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Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp

Peyto Exploration & Development Corp · Sep 1, 2013 · 35 slides

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Slides

  1. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 1
  2. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 2
    Peyto Profile N TSX Listing: PEY N Shares Outstanding: 148.7 million, 5% insiders N Monthly Dividend: 0.08/share (incr. from 0.06 effective May/13) N Current Production: 360 MMCFe/d (60,000 boe/d) N YE 2012 2P Reserves: 2.35 TCFe…
  3. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 3
    Second Quarter 2013 Highlights YoY Production/share YoY FFO/share YoY Dividend/share* YoY Share price YoY Debt/FFO ratio increase (incl. div.) As at June 30 Q2/13 Profit margin Q2/13 Total cash costs/boe** 4 FFO is…
  4. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 4
    The Peyto Strategy Growth per Share 2013 YE Target 67,000 boe/d Production/share growth rate 5 Historical Per Unit (share) and Units (shares) Outstanding numbers have been adjusted to reflect the May 27, 2005 2:1 stock…
  5. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 5
    Peytos Profitable Business
  6. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 6
    Peytos Profitable Business Profitable Even Through The Lows Forecast with Total Cash Costs per mcfe includes Royalties, Op Costs, G&A, and Interest AECO Strip 7 Prices and PDP FD&A Proved Developed Producing Finding Development &…
  7. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 7
    Peytos Profitable Business 2013 Goals Continuously Improve Profitability 2013 Goals* Pad drilling CNG powered rigs PDP FD&A…
  8. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 8
    Peytos Unique Assets
  9. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 9
    Peytos Assets Geographically Focused Core Areas 400,000 net acres R10 R5W6 R27 R22 R17 7 operated R12 R7W5 gas plants Cutbank ---(440 mmcf/d net capacity) 1000+ km pipelines 800+ producing zones T60 Kakwa 60,000 boe/d T60…
  10. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 10
    Peytos Assets Deep Basin Permeability Segregation Ante Ck FOOTHILLS STRUCTURES Elmworth GAS AS ING INCRE BILITY EA PERM WATER Kaybob TRANSITION ZONE WATER Kakwa GAS Gas INCREAH DEPT SE AREA OF GAS Window…
  11. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 11
    Peytos Assets Multi Zone Stacked Sandstone Reservoirs Up to per section 12 *NGL recoveries can increase by 15+ bbl/mmcf with deeper cutting processing facilities 9/16/2013
  12. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 12
    Peytos Assets Production By Formation Next big thing 13 9/16/2013
  13. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 13
    Peytos Assets Bluesky Formation Outperforming Expectations 7,000 Well 1 Well 2 Well 3 Peyto Bluesky CapEx 6,000 Well 4 7.0 D/C/E/T Capital (MM) Well 5 6.0 Well 6 Raw Gas (mcf/d) 5.0 5,000 Well 7 Well 8 4.0 Well 9…
  14. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 14
    Peytos Assets Large Hz MSF Inventory To Do Done1 Total Total Hz Hz Locations Total Total Locations Unbooked Vertical Hz Booked* Wells Wells 56 432 52 191 29 5 1 5 1 14 90 39 79 61 7 14 14 54 13 35 222 165 14 93 97…
  15. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 15
    Peytos Assets Brazeau River Area F JM LE F F F F F GG L F G K G FG GE J EC E E G K GA F WM CG G A E Brazeau G F S FF C F C U KC F F A G J AF F U V Keyera E V E E EE UU F J U T46 C F F C KF G F GF FE GC A E V I E V FC G C G…
  16. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 16
    Peytos Assets Deep Basin Lands Go A Long Way 450 Peyto Lands 400 Net Lands (000's acres) 350 +32% YoY 300 250 200 150 Net Peyto Sections 100 50 - Net Sections of Cardium, Dunvegan, Notikewin, Falher, Wilrich,…
  17. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 17
    Peytos Assets Facility Ownership and Control R9 R4W6 R26 R21 R16 R11 R6W5 Cutbank Waskahigan W Chicken T60 W Smoky/Kakwa Cutpick Leland/Berland Nosehill T55 Wildhay W W W W Sundance Galloway WW W Swanson Peyto Gas…
  18. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 18
    Peytos Assets Liquids Rich Natural Gas Peyto Q2 2013 Realized Prices Natural Gas 3.35/GJ Ethane C2H6 14/bbl = 4.76/GJ Propane C3H8 24/bbl = 5.95/GJ Liquid Conversion Existing Cheap Deep Cut Butane C4H10 48/bbl = 10.70/GJ…
  19. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 19
    Peytos Assets Self Sufficient Energy Inputs 5MM Estimated Savings/yr. 20 Diesel 1.00/litre Nat Gas 3.00/Mcf (0.10/litre) 9/16/2013
  20. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 20
    Peytos Incredible Returns
  21. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 21
    Peytos Returns Flexible Capital Allocation Required Bluesky 39% Includes provision of 520k per well for Facilities, Land and Seismic Full Cycle IRR on 86 of 86 2012 Wells by Species, Insite Dec 31/12 Prices 22 9/16/2013
  22. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 22
    Peytos Returns Returns Driven Organic Activity 70,000 60,000 2012 50,000 40,000 30,000 Net Capital to PV5 20,000 10,000 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Production/share growth*…
  23. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 23
    Peytos Returns Continuously Improving Results 3,000 6,000 Cardium HZ 45 bbl/mmcf* Notikewin HZ +10 bbl/mmcf Recomb Raw Gas (Mcfe/d) Recomb Raw Gas (Mcfe/d) 2009/10 - 11 wells 2010 - 9 wells 2,000 2001 - 11 wells 4,000…
  24. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 24
    Peytos Returns High Returns on Capital and Equity 60% 10 50% 8 40% 6 30% 13 yr Average ROE 4 20% 10% 2 0% 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 0 H1 Return On Capital Employed (%)…
  25. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 25
    Peytos Future
  26. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 26
    2013 Outlook Large Resource + Low Cost = Profitable Growth 40% CAGR (35%/share) 27 9/16/2013
  27. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 27
    2013 Outlook Biggest Year Ever Drill 100 wells (100% Hz Wells, Liquids Rich Natural Gas) Expand & Extract Increase Processing Capacity (+80 MMcf/d) & NGL Yield Increase Undeveloped Land Base Shoot Seismic 2013 Capital…
  28. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 28
    Appendix N Quarterly Track Record N Tax Pools N Payout N Hedging Strategy N Gas Marketing N Liquids Marketing N FAQ 29 9/16/2013
  29. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 29
    Quarterly Track Record 2013 2012 2011 Q2 Q1 Total Q4 Q3 Q2 Q1 Total Q4 Q3 Q2 Q1 Operations Production Oil & NGLs (bbl/d) 6,374 5,840 4,778 5,286 5,236 4,480 4,101 3,856 3,947 3,918 3,811 3,746 Natural gas (mcf/d) 310,621 297,191…
  30. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 30
    Organic Business Model Peytos Tax Pools 1,400 1,200 1,000 800 Federal Tax Pools Millions 600 Q4/12 400 200 - 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 CEC UCC (25%) CEE (100%) CDE…
  31. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 31
    Peytos Payout Dividend Sustainability 1,600 1,400 1,200 (Millions) 1,000 800 Peyto Cum. Earnings 600 Q4/12 400 200 0 Q1 2000 Q4 2000 Q3 2001 Q2 2002 Q1 2003 Q4 2003 Q3 2004 Q2 2005 Q1 2006 Q4 2006 Q3…
  32. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 32
    Successful Hedging Strategy Peyto Realized Price History 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 16.00 Peyto 7.51/mcf Peyto 7.38/mcf Peyto 8.78/mcf Peyto 8.48/mcf Peyto 8.42/mcf Peyto 8.64/mcf Peyto 6.44/mcf…
  33. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 33
    Gas Marketing Future Sales (contracts before 2013) Financial Hedges - Gas Pricing 2012 2013 2014 2015 Date contracted 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 08-Oct-10 5000…
  34. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 34
    Gas Marketing Future Sales (Contracted in 2013) Financial Hedges - Gas Pricing 2012 2013 2014 2015 Date contracted 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 15-Jan-13 5000…
  35. Peters and Co 2013 Energy Conference – Peyto Exploration & Development Corp – slide 35
    Liquids Marketing Future Sales Financial Hedges - Propane 2012 2013 2014 Term bbl/d Pricing (/bbl) 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 From To 01-Sep-12 31-Mar-13 66 49.56 01-Sep-12 31-Mar-13 66…

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