Obsidian Energy Ltd. Corporate Presentation February 2025 TSX:/NYSE American: OBE
CORPORATE OVERVIEW OVERVIEW World class assets and experienced team delivering value; 320 million disposition of operated Pembina assets People, assets, discipline, return-focused, and execution strength CORPORATE SUMMARY1…
OBSIDIAN ENERGY STRATEGY OVERVIEW We focus on superior execution to deliver results and create value for shareholders STRATEGY TO DELIVER SUPERIOR SHAREHOLDER RETURNS Drive per share growth Use FCF from Grow intrinsic value…
OUR STRATEGIC ADVANTAGES OVERVIEW Differentiating Obsidian Energy from peers to realize enhanced shareholder returns Diversified portfolio of low decline, oil-weighted assets with 14 years of 2P reserves, generating light TOP…
STRATEGIC PEMBINA ASSET TRANSACTION PEMBINA ASSET TRANSACTION Transformational divestiture focuses Company with Peace River becoming largest asset and area of growth Entered into a purchase and sale agreement to dispose of our…
STRATEGIC BENEFITS OF THE TRANSACTION PEMBINA ASSET TRANSACTION Enhanced liquidity with InPlay share position providing upside optionality FOCUSES ASSET BASE OBE 2024 PRO FORMA IMPACT (2024) Production mix weighted towards Peace…
2024 HIGHLIGHTS 2024 RESULTS Successful, active year achieved strong results and returns, setting foundation for additional value in 2025 and beyond Increased production and reserves through active capital program with IP rates…
DELIVERING RESULTS 2024 RESULTS Strategy and execution create momentum for long-term value 2022 2023 2024 GROWTH IN PRODUCTION (boe/d; boe/d per share) Production 30,682 boe/d 32,275 boe/d 37,474 boe/d 40,000 180 Capital…
2024 RESERVES HIGHLIGHTS 2024 RESULTS Growth in reserves volumes and values reflect high level of development and success of our capital programs YEAR-END 2024 RESERVES SUMMARY Proved developed Total proved Total proved…
2024 RESERVES LOCATIONS 2024 RESULTS Replacing production by 146% and increasing booked locations with significant future inventory potential Substantial inventory for future growth O B E LA N D BOOKED RESERVE LOCATIONS (net…
FOCUS DURING H1 2025 STRATEGY Strategy to unlock shareholder value through focus on Peace River growth, share buybacks and debt repayment H1 2025 focuses on Peace River development and delineation activities as we deliver solid…
2025 H1 GUIDANCE STRATEGY Focus on developing and appraising our Peace River asset to set the stage for future heavy oil production growth H1 2025E HEAVY OIL LIGHT OIL Average production 33,300 34,300 boe/d Based on midpoint of…
H1 2025 CAPITAL PROGRAM STRATEGY Peace River development and exploration/appraisal program to delineate asset and for second half production growth 38 (36.4 NET) WELL OPERATED DRILLING PROGRAM Ability to alter program as needed…
PEACE RIVER GROWTH ASSET HEAVY OIL ASSETS (PEACE RIVER) Ownership in high-quality Bluesky and Clearwater heavy oil resource provides production growth and upside Highly economic play and source of future growth 100% Large,…
PEACE RIVER TRANSFORMATION HEAVY OIL ASSETS (PEACE RIVER) Expanded holdings, increased production and established new Bluesky and Clearwater development fields D E C E M B ER 2 0 2 1 2024 (post 45% W.I. PROP acquisition) 2021…
PEACE RIVER H1 2025 PROGRAM HEAVY OIL ASSETS (PEACE RIVER) Strong technical work provides foundation for substantial future development opportunities and growth NAMPA Successful 2024 program set up for 2025 development and…
HEAVY OIL ASSETS (PEACE RIVER) CLEARWATER PRODUCTION GROWTH Exploration/appraisal, development and acquisition success CLEARWATER PRODUCTION Clearwater 2024 growth ahead of internal expectations, growing (average boe/d by month)…
LIGHT OIL ASSETS LIGHT OIL ASSETS History of highly economic returns with years of low-risk inventory Q4 2024 WG production 12,036 boe/d Willesden Green (Cardium/Belly River) WILLESDEN A high-grade light oil field with proven…
CARDIUM RESOURCE PLAY CONSISTENT ROBUST NETBACKS LIGHT OIL ASSETS History of highly economic returns with years of low-risk inventory and significant owned/operated infrastructure Efficient and highly economic development 74%…
CONSIDERABLE FUTURE VALUE FROM TAX POOLS SUMMARY 2.4 billion of tax pools in unrecognized value to be leveraged in our growth plan Amount of Pools Illustrative Value of Tax Pools TAX POOL COMPOSITION Utilized by Year1 8%…
RESERVES UNDERPIN OUR CURRENT AND FUTURE VALUE SUMMARY Trading at substantial discount on booked reserves basis; growing per share metrics to increase shareholder value PRO FORMA NET ASSET VALUE/SHARE YEAR-END 2024 RESERVES…
WHY INVEST IN OBSIDIAN ENERGY SUMMARY Peace River growth area combined with established light oil production offers upside potential for shareholders ORGANIC GROWTH STRATEGY Strategy focused on growing Peace River production…
Appendix TSX:/NYSE American: OBE
HEDGING PRODUCTION TO PRESERVE CASH FLOW APPENDIX Continuing to build on our hedge position at constructive levels Disciplined approach to WTI OIL HEDGES AECO GAS HEDGES (, mcf/d) risk management to (, WTI/bbl) Collars Swaps…
PEACE RIVER MULTI-ZONE OPPORTUNITIES APPENDIX Creating value applying multi-zone development across our Peace River asset Bluesky: Multi-stacked drilling 4 8 wells per section, Apply learnings from Bluesky and Clearwater…
VIKING STABLE RETURNS WITH DEVELOPMENT UPSIDE APPENDIX Revitalized light oil asset that provides high IP rates, highly economic return and quick payouts 100% average working interest History of unlocking reserves and production…
WELL ECONOMICS APPENDIX Strong returns across areas despite pressure in the current commodity price environment HALF CYCLE RESERVE TYPE CURVE ECONOMICS PEACE RIVER WILLESDEN GREEN VIKING Formation Bluesky1 Clearwater2 Cardium2…
EXPERIENCED TEAM WITH STRONG TECHNICAL SKILLS APPENDIX Working together to build a top tier developer that provides solid returns to stakeholders EMPLOYEES FINANCIAL AND COMMERCIAL MANAGEMENT TEAM 290 staff & contractors with…
Endnotes TSX:/NYSE American: OBE
ENDNOTES ENDNOTES Slide 3: Corporate Overview Slide 9: Delivering Results Market capitalization determined with share price on the close of business on February 24, 2025, on Production per share data based on average boe/d and…
ENDNOTES, CONT. ENDNOTES Slide 13: H1 2025 Guidance Slide 15: Peace River Growth Asset Mid-point of guidance range: 9,440 bbl/d light oil, 12,200 bbl/d heavy oil, 2,530 bbl/d NGLs and 57.8 Booked reserve locations reflects…
ENDNOTES, CONT. ENDNOTES Slide 22: Reserves Underpin our Current and Future Value Slide 25: Hedging Production to Preserve Cash Flow Reserves evaluation excludes inactive ARO. Our YE2024 reserves evaluation conforms to the In…
FORWARD-LOOKING INFORMATION ADVISORY (CONT.) ENDNOTES levels, including that we will not be required to shut-in production due to low commodity prices or the further U.S. and global economies, and by extension the Canadian oil and…
FORWARD-LOOKING INFORMATION ADVISORY (CONT.) ENDNOTES differentials for crude oil and natural gas produced in Canada as compared to other markets, and transportation restrictions, including pipeline and railway capacity…
Loading...
