TSX: NVA Returns-Focused Sustainable Growth Corporate Presentation June 2021
NuVista Corporate Snapshot Production (MBoe/d) Corporate Information Operations 60 TSX Trading Symbol NVA NuVista Montney Shares Outstanding 226.2 Million 50,000+ 40 Total Credit Capacity1 480 Million 20 Boe/d 0 2016 2017 2018…
CORPORATE STRATEGY NuVista: Focused on Returns Top Quality Assets Financial & Execution Strength Wapiti: Free cash flow engine Step-change in debt reduction: Pipestone: Returns-driven growth 94 million non-core asset sales 30%…
TOP QUALITY ASSETS Significant High-Quality Inventory Supports Top-Tier Development Pipestone Wapiti Top-Tier Asset With Measured Growth Free Cash Flow Engine Excellent returns & capital efficiencies Cash flow driven by low…
EXECUTION FOCUS 2021 Activity Update: Capex Focused on the Drill-bit; Pipestone-Centric Program in Full Swing 1 Pipestone 12-Well Pad Material New Well Additions Throughout the Year 1 Q1 On-Stream 4 3 2 Pipestone 6-Well Pad 3 Q2…
EXECUTION FOCUS Pipestone North Volume Growth Underway Pipestone Very Rich Type Curve New 6-17 Pad (12 Wells) P10-P90 Actual Data 6-17 Pad Avg. Pipestone Very Rich TC Cumulative Gas Production1 (mmcf) 150 Initial Production…
EXECUTION FOCUS Recent Cost Performance Continues to Drive Improved Capital Efficiencies & Returns Drilling Cost Going Longer for Less Completion Cost Intensity Up, Costs Down 2,400 3,600 1,500 3.0 Proppant Intensity (Tonnes)…
EXECUTION FOCUS Driving Down Cycle-Time Positive Impact on Returns Spud to on-stream times down…
EXECUTION FOCUS Free Cash Flow Driven by Efficient Capital Deployment and Rapid Netback Expansion Avg. Annual Capital Expenditure Allocation Cash Cost Reduction = Netback Expansion1 Cash Costs Netback 20 DCET 15% Other…
TOP QUALITY ASSETS Value Based Capital Allocation to Top-Tier Incremental Economics Wapiti: Type Well Rate of Return Type Well Payout Robust economics support free 175% 50/Bbl WTI 55/Bbl WTI 1.5 50/Bbl WTI 55/Bbl WTI cash flow…
OPTIMAL GROWTH PROFILE Capacity Profile: Flexibility to Set Our Capital Program Commensurate with Price Environment Why Grow On-track for 15-20% CAGR Maintain Flat Maximize free cash flow 450 through to 2024 100,000 Production &…
OPTIMAL GROWTH PROFILE Material Change in Corporate Trajectory in 2022 Drives Significant Free Cash Flow 2022 Outlook: Corporate Production Outlook Corporate Free Cash Flow Outlook3 100 300 80% year-over-year cash flow growth 75…
FINANCIAL STRENGTH Material Liquidity and Improving Financial Leverage Total Senior Notes: Credit Capacity1: C480 MM C220 MM Senior Debt Termed Out to 2023 156 - - - 220MM 2020 2021 2022 2023 324 Material liquidity with no…
FINANCIAL STRENGTH Condensate Pricing Market: Supply & Demand Fundamentals Western Canadian demand far exceeds domestic supply = Premium pricing over the long-term Continued demand growth & potential Southern Lights pipeline reversal…
FINANCIAL STRENGTH Market Diversification & Risk Management Program Natural Gas Price Diversification Active marketing program Hedged NYMEX Floating Chicago Floating California Floating Dawn Floating AECO Floating Pct. of…
NuVISTAS COMMITMENT ESG-Focused Culture1 Environmental Governance NuVista GHG Emissions 2012-2019 Over 50% Reduction Exec. Comp. Alignment Compensation tied to business & ESG performance 0.07 In Annual Greenhouse Gas Emissions…
CORPORATE STRATEGY NuVista: Focused on Returns Top Quality Assets Financial & Execution Strength Wapiti: Free cash flow engine Step-change in debt reduction: Pipestone: Returns-driven growth 94 million non-core asset sales…
Thank you
Advisory Regarding Oil and Gas Information ADVISORY REGARDING OIL AND GAS INFORMATION ECONOMIC INPUT ASSUMPTIONS The reserves estimates for 2020 presented herein have been evaluated by NuVista's type curve based on management's best…
Abbreviations and Definitions physical storage and trading hub for natural gas AECO DCET drilled, completed, equip and tie-in MCF thousand cubic feet in Alberta Avg average DUCS drilled uncompleted wells MM million B billion E estimate…
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