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March 2020 Investor Presentation – Cardinal Energy Ltd.

Cardinal Energy Ltd. · Mar 17, 2020 · 19 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. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 1
    TSX: CJ March 2020 Investor Presentation
  2. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 2
    Our Strategy 1. Reduce operating costs/increase netbacks 2. Reduce net debt to 1X 3. ARO impact spend Increase Free Cash Flow 2 Cardinal Energy Ltd. TSX: CJ
  3. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 3
    Go Forward Increase Sustainability Reduce Risk Goal 2019 Result Goal 2019 Result 1. Firm up our ability to Increased our drilling inventory 1. Pay down our debt Reduced net debt by 22 million replace production by earning land thru…
  4. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 4
    Decline Rates Exhibit 11: 2019E Conventional Decline Rates Cardinal 10% 50 45 40 35 Corporate Decline Rate (%) 30 Average: 28% 25 20 15 10 5 0 PSX OBE FRU ATH ECA PONY PEY CR…
  5. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 5
    2019 Reserves Summary Our capital allocation philosophy at Cardinal is to enhance our ability to sustainably increase shareholder returns. This meant taking a hard look at all of our operating metrics and concentrating on those which…
  6. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 6
    2019 Reserves Reserves per Share Growth Debt Adjusted Reserves per Share (1)(2)(3) Year End 2019 Year End 2018 % Change Reserves/Share % Change % Change Basic Diluted Basic Diluted (boe/debt adjusted share) Basic Diluted Proved…
  7. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 7
    2019 Reserves NPV10 per Share Growth Debt Adjusted NPV10 per Share (1)(2)(3) Year End 2019 Year End 2018 % Change NPV10/Share % Change % Change Basic Diluted Basic Diluted (/debt adjusted share) Basic Diluted Proved Producing…
  8. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 8
    Drilling Inventory Multi-year inventory Cardinal (500 identified locations/105 booked) Light and medium oil Conventional play types Horizontal multifrac, multilateral and vertical inventory Extensions and infills of North (105/31)…
  9. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 9
    Cardinal Production Trend Daily Field Net Production (BOEPD) House Mountain Turnaround (October) South AB Turnaround (Scots Lake) and Jenner Power Outages Midale Turnaround South AB New Drills (September) Self-Curtail on…
  10. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 10
    Cardinal (Sustainable Asset ) 2020 Budget and Statistics NOI Capex FCF* (155-165MM) (60-65MM) (40-45MM) North 21% 25% 28% 19% 26% 30% 39% 25% 16% Central 24% 22% 26% Production Drilling Drilling Inventory (20.5-21.5…
  11. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 11
    Total Production Daily Net Sales (BOEPD) 25,000 20,000 Rate (BOEPD) 15,000 10,000 5,000 0 Jan-17 Mar-17 May-17 Jul-17 Sep-17 Nov-17 Jan-18 Mar-18 May-18 Jul-18 Sep-18 Nov-18 Jan-19 Mar-19 May-19 Jul-19…
  12. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 12
    North (Sustainable Asset) 2020 Budget and Statistics NOI Capex FCF* (155-165MM) (60-65MM) (40-45MM) 26% 30% 19% Production Drilling Drilling Inventory (20.5-21.5 mboe/d) (wells) ( of potential locations) Low decline,…
  13. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 13
    Northern Alberta (Stable Light Oil) Daily Net Sales (BOEPD) 9,000 8,000 7,000 6,000 Rate (BOEPD) 5,000 4,000 3,000 2,000 1,000 0 Jan-18 Mar-18 May-18 Jul-18 Sep-18 Nov-18 Jan-19 Mar-19 May-19 Jul-19…
  14. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 14
    Central (Sustainable Asset ) 2020 Budget and Statistics NOI Capex FCF* (155-165MM) (60-65MM) (40-45MM) 25% 28% 21% Production Drilling Drilling Inventory (20.5-21.5 mboe/d) (wells) ( of potential locations) Low…
  15. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 15
    Central Alberta (Waterflood Management and Optimization) Daily Net Sales (BOEPD) 6,000 5,000 4,000 Rate (BOEPD) 3,000 2,000 1,000 0 Jan-18 Mar-18 May-18 Jul-18 Sep-18 Nov-18 Jan-19 Mar-19 May-19 Jul-19…
  16. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 16
    South 2020 Budget and Statistics NOI Capex FCF* (155-165MM) (60-65MM) (40-45MM) 39% 25% 16% Production Drilling Drilling Inventory (20.5-21.5 mboe/d) (wells) ( of potential locations) Light, Medium Oil focus Area based…
  17. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 17
    South Alberta (Predictable Development Drilling and Optimization) Daily Net Sales (BOEPD) 7,000 6,000 5,000 Rate (BOEPD) 4,000 3,000 2,000 1,000 0 Jan-18 Mar-18 May-18 Jul-18 Sep-18 Nov-18 Jan-19 Mar-19…
  18. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 18
    Midale (Low Decline, Free Cash Flow Asset) 2020 Budget and Statistics NOI Capex FCF* (155-165MM) (60-65MM) (40-45MM) 24% 22% 26% Area inventory Drilling…
  19. March 2020 Investor Presentation – Cardinal Energy Ltd. – slide 19
    Midale, Saskatchewan (Waterflood Management and Optimization) Daily Net Sales (BOEPD) 4,000 3,500 3,000 Rate (BOEPD) 2,500 2,000 1,500 1,000 500 0 Jan-18 Mar-18 May-18 Jul-18 Sep-18 Nov-18 Jan-19…

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