INVESTOR PRESENTATION Spartan Delta Corp. (SDE: TSX) May 10, 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 May 9, 2022) Spartan Delta Corp. TSX SDE MONTNEY: (1) Spartan is the largest Share Price /sh 11.75 producer and land holder in (1) the Montney oil window Market…
FIRST QUARTER 2022 HIGHLIGHTS Operational Execution into Commodity Tailwinds UNAUDITED HIGHLIGHTS Q4 2021 FY 2021 Q1 2022 Average production volumes were 72,588 boe/d (19% oil and condensate, 18% NGLs Crude Oil boe/d 11,450 4,697 11,270…
YEAR-END 2021 RESERVE EVALUATION Based on 2022 Average Forecast Pricing of U72.83/bbl WTI and C3.56/MMBtu AECO Independent qualified reserves evaluation effective December 31, 2021 (3) 2021 RESERVE HIGHLIGHTS Volume - Gross (MMboe)…
2022 DEVELOPMENT Maintaining Strong Free Funds Flow While Advancing Selected Growth Projects BC AB MONTNEY 30,563 boe/d (Q1 2022)(1) 231MM 2022 capital 20-22 net wells 430,000 net acres 1,000 net drilling locations identified (277…
THE MONTNEY OIL FAIRWAY A Differentiated Montney Play Targeting 50% Oil Weighted Production Montney Thermal Maturity 430,000 acres (670 sections) of prospective Montney with in-place Flatrock volumes of up to 45 mmboe/section Over…
MONTNEY OVERVIEW Deep Inventory of Growth Projects in the Montney Oil Window Montney Asset Characteristics: BC AB Flatrock Largest land position (430,000 net acres) and production base within the prolific Montney oil window Flatrock…
GOLD CREEK EAST ASSET OVERVIEW Repeatable Results with Available Infrastructure Capacity Asset Characteristics: Development asset with exceptional Production(1): 15,672 boe/d (52% liquids) economics contributing significant free (Q1…
GOLD CREEK WEST ASSET OVERVIEW Development Asset with Step Out Growth Opportunities Asset Characteristics: Development asset with strong economics Production(1): 4,418 boe/d (57% liquids) (Q1 2022) Grande Prairie Spartan owned battery…
KARR ASSET OVERVIEW Top Oil Wells in the Montney Asset Characteristics: Amongst the most prolific oil wells in Production(2): 2,860 boe/d (74% liquids) the basin (Q1 2022) Inventory 26 Booked (350m spacing) Low decline Montney oil…
SIMONETTE ASSET OVERVIEW Growth Asset with Owned Infrastructure Asset Characteristics: Low decline asset with owned Production: 3,462 boe/d (23% liquids) infrastructure and compelling growth (Q1 2022) opportunities Inventory 17 Booked…
DEEP BASIN OVERVIEW Robust Economics and Infrastructure Footprint Underpin Free Funds Flow Engine Deep Basin Asset Characteristics: CENOVUS SAND CREEK SDE OCHIESE NEES-OHPAWAGANUCK 10-09 230 MMcf/d Deep Cut (25% WI) Top quality resource…
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…
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 2020 Active Initiatives Environmental Gender Management & Stewardship Diversity Board Top…
INVESTOR HIGHLIGHTS Concentrated Core Development Areas with Torque to both Oil and Natural Gas Tailwinds Dominant position in two core areas, the Montney and Deep Basin, yielding some of Canadas most prolific economics Financial…
APPENDIX May 10, 2022 19
MONTNEY TARGETS AND RESERVOIR PARAMETERS Extensive Inventory Developed Primarily With a Single Layer to Maximize Returns A A Doig Flatrock Pouce Coupe Gold Creek West Gold Creek East Karr Simonette Upper Montney Upper Middle…
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…
RISK MANAGEMENT High Torque To Improving Fundamentals of Both Oil and Natural Gas Natural Gas US NYMEX - AECO 7A Basis US NYMEX Swaps - Short US NYMEX Swaps - Collar Swaps - Short Volume Volume Floor - Ceiling Volume Period…
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 AECO Alberta Energy Company C Meter Station of the NOVA Pipeline System API American Petroleum Institute gravity ARO Asset Retirement Obligations bbl; bbl/d Barrel; barrels per day bcf; bcf/d Billion cubic feet of natural…
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