Obsidian Energy Ltd. Corporate Presentation November 2024 TSX:/NYSE American: OBE
CORPORATE OVERVIEW OVERVIEW World class assets and experienced team delivering value People, assets, discipline, return-focused, and execution strength CORPORATE SUMMARY MARKET SUMMARY Production 2024E 37,200 boe/d Shares…
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 reserves, generating light and TOP…
OBSIDIAN ENERGY STRATEGY STRATEGY 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 production to…
FOCUS DURING 2024 - HIGHLIGHTS STRATEGY Strategy to unlock shareholder value through focus on Peace River growth, share buybacks and debt repayment 2024 plans expected to deliver 15% production growth and generate FCF, while…
2024 GUIDANCE STRATEGY Value-added growth through the development of new and existing fields while further appraising our Peace River asset 2024 (REVISED) HEAVY OIL LIGHT OIL Average production 37,000 37,400 boe/d Based on…
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 2024 PROGRAM HEAVY OIL ASSETS (PEACE RIVER) Strong technical work provides foundation for substantial future development opportunities and growth NAMPA H2 program builds upon recent development success Mapping…
HEAVY OIL ASSETS (PEACE RIVER) CLEARWATER PRODUCTION GROWTH Exploration/appraisal, development and acquisition success CLEARWATER PRODUCTION Clearwater ahead of 3-year plan (4,000 boe/d in 2026) (average boe/d by month) with…
DAWSON FIELDS STRONG CLEARWATER RESULTS HEAVY OIL ASSETS (PEACE RIVER) Dawson development field providing substantial growth and outperforming expectations High-quality reservoir and fluids Results outperforming initial type…
STRATEGIC PEACE RIVER CLEARWATER ACQUISITION HEAVY OIL ASSETS (PEACE RIVER) Highly synergistic to existing land base and on trend with existing Dawson Clearwater development field HIGHLIGHTS Acquired strategic Peace River lands…
LIGHT OIL ASSETS LIGHT OIL ASSETS History of highly economic returns with years of low-risk inventory Q3 2024 Cardium production 25,889 boe/d PEMBINA Cardium (Willesden Green/Pembina) One of North Americas most significant…
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 80%…
WILLESDEN GREEN/PEMBINA 2024 PROGRAM LIGHT OIL ASSETS Economic returns with years of low-risk inventory providing strong returns and quick payouts Foundational asset with horizontal development providing strong returns PEMBINA…
CONSIDERABLE FUTURE VALUE FROM TAX POOLS SUMMARY 2.5 billion of tax pools in unrecognized value to be leveraged in our three-year growth plan Our significant tax pool position is estimated to save TAX POOL COMPOSITION 35 million…
RESERVES UNDERPIN OUR CURRENT AND FUTURE VALUE SUMMARY Trading at substantial discount on booked reserves basis; growing per share metrics to increase shareholder value NET ASSET VALUE (NAV) PER SHARE YEAR-END 2023 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 AECO GAS HEDGES risk management to HEDGES (, mcf/d) Collars (, WTI/bbl) 3.43…
2024 CAPITAL PROGRAM APPENDIX Expanded development and exploration/appraisal program to add production and delineate assets 67 (66.4 NET) WELL OPERATED DRILLING PROGRAM Expected average production of 37,200 boe/d, a 15%…
DELIVERING RESULTS APPENDIX Strategy and execution create momentum for long-term value 2022 2023 Q1 Q3 2024 GROWTH IN PRODUCTION (boe/d; boe/d per share) Production 30,682 boe/d 32,275 boe/d 36,587 boe/d 37,400 40,000 180…
THREE-YEAR GROWTH PLAN FINANCIALS APPENDIX Compelling value proposition with accelerated production, and both free cash flow and funds flow growth for strong /share metrics 2024E 2025F 2026F Peace River (heavy oil) 9,500 boe/d…
PEACE RIVER MULTI-ZONE OPPORTUNITIES APPENDIX Creating value applying multi-zone development across our Peace River asset Bluesky: Multi-stacked drilling Apply learnings from 4 8 wells per section, Bluesky and Clearwater…
VIKING SIGNIFICANT DEVELOPMENT UPSIDE APPENDIX Revitalizing light oil asset that provides high IP rates, highly economic return and quick payouts 100% average working interest History of unlocking reserves and production value…
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 PEMBINA VIKING Formation Bluesky1 Clearwater2…
2023 RESERVES HIGHLIGHTS APPENDIX Growth in reserves volumes and improved efficiencies generating strong reserve replacement and recycle ratios YEAR-END 2023 RESERVES SUMMARY Proved developed Total proved Total proved 7th…
2023 RESERVES LOCATIONS APPENDIX Replacing production by 120% and increasing booked locations with significant future inventory potential Substantial inventory for future growth O B E LA N D BOOKED RESERVE LOCATIONS (sections…
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: 285 staff & contractors…
Endnotes TSX:/NYSE American: OBE
ENDNOTES ENDNOTES Slide 3: Corporate Overview Slide 7: 2024 Guidance, cont. Market capitalization determined with share price on the close of business on October 29, 2024, on Capital expenditures include approximately 21 million…
ENDNOTES, CONT. ENDNOTES Slide 13: Strategic Peace River Clearwater Acquisition Slide 18: Reserves Underpin our Current and Future Value, cont. All reserves data presented herein in respect of the Acquisition derived from the…
ENDNOTES, CONT. ENDNOTES Slide 23: Delivering Results Slide 26: Viking Significant Development Upside Production per share data based on annualized boe/d and average basic shares for the year, and Booked reserve locations reflects…
UNDERLYING ASSUMPTIONS ENDNOTES REVISED 2024 WTI11 US/bbl 72.50 MSW Differential1 US/bbl 3.50 The material budget and underlying WCS Differential1 US/bbl 15.00 assumptions used by the Company in AECO1 /GJ 1.50 preparation of its…
FORWARD-LOOKING INFORMATION ADVISORY (CONT.) ENDNOTES Although the Company believes that the expectations reflected in the forward-looking statements and FOFI breach one or more of the financial covenants pursuant to our agreements…
Loading...
