TSX: JOY Corporate Presentation March, 2020 exploring new roads
Snapshot 9,300 boe/d balanced producer; 49% liquids(1) 17% corporate decline; interest in early stage oil resource play (funded by others for near term) 167 million enterprise…
Why Journey Why JOY 150 gross sections of Duvernay lands concentrated in the oil window World Class World class partner with proven expertise Duvernay 37.5% WI in commercial development Basin leading performance from three…
Manage Spending with Funds Flow for 2020 2017 2018 2019 2020 Operating Highlights Actual Actual Actual H1 Guidance Production Average (boe/d) 9,962 10,075 9,372 9,200 9,400 Oil and NGLs (%) 46% 47% 48% 49% Corporate Decline Rate…
Base Core Areas Southern Core Area (5,200 boe/d; 41% oil and NGLs(1) ) Key properties at Skiff, Matziwin, Herronton and Countess Brooks Edmonton Waterflood expansion, extensive Red Deer drilling upside Low decline base…
Base - 2019 YE Reserves Summary Gross Company (WI) Reserves(1) Oil Gas NGLs Reserve Category Mboe RLI (Mbbl) (Bcf) (Mbbl) Proved Developed Producing 8,603 75.5 2,306 23,494 7.2 Total Proved 13,521 99.2 3,368 33,422 9.6 Proved +…
Conventional - Economic Plays World class JV partner DUVERNAY Tested Option well phase completed by summer 2020 CONVENTIONAL Duvernay Optionality on funding for 20 well early BASE Resource development phase 3.58/P+P boe…
Conventional 25 Years of Drilling Booked Conventional(3) 194 million in Capital Journeys inventory includes 194 gross (182 net)(1)(2) horizontal Waterflood oil locations Other HZ & Vertical Horizontal Oil Multi-Stage Only 33%…
Duvernay - Emerging World Class Resource Initiate commercial development (JOY 37.5% WI) Initial 2 yrs of joint operations: max. 10 wells/yr 2021 During initial 2 yr phase, per well option to & participate at 37.5% WI or take 5%…
Duvernay World Class Partner Kiwetinohk Resources Corp. JV WI: KRC 62.5% / JOY 37.5% Initial 2 yr. Joint Wells: 10 wells/yr. max. Development Per well option to participate at 37.5% WI or take 5% NCGORR on 100% of production…
Duvernay Oil Fairway Defined and Sweet Spot Captured Emerging East Shale Duvernay Sweetspots (200 bbl/d Oil Peak Rate) Widespread Journey 50-100% Owned Infrastructure West Shale Basin Westerdale Sub basin 3 JV wells top tier…
Duvernay JV Wells Among East Basin Leaders Source: Journey and Geoscout 15
Duvernay Resource Captured Resource Characterization Thick Duvernay Shale Reservoir widespread over JV block Thick and consistent reservoir rock in a light oil hydrocarbon fairway; Oil sweet spot is expanding with additional…
Appendix- Content Hedging Finding, Development and Acquisition Costs Drilling inventory Central Region Central Region Edmonton South Region Red Deer Calgary South Region Strong Governance Experienced Management 17
Hedging Oil Contracts Contract Volume Reference Contract Price Term Type bbls/d Price S/bbl Diff swap 500 WTI/USD (6.50) Calendar 2020 Swap 500 WTI/CAD 74.25 January to September 2020 Collar 500 WTI/CAD 66.00 81.00 Calendar 2020…
Finding, Development & Acquisition Costs For the years ending December 31, 2017 to December 31, 2019(1) 2017 2018 2019 (3 Yr) Acquisitions and Divestiture Capital (millions) 33.3 (5.1) (0.3) 27.9 Exploration and Development Capital…
Central Region Conventional Horizontal Oil Well Drilling Locations(2) Booked(1) Unbooked(3) Property Formations Gross Net Gross Net Poplar Creek/ Belly River 5 4.5 9 7.4 Westerose Cherhill Banff 6 5.4 2 1.8 Crystal Viking…
South Region Conventional Horizontal Oil Well Drilling Locations(1) Booked(2) Unbooked(3) Property Formations Gross Net Gross Net Matziwin Glauconite, Colony 14 14.0 21 20.0 Skiff Sawtooth 15 15.0 16 15.9 Countess /…
Board of Directors - Strong Governance Howard Crone Chairman of the Board Director of Cequence Energy Ltd. and Karve Energy Inc. Also a member of Journeys Audit, Reserves and Compensation/Governance committees Dana Laustsen…
Experienced Management Team Alex G. Verge, P.Eng., M.Eng. President and Chief Executive Officer, and Director Over 37 years of experience: Seven years as Director of Journey (six as CEO), President and CEO of NuVista Energy, VP…
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