Obsidian Energy Ltd. Annual & Special Meeting Presentation June 16, 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 2022E 32,000 boe/d Shares…
OBSIDIAN ENERGY STRATEGY STRATEGY We focus on superior execution throughout to deliver results SUPERIOR SHAREHOLDER RETURN Generate excess free Increase scale and Drive per share growth Forecast target cash flow while…
OUR TWO-YEAR CORPORATE PLAN STRATEGY Significant growth in FCF accelerates debt reduction PRODUCTION OUTLOOK (boe/d) 2022 & 2023 reflect higher production and commodity prices 38,000 32,500 37,000 31,500 24,605 2021…
CONSIDERABLE FUTURE VALUE FROM TAX POOLS OVERVIEW 2.6 billion of tax pools in unrecognized value Amount of Pools Illustrative Value of Tax Pools TAX POOL COMPOSITION Utilized by Year1 8% Discount Rate2 200 million 360 million…
FOCUSING ON 2022 STRATEGY Executing on our strategy for 2022 and planning for future years Secured all services and equipment for 2022 program as we benefit from current strong commodity prices OPERATIONS FINANCIAL First-half…
EXPANDED 2022 DEVELOPMENT PROGRAM ASSETS First half drilling program complete in all three areas PEACE RIVER 68 wells (65.0 net) drilling program Forecasted average production of 32,000 boe/d, a 30% 30 wells (29.5 net)…
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)…
WILLESDEN GREEN CRIMSON LAKE ASSETS 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 ASSETS Eastward extension of successful Crimson Lake development program Horizontal development proving strong returns and quick payouts Flexible, operated infrastructure shared with Crimson Lake…
PEMBINA ASSETS 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 through…
PEACE RIVER REVITALIZED CORE AREA ASSETS Full ownership in high-quality cold-flow heavy oil Bluesky resource with Clearwater upside Q1 2022 Peace River production 6,469 boe/d Reliable and steady Bluesky production with shallow…
PEACE RIVER DRILLING UPDATE ASSETS Successful return to Bluesky development H2 2021 DRILL PROGRAM PRODUCTION Drilled four Bluesky wells in late 2021 (bbl/d) Four wells on production averaged 447 boe/d per well (IP90 rate)…
PEACE RIVER CLEARWATER POTENTIAL ASSETS Market excitement over emerging Clearwater formation play 487 sections with Bluesky and Clearwater heavy oil rights in total Leverage Bluesky operational experience Competitive royalty…
VIKING QUICK TURNAROUND DEVELOPMENT ASSETS Revitalizing light oil asset that provides highly economic returns Sweet, light oil development play with material Q1 2022 Viking production 690 boe/d degree of associated natural gas…
SUSTAINABILITY HIGHLIGHTS OVER THE PAST FIVE YEARS CORPORATE RESPONSIBILITY Striving to make a difference to the environment, the community and for all stakeholders Environment Social Governance 40% REDUCTION IN GHG 10,500…
GHG EMISSIONS 40% TOTAL REDUCTION SINCE 2018 CORPORATE RESPONSIBILITY Multi-pronged approach focuses on reducing GHG emissions, using investment and technology to go beyond regulated requirements Largest focus to date: Peace…
GHG REDUCTION CURRENT INITIATIVES CORPORATE RESPONSIBILITY Industry-leading innovation to capture fugitive emissions and initiate repairs quicker Research partnership in 2022 with the University of Calgary Incorporates two new…
WATER INTENSITY AND USAGE CORPORATE RESPONSIBILITY Minimizing the amount of fresh water used in operations to conserve this valuable resource WATER CONSERVATION (2019 2021) Injected Fresh Fresh Water Frac Water Water Use…
INDUSTRY LEADER IN ASSET RETIREMENT MANAGEMENT CORPORATE RESPONSIBILITY Our commitment to stakeholders includes responsible asset retirement as part of the full cycle of development 2019 2022: STRATEGY Committed to reducing…
INVESTING IN ALBERTA COMMUNITIES CORPORATE RESPONSIBILITY Committed to supporting the well-being of local communities where we work COLLABORATIVE COMMUNITY CITIZENSHIP We have made over 620,000 in Active participation in local…
SHARE-BASED COMPENSATION (SBC) CORPORATE RESPONSIBILITY Significant increase in share price over past year result in higher SBC liability on books but no cash paid until awards vest Compensation aligned with shareholders interest…
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
EXPERIENCED TEAM WITH STRONG TECHNICAL SKILLS APPENDIX Working together to build a top tier developer that provides solid returns to stakeholders 250 employees EMPLOYEES FINANCIAL AND COMMERCIAL Management team: Deeply…
HEDGING PRODUCTION TO PRESERVE CASH FLOW APPENDIX Continuing to build on our hedge position at constructive levels HEDGED OIL (, WTI/BBL) 2022 YTD* 104.53 14% WTI 8,633 129.68 50% hedge level C114.94/bbl 6,118 15% Q1 Q2 Q3…
2021 RESERVES HIGHLIGHTS APPENDIX 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…
Endnotes TSX:/NYSE American: OBE
ENDNOTES ENDNOTES Slide 4: Corporate Overview Market capitalization and enterprise value was determined with share price on the close of business on Slide 6: Our Two-year Corporate Plan, cont. June 14, 2022. Common shares…
ENDNOTES (CONT.) ENDNOTES Slide 15: Peace River Drilling Update Readers are cautioned that initial production rates and/or production test results disclosed herein, Slide 22: Industry Leader in Asset Retirement Management…
ENDNOTES (CONT.) ENDNOTES Slide 29: Hedging Production to Preserve Cash Flow Current Hedge Position and the weighted average price, or the Exercise Price is current as of June 15, 2022. All financial hedges have been executed in…
FORWARD-LOOKING INFORMATION ADVISORY (CONT.) ENDNOTES Although the Company believes that the expectations reflected in the forward-looking statements and FOFI repayment of our senior notes and limited recourse debt in connection…
Loading...
