Northern Blizzard at a Glance Overview Shares Public Float 29.6 million shares / 28% Management Shares(1) 4.7 million shares / 5% NGP / Riverstone Shares 69.1 million shares / 67% Common Shares Outstanding 103.4 million shares…
Investment Highlights WorldClass Oil Resource Base Approximately 2.0 billion bbl DOIIP(1) with less than 11% recovered todate Low historic corporate decline rate of 17 20% Long reserve life index of approximately 22 years(2) + 10%…
Track Record of Reserves and Production Growth 2P Reserves Growth Production Growth 160 (3) 160.0 25,000 23,000 22,500 21,000 (2) 20,000 17,985 18,758 Production (boe/d) 140.0 135 17,500 15,999 (2) 15,000 14,000 120.0 113…
How do oil prices impact our 2015 Budget WTI (US/bbl) 55.00 65.00 75.00 Average realized combined price (CAD/boe) 45.74 53.49 61.10 Daily production volume (boe/d) 23,000 23,000 23,000 millions Revenue, net of blending 384 449…
Oil Price Rates of Return Type Well Full Cycle Before Tax Rate of Return (%) 160 140 120 Before Tax Rate of Return (%) 100 80 60 40 20 0 40 45 50 55 60 65 70 75 80 Wellhead Price Cactus WF_FC Cactus 2.5…
Project Capital Efficiencies 8
Unique High Quality Oil Assets Athabasca Oil Sands Large regional deposits of varying quality Very viscous: 1,000,000 cP range Nonmobile oil Cold Lake Oil Sands Viscosity of 100,000+ cP Decreasing Viscosity Nonmobile oil…
Three Key Development Opportunities 2014E Production Continued focus on optimization of established waterfloods Waterdrive, Light Oil, 2% 17% Chops, Continue to effectively Gas, 6% 12% downspace the waterdrive reservoirs…
Cactus Lake Bakken Repeatable Development Prior to being acquired by Northern Blizzard, mainly 40 acre spaced waterflood with 18% recovery and < 10% decline Since 2011 Northern Blizzard has downspaced the western half of the pool to 10…
Cactus Lake Production, Operating Income and Capex Profile 2010 production: 2,803 boe/d; Q4 2014 estimated production: 7,295 boe/d 45 million free cash flow estimated for 2014 54 million free cash flow estimated in 2015 Cumulative…
Waterflood Development: Cactus Lake Section 35 Area downspaced in 2011 Production tripled to 900 bbl/d and subsequently declined at 35% due to inadequate pressure support Waterflood optimized with an additional 9 wells converted…
Cactus Lake Type Well Evolution Type Curve Evaluation Rate vs Time 40 Oct 2013 30 20 10 0 0 6 12 18 24 30 36 42 48 40 Jun 2014 CD Oil Rate (bblpd) 30 20 10 0 0 6 12 18 24 30 36 42 48 Drill Timing Color Section…
Winter Horizontal Infill Development Water Drive Reservoir Development highlights: 170 wells drilled since 2010 throughout the pool Expanded facilities to handle in excess of 365,000 bbl/d gross water production Grown production by…
Winter Production, Operating Income and Capex Profile Free cash flow every year except 2012 30 million free cash flow estimated for 2014 15 million free cash flow estimated in 2015 New facilities constructed in 2012 and 2014…
Plover Heavy Oil SAGD 17
Saskatchewan Heavy Oil SAGD Analog Projects(1)(2) Paradise Hills Husky Paradise Hills Pikes Peak South Husky Pikes Peak South (1) Project images and information table sourced from Husky corporate disclosure . Production…
Heavy Oil SAGD Plover / Pirtuk McLaren Channel up to 30 meters thick Viscosity: 12,000 30,000 cP 80 MMbbls DOIIP Optimal Mannville reservoir for SAGD 19
Plover SAGD Designed capacity of 6,000 bbl/d steam and 3 well pairs First steam to SAGD wells started July 7 Production target of 2,400 bbl/d assumes steam to oil First oil August 11 ratio (SOR) of 2.5 Experiencing instantaneous SORs…
Cactus North Phases I & II Next SAGD Project 40 million barrels recoverable oil Up to 21 meters thick Close to existing treating facilities Will be constructed in two phases totaling 12,000 bbl/d of steam Total development will…
Good Access to Markets 75% of Northern Blizzard production is pipeline Market Access Overview connected to Enbridge mainline at Kerrobert Northern Blizzard has ability to sell by pipe or by rail Rail advantages No diluent required…
Investment Highlights Attractive total return delivered through lowrisk development of Northern Blizzards worldclass oil resource base Unique High Quality Oil Assets 2.0 billion bbl DOIIP(1) WellDefined Growth Opportunities Long…
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