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July 2022 Corporate Presentation – Peyto Exploration & Development Corp

Peyto Exploration & Development Corp · Jul 1, 2022 · 57 slides

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Slides

  1. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 1
  2. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 2
    New To Peyto Who We Are PEYTO Exploration & Development Corp. N 5th Largest Canadian Gas Producer 635 MMcfe/d N 10th Largest Canadian Gas Processor 970 MMcf/d capacity N Pure Play Alberta Deep Basin Multizone stacked resource,…
  3. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 3
    PEY.TO 21 Year Growth Per Share PEYTO Exploration & Development Corp. YoY +12% +5% +119% +53% Historical Per Share (or unit) and Shares (units) Outstanding numbers (end of period) have been adjusted to reflect the May 27, 2005…
  4. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 4
    PEY.TO Total Shareholder Return Model PEYTO Exploration & Development Corp. Organic growth for LNG exports Future Prospects Past Profits 4 (1) Net debt/share is a non-GAAP financial measure or ratio. Refer to the…
  5. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 5
    PEY.TO Invest Shareholder Capital For Profit Not Growth PEYTO Exploration & Development Corp. 800 700 600 500 Peyto Capital 400 CTD Q1/22 300 200 100 Covid - 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009…
  6. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 6
    PEY.TO Return Profits to Shareholders with Dividends PEYTO Exploration & Development Corp. 3,000 2,500 2,000 Peyto Ctd. Earnings (MM) 1,500 Q1/22 1,000 500 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008…
  7. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 7
    PEY.TO We Heat Your Homes PEYTO Exploration & Development Corp. Natural Gas X X Safe Reliable Affordable 7 https://www.efficiencyalberta.ca 7/5/2022 http://www12.Statcan.gc.ca
  8. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 8
    PEY.TO Environmental Leader PEYTO Exploration & Development Corp. Notes: Intensities are based on total subsector emissions and relevant production amounts. They represent overall averages, not facility intensities. *Calculated on…
  9. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 9
    PEY.TO Continuously Improving Emissions PEYTO Exploration & Development Corp. Peyto GHG Emissions Intensity 29.0 26.0 24.7 23.9 22.3 21.1 19.8 19.6 19.3 2013 2014 2015 2016 2017 2018 2019 2020 2021E in GHG Emissions…
  10. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 10
    The Peyto Strategy PEYTO Exploration & Development Corp. 10 7/5/2022
  11. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 11
    Global Natural Gas Markets 385 BCF/d Global Marketplace in 2019* (pre-Covid) PEYTO Exploration & Development Corp. Half of all 28% of Russia (CIS) world exports market 83 BCF/d 56 BCF/d Europe North America 27 BCF/d Export 23…
  12. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 12
    North American Natural Gas Domestic and Export Markets PEYTO Exploration & Development Corp. LNG Canada 2 BCF/d 17 BCF/d Supply (2025) 11 BCF/d Demand Peyto 6 BCF/d Export (US) 95 BCF/d Supply 6 BCF/d Import (CND) 83 BCF/d…
  13. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 13
    WCSB Natural Gas Market Current Export Pathways PEYTO Exploration & Development Corp. AECO Gas Market 17 BCF/d Supply 9 BCF/d Demand 8 BCF/d Export (US) 1.5 1.0 Empress Emerson 2 2.0 1.0 2.5 Dawn Ventura Henry Hub…
  14. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 14
    The Peyto Strategy Bolster Albertas Shrinking Gas Reserves PEYTO Exploration & Development Corp. https://www.aer.ca/providing-information/data-and-reports/statistical-reports/st98/statistics-and-data 14 Non-GAAP measures and ratios…
  15. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 15
    Natural Gas Is The Solution USA Has Made the Biggest Reduction PEYTO Exploration & Development Corp. Absolute Change in CO2 Emissions from 2009-2019 (million tonnes of CO2) China India Indonesia Vietnam Saudi Arabia Iran…
  16. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 16
    Peytos Profitable Business PEYTO Exploration & Development Corp. 16 7/5/2022
  17. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 17
    Peytos Profitable Business Build it for less than we sell it PEYTO Exploration & Development Corp. 2021 2014 2015 2016 2017 2018 2019 2020 2021 Land/Acq/Disp Seismic Drilling PDP FD&A /mcfe (2.25) (1.64) (1.44) (1.36) (1.18)…
  18. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 18
    Peytos Profitable Business Lowering The Bar PEYTO Exploration & Development Corp. AECO 10 Monthly /GJ Peyto Realized Gas Price (/mcfe) 35% Avg. 8 Profit CTD Lowest realized price ever, but 6 also lowest total supply…
  19. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 19
    Peytos Profitable Business Peytos Moat is a Low-Cost Advantage PEYTO Exploration & Development Corp. 2.06 4.81 (0.24) 1.22 BOE factor - 6 mcf = 1 bbl of oil equivalent 19 Data from Peters & Co. Gas producers include:…
  20. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 20
    Peytos Profitable Business High Operating Margins PEYTO Exploration & Development Corp. 90% 9.00 80% 8.00 70% 7.00 60% 6.00 50% 5.00 40% 4.00 30% 3.00 20% 2.00 Peyto Operating Margin 10% 1.00 Last 21 Year Avg. 0% 2000…
  21. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 21
    Peytos Unique Assets PEYTO Exploration & Development Corp. New P eyto Cham bers Gas P lant 21 Non-GAAP measures and ratios do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures…
  22. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 22
    Peytos Assets Geographically Focused Core Areas PEYTO Exploration & Development Corp. 608,580 net acres (Q421) 12 operated gas plants - Cutbank --(970 mmcf/d net capacity) 2,000+ km pipelines 1,700+ producing zones Kakwa 105,000…
  23. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 23
    Peytos Assets PEYTO Deep Basin Permeability Segregation Exploration & Development Corp. FOOTHILLS STRUCTURES GAS AS ING INCRE BILITY EA PERM WATER TRANSITION ZONE WATER GAS ASE INCRE AREA OF GAS DEPTH…
  24. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 24
    Peytos Assets Multi Zone Stacked Sandstone Reservoirs PEYTO Exploration & Development Corp. *NGL recoveries can increase by 15+ bbl/mmcf with deeper cutting processing facilities Reserves are 2P recoverable in a section at 85%…
  25. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 25
    Peytos Assets Cecilia Acquisitions 35MM Effective Jan 1/21 PEYTO Exploration & Development Corp. YE21 Rates: Base: 2,750 boe/d Cecilia Gas Plant 12-34-56-22W5 Ownership: 100% WI New: 12,650 boe/d (20 new wells Original Throughput:…
  26. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 26
    Peytos Assets Brazeau PrivateCo Addition and Area Growth PEYTO Exploration & Development Corp. PrivateCo Acquisition 22 million, effective Jan 1, 2022 Chambers Development 81.8 Gross (73.0 Net) 120,000 sections of land 100,000…
  27. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 27
    Peytos Assets Whitehorse/Minehead ERHs PEYTO Exploration & Development Corp. Sundance Whitehorse/ Minehead Whitehorse Brazeau Timeline: 2017-2018: Drilled ten, 1-mile horizontals Minehead 2021/2022: Successfully tested…
  28. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 28
    Peytos Assets PEYTO Large Hz MSF Inventory Exploration & Development Corp. Done1 To Do Total Total Total Total Hz(Vt) Hz Locations Vertical Hz Locations Unbooked3 Wells Wells Booked2 2 (2) 440 200 474(10) 480 5 1 5 16 1 2…
  29. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 29
    Peytos Assets Deep Basin Lands Go A Long Way PEYTO Exploration & Development Corp. 1,000 Peyto Lands 900 800 700 Net Sections 600 Net Peyto Sections 500 400 300 200 100 - Net Sections of Cardium, Dunvegan,…
  30. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 30
    Peytos Assets Deep Basin Lands Continue to Turn Over PEYTO Exploration & Development Corp. Spirit River Expiries Sections - Possible Spirit River land expiries (drilling validation dependent) from 2022 - 2025 P eyto lands in…
  31. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 31
    Peytos Assets Increased Facility Ownership And Control PEYTO Exploration & Development Corp. Cutbank Kakwa Peyto Gas Plants Cecilia YE 2020 WI Oldman (with Deep Cut) W & Oldman North 1 Oldman 125 mmcf/d 100% Wildhay 2…
  32. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 32
    Peytos Assets Unique Infrastructure Location PEYTO Exploration & Development Corp. Cecilia Alliance Oldman & Oldman North Nosehill Big Sunny Wildhay Galloway Swanson Highway 16 Greater Sundance Area Cascade…
  33. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 33
    Peytos Assets Albertas Gas Developer PEYTO Exploration & Development Corp. 9,000 8,000 7,000 6,000 1,993 26% (TCFe) 5,000 CAGR 1,571 4,000 7,655 15% 3,000 CAGR 1,823 2,000 TCFe of 1,000 2,234 Discovered Reserves 0…
  34. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 34
    Peytos Assets What Shareholders Currently Own PEYTO Exploration & Development Corp. Tangible Infrastructure (Replacement Value as at Dec 31, 2021) 81 Compressors (3.25MM each) 283 MM 18 Inlets (1.9MM each) 35 MM 21 Refrigeration…
  35. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 35
    Peytos Incredible Returns PEYTO Exploration & Development Corp. 35 Non-GAAP measures and ratios do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other entities.…
  36. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 36
    Peytos Returns Production Performance by Vintage PEYTO Exploration & Development Corp. Year Over Year Performance - All Cardium Year Over Year Performance - All Wilrich 5,000 11/29 Paid Out 7,000 2/23 Paid Out Gross Recombined…
  37. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 37
    Peytos Returns Extended Reach Horizontals PEYTO Exploration & Development Corp. Peytos ERH program continues to yield great results including our latest and longest at 6070m MD and 3136m hz 37 Non-GAAP measures and ratios…
  38. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 38
    Peyto Returns 2021 Best Year Ever PEYTO Exploration & Development Corp. 2021 Wells Sorted by Species Price Deck: 2021 Actuals + Feb 8, 2022 Strip 500% 450% 2021 Capital Program IRR = 121% Included 750k/well for FLS 400%…
  39. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 39
    Peytos Returns Updated Template Economics At Recent Strip PEYTO Exploration & Development Corp. AECO WTI April 28 Strip C/GJ US/bbl 2022 6.54 96.41 2023 4.71 84.95 2024 3.64 76.68 Brazeau / Chambers Greater Sundance 2025 3.57…
  40. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 40
    Peytos Returns High Returns On Your Capital And Equity PEYTO Exploration & Development Corp. 60% 12 50% 10 40% 8 23 yr Avg ROE to 2021 30% 6 20% 4 10% 2 0% 0 Return On Capital Employed (%) Return On Equity…
  41. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 41
    Peytos Future PEYTO Exploration & Development Corp. 41 Non-GAAP measures and ratios do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other entities. Refer to the…
  42. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 42
    Peytos Future 2022 Outlook PEYTO Exploration & Development Corp. Drill 90Hz Wells (Liquids Rich Natural Gas) vs 91 in 2021 Expand Infrastructure New Chambers Gas Plant (prepaid equipment) Increase Opportunities Expand…
  43. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 43
    Peytos Future Steady Production Growth With Less Than CF PEYTO Exploration & Development Corp. 8 7 4.19 100,000 17,500/boe/d 5.10 6 20,600/boe/d 17,300/boe/d 16,800/boe/d 15,100/boe/d 10,900/boe/d 9,000/boe/d 5…
  44. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 44
    Peytos Future Lower Costs to Preserve Profit PEYTO Exploration & Development Corp. PEY 2014 PEY 2019 PEY 2021 PEY Goals 87% Gas 3.43/GJ*1.15 HC 13% NGLs53/bbl 88% Gas 4.00/GJ*1.15 5.04 2.23 3.61 5.45 12% NGLs70/bbl=(70%of…
  45. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 45
    Peytos Future Balance Sheet Priority PEYTO Exploration & Development Corp. 2,000 250 1,800 1,600 200 Q4 2014, 173 1,400 Total Net Debt(1) (MM) Quarterly FFO(1) (MM) 1,200 150 1,000 800 100 600 400 50 200 0…
  46. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 46
    Appendix PEYTO Exploration & Development Corp. N Gas Marketing N Quarterly Track Record N Tax Pools N Leverage 46 Non-GAAP measures and ratios do not have any standardized meaning under IFRS and therefore may not be…
  47. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 47
    Gas Marketing Rising Gas Prices PEYTO Exploration & Development Corp. Demand Driven Demand Driven Supply Driven Market Market Market 47 Non-GAAP measures and ratios do not have any standardized meaning under IFRS and…
  48. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 48
    Gas Marketing The Future of Gas Prices PEYTO Exploration & Development Corp. 48 Non-GAAP measures and ratios do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other…
  49. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 49
    Gas Marketing Future Market Diversification and Gas Price Protection PEYTO Exploration & Development Corp. 3-5 yr diversification program Our plan is to fill this up with Midwest US /Eastern CND exposure and more direct…
  50. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 50
    Gas Marketing Fixed Price Swaps For Gas and Liquids PEYTO Exploration & Development Corp. Peyto Marketing Summary 1.15 Heating Value GJ/mcf AECO 7A Fixed Price Swaps (CAD/GJ) 1.255 cad/usd TOTAL TOTAL TOTAL TOTAL TOTAL TOTAL Q4 2019…
  51. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 51
    Gas Marketing Successful Hedging Strategy Smoothes Volatility PEYTO Exploration & Development Corp. Gas Price (/mcf) 10.00 10.00 9.00 Peyto has beat the AECO 9.00 8.00 monthly price in 12 of the 8.00 last 16 years using a 7.00…
  52. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 52
    Gas Marketing Rockies LNG Partnership West Coast LNG Option PEYTO Exploration & Development Corp. 52 Non-GAAP measures and ratios do not have any standardized meaning under IFRS and therefore may not be comparable to similar…
  53. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 53
    Quarterly Track Record PEYTO Exploration & Development Corp. 2022 2021 2020 2019 Q1 Total Q4 Q3 Q2 Q1 Total Q4 Q3 Q2 Q1 Total Operations Production Oil & NGLs (bbl/d) 12,273 11,653 11,038 11,164 12,289 12,138 11,308 11,256 11,263…
  54. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 54
    Organic Business Model Peytos Tax Pools PEYTO Exploration & Development Corp. 1,800 1,600 1,400 1,200 1,000 800 Federal Tax Pools Millions 600 400 Q4/21 200 - 1999 2000 2001 2002 2003 2004 2005 2006 2007…
  55. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 55
    Peytos Debt Blend of fixed term and revolving debt PEYTO Exploration & Development Corp. 65 4.26% End of 0.95B Revolver Oct 23 100 3.70% MM 100 3.95% 100 4.39% 40USD 3.98% Debt in CND unless otherwise indicated…
  56. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 56
    Advisories PEYTO Exploration & Development Corp. Funds from Operations Funds from operations (FFO) is a non-GAAP measure which represents cash flows from operating activities before changes in non-cash operating working capital and…
  57. July 2022 Corporate Presentation – Peyto Exploration & Development Corp – slide 57
    Advisories PEYTO Exploration & Development Corp. Oil and Gas Metrics This presentation contains a number of oil and gas and finance metrics, including FD&A cost, cash costs, supply cost, full cycle netback, reserve life, payout, IP12…

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