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November 2021 Corporate Presentation – Peyto Exploration & Development Corp

Peyto Exploration & Development Corp · Nov 19, 2021 · 57 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. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 1
  2. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 2
    New To Peyto Who We Are PEYTO Exploration & Development Corp. N 5th Largest Canadian Gas Producer 600 MMcfe/d N 11th Largest Canadian Gas Processor 875 MMcf/d capacity N Pure Play Alberta Deep Basin Multizone stacked resource, 5…
  3. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 3
    PEY.TO 20 Year Growth Per Share PEYTO Exploration & Development Corp. Historical Per Share (or unit) and Shares (units) Outstanding numbers have been adjusted to reflect the May 27, 2005 2:1 stock split 4 BOE factor - 6 mcf = 1…
  4. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 4
    PEY.TO Total Shareholder Return Model PEYTO Exploration & Development Corp. Organic growth for LNG exports Future Prospects Past Profits 5 BOE factor - 6 mcf = 1 bbl of oil equivalent 11/19/2021
  5. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 5
    PEY.TO We Heat Your Homes PEYTO Exploration & Development Corp. Natural Gas X X Safe Reliable Affordable 6 https://www.efficiencyalberta.ca 11/19/2021 http://www12.Statcan.gc.ca
  6. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 6
    PEY.TO Environmental Leader PEYTO Exploration & Development Corp. Notes: Intensities are based on total subsector emissions and relevant production amounts. They represent overall averages, not facility intensities. *Calculated on…
  7. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 7
    PEY.TO Continuously Improving Emissions PEYTO Exploration & Development Corp. Peyto GHG Emissions Intensity 29.0 26.0 24.7 23.9 22.3 21.1 19.8 19.6 2013 2014 2015 2016 2017 2018 2019 2020 in GHG Emissions Intensity*…
  8. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 8
    PEY.TO Less Impact on Land and Water PEYTO Exploration & Development Corp. Peyto Land Use Reduction 2.1 2.0 1.9 1.8 1.7 1.7 1.6 1.5 2013 2014 2015 2016 2017 2018 2019 2020 in Surface Land Use ha per well (cumulative…
  9. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 9
    The Peyto Strategy PEYTO Exploration & Development Corp. 10 11/19/2021
  10. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 10
    The Peytos Strategy What We Continue To Believe PEYTO Exploration & Development Corp. N Natures gas is the fuel for the future. N Our gas and NGLs have some of the lowest emissions of any hydrocarbons produced in Canada. N Our…
  11. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 11
    The Peytos Strategy Growing North American Gas Market PEYTO Exploration & Development Corp. North America Gas Consumption (BCF/d) (BP Statistical Review of World Energy 2019) 140 140 120 120 100 100 32% growth 80 2008-2018…
  12. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 12
    The Peytos Strategy Canadian Gas Egress Is Expanding PEYTO Exploration & Development Corp. Dry Natural Gas Production - Canada 25 (EIA) 9 LNG Export 8 2.0 Bcf/d 7 LNG Canada 20 6 NGTL Expansion 5+40% BCF/D 4 15…
  13. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 13
    Peyto FFO CTD Q4/20 CTD Q4/20 Peyto Capital Fund Growth From Cashflow The Peyto Strategy 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 Q4 1999 Q2 2000 Q4 2000 Q2 2001 Q4 2001 Q2 2002 Q4 2002 Q2 2003 Q4…
  14. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 14
    The Peyto Strategy Invest For Profit Not Growth PEYTO Exploration & Development Corp. 800 700 600 500 400 Peyto Capital 300 CTD Q4/20 200 100 - 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 (100) CAPEX (MM)…
  15. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 15
    The Peyto Strategy Dividend Sustainability PEYTO Exploration & Development Corp. 3,000 2,500 2,000 Peyto Ctd. Earnings (MM) 1,500 Q4/20 1,000 500 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009…
  16. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 16
    The Peyto Strategy 22 Year Cycle of Value Creation PEYTO Exploration & Development Corp. 6.40B Capital Investment 55% retained FFO YE 2020 26% equity 18% debt 2P NPV5 2.55B 8.65B Value Earnings 6.992B 2.46B in div/dist 0.38B to…
  17. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 17
    Peytos Profitable Business PEYTO Exploration & Development Corp. 18 11/19/2021
  18. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 18
    Peytos Profitable Business Build it for less than we sell it PEYTO Exploration & Development Corp. 2014 2015 2016 2017 2018 2019 2020 2020 Land/Acq/Disp Seismic Drilling PDP FD&A /mcfe (2.25) (1.64) (1.44) (1.36) (1.18) (1.55)…
  19. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 19
    Peytos Profitable Business Lowering The Bar PEYTO Exploration & Development Corp. AECO 10 Monthly /GJ Peyto Realized Gas Price (/mcfe) 35% Avg. 8 Profit CTD Lowest realized price ever, but also lowest total supply cost…
  20. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 20
    Peytos Profitable Business Peytos Moat is a Low-Cost Advantage PEYTO Exploration & Development Corp. 2.30 4.77 (0.24) 1.36 21 BOE factor - 6 mcf = 1 bbl of oil equivalent Data from Peters & Co. 11/19/2021 Gas…
  21. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 21
    Peytos Profitable Business High Operating Margins PEYTO Exploration & Development Corp. 90% 9.00 80% 8.00 70% 7.00 60% 6.00 50% 5.00 40% 4.00 30% 3.00 20% 2.00 Peyto Operating Margin 10% 1.00 0% 0.00 Last 20 Year Avg.…
  22. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 22
    Peytos Unique Assets PEYTO Exploration & Development Corp.
  23. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 23
    Peytos Assets Geographically Focused Core Areas PEYTO Exploration & Development Corp. 597,338 net acres (Q321) 10 operated gas plants - Cutbank --(875 mmcf/d net capacity) 2,000+ km pipelines 1,442+ producing zones Kakwa 100,000…
  24. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 24
    Peytos Assets PEYTO Deep Basin Permeability Segregation Exploration & Development Corp. FOOTHILLS STRUCTURES GAS AS ING INCRE BILITY EA PERM WATER TRANSITION ZONE WATER GAS ASE INCRE AREA OF GAS DEPTH…
  25. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 25
    Peytos Assets Multi Zone Stacked Sandstone Reservoirs PEYTO Exploration & Development Corp. Up to per section* 26 *NGL recoveries can increase by 15+ bbl/mmcf with deeper cutting processing facilities 11/19/2021 Reserves are…
  26. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 26
    Peytos Assets Cecilia Acquisitions 35MM Effective Jan 1/21 PEYTO Exploration & Development Corp. October Peak Rates: Base: 2,900 boe/d Cecilia Gas Plant 12-34-56-22W5 Ownership: 100% WI New: 10,100 boe/d (12 new wells Current…
  27. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 27
    Peytos Assets 1 Horizontal Deep Basin Driller PEYTO Exploration & Development Corp. Alberta Deep Basin Hz Spuds 1,200 Peyto spud its 1,000 th Hz w ell on Sept. 25, 2020 1,000 800 600 400 200 Peyto Deep Basin 0 Horizontal…
  28. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 28
    Peytos Assets PEYTO Large Hz MSF Inventory Exploration & Development Corp. Done1 To Do Total Total Total Total Hz(Vt) Hz Locations Vertical Hz Locations Unbooked3 Wells Wells Booked2 2 (2) 440 200 459(9) 424 5 1 1 4 1 2…
  29. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 29
    Peytos Assets Deep Basin Lands Go A Long Way PEYTO Exploration & Development Corp. 1,000 Peyto Lands 900 800 700 Net Sections 600 Net Peyto Sections 500 400 300 200 100 - Net Sections of Cardium, Dunvegan,…
  30. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 30
    Peytos Assets Increased Facility Ownership And Control PEYTO Exploration & Development Corp. Cutbank Kakwa Cecilia Peyto Gas Plants Oldman (with Deep Cut) W & Oldman North Wildhay Nosehill YE 2020 WI 1 Oldman 125 mmcf/d…
  31. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 31
    Peytos Assets Big Sunny Natural Gas Storage Scheme PEYTO Exploration & Development Corp. R.25 R.24 R.23 R.22 R.21 R.20 R.19 R.18 Nosehill Creek North Cecilia Meter Station 139 mmcfd Capacity T.56 T.56 Obed North Oldman…
  32. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 32
    Peytos Assets Unique Infrastructure Location PEYTO Exploration & Development Corp. Alliance Cecilia Oldman & Oldman North Nosehill Wildhay Big Sunny Galloway Swanson 240 kV Power Lines Highway 16 Cascade Power…
  33. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 33
    Peytos Assets Successful Reserves Conversion, Again PEYTO Exploration & Development Corp. Actual/ Booked Forecast Actual Reserve Total Booked/ Forecast Locations Forecast Outcome Cost per Actual Outcome Cost per Year Drills Total…
  34. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 34
    Peytos Assets Long Producing Reserve Life Maintained PEYTO Exploration & Development Corp. Peyto Reserve Life Index 35 27 Years at Q4 Production 30 25 20 18 15 10 9 5 Peyto PDP RLI 0 2004 2005 2006…
  35. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 35
    Peytos Assets Albertas Gas Developer PEYTO Exploration & Development Corp. 8,000 7,000 6,000 1,787 5,000 27% 15% CAGR 1,572 4,000 CAGR 7,041 3,000 1,647 2,000 1,000 2,034 TCFe of Discovered Reserves 0 Cum Production…
  36. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 36
    Peytos Assets What Shareholders Currently Own PEYTO Exploration & Development Corp. Tangible Infrastructure (Replacement Value as at Dec 31, 2020) 80 Compressors (3.25MM each) 259 MM 17 Inlets (1.8MM each) 31 MM 20 Refrigeration…
  37. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 37
    Peytos Incredible Returns PEYTO Exploration & Development Corp. 38 11/19/2021
  38. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 38
    Peytos Returns Production Performance by Vintage PEYTO Exploration & Development Corp. Year Over Year Performance - All Cardium Year Over Year Performance - All Wilrich 5,000 7,000 Gross Recombined Gas Rate (mcf/d) Gross…
  39. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 39
    Peytos Returns Updated Template Economics At Strip PEYTO Exploration & Development Corp. Brazeau / Chambers Greater Sundance Type Curve Notikewin Notikewin Economics Cardium Notikewin Wilrich ERH Tier 1 Tier 2 Wilrich ERH Falher…
  40. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 40
    Peytos Returns 2020 Post-Mortem Returns Analysis PEYTO Exploration & Development Corp. ERH Wells 41 Full cycle IRR is determined using actual capital spent on each well, including a 825k provision for land, seismic, and…
  41. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 41
    Peytos Returns High Returns On Your Capital And Equity PEYTO Exploration & Development Corp. 60% 12 50% 10 40% 8 22 yr Avg ROE to 2020 30% 6 20% 4 10% 2 0% 0 Return On Capital Employed (%) Return On Equity…
  42. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 42
    Peytos Future PEYTO Exploration & Development Corp.
  43. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 43
    Peytos Future 2022 Outlook PEYTO Exploration & Development Corp. Drill 90Hz Wells (Liquids Rich Natural Gas) vs 91 in 2021 Expand Infrastructure New Chambers Gas Plant, Cecilia Compression Increase Opportunities Expand…
  44. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 44
    Peytos Future Gas Price Stability Before Returning to Growth PEYTO Exploration & Development Corp. 14 bbl/mmcf 14 bbl/mmcf 17 bbl/mmcf 20 bbl/mmcf 26 bbl/mmcf 28 bbl/mmcf 26 bbl/mmcf 25 bbl/mmcf 24 bbl/mmcf 5 Holding investment…
  45. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 45
    Peytos Future Lower Costs to Preserve Profit PEYTO Exploration & Development Corp. PEY 2018 PEY 2019 PEY 2020 PEY Goals 86% Gas 2.11/GJ*1.15 87% Gas 2.50/GJ*1.15 14% NGLs31/bbl=(60%of 52oil) 3.27 2.78 2.23 3.60 13%…
  46. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 46
    Peytos Future Balance Sheet Priority PEYTO Exploration & Development Corp. 1,600 200 Q4 2014, 173 180 1,400 160 1,200 140 1,000 120 800 100 80 600 60 400 40 200 20 0 0 Q4 1999 Q2 2000 Q4 2000 Q2 2001 Q4…
  47. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 47
    Peytos Future Back to Strong Earnings and Dividends PEYTO Exploration & Development Corp. Peyto Earnings per share 2.50 2.00 1.50 1.00 0.50 - 2000 2001 2002 2003 2004 2005 2006 2007 2008…
  48. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 48
    Peytos Future Blue Hydrogen We Have All the Right Ingredients PEYTO Exploration & Development Corp. Cecilia Cascade Power Station H2 4 TCF of 2P Interconnected gas Big Sunny Rail, Hwy, and natural gas pipeline and…
  49. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 49
    Gas Marketing Future Market Diversification and Gas Price Protection PEYTO Exploration & Development Corp. 3-5 yr diversification program Our plan is to fill this up with Midwest US /Eastern CND exposure and direct connect…
  50. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 50
    Gas Marketing Fixed Price Swaps For Gas and Liquids PEYTO Exploration & Development Corp. Peyto Marketing Summary 1.15 Heating Value GJ/mcf AECO 7A Fixed Price Swaps (CAD/GJ) 1.255 cad/usd TOTAL TOTAL TOTAL TOTAL TOTAL Q4 2019 2019…
  51. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 51
    Gas Marketing Rising Realized Gas Prices PEYTO Exploration & Development Corp. 6.00 Peyto Realized (/Mcf) - Avg 2.91 5.00 Hedge loss Rising as prices rise Realized Price 4.00 Falling 3.00 Futures Strip 2.00 Expensive…
  52. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 52
    Gas Marketing Successful Hedging Strategy Smoothes Volatility PEYTO Exploration & Development Corp. Gas Price (/mcf) 10.00 10.00 9.00 Peyto has beat the AECO 9.00 8.00 monthly price in 12 of the 8.00 last 15 years using a 7.00…
  53. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 53
    Gas Marketing LNG Consortium and Export Potential PEYTO Exploration & Development Corp. 54 11/19/2021
  54. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 54
    Appendix PEYTO Exploration & Development Corp. N Quarterly Track Record N Tax Pools N Leverage N Reserves Growth 55 11/19/2021
  55. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 55
    Quarterly Track Record PEYTO Exploration & Development Corp. 2021 2020 2019 Q3 Q2 Q1 Total Q4 Q3 Q2 Q1 Total Q4 Q3 Q2 Q1 Operations Production Oil & NGLs (bbl/d) 11,164 12,289 12,138 11,308 11,256 11,263 11,126 11,585 10,922 11,221…
  56. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 56
    Organic Business Model Peytos Tax Pools PEYTO Exploration & Development Corp. 1,800 1,600 1,400 1,200 1,000 800 Federal Tax Pools Millions 600 400 Q4/20 200 - 1999 2000 2001 2002 2003 2004 2005 2006 2007…
  57. November 2021 Corporate Presentation – Peyto Exploration & Development Corp – slide 57
    Peytos Debt Blend of fixed term and revolving debt PEYTO Exploration & Development Corp. 65 4.26% End of 0.95B Revolver Oct 23 100 3.70% MM 100 3.95% 100 4.39% 40USD 3.98% 58 Interest rates are in CND…

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