Canbriam Energy: corporate overview Overview Asset map Private company started in 2007 and focused on the prolific Montney formation in Northeast BC 2014E production 10,000 boe/d (20% liquids) Canbriam has de-risked an inventory…
Experienced Management team has a track record of value creation Years Deep industry experience Paul Myers 25+ President, CEO Robert Froese 25+ CFO John Nieto 35+ EVP, Sub-surface Gary Gardiner 30+ EVP, Operations…
Montney: significant well density & offset peer activity Petronas/Progress -Town Montney Wells 12 miles Canbriam Shell Progress/Petronas ARC Encana CNRL Murphy Suncor Painted Pony Black Swan Unconventional Gas…
Canbriam: unique geology within prolific Montney resource 4 key attributes of Canbriams Montney asset 1 Significant thickness 2 High liquids content Could ultimately result in 3 or 4 resource play 2014 YTD plant yield 40 - 50…
Canbriam: unique geology within prolific Montney resource 4 key attributes of Canbriams Montney asset (contd) 3 Over-pressured reservoir 4 Sub-surface compartmentalization Results in higher OGIP & EUR Leads to distinct high-pressure…
Large drilling inventory supports low-risk production growth Well inventory (net) +34 years of upside 18 years of economic drilling inventory 36 wells / year drilling inventory 936 1622 686 198 686 395 40 28…
Stable production history with strong liquids content LTM Production 60 50 40 Inlet Separator b-24-H capacity mmcf/d 30 Gas 20 10 Sept-14: Plant turnaround 0 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14…
Development plan focused in the prolific Main Fault Block Exploration wells: 11 wells since 2008 Development wells: 13 wells (Sept 30, 2014) 7 zones tested within Montney formation Targeting 2 Upper & 1 Lower Montney zones within…
Illustrative well economics - Upper Montney Illustrative well economics Canbriam development well vs. type curve Main Fault Block (MFB) Upper Montney 7,000 Drilling locations(1) 284 Well properties 6,000 Raw gas type curve…
Illustrative well economics - Lower Montney Illustrative well economics Canbriam development well vs. type curve Main Fault Block (MFB) Lower Montney 7,000 Drilling locations(1) 149 Well properties 6,000 Raw gas type curve…
Main Fault Block type well economic sensitivities 25 120% 100% 20 80% NPV10 (MM) Rate of return 15 60% 10 40% 5 20% 0% 0 Low (3.50/70) Base (4.00/80) High (4.50/90) Low (3.50/70) Base (4.00/80) High…
Downhole choke strategy has improved decline rates Advantages of using downhole chokes Manages 1st year production declines Altares c-B27-H Well Upper Montney and fosters stable production 15.0 30.0 Enhances EUR by maintaining…
Infrastructure strategy supports development & lowers costs 100% owned and operated Infrastructure Altares facilities Processing facilities b-24-H: 50 MMcf/d nameplate capacity online b-72-A: scalable to 400 MMcf/d nameplate…
Integrated water solution is a strategic advantage 1 Sourcing Canbriam - Altares 20-year permit to access up to 10,000 m3/day of low- cost fresh water from Williston Lake Includes piping to service multiple frac operations…
b-72-A facility: scalable design for efficient development C-62-a Water hub H1 2015E commissioning Train 2, phase 2: 120 MMcf/d Sanctioning to be determined Train 2, phase 1: 120 MMcf/d Sanctioning decision in 2015 Train…
Maintaining operational & financial flexibility through 2015 Base case: Maintenance case: Fully funded in 2015; 4-rig program Fully funded in 2015: drop to 3-rig program 90% of expected 2015 condensate production hedged at Complete…
Operating environment supports development plan Attractive fiscal regime in BC Drilling credits & minimal retention drilling required Mile post 73 NGL terminal - PPL Spectra T North Gas transmission Supportive First Nations…
Strategies to enhance operational performance 1 Small footprint 3 Limited entry slickwater frac completions Pad drilling minimizes surface Surface disturbance and lowers D&C Surface Casing Isolation Perf costs per well - Pump-…
Key investment highlights Prolific EUR/well with 1,100 of Montney vertical thickness on 61,000 (50% liquids rich) net acres Prolific Montney 46.3mmboe of gross 1P Reserves (pre-tax PV10 of 510 million)(1) asset 110 mmboe of gross 2P…
Supplemental information
A focused, liquids-rich Montney growth company Resource. Differentiated Montney resource with unique geology Liquids-rich (50% of 61,000 net acres) Large low-risk, high return drilling inventory Favorable operating environment…
Significant reserve growth with high liquids content Reserve evaluation conducted by GLJ Petroleum Consultants as of December 31, 2013 (1) Summary of Gross Reserves as of 12/ 31/ 2013 (2) Category Natural Gas (Bcf) NGLs (MMbbls)…
Montney depositional model Montney sediment source is a combination of perennial and ephemeral rivers, and aeolian processes Town depocenter transported down-slope via submarine fans Fort St. John The combination of the above high…
b-72-A facility: scalable design for efficient development September 4, 2014 December 19, 2014 26
Composition of total liquids production Realized prices - liquids (C) 140.00 120.00 100.00 80.00 60.00 40.00 20.00 0.00 CONDENSATE (/bbl) PROPANE (/bbl) BUTANE (/bbl) PENTANE+ realized (C/bbl) WTI (C/bbl) 2013…
Upper Montney Main Fault Block well data Daily raw gas production by well Upper Montney Main Fault Block development wells 10,000 b-A24-H 9,000 b-B24-H 8,000 c-23-H 7,000 c-27-H Daily Gas Rate (mcf/d) 6,000 b-34-H…
RESOURCE. INNOVATION. COLLABORATION. Canbriam Energy Inc. Paul Myers 3500, 450 1st Street SW President & Chief Executive Officer Calgary, AB Canada T2P 5H1 pmyerscanbriam.com Rob Froese infocanbriam.com Chief Financial Officer Tel:…
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