CORPORATE SNAPSHOT BIRCHCLIFF OVERVIEW SELECT 2023 GUIDANCE(1) BIRCHCLIFF IS A DIVIDEND-PAYING PURE ALBERTA MONTNEY/DOIG RESOURCE PLAY PRODUCER Average production 77,000 boe/d Adjusted funds flow(2) 350 million F&D capital…
CORPORATE SNAPSHOT SELECT Q3 2023 RESULTS Average production 74,143 boe/d Light oil (% of production) 1,728 bbls/d (2%) Condensate (% of production) 4,850 bbls/d (7%) NGLs (% of production) 7,412 bbls/d (10%) Natural gas (% of…
CORPORATE SNAPSHOT WHY INVEST IN BIRCHCLIFF WORLD-CLASS ASSET BASE OPERATIONAL EXPERTISE High-quality, multi-decade inventory in Pouce Coupe and Gordondale Executive and management teams with a proven track record Emerging…
2023 OUTLOOK CAPITAL PROGRAM DETAILS(1) 2023 F&D Capital Expenditures by Classification 2023 Pouce Coupe/Gordondale Pad Locations Classification Capital (millions) 09-04 (7) Pads brought onstream in 2022 Carry-over 02-27 (2) 4 Montney…
2023 OUTLOOK NATURAL GAS MARKETING AND DIVERSIFICATION(1) AECO AECO 2.60 (0.04) 15% DIVERSIFIED (0.39) 2.17 MARKET EXPOSURE Dawn 42% NO FIXED Dawn 3.14 PRICE (0.18) Alliance (1.26) COMMODITY 1.70 6% HEDGES…
2024 OUTLOOK(1) 2024 PRELIMINARY GUIDANCE 2024 600 Excess free funds 500 flow(2) For 2024, Birchcliff remains focused on maintaining capital discipline, generating free funds flow and delivering significant returns to…
FIVE-YEAR OUTLOOK(1) DISCIPLINED PRODUCTION GROWTH ENHANCES PROFITABILITY GENERATE SUBSTANTIAL FULLY UTILIZE EXISTING FIVE-YEAR OUTLOOK DELIVER SIGNIFICANT INFRASTRUCTURE FREE FUNDS FLOW AND KEY THEMES: MAINTAIN CAPITAL SHAREHOLDER…
FOCUSED ON SHAREHOLDER RETURNS BASE DIVIDEND IS ONE OF THE HIGHEST YIELDS AMONG PEERS CUMULATIVE COMMON SHARE ANNUAL BASE DIVIDEND YIELD(2)(3) 450,000,000 DIVIDEND PAYMENTS(1) at November 13, 2023 12% 400,000,000 Fifth…
BIRCHCLIFFS MONTNEY/DOIG RESOURCE PLAY LOCATED IN THE HEART OF THE WORLD-CLASS MONTNEY Large contiguous land blocks consisting of 373.7 net sections as at December 31, 2022, including the Pouce Coupe, Gordondale and Elmworth…
BIRCHCLIFFS MONTNEY/DOIG RESOURCE PLAY ELMWORTH OVERVIEW Elmworth land block includes approximately 150 net contiguous sections of prolific Montney/Doig inventory. As part of Birchcliffs future growth plans for Elmworth, it has…
BIRCHCLIFFS MONTNEY/DOIG RESOURCE PLAYRESOURCE PLAY MONTNEY/DOIG MASSIVE MULTI-INTERVAL LAND POSITION NOVEMBER 2023 12
BIRCHCLIFFS MONTNEY/DOIG RESOURCE PLAYRESOURCE PLAY MONTNEY/DOIG BIRCHCLIFF MONTNEY/DOIG HEXASTACK Resource density: Stacked resource up to 300 metres thick. Large areal extent: Extends over 50,000 square miles. Exceptional…
2023 CAPITAL PROGRAM MONTNEY/DOIG RESOURCE PLAY MAJOR THEMES 2023 Capital Program Major Themes Balanced drilling opportunities of prolific natural gas and liquids-rich wells. 2023 Pad Locations Leverage interconnectivity between Pouce…
BIRCHCLIFFS MONTNEY/DOIG RESOURCE PLAY POUCE COUPE OVERVIEW Q3 2023 average production of 52,011 boe/d(1), with a natural gas weighting of 89%. Proven asset in development phase, with large low-risk multi-decade drilling…
BIRCHCLIFFS MONTNEY/DOIG RESOURCEPERFORMANCE D&C CONTINOUS PLAY IMPROVEMENT 2022/2023 WELLS VS. TIER 0 CAPPED TYPE CURVE(1) The 2022 and 2023 program average continues to show sustained production exceeding the Tier 0 capped curve…
BIRCHCLIFFS MONTNEY/DOIG RESOURCE PLAY POUCE COUPE DELOITTE TIER 0 TYPE CURVE(1) 4000 Rate of Return (%) WTI (US/bbl) 3500 70.00 80.00 90.00 100.00 2.00 115 137 159 184 (C/GJ) AECO 3000 3.00 162 187 213 241 4.00 212 240 269…
BIRCHCLIFFS MONTNEY/DOIG RESOURCE PLAY GORDONDALE OVERVIEW Q3 2023 average production of 22,042 boe/d(1) with an oil, condensate & NGLs weighting of 37%. Low base production decline requires less incremental wells to keep…
BIRCHCLIFFS MONTNEY/DOIG RESOURCE PLAY GORDONDALE DELOITTE LOW GOR HALO OIL TYPE CURVE(1) 500 Rate of Return (%) 450 WTI (US/bbl) 70.00 80.00 90.00 100.00 400 2.00 167 217 271 329 (C/GJ) AECO 3.00 195 248 305 367 350 4.00…
2022YE CORPORATE RESERVES(1) SIGNIFICANT RESERVES VOLUME AND VALUE GROWTH 1,200,000 9,000 PDP Reserves Birchcliff added 35.6 MMboe 1,100,000 1P Reserves of PDP reserves in 2022, 8,000 2P Reserves 1,000,000 which reflects a PDP…
CORPORATE RESPONSIBILITY FOCUSED ON ESG EXCELLENCE PEER EMISSIONS METRICS(1)(2)(3)(4)(5)(6) ENVIRONMENTAL Peer GHG Emissions Intensity Metrics 3,500,000 0.060 3,000,000 Pouce Coupe Gas Plant has two acid 0.050 gas sequestration…
CORPORATE RESPONSIBILITY FOCUSED ON ESG EXCELLENCE SOCIAL Major supporter of STARS Air Ambulance and the United Way of Calgary, raising more than 4.0 million for the organizations to-date. In 2022, participated in 45 engagement…
CANADIAN WEST COAST LNG OPPORTUNITY BIRCHCLIFFS ACTIVE ROLE SUPPLYING THE WORLD WITH CLEAN LNG Environmental Benefits of Canadian LNG LNG is critical in the transition to a low-carbon economy, as it displaces higher carbon fuels like…
CANADIAN WEST COAST LNG OPPORTUNITY(1) WESTERN CANADIAN LNG LANDSCAPE 48 MTPA (6.8 Bcf/d) of LNG projects either under construction Ksi Lisims LNG (Floating) or in development on Canadas West Coast 12 MTPA (1.7 Bcf/d) Environmental…
APPENDIX NOVEMBER 2023 25
PRODUCTION HISTORY SIGNIFICANT GROWTH SINCE INCEPTION 90,000 77,000 77,977 78,520 80,000 77,096 76,401 76,925 77,000 79,000 70,000 67,963 Average Production (boe/d) 60,000 49,236 50,000 38,950 40,000 33,734…
HISTORICAL PROFITABILITY PROVEN TRACK RECORD AS A LOW-COST PRODUCER Profitability Breakdown: 5 Year 2018 2019 2020 2021 2022 Average(4) Average AECO (CDN/GJ) 1.42 1.67 2.11 3.44 5.04 2.74 Average WTI (US/bbl) 64.77 57.03 38.91…
CORPORATE INFORMATION EXECUTIVE TEAM DIRECTORS BANK SYNDICATE Jeff Tonken Jeff Tonken The Bank of Nova Scotia Chief Executive Officer and Chairman of the Board Chief Executive Officer and Chairman of the Board HSBC Bank Canada…
CORPORATE INFORMATION MANAGEMENT TEAM HEAD OFFICE Gates Aurigemma Jeff Rogers Suite 1000, 600 3rd Avenue S.W. Manager, General Accounting Facilities Manager Calgary, Alberta T2P 0G5 Phone: 403-261-6401 Jesse Doenz Kevin Matiasz…
ADVISORIES DEFINITIONS Deloitte Deloitte LLP, independent qualified reserves evaluator Gordondale Gas Plant AltaGas deep-cut sour gas processing facility in Gordondale NI 52-112 National Instrument 52-112 Non-GAAP and Other Financial…
ADVISORIES NON-GAAP AND OTHER FINANCIAL MEASURES This presentation uses various non-GAAP financial measures, non-GAAP ratios, and capital management measures (as such terms are defined in NI 52-112), which are described in further…
ADVISORIES Birchcliff has disclosed in this presentation forecasts of adjusted funds flow and free funds flow for 2023 and adjusted funds flow and excess free funds flow for 2024, which are forward-looking non-GAAP financial measures.…
ADVISORIES Adjusted Funds Flow Per Basic Common Share Birchcliff calculates adjusted funds flow per basic common share as aggregate adjusted funds flow in the period divided by the weighted average basic common shares outstanding at…
ADVISORIES Reserves replacement is calculated by dividing PDP reserves additions before production by total annual production in the applicable period. Reserves replacement may be used as a measure of the Corporations sustainability and…
ADVISORIES Information relating to reserves is forward looking as it involves the implied assessment, based on certain estimates and assumptions, that the reserves exist in the quantities predicted or estimated and that the reserves can…
ADVISORIES Management has included the above summary of assumptions and risks related to forward-looking statements provided in this presentation in order to provide readers with a more complete perspective on Birchcliffs future…
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