Investor Presentaiton
Canada Update
| Optimizing Lateral Lengths, Frac Intensity and Facilities
Asset Highlights
Successfully and safely drilled 2 wells in Q1 2023
- Drilled a 1.5 mile lateral well
-
Drilled a 2.75 mile lateral well, the longest to date
3Q 2023 Asset Stats
2,835 BOEPD
WI Production
45% / 28% / 27%
NGL
Oil
Gas
Enhancing Returns By Extending Lateral Length
2023+ Expected Well Performance (Oil Rate, bopd)
2023 Budget 1.5-Mile TC
2023 Budget 1-Mile Typecurve
2023 Budget 2-Mile Typecurve
-2023 New Budget 3-Mile Typecurve
---2023 Budget 2.75-Mile Typecurve
■ The wells retained acreage and achieved average cycle time of <90 days
◉
Both wells exceeded initial production estimates
☐
-
Wells brought online in Q2 and free flowing through May, then switched to
pumping rods in June
One well was a top 15 new oil well producer in Alberta in May 2023
Monitoring wells for long-term performance versus type curve
■ Moving to longer laterals exclusively in the future
Extending laterals to 2.5 and 3 miles should improve the overall economics of
future drilling programs
Working to further optimize frac intensity and shorten cycle times
Evaluating facility and pad optimization to further enhance economics
Oil Rate (bbl/d)
400
350
300
250
200
150
100
50
50
0
0
Outstanding 2023 Capital Program Results Driving Production Growth
12
112
24
36
Months on Production
Slide 14View entire presentation