CORPORATE OVERVIEW Why NuVista Approaching The Largest Independent Condensate-Rich Alberta Montney Pure Play 90,000+ Established Track Record Boe/d current production NuVista Prolific Depth and Scale of Repeatable & High-Value…
CORPORATE OVERVIEW The NuVista Journey Production Growth Net Debt Reduction Shareholder Returns (MBoe/d) (MM) (MM) 100 600 500 100 600 Total Returns To-Date 75 50 400 50 250 230 200 25 0 0 0 2020 2022 2024 '25…
INVESTMENT THESIS: 2025 BUDGET 2025 Budget: Low-Risk Growth & Resilient Returns Well Outperformance & Strong Execution = Enhanced Shareholder Returns 7% Annual Production Growth 15% per share including anticipated share…
INVESTMENT THESIS: 2025 BUDGET 2025 Budget: Annual Production Outlook Corporate Production (Boe/d) Current Annual Production Guidance 90k Boe/d 100k 87-88k Q2 Anticipated Third-Party Pipestone Plant Start-up Adds 8-10k Boe/d…
INVESTMENT THESIS: 5-YEAR PLAN Investment Thesis: Material Low-Risk Growth & Returns Runway Set for Growth to 125k Boe/d 125 Pillars for Growth In Place: 100 Inventory De-Risked 75 Egress Contracts Signed (Mboe/d) 50…
Legend OUR POSTAL CODE NVA Domestic Condensate Hub CNQ OVV North ARX NuVista is the 3rd Largest Alberta Pipestone VRN SHEL Montney Condensate Producer SCR SDEL Grande Prairie Region Montney Condensate Production (MBbl/d)…
OUR POSTAL CODE Condensate Pricing Market: Supply & Demand Fundamentals Western Canadian demand exceeds domestic supply = Premium pricing over the long-term Western Canada Condensate Supply and Demand (MBbls/d) Implied Rail Imports…
INVENTORY OVERVIEW NuVista Assets: Thick Montney Package with Multiple Proven Zones and Several Emerging Zones NORTH PIPESTONE SOUTH PIPESTONE GOLD CREEK ELMWORTH BILBO 3-Layer Development MNTN D North Pipestone…
T72 INVENTORY OVERVIEW Legend Multi-Decade North Developed to Date Pipestone Developed to YE 28 Developed to YE 33 Inventory Base T71 South Booked Montney Drilling Inventory(1) Pipestone 1584 T70 -395 995…
INVENTORY OVERVIEW NuVista Montney Continues to Outperform Consistent track record of reserves 3-Year Reserve Replacement(2) growth and value creation 350% 3-Year Reserve Reserves (MMboe) 165% Replacement of 350%(2) PDP TP…
INVENTORY OVERVIEW Emergence of a Prolific Resource The Lower Montney has evolved into a material, consistent & highly economic portion of NuVistas Portfolio Lower Montney Production (Boe/d) Lower Montney Lower Montney 10,500…
INVENTORY OVERVIEW How Our Asset Quality Stacks Up Best in Class Well Economics Canadian E&P PDP Recycle Ratio vs. North American Oil and Natural Gas Play - Half-Cycle Payout Period Annual Avg. Production Growth per Share Clearwater…
ASSET OVERVIEW: PIPESTONE Pipestone Proven Top-Tier Asset with Material Running Room Pipestone Pipestone Production Booked Locations (Mboe/d) Third Party Gas Plant Debottlenecking 62 Flagship Asset 20 Years Low-Risk and High-…
ASSET OVERVIEW: PIPESTONE Delivering Value Consistently Throughout the Condensate Fairway Cumulative Condensate Production Cumulative Gas Production Legend…
ASSET OVERVIEW: WAPITI Wapiti Stage Set for High-Return Focus Wapiti Wapiti Production Significant Resource Booked Locations (Mboe/d) Gold Creek in Place Expansion +10k Boe/d 62 228 North Gold Creek Elmworth + Gold Creek…
ASSET OVERVIEW: WAPITI A High-Quality Resource that Competes on the World Stage Cumulative Condensate Production Cumulative Gas Production Legend 1200…
EXECUTION & PERFORMANCE Lower Montney Delineation Portfolio of High Deliverability Wells with a Range of Fluid Composition Pipestone Lower Montney Average Cumulative Production 300 Condensate NGL's Natural Gas N Gold Creek…
EXECUTION & PERFORMANCE Execution Advancements in Wapiti Driving Down Costs Drilling Performance Type Curve Cost per Well 600 9.5 BIGGEST STRIDES BEING MADE -5% -10% Meters Drilled per Day 400 IN EMERGING GROWTH AREA: 9.0…
EXECUTION & PERFORMANCE Steady Improvement in Wapiti Economics Type Well Parameters Type Curve Payout 12 Wapiti Wapiti Pipestone Pipestone Base Rich Rich Very Rich 1 Month 1 Month EUR (Raw Gas) (Bcf) 8.8 6.5 7.0 5.0 9 Payout…
INVESTMENT THESIS: 5-YEAR PLAN Investment Thesis: Material Low-Risk Growth & Returns Runway Set for Growth to 125k Boe/d 125 Pillars for Growth In Place: 100 Inventory De-Risked 75 Egress Contracts Signed (Mboe/d) 50…
INVESTMENT THESIS: 5-YEAR PLAN Investment Thesis: Material Low-Risk Growth & Returns Free Adjusted Funds Flow Outlook(1) 600 Annual FAFF (Actuals) Annual FAFF (65/3) Annual FAFF (80/4) Up to 2.6Bn FAFF 450 from 2021-28…
FINANCIAL STRENGTH Robust Balance Sheet and Financial Leverage Significant Reduction in Net Debt 165MM Senior Debt Termed Out to 2026 7.785% Coupon Year-end Net Debt Net Debt: Annual AFF 5 year term (callable as of July 2023) 800…
FINANCIAL STRENGTH Well-Diversified Gas Market Exposure Natural Gas Volume Exposure by Market Marketing program broadens Hedged NYMEX Chicago Malin Dawn Emerson Ventura AECO LNG exposure and mitigates local 100% 5% market risk 11%…
INVESTMENT THESIS: WHY NUVISTA NuVista: Focused on Returns Prolific Depth & Established Runway set for Scale of Inventory Track-record Growth to 125k Boe/d Montney Growth Amplifies Pure Play Value & Returns Returns-Focused…
Advisories (cont) NuVista Investment Thesis and 5 Year Plan Specified Financial Measures Free adjusted funds flow or FAFF The Corporation has presented an investment thesis and associated five This corporate presentation uses specified…
Advisories (cont) Capital expenditures excluding those reserves acquired or disposed. management measure; and (ii) a quantitative reconciliation of the capital management measure to the most similar financial measure. Please also Please…
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…
Thank you 2500, 525 8th Ave S.W. Calgary, Alberta T2P 1G1 nuvistaenergy.com
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