Obsidian Energy Ltd. Corporate Presentation February 2022 TSX:/NYSE American: OBE
INVESTMENT HIGHLIGHTS OVERVIEW An efficient producer with operational strength, providing growth potential PRODUCTION WILLESDEN GREEN & PEMBINA PEACE RIVER Low decline, oil-weighted asset base with Largest acreage holder in a…
CORPORATE OVERVIEW OVERVIEW World class assets and experienced team delivering value People, assets, discipline, return-focus and execution strength CORPORATE SUMMARY MARKET SUMMARY Production 2021 24,605 boe/d Shares…
2021 HIGHLIGHTS 2021 RESULTS Successful year provides strong foundation for growth in 2022 Acquired remaining 45% interest in the Peace River Oil Partnership Successful equity issue with oversubscribed subscription offering…
DELIVERING RESULTS 2021 2021 RESULTS Strategy and focus continue momentum for long-term growth FUNDS FLOW FROM 2021E 2021 Results OPERATIONS ( millions) Production 24,600 24,800 boe/d 24,605 218 Capital expenditures 141 143…
2021 RESERVES HIGHLIGHTS 2021 RESULTS Strong growth in reserves values and volumes generating 200% reserve replacement and 2.4x recycle ratios YEAR-END 2021 RESERVES SUMMARY Proved developed Total proved Total proved producing…
FOCUSING ON 2022 STRATEGY Building our strategy and plans for the year We will evaluate and determine the right balance between production growth, debt repayment and return of capital to maximize stakeholder value as we move…
OUR TWO-YEAR CORPORATE PERFORMANCE STRATEGY Significant growth in free cash flow accelerates debt reduction PRODUCTION OUTLOOK (boe/d) 2022 guidance reflects higher production and commodity prices 30,100 29,100 25,404…
OUR 2022 DEVELOPMENT PROGRAM ASSETS First half drilling program started early in 2022, targeting Cardium and PROP areas PEACE RIVER 29 wells (28.0 net) front-half weighted drilling program Further demonstrates strength of asset…
LEADING CARDIUM PLAY AREAS ASSETS Our growth foundation with 25 years of drilling opportunities for future development FIELD HISTORY CARDIUM PRODUCTION (2021) 2021 Cardium production 20,182 boe/d One of North Americas most…
TOP CARDIUM DRILLER AND OPERATOR ASSETS Our development program produces leading Cardium well performance compared to peers LEADING CARDIUM WELL PERFORMANCE: WILLESDEN GREEN FIELD Cumulative production per well (bbl/well)…
PEACE RIVER ASSETS Full ownership in high-quality cold-flow heavy oil Bluesky resource with Clearwater upside 2021 Peace River production 3,152 boe/d* Reliable and steady Bluesky production with shallow declines Large, contiguous…
PEACE RIVER DRILLING UPDATE ASSETS Successful return to Bluesky development H2 2021 DRILL PROGRAM PRODUCTION (bbl/d) Drilled four Bluesky wells in late 2021 Four wells on production at 2,000 bbl/d Peak oil production of 2,700…
PEACE RIVER CLEARWATER POTENTIAL ASSETS Market excitement over emerging Clearwater formation play 473 sections with Clearwater heavy oil rights 65+ Clearwater drilling opportunities currently identified in the Dawson field…
OPTIMIZATION PROGRAM RESULTS IN STRONG RETURNS ASSETS Modest capital spend results in improved existing well performance, maintaining production across our asset portfolio Low-cost, high value growth opportunities with minimal…
DEDICATED TO SUSTAINABILITY CORPORATE RESPONSIBILITY Responsible stewardship for all stakeholders We believe it is our responsibility to support our communities, contribute to the economy, minimize our environmental impact and…
RESPONSIBLY MANAGING OUR DECOMMISSIONING LIABILITY CORPORATE RESPONSIBILITY Restoring the land Committed to reducing environmental footprint INACTIVE LEGACY WELL INACTIVE VS. ACTIVE ARO Active committee participation to…
HEDGING PRODUCTION TO PRESERVE CASH FLOW SUMMARY Continuing to build on our hedge position at constructive levels HEDGED OIL (, WTI/BBL) 2022 YTD* 102.50 98.82 108.72 9% WTI 8,634 50% hedge level 8,016 7,500 C103.45/bbl…
RESERVES UNDERPIN OUR CURRENT AND FUTURE VALUE SUMMARY Obsidian Energy trading at substantial discount on booked reserves basis YEAR-END 2021 RESERVES SUMMARY N E T A S S E T V A L U E ( N A V ) P E R S H A R E (1) (C per share)…
WHY INVEST IN OBSIDIAN ENERGY SUMMARY Obsidian Energy offers upside potential for shareholders Dominant Cardium land position and deep opportunity inventory of high- return wells that can be used to accelerate development at…
Appendix TSX:/NYSE American: OBE
2022 GUIDANCE APPENDIX Balancing production growth, debt reduction from FCF generation and the potential for returns of capital 2022E Average production1 29,100 30,100 boe/d Capital expenditures 143 149 million Decommissioning…
WILLESDEN GREEN CRIMSON LAKE APPENDIX Cornerstone for revitalized primary development on Cardium acreage Top quality reservoir with banked oil from historical pressure maintenance Historically under-developed due to challenges…
WILLESDEN GREEN EAST CRIMSON APPENDIX Eastward extension of successful Crimson Lake development program Horizontal development proving strong returns and quick payouts Flexible, operated infrastructure shared with Crimson…
CENTRAL PEMBINA APPENDIX Centre of low declines supports horizontal drilling and future growth through waterfloods Low decline, pressure-maintained development Ability to de-risk opportunities and add additional locations…
EXPERIENCED TEAM WITH STRONG TECHNICAL SKILLS APPENDIX Working together to build a top tier developer that provides solid returns to stakeholders 240 employees EMPLOYEES FINANCIAL AND COMMERCIAL Management team: Deeply…
Endnotes TSX:/NYSE American: OBE
ENDNOTES ENDNOTES Slide 4: Corporate Overview Slide 7: 2021 Reserve Highlights Market capitalization and enterprise value was determined with share price at the close of business on Reserves evaluation excludes inactive ARO. Our…
ENDNOTES (CONT.) ENDNOTES Slide 10: Our 2022 Development Program Slide 16: Optimization Program Results in Strong Returns No locations have been assigned to land where Obsidian Energy is not the operator. Production and capital…
ENDNOTES (CONT.) ENDNOTES Slide 20: Reserves Underpin our Current and Future Value Reserves evaluation excludes inactive ARO. Our YE2021 reserves evaluation conforms to the requirements of National Instrument 51-101 and uses…
NON-GAAP MEASURES RECONCILIATIONS ENDNOTES NET OPERATING COSTS NET DEBT (in millions) 2020 2021 FFO and FCF (in millions) 2021 (in millions, per boe) 2021 Long-term debt Cash flow from operating activities 198.7 Operating costs…
FORWARD-LOOKING INFORMATION ADVISORY (CONT.) ENDNOTES Although the Company believes that the expectations reflected in the forward-looking statements and FOFI refinance our credit facilities on acceptable terms or at all and/or…
Loading...
