Corporate Overview Market Summary Ticker Symbol OBE Peace River Shares Outstanding MM 73 4,040 boe/d Q1 2020 Cold flow heavy oil Manage base production Market Capitalization MM 22 Net Debt MM 517 Enterprise Value MM 539…
Strategic Priorities Short-term Priorities Protect long-term asset value Temporarily shut-in uneconomic properties Temper new well production Defer development capital program Maintain liquidity Cost reduction initiatives…
Short-term Actions - Q2 2020 Taken in this Low Price Environment Temporarily Shutting-in Currently Uneconomic Production: Production Light Oil Heavy Oil NGLs Gas Area (boe/d) (bbl/d) (bbl/d) (bbls/d) (mcf/d) Cardium 576 438 - 23 692…
Investment Highlights Largest acreage holder in the Cardium Cardium is one of Canadas lowest cost light oil resources, with strong IRR and recycle ratios Strong well performance since the beginning of 2018 in the Willesden Green…
Cardium Development Program Focused on Delivering Strong Capital Returns Willesden Green Drilling prioritized to target highest return opportunities Focused Strong Economics Wells ranked by IRR with focus on recycle ratio…
Execute Operationally Crimson 2018/2019 Development Program Summary Willesden Green Peer Comparison Cumulative Oil Crimson Lake 2018-2019 Per Well Rates (33 wells) OBE 2018-2019 well 14-24 Pad (2 wells) 12-18 Pad (3 wells)…
Execute Operationally H1 2020 Development Program Crimson Lake 2020 H1 10 Well Program R8W5 3 kms INDEX MAP Early deliverability results from the first half program to 2 miles date have been particularly strong 12-26 Pad (3 wells)…
Cardium Growth & Operational Improvements Total Cardium Production Commentary 25,000 Our 2017-2019 drilling programs in Crimson Lake have A verage Daily Production (boe/d) 15% Liquids Growth delivered robust production growth…
Optimization Finding low cost, high value opportunities in our base Total Optimization Program Production Commentary 1,800 787 boe/d (71% Oil) Annual Average Proven 2019 1,600 2019 Summary 2020 8.4MM Capital spend 1,400 2019…
Crimson Lake Cost Reduction Trajectory Drill, Complete, Equip & Tie-In Costs (M) Commentary Construction Utilization and expansion of existing pads 4,000 to reduce construction and infrastructure costs (65) Construction timing…
Cardium Play Fairways A Large High-Graded Inventory West Pembina Central Pembina 132 R10W5 INDEX MAP 171 Type Curve Locations Type Curve Locations Well established Individual fairways and productive trend unit boundaries in…
Crimson Lake Near Term Focus Summary Economics Q1 2020 average production of 9,664 boe/d Total Capex (MM) 3.5 Obsidian Energy cornerstone for revitalized primary EUR (Mboe) 229 development on our Cardium acreage Banked oil from…
East Crimson Mid Term Focus Summary Economics Q1 2020 average production of 2,851 boe/d Total Capex (MM) 3.5 Continued Eastward extension of the successful EUR (Mboe) 203 Crimson Lake development program Oil IP365 (bbl/d) 136 Area…
West Pembina Mid Term Focus Summary Economics Q1 2020 average production of 4,492 boe/d Total Capex (MM) 3.2 Proven oil rich Cardium trend with undeveloped EUR (Mboe) 196 primary development acreage Oil IP365 (bbl/d) 148 Significant…
Central Pembina Long Term Focus Summary Economics Q1 2020 average production of 4,732 boe/d Total Capex (MM) 2.5 The epicenter of low decline and pressure maintained EUR (Mboe) 290 development Oil IP365 (bbl/d) 73 Strong technical…
Peace River Oil Partnership (PROP) Summary PROP Q1 2020 average production of 4,040 boe/d R25 R20 R15W5 Large contiguous heavy oil resource developed with T90 cold-flow, multi-leg horizontal wells Reliable and steady base…
Corporate Cost Improvements Corporate Opex Commentary Operating Costs Total reduction in Opex per boe of 21% from 2017 to Q1 2020 Further Opex Improvements Take advantage of Crimson Lakes low operating costs with continued…
Decommissioning Liability Improvement Commentary YTD Well Abandonment Costs Wa inwright 2019 C a rdium 2019 Obsidian Energy is a participant and supporter of 115 Wells 12 Wells the AERs Area-Base Closure (ABC) program 5.0 0.8 50%…
Current Hedge Strategy and Position Hedging Strategy Hedge up to 50% of production volumes after royalty Hedge at price levels to: Protect FFO Support economic capital program Potential debt repayment Hedges are done on a CAD…
Environmental, Social & Governance Environmental Social Governance Obsidian Energy is committed to Obsidian Energy is committed to Obsidian Energy makes it a minimizing the impact of our making a positive impact in the priority to…
Experienced management and strong technical team Stephen E. Loukas, Interim President and Chief Executive Officer Financial and commercial Vast experience in corporate transactions, capital markets, corporate finance Strong financial,…
Loading...
