TSX: NVA Returns-Focused Sustainable Growth Corporate Presentation May 2022
NuVista Corporate Snapshot Production (MBoe/d) Corporate Information Operations 75 TSX Trading Symbol NVA NuVista Montney Shares Outstanding 228.5 Million 50 Market Capitalization ( 12/share) 2.7 Billion 65,000+ Total Credit Capacity…
CORPORATE STRATEGY NuVista: Focused on Returns Top Quality Assets Financial & Execution Strength Wapiti: FAFF engine Significant liquidity and FAFF to Pipestone: Returns-driven growth execute our growth plan while returning capital…
TOP QUALITY ASSETS High-Quality Inventory Supports over 30 years of Low-Risk, High-Value Development Pipestone Wapiti Top-Tier Asset With Measured Growth Free Adjusted Funds Flow Engine Excellent returns & capital efficiencies Free…
EXECUTION FOCUS 2021YE Reserves Highlights: Execution and Performance Showing Through 26% Annual Increase in PDP Reserves PDP F&D Cost of 6.10/Boe; Recycle Ratio of 4.4x 125 15 4.5x F&D Recycle Ratio PDP Reserves (MMBoe) Recycle…
EXECUTION FOCUS High-Quality Assets Accentuated by Robust Commodity Prices 2021/22 Producing Pads A Bilbo 4-Well Pad First 12 Month Payout Multiples for 2021/22 Program: F 2022 Pads in Progress Q121 On-Stream G J L 4.0x I NVA…
EXECUTION FOCUS Pipestone: Production Ramp-up in Full-Swing; On-Track to Fill Existing Infrastructure by Year End Focused on Delivering Consistently Low D&C Costs 3.5 Normalized Cost Avg Well Length 4,000 Average Lateral Length…
EXECUTION FOCUS Recent Cost Performance Continues to Drive Improved Capital Efficiencies & Returns Drilling Cost Going Longer for Less Completion Cost Intensity Up, Costs Down Drilling Cost per Meter Avg. Horizontal Length 1,500…
EXECUTION FOCUS Driving Down Cycle-Time Positive Impact on Returns Spud to on-stream times down…
EXECUTION FOCUS Free Adjusted Funds Flow Driven by Efficient Capital Deployment and Rapid Netback Expansion Avg. Annual Capital Expenditure Allocation Cash Cost Reduction = Netback Expansion1 Cash Costs Corporate Netback 20 DCET…
TOP QUALITY ASSETS Value Based Capital Allocation to Top-Tier Incremental Economics Wapiti: Type Well Payout High return inventory to sustain 18 65/Bbl WTI production and support free Sub One-Year 12 adjusted funds flow…
OPTIMAL GROWTH PROFILE Capacity Profile: Flexibility to Set Our Capital Program Commensurate with Price Environment Why Grow On-track for 15-20% CAGR Moderate Production Maximize FAFF generation 450 through to 2024 100,000 Growth &…
OPTIMAL GROWTH PROFILE Resilient Growth Fueled by Stable Development of Robust Existing Inventory Production Outlook Capex Outlook 100 500 50 Capital Expenditures Well Count Annual Well Count 75 Capex (MM) (MBoe/d)…
OPTIMAL GROWTH PROFILE Material Free Adjusted Funds Flow Generation & Debt Reduction Free Adjusted Funds Flow Outlook1 Net Debt Outlook1 65/3.00 75/3.50 85/4.00 Current Strip Pricing* Year-end Net Debt Net Debt: Annual AFF (65/3.00)…
OPTIMAL GROWTH PROFILE Robust Adjusted Funds Flow Generation 2022 Capital Allocation Framework Shareholder Return of Strip Pricing* Capital: 750 Share buy-back target of 25-50% FAFF 85/4.00 75/3.50 65/3.00 500 Debt…
FINANCIAL STRENGTH Material Liquidity and Improving Financial Leverage Total 230 MM Senior Debt Credit Capacity1: C470 MM Termed Out to 2026 New Senior Unsecured Notes issued in July 2021: 230 MM Face Value 7.785% Coupon 5 year…
FINANCIAL STRENGTH Condensate Pricing Market: Supply & Demand Fundamentals Western Canadian demand far exceeds domestic supply = Premium pricing over the long-term Meagre forecast domestic condensate production growth is insufficient…
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 2012-2020 50% GHG Reduction Executive Compensation Alignment In annual greenhouse gas emissions Compensation tied to business & ESG performance…
CORPORATE STRATEGY NuVista: Focused on Returns Top Quality Assets Financial & Execution Strength Wapiti: FAFF engine Significant liquidity and FAFF to Pipestone: Returns-driven growth execute our growth plan while returning capital…
Thank you
Advisory Regarding Oil and Gas Information ADVISORY REGARDING OIL AND GAS INFORMATION ECONOMIC INPUT ASSUMPTIONS The adjusted funds flow (/Boe) assumptions used in this presentation to calculate estimated future adjusted funds flow The…
Non-GAAP Measures & Capital Management Measures Non-GAAP Financial Measures expenditures against cash used in investing activities, its most directly other companies where similar terminology is used. Investors are comparable financial…
Non-GAAP Measures & Capital Management Measures Cash Costs, per Boe dispositions and economic factors) divided by annual production for the Adjusted funds flow applicable period and reserve category. NuVista views recycle ratio as a Cash…
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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