Corporate Presentation - Investors - Birchcliff Energy

Corporate Presentation Summary

Growth by the drill bit

2017 Corporate Presentation
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High working interest, operated production, low operating costs, surrounded by a large, undeveloped land base where Birchcliff has ownership control or access to infrastructure.

Corporate Summary

2016 Average Production
49,236 boe/day
2016 Funds Flow
$​147 Million $0.74/Share
Q1 2017 Net Income to Common Shareholders
$28.9 Million
Q1 2017 Average Production
61,662 boe/day
2017 Estimated Average Production
70,000 - 74,000 boe/day
Estimated Q4 2017 Average Production
80,000 - 82,000 boe/day
Operating Costs per BOE Q1 2017
$5.22/boe
2017 Capital Expenditure Program
$​355.0 Million
Drawn Bank Debt at Mar 31/17
$579 Million
Total Debt at Mar 31/17
$664 Million
TSX 300
BIR, BIR PR.A, BIR PR.C
Total Credit Facilities
$950 Million
Undeveloped Land (Sections at Dec 31, 2016)
709.6 Gross (658.2 Net)
2016 F&D Costs (P+P)
$​​1.25/BOE BFDC - $4.43/BOE WFDC
December 31, 2016 Proved Developed Producing Reserves
16​6 Million BOE - 6 Year RLI
December 31, 2016 Deloitte Reserves (P+P)
880 Million BOE - 34 Year RLI
Number of Montney/Doig Horizontal Wells Drilled as at Mar 31, 2017
316 (310.7 net)
Number of net Potential Future Montney/Doig Horizontal Wells (Dec 31, 2016)
5,703.1
Number of Common Shares Outstanding at Mar 31/17
26​​4.4 Million
Perpetual Preferred Shares Series A
2 Million - BIR PR.A
Perpetual Preferred Shares Series C
2 Million - BIR PR.C

Keys to success

93% average working interest in undeveloped land

99% of production is operated

99% of new drilling and completions, initiated and controlled by BIR

BIR COMPANY TOTAL RESERVES