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Investor Presentation – Peyto Exploration & Development Corp

Peyto Exploration & Development Corp · Jan 1, 2011 · 53 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Investor Presentation – Peyto Exploration & Development Corp – slide 1
    TSX: PEY January 2011 132.8 million shares outstanding www.Peyto.com Monthly Dividend 0.06/share
  2. Investor Presentation – Peyto Exploration & Development Corp – slide 2
    The Peyto Strategy 11 Y Year T Track kRRecord d PEYTO Exploration & Development Corp. Prospect Generation Reserves Growth NAV Growth Profit Sharing (BCFe) (NPV5 Debt Adj/Unit) 1999 2000 2001 1999 1999 2002…
  3. Investor Presentation – Peyto Exploration & Development Corp – slide 3
    L Coompound Annuaal Total Return 0 10 20 30 40 50 60 70 80 Calfrac Well Servicees Largest Jan99 Osisko Mining Peyto Energy Trust First Quuantum Minerals Pacific Ruubiales Energy Jan00 Transglobe Ennergy Corp.…
  4. Investor Presentation – Peyto Exploration & Development Corp – slide 4
    Peyto Version 3.0 Dividend paying growth corporation PEYTO Exploration & Development Corp. 40 35 Peyto 1 0 Peyto 1.0 Peyto 2 0 Peyto 2.0 Peyto 3 0 Peyto 3.0 30 Great 25 Recession 20 15 15 10 5 5 1 Billion…
  5. Investor Presentation – Peyto Exploration & Development Corp – slide 5
    Why Own Peyto Today All the same reasons as before PEYTO Exploration & Development Corp. Greatest Total Return Return driven ROCE, ROE, IRR Shareholder return a combination of growth/unit + distribution/dividend Proven P L…
  6. Investor Presentation – Peyto Exploration & Development Corp – slide 6
    We Invest In Ourselves P d ti growth Production th per U Unit/Share it/Sh PEYTO Exploration & Development Corp. 40 00 40.00 /d per million) m distribution) 300 Record Production/unit Aug/05 of 241 boe/d/mm Converted to…
  7. Investor Presentation – Peyto Exploration & Development Corp – slide 7
    Improved Capital Efficiency R Record dAAnnuall P Production d ti W Wedge d 60,000 2010F 16,500/boe/d 2009 17,300/boe/d 2008 33,100/boe/d 2008 33 100/boe/d 2007 26,500/boe/d 50,000 2006 50,300/boe/d 2005 42,100/boe/d…
  8. Investor Presentation – Peyto Exploration & Development Corp – slide 8
    Improving Margins Hi h Profit High P fit and dOOperating ti M Margins i PEYTO Exploration & Development Corp. 100% 90% 80% enue 70% Margin as % of Reve 69% Ave Operating 60% Margin 50% 40% 30% 37% Ave…
  9. Investor Presentation – Peyto Exploration & Development Corp – slide 9
    Organic Business Model P t T Peytos Tax Pools P l PEYTO Exploration & Development Corp. 900 800 700 600 ons 500 Millio 400 300 200 100 - 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010F UCC…
  10. Investor Presentation – Peyto Exploration & Development Corp – slide 10
    Why Own Peyto Today All the same reasons as before PEYTO Exploration & Development Corp. Greatest Total Return Return driven ROCE, ROE, IRR Shareholder return a combination of growth/unit + distribution/dividend Proven P L…
  11. Investor Presentation – Peyto Exploration & Development Corp – slide 11
    Concentrated Asset Base G hi ll F Geographically dC Focused Core A Areas PEYTO Exploration & Development Corp. 267,000 net acres R10 R8 R6 R4 R2W6 R27 R25 5 R23 operated R21 gas R19 plants R17 R15 R13W5 T64 ---(245 mmcf/d…
  12. Investor Presentation – Peyto Exploration & Development Corp – slide 12
    Tight Gas Resource Plays H i t l MSF P Horizontal j t Projects PEYTO Exploration & Development Corp. 12 1/26/2011
  13. Investor Presentation – Peyto Exploration & Development Corp – slide 13
    Tight Gas Resource Plays M lti l V Multiple Vertical ti l /H /Horizontal i t lTTargets t PEYTO Exploration & Development Corp. Sundance Area Reservoirs 12 13 1/26/2011
  14. Investor Presentation – Peyto Exploration & Development Corp – slide 14
    Cardium Resource Play H i Horizontal t l MSF P Project j t PEYTO Exploration & Development Corp. C di Cardium Gas G Fairway F i Sundance Cardium 4,000 sq miles up to 65 TCF Gas in Place1 2-3 TCF developed to date E…
  15. Investor Presentation – Peyto Exploration & Development Corp – slide 15
    Cardium Resource Play C di Cardium T Type L Log and dRReserves PEYTO Exploration & Development Corp. Volumetric Reserves AREA(Ha)= 256 (1 section) 23m Gross thickness H(m)= 15 15m Net Pay (using POROSITY(%)= 9 6% porosity…
  16. Investor Presentation – Peyto Exploration & Development Corp – slide 16
    Cardium Resource Play Horizontal MSF Project PEYTO Exploration & Development Corp. R11 R9 R7 R5 R3 R1W6 R26 R24 R22 R20 R18 R16 T66 GF F CFFACF FF FAG F AAF CACF AF AF F F F FCAG G A F AF CF FCACF FEF FC GCFF G ACCF CF AG F FG L…
  17. Investor Presentation – Peyto Exploration & Development Corp – slide 17
    Cardium Resource Play E Economic i CComparison i Vertical V ti l vs. H Horizontal i t l PEYTO Exploration & Development Corp. 7,000 Ave Cardium Vertical last 5 yrs (00/132005522W5/0) Well 1 Well 2 Well 3 W ll 4 Well 4…
  18. Investor Presentation – Peyto Exploration & Development Corp – slide 18
    Cardium Resource Play P Payout t Analysis A l i PEYTO Exploration & Development Corp. 4.0 3.5 Ave Cardium Hz Cost 5.7 million (D&C, E&T, Seismic, Land & Facilities) 3.0 Well 1 Well 2 All in Costs (000s) Well 3 Well 4…
  19. Investor Presentation – Peyto Exploration & Development Corp – slide 19
    Cardium Resource Play C Conservative ti H Horizontal i t lRReserve A Assignment i t PEYTO Exploration & Development Corp. P+P 200m Ave Drainage Area: PDP 90 ac (340m perimeter) Ave 80 T P+P 100 ac (360m perimeter) sand…
  20. Investor Presentation – Peyto Exploration & Development Corp – slide 20
    Notikewin Resource Play H i Horizontal t l MSF P Project j t PEYTO Exploration & Development Corp. A N Peyto Not. vt A N Peyto P t Crdm Peyto Not. hhz N t hz Peyto Notikewin Mineral Rights 20 1/26/2011
  21. Investor Presentation – Peyto Exploration & Development Corp – slide 21
    Notikewin Resource Play T Type L 1 Log 1-20-54-22W5 20 54 22W5 PEYTO Exploration & Development Corp. 28m Gross Pay 19m Net Pay Volumetric Reserves AREA(Ha)= 256 (1 section) H(m)= 19 POROSITY(%)= 8 SW(%)= 35 TEMP.(Deg.C)=…
  22. Investor Presentation – Peyto Exploration & Development Corp – slide 22
    Notikewin Resource Play E Economic i CComparison i Vertical V ti l vs. H Horizontal i t l PEYTO Exploration & Development Corp. Average Vertical Notikewin 00/080305621W5/0 Well 2 10,000 Well 1 Hi h Hz High H W ll 4 Well…
  23. Investor Presentation – Peyto Exploration & Development Corp – slide 23
    Notikewin Resource Play P Payout t Analysis A l i PEYTO Exploration & Development Corp. 4.5 Ave Notikewin Cost 5.2 million (D&C,E&T,Seismic, Land & Facilities) 4.0 Well 1 All in Costs (000s) Well 2 Drill 2,900 3.5 Well 3…
  24. Investor Presentation – Peyto Exploration & Development Corp – slide 24
    Wilrich Resource Play H i Horizontal t l MSF P Project j t PEYTO Exploration & Development Corp. Nosehill Project Area A N Peyto Wil. vt A N Peyto P t Crdm Peyto hhz Wil hz Wil. P t Wilrich Peyto Wil i h…
  25. Investor Presentation – Peyto Exploration & Development Corp – slide 25
    Wilrich Resource Play T Type L 7 Log 7-5-56-20W5 5 56 20W5 PEYTO Exploration & Development Corp. 23m Gross Pay 16m Net Pay Volumetric Reserves AREA(Ha)= 256 (1 section) JET H(m)= H(m) 16 2825 FRAC (-1578.4) POROSITY(%)=…
  26. Investor Presentation – Peyto Exploration & Development Corp – slide 26
    Wilrich Resource Play E Economic i CComparison i Vertical V ti l vs. H Horizontal i t l PEYTO Exploration & Development Corp. Average Wilrich Vertical 00/022605520W5/0 Well 1 9,000 Well 2 Well 3 Well 4 Well 5 8,000 Well…
  27. Investor Presentation – Peyto Exploration & Development Corp – slide 27
    Wilrich Resource Play P Payout t Analysis A l i PEYTO Exploration & Development Corp. 4.5 Ave Wilrich Hs Cost 5.2 million (D&C,E&T,Seismic, Land & Facilities) 4.0 Well 1 Well 2 All in Costs (000s) Well 3 Well 4 Drill 2,800…
  28. Investor Presentation – Peyto Exploration & Development Corp – slide 28
    Falher Resource Play T Type L 2 Log 2-8-55-21W5 8 55 21W5 PEYTO Exploration & Development Corp. Example Volumetric Reserves Notikewin AREA(Ha)= 256 (1 section) H(m)= H(m) 10 POROSITY(%)= 8 SW(%)= 35 TEMP.(Deg.C)= 98…
  29. Investor Presentation – Peyto Exploration & Development Corp – slide 29
    Falher Resource Play P Payout t Analysis A l i PEYTO Exploration & Development Corp. 4.5 Ave Falher Cost 5.2 million (D&C,E&T,Seismic, Land & Facilities) 4.0 Well 1 All in Costs (000s) Well 2 Drill 2,800 3.5 Complete 1,600…
  30. Investor Presentation – Peyto Exploration & Development Corp – slide 30
    Other Resource Plays H i Horizontal t l MSF Pil Pilott 4 4,5 5 and d on PEYTO Exploration & Development Corp. Horizontal Horizontal Locations 126 locations 19 locations 70 locations 72 locations 165 locations 6…
  31. Investor Presentation – Peyto Exploration & Development Corp – slide 31
    Land Strategy O Opposite it off Shoot, Sh t Ready, R d Aim Ai PEYTO Exploration & Development Corp. 2009 Year End Undeveloped Reserves/Undeveloped Land 900 1.8 Undeveeloped Reserrves/Land (booe/ac) Undeeveloped Lannds…
  32. Investor Presentation – Peyto Exploration & Development Corp – slide 32
    Horizontal MSF Gas Wells O Production On P d ti Last L t 12 months th PEYTO Exploration & Development Corp. Alberta's Central Deep Basin Activity AF AFF A FAA AA A EE A EF E Horizontal gas wells last 12 mo. A F F…
  33. Investor Presentation – Peyto Exploration & Development Corp – slide 33
    Why Own Peyto Today All the same reasons as before PEYTO Exploration & Development Corp. Greatest Total Return Return driven ROCE, ROE, IRR Shareholder return a combination of growth/unit + distribution/dividend Proven P…
  34. Investor Presentation – Peyto Exploration & Development Corp – slide 34
    Low Cost Producer Th New The N M Margins i PEYTO Exploration & Development Corp. Total Peyto Revenue 84.8% Gas 15 2% Liquids 15.2% New Drilling Peyto 9mo 2010 Unhedged Cardium Hztl Wilrich/Notikewin Hztl 3.92/GJ (Ave AECO…
  35. Investor Presentation – Peyto Exploration & Development Corp – slide 35
    Low Cost Producer M i - Industry Margins I d t Comparison C i Q3 2010 PEYTO Exploration & Development Corp. 70% 18 16 s (/boe) 60% Margin 14 50% erating Costs Operating M 12 40% 10 30% 8 Q3 2010 O…
  36. Investor Presentation – Peyto Exploration & Development Corp – slide 36
    Low Cost Producer P t IIndustry Peytos d t L Leading di O Op C Costs t PEYTO Exploration & Development Corp. 18 PEYTO 16 Daylight Trilogy 14 Fairborne Operatinng Costs (/bboe) Advantage 12 12 P Perpetual t l 10…
  37. Investor Presentation – Peyto Exploration & Development Corp – slide 37
    Low Cost Producer L Low O Op Cost C t = Long L R Reserve Lif Life PEYTO Exploration & Development Corp. 2009 Year End Proven Producing Reserve Life 15 10 35 Years PDP 5 30 29 TP - 25 25 P+P 21 22 RLI…
  38. Investor Presentation – Peyto Exploration & Development Corp – slide 38
    Low Cost Producer D Deep G Gas Drilling D illi R Royalty lt IIncentives ti PEYTO Exploration & Development Corp. 3,500-4,000 m MD Trigger depth for Natural Gas Deep Drilling Program 2,200 m TVD reduced from 2,500m TVD to…
  39. Investor Presentation – Peyto Exploration & Development Corp – slide 39
    Low Cost Producer P t Full-Cycle Peytos F ll C l G Gas S Supply l CCostt PEYTO Exploration & Development Corp. 10 10 hedged Realiized Price (//mcfe) cfe) 8 40% 8 as Price (/GJ J) s Price (/mc Average Profit 6 6…
  40. Investor Presentation – Peyto Exploration & Development Corp – slide 40
    Low Cost Producer Wh Profitable Whos P fit bl PEYTO Exploration & Development Corp. Peyto Ave Profit 2002-2009 = 2.92/mcfe Ultra Pet. Ave Profit 2002-2009 = 2.79/mcfe 10 10 10 10 Price (/mcf) ce (/mcfe) 8 40% 8 8 8…
  41. Investor Presentation – Peyto Exploration & Development Corp – slide 41
    Why Own Peyto Today All the same reasons as before PEYTO Exploration & Development Corp. Greatest Total Return Return driven ROCE, ROE, IRR Shareholder return a combination of growth/unit + distribution/dividend Proven P…
  42. Investor Presentation – Peyto Exploration & Development Corp – slide 42
    Greatest Total Return Hi hR High t Returns on C it l and Capital dE it Equity PEYTO Exploration & Development Corp. 60% 10 9 50% 8 7 40% 6 30% 5 4 20% 3 2 10% 1 0% 0 1999 2000 2001 2002 2003 2004 2005 2006…
  43. Investor Presentation – Peyto Exploration & Development Corp – slide 43
    Return on Capital Employed I d t Comparison Industry C i 2009 PEYTO Exploration & Development Corp. 40% 30% 20% 10% 0% -10% 10% 43 Return on Capital Employed (ROCE) is earnings before interest and tax for…
  44. Investor Presentation – Peyto Exploration & Development Corp – slide 44
    2011 Outlook More Of 2010 PEYTO Exploration & Development Corp. Capital Expenditures (250-275 million before DRC) Drill and Re-enter New Gas Locations ((90% Hz)) Expand Gas Gathering & Processing Capacity Expand Undeveloped…
  45. Investor Presentation – Peyto Exploration & Development Corp – slide 45
    2011 Outlook 2010 All O Over A Again i PEYTO Exploration & Development Corp. 60,000 2011F 16,500/boe/d 2011F 16 500/boe/d 2010F 16,500/boe/d 2009 17,300/boe/d 2008 33,100/boe/d 50,000 2007 26,500/boe/d 2006…
  46. Investor Presentation – Peyto Exploration & Development Corp – slide 46
    Appendix PEYTO Exploration & Development Corp. Quarterly Track Record Distribution History Payout y Ratio Gas Marketing Hedging Strategy Reserves data volumes, values 46 1/26/2011
  47. Investor Presentation – Peyto Exploration & Development Corp – slide 47
    Quarterly Track Record PEYTO Exploration & Development Corp. 2010 2009 Q3 Q2 Q1 Total Q4 Q3 Q2 Q1 Total Q4 Operations Production Oil & NGLs (bbl/d) 3,322 3,465 3,330 3,028 3,222 2,916 2,950 3,022 3,265 3,207 Natural gas (mcf/d)…
  48. Investor Presentation – Peyto Exploration & Development Corp – slide 48
    Distribution History PEYTO Exploration & Development Corp. Monthly Distribution 0.20 0.15 0.10 0.05 0.00 Monthly Distribution 48 Historical Per Unit and Units Outstanding numbers have been…
  49. Investor Presentation – Peyto Exploration & Development Corp – slide 49
    Payout Ratio History PEYTO Exploration & Development Corp. Maximum 91% Historical Payout Ratio 100% Minimum Converted 42% % to a Trust 80% at 57% 60% 40% 20% 0% Quarter Cash Payout Ratio Total Payout Ratio…
  50. Investor Presentation – Peyto Exploration & Development Corp – slide 50
    Gas Marketing F t Future Sales S l Financial Hedges - Gas Pricing 2009 2010 2011 2012 0-Jan-00 GJ/d (/GJ) A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O From To 1-Apr-09 31-Oct-09 5000…
  51. Investor Presentation – Peyto Exploration & Development Corp – slide 51
    Successful Hedging Strategy Peyto Realized Price History PEYTO Exploration & Development Corp. 2003 2004 2005 2006 2007 2008 2009 Peyto Peyto Peyto Peyto Peyto Peyto Peyto 16.00 7.51/mcf AECO Mo 7.38/mcf AECO Mo 8.78/mcf AECO…
  52. Investor Presentation – Peyto Exploration & Development Corp – slide 52
    Peytos Reserves V l Volumes PEYTO Exploration & Development Corp. Natural Gas Sales Gas Liquids & Oil Category (BCF) (Mstb) BOE's(Mstb) Proven Producing 497 15,801 98,573 Proven Non-Producing 15 374 2,913 Proven Undeveloped…
  53. Investor Presentation – Peyto Exploration & Development Corp – slide 53
    Peytos Reserves N t Present Net P t Value V l PEYTO Exploration & Development Corp. Variable Price Economics NPV (millions of CDN dollars) Category 0% 5% 8% 10% Proven Producing 4,655 4 655 2,389 2 389 1,825 1 825 1,578 1…

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