7,001 boe/d 6,600 boe/d Production Q4 - 2014 Estimated sales production Q1 - 2015 (net of 600 bbl/d shut in due to pricing) 20.6 million Cash flow Q4 - 2014 71 / 74 million (0.29/share) Common shares - basic / diluted 31.96/boe…
6,600 boe/d Elk Point Estimated production 400 bbl/d Frenchmans Others Q1 - 2015 Butte 900 boe/d 20 Inventory 77 Inventory 98% Cold flow heavy oil Morgan Celtic 600 bbl/d 400 bbl/d 60+% 12 Inventory 35 Inventory Produced…
76 million 4 Year Cash Flow 4 Year Production CAGR/DA share Cash flow 2014 CAGR/DA share 57% (1.07/share) 17% 6,030 boe/d Production 2014 6,400 boe/d Production estimate H1 - 2015 80% Cash flow growth per DA share…
Feb 2015 WTI CAD relative to 4 year average 35% Feb 2015 Gear price relative to 4 year average 43% Forward strip March 3, 2015 Global oversupply has created a supply demand imbalance and significantly reduced oil prices…
Gear has adopted a conservative approach to its capital program for the first half of 2015 3 million Deferred Capital plan for H1 - 2015 Drilling program to H2 - 2015 pending improved prices and reduced service costs 20 million…
Cash Flow per Share Estimates for first half of 2015 (with mid-range guidance) Heavy oil cash flow significantly levered to increased oil prices Cash flow for the first half of 2015 supported by hedges A 10/bbl increase in US WTI…
Single leg Vertical Dual lateral Un-lined Dual Capital 960k 700k 1,330k 1,055k Rate: IP90 40 bbl/d 40 bbl/d 70 bbl/d 70 bbl/d Capital Efficiency (on IP90) 24,000/boe/d 17,500/boe/d 19,000/boe/d 15,000/boe/d Multi-lateral drilling…
30% of Gear Q4 production 99 Hz wells drilled to date 23% Royalty (Freehold) 19.00/boe Op costs Lloyd sand channel bbl/d Acquisition Lloyd C pool 2014 Drills Shale channel Highlights Future 2010 to 2013…
Polymer Injection Pilot Eight months of production outperformance to date, 4.5 times production relative to pre-flood level Water oil ratio is stable at approximately 4 times Quarter section horizontal pilot spaced at approximately 200m…
10% of Gear Q4 production 18 Hz wells drilled to date 5% Royalty (Crown) 8.00/boe Op costs bbl/d Shale Channel Cummings pool Pool discovery 2014 Drills Highlights Future 18 Horizontal wells drilled since pool…
17% of Gear Q4 production 22 Hz. wells and 20% Royalty (Crown V + Hz) 4 Vt. wells drilled to date 14.00/boe Op costs bbl/d Acquisition Cummings pool 2014 Drills Highlights Future Gear drills since acquisition Drilling…
8% of Gear production (Nov-Jan) 3 Net Hz. wells and 6% Royalty 2 Dual Hz. wells drilled to date 18.00/boe Op costs bbl/d Acquisition 2014 Drills Highlights Future Gear drills since acquisition Drilling inventory 6 gross…
Normalized Average Production per well (2 wells) McLaren Sand 2014 Drills Highlights Future 6.5 net Gear sections within pool With continued strong production and price 1.5 sections acquired with heavy oil assets, April 2014…
YE 2014 Reserves & Net Present Value of Future Revenues Discounted at 10% under forecasted prices and costs 315% Production replacement with 2014 P+P reserves additions 22% CAGR in P+P reserves since 2011 9% per DA share 24%…
Corporate Net Asset Value at December 31, 2014 using forecast prices (millions) 2014 2013 2012 2011 P+P NPV10 Reserves Value 314.1 274.0 193.1 165.3 Undeveloped Lands 13.4 7.5 12.1 9.8 Seismic 17.5 12.4 11.9 9.2 Income Tax Asset…
Research Analysts Altacorp Thomas Matthews Cormark Garett Ursu FirstEnergy Bob Fitzmartyn GMP Aaron Swanson Haywood Darrell Bishop Industrial Alliance Michael Charlston Paradigm Ken Lin Peters and Co Dale Lewko RBC Mark Friesen 20
Executive Experience Ingram Gillmore VP Engineering - ARC Energy Trust, Talisman President & CEO, Director Yvan Chretien VP Land - ARC Energy Trust, CNRL VP Land David Hwang Controller - ARC Energy Trust, EnCana VP Finance & CFO…
2600, 500 4th Avenue SW Calgary, AB CANADA T2P 2V6 T (403) 538-8435 F (403) 705-2660 www.gearenergy.com
Loading...
