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Annual General Meeting – Peyto Exploration & Development Corp

Peyto Exploration & Development Corp · Jun 6, 2012 · 50 slides

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Slides

  1. Annual General Meeting – Peyto Exploration & Development Corp – slide 1
    2011 2003 2010 2003 1998 2003 1998 www.Peyto.com Peyto AGM June 6, 2012
  2. Annual General Meeting – Peyto Exploration & Development Corp – slide 2
    PEYTO Exploration & Development Corp. 2 6/11/2012
  3. Annual General Meeting – Peyto Exploration & Development Corp – slide 3
    Advisory I am going to tell you about my vision of Peytos ffuture today. y I will also tell yyou where I think commodity prices are going to go. These are called forward looking statements. I am being truthful and using everything…
  4. Annual General Meeting – Peyto Exploration & Development Corp – slide 4
    The Peyto Difference The Peyto Difference PEYTO Exploration & Development Corp. 4 6/11/2012
  5. Annual General Meeting – Peyto Exploration & Development Corp – slide 5
    Peyto is different Peyto is different. PEYTO Exploration & Development Corp. 5 6/11/2012
  6. Annual General Meeting – Peyto Exploration & Development Corp – slide 6
    Peyto is a business Peyto is a business. PEYTO Exploration & Development Corp. 6 6/11/2012
  7. Annual General Meeting – Peyto Exploration & Development Corp – slide 7
    PEYTO Exploration & Development Corp. 7 6/11/2012
  8. Annual General Meeting – Peyto Exploration & Development Corp – slide 8
    PEYTO Exploration & Development Corp. 8 6/11/2012
  9. Annual General Meeting – Peyto Exploration & Development Corp – slide 9
    (Produce it) (Produce it) Sell it Profit PEYTO Exploration & Development Corp. 9 6/11/2012
  10. Annual General Meeting – Peyto Exploration & Development Corp – slide 10
    PEY 2011 PDP FD&A /mcfe / f (2.12) Cash Costs /mcfe (1 35) (1.35) Sales Price /mcfe 5 47 5.47 2 00 2.00 37% 37% profit fit PEYTO Exploration & Development Corp. 10 6/11/2012
  11. Annual General Meeting – Peyto Exploration & Development Corp – slide 11
    2011 History Land 25 7% 8% PEY 2011 Seismic 3 1% 2% Drilling 175 PDP FD&A / f /mcfe (2.12) (2 12) Compl. W ll it Wellsite Facilities 104 32 40 379 74% 19% 100% 73% 17% 100% Cash Costs / f /mcfe (1 35) (1.35)…
  12. Annual General Meeting – Peyto Exploration & Development Corp – slide 12
    mcfe) 10 Peyto Reallized Gas Price (/m 8 6 4 2 PDP FD&A - 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 PEYTO Exploration & Development Corp. 12 6/11/2012
  13. Annual General Meeting – Peyto Exploration & Development Corp – slide 13
    PEY 2011 PDP FD&A / f /mcfe (2.12) (2 12) Royalties Opex (0.53) (0 53) (0.35) Cash Costs / f /mcfe (1 35) (1.35) Transport G&A (0.13) (0.06) Sales Price Interest (0.28) / f /mcfe 5 47 5.47 Total Costs (1.35) 37%…
  14. Annual General Meeting – Peyto Exploration & Development Corp – slide 14
    10 mcfe) eyto Realiized Gas Price (/m 8 39% Average Profit 6 Royalties, Opex, 4 Bonus Transp G&A Int Transp, G&A, Int 2 PDP FD&A Pe 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 PEYTO…
  15. Annual General Meeting – Peyto Exploration & Development Corp – slide 15
    CND* 2011 PEY 2011 PDP FD&A /mcfe / f (4.20) ((2.12)) Cash Costs /mcfe (3 91) (3.91) (1.35) Sales Price /mcfe 7 89 7.89 5 47 5.47 3% l 3% loss (0 22) (0.22) 2 00 2.00 *Includes:…
  16. Annual General Meeting – Peyto Exploration & Development Corp – slide 16
    CND* 2010 CND 2011 PDP FD&A /mcfe / f (4.74) (4 20) (4.20) Cash Costs /mcfe (3 64) (3.64) (3 91) (3.91) Sales Price /mcfe 7 60 7.60 7 89 7.89 (0.22)) (0. 10% l 10% loss (0 78) (0.78) *Includes:…
  17. Annual General Meeting – Peyto Exploration & Development Corp – slide 17
    CND* 2009 CND 2010 PDP FD&A /mcfe / f (4.31) (4.74) (4 74) CND 2011 (4.20) Cash Costs /mcfe (3 63) (3.64) (3.63) (3 64) ( (3.91) ) Sales Price /mcfe 7 27 7.60 7.27 7 60 7.89 (0.22) (0.78)) ( 9% l 9% loss (0…
  18. Annual General Meeting – Peyto Exploration & Development Corp – slide 18
    Peyto 2011 PEY 2010 PEY 2010 (2.12) (2.11) PEY 2009 PDP FD&A /mcfe (2 11) PEY 2008 (2.27) (2.88) Cash Costs / f /mcfe (1 35) (1.63) (1.35) (1 63) (1.75) (1 75) ( (3.01) ) 9.55 Sales Price /mcfe 5 47 5.47 6 6.18…
  19. Annual General Meeting – Peyto Exploration & Development Corp – slide 19
    Peyto is different Peyto is different. PEYTO Exploration & Development Corp. 19 6/11/2012
  20. Annual General Meeting – Peyto Exploration & Development Corp – slide 20
    Peyto is our assets Peyto is our assets. PEYTO Exploration & Development Corp. 20 6/11/2012
  21. Annual General Meeting – Peyto Exploration & Development Corp – slide 21
    PEYTO Exploration & Development Corp. 21 6/11/2012
  22. Annual General Meeting – Peyto Exploration & Development Corp – slide 22
    PEYTO Exploration & Development Corp. 22 6/11/2012
  23. Annual General Meeting – Peyto Exploration & Development Corp – slide 23
    313 800 nett acres 313,800 (825,000 net acres for all zones) 5 operated gas plants ---(340 mmcf/d capacity) Cutbank 900+ km pipelines 750+ producing zones Kakwa 42,000 42 000 b boe/d /d Processed by Peyto Chicken Leland…
  24. Annual General Meeting – Peyto Exploration & Development Corp – slide 24
    Peyto is different Peyto is different. PEYTO Exploration & Development Corp. 2424 6/11/2012
  25. Annual General Meeting – Peyto Exploration & Development Corp – slide 25
    Peyto is our people Peyto is our people. PEYTO Exploration & Development Corp. 25 6/11/2012
  26. Annual General Meeting – Peyto Exploration & Development Corp – slide 26
    The Peyto People y p ________ 36 Full time 5 Consultants 54 Fi ld C 54 Field Contractors PEYTO Exploration & Development Corp. 26 6/11/2012
  27. Annual General Meeting – Peyto Exploration & Development Corp – slide 27
    Gas to Asss Ratiio 2.5 2.0 (Bcfe/employee) 1.5 1.0 0.5 CR PRQ CPG BNP NGL TOU PBN POU PMT ZAR PWT CLT TET VET FEL BIR PEYTO AAV ARX PGF ERF BTE *Based on…
  28. Annual General Meeting – Peyto Exploration & Development Corp – slide 28
    2011 17,500/boe/d / / 2010 17,300/boe/d 2009 17,300/boe/d 50,000 2008 33,100/boe/d 2007 26,500/boe/d 2006 50,300/boe/d , / / oduction Wedge 2005 42,100/boe/d 2004 22,200/boe/d 40,000 2003 25,300/boe/d Capittal…
  29. Annual General Meeting – Peyto Exploration & Development Corp – slide 29
    Peyto is different Peyto is different. PEYTO Exploration & Development Corp. 29 6/11/2012
  30. Annual General Meeting – Peyto Exploration & Development Corp – slide 30
    Peyto is about profits Peyto is about profits. PEYTO Exploration & Development Corp. 30 6/11/2012
  31. Annual General Meeting – Peyto Exploration & Development Corp – slide 31
    250 200 2011 150 Net Capital to PV5 100 50 0 Production/share g growth 250 2011 Capital Program 62 Net Wells 200 21,700 boe/d 150 2P Reserves/share growth 100 50 0 IRR Note: liquids are converted…
  32. Annual General Meeting – Peyto Exploration & Development Corp – slide 32
    60% 10 50% 8 40% 6 30% 12 yr Average ROE 4 20% 14% 11% 10% 2 0% 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 0 Return On Capital Employed (%) Return On Equity (%) Earnings/share Realized Gas Price…
  33. Annual General Meeting – Peyto Exploration & Development Corp – slide 33
    Peyto is different Peyto is different. PEYTO Exploration & Development Corp. 33 6/11/2012
  34. Annual General Meeting – Peyto Exploration & Development Corp – slide 34
    Peyto is enduring Peyto is enduring. PEYTO Exploration & Development Corp. 34 6/11/2012
  35. Annual General Meeting – Peyto Exploration & Development Corp – slide 35
    25 Assets Peytos Longest Reserve Life 20 75% More Reseerve Life Index (yyrs) Producing g 15 Reserves than Industry 10 5 0 PDP TP TP 2P Industry Peyto *Includes: Includes:…
  36. Annual General Meeting – Peyto Exploration & Development Corp – slide 36
    Peyto Wells Drilled 1000 500 0 PEYTO Exploration & Development Corp. 36 6/11/2012
  37. Annual General Meeting – Peyto Exploration & Development Corp – slide 37
    Done To Do Total Total Total Total V i l Vertical H Hz H Hz Hz Hz Wells Wells Locations Locations Booked* Unbooked 432 40 0 206 06 103 03 5 1 6 10 1 2 12 90 29 44 25 7 11 34 148 14 53 83 99 4 2 14 6 12 87 1…
  38. Annual General Meeting – Peyto Exploration & Development Corp – slide 38
    Variable Price Economics NPV (millions of CDN dollars) Category 0% 5% 8% 10% Proven Producing 4,809 2,624 2,049 1,792 Proven Non-Producing 97 43 29 23 Proven Undeveloped 2,796 1,306 878 681 Total Proven 7,702 3,972 2,956…
  39. Annual General Meeting – Peyto Exploration & Development Corp – slide 39
    2.8 2.6 2.4 2.2 2.0 1.8 18 1.6 1.4 1.2 10 1.0 AAV ERF NAE ARX ONR ZAR CR PWT BNP TET CLT VET PMT PGF FEL NGL BTE PEYTO PRQ TOU CPG POU BIR PBN Ratio PV0…
  40. Annual General Meeting – Peyto Exploration & Development Corp – slide 40
    Peyto is different Peyto is different. PEYTO Exploration & Development Corp. 40 6/11/2012
  41. Annual General Meeting – Peyto Exploration & Development Corp – slide 41
    A St k d H d A Stacked Hand PEYTO Exploration & Development Corp. 41 6/11/2012
  42. Annual General Meeting – Peyto Exploration & Development Corp – slide 42
    Peyto Reality Peyto Energy Trust Peyto Peyto Exploration & Energy Development Corp. 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 PEYTO Exploration & Development Corp. 42 6/11/2012
  43. Annual General Meeting – Peyto Exploration & Development Corp – slide 43
    The Peyto Difference The Peyto Difference PEYTO Exploration & Development Corp. 43 6/11/2012
  44. Annual General Meeting – Peyto Exploration & Development Corp – slide 44
    Natural Gas Discussion Natural Gas Discussion PEYTO Exploration & Development Corp. 44 6/11/2012
  45. Annual General Meeting – Peyto Exploration & Development Corp – slide 45
    Coal to Gas Warm Winter/ Switching Excess Storage Transportation Shale Gas Fuel Hz H MSF Push Steep Declines Pull Technology Potential LNG No LNG Exports Exports P Cool C l Summer S Hot Summer PEYTO Exploration &…
  46. Annual General Meeting – Peyto Exploration & Development Corp – slide 46
    Avg Price 3.50/GJ www.gasalberta.com lb PEYTO Exploration & Development Corp. 46 6/11/2012
  47. Annual General Meeting – Peyto Exploration & Development Corp – slide 47
    PEY 2011 PDP FD&A /mcfe / f (2.12) 3.50 3 50/GJ / Cash Costs /mcfe (1 35) X 165%* (1.35) Sales Price /mcfe 5 47 5.78 5.47 5 78/mcfe 37% profit 37% fi 2.00 2 00 * Q1 2012 uplift from unhedged natural gas price in /GJ…
  48. Annual General Meeting – Peyto Exploration & Development Corp – slide 48
    6.50/bbl 6 50/bbl = 3:1 = 3:1 Methane CH4 Ethane C2H6 12/bbl = 5:1 Propane C3H8 32/bbl = 13:1 = 13:1 69/bbl = 28:1 Butane C4H10 Liquid Conversion Condensate & 101/bbl = 41:1 Existing Refrig. Cheap Cut Pentanes C5+ (-35C)…
  49. Annual General Meeting – Peyto Exploration & Development Corp – slide 49
    Peyto Peytoss Future Story 70,000 60,000 50,000 ED 40 000 40,000 BOE 30,000 20,000 10,000 0 PEYTO Exploration & Development Corp. 49 6/11/2012
  50. Annual General Meeting – Peyto Exploration & Development Corp – slide 50
    PEYTO Exploration & Development Corp. 50 6/11/2012

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