INVESTOR PRESENTATION Spartan Delta Corp. (SDE: TSX) March 8, 2022
SPARTAN DELTA CORPORATE STRATEGY Building a Sustainable Energy Company CONCENTRATED ASSET BASE DEEP BASIN 40,000 boe/d(2) MONTNEY 30,000 boe/d(3) Sustaining capital 30% of asset level NOI(1) Largest producer and acreage holder in…
COMPANY OVERVIEW Spartan Delta Corp. (SDE:TSX) Capitalization (as at March 7, 2021) Spartan Delta Corp. TSX SDE MONTNEY: (1) Spartan is the largest Share Price /sh 9.18 producer and land holder in (1) the Montney oil window Market…
FOURTH QUARTER AND FULL-YEAR 2021 HIGHLIGHTS Transformational Strategic and Operational Execution Previous 2021 Fourth quarter production 17% above UNAUDITED HIGHLIGHTS Q4 2021 FY 2021 Guidance previous guidance due to well performance…
YEAR-END 2021 RESERVE EVALUATION Material Growth Through Acquisitions and Organic Development in 2021 Spartan completed an independent qualified reserves evaluation effective December 31, 2021 (3) 2021 RESERVE HIGHLIGHTS Volume -…
DEEP BASIN OVERVIEW Robust Economics and Infrastructure Footprint Underpin Free Funds Flow Engine Deep Basin Asset Characteristics: CENOVUS SAND CREEK SDE OCHIESE NEES-OHPAWAGANUCK 10-09 75 MMcf/d (9.6% WI) 230 MMCF/d Deep Cut (25%…
MONTNEY OVERVIEW Large Contiguous Blocks of Land Assembled in the Montney Oil Window BC AB Spartan Working Interest Gas Plant Montney Asset Characteristics: Third Party Gas Plant Spartan Compressor Station / Battery Largest land…
2022 DEVELOPMENT Maintaining Strong Free Funds Flow While Advancing Selected Growth Projects BC AB MONTNEY 30,000 boe/d (Q4 2021)(1) 231MM 2022 capital 20-22 net wells 450,000 net acres 1,000 net drilling locations identified (278…
2022 GUIDANCE Total Return Focused Model of Organic Growth and Free Funds Flow Generation (1) 2022 Guidance 2022 Average Production boe/d 68,500 - 72,500 Crude Oil and Condensate boe/d 14,900 Natural Gas Liquids (NGLs) boe/d 13,200…
VALUE PROPOSITION Top Decile Growth and FCF Yield at a Discounted Multiple Avg. 2022E DAFCF Yield: 21% Avg. 2022E Production Growth: 14% Avg. 2022E DAFCF + Growth Yield: 35% Avg. 2022E EV/DACF: 2.7 Spartan offers top decile…
RISK MANAGEMENT Risk Management Portfolio(1) AECO Basis positions provide diversification to Henry Hub Near-term right way risk management position in place as natural gas prices, safeguarding against structural or supply- the…
SPARTANS SUSTAINABLE DEVELOPMENT GOALS Spartan is Committed to Meeting the Needs of the Present, While Protecting the Future Focus Since Inception in 2020 Active Initiatives Environmental Gender Management & Stewardship Diversity…
INVESTOR HIGHLIGHTS Platform for Sustainable Organic Growth and Free Funds Flow(1) Generation Experienced team with a record of efficient capital discipline and value creation Dominant position in two core areas, the Montney and…
APPENDIX March 8, 2022 14
AREA MONTNEY MAP Spartans Positioning in the Montney Fairway Kelt Flatrock Leucrotta Tourmaline Arc Pouce Coupe Arc Birchcliff Kelt Ovintiv Advantage CNRL Kelt Grande Prairie Pipestone Gold Creek…
THE MONTNEY OIL WINDOW Largest Semi-Contiguous Position in the Up-Dip Light Oil Montney Fairway 450,000 net acres (703 sections)(2) of 95% WI Crown Flatrock Montney lands Lands reside within the volatile oil to black oil window…
RISK MANAGEMENT High Torque To Improving Fundamentals of Both Oil and Natural Gas Percentages hedged, excludes AECO Basis positions which represent diversification to NYMEX Henry Hub on less than 30% of natural gas production…
ANALYST COVERAGE & CONTACT INFORMATION Institution Analyst EXECUTIVE OFFICE STOCK EXCHANGE LISTING ATB Capital Markets Patrick ORourke Spartan Delta Corp. The TSX Exchange 1500, 308 4th Avenue SW Trading Symbol: SDE Calgary, Alberta…
MANAGEMENT TEAM & BOARD OF DIRECTORS MANAGEMENT TEAM Richard McHardy Former President, CEO and co-founder of Spartan Energy, Spartan Oil and Spartan Exploration Executive Chairman & Director Fotis Kalantzis Former SVP and co-founder…
PRICE DECK DETAILS Guidance Pricing All guidance, forecasts and economics are based on the following budget price deck (unless otherwise stated): 2022 2023 2024 AECO Gas C/GJ 3.75 3.50 3.25 WTI US/bbl 80.00 75.00 70.00 Edmonton Oil…
AUDITOR PRICE DECK DETAILS Three Consultant Average (McDaniel, GLJ and Sproule) January 1, 2022 3 Consultant Average (McDaniel, GLJ and Sproule) Summary of Price Forecasts Saturday, January 1, 2022 C rude O il P ric e F o re c as…
AUDITOR PRICE DECK DETAILS Three Consultant Average (McDaniel, GLJ and Sproule) January 1, 2021 3 Consultant Average (McDaniel, GLJ and Sproule) Summary of Price Forecasts Friday, January 1, 2021 C rude O il P ric e F o re c as t…
ABBREVIATIONS A&D Acquisition and Divestiture AECO Alberta Energy Company C Meter Station of the NOVA Pipeline System ARO Asset Retirement Obligations bbl; bbl/d Barrel; barrels per day bcf; bcf/d Billion cubic feet of natural gas;…
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