FOCUS, GROWTH, PROFITABILITY Positioned for Opportunities Corporate Presentation November 2014
Corporate Overview a current snapshot 4 Management Ownership (fully diluted) 22% CPPIB Ownership (fully diluted) 78% F.D. Shares Outstanding 162.6 million shares 2P Reserves1 86.5 million boe 2P RLI2 21 years Identified Oil…
Our Strategy 5 Maintain a focus on high netback oil production Achieve sustainable profitable growth through the drill bit and accretive acquisitions Focus on assets that support low cost operations Exercise conservative…
Teines Viking Assets an enviable position 6 Attractive, virtually contiguous acreage in the core of the Saskatchewan Viking oil play One of the largest Viking light oil producers and Teine Asset Map coveted land position 380,000 net…
Proven Track Record a platform for growth 7 Production Reserves2 16,000 15,000 14,000 Actuals Forecast 12,617 100 87 86 Proved Probable Reserves (MMboe) 12,000 2011 Production (boe/d) 80 10,000 60 29 29 7,791…
Saskatchewan Viking- exploiting a light oil play 8 Saskatchewan Viking Light Oil Overview WCSB Viking Trend3 Large OOIP, both over a large geographical area and on a per section basis Estimated 6 billion bbls of OOIP from the…
Saskatchewan Viking a growth story 9 Significant increase in drilling activity Over 1,100 wells spud in 2013 compared to 100 wells in 2009 New resurgence with the advent of horizontal drilling and improved oil prices Current…
Our Competitive Edge 10 Teines understanding of the Viking oil play and technical innovation provide a proven competitive advantage Viking Development Early understanding of play enabled Teine to acquire high quality Full Section…
Focus On Capital Efficiencies 11 Teine Well Performance by Vintage Teine Well DCE Costs 90 9,000 1,200 83 80 8,000 1,000 920K 90-Day Cumulative Oil Production (bbls) 69 850K 70 7,000 60 56 6,000 800 30-Day Oil Rate…
Exceeding Expectations 12 Well performance has historically exceeded type curves used in the Reserve Report Based on Sproule type curves, higher initial production rates correspond to increased ultimate recoveries Teines recent well…
Top Tier Payout Metrics 13 Viking oil wells typically achieve investment payout time periods of 7 and 16 months Viking Oil Well Free Cash Flow & Payout Profile1,2 Teine Teine 4,000 Tier 5 Dodsland Tier 7 Plato Tier 9 Payout…
Infrastructure reducing costs; improving profits 14 Strategy Teine seeks to own, control, and operate strategic infrastructure with the goal of, reducing down time, increasing field manpower efficiency, and improving long-term…
Plato an infrastructure success story 15 Teines approach to infrastructure development and resulting success is demonstrated by recent Plato oil battery construction Plato Production Plato lands purchased as part of the Dec. 2012…
Teines Viking a robust economic inventory 17 2,800 low-risk Hz Viking oil drilling locations typically providing IRRs of 70% to 265%1 Less than 50% of identified locations booked in 2P reserves due to NI 51-101 limitations of only 4…
Potential Future Upside 18 Significant potential incremental recovery from increased well densities and implementation of secondary recovery techniques Increased Well Densities Test and Waterflood Pilot Numerous Viking operators…
Future Growth in Reserves and Net Asset Value 19 Significant potential for growth in reserves and net asset value as Teine executes its low- risk development plan and current well production performance is recognized Reserve class…
Teines Future 20 Multiyear profitable development plan to generate significant and growing free cash flow Free cash flow is expected to grow as development plan is executed and production base matures Increasing Free Cash Flow…
21 Appendix
Viking Oil Well Type Curves 22 Viking horizontal oil wells generate attractive returns on invested capital Saskatchewan Viking Horizontal Oil Type Curves1 Type Curve Assumptions & Economics2 100 Average Decline Teine Teine Rate…
Overview of Reserves 23 Teine has a large light oil focused reserve base Sproule June 30, 2014 Reserve Evaluation Commodity Composition Reserves Before-Tax 86 MMboe 2P 57 MMboe Proved Oil NGLs Gas Total NPV10% 14% 14% (MMb b ls)…
Teine Competitive Advantage 24 Teine seeks to continuously improve profitability by both decreasing capital and operating costs and increasing well productivity and overall reservoir recovery Continuously and Adopting and…
Teine Energy 26 Large, contiguous land position concentrated in the core of the Viking oil play Substantial reserve Experienced base with a multi-year management team drilling inventory Multiyear profitable development…
Corporate Information 27 Board of Directors Bankers Dennis Chorney Chair Jim Howe National Bank of Canada, Syndicate head Mark Jenkins Adam Vigna Barclays Bank PLC, Second Lien Lead Jeff Donahue Nicholas Zelenczuk David Tuer…
Leader in Viking Cost Efficiency 28 Teines well economics benefit from both capital and operating cost efficiencies Infrastructure projects currently underway are expected to substantially reduce go forward transportation costs…
Loading...
