…
  24. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 24
    Enhancing Asset Quality in West Central 2020 Focus on Morningside Falher Two Wells Recent acquisitions have enabled plans to drill two (2.0 net) Planned extended reach Morningside Falher wells in 2020 for 2020* Average…
  25. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 25
    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 2019…
  26. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 26
    Enhancing Asset Quality in Deep Basin 2020 Focus on Notikewin R19 2020 plans* include two (2.0 net) Notikewin wells Drill & Complete Cost 2P Reserves Lateral Length Two Wells (Avg per well, millions) (Avg per well, mboe) (Avg per…
  27. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 27
    Enhancing Asset Quality with the Duvernay Growth in this emerging resource play Duvernay Total Production (boe/d) (well count, ) West 140,000 Production has Production (boe/d) Well Count 1,400 Shale 105,000 doubled in the 1,050…
  28. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 28
    Enhancing Asset Quality with the Duvernay Two well pad Bonavista has over 135,000 acres of prospective Duvernay lands 2-mile Type 2-mile Type licensed June 2019 Curve Curve Single Well Pad (per well) BNP H2 2019 location Two wells…
  29. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 29
    Corporate Strategy in Uncertain Macro Environment Enhance Debt margins and reduction efficiencies Enhance sustainability Elevate asset and product quality * Refer to Advisories Referenced by Slide Number…
  30. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 30
    2020 Guidance 2020 2019 Guidance Actuals Production (boe/d) 62,000 65,000 63,357 Natural gas (%) 70% 70% Natural gas liquids & oil (%) 30% 30% Operating Expense (/boe) 6.00 7.00 5.76 Net Capital Expenditures* (millions) 100 120…
  31. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 31
    APPENDIX www.bonavistaenergy.com TSX: BNP 31
  32. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 32
    Strengthen Financial Position Debt structure maturity and F/X hedging profile 250 Next maturity 200 November, 2020 Bank credit facility - 500 million CDN Bank credit facility, matures September 10, 2021 150 8 Canadian banks in…
  33. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 33
    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…
  34. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 34
    ADVISORIES www.bonavistaenergy.com TSX: BNP 34
  35. 4Q 2019 Earnings Presentation – Bonavista Energy Corp – slide 35
    CONTACT US Phone: (403) 213-4300 Email: investor.relationsbonavistaenergy.com ADDRESS 1500, 525 8th Ave. SW Calgary, Alberta T2P 1G1 REGISTRAR AND TRANSFER AGENT Odyssey Trust Calgary, Alberta STOCK EXCHANGE LISTING The Toronto Stock…

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