Trilogy Corporate Profile 2014 Results: Average production: 35,104 Boe/d (40% Oil and NGL) Operating income: 31.28/Boe Funds flow: 349.4 million (27.26/Boe) Market Cap: 126.0 million shares at 7.25/share 914 Million Net debt: 300.0…
Trilogy Assets Geographically concentrated assets Multi-zone development and exploration potential in Grande Prairie the Deep Basin 1,600 Boe/d 2015E 2 MM 2015E Capex Significant NGL-rich, high heat content natural gas and light…
Operations Update
Trilogy: Key Growth Plays Trilogy is currently developing three resource plays: Trilogy has a significant infrastructure position consisting Montney gas at Presley of gas and oil processing facilities, pipeline and roads Montney…
Kaybob Montney Oil Pool Development 8 Hz Montney oil wells/section; 400 locations Approximately 50 net sections at average 10 MMBbl DOIIP/section; 500 MMBbl DOIIP for pool(1) Horizontal well: D/C/T 4 MM/well Average 1-mile…
Kaybob Montney Oil Pool Development 2011 2012 2013 2014 Total Wells Drilled 22 24 31 29 107 Drilling/ Completion 98 MM 109 MM 133 MM 111 MM 451 MM Infrastructure 33 MM 51 MM 33 MM 24 MM 141 MM Land 36 MM - - - 36 MM Total Capital 167…
Economics - Kaybob Montney Oil Pool Assumptions Capital: 4.0 MM D/C/T per well Gas Price: 3.50/Mcf IP30: 300 Bbl/d oil Reserves per well: 350 MBoe(1) - 0.8 Bcf natural gas - 200 MBbl oil - 16 MBoe C3+ (1) Internal estimates 9
Kaybob Presley Montney Gas Development Approximately 60 net sections with 10 - 15 Bcf proved plus probable raw gas per section(1) 5 Hz wells/section: 300 locations 79 horizontal wells drilled to end of 2014 Horizontal well: 5 MM/well…
Presley Montney Gas Economics Assumptions Capital: 5.0 MM DCT per well IP30: 5.3 MMcf/d Reserves per well: 590 MBoe(1) 3 Bcf natural gas 90 MBoe NGLs Economics 3.50/Mcf, 42.00 /Boe NGLs NPV 10%: 3.0 MM IRR: 58% Payout: 18 months…
Emerging Duvernay Shale Play
Duvernay Unconventional Shale Play- Kaybob Area Large liquids-rich gas and condensate/oil resource play Increasing liquids content within the Duvernay to the northeast Qualifies for the 5% Shale Royalty for 36 months on all…
Duvernay Unconventional Shale Play 75 sections in gas/condensate area 125 additional sections in volatile oil area Participated in 42 horizontal wells into this play to date 2014 D/C/T 12 (7.4 net) well Approximately 150 MM…
Duvernay Unconventional Shale Play- Kaybob Area 15
South Kaybob Duvernay 16
South Kaybob Duvernay Shale Gas/Condensate Play Economics based on the following assumptions: TD: 5,000 m IP: 3 - 6 MMcf/d Proved plus Probable Reserves: 2 - 8 Bcf(1) Capital Cost: 12 MM DCT per well Operating Cost: 1.00/Mcf…
North Kaybob Duvernay 18
North Kaybob Duvernay Shale Condensate/Oil Play Economics based on the following assumptions: IP: 1 - 4 MMcf/d Proved plus Probable Reserves: 1 - 4 Bcf (1) Capital Cost: 12 MM DCT per well Operating Cost: 1.00/Mcf and 4.80/Bbl…
Trilogy Duvernay Gas and Condensate/Oil Production 20
Financial Update
Quarterly Review Fourth quarter 2014 production was 35,938 Boe/d, a 7% Trilogy realized a 25% increase in annual Funds Flow, increase from fourth quarter 2013 production. from 280.5 million in 2013 to 349.9 million in 2014 22
2015E Funds Flow Sensitivities (Cdn) Estimated 2015 Funds Flow: 113.6 MM based on a 40% Oil and NGLs production split Assumptions Sensitivity Impact Oil Price (Cdn/Bbl) 60.17 1.00 2.3 MM Gas Price (Cdn/Mcf) 3.10 0.50 19.8 MM…
2014 Trilogy Finding and Development Costs Land 0.2 MM Geological and Geophysical 1.5 MM Drilling and Completion 334.4 MM Production Equipment, Facilities and Inventory 89.7 MM Net Acquisitions/Dispositions 13.3 MM Corporate Field…
Reserves (InSite Petroleum Consultants Ltd., as at December 31, 2014) Proved Reserves Probable Reserves Natural Gas Crude Oil NGL Total % Reserve Category BCF MBbl MBbl MBoe Proved Developed Producing 279.5 13,462 12,626 72,663…
Summary Extensive high working interest land base in the Deep Basin Significant operated gathering and processing infrastructure in Kaybob area High capital efficiency resulting in low F&D costs Large inventory of low-risk,…