TSX: NVA Returns-Focused Sustainable Growth Corporate Presentation November 2023
NuVista Corporate Snapshot Production (MBoe/d) Corporate Information Operations TSX Trading Symbol NVA 75 NuVista Montney Shares Outstanding1 210.8 Million 50 Market Capitalization ( 13/share) Total Credit Capacity1,4 2.75…
CORPORATE STRATEGY NuVista: Focused on Returns Top Quality Assets Financial & Execution Strength Wapiti & Pipestone: FAFF engine Significant liquidity and FAFF to and Returns-driven growth execute our growth plan while returning…
OPTIMAL GROWTH PROFILE 2024 Budget Highlights: Unlocking Shareholder Value Through Growth and Returns 10+% Annual Production Growth 15+% per share including anticipated share buybacks Low-Risk, High-Return Capital Program…
TOP QUALITY ASSETS Established Inventory Supports over 30 years of Development Montney A Reserves & Resources Montney B Reserves & Resources Montney C Reserves & Resources Montney D Reserves & Resources Montney A HZ Wells Montney B…
EXECUTION FOCUS Pipestone: Initial Production Ramp-up Now Complete; Next Leg up by Early-2025 2021-22 On-stream Pads Pipestone Activity First Year Payout Multiples Average 2.0x 2023 Pads Payout Multiple Achieved (85/4) Projected…
EXECUTION FOCUS Pipestone: Delivering Value Consistently Throughout The Condensate Fairway First Year Condensate First Year Raw Gas Production per Well Production per Well 75 750 Cumulative Raw Gas per 1,000m Hz (MMcf)…
EXECUTION FOCUS Pipestone: Full-Cycle Project Payout Achieved in Q323; Deep Inventory Drives Material Future Free Adjusted Funds Flow Generation Full-cycle payout on 1.4 Bn of invested capital achieved in Q3 2023 Reached 45k Boe/d…
EXECUTION FOCUS Wapiti: Growth Resumed; Optimization of Existing Assets Wapiti Activity Wapiti Growth Fueled by High Return Inventory Payout Multiple Achieved (85/4) Projected First 12 Month Payout Multiple (85/4) 3-Well Pad 2.0x…
EXECUTION FOCUS Gold Creek Inventory Expansion: Successful Secondary Zone Delineation Excellent Deliverability Continues on NVAs Lower Montney Tests in Gold Creek Lower Montney Gas Production Lower Montney Condensate Production 250…
EXECUTION FOCUS Planning & Execution Helping to Offset Inflationary Pressures; Seeing Indications of Inflation Moderating Drilling Consistent Execution Drilling Record Setting Performance at Gold Creek 2,500 Drilling cost per Meter…
TOP QUALITY ASSETS Value Based Capital Allocation to Top-Tier Incremental Economics High return inventory to sustain Type Well Payout production and support free 18 85/Bbl WTI & 4/MMBtu NYMEX 65/Bbl WTI & 3/MMBtu NYMEX adjusted funds…
OPTIMAL GROWTH PROFILE Capacity Profile: Flexibility to Set Our Capital Program Commensurate with Price Environment Why Grow On-track for 10-15% CAGR Maximize FAFF generation to 100k+ Boe/d through prudent and purposeful 500 growth…
OPTIMAL GROWTH PROFILE Significant Free Adjusted Funds Flow Generation Driven by Steady Development of Existing Inventory Free Adjusted Funds Flow Outlook1 Net Capex Outlook 500 85/4 Strip Cum. FAFF/Share 8.00 500 Cumulative FAFF…
OPTIMAL GROWTH PROFILE Robust Adjusted Funds Flow Generation 2024 Capital Allocation Framework Shareholder Return of Capital: Share buy-back target 750 85/4.00 75% of FAFF 75/3.50 65/3.00 500 Debt Reduction: Maintain…
FINANCIAL STRENGTH Robust Balance Sheet and Financial Leverage Net Debt Has Seen Significant Reduction 165MM Senior Debt Termed Out to 2026 Senior Unsecured Notes issued in July 2021: Year-end Net Debt Net Debt: Annual AFF (65/3) 800…
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 Active marketing program broadens Natural Gas Price Diversification exposure and mitigates local dynamic Hedged NYMEX Floating Chicago Floating California Floating…
NuVISTAS COMMITMENT ESG-Focused Culture1 Environmental Governance NuVista GHG Emissions 2012-2022 34% GHG Reduction Executive Compensation Alignment In Scope 1+2 emissions intensity from Compensation tied to business & ESG…
CORPORATE STRATEGY NuVista: Focused on Returns Top Quality Assets Financial & Execution Strength Wapiti & Pipestone: FAFF engine Significant liquidity and FAFF to and Returns-driven growth execute our growth plan while returning…
Thank you
Advisory Regarding Oil and Gas Information ADVISORY REGARDING OIL AND GAS INFORMATION ECONOMIC INPUT ASSUMPTIONS EMISSIONS BENCHMARK METHODOLOGY The reserves estimates for 2022 presented herein have been evaluated by NuVista's type…
Non-GAAP Measures & Capital Management Measures Non-GAAP Financial Measures Capital expenditures Free adjusted funds flow NI 52-112 defines a non-GAAP financial measure as a financial measure Please see Non-GAAP and Other Financial…
Non-GAAP Measures & Capital Management Measures Corporate netbacks, per Boe Payout Multiple Please also see Note 18 Capital Management in NuVista's consolidated financial statements as at and for the years ended December 31, 2022 NuVista…
Abbreviations and Definitions physical storage and trading hub for natural gas AECO E estimate MMBtu million British thermal units in Alberta AFF Adjusted funds flow ERM Enterprise Risk Management MMcf million cubic feet Avg average…
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